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In 16th successive fall, Eurosystem funding drops by 3.5 bln in Oct
EconomyMacroeconomy. Overall, the current stock of Eurosystem funding stands 54.79 billion euros lower than the June 2015... since April 2015. Banknotes in circulation have been reduced by more than 4 billion in the past six
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Piraeus Bank posts net profits of 31 mln in Q3, records improved asset quality trends
EconomyBankingand impairment on other assets that more than offset a nosedive in trading income. The most important takeaway... Liquidity Assistance (ELA) funding and repo cost at negative rate, which more than offset the negative
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Eurobank records net profits of 85 mln in Q3, updates on NPE reduction targets
EconomyBankingreduction will be higher than 30 percent, while that for corporate NPEs will be around 50 percent... on the Emergency Liquidity Assistance (ELA) funding that more than offset a drop in the loan NII
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Greece and lenders make headway on review but labour reforms remain biggest obstacle
EconomyProgramme-performing bank exposure of more than 60 billion euros (300,000 sole proprietors, 70,000 small... entities eligible for the new process will be required to have an annual turnover of more than 50,000
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Current account surplus widens to 1 bln in September
EconomyMacroeconomyGreece’s current account (C/A) surplus expanded by more than 104 million euros or 11.5 percent from last year to reach 1.01 billion in September from 904 million a year ago, Bank of Greece (BoG... attributed to a deterioration in the services surplus by 1.77 billion – which more than offset an improvement
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Greece’s downstream oil industry adapts to shifting demands
EconomyFeaturesthan other industries. There are around 4,100 people working in the Greek oil refinement industry... with a focus on RES becoming the country’s primary source of energy rather than a feel-good
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Bank of Greece reveals lenders' NPE challenge and sets out path to recovery
EconomyMacroeconomypercent in 2019. More than three quarters of the NPE and two thirds of the targeted NPL reduction..., 1 percent better than the target of 106.9 billion, while the respective ratio stood at 51 percent
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Pieces of review puzzle yet to fall into place ahead of Eurogroup
EconomyProgrammeissues. One of the main obstacles is the labour market reforms, where a political, rather than... surplus of no more than 1.5 percent of GDP (against European projections for a 3.5 percent surplus
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New poll hurts coalition's recovery hopes as Turkey threat grows
PoliticsGreek Politicswith the government. Although these figures are between one and two percentage points better than last month... next year will be better than 2016. Of course, the government will hope that these figures will change
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Greeks’ wealth fell by 0.6 pct in 2016 for third straight decline
Economywealth. Greece’s wealth per adult stood at 103,569 dollars in mid-2016, 17.4 percent lower than... amounted to 92,804 dollars, around 15 percent higher than the European average. The breakdown
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