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No time for Tsipras to celebrate as long list of tasks means pressure is on from start
EconomyProgrammeof farmers. Other key deliverables for October include: 1) Reform of the income tax code (ITC) also... include legislation for: 1) Equivalent measures to fully compensate for the court ruling ordering... by October: 1) Apply and collect outstanding claw backs until the first half of 2015 for pharmaceuticals
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No let up ahead in terms of fiscal demands for new Greek government
EconomyProgrammeto generate annual revenues of 1 percent of GDP. The basic VAT rate was set at 23 percent, a super... will be abolished starting from October 1 for islands with higher incomes, which are also the most popular destinations, and is due to be extended to the other islands as of Jun 1, 2016. Other measures
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Greek 2016 draft budget contains 6.4 bln in new fiscal measures, sees recession ahead
EconomyMacroeconomyon investments, consumption and domestic tourism. Despite GDP growth of 1 percent in the first half of the year..., investments are anticipated to rebound by 4.5 percent, exports to decrease at a slower pace by 1 percent... relate to: Expenditure and cost savings (2.39 billion – 37.5 percent of total) 1) Increase in health care
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Banks' trading updates show slight improvement in core pre-provision income, deceleration in NPL formation
Economyincome by 1 percent QoQ to 597 million. After a drop in Q1, expenses headed north in Q2 increasing by 1...) to 275 million. Gross loans slipped by around 1 percent QoQ to 70 billion in Q2, whilst deposits... that due to the improved liquidity conditions in Q3, Eurosystem funding slipped by around 1 billion
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Greek banks' capital actions underway, state aid seen as low as 4.7 bln
Economy(1:50) since its current market price of 0.064 euros per share is way below the minimum price of 0.30... split (1:100). NBG NBG initially announced it would seek to raise 1.6 billion from the non-preemptive... today is also due to approve a reverse split (1:15). Piraeus Following the LME outcome of around 600
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Greece gets tranche and looks ahead to next tasks, including pensions and NPLs
EconomyProgrammeof 1 billion. Eurogroup President Jeroen Dijsselbloem said that the pension reform has been moved... percent of GDP in 2015 and around 1 percent in 2016. Almost half of cost savings for 2016 have been...) for employers by up to 1 percentage point. At the same time an overhaul of the pension system has
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Where things stand on the Greek pension reform proposals
EconomyProgrammechanges that were included in the proposed pension system overhaul included: 1) Consolidation... for a 3-year period by a total of 1.5 percentage points (pp), 1 pp for employers and 0.5 pp for employees... 600 million euros required for achieving the agreed pension cost savings of 1 percent of GDP (1.8
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Clock ticks on bailout review but big gaps remain between Greece, lenders
EconomyProgrammecontributions for supplementary pensions by 1.5 percentage points (pp), 1 pp for employers and 0.5... in contributions e.g. for 1 pp in total. This means that the government has to consider alternative measures... by 1.13 billion, there are several items worth around 1 billion (0.6 percent of GDP) in the 2016 budget
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Greece, eurozone edge closer on pensions and fiscal gap but IMF keeps bar high
EconomyProgrammepercent or around 1 billion euros, mostly related to measures that are incorporated in the 2016 budget but have not been either legislated or implemented. These interventions relate to: 1) Imposition... measures. Also, Greece has to identify measures yielding a total of 1 percent of GDP (0.75 percent coming
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This is how things stand as bailout talks head for a brief pause
EconomyProgramme1 percent of GDP. On pensions, on top of the measures already implemented last summer, which are meant to yield 0.5 percent of GDP, an additional 1 percent is required for the next years. Half... for farmers and the self-employed. Tax Tax measures, which are expected to yield 1 percent of GDP
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