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National Bank follows other Greek lenders' by opting for capital increase
EconomyBankingthe market, of which 4.03 has already been covered if we include Eurobank’s anchor investor offer... to institutional and other eligible investors. NBG also noted the BoG has already approved other capital... will be most likely close to the market price. The market has to a large extent discounted the board’s
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Tension builds in Greek coalition and with SYRIZA as elections near
PoliticsGreek Politicsthe banner of the centre left Olive Tree alliance, the socialist party has become sensitive to any.... It also seemed a personal affront to Venizelos, who is a constitutional expert. While there has... has not just been limited to the coalition, though. A new round of verbal jousting between New
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Fitch upgrades Greek credit rating to B with stable outlook
EconomyMacroeconomyto 1.4 percent in 2014. On sovereign liquidity, Fitch notes that the near-term risk has fallen, yet.... Fitch stresses that although the current administration has displayed greater ownership.... The rating agency also stresses that there has been a notable wage and price adjustment
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Greek elections as seen (or imagined) from Berlin
Agorathe course of the past two years a steady line of communication has been established and nurtured... sister party in Germany, Die Linke. Tsipras has visited Berlin on various occasions, even meeting... to pose dilemmas. Ahead of Sunday’s vote he has been made aware of new challenges in Athens, which were
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EU elections do not mark end of numbers game in Greek politics
PoliticsGreek Politicselections, even though SYRIZA has made a formal request for the country to go to the polls soon. Less.... The coalition, though, has responded negatively and is instead trying to bolster its defences after... Democracy has made it known it is not in favour. It is more likely that after a brief period during
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Piraeus Bank reports loss of 247 mln for Q1
EconomyBankingto this the network in Greece has been reduced by 33 percent YoY to 903 units and the headcount by 14 percent to 16.4 thousand employees. In addition, the bank stated it has secured so far 64 percent... million, has incurred. Gross loans fell 3.3 percent QoQ to 73.6 billion. Adjusting for the seasonal
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BoG sees encouraging signs for Greek economy but warns on reforms
Economythis year. On the former, the BoG indicates that business confidence has strengthened with firms... of the public sector with particular focus on areas where progress has been rather poor so far... their capital plans to cover their capital needs determined under the adverse scenario. The BoG has
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Greece shelves water privatisation plans, leaving gap in revenue targets
Economy(EYDAP), ruling that it was unconstitutional. According to the decision, the state has... stake to a strategic investor, has also been put on hold. EYATH’s tender process had been launched... that the state’s direct and indirect stake is valued at 613 million euros. EYATH has a much lower market
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NPLs: The Achilles heel of the Greek banking system
Agoraof provisions exceeded the banks’ capital (138 percent) at the end of 2013, although this ratio has... at the end of 2013. More than one third of top-4 banks’ Greek NPLs are held by Piraeus, which has also.... According to the latest EC and IMF review reports, the Bank of Greece has committed to introducing key
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Value of HFSF's shareholdings in core Greek banks sinks to 18.5 bln
EconomyBankingfor the period in question. However, the value of HFSF's shareholdings in Greece's core lenders has... billion at the end of last December. Nevertheless, the current fair value has dropped to 18.5... 13.1 percent in Q1 but has plunged 23.3 percent since then. This means that the 2.5 billion euros
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