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ND braces for deeper economic impact from Covid-19, mulls more assistance
PoliticsGreek Politics. Although this does not change the minister’s expectation for the full-year shrinkage, which he still... to 7 billion euros of leveraged loans via the Hellenic Development Bank’s Guarantee Fund... leader, Fofi Gennimata, to focus its attack on Tsipras, rather than Pappas. KINAL argues that Pappas’s
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More flights land at airports, but tourism expectations remain grounded
PoliticsGreek PoliticsThe spotlight fell on Greece’s tourism sector on Wednesday as regional airports, including... been revised downwards is that Naftemporiki newspaper reported on Wednesday that government’s goal...” view of SYRIZA’s performance over the last 12 months. Centre-left Movement for Change (KINAL) had
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Alpha seals bad loans sale deal, lenders brace for NPE management in Covid-19 era
EconomyBanking(earnout),” Alpha Bank’s statement said. The transaction is expected to have a positive impact... the third quarter of 2020. PricewaterhouseCoopers Business Solutions S.A. (PwC) is acting as the Bank’s... in Greece and contains NPEs of up to 12 billion euros in value. The bank’s management said that while
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Unemployment edges upward to 15.5 pct in April
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate came to 15.5 percent in April from a slightly upward revised figure of 14.5 percent in March, Hellenic Statistical Authority’s (ELSTAT) data showed... month’s reading is the lowest since November 2010, when unemployment came to 14.2 percent. In April
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Court ruling on pension backpay creates dilemma for PM
PoliticsGreek PoliticsGreece’s highest administrative court handed Prime Minister Kyriakos Mitsotakis a hot potato... up to 2012 and for the 11-month period between the court’s prior ruling in June 2015 and the so... year’s elections and the sight of mass appeals by pensioners would create negative publicity
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PM in search of recovery fund boost as parties clash over latest Novartis episode
PoliticsGreek Politics), Greece’s domestic politics was focussed on the latest fallout from the Novartis scandal. Settling the RRF... with the aim of adding gravitas to Greece’s plans. Pissarides headed a group of economists... goes into the meeting hoping that the Commission’s original proposal for the RRF to provide grants
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Authorities turn focus back to Covid-19 compliance as latest numbers trigger concern
PoliticsGreek Politics, Deputy Civil Protection Minister Nikos Hardalias, who is leading the government’s on-the-ground... Greece’s public health strategy earlier in the year, but who has been mostly in the background over the last few weeks. Although the teleconference is aimed at coordinating the government’s approach
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Govt, experts sound alarm over risk of Covid-19 control being lost
PoliticsGreek Politics100,000 over the prior period. The Health Ministry’s expert spokesman on the pandemic, Professor Sotiris Tsiodras, made an appearance on the government’s televised briefings after a two-month absence... to an exponential increase in cases and hospitalisations. The chair of the government’s expert committee also
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Govt scrambles to prevent Covid-19 spreading further as holidaymakers return to cities
PoliticsGreek Politicsspokesperson Alexis Haritsis turned on the prime minister for the government’s latest advertising spot... responsibility” to “cover up its own responsibility.” SYRIZA’s response reflects an ongoing debate... with individuals and what is within the state’s purview. New Democracy and its supporters have been highlighting
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Current account shows deficit of 1.42 bln in June, driven by slashed tourism revenues
EconomyMacroeconomyGreece’s current account (C/A) balance posted a deficit of 1.42 billion euros in June compared... worsened by 2.22 billion euros year-on-year (YoY). According to the BoG, June’s performance stems from... the start of Greece’s high tourism season. The travel balance for last year came to 2.36 billion
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