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Eurosystem funding drops by 399 mln in May, ELA collateral falls to zero
EconomyMacroeconomythat Greece’s four systemic banks had fully eliminated ELA funding from their balance sheets... holdings in the ECB’s quantitative easing (QE) programme. Interbank repos have also increased, as well... million in April. May’s increase is the fourth consecutive rise in as many months. The total
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BoG notes economic progress, urges safeguarding of fiscal credibility
EconomyFinancial Stability Fund of an APS like the one used in Italy recently. Greece’s central bank argues... defaulters and settle the issue of non-viable companies. On the fiscal front, BoG sees this year’s... report. It also highlights that following the announcement of the expansionary package; Greece’s
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Social impact of crisis seen easing in 2018, but 31.8 pct still at risk of poverty/exclusion
Societyby the 20 percent of the country’s population with the highest equivalised disposable income... unable to afford a week’s holiday away from home compared to a total of 50.7 percent. Despite this, social participation remained relatively stable. Regarding meeting at friend’s houses to socialise
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Budget primary surplus confirmed at 916 mln in May on higher expenditure
EconomyMacroeconomy, compared to a surplus of 853 million noted in May 2018, the Finance Ministry’s (MoF) final budget... to May 2018 when the figure stood at a deficit of 947 million euros, the monthly primary balance’s... revenues for May rose month-on-month compared to April’s figure of 4.20 billion. On an aggregate
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Mitsotakis aims to hit ground running as polls point to clear majority on July 7
PoliticsGreek Politics. In an interview with Sunday’s Kathimerini, Mitsotakis claimed that he does not want to waste any time... and the current management for the company’s decline and said that his administration would seek to apportion... predecessor’s plan for a so-called “small PPC,” i.e. spinning off part of the company Opinion poll An MRB
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Credit contraction remains at 0.1 pct in May, balance at 161.16 bln
EconomyMacroeconomyeuros from 161.48 billion euros in the previous month. Along with April, May’s credit contraction.... The latest month’s reading took the balance to 69 billion, slightly dropping from April’s figure... billion. The household lending sector’s net monthly movement showed negative movement of -215 million
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Mitsotakis, ND officials rebuff suggestion of credit line
PoliticsGreek Politicsthe European Stability Mechanism (ESM) and use at least part of Greece’s cash buffer to help banks deal..., criticised SYRIZA’s decision to create a large cash buffer and said that as prime minister Kyriakos... for the next 2-3 years,” he added. Fearing that SYRIZA would further exploit Papadimitriou’s comments
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Industrial production falls by 1.2 pct in May
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) dropped year-on-year (YoY) by 1.2 percent in May... March’s drop of 0.2 percent. Month-on-month (MoM), the index declined by 2 percent after a revised..., industry confidence has improved by 1 point. Additionally, Markit’s manufacturing PMI came to 52.4
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Merkel reluctant to discuss targets as Athens prepares bill with wide-ranging tax cuts
PoliticsGreek Politicsthis week by European officials regarding the possibility of Greece’s primary surplus target being... the rest of New Democracy’s tax pledges can be fulfilled. These include increasing the tax-free... of GDP primary surplus target. Following this week’s Eurogroup, officials suggested that there is little
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Eurosystem funding rises by 539 mln in June, banknotes in circulation also up
EconomyMacroeconomy, it was also revealed that Greece’s four systemic banks had fully eliminated ELA funding from... and participation of Greek banks’ EFSF holdings in the ECB’s quantitative easing (QE) programme. Interbank repos... rose by 186.4 million euros in June after a smaller rise of 45.4 million in May. June’s increase
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