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Newsletter 31 - 19/06/2015
moderate outflows of around 2.9 and 1 billion, respectively. More than 70 percent of total withdrawals... BoG data, the banks’ non-performing exposure (NPE) ratio rose by almost 1 percentage point to reach
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As Greek deadline looms, this is how the next days could play out
EconomyProgramme. There are several options: 1) The Eurogroup approves the disbursement of the last EFSF tranche of 1.8... a programme as of July 1 for the ECB to continue providing liquidity to the Greek banks via the Emergency
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Referendum call finds Greek banks teetering on the edge
Economythat have to be addressed imminently: 1) What will happen if the ECB stops providing additional liquidity to Greek banks as of July 1 when Greece will not be under a programme. 2) Which
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The lenders proposals on debt and funding needs that Greeks will vote on in referendum
EconomyProgrammeof 1 percent this year and 3.5 percent in 2020 and 2022. Under scenario A, with nominal GDP growth... tranches between end June and end October. 1) The first tranche involves 1.8 billion euros in 2014
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Tsipras turns down last-minute Juncker offer, plans to stand aside if 'Yes' wins
PoliticsGreek Politicsbetween Greece and its lenders. Juncker reportedly proposed: 1) Tsipras commit to the institutions... ERT for a lengthy interview. During the programme, Tsipras revealed the following points: 1
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Where the key differences between Greece and the institutions lie
EconomyProgrammetargeting revenues of 1 percent of GDP and Greek authorities 0.93 percent of GDP. This difference... percentage points (pp) restoring them to their levels before July 1, 2014 when they were reduced by a similar
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What next for Greece's revenues and spending?
Agoraconsistently below their targets throughout the first five months of the year and involve: 1) Grants... or 26.9 percent below target in the 5-month period. The main laggers relate to: 1) Consumption and non
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Greece seeks 3-year programme that could exceed 65 bln
EconomyProgrammeuntil the end of 2018 standing at 29.8 billion euros including 1) Payments to the IMF of 9.9 billion... with a positive or negative impact on the gross amount. 1) The preliminary DSA called
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Unemployment rate slips to 25.6 pct in April, lowest since July 2012
EconomyMacroeconomywith a drop in the number of jobless by 1 percent compared to March. The drop in the number of unemployed... for males to 22.2 percent, while that for females eased by less than 1 pp to 29.8 percent
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A breakdown of what Tsipras and European lenders agreed to
EconomyProgrammedeficit clause to be implemented retrospectively as of January 1, 2015. o Adopt a series of product..., including in SMEs. EC will propose to increase the level of pre-financing by 1 billion to give
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