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Does return to markets signal end of Greek crisis? The perils of ignoring macro-economic fundamentals
Agora. For more than three years the credit contraction in the Greek economy has been deepening, with lending... by citizens’ and corporates’ capacity to increase their disposable income and working capital in order... and finance ministry, then Greece currently and in the foreseeable future has no better investor than
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Eurobank: From nationalisation to re-privatisation
Agorain order to satisfy the regulatory authorities. Each of the “new” shareholders would hold approximately... that transaction no single shareholder controlled more than 5 percent of Eurobank shares. Most importantly... aid to Eurobank. Although the state aid to Eurobank (6.24 billion) is less than half compared
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Greek elections as seen (or imagined) from Berlin
AgoraThe following is a thought experiment, which claims no more authenticity than being an exercise... percent (more than 55 percent for those aged between 18 and 25) many analysts in the Chancellery... of the electorate for new faces, political formations and above all independence from the old order
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Is post-election just pre-election in Greece?
Agoraof pharmacies. The list is longer than these few examples. This is the to-do agenda that the regular... policy makers towards Greece, but possibly in other ways than assumed in Athens. Most importantly... allies is a tall order. However, the complexity of the task demands it and a growing part of the Greek
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With prior actions pending, PASOK showing signs of adjustment fatigue
PoliticsGreek Politicsis to dismiss another 7,000 civil servants in order to reach a total target of 15,000 for both 2013... will be dismissed. The difference between the two ministers is less than 400 employees. Loverdos, backed... employees placed in the mobility scheme last year but Mitsotakis insists that no more than 500 should
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Greek PMI falls again in July, dropping to 48.7 points
EconomyMacroeconomygoods. The rate of drop in July new orders was faster than that observed in June, mainly reflecting... prices were marginally higher than in June. One of the few areas of cost pressure stemmed from...,” according to Markit analysts “Back-to-back decreases in order intakes has ended the sector’s all
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You can call it reform if you like
Agoraissue that needs to be addressed. In order to understand why these contracts have to be reviewed, we.... More than 75,000 employees applied and a total of 35,239 were accepted. New Democracy chose... votes more than PASOK and gaining a comfortable parliamentary majority. New Democracy had plenty
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Greece: Where did it all go wrong?
Agora, and if possible exceed, its fiscal targets in order to secure a reduction of its debt as had been... with no penchant for reforms or anything other than picking a fight with SYRIZA. The removal..., the International Monetary Fund would retain a role rather than bringing a successful end to its cooperation
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The bad hand being dealt to Greece's next government
Agorafor the last 2.5 years and who repeatedly assured voters that they had taken difficult choices in order... to the bailout, which will expire less than four weeks after a new government is sworn in (if the January... Liquidity Assistance (ELA) as a precautionary move. While local lenders are in much better shape than
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The demand for Greek debt relief: Is the cart being put before the horse?
Agorabudget surplus (before debt servicing) in 2013 (earlier than predicted) and in 2014, albeit at a lower level in the past year than initially projected. Hence, one key condition of such a grand debt... of the IMF in order to cover widening financing gaps. Moreover, the European Central Bank in Frankfurt
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