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Newsletter 32 - 26/06/2015
revenues of 1 percent of GDP (1.8 billion euros) on an annual basis, while Greece sees them at 0.93... 1 July along with the other VAT The lenders’ proposals will burden Greek shipping and tourism... parties agree on permanent savings of 0.25–0.5 percent of GDP in 2015 and 1 percent on a full year basis
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Eurobank presents 2.12 bln equity raising plan to cover capital needs
EconomyBankingthe recently announced Liability Management Exercise (LME) with a voluntary exchange offer to a total... securities exchanged at 100 percent of nominal value, 267 million to Tier 2 securities (at 80 percent) and 78 million to Tier 1 securities (at 50 percent). As we have previously noted, Eurobank could
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Tsakalotos and Stournaras raise objections to IMF assumptions
EconomyProgrammeits long-term growth assumption from 1.25 percent to 1 percent, which is an oxymoron, according..., with the primary surplus estimated at close to 2 percent of GDP, is not incorporated in the IMF’s... returns in 2016 stood above 6 million corresponding to a total population of 10.8 million, which
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Unemployment rate falls to 21.5 pct in 2017 despite increase in Q4
EconomyMacroeconomy(over 1 year) declined for a fourth continuous quarter to 722,900. Out of the total, long-term... largely by a rise in the number of unemployed by 36,782 quarter-on-quarter to over 1 million, along... time since Q3 2011 when the absolute number of unemployed dipped below the 1 million mark. This trend
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NBG reports net profits of 131 mln in Q1, accelerating profitability
EconomyBanking(-29 million euros) and consumer loans (-1 million). This led the group NPL ratio to stand at 28.2... in Q4. The total Greek deposit yield was unchanged QoQ at 40 bps, while the loan yield came to 379 bps from 378 bps in Q4. Net fee income fell by 11 percent QoQ to 59 million and showing a decline of 2
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Labour market developments in Greece during Covid-19
Agoraas possible. Let us look at unemployment in more detail. What do the numbers from ELSTAT tell us? Figure 1... if the available total labour supply is rising or declining as a percent of the working-age population? ELSTAT once again provides the numbers as in Figure 2. What do we see? · Participation, on trend, has been
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IMF report sees a number of risks lying ahead for Greece
EconomyProgrammeclearance of 2.5 billion in 2015, which resulted in an increase of the debt-to-GDP ratio by 1... of alternative funding have decreased the projected 2020 debt ratio by 1 pp each. Debt sustainability... to 2 and 2.5 billion is foreseen in 2014 and 2015 respectively. Further policies should be tailored
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NBG reports net loss of 35 million in Q3, NPEs fall for sixth quarter
EconomyBankingat around 75 basis points (bps), while the total book is priced at 90 bps, up by one basis point compared to the previous quarter. The total Greek loan yield fell slightly to 388 bps from 393 bps... (ELA) funding from 3.8 billion in June to 2.3 billion in September. At 1 billion euros in October, NBG
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NPLs: The Achilles heel of the Greek banking system
Agoraby the EC at 24 percent, 1 pp lower than that in 2012. The BoG figure stands 2 pp higher and indicates... Adjustment Program, the European Commission (EC) came up with a higher number of the total NPL ratio... of that posted by the Bank of Greece, while the trend is also the opposite with EC showing a 2 pp
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Greece changes banks' DTA conversion law to secure ECB/EBA approval
Economyshares (capital increase) for a total amount resulting from the formula: DTC over capital times (annual) profit loss. For example, if a bank has a capital of 10 billion, of which DTC is 2 billion (20 percent of total), and the bank reports pre-tax loss of 1 billion, then the bank will proceed
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