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Snap elections in Greece bring state's liquidity constraints into focus
EconomyGreece’s financing needs amount to 4.5 billion euros in the first quarter (Q1) of 2015... by Greek banks and usage of those additional T-Bills for ECB funding a decision by the central bank’s...’s funding problem to the real economy. Similarly to Q1, IMF and interest payments stand at 3.3
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Voting for brinkmanship while the real economy needs solutions
Agoradays of 2014. The election of the country’s president by parliament through an open roll call may...’s sovereign debt avalanche. Corporate bond yields of Greek businesses are rising sharply in tandem... afterwards is anybody’s guess at present. *Jens Bastian is an independent economic consultant
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Growth in car sales peaks in December with rise of 69.3 pct
EconomyMacroeconomyStatistical Authority (ELSTAT). December’s figure is highest reading since 2002 (from when data is available... to 8,867 in December from 5,237 last year and 7,716 a month earlier. Following December’s strong... motor cars in Attica advanced 29.3 percent to 55,904 accounting for 55 percent of the country’s figure
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Collapse in revenues brings 2014 primary surplus to 1.9 bln, 3 bln short of target
EconomyGreece’s budget execution displayed the primary surplus significantly narrowing by 1.64 billion.... This year’s performance is more impressive taking into account that 2013 numbers incorporated SMP income of 1.5 billion. It is noteworthy that the SMP income is excluded from Greece’s Economic
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Undecided voters could still decide crucial aspects of Greek elections
PoliticsGreek PoliticsUniversity’s poll for Skai TV on Monday indicated that 9 percent of Greeks have not yet chosen how... a significant impact on the outcome of next Sunday’s vote. To put it into perspective, that is well... it into Parliament. Independent Greeks and George Papandreou’s Movement of Democratic Socialists
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Greek banks set for early ELA return in apparent precautionary move
EconomyNational Bank’s decision on Thursday to remove the euro peg, which resulted in a negative FX.... According to the BoG’s latest financial statement, Greek banks’ Eurosystem funding stood at 44.9 billion..., are eligible for ELA funding. Based on September’s figures, this would correspond to an additional funding cost
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Central gov't cash surplus reaches 1.42 bln in 2014 after 1.19 bln deficit in Dec
EconomyMacroeconomyGreece’s central government primary cash balance posted a surplus of 1.42 billion in 2014 from... arrears to the private sector of 6.16 billion euros in 2013 and 1.15 billion in 2014. 2) Greece’s... BoG primary cash surplus of 1.42 billion euros to the MoF’s methodology, we get an ‘adjusted
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Bookies' odds against SYRIZA emerging with majority from Sunday's elections
PoliticsGreek PoliticsBookmakers appear confident that SYRIZA will win Sunday’s elections but without an outright... to 2.30. Political parties’ percentages The more detailed odds for each political party’s percentage... around 5 percent. Similarly, PASOK’s percentage is seen at around 4.25 percent, while odds
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Almost 50 pct rise for new unpaid taxes in 2014 as overall total rises to 73.8 bln
EconomyMacroeconomyGreece’s new unpaid taxes slowed to 1.27 billion euros in December from 1.59 billion in November.... December’s figure is the fourth highest reading in 2014 with the peak recorded in November. Furthermore.... Compared to the end-2013 figure of 62.55 billion, December’s number shows a reduction by 2.53 billion
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Greek market jitters evident as investors dump shares and bonds
Economy, tumbling by 9.24 percent. Wednesday’s performance follows a sharp drop of more than 3 percent in each... Bank of Greece. Based on Wednesday’s prices, the market value of the Greek state's holdings via... in the aftermath of Energy Minister Panayiotis Lafazanis’s statement that the firm would not be privatised
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