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UnLuCky for some: Another painful lesson from the euro crisis
Agorathat moment, the deterioration of Greece’s current account was considered part of the desired effect of euro... at the start of the crisis. The term Unit Labour Cost became sacred. The sure way to achieve the desired effect... a self-defeating nature in meeting fiscal targets, combined with the denominator effect in terms of debt
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The first cut is the deepest? Greek pension reforms in context
EconomyFeaturesand a solidarity levy on the larger pensions. By and large, the measures had little immediate effect on most... labour The devastating effect of the recession on economic activity, and the consequent rise..., the coverage devoted to pensioners often obscures the effect that the crisis has had on other social
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APS bill tabled, allowing use of 12 bln in state guarantees to reduce NPLs
EconomyBankingbanks clean up their balance sheets is a few steps away from coming into effect after the Finance..., the state guarantee comes into effect when the senior notes have secured the minimum credit rating of ‘BB... of financial results that in anticipation of the Hercules coming into effect, and with the general
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Our most popular stories in 2014
Agorais undertaking. The OECD finds that indirect tax increases pushed the cumulative effect of consumer... firms that have economies of scale. Given that internal devaluations do not have the automatic effect..., though, is the effect these developments are having on people and their daily lives. The social cost
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You've heard the Greek crisis myths, now here are some truths
Agoraausterity to close the deficit from year one. This approach would also have had a knock-on effect... is undertaking. The report finds that indirect tax increases pushed the cumulative effect of consumer price... of this legislation regarding structural reforms has been implemented to full effect is open to question
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If you think it's bleak for Greece now, wait until tomorrow
Agoraworse than the rest of the euro area. The combined effect of all this is that labour will contribute... flows seen when Greece adopted the euro no longer exist but also because the effect will be compounded... exceeding the eurozone historical average and just reaching 1 percent. The combined effect
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Russia sanctions, regional diplomacy dominate Tsipras visit to Ukraine
PoliticsForeign Policyof the Ukrainian crisis has halted a number of energy projects that have an effect on Greece’s interests... effect in the heart of Europe. He also noted that “this vicious cycle must come to an end... effect on the Greek economy, we will not fragment European unity,” he said. In the new era following
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Piraeus Bank posts net loss of 80 mln in Q1
EconomyBankingand 5.9 percent under the “adverse” scenario, at year-end 2020. The adverse scenario effect of -8.9 percent demonstrated that the bank can withstand a higher adverse effect when compared to the 2015 adverse effect, which was -7.8 percent, the bank said. The three-year cumulative baseline PPI was assumed
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Alpha Bank makes loss of 52.9 mln in Q2, reaching profit of 12.3 mln in H1
EconomyBankingEmergency Liquidity Assistance (ELA) reliance and the calendar effect. Funding costs were down by 25 million euros QoQ, out of which 16.7 million represents a one-off effect of the retrospective application..., the waiver effect had an impact of 1.2 billion on the bank's ECB collateral pool. Capital The Common
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Alpha Bank posts net profits of 27.5 mln in Q1, ELA eliminated
EconomyBankingand the calendar effect. The bank noted that loans had a negative contribution of 22.7 million to NII... and increased credit card usage for retail transactions in Q4 2018, which created a base effect. Recurring... QoQ. The decline stemmed from the negative effect of IFRS 9 and Basel III amortisation (-41 bps
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