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In effort to reach new deal, Greek government cannot ignore liquidity constraints
EconomyProgramme-Bills & revenues The next liquidity issue, also related to Greek banks, is the rollover of 3...). Local media had indicated that the state’s remaining cash reserves do not exceed 2 billion euros, while an additional 2 billion could be raised by utilizing the reserves of the general government
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Greek time deposit rate falls to 1.82 pct in Dec, lowest during euro membership
EconomyMacroeconomy. Unlike the further drop in the deposit rate in December, the competitive yield of the 3- and 6-month... mid-2010. However, the current rate remains around 2 percentage points higher than the euro area average... cards) marginally rose by 2 bps to 14.50 percent. Overall, the average loan rate in all lending
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The government decisions that could shape the future of Greek banks
Economy. HFSF currently holds: 1) a minority stake in Eurobank (35.41 percent) and 2) a majority stake...) and 66.93 percent in Piraeus. Its majority participation in the 3 banks is currently accompanied... of this intervention was estimated at 2 billion euros. Since further details have not been disclosed
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Unemployment rate edges up to 26.1 pct in Q4 2014
EconomyMacroeconomythan 2 pp YoY to 29.6 percent. However, it is still more than 6 pp above that of men at 23.3 percent... with the unemployment rate decreasing by more than 3 pp YoY to 41.1 percent. The 30-44 age group also showed a decline by 2 pp YoY to 24.7 percent. In contrast, the 45-64 age group displayed a marginal drop
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Alpha Bank net losses rise to 440mln in Q4 2014, NPL ratio at 33 pct
EconomyBankingat 494 bps in Q4 from 216 bps in Q3 with the full year figure settling close to 3 percent. Loan loss... of 2 billion. The February breakdown showed ELA funding at 17.6 billion and ECB funding at 4.8...-Bills of just over 2 billion euros and Greek government bonds (GGBs) of 1.5 billion. The Basel III
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Greece prepares reforms list, eyes solution to liquidity shortage
EconomyProgramme” will allow for such a disbursement. 2) The last eurozone tranche of 1.8 billion euros, which is also linked to the successful conclusion of the review. 3) The return of 1.2 billion euros from the European... to yield 2 billion euros in revenues are split in three categories. The first involves fiscal consolidation
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Fitch downgrades Greek IDRs three notches to CCC, sees damage to recovery
Economyincluding bonds held by the private sector. 2) Arrears to the IMF would not in and of themselves... downgrade. 3) An exit from the eurozone, making the risk of a default event on privately held Greek..., if not the title, of a third programme of policy-conditional financial support. 2) An acceleration of Greece's
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Moody's downgrades Greek bond rating, sees chances of accident rising
Economyan agreement with its official lenders in time to meet upcoming debt repayments. 2) The significant...) An increase in the pace of fiscal consolidation and structural reforms. 2) Sustained economic growth and primary surpluses. 3) More certainty and visibility on future external financial support
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Finance Ministry wavers as revenues remain at the forefront
EconomyProgrammea tax rate of 3 percent on returning deposits but only around 600 million euros was repatriated..., local media report that the fiscal gap is seen at around 2 billion by the institutions and below 1... Tuesday (June 2).
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National Bank posts losses of 159 mln in Q1 2015
EconomyBanking(PPI) eased 2 percent QoQ to 357 million in Q1 reflecting a drop in operating income and expenses by 3 and 4 percent respectively. Net interest income (NII) fell 5 percent QoQ, largely stemming from weaker NII from Turkey (down 12 percent in TL terms) and Greece (-2 percent). The lower Greek NII
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