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Greece and the euro: The flight of Icarus
AgoraOver the last three years, you won’t have read a newspaper article, seen a TV report or listened to a radio program that referred to Greece and didn’t use the word “crisis.” And for good reason too... somebody doesn’t want printed; everything else is advertising.” I can tell you this crisis has been
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Does new troika visit spell fresh drama for Greece? Maybe not
Economymaturities for the remainder of 2013. The 3.2 billion euros of T-bills that mature in November and another 3.6 billion in December are likely to be rolled over easily. The 4 billion of T-bills... by ECB/NCBs was covered by the issuance of a T-Bill financed by Greek banks via the ELA
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Greece exceeds expectations with first return to bond markets after four years
Economyand it is an encouraging sign for Greece and Europe”. A first sign of the strong demand was evident in the last 6-month T... told the local media that the government expects the yield of the upcoming T-bill auctions to fall... on a T-bill stock of 15 billion euros. However, this has to be offset against some 100 million
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Drop ‘til you shop
Agorato be made for using Sunday shopping to create more movement in the market. It doesn’t have to be just about... been done or is being done to ensure that this won’t happen. Have Greek companies, for instance... other people’s products rather than producing our own? If there isn’t an effort to tend
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‘We’re dying to pay our taxes’
Agora. An hour and a half later, after saying he wasn’t feeling well, Elliniadis collapsed. He was having... high of 27 percent. If that wasn’t bad enough, only 15 percent of the registered jobless receive.... But being employed in Greece doesn’t necessarily mean you have an income. One in three workers is owed
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Newsletter 12 - 23/01/2015
. Kathimerini daily noted that extraordinary T-Bill issues of 1.5–2 billion may be required to cover...- and 6-month T-Bills of 7 billion in the coming two months, 2.4 billion in February and 4.6 billion... important questions that the political protagonists in recent weeks badly needed to answer but didn’t
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The immediate economic and financial hurdles for the new Greek government
EconomyProgramme2 billion euros and new funding could stem from extraordinary T-Bill issues of 1.5 – 2 billion... for T-Bills, an approval by the troika is required for any incremental borrowing using this funding tool. Additional T-Bill issues would be probably primarily or solely covered by Greek banks, since
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Another euro stitch unpicked
Agoraare going to be incredibly tense, there isn’t now. The European Central Bank’s decision on Wednesday... in the short-term by issuing T-Bills, for which Greek banks would probably be the only bidders. A six-month T-Bill issue on Wednesday attracted the lowest bid-to-cover ration since July 2006 as Athens
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What are the implications of the ECB's decision for Greek banks?
Economyare pillar III bonds, Greek government bonds (GGB) and T-Bills. For the first two categories, the total... November, foreigner investors’ take up of T-Bill issues (15 billion) was around 60 percent. However... euros, have gradually increased their participation in T-Bill rollover as of December. Another important
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Greek gg primary cash surplus at 2.2 bln in 2014, arrears down to 3.75 bln
EconomyMacroeconomyMoM to 324.13 billion at the end of December, reflecting an increase in T-Bills by 1.69 billion.... This change stems from a net decrease in long-terms bonds by 9.7 billion and in T-Bills by 442 million... billion 3) Exchange of 1.67 billion T-Bills via 3- and 5-year bond re-opening in September. Short term
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