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Bank holiday to end but capital controls remain and some transactions forbidden
Economycards abroad is allowed only for goods or services purchases without cash and up to the limit set... rates are effective as of July 20. Moreover, the hotel VAT rate is set at 6 percent until September 30. It will be raised to 13 percent as of October 1. The legislative decree also extended
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Amid talk of post-election alliances, parties propose changes to bailout measures
PoliticsGreek Politics, PASOK leader Fofi Gennimata set out the five following demands: 1) No freeing up of mass... is that PASOK, which seems likely to be part of the next government no matter who wins, has set out five key
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Newsletter 44 - 25/09/2015
attempted to set the tone ahead of this testing period by urging his ministers to focus on the task... facing Greece. Beyond ensuring his cabinet can keep up with the pace set by the creditors... before the depositor bail-in becomes effective as of 1 January. That said, the Greek banks have
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Newsletter 45 - 02/10/2015
indicate that it may be split in two subtranches of 2 and 1 billion, respectively, meaning that two separate set of prior actions would have to be implemented in the next couple of months. Prior actions... for migration issues because it had not yet set up a service to manage these resources. If Tsipras cannot put
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Newsletter 48 - 23/10/2015
). Improvement mainly due to drop in goods and primary income deficits. 2 More old than new Tsipras fails to set... into the Lagarde list iceberg. If history is a guide, Tsipras’s path seems to have been set: after talking... deposits of 1 million euros in his derivation of wealth declaration when he became an MP in 2012
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Greek stocks edge up in week of big losses for banks
EconomyThe domestic market rebounded by 1 percent this week but the key development was the huge losses... and the outcome of the voluntary bond swap offer (LME). The offer price was set at 0.01 euros implying a discount... its own capital needs of 2.56 billion with the offer price set at 0.04 euros, at a 34.4 percent
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Prior actions completed, coalition now faces up to first review and contentious reforms
PoliticsGreek PoliticsThe race to complete the second set of prior actions demanded by Greece’s lenders before Christmas... to around 1 percent of GDP (1.8 billion euros), as well as changes to the tax system, designed... already set the bar high as it has ruled out cuts to main pensions, which means that the bulk
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NBG boosts capital base by selling total stake in Finansbank
EconomyBankingis estimated to boost NBG’s Common Equity Tier 1 (CET1) ratio by around 600 basis points (bps). This solely...-provision income (PPI). In addition, the group’s net loans are set to decrease by 17.5 billion euros to 46.3 billion after the transaction, while deposits are also set to be reduced by 13.9 billion to 41.9
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Deadline for liberalisation of household and SME NPLs looms closer
Economyfor the disbursement of the last sub-tranche of 1 billion euros. Until February 15 only NPL sales of large...-November set the new legal framework on foreclosures, which involves a two-tier protection based... eligibility criteria. The property value limit is set at 180,000 euros and income at 13,906 euros
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Newsletter 61 - 05/02/2016
of understanding target for pension cost savings of 1 percent of GDP (1.8 billion) in 2016... of the current set of reforms. However, the lack of dissent is perhaps an indication of the determination... that Greece can only muster as a programme country in accordance with the parameters set
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