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Newsletter 131 - 8/9/2017
was meant to be completed in the summer. The Administrative Reform Ministry has drafted... Authority (ELSTAT) labour force survey revealed. The headline figure means that the jobless has now..., the jobless rate has been reduced by 2.3 percentage points (pp) on the back of a drop in the number
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Eurosystem funding drops by 5.1 bln in Aug driven by ELA fall
EconomyMacroeconomyprogramme review, central bank funding has fallen by 50.41 billion, with around two-thirds of this decrease attributed to lower ELA funding. Greek banks’ Eurosystem funding has decreased... for August is the second time since January 2015 that the figure has fallen under the 40-billion
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Coalition bolsters unity in face of opposition pressure
PoliticsGreek Politicsonly recognises a Muslim, rather than Turkish, minority in northeastern Greece and has refused... of instability within the coalition has been lifted but also suggests that Tsipras and Kammenos have taken... blow for the leftist party but Chrysogonos has often been critical of the government since 2015
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NBG steps back into markets with 750 mln covered bond issue
EconomyBankingThe National Bank of Greece (NBG) has become the first Greek bank to venture back.... The sale marks the first time a Greek bank has sold a bond on the international markets since 2014. There has not been a covered issue by Greek banks since 2009. The bond issue attracted over 2 billion
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Opposition parties seek renewal as Tsipras visits Washington
PoliticsGreek PoliticsNew Democracy leader has been that he want to introduce more outside expertise and dilute the narrow party-based system of appointments. He has also, for instance, pledged a major renewal... has closed the gap on the centre-right grouping since the summer. The announcement of the new advisory
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Sub-tranche released but PPC poses key challenge in review
EconomyProgrammeagreement to be reached before the Eurogroup on December 4. If the review has not been concluded... customers, which is equal to 46 percent of its annual turnover, while it has outstanding debts of 3.8... lenders (compared to 65 percent today), after ENFIA property tax has been settled and employees paid
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Tsipras invites Middle East investment at second EU-Arab summit
PoliticsForeign Policy. Referring to the common history of the two regions, Tsipras said, “Greece has a crucial location... Greece makes it clear that it has, in fact, left the crisis behind it and is entering a new era... hydrocarbons, tourism, culture, property investment, shipping and education. “Our energy relationship has been
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PASOK emerges victorious from first round of centre-left leadership vote
PoliticsGreek PoliticsGiorgos Kaminis, who has enjoyed the Socialist party’s support on the two occasions he was elected... has created and develop a policy programme that is able to carve out space for the centre-left, which has found itself marginalised by Mitsotakis’s reformist rhetoric and Tsipras’s ability to show
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Fall in apartment prices continues with slower decline of 0.6 pct in Q3
EconomyMacroeconomypercent in 2013. The trend has been decelerating since 2016, with the rate of -2.4 percent being.... The housing loan balance has contracted by more than a quarter since the end of 2010. Net deductions... exposures (NPEs) as of August according to the BoG. Building activity has displayed some positive
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NBG reports net loss of 35 million in Q3, NPEs fall for sixth quarter
EconomyBankingin Q2. Since the end of the quarter, it has declined by an additional 1.3 billion to stand at 4.7... has the lowest ELA funding levels among the core Greek banks. Outstanding interbank funding stands... markets. NBG notes that since the imposition of capital controls the bank’s deposit base in Greece has
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