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PMI drops to 48.4 in May, new orders down at sharpest pace in 8 months
EconomyMacroeconomyGreece’s Manufacturing PMI fell by 1.3 points to 48.4 in May after rising in the preceding two months, the Markit survey showed on Wednesday. The headline figure for May remains below the 50-point... for Greek manufacturers. Markit noted that the worsening in May largely reflects a solid drop in new
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Portuguese election: Where those who lost may decide
Agorato pursue the path of reforms,” may have got the impression that everything will continue exactly the same. In fact, that may well happen. Or maybe not? The first change we should acknowledge... last year and made a “clean exit” from the bailout may help to explain it. Moreover, economic activity
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Finance Ministry seeks solutions to address growing housing problem
EconomyKyriakos Mitsotakis announced the launch of the “Stegasi” platform, which brings together various
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Newsletter 113 - 31/03/2017
media after the EWG admitted that the SLA may arrive after the meeting of eurozone finance... on this issue, as well as any other form of dissent that may exist within SYRIZA, is that the final... consenting to the proposed debt restructuring. Three binding offers were submitted for the acquisition
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Breaking up is hard to do
Agora, the UK Prime Minister Theresa May travelled to Brussels to take part in the meeting of the European Council, which officially endorsed the text of the Withdrawal Agreement. This legally binding international agreement together with the non-legally binding political declaration on the future UK-EU
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Budget primary surplus of 2.28 bln in first five months of 2016, tax revenues beat target in May
EconomyMacroeconomyeuros in May from a small surplus of 43 million in April. In addition, the 5-month state budget deficit... by 15.9 percent in May after falling in the two previous months. In absolute terms, revenues stood at 3.38 billion euros in May, beating the target by 514 million, which represents the highest monthly
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General gov't cash primary surplus to May halves, arrears keep rising
EconomyMacroeconomy, albeit at a slower rate, by 4.5 percent month on month (MoM) in May from 9 percent in April. The increase... showed arrears reached 5.04 billion at the end of May from 4.82 billion in April. This means that creation of arrears almost halved in May to 218 million from around 400 million in each
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Alpha, Eurobank sign agreement with KKR for management of NPLs
EconomyBankingIn a joint press release, Alpha and Eurobank announced on Tuesday that they have reached a binding.... However, the agreement remained on paper with Piraeus noting in April 2015 that the binding exclusivity... releases Q1 results on Tuesday, with Piraeus and NBG following on May 25 and 26 respectively, while
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New rules on sale of NPLs come into play after approval of omnibus bill
EconomyProgramme, including the interest rate, is not permitted. The loan management may be conducted by companies based.... Licensed companies that will engage in loan sales may also be based outside EEA. The Bank of Greece (BoG... with a binding timetable on a comprehensive mechanism of effective management of private debt. In addition
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Athens facing final steps in third review as next milestones identified
EconomyProgramme, the completion of the tender for gas grid operator DESFA (the deadline for binding offers is February... Athens to lay the groundwork for a timely conclusion to the fourth review by the end of May; agree... with binding targets for employment, growth and fiscal discipline. If eurozone finance ministers give the green
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