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ESM board to specify rules on short-term debt relief measures
EconomyProgramme, with new fixed-rate notes replacing the floating-rate notes used for the recapitalisation of Greek banks.... Of this amount, 29.9 billion is in the form of EFSF bonds held by the four Greek systemic banks and 5.4... notes that match the average maturity of Greek loans, which currently stands around 32 years. Overall
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Positive deposit flow of 2.8 bln in Dec leads 2016 inflows to 4.2 bln
EconomyMacroeconomyThe Greek market posted notable inflows of 2.8 billion euros in December from a marginal positive... flow of 989 million. Overall, deposit inflows in the Greek market stood at 4.2 billion euros within... resident’s outflows of 617 million. Last week the BoG’s annual balance sheet revealed that Greek
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Credit contraction accelerates to 1.5 pct in Dec, net lending flow remains subdued
EconomyMacroeconomyThe rate of credit contraction in the Greek market accelerated to 1.5 percent in December after... credit contraction in the Greek market for six years in a row, with cumulative net deductions...) and corporate lending (-23.3 percent). In the second semi-annual overview of the Greek financial
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Athens waits for move from lenders to get review going
PoliticsGreek Politics-the-scenes efforts to bring Greece’s lenders closer together and organise a meeting with the Greek.... The Greek government maintained radio silence over any possible developments on the review front... proposal coming from the Greek side. In fact, it increasingly looks as if the government is waiting
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Lenders make proposal to Athens but no immediate breakthrough expected
PoliticsGreek Politicsof disagreement and inaction. The proposal reportedly put to Tsakalotos is that the Greek government... so the review can be wrapped up. There was no immediate reaction from the Greek side to the lenders... discussions on the proposal tabled on Friday and the Greek government believes that there is still room
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Progress rather than breakthrough the target at Eurogroup
PoliticsGreek Politicsfor the review to be completed. Going into the meeting of the eurozone finance ministers, the Greek... about the sustainability of Greek debt and can include the country’s bonds in its QE programme. Tsipras... that highlights the flaws in the International Monetary Fund’s assessment of the Greek economy and its
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Greece forced to revisit prickly subject of pension spending to conclude review
EconomyProgrammeThe Greek government is due to resume negotiations with the institutions in Athens on Tuesday, when.... Such a development exacerbates the already large inter-generational imbalances of the Greek pension system... to dominate the agenda of upcoming discussions between the institutions and the Greek government. The first
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Cyprus talks take a buffeting as leaders fall out
PoliticsForeign PolicyThe climate between the Greek Cypriot and Turkish Cypriot leaders deteriorated dramatically last... throughout the island. A Greek-backed coup aimed at Enosis resulted in the Turkish invasion of the northern part of the island in July 1974. The Greek Cypriot side has acknowledged that Parliament's
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Fitch keeps Greece’s rating at ‘CCC’
Economy. The rating agency’s baseline scenario is that an agreement will be reached between the Greek... and disburse the next bailout tranche without IMF involvement taking into consideration that the Greek... thinks that the European countries’ desire is to avoid a Greek political crisis during an election year
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Greece searches for balanced deal as talks get underway in Athens
PoliticsGreek Politics. He argued that it had been important to ensure that the lenders accepted some of the Greek positions... been put on the negotiating table. The prime concern for the Greek government is to achieve what it can... spending to be reduced by 1 percent of GDP and that the Greek side would like to limit the cuts to 0.75
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