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Bank of Greece sees growth at 0.7 pct in 2014, NPLs up to 34.1 pct
EconomyMacroeconomya slighter deterioration by more than 1 pp to 27.4 percent. For corporate NPLs (for loan amounts above 1 million euros) in particular, a BoG study showed that they are concentrated in a relatively... in the preceding two years, it improved by 1 pp to 50.5 percent at the end of June. BoG urged banks
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Newsletter 8 - 19/12/2014
could be held on January 25 or February 1. Dimas in a short period of time. The fact remains..., that all the parties have their eye on early elections, which could be held on January 25 or February 1... in the 10-month period. Of this, 1 billion was recorded in January, while time deposits posted inflows of 2
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What is in SYRIZA's 3-pillar programme to overcome the crisis?
Economyinterventions involve: 1) Subsidized meals for 300,000 poor families (estimated cost at 756 million). 2... pillars. The five interventions of this pillar include: 1) Abolition of the single property tax (ENFIA... banks with an estimated cost of 1 billion euros. 5) Settlement of unpaid tax and social security
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How SYRIZA says it will fund its economic policies
Economyby the following four funding sources: 1) Utilization of the Hellenic Financial Stability Fund (HFSF) capital... private debt (2 billion) and the establishment of new banks (1 billion). However, the use of HFSF... the National Strategic Reference Framework (NSRF), of which 1 billion relates to NSRF for 2007-2013, 1.5
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Fitch keeps Greek rating at 'B' but downgrades outlook to negative
Economyhas moderated its stance since 2012 advocating: 1) Greece to remain in the eurozone 2) Commitment... that could result in a downgrade include: 1) Prolonged political deadlock and lack of agreement..., developments that could result in positive rating actions involve: 1) Formation of a stable government
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Eurosystem funding for Greek banks shoots up by 11.2 bln in December
EconomyMacroeconomyin December reflects the combined effect of: 1) Deposit outflows of circa 3 billion in December, which...) Higher haircut on state-guaranteed ECB collaterals which reduced the system’s liquidity by almost 1... eligibility as of March 1, 2015. These collaterals relate to pillar II bonds of a government liquidity
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Greek gg primary cash surplus at 2.2 bln in 2014, arrears down to 3.75 bln
EconomyMacroeconomyof December, 803 million lower than the end-November figure of 4.56 billion and 1 billion below.... In particular, the evolution of long-term securities in 2014 relates to: 1) Two bond issues... billion in the 11-month period and mainly reflects: 1) A reduction in the bank support scheme guarantees
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Greece's fiscal, debt and funding goals as set out at Eurogroup
EconomyProgrammeinto account the following factors: 1) EFSF loans of 142 billion euros (75 percent of GDP) bear... that revenue mobilisation could fetch up to 5.5 billion in 2015 stemming from: 1) fighting illegal trading... that proceeds amounted to 1.6 billion in 2011, zero in 2012, 1 billion in 2013 and are expected at 1.5
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Greek gov't tables draft law on installments for unpaid taxes: Here's what's in it
EconomyMacroeconomythe collectability of public revenues. Tax arrears created until March 1 2015 may be included... security contributions past due until February 1, 2015. There is an elimination of penalties... be submitted by the end of April and require the payment of SSC as of February 1. According to the latest
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Updated Greek reform proposals see 2015 primary surplus reaching programme target 3 pct
EconomyProgrammeby consumption and investment expenditure. Unemployment is seen dropping by more than 1 percentage point... interventions will fetch the anticipated revenues. We highlight the following: 1) Taxation with targeted.... On social security reforms, the MoF reiterates interventions with a total cost in excess of 1 billion euros
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