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Eurobank sells NPL package in attempt to reduce bad debt pile
EconomyBanking. Instrum offered 3 cents on the euro of loan principal sold, for an amount of 45 million euros... translates into 10 million euros annually. Banking sources suggested that this inaugural transaction set the tone and price floors for the newly formed distressed debt management market in Greece, with the 3
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Newsletter 222 -04/10/2019
still stood at 45.4 percent of total loans, down from 47.2 percent. Meanwhile, the effects from... Thomas Cook for 1, 2 and 3 star hotels came to an average of 48 percent of overall turnover for such hotels. For 2019, total losses to Greek hotels stemming from the collapse of Thomas Cook were
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General govt primary cash deficit of 13.75 bln in November, arrears drop by 302 mln
EconomyMacroeconomymillion euros, bringing the total figure to a surplus of 728 million euros. The equivalent figure... the total to 2.20 million euros. This was followed by social contributions with a decline of 734 million euros taking the total to 19.60 billion. Other revenue showed a milder decline of 263 million euros
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Newsletter 257 -07/07/2020
impact of 2 billion, taking the total to date to 14-15 billion euros, which rises to The EC’s forecast..., Greece’s employment growth is set to fall by 3.5 percent this year and by 1 percent next year. Under... Greek pension funds based on several theoretical collectability criteria. Total overdue SSCs have
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China's footprint in Southeast Europe: Constructing the "Balkan Silk Road"
Agora. As of end-2015, the total value of bilateral trade surpassed Euro 3 billion. The trade balance is heavily...). In November 2016, a second Sino-CEE Investment Cooperation Fund was launched with a total volume of USD 11 billion! [3] For countries participating in the 16+1 framework, Chinese capital and infrastructure
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General gov't primary cash surplus rises to 3.4 bln in Oct but arrears also growing
EconomyMacroeconomyin the 10-month period, with the state budget figure at 2.03 billion, making up more than half of total. Last... funds' arrears rose by 141 million MoM to 2.47 billion making up half of total arrears. Hospitals’ arrears followed suit accounting for 18 percent of total. In absolute figures, they hiked to 904
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General gov't primary cash surplus markedly better in July but arrears climb
EconomyMacroeconomyto the total fiscal outcome. Local governments showed a small cash surplus of 49 million from 273... million (117 million in July) to 2.46 billion euros making up around 43 percent of total. State budget... million corresponding to more than 13 percent of total arrears. Arrears due to hospitals’ suppliers also
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Newsletter 244 -20/03/2020
euros for economic support, the government will add another 3 billion euros from the budget to that, and another 3 billion from the National Strategic Reference Framework (ESPA). The latter involves..., six people had died in Greece after contracting Covid-19 and a total of 464 were confirmed
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IMF preliminary DSA finds Greek debt unsustainable, points to need for debt relief
EconomyProgrammetargets for the next years: at 1 percent of GDP for 2015 (from 3 percent), 2 percent in 2016 (from 4.5 percent) and at 3 percent for 2016 and beyond (from 4.5 percent). 2) Lower privatization proceeds...), that will require to set aside the bank recapitalization buffer as a backstop facility, the IMF concludes
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No time for Tsipras to celebrate as long list of tasks means pressure is on from start
EconomyProgrammeor inequitable. 3) In view of any revision of the zonal property values, adjust the property tax rates... with a targeted set of actions including reduction in headcount and procurement. In addition, the Greek... of beneficiaries in March 2016. 3) The application of a penalty equivalent to 10 percent on early
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