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Greece gets new finance minister but old guard dominates cabinet reshuffle
PoliticsGreek PoliticsEnding days of speculation, the new Greek cabinet was named on Monday, with Eurobank economist... on private sector holders of Greek bonds (PSI). He leaves his position as an economics professor... the most of European Union cohesion funds and explore ways to provide greater liquidity to Greek
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Alpha Bank acquires Citigroup's retail banking unit in Greece
EconomyBankingAlpha Bank announced today it signed an agreement for the acquisition of Citigroup’s Greek retail... serving 480 thousand clients Citigroup has been operating in the Greek banking market under... oversubscribed by institutional investors from 15 countries. Alpha is the third Greek bank to tap debt capital
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Credit contracts at slower rate of 3.5 pct in May, balances down to 214.3 bln
EconomyMacroeconomyThe year on year (YoY) credit contraction in the Greek market further decelerated to 3.5 percent... rather limited at 140 million over this period. Credit contraction in the Greek market has been..., the management of heightened NPLs is the most important risk factor for Greek banks’ financial performance
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Coalition caught between pleasing lenders and voters ahead of next troika review
PoliticsGreek PoliticsThe troika wrapped up a brief assessment of the Greek adjustment programme this week, leaving... to boost lenders’ capital adequacy. The rest could be used to cover the funding gap. The Greek... in a particularly outspoken criticism of the Greek programme. PASOK is also pushing for individuals
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In bid to polish SYRIZA's image, Tsipras visits Mount Athos monks
PoliticsGreek Politicswith the Orthodox church. Mount Athos is a common destination for Greek political leaders (Prime... Athos was part of an attempt to put at ease the minds of many Greek voters who are concerned about... a section of the Greek population if he is seen as hostile to the church. During his visit to Mount Athos
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The tarnished legacy that will haunt the Athens Olympics
Agora, roads and airport – that Athens desperately needed. This is a legacy that the Greek capital still... have been held accountable? Greek taxpayers, who were largely the victims rather than perpetrators... went wrong. For Greek taxpayers there are no gold medals, juicy public contracts, fat salaries or fame
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Eurobank reports net loss of 301.1 mln in Q2
EconomyBankingto 382 million euros from 681 million in the preceding two quarters. In the Greek market, NPL... deleveraging, mainly in the Greek corporate sector, led gross loans slipping to 51.8 billion euros from... to 103.4 percent in Q2, which is the second lowest among the top-4 Greek banks, following that of NBG
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OECD report paints grim picture for Greece's labour market
EconomyMacroeconomyIn its 2014 Employment Outlook published today, OECD retains its estimates for Greek unemployment... the nosedive in Greek wages exceeded by far those of the other OECD countries. In the other countries under... countries, Greek wages stand above only those of Portugal by 7.7 percent.
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S&P upgrades Greece one notch to B, sees growth in 2015
Economyis scheduled by Fitch on November 21. S&P expects Greek GDP to ease 0.2 percent in 2014 and rebound... in 2014. Further on the fiscal front, S&P expects the Greek government to absorb more EU funds... foreign bond placements. The remaining amount of 6 billion will be partly met by Greek banks repaying
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ELSTAT survey finds 2013 household budgets devastated, inequality persists
SocietyThe average monthly expenditure of Greek households dropped 7.8 percent year on year (YoY... oil to that for vehicles, which resulted in a sharp rise in the heating oil price, led Greek... that Greek citizens allocate relatively more for clothing and footwear, health, education, hotels, cafes
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