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Early rounds of talks with lenders focus on possible prior actions
EconomyProgrammeto the new three-year ESM programme is approved. Most of these measures were included in the latest... in the national health system (ESY). Media reports also indicate that recession may reach 3 percent this year... is projected for this year, at the high end of EC recent forecast. The same sources also note
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CPI falls by another 2.2 pct in July as VAT rises yet to be recorded
EconomyMacroeconomythroughout the course of the year so far. The 12-month trailing index indicates a drop in CPI by 1.9 percent meaning that 2015 will be the third consecutive deflationary year. In 2013 and 2014, CPI fell by 0.9 and 1.3 percent respectively. A key catalyst for this year’s deflation is the impact
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Capital controls take toll on car sales, which fell 23.9 pct in July for first time in two years
EconomyMacroeconomyand the second reading below the 10,000 mark in the course of this year. The highest reading... percent rise recorded in the first half of the year. In absolute terms, road motor cars reached 74,603... of 347,354. Market sources had indicated that the strong growth rates until the first half of the year
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Eurogroup approves 3rd bailout for Greece but expects swift, extensive action
EconomyProgrammewill have to find savings of 1.2 to 1.5 billion euros per year. On the new 50-billion euro privatisation... be operational by the end of the year. The Eurogroup statement also sets out how its revenues will be used... later this year, there will be a bail in but only for senior debt bondholders. There will be no bail
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Retail sales fell by 1.7 percent in June, after a short-lived rise in May
EconomyMacroeconomyfigure is the fifth negative reading in the first half of the year and the twelfth over the past eighteen... the impact of monthly seasonal effects, also showed turnover slipped by 0.8 percent year on year (YoY
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S&P affirms Greek ratings at 'CCC+/C' with stable outlook
Economyis crucial to shift the primary balance back into surplus by next year. S&P retains its economic forecasts unchanged pointing to a recession of 3 percent this year, zero in 2016 and a GDP growth of 2.7... of the banking system’s capital requirements seen late this year or in early 2016. Overall, the rating agency
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Greek bank recapitalisation: The story so far and what lies ahead
Economyscenario. According to bank sources, they incorporate a GDP contraction of 2.3 percent this year and 1.3... territory this year (-0.4 percent), turning positive in the next two years, to 1.5 and 0.9 percent in 2016... Stability Mechanism in late February 2015. Almost one year after the first assessment in March 2014
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Greek politics to dash voters hopes again
Agorathat creditors require, the economy is expected to contract this year between 1.5 to 2 percent... percent in the third quarter of 2013. Even as recently as the second quarter of this year..., in parts boosted by seasonal hirings. Even this modest rebound is expected to evaporate this year
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Amid fog of confusion, Greeks vote... again
Agorahave been in government since late 2011 – more than one a year – while about 30 parties have been... will argue that Greece was on the road to recovery last year, many of the underlying figures were extremely... an exhausting year for Greeks emotionally – hope, fear and frustration have interchanged almost
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Tsipras sets target of trouble-free bailout review so debt relief talks can begin
PoliticsGreek Politicsthe coalition’s four-year term ends. The premier said that it is vital the government clears the first... the bank recapitalisation before the end of the year and enter talks about debt relief early next year
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