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Newsletter 184 -23/11/2018
of a social dividend before Christmas as it has done in the previous two years. Following the abolition... reform commitments to be achieved by end-2018 are progressing, but none has been completed yet. The pace... to fall. The report noted that while employment growth has slowed down, the share of full-time
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Athens moves quickly to scrap pension cuts as Eurogroup inches forward on euro reform
EconomyProgrammea provision for scrapping the pension cuts it had agreed in 2017. The draft law has been submitted under... substantial progress on the reforms it has agreed in six areas over the next few weeks as the Eurogroup has... off any hopes the coalition has of issuing a bond in the coming months. “Let me just say
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Athens hopeful release of 970 mln will be approved at Friday's Eurogroup
EconomyProgrammewill recognise that the second post-programme review has been concluded after Greek Parliament approved... foreclosure. Athens believes that it has done enough to clinch the funds from its lenders after amending... and, according to reports in Greece, the European Commission is expected to advise that Athens has
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Banks enter final quarter with high hopes for bad loan reduction while challenges remain
EconomyBanking, Piraeus Bank has the highest NPE stock on its balance sheets with the total currently standing at 26.1... billion. NBG currently has the smallest amount of bad loans on its books, with the bank reporting... value of 1.8 billion euros. Finally, Piraeus Bank has 1.6 billion euros worth of NPE sales
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European Commission's travel guidance brings some optimism for Greek tourism sector
PoliticsGreek PoliticsGreece has welcomed the European Commission’s guidance on travel and tourism as a first step... by torpedoing the summer tourist season. The Commission has recommended that Europe’s external borders remain closed to arrivals from third-party countries until at least mid-June but has not endorsed
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EU migration pact meets with lukewarm reception in Athens
PoliticsGreek Politicssingle cohesive migration policy", has been received in Athens with guarded enthusiasm... into the EU to replace the existing arrangement which has resulted in congestion in countries of first... processed in the country of first arrival, which is often Greece. Greece has also been offered logistical
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Row over independent probe into surveillance affair threatens to boil over
PoliticsGreek Politicsscandal, an issue that New Democracy has been trying to put to bed ahead of the elections later... between the high-ranking judicial official and the independent watchdog, which has been probing... opinion, that ADAE does not have the power to investigate the complaints it has received about possible
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Mitsotakis urges EU to be proactive, PASOK looks for silver lining ahead of congress
PoliticsGreek Politicsmembers and supporters cast ballots - a figure the party has trumpeted as proof of momentum.... The leadership has seized on the turnout as evidence that the party’s base remains engaged and supportive... several hundred delegates, though PASOK headquarters has treated these numbers with thinly veiled
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Greek banks maintain focus on key areas as elections approach
EconomyBankingratio by around 90 bps. The issue has been rated Caa3 by Moody’s and CCC by S&P. According..., the bank has entered into discussions with possible investors of the Mirror portfolio, composed... million euros in serviced loans. In addition, the management of all non-performing loans has been
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HRADF development plan reviews privatisation actions for the rest of the year
EconomyMacroeconomyThe Hellenic Republic Asset Development Fund (HRADF) has revised its asset development plan (ADP... will proceed as the pandemic has affected this asset. Six pending steps are noted for this privatisation... being evaluated. The privatisation of DEPA, which is tied to HELPE, has been split into two arms: DEPA
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