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Lenders urge new government to meet fiscal targets as Athens issues 7-year bond
EconomyProgrammesustainability.” Regling’s statement reflects the longstanding position that Greece’s European creditors have maintained, which is that the high primary surpluses are needed to ensure that Greece’s... is Greece’s third market foray since the third bailout ended last August. Greece has issued two bonds
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New government holds first talks with creditors, may opt for cautious fiscal approach
EconomyProgrammedisrupting the positive mood surrounding Greece and the new government, evident in this week’s... not believe Athens should be pushing for talks on Greece’s fiscal targets at the moment. The point... threshold for incomes, a measure that was scrapped by SYRIZA (with ND’s support) a few weeks ago
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Industrial turnover drops by 2.3 pct in May
EconomyMacroeconomyGreece’s industrial turnover fell by 2.3 percent year-on-year (YoY) in May compared to a rise of 13.4 percent in April, Hellenic Statistical Authority (ELSTAT) data published on Friday showed. May’s... percent. The month’s performance was led by a decrease of 2.4 percent in the turnover index
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Falling T-bill yields underline market confidence in Greek debt, promise lower servicing costs
EconomyThe positive mood in Greece’s public debt market is showing no signs of letting up and was again reflected in the auction of 26-week T-bills that took place on Wednesday. Greece’s Public Debt... in the latest auction held in the middle of June this year. June’s issue was covered more than two
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Consumer confidence hits 19-year high, ESI highest since 2007
EconomyMacroeconomyGreece’s economic sentiment (ESI) strengthened by 3.1 points in August to reach 108.4 points, European Commission (EC) figures showed on Thursday. As of August’s reading, the index has remained above 100 points for seven consecutive months. This month’s reading is the highest since November 2007
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Alpha Bank posts net profits of 59.4 mln in Q2, NPE sales worth 3.7 bln planned for remainder of year
EconomyBankingthe implementation of the bank’s transformation plan as well as successful corporate restructurings. Greek NPE... billion euros QoQ to 4.1 billion euros. The funding is supported mainly by the increase of the bank’s ECB... Bond Programme. The Bank’s open market repo transactions were reduced to 6.2 billion euros
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VAT gap remains high as non-compliance overtakes revenue rise
EconomyFeaturescame to 37.8 percent against 35 percent for the EU. In December 2018, the OECD’s annual Revenue Statistics report on tax revealed that Greece’s tax to GDP ratio increased by 0.6 percentage points (pps) between 2016 and 2017, making the country’s tax rises among the highest out of 36 OECD countries
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ND promotes positive narrative abroad, away from inquiry clash at home
PoliticsGreek Politicsto more than 70 investors on Thursday, updating them on the government’s plans regarding tax cuts... suggested that Staikouras was also asked about the government’s intentions regarding privatisations... a signal to investors regarding the government’s keenness to do business, New Democracy is also
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Government looks to review visit for nod on tax package
EconomyProgrammeto the government’s determination to deliver on its promises of tax relief. One of the finance ministry’s.... The institutions will need to be convinced that the government’s revenue projections are credible... of November, leading to the December Eurogroup’s decision on the disbursement of Greek bond profits
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Fiscal issues dominate talks as fourth post-programme review ensues
EconomyProgrammethat this year’s target of 3.5 percent will be met, a development that partly alleviates any concern on the fiscal front from the finance ministry. However, next year’s budget and to what extent... areas that require the sign off from the country’s lenders. The finance ministry has estimated
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