Search
-
Greek banks in intensive care: What lies ahead?
Agorabank failure cannot be avoided. The resolution tools mainly consist of powers to: 1) Effect private... banks. At the end of Q1 2015, Greek banks’ Basel III Common Equity Tier 1 (CET1) ratio stood at 12.7... a key role in the future architecture of the domestic banking landscape including: 1) Market concerns
15% -
EU makes dramatic revision to economic forecasts, sees recession of 2-4 pct this year
Economytargets. In specific, a primary deficit of zero to 1 percent is now projected for 2015, a primary balance of 1 to 0.5 percent in 2016 and a primary surplus of 2.25 to 2 percent in 2016. However... the next three years, the EC projects they would reach 81.7 billion and stem from: 1) Bank
15% -
What this week's VAT changes mean for household budgets and public coffers
EconomyProgrammerates applied to islands starting from October 1 for islands with higher incomes, which are also the most popular destinations, to be extended to the other islands as of Jun 1, 2016. This would result... on hotels will also be effective as of October 1. However, since VAT rate on catering has been moved
15% -
Newsletter 36 - 24/07/2015
that the recapitalisation of Greek banks will be concluded well ahead of 1 January 2016, when the bail-in tool... – either individually or in combination. These tools involve: 1) splitting bank operations that can... for an in-depth discussion on the following issues: 1) the impact on banks’ fundamentals from the imposition
15% -
Drop in corporate loan rates led the average loan rate at a new historic low
EconomyMacroeconomyremains the highest in the eurozone and almost 1 percentage point (pp) above the euro area average... on new deposits eased by 1 basis point (bp) to 1.09, largely reflecting a 5 bps drop..., the decline was lower, by 23 bps to 4.94 percent for loans between 250,000 and 1 million and by 16
15% -
Early rounds of talks with lenders focus on possible prior actions
EconomyProgramme. These measures involve: 1) Changes in the laws for hirings in the public sector, settlement of tax arrears... and other tax measures that would increase revenues, a primary deficit of 0.75 to 1 percent of GDP... billion tranche to cover: 1) The redemption of the Greek government bonds of 3.2 billion euros held
15% -
Draft bill sees millions in savings and revenues from variety of bailout interventions
EconomyProgrammewith a net positive impact of more than 600 million euros in 2016 are as follows: 1) Annual revenue... in the excise tax on diesel for farmers (from 66 euros per 1,000 litres to 200 euros as of October 1, 2015 and further to 330 euros as of October 1, 2016) is anticipated to raise 13 million euros in 2016
15% -
European Commission evaluates impact of bailout programme
EconomyProgramme: 1) Granting guaranteed contributory pensions only at the attainment of the statutory retirement.... According to the Commission, the main objectives of these further reforms are to: 1) Establish... is estimated to increase revenues by around 1 percent of GDP with current VAT revenues accounting
15% -
Revenue uptick unable to stop 7-mth primary surplus outperformance falling to 724 mln
EconomyMacroeconomyunderperformance in July revenues, which primarily stemmed from: 1) No receipt of SMP and ANF income... 1 percent to 4.34 billion, marginally above target of 4.32 billion. Tax refunds dropped by 22.8... underperforming items related to grants to SSS and operational and other expenditure include: 1) Grants
15% -
Marked drop of 50 bps in new time deposit rate in July amid capital controls
EconomyMacroeconomyrelate to loans with fixed maturity. In particular: 1) Sharp rise by 89 bps to 5.83 percent for amounts above 250,000 and below 1 million euros. 2) Significant drop by 58 bps to 3.94 percent for amounts above 1 million euros. The July rate indicates the lowest reading since June 2010. Greek corporate
15%