Search
-
Pension reform wrangle prompts Greece to consider going own way on contributions rise
EconomyProgrammefor January, after the second set of milestones has been completed, the issue is already beginning...) called for pension reform savings of 0.25 percent of GDP in 2015 and another 1 percent in 2016... in contributions could reach 2 percentage points (pp), of which 1.5 pp will burden employers (1 pp for main
17% -
Greece stands on fault line between vicious and virtuous cycles for 2016
Agoraan extensive pensions cost saving exercise that has to deliver complete savings of 1 percent of GDP... in Yen maturing in February. The state’s budget foresees a primary surplus of over 1 billion euros... is far from over and it will once again set the tone for the New Year in the ongoing cycle that has
17% -
Gov't submits reform plan that raises contributions and cuts future pensions
EconomyProgrammerates. We present below the key interventions of the government’s 170-page final plan: 1... compared to the current pension system. 8) The upper pension limit is set at 2,300 euros and at 3,070... for the supplementary funds increases by 1 percentage point (pp) to 4 percent for employers and by 0.5 pp
17% -
First days of talks confirm gap between Greece, lenders on pensions
PoliticsGreek PoliticsTwo important developments emerged from the first set of negotiations between the Greek government... for increasing the social security contributions for supplementary pensions by 1.5 percentage points (1 point... million euros to achieve the bailout pledge for pension cost savings of 1 percent of GDP (1.8 billion
17% -
BoG outlines steps to economic recovery, updates on banks' asset quality
EconomyMacroeconomyinvolve: 1) Further strengthening of the banking system by addressing the huge stock of non-performing loans (NPLs). The BoG will set high-level operational targets for NPLs applicable as of June..., Greek banks’ Common Equity Tier 1 (CET1) and total capital adequacy ratios reached 18 percent
17% -
Piraeus first Greek bank to repay Pillar II bonds, others to follow
EconomyBankingthat were also used for liquidity. The initial amount of that programme was set at 28 billion euros... 1 billion. In addition, Pillar III bonds were only held by NBG for a cash amount of 1.2 billion... basis points above that for ECB funding), while the fees paid to the Greek state exceed 1 percent
17% -
A breakdown of the 5.4 bln in measures that form basis of agreement between Greece and creditors
EconomyProgrammeAlthough Greece and its lenders are continuing to debate how to set up an extra 2 percent of GDP... and indirect tax measures, with estimated revenues or cost savings of 1 percent of GDP (1.8 billion... retirement pay amount exceeds 1,300 euros, rise in contributions for supplementary pensions by 1
17% -
Government faces tight schedule for amendments to bailout legislation
EconomyProgrammeGreece has a matter of days to fulfil the remaining conditions set out by the Eurogroup last week... actions by June 1, before the meeting of the ECB Governing Council on June 2, which is expected... sub-tranche. Houliarakis said that 1.8 billion euros (1 percent of GDP) of this amount will be used
17% -
Government hopes offer of tax breaks and grants will spark growth boost
EconomyMacroeconomyin the subsidy framework is set at 500,000 euros for large corporates, at 250,000 euros for medium... study revealed that an investment of 1 euro in one quarter results in a cumulative increase of GDP... 1 billion. The two scenarios assume state subsidies of 3.5 billion. Market sources note that around
17% -
Newsletter 98 - 02/12/2016
at the end of September, 1 percent above the target of 106.9 billion, while the respective ratio stood... index edged up 1 percent month-on-month to 71.9 in September and stands close to its mid-2002 level..., it is a set of events that cannot be dismissed out of hand. However, it continues to appear the least
17%