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Alpha Bank launches major securitisation as banks ready portfolios for Hercules scheme
EconomyBankingloans, 10 percent large business loans and 2 percent marine loans. Along with 95 percent of mezzanine... is expected to be around 2 billion euros. The process allows potential investors to submit non-binding bids..., Piraeus Bank said that the bank was on track to meet its NPE reduction targets and would prepare 3
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Pension bill to be unveiled as govt prepared for fifth post-MoU review
PoliticsGreek Politicsaround 3 bln euros of bad loans) and the updating of the bankruptcy law will also be discussed. The new.... The government has set a goal of 2 percent, but could be content with a 1 percentage point reduction to 2.5 pct of GDP which would give it an additional 2 billion euros of fiscal space in the coming year
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Athens steps up drive for fiscal space as fifth post-MoU review continues
EconomyProgramme. If approved, this could secure up to 4 billion euros for investments and 2 billion euros for tax relief. The government is searching for over 2 billion euros of fiscal space in the 2021 budget and at least... at least 3 percent GDP growth in 2020, as well as getting the institutions’ agreement for a reduction
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Mission chiefs pick up fifth review baton as Greece mulls new bond issue
EconomyProgrammeoperations, 2) Lower funding costs further, 3) Contain interest rate, FX and refinancing risks.... plans to raise 2-2.5 bln euros and the yield is expected to be around 2 pct, if a landmark 15-year bond
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Lenders conclude 'productive' talks on fifth review but issues remain as Athens targets fiscal space
EconomyProgrammewent sour during the crisis will also need to be settled as banks are claiming more than 2 billion... of the main target groups during the election campaign, and is looking for approximately 2.7 to 3 billion... rates by 2 percentage points. Combined these two interventions require close to 1.9 billion euros
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Piecemeal process likely in drive for more fiscal space
EconomyProgrammecase it will free up 0.6 pct of GDP space towards tax cuts. The government plans to direct 2 billion... that the reduction in borrowing costs alone since the start of the year has created already fiscal space of 2 billion euros, or 1 pct of GDP, and as such the primary surplus goal can drop to at least 3 pct over
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Retail turnover edged up by 0.2 pct in Dec, annual increase at 1.3 pct
EconomyMacroeconomyat 1.3 percent compared to an increase of 2 percent in 2018. The corresponding volume index dropped..., followed by clothing and footwear (+3 percent), automotive fuel (+2.2 percent) and supermarkets...) and supermarkets (-2 percent). The monthly seasonally adjusted (SA) retail sales index in December fell
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A sudden turnaround that could lead to sharp shock
Agoravisitors from Germany, followed by the UK, France and the US. Receipts from Germany were close to 3... businesses, or 90 pct of the active total, being under some sort of support, encompassing a total of 2.... The Finance Ministry plans to commit up to 2 pct of GDP in the form of direct support, which
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Banks discuss with govt how to release up to 25 bln in emergency liquidity for businesses
EconomyBankingaround 7 billion euros as well under the government's plans. Guarantees of 2 billion euros.... ِAn additional 5 billion euros of loans will include 2 billion euros of state guarantees, 1 billion... releases 3 billion funds from the banks, which upon leveraging will total 30 billion. Minister
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Overall loan interest drops to series low of 4.06 pct in March
EconomyMacroeconomyto 3.90 percent. The spread between existing loan and deposit rates fell by 3 bps month-on-month..., which includes credit cards, open account loans and overdrafts rose by 2 bps to 14.67 percent. The average interest rate on consumer loans with a defined maturity at a floating rate rose by 2 bps to 10.67
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