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Newsletter 133
the year that pensions have to be cut by 1 percent of GDP. The prospect of both of these measures being... euros. Credit to insurance corporations increased by 70 million to just over 7 billion euros. Deductions... billion euros. Consumer credit posted marginal net declines of 7 million euros. The balance remained below
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Alpha Bank and Eurobank start new year with further bad loan sales
EconomyBankingended December with an announcement that it had sealed a deal to sell 1 billion euros of its non... be further reduced to single digits by 2021 with an NPE deconsolidation of approximately 7 billion... NPEs through a combination of the 7 billion transferred to the SPV and 2 billion from
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Tsipras vows to cancel reduction of tax-free threshold as SYRIZA seeks way back
PoliticsGreek Politicsof the July 7 vote, possibly resulting in a situation where SYRIZA can argue that it scrapped the measure... impact of around 1 percent of GDP, or 1.8 billion euros, and is seen as being important in terms... to be dissolved and the vote to be held on July 7. The SYRIZA leader claimed that his party could overturn
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Eurozone set to give next govt until Sept to address fiscal issues
EconomyProgrammeThe new Greek government formed after the July 7 elections is unlikely to have to face probing... minister will have to address after the July 7 elections. Reforms The European Commission is asking... Semester, the Commission recommends that Greece should: 1) Achieve a sustainable recovery and address
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Promises and challenges of Greece's "green new deal"
EconomyFeaturesup its renewable generation, starting with 1 GW of wind and solar power by 2024, with the aim... globally for photovoltaic penetration according to the IEA, with solar providing over 7 percent of its..., as of 2017 the country was 7 percentage points behind meeting its EU targets for renewable
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Banks discuss with govt how to release up to 25 bln in emergency liquidity for businesses
EconomyBanking. Of the total, around 18 billion euros will be used to support businesses and 7 billion... around 7 billion euros as well under the government's plans. Guarantees of 2 billion euros.... ِAn additional 5 billion euros of loans will include 2 billion euros of state guarantees, 1 billion
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Piraeus Bank posts net loss of 232 mln in Q1 due to Covid-19 impact
EconomyBanking(NII) in Q1 reached 360 million, flat year-on-year (YoY) and up by 1 percent lower quarter... for the securitisation of the Phoenix and Vega portfolios with a combined value of 7 billion euros... and 7 percent YoY. The cost-to-income ratio (excluding the pandemic-related trading impact) stood
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General govt primary cash deficit at 5.48 bln in June as tax revenues fall
EconomyMacroeconomymillion each) and SSFs (+7 million). Declines were seen in local governments (-8 million), state budget (-7 million) and extrabudgetary funds (-4 million). Since the start of the year, total arrears...), extrabudgetary funds (+24 million) and SSFs (+1 million). Drops were seen in tax refunds (-91 million
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Newsletter 261 -07/08/2020
with a rise of 94 million euros. This was followed by tax refunds (+78 million each) and SSFs (+7 million). Declines were seen in local governments (-8 million), state budget (-7 million) and extrabudgetary...) and SSFs (+1 million). Drops were seen in tax refunds (-91 million) and state budget (-3 million
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EC forecasts 9 pct dip followed by 5 pct recovery but new lockdown not factored in
EconomyMacroeconomyyear’s recovery have been trimmed by 1 percentage point, to 5 pct. Growth for 2022 is seen at 3.5 pct... are reflected on the budget. The Commission sees a headline deficit of 7 pct of GDP, with the measures..., the primary balance could be forced to exceed 7 pct of GDP, and a double-digit general deficit.
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