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Greece, eurozone edge closer on pensions and fiscal gap but IMF keeps bar high
EconomyProgramme(110 million). 4) Cost savings of 400 million from cutting military expenditure and other Defence... calls for pension cost savings of 1 percent of GDP (1.8 billion euros) in 2016 with the government... inevitably paving the way for a cut in main or supplementary pensions to achieve the pledged pension cost
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Pension and income tax reform bill sets out 4.4 bln in new measures
EconomyProgrammereport also details the impact on revenues and cost savings from the interventions in the pension... (1.56 percent of GDP) by 2018. More than three-quarters (2.11 billion) of this relates to cost savings and around 640 million to incremental revenues. Cost savings 1) Elimination of the solidarity grant
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Gov't lowers tax-free threshold, prepares for third pillar of measures worth 1 pct of GDP
EconomyProgramme. Cost savings On the expenditure front, cost savings of around 700 million euros (0.4 percent of GDP... interventions and 0.4 percent of GDP from cost savings in the public sector.
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Newsletter 76 - 03/06/2016
the freeze will not be applied if fiscal measures producing equivalent cost savings are legislated... would be switched from the higher cost emergency liquidity assistance (ELA) to ECB funding once... that the “haves” pay their fair share and that the cost of adjustment does not fall mostly on the “have nots
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Encouraging signs for Greek banks in Q1 results but NPL management looms large
Agoraby 2.7 billion euros QoQ coupled with lower time deposit cost, which more than offset the reduced loan... capacity on 32.5 billion euros in the TLTRO-II operation, they would have access to liquidity at a cost of -40 bps versus zero cost for EVB funding entailing a positive impact of 130 million on their NII
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Newsletter 79 - 24/06/2016
, which are currently paced with the BoG for ELA funding at a cost that is 150 basis points above... as a result of his blinkered decisions but the true cost of the damage will only be clear when... cost of leaving the EU or the immigration burden that would come with continued membership
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Alpha Bank reports net losses of 16.8 mln in Q2
EconomyBankingmillion euros as the benefit from the lower wholesale funding cost, on the back of lower reliance... administrative expenses. The bank already booked in Q4 2015 the cost of a voluntary retirement scheme... for the whole year, corresponding to a cost to income ratio of 48 percent in line with what was reported
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Budget for 2017 sees primary surplus at 2 pct on 2.6 bln fiscal measures, strong growth
EconomyMacroeconomy. On the flipside, direct taxes are estimated to drop by around 300 million to 20.42 billion in 2017. On the cost... contributions for self-employed (49 million). The net savings amount also includes the cost of social... at a cost of 300 million. Debt The gg debt is seen at 315.4 billion euros in 2016, increasing by 3.8
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Greek households spend greatest share of income on accommodation in EU
Societyindicators: housing cost overburden, arrears on mortgages/rent payments, overcrowding, severe housing... than 40 percent of their income on housing (known as housing cost overburden), compared to an EU average of 40 percent. Greece was also highest for the housing cost overburden among 20–24 year olds (44.1
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Alpha Bank reports net profits of 20 mln in Q4, leading full-year earnings to 42 mln
EconomyBanking1.8 percent QoQ to 490.1 million in Q4 as the lower wholesale funding cost more than offset weaker... with the bank’s target of 1.12 billion. The key driver for the cost containment was the further decline... to 1.17 billion from the exceptionally high figure of around 3 billion in 2015. As a result, cost
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