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Greek DSA: Don't Say Anything about the debt
AgoraThe decision by the International Monetary Fund’s Poul Thomsen to raise the issue of Greece’s debt... in Annex I there is an extensive analysis of the country’s debt profile based on the assumptions... of public assets in general, are areas where SYRIZA’s ideological beliefs mean it will struggle
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Fitch keeps Greece's rating at 'CCC'
EconomyIn its scheduled rating review on Friday, Fitch affirmed Greece’s rating at ‘CCC’, where... and depositor confidence has derailed Greece’s economic recovery. This damage will take time to repair... in the course of this year, Fitch rating on Greece is equivalent to that of Moody’s, while S&P rating stands
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Proposed VAT overhaul a stepping stone towards agreement with lenders?
EconomyProgrammeGreece and its lenders are broadly in agreement on the restructuring of Greece’s VAT system, which... in exchange a tax refund for their purchases. The previous government’s proposals for a tax on luxury... net impact on budget revenues from the proposed VAT overhaul but one of the measure’s goals
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SYRIZA prepares to debate deal as Tsipras's options narrow
PoliticsGreek Politicsto the International Monetary Fund, when Athens has to transfer about 300 million euros. SYRIZA’s parliamentary... on Wednesday that Athens would not make Friday’s payment if there is no prospect of an agreement with lenders... receiving its 300 million euros. Interestingly, though, Fylis said that the government’s four “red
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How Greek banks were left on the brink
Agorainstitutional investors. At that time, investors were betting on Greece’s turnaround and that an improving... time, lenders’ fundamentals began deteriorating again. Banks’ market value at last year’s issue.... NBG’s lower NPL also reflects the M&A activity of the other three core banks in 2012-13, which mainly
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Greek primary cash surplus at 1.07 billion at end-May on lower expenditure
EconomyMacroeconomyGreece’s central government primary cash surplus remained almost unchanged at 1.065 billion...). It should be noted though that last year’s figure included one-off revenues of 1.31 billion related to the payment of preference shares by Alpha and Piraeus. Similarly, this year’s figure incorporates an one
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Between heaven and hell
Agora. The morning after the referendum on the Eurogroup’s bailout proposal, I visited my local pharmacy, where my... and hell not only since the referendum, in fact not even since January’s elections brought SYRIZA... most Greeks have gone through an almost daily mental struggle about their country’s future and how
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After marathon in Brussels, short sprints for Tsipras in Athens
PoliticsGreek Politicson the prime minister to reject the agreement with creditors at the 11th hour. Lafazanis leads SYRIZA’s... will follow Lafazanis’s example and not vote for the new measures but not give up their seats... making. Things are likely to clear up after Wednesday’s vote, when Tsipras will be forced
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Outcome of next vote on prior actions to set tone for political developments
PoliticsGreek Politicsin Wednesday’s vote. Last week, 123 coalition deputies supported the first multi-bill of prior actions.... There are concerns that this week’s vote may prove more testing because it affects farmers, and MPs from rural... they would back to conclude negotiations with Greece’s lenders. National elections, however, would have
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This is the government's strategy on banks and NPLs as part of third bailout
EconomyHowever, a potential negative development for banks could arise from the government’s decision to modify last year’s law regarding state guarantees for deferred tax assets (DTA) in order to minimize... banks). That said the Finance Minister Euclid Tsakalotos recently stated that the government’s
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