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  1. Greek talks go down to the wire as IMF raises major objections

    PoliticsGreek Politics

    in revenues from VAT at 1 percent of GDP (1.8 billion) versus 0.74 percent (1.36 billion) included... contribution for pensioners to 6 percent (from 5 percent in the Greek proposal), abolition

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  2. Budget primary surplus at 1.51 bln end-May, revenues fall short by 978 mln

    EconomyMacroeconomy

    is largely attributed to: 1) The delay in the collection of the first instalment of corporate income tax.... The data showed primary expenditure eased 4.8 percent in May and 6 percent in the 5-month period

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  3. What capital controls will mean for Greek banks, customers and the economy
    Photo by MacroPolis

    Economy

    among these was the declaration of a bank holiday from June 28 until July 6 and the imposition... of ELA liquidity by the ECB. However, since Greece will not be under a programme as of July 1

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  4. Newsletter 33 - 03/07/2015

    Newsletters

    of capital controls and a forced bank holiday for six working days, from 29 June to 6 July at the earliest... a short-lived rise by 1 percent in March. The highest decline was posted by automotive fuel (-10... is unlikely to en masse favour being part of a national emergency government. The other possibility

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  5. Bank holiday to end but capital controls remain and some transactions forbidden
    Photo by MacroPolis

    Economy

    rates are effective as of July 20. Moreover, the hotel VAT rate is set at 6 percent until September 30. It will be raised to 13 percent as of October 1. The legislative decree also extended

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  6. What's likely to be in the next multi-bill of prior actions Greek MPs will vote on

    EconomyProgramme

    Directive (BRRD) and taxation of farmers.* On the pension reform front, as of January 1, 2023 the new... years of contributions. The previously applied lower retirement ages will be gradually increased by 6

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  7. Travel receipts up 17 pct in May as average expenditure per trip rebounds
    Photo by MacroPolis

    EconomyMacroeconomy

    deceleration in June with the growth rate landing at 3.2 percent from 6 percent in May. The year..., international arrivals fell by 1.5 percent in June and rose by a mere 1 percent in the 6-month period. Market

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  8. Agreement on third bailout with revised fiscal and macro targets, host of prior actions

    EconomyProgramme

    : 1) Gradual elimination of grandfathering to statutory retirement age and early retirement pathways...) Full evaluation of the social welfare system, targeting annual cost savings of 0.5 percent of GDP. 6

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  9. Greek government commits to new fiscal measures for third bailout

    EconomyMacroeconomy

    for 2016-19. Among others, the latter will include: 1) The second phase of pension reforms 2) Reform... of relevant frequencies 6) Extension of taxation on Video Lottery Machines (VLTs) gross gaming revenues

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  10. Record revenue shortfall of 2.83 bln in July shrinks primary surplus outperformance

    EconomyMacroeconomy

    by 2.83 billion. This is mainly attributed to: 1) SMP and ANFA income of 1.46 billion... at 1.55 billion euros, 317 million below target. As a result, net revenues fell by 6 percent – lower

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