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Newsletter 184 -23/11/2018
on Wednesday, did not include the 1 percent of GDP reduction in pension spending agreed in 2017, nor... for 2019 without 1 percent of GDP in pension cuts and several other crowd-pleasing measures ahead... on track with its economic goals and forecasts. Greece seems set to beat last year’s tourism arrival
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Eurobank net profits from continued operations fall by 12.2 pct in 2018
EconomyBankingloans, with NPE formation of -3 million. A rise of 1 million had been noted in Q3. NPL formation also... with Grivalia is set to leave Eurobank with the highest total capital ratio in Greece. P&L NII rose... 109.6 percent in 2017. Capital The phased-in Common Equity Tier 1 (CET1) ratio increased to 16.2 percent
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Athens waits for green light from Eurogroup so it can settle IMF loans early
EconomyProgrammedays as Athens looks to secure the disbursement of nearly 1 billion euros from the Eurogroup on April... framework, reports suggested. The lower ceilings set on business loans mean it is estimated that no more than 10,000 loans in this category will qualify, representing 1 billion euros of debt, To Vima
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In latest election pledge, Tsipras vows to ditch lower tax-free threshold
PoliticsGreek Politicswere due to lead to 1 percent of GDP in savings but were also designed to create greater fairness among pensioners, the reduction to the tax-free threshold is also aimed at generating an extra 1... cheap borrowing, we have liquidity, we have the IMF set to leave,” he said. “Based on this, we can
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Piraeus confirms deal with Intrum for 27bln in NPLs as Eurobank launches SPV
EconomyBankingthat will manage the real estate owned assets portfolio, which contains properties worth around 1 billion... purchase price for Ιntrum’s acquisition of the majority share of the platform has been set at 328 million euros, with both parties aiming to close the transaction on October 1, 2019. The end result
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Institutions warn of fiscal target being missed, reforms slowing
EconomyProgrammepackage, which was set to enter into force in January 2020. This involves not broadening the tax base as planned and not creating an extra 1 percent in fiscal space for growth-enhancing reforms... estimate will have a fiscal cost of more than 1 percent of GDP in 2019 and beyond. These range from
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BoG report highlights economic challenges, proposes way forward
Economythat the European Commission estimated in its latest post-programme report in the volume of 1 percent... confirmed while capital adequacy remains satisfactory at 15.5 percent, with the Common Equity Tier 1... out a set of policies that will transition Greece towards a “sustainable, extroverted growth model led
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New Democracy tax pledges put spotlight on available fiscal space
EconomyProgrammebring in just over 1 billion euros in revenues each year. Mitsotakis also declared his government’s.... Ceilings on spending have already been set, at 45.2 billion for primary expenditure, 6.7 billion... to allow any firms that owe up to 1 million euros to the state to join the scheme. Regling
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ND sees first tax cuts as fair, hopes to build case for lower fiscal targets
PoliticsGreek Politics, submitted to Parliament under the emergency procedure on Friday, is set to secure the support..., pointing to the 10 percent reduction in ENFIA for properties worth more than 1 million euros. SYRIZA... of taxpayers own properties worth more than 1 million euros. Vesyropoulos gave examples of how much
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NBG reports net profits of 122 mln in Q2, highlights successful bond sale
EconomyBankingquarter, falling by 1.4 billion euros QoQ. This was driven by sales of NPE portfolios totalling 1... the end of 2015, NPE reduction has reached 8.6 billion euros. The bank has set a target to reduce.... The negative formation in Q2 came to 1.36 billion euros, which includes 1 billion euros from the ‘Mirror
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