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Finance Ministry wavers as revenues remain at the forefront
EconomyProgrammea tax rate of 3 percent on returning deposits but only around 600 million euros was repatriated..., local media report that the fiscal gap is seen at around 2 billion by the institutions and below 1... said that additional VAT revenues should reach 1 percent of GDP, corresponding to 1.8 billion euros
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Greek debt falls to 312.7 bln in Q1 after return of EFSF bonds
Economyin Q1 and fully reflects the 3- and 6-month T-Bill issues rolling-over a total amount of 10 billion... percent is in short-term (up to 1 year) and 11 percent in medium-term (1 to 5 years) debt. Greece’s cash
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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... such a decision requires further ratification. 3) The Eurogroup does not approve either of these two... 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... be reduced in the likely case ECB applies a higher haircut on current and new collaterals. 3) What
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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... in the employee contribution for supplementary funds from 3 to 3.5 percent. The institutions object both
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Newsletter 35 - 17/07/2015
of this amount includes: 1. Amortisation of SMP and ANFA bonds held by the Eurosystem (12.7 billion); 2. Payments to the IMF (8.3 billion); 3. Redemptions of bonds held by the private sector (6.8 billion... fell below the 1 billion mark by the end of May. The commission anticipates that the new programme
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Primary surplus 3.1 bln above target in H1 on severe underspend
EconomyMacroeconomypercent in June to 575 million well below the previous months’ figures ranging between 0.9 – 1... below the FY target namely: 1) Grants to Manpower Employment Agency (at 21.3 percent of the annual target) 2) Other social security funds expenditure (at zero versus a FY target of 446 million) 3) Grants
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Fitch puts Greek banks' capital needs between 11.2 and 15.9 bln
Economycertain assumptions. In the first scenario, the rating agency assumes: 1) Non-performing exposure (NPE... coverage from 50 to 60 percent to reflect reductions in collateral values. 3) 20 percent negative... to continue to qualify as core capital. 5) Target Common Equity Tier 1 (CET1) ratio at 12 percent
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A breakdown of the funding needs involved in Greece's third bailout
EconomyProgrammeof this amount includes: 1. Amortisation of SMP and ANFA bonds held by the Eurosystem (12.7 billion) 2. Payments to the IMF (8.3 billion) 3. Redemptions of bonds held by the private sector (6.8 billion) 4... financing since August 2014, state deposits fell below the 1 billion mark by the end of May
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Newsletter 40 - 28/08/2015
and ANEL have enough seats to continue their coalition? Will PASOK pass the 3 percent threshold...-in is effective as of 1 January 2016. Since the Greek bank recapitalisation process should... in capital, accounting for around 45 percent of their Common Equity Tier 1 (CET1) capital. This means
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