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Newsletter 15 - 13/02/2015
revenues fell short of target by almost 1 billion euros. According to the Finance Ministry... to an incremental cost of 600 million for Greek banks on an annual basis, which rises near to 1... minister would involve political compromises. Tsipras set out on this road in earnest after the June
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Finance Ministry targets 3 bln from unpaid taxes
EconomyMacroeconomyDuring a press briefing on Wednesday to set out the government’s initiatives for the settlement... percent of total. The upper bracket, related to tax debt in excess of 1 million euros relates to 2,500... for the 100 instalments. Also, the cap on anyone owing more than 1 million euros benefitting from the payment
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Here's why Greece's fiscal difficulties will dominate the agenda
EconomyProgrammeThe budget execution for January revealed a revenue shortfall of almost 1 billion euros, mainly reflecting... the new property tax will be based on new “objective” prices set by tax authorities... amount close to 1 billion euros, creating a similar revenue gap in case this levy is abolished
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Newsletter 19 - 13/03/2015
. On the current level of ELA funding of 65.6 billion, this translates to almost 1 billion higher interest... not qualify for ECB eligibility as of 1 March 2015. Thus, if the ECB eases its stance, then Greek banks could... by the government’s decision this week to set up a new parliamentary committee to investigate Greece’s case
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Newsletter 20 - 20/03/2015
to a reaffirmation of the February 20 Eurogroup requiring Greece and its creditors to agree on a set..., this translates into an incremental cost of close to 1 billion on an annual basis, or 80 million per month... Common Equity Tier 1 (CET1) ratio ranging from 12.1 (Piraeus) to 15.2 percent (Eurobank). The fully
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A breakdown of the fiscal and structural reforms Greece hopes will unlock funding
EconomyProgrammefiscal impact of around 1 billion. Privatisations We believe the Finance Ministry has revised... billion set by the previous government. The key projects that are expected to be implemented... to submit eight bills introducing structural reforms in the following areas: 1) Strengthening the autonomy
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Greece rides the ghost train
Agorato 1.5 billion euros in new measures and by deeming this unacceptable, SYRIZA set the pain threshold... for the next few years (1 percent of GDP for 2015, 2 percent for 2016, 3 percent for 2017 and 3.5... million euros (0.5 percent of GDP) this year and 1.8 billion euros (1 percent of GDP) next year. We must
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Newsletter 31 - 19/06/2015
moderate outflows of around 2.9 and 1 billion, respectively. More than 70 percent of total withdrawals... BoG data, the banks’ non-performing exposure (NPE) ratio rose by almost 1 percentage point to reach... NPE exposure of 100 million, banks would have to set aside about 44 million in loan provisions
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The lenders proposals on debt and funding needs that Greeks will vote on in referendum
EconomyProgrammeof 1 percent this year and 3.5 percent in 2020 and 2022. Under scenario A, with nominal GDP growth..., with gross financing needs remaining well below the 15 percent limit set by the IMF. Under the third... tranches between end June and end October. 1) The first tranche involves 1.8 billion euros in 2014
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What next for Greece's revenues and spending?
Agoraan updated set of fiscal measures in an effort to resume negotiations for a new bailout programme... consistently below their targets throughout the first five months of the year and involve: 1) Grants... or 26.9 percent below target in the 5-month period. The main laggers relate to: 1) Consumption and non
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