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Piraeus Bank posts net profit of 24 mln in Q2, ELA funding fully eliminated
EconomyBankingformation has declined. The bank reported that across the last 12 months, NPE reduction has come... (-5.6 billion euros) and NPE sales (-2.4 billion euros). Piraeus Bank has been stepping up efforts... balances stood at 3.8 billion in late August 2018. A total of 3.1 billion in new loan generation has
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Q2 wages index falls by 0.4 pct QoQ and rises by 2.6 pct YoY
EconomyMacroeconomyquarter marks four straight quarters where the seasonally adjusted index has remained over the 90-point... was recorded in Q1 2000. Since its peak, the index has declined by a quarter on the back... now out of its final bailout programme, the government has been keen to win over voters with a focus
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Mortgage loans a key piece of NPL reduction puzzle
EconomyBanking. In particular, the mortgage sector has displayed poor performance when it comes to bringing down..., mortgage lending has continued to be the one sector where bad loans are not falling at a fast enough pace... to be formally submitted for NPL reduction targets between 2019-2021, a separate category has been
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Divisions emerge within ANEL over vote on Macedonia name deal
PoliticsGreek PoliticsParliament has met with opposition from some of his own MPs. Kammenos reiterated his position... in favour of the agreement. This would help SYRIZA, which has 145 out of 300 MPs, get closer to the majority... tip the balance in the favour of Prime Minister Alexis Tsipras, who has vehemently defended
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Equivocal Macedonia name referendum leaves Athens hanging on as views differ
PoliticsGreek Politics) on the agreement with Greece to rename the Balkan country North Macedonia has triggered doubts regarding... Minister Panos Kammenos, has said he and his Independent Greeks (ANEL) party will not support... settlement in the months to come or whether the process has hit a brick wall as a result of the turnout
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Athens and lenders yet to agree on how to drop pension cuts without creating fiscal gap
EconomyMacroeconomy. The coalition has also pledged 765 million euros of “positive” measures, mostly in the form of tax reductions... that Greece has the fiscal space to implement all of the measures it wants, to not impose the pension... last week that Brussels has approved Greece’s draft budget and that the pension cuts will be scrapped
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Retail turnover increases by 4.3 pct in August, volume rises 3.2 pct
EconomyMacroeconomyhas remained positive for six straight months so far. Apart from the negative reading in February, the index has remained positive throughout this year. The corresponding volume index also grew by 3.2 percent from downward revised growth of 2.3 percent in July. As with the sales index, February has
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Mitsotakis responds to Tsipras challenge with proposals for broad changes to constitution
PoliticsGreek Politicsthe impression that he has the country’s long-term interests at heart and that his suggestions are aimed at improving Greece’s foundations. PASOK PASOK has yet to come forward with its proposals... if there is no clear winner at the ballot box. So far, KINAL leader Fofi Gennimata has not given
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Appeals over past pension cuts sow confusion about potential fiscal impact of backpay
Economybackpay for income lost due to the pension cuts in 2012 has put the spotlight back on a decision... in 2012 as unconstitutional. This, in turn, has placed the focus on the potential fiscal implications of this decision for the pension system. The issue has surfaced at an unwelcome moment
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With eye on elections, Tsipras talks up public sector hirings
PoliticsGreek Politics) of civil servants. The government has indicated that the majority of hirings will be in the education... for these programmes has been secured via the EU-finance National Strategic Reference Framework, or ESPA as it is known in Greece. It is clear that Tsipras has decided to opt for the tried and tested method
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