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General gov't cash surplus widened to 2 bln in January
EconomyMacroeconomycontributor. Unlike last year, this year’s gg balance does not include any settlement of previous years... a conclusion for this year’s performance However, after a significant drop by 1.22 billion in December... billion in 2013 mainly reflecting payments of previous year’s arrears of 6 billion. Our understanding
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Better income account helps squeeze Greek C/A deficit in January
EconomyMacroeconomyin January against a net inflow of 556 million in January 2013. Greece’s C/A deficit stood at just... to a surplus of about 2 percent in 2014. The key risk to the BoG’s short-term projections lies... markets of China and Japan. In contrast, the European Commission’s winter economic forecasts foresee
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A return to capital markets for Greek banks but no return to domestic lending
Agora, Greece’s second-biggest lender, successfully launched a 500-million-euro unsecured bond... international capital markets in 2009. In a second move both Alpha Bank, Greece’s fourth-largest lender...'. Lest also not forget that S&P's rating for both banks is still below investment grade, i.e. 'CCC
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Manufacturing PMI moved back into contraction territory in March
EconomyMacroeconomyGreece’s Manufacturing PMI slowed to 49.7 in March from 51.3 in February, falling back below..., the rate of growth eased from February’s recent high to the slowest so far this year. A decline... to output and new orders remained in growth territory in March – albeit they were lower than February’s
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Four months of decline in industry turnover almost comes to stop in February
Economystanding 13 times above last year’s levels mostly reflecting a low base effect. Computers, electronic... change. After improving for four months in a row, Markit’s Manufacturing PMI slowed to 49.7 in March... remained in growth territory – albeit they were lower than February’s peaks – suggesting
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European Commission review of Greek programme: The key points
EconomyProgrammeThe European Commission (EC) published on April 25 its fourth review on Greece’s Economic... parts of the general government, without specifying any amount. Greece’s net financing needs... the regulatory, legal and judicial environment to support bank’s NPL management Prior actions
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Greek primary surplus at 1.5 bln in Q1, aided by PIB and social underspend
EconomyGreece’s budget execution showed a primary surplus of 1.54 billion euros in the first quarter... PIB balance posted a surplus of 1.12 billion, 0.9 percent below last year’s figure of 1.14 billion... contributor to this year’s fiscal over-performance. The Greek media indicate that the MoF will table
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New Democracy and SYRIZA neck and neck for EP vote but PASOK adrift
PoliticsGreek Politics, which is running as part of the centre left Olive Tree alliance. The period when the Olive Tree’s weak... into territory beyond the 7-percent mark. The Olive Tree has been saddled with PASOK’s declining... honeymoon period is not over yet. It seems the party’s rather vague positions are not going to prevent
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Golden Dawn to compete in EP elections but its longer term future is unclear
PoliticsGreek Politics, the arrest of its leader Nikos Michaloliakos and most of the party’s other 17 MPs after the murder.... The party’s longevity depends on whether these charges stick in court and lead to convictions. If they do then Golden Dawn’s future will be in doubt. But this is unlikely to be the end of extremism
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Possibility of post-election breakup dogs Greek coalition
PoliticsGreek Politicsit difficult to continue if the socialists emerge damaged from next week’s ballot. Venizelos even went... believe that if there are any concerns about the coalition’s sustainability Venizelos should first... earthquake” if the leftists can beat the aggregate total of the two coalition party’s election
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