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IMF flags up weak growth, long-term debt sustainability and reform pledges in Article IV report
EconomyProgrammeto sustainable and inclusive growth. The IMF’s executive board reiterates that given the impressive... social spending, thereby reducing the high risk of poverty. Reforms The focus on Greece’s financial..., with a special focus on tax enforcement and modernising the judiciary. The IMF’s board emphasised
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ESM releases final tranche of third bailout, boosting cash buffer ahead of exit
EconomyProgrammethe cash buffer, while 5.5 billion will go towards servicing the country’s debt. The addition of the 9.5 billion euros means that Greece’s cash buffer will now reach 24 billion euros, which is considered enough to meet its funding needs for 22 months. In a statement, Prime Minister Alexis Tsipras’s office
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Tsipras tries to take lead in fire response amid picture of confusion
PoliticsGreek Politicsthat stretch back far beyond his government’s time in office. “There were times in the past when... construction. He repeated the coalition’s pledge to knock down buildings constructed without permits... emerge about how authorities dealt with the blaze on July 23. New Democracy’s response, via spokeswoman
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Eurosystem funding down by 3.29 bln to 13.02 bln in July
EconomyMacroeconomyrate of 4.56 billion euros. July’s reduction brings the total for central bank funding to 13.02 billion euros for the month compared to June’s total of 16.31 billion, under the 20-billion mark... in the ECB’s quantitative easing (QE) programme. Interbank repos have also increased, as well as loan
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Under relentless pressure from opponents, Tsipras unveils plans for new crisis agency
PoliticsGreek PoliticsPrime Minister Alexis Tsipras presented on Thursday the government’s plans for the overhaul... for the coalition’s political opponents to stop trying to exploit the disaster. Earlier, New Democracy leader... the pressure on the government after such a catastrophe. However, the coalition’s confused reaction
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Are you not entertained?
Agoraby the average Greek, and this is not because the last decade has sapped hope. GDP decline Greece’s real.... Wage reduction Greece’s lenders had identified a significant competitiveness problem... banks and their ability to finance Greece’s growth is seen as a sensitive link in Greece’s recovery
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Tsipras to set out path for new cabinet as pension discussion looms
PoliticsGreek Politicsto voters. In her comments after being sworn in, Papakosta referred to putting the country’s interests.... The prime minister might point to this as a sign of a more progressive approach, in line with SYRIZA’s core... its term. It has done huge damage and the sooner it leaves, the better for the country." Friday’s
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Eurobank sees net profits of 1.1 mln in Q2, NPEs continue to fall
EconomyBankingreduction strategy, Eurobank’s latest offering is the property-related Pixel portfolio, which has... of the ECB’s waiver for Greek bonds, while SME securitisation in Q2 provided 800 million in liquidity...’s international franchises which had contributed with profitability increasing by nearly 20 percent
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Tax cuts set to lead package of post-MoU pledges by Tsipras
PoliticsGreek Politics. For the SYRIZA leader, Saturday’s speech provides the best opportunity so far to show that the exit from... that this will be the first time in eight years that a Greek prime minister presents his government’s own economic plan (as opposed to one imposed by the country’s creditors). He also stressed that the government’s
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Piraeus Bank posts net profit of 24 mln in Q2, ELA funding fully eliminated
EconomyBankingPiraeus Bank’s second quarter (Q2) results showed that net profits from continued operations came.... This was attributed to the bank’s cost reduction programme that began with the launch of VES in early 2018... percent). Commenting on the results, Christos Megalou, CEO of Piraeus Bank noted the country’s exit from
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