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Greece exceeds expectations with first return to bond markets after four years
Economy-Bill auction on April 8, which was 3.1 times oversubscribed. The international investor participation.... This meant there was a sharp yield decline of 1 percentage point in February and March, whereas the yield... to around 1 to 1.5 percent, which would translate into annual cost savings of around 200 million euros
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Piraeus Bank reports loss of 247 mln for Q1
EconomyBankingpoints QoQ to 109 percent. Eurosystem funding narrowed by 8 billion within Q1 and by a further 1 billion... Core Tier 1 (CET1) stood at 14.4 percent. Taking into account the negative impact from
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Greek time deposit rate down to 1.88 pct in November, lowest since euro entry
EconomyMacroeconomy) or slightly eased (by 8 bps to 5.22 percent for amounts between 250,000 and 1 million euros... in the business loan rates was again evident in corporate loans with fixed maturity for amounts above 1 million
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The government decisions that could shape the future of Greek banks
Economy. HFSF currently holds: 1) a minority stake in Eurobank (35.41 percent) and 2) a majority stake... place in Eurobank on February 1, when Nick Karamouzis was named new non-executive chairman... told Reuters on February 8 that “he and the banks’ chairman George Zanias plan to step down in the next
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A breakdown of the fiscal and structural reforms Greece hopes will unlock funding
EconomyProgrammefiscal impact of around 1 billion. Privatisations We believe the Finance Ministry has revised... to submit eight bills introducing structural reforms in the following areas: 1) Strengthening the autonomy... system to speed up the dispensation of justice. 8) Improving the credibility and institutional
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Deposit rates stable, avg loan rate below 5 pct for first time since 2002
EconomyMacroeconomyThe interest rate on households’ new time deposits marginally increased by 1 basis point (bp... percent in the interest rate on loans with fixed maturity for amounts above 1 million euros. The rate... rate further fell by 8 bps in February to 2.36 percent, which is the lowest reading since 2002
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IMF sees Greek growth at 2.5 pct in 2015, debt at 172.7 pct of GDP
Economyunemployment rate by 1 percentage point to 24.8 percent in 2015, with the jobless rate expected to fall... by around 8–10 pp each year, ending at 124.2 percent in 2020. Although the Finance Ministry recently.... The IMF revised upward its estimates on the overall fiscal balance by more than 1 pp for 2015 and 2016
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Eurobank posts loss of 94.4 mln in Q1 as NPLs, Eurosystem funding rise
EconomyMacroeconomyliquidity buffer of 8 billion in Greece and 4 billion in its international operations. However... by 2.5 billion. Gross loans rebounded by 1 billion QoQ to 52.9 billion in Q1, yet this mostly.... The bank’s phased-in Common Equity Tier I (CET1) ratio further eased by 1 pp QoQ to 14.2 percent
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Finance Ministry wavers as revenues remain at the forefront
EconomyProgrammereached 245 million euros by May 8. The ministry aims to collect an additional 417 million by the end..., local media report that the fiscal gap is seen at around 2 billion by the institutions and below 1... said that additional VAT revenues should reach 1 percent of GDP, corresponding to 1.8 billion euros
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Newsletter 35 - 17/07/2015
of this amount includes: 1. Amortisation of SMP and ANFA bonds held by the Eurosystem (12.7 billion); 2... fell below the 1 billion mark by the end of May. The commission anticipates that the new programme..., the clearing of arrears 8 percent and state deposit build-up 5 percent. The commission highlights
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