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What does a bailout exit with a precautionary credit line mean for Greece?
EconomyProgrammetypical size is expected to vary between 2 and 10 percent of the concerned country’s GDP. Surveillance... and abolition of retirement exclusions from the general aging limits. 2) Abolition of nuisance, or parafiscal, taxes. 3) Changes in the tax auditing mechanism that would also ensure the independency
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Troika and Greece in stalemate over budget targets, prior actions as time ticks away
EconomyProgrammeits fiscal gap projection to less than 2 billion euros. Although Parliament voted an amendment... the 2 percent included in the draft budget published on October 7, but above the Medium-Term Fiscal... of 3 percent, in line with the MTFS target and marginally above the 2.9 percent incorporated
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Greece's 2015 budget: A breakdown of all the key figures
EconomyMacroeconomy(1.8 percent of GDP), lower than the 2 percent incorporated in the draft budget and the 2.3 percent... billion euros (3 percent of GDP), in line with the EAP target and above the 2.9 percent estimated... in negative territory (-2 percent). Unemployment is seen easing by 0.7 percentage points (pp) in 2014
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Newsletter 9 - 30/12/2014
will strive to pass the 3 percent threshold needed to enter Parliament and offer themselves as potential... of 5 percent to 2 percent for 10 years. This looks more like a debt reprofiling, with lower... percent, respectively, over the next five years. 2 Voting for brinkmanship The real economy needs
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New Democracy and PASOK ponder next moves after election defeat
PoliticsGreek Politicsthat a narrow defeat of 2 to 3 percentage points would be manageable for Samaras. However, SYRIZA’s... Sunday’s results came in (he pointed out that the party lost just under 2 percentage points compared
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In effort to reach new deal, Greek government cannot ignore liquidity constraints
EconomyProgramme-Bills & revenues The next liquidity issue, also related to Greek banks, is the rollover of 3...). Local media had indicated that the state’s remaining cash reserves do not exceed 2 billion euros, while an additional 2 billion could be raised by utilizing the reserves of the general government
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Greek time deposit rate falls to 1.82 pct in Dec, lowest during euro membership
EconomyMacroeconomy. Unlike the further drop in the deposit rate in December, the competitive yield of the 3- and 6-month... mid-2010. However, the current rate remains around 2 percentage points higher than the euro area average... cards) marginally rose by 2 bps to 14.50 percent. Overall, the average loan rate in all lending
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The government decisions that could shape the future of Greek banks
Economy. HFSF currently holds: 1) a minority stake in Eurobank (35.41 percent) and 2) a majority stake...) and 66.93 percent in Piraeus. Its majority participation in the 3 banks is currently accompanied... of this intervention was estimated at 2 billion euros. Since further details have not been disclosed
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Unemployment rate edges up to 26.1 pct in Q4 2014
EconomyMacroeconomythan 2 pp YoY to 29.6 percent. However, it is still more than 6 pp above that of men at 23.3 percent... with the unemployment rate decreasing by more than 3 pp YoY to 41.1 percent. The 30-44 age group also showed a decline by 2 pp YoY to 24.7 percent. In contrast, the 45-64 age group displayed a marginal drop
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Alpha Bank net losses rise to 440mln in Q4 2014, NPL ratio at 33 pct
EconomyBankingat 494 bps in Q4 from 216 bps in Q3 with the full year figure settling close to 3 percent. Loan loss... of 2 billion. The February breakdown showed ELA funding at 17.6 billion and ECB funding at 4.8...-Bills of just over 2 billion euros and Greek government bonds (GGBs) of 1.5 billion. The Basel III
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