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Social support in Greece not adequate enough to deal with crisis, says OECD
Societythe attention of Greece and its lenders: 1) The major decline in household income Total household income... has nearly doubled since 2012 as many as 1 in 5 Greek working-age adults now live in a household where nobody works.” 3) The lack of effective social policies The social protection system in Greece
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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... to the average quarterly figure of 3 percent in 2013. Cumulative provisions of 14.2 billion correspond to 19.2... Core Tier 1 (CET1) stood at 14.4 percent. Taking into account the negative impact from
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Budget execution shows primary surplus of 711 mln, 503 mln ahead of target
EconomyMacroeconomyrevision mainly reflects higher forecasts for revenues (by 1 billion), more than offsetting higher... at 2.35 billion from more than 3 billion in each of preceding four months of 2014. Thus... period. This implies an average figure exceeding 1 billion per month. Although the April figure of 763
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Multi-bill passes but coalition's relationship with armed forces and police sours further
PoliticsForeign Policy-tranche of 1 billion euros, and 47 lawmakers opposed it. The multi-bill contained a raft of reforms... the next 1 billion euros from its lenders. Greece has 5.6 billion euros of bonds maturing this month.... Greek ministers will meet troika representatives in Paris between on September 3 to 5
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Greek central government debt rises to 322.4 bln in Q2
Economyredemptions of 9.4 billion in May and the 5-year bond issue of 3 billion in April. The net rise in FSM loans... exceeding 5 years, while the remaining 21 percent is equally split between short (up to 1 year) and medium (1 to 5 years) term debt. Greece’s cash deposits rose by around 1.5 billion euros
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Primary surplus inches up to 2.9 pct in Greece's 2015 draft budget
EconomyProgram (EAP) target of 3 percent. The upward revised estimate for 2015 primary surplus compared... sector. Kathimerini also noted that the Finance Ministry anticipates increased revenues by 1 billion... the target by almost 1 billion. However, 8-month revenues fell short of their target by 107 million
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Greece's 2015 budget: A breakdown of all the key figures
EconomyMacroeconomybillion euros (3 percent of GDP), in line with the EAP target and above the 2.9 percent estimated... following a downward revised modest growth of 1 percent in 2014) and a higher growth in exports (+5.2... territory in 2014 at -1 percent (from -0.8 percent before), turning to a marginal inflation of 0.3
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Greek time deposit rate down to 1.88 pct in November, lowest since euro entry
EconomyMacroeconomydeposit rate reached a high of just over 5 percent in June 2012 and has slipped by more than 3... in the business loan rates was again evident in corporate loans with fixed maturity for amounts above 1 million...) or slightly eased (by 8 bps to 5.22 percent for amounts between 250,000 and 1 million euros
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Moody's explains why it sees SYRIZA win as credit negative
Economytakeaways from the report include: 1) New coalition government will likely challenge troika stance 2) Election outcome further complicates the country’s refinancing challenges 3) Political and financial... program. Moody’s forecasts GDP growth at slightly above 1 percent in 2015, while sees significant
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Greece and lenders with conceptual, as well as practical, gaps to bridge
PoliticsGreek Politics. These are: 1) Negotiating directly with European institutions and the International Monetary Fund 2) Not accepting any more bailout loans 3) Reducing Greece’s debt pile 4) Lowering fiscal targets 5... the relaxation of fiscal targets (Varoufakis says he is aiming for a primary surplus of 1 to 1.5 percent
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