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Athens eyes cancellation of pension cuts as Tsipras prepares Thessaloniki package
EconomyProgrammethe 1 percent of GDP in pension cuts due next year. Ahead of the first meeting of Alexis Tsipras’s new... on September 10. The main proposals for tax cuts are: 1. A reduction in the basic tax rate from 22 percent... by self-employed professionals; 4. A reduction in business taxes. According to reports, the pension cuts
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NBG remains profitable in Q2 with net results of 21 mln
EconomyBankingof small enterprises, totalling roughly 1 billion euros, which are collateralised. P&L Net interest income (ΝΙΙ) fell by 4 percent QoQ to 276 million. In H1, NII fell by 23 percent to 564 million euros... covered bonds. Capital The Common Equity Tier 1 (CET1) ratio stood at 16.2 percent in Q2 from 16.5
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Tsipras and Mitsotakis gear up for economy pledges, with eyes on fiscal targets
PoliticsGreek Politics-measures that Athens had agreed with the lenders in return for implementing the 1 percent of GDP... up with 1 billion euros to aid 800,000 low-income Greeks via a guaranteed minimum income scheme. On Wednesday, he said he would aim to grow the economy by 4 percent per year, well above the projected
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Tsakalotos states case on pension cuts in bid to overcome lenders' reluctance
EconomyProgrammearguments that the Greek government is hoping will help convince the institutions to allow the 1... consistent success in beating targets (Athens expects that this year’s primary surplus could end up above 4... budget due to be tabled to the House on October 1 will still contain plans for the pensions to be cut.
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Newsletter 184 -23/11/2018
on Wednesday, did not include the 1 percent of GDP reduction in pension spending agreed in 2017, nor... to comfortably meet its target in 2018, when the primary surplus is due to reach 7.38 billion euros, or nearly 4... for 2019 without 1 percent of GDP in pension cuts and several other crowd-pleasing measures ahead
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Piraeus Bank posts net profit of 94 mln in Q3 and 40 mln in 9M
EconomyBankingdeclining by 39 percent to 513 million euros. Net interest income (NII) edged down slightly by 1 percent... to stand at 8 billion. P&L NII stood at 346 million euros in Q3, down by 1 percent, and declining by 16... with funding from the ECB’s main refinancing operations at zero cost, utilising its 4 billion euro ECB eligible
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General govt primary cash surplus at 7.62 bln in Nov, arrears fall by 42 mln
EconomyMacroeconomy). Increases were noted in tax refunds (+107 million) and hospitals (+4 million). Since the start... underlying subcategories, T-Bills edged down by 1 million to 15.28 billion (4.3 percent... to 2.38 billion euros, or less than 1 percent of the total. Guarantees The stock of gg guarantees
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Unemployment rate inches up to 18.7 pct in Q4
EconomyMacroeconomy9,300 quarter-on-quarter. The number of unemployed came to around 881,100 in Q4, staying below the 1... by 4 pps YoY to 38.3 percent. This was followed by the 25-29 age group, where unemployment fell... percent in Q4, unchanged from Q3. The number of long-term unemployed (over 1 year) declined
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NBG reports full year net profits of 50 million euros from continued operations
EconomyBankingNational Bank of Greece (NBG) reported a net profit of 1 million euros from continued operations... in 2017. Operating expenses fel by 4 percent QoQ to stand at 229 million euros, largely driven... The Common Equity Tier 1 (CET1) ratio stood at 16.1 percent in Q4 from 16.4 percent in Q3, which
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Athens holds fire on debt schemes, prepares tax relief measures
EconomyProgrammecontributions will offer relief to more than 1 million debtors with a total of 35 billion euros.... Reports suggest that the package being considered by the government could cost as much as 1 billion... data for 2018 on Tuesday, it will show a primary surplus of around 4 percent of GDP
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