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SMEs, backbone of Greek economy, have shed 27 pct of jobs since 2008
Economyand their value added stood at 34 billion euros. The report shows that SMEs dominate the Greek business market, making up 72 percent of added value and 86 percent of employment. These proportions... sector is largely based on micro companies, which account for 46 percent of the SME value added
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Greece sets out plans for settling SME NPLs; mortgages to come
Economyclaim after the haircut should not exceed 75 percent of the firm’s net asset value. If an SME agrees... a reduction of 30 percent in the property value broadly, which is broadly in line with the drop... and the current property (loan) value will freeze for 10-15 years, while the remaining will continue
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Greek apartment prices down 5.8 pct in Q4 2014
EconomyMacroeconomyon year (YoY) in Q4 after a short-lived rise of 6.3 percent in Q3. The decline in volume and value... in 2014 from more than 116,000 in 2008. Similarly, the volume and value of transactions shrank by 86... to 33.2 percent in 2014. A similar pattern was also evident in the volume and value of transactions
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A closer look at planned laws for unpaid taxes and home foreclosures
EconomyMacroeconomywith an objective value (as set by tax authorities) up to 200,000 euros for taxpayers...) that provides protection for houses with an objective value up to 300,000 for the unmarried and up... plans to protect primary residences with an objective value up to 300,000, while the household’s
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Apartment prices down by 3.9 pct in Q1 for seventh straight QoQ fall
EconomyMacroeconomy) in Q1 after increasing modestly in the preceding two quarters. Volume and value of transactions... of appraisals, while the value of transactions shrank by more than 93 percent. According to the evolution... as the respective volume and value dropped by 42.5, 39.8 and 40.1 percent respectively. Apartment prices
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Rate of drop in apartment prices picks up again in Q2
EconomyMacroeconomyfrom 23.7 percent in Q1. Volume and value of transactions fell more markedly by 27.4 and 31.2 percent..., the volume and value of transactions have plunged by 92 and 95 percent respectively in this 7-year... appraisals fell by 42.5 percent and a similar drop was posted by volume and value at 39.8 and 40.1
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Greek banks brace for recapitalisation, with Piraeus initiating a bond swap offer
EconomyBankingan invitation for voluntary exchange of 593 million (nominal value) outstanding bank bonds..., a cash consideration with a cash price equivalent to 43, 9 and 9 percent of nominal value respectively or a share exchange at 100 percent of nominal value for the bulk of the bonds. If all bondholders
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Alpha makes 1.09 bln bond swap offer to boost capital
EconomyBankingof 1.09 billion euros (nominal value) outstanding bonds. The offer involves 985 million euros in senior... price equivalent to 50, 9 or 5 percent of nominal value. The second option entails a share exchange at 100 percent of nominal value for the senior bonds, 85 percent for the subordinated debt and 50
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Greece fell two places to 60th in Doing Business ranking, World Bank says
Economyof the warehouse value. Registering property (144th) in Greece requires 10 procedures, takes 20 days and costs 4.9 percent of the property value. The report also notes that beyond the efficiency... of the real estate value of an insolvent firm, while the process takes 3.5 years. On the administrative
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Eurogroup gives Greece another week to agree measures, keeps tranche and recap funds on hold
EconomyProgrammeshould protect only the most vulnerable, meaning those indebted with a property value up to 120,000... for each child. The government’s initial proposal involved more relaxed criteria with the property value... at a property value around 180-200,000 euros and annual income below the 30,000-euros mark. Same
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