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Industrial turnover completes eighth month of contraction in Nov, falls 2.7 pct YoY
EconomyMacroeconomy, basic metals. Revenue in the domestic market decreased by 2 percent, while the non-domestic market was down by 2.5 percent. On a monthly basis, industrial turnover in the total market decreased by 2...-on-year (YoY) from a 2 percent decrease in October, according to data released by the Hellenic
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Underwhelming GDP highlights investment falling short of mark
EconomyMacroeconomy, as the momentum from the pandemic recovery started to ease, GDP recorded growth rates of 2 pct, 2.7... also grew by 3.7 pct thanks to a solid tourism season that favoured exports of services, to a total... for. That said, growth of 2 pct that outpaces the EU and the eurozone almost four times can hardly
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NPLs: The Achilles heel of the Greek banking system
AgoraAdjustment Program, the European Commission (EC) came up with a higher number of the total NPL ratio... of that posted by the Bank of Greece, while the trend is also the opposite with EC showing a 2 pp... by the EC at 24 percent, 1 pp lower than that in 2012. The BoG figure stands 2 pp higher and indicates
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Greece changes banks' DTA conversion law to secure ECB/EBA approval
Economyshares (capital increase) for a total amount resulting from the formula: DTC over capital times (annual) profit loss. For example, if a bank has a capital of 10 billion, of which DTC is 2 billion (20 percent of total), and the bank reports pre-tax loss of 1 billion, then the bank will proceed
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The politics of debt dynamics in Greece
Agorafor Greece of 174.8 percent or a total of 318.6 billion euros. The revised projection of the IMF... of the total volume of accumulated sovereign debt is critical in this respect. We need to emphasise the trend and not the overall total number. The increase in the ratio of Greek public debt to pre
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Greece submits reform proposals but Eurogroup unlikely to be moved
EconomyProgrammeand also connect with KEPE, the government’s Centre for Economic Research. 2. The second reform involves... to be hired on a strictly short-term, casual basis (up to 2 months and without any prospect of being... believes that only 8.9 billion of the total amount is collectable. Note that unpaid taxes from government
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The lenders proposals on debt and funding needs that Greeks will vote on in referendum
EconomyProgrammewith a potential IMF tranche of 3.5 billion, bringing the total amount that could be disbursed to Greece... and 5.5 billion to payments to the IMF. The total of 15.5 billion euros coupled with the primary surplus... account to cover debt servicing (payment to the IMF of 1.6 billion due on June 30). 2) The second
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Newsletter 42 - 11/09/2015
injected into the systemic banks, the resolution cost of non-core banks reached a total of 15..., of the total financial envelope of 50 billion that was earmarked for Greek bank recapitalisation... proceeded with capital increases of 8.3 billion in total, with the cancellation of HFSF pre-emption
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Eurobank makes 877 mln bond exchange offer to cover part of its capital shortfall
EconomyBanking) involving a voluntary exchange offer for a total nominal value of 877 million euros in outstanding bank bonds. The offer relates to 532 million senior bonds, 267 million Tier 2 securities and 78... percent of nominal value for senior securities, at 80 percent for Tier 2 and at 50 percent for Tier 1
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National Bank reveals capital plan, which includes sale of whole Finansbank stake
EconomyBankingscenario of the stress test. The bank's capital plan has three key pillars aiming to cover total..., 84 million euros in preferred securities and 18 million hybrid (Tier 2) notes. For senior notes... brings the maximum capital support from private investors at 2.6 billion. The remaining 2 billion
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