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Some relief for coalition but bold claims about programme exit a concern
PoliticsGreek Politicson to other matters. Another problem that also seems to have been resolved is the fate of the three foreign... at lower rates than the New Democracy-led administration did in 2014 and make a clean exit from the programme in 2018, rather than with the support of a credit line (ECCL) like the ones the lenders
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The conundrum of Greek olive oil exports
EconomyFeaturesof Greek olive oil is exported to Europe, rather than new markets like India, China or America. Crucially... of the olive press is where the problem lies. Over 60 percent of what Greece produces is immediately... - rather than export bulk olive oil at wholesale prices, Greece should process its product, package
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The race to reduce Greece's bad loans
EconomyBankingGreece’s bank executives is fully aware of the complicated problem of reducing NPLs and the country’s..., 1.3 billion lower than the target of 93.6 billion. NPL stock came to 63.9 billion, landing exactly... NPLs came to 35 billion euros, around 600 million lower than the target. Residential NPLs landed
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New court verdict adds to concern about impact of backpay on fiscal balance
EconomyProgrammetakes the potential exposure on an ongoing basis and for backpay claims to more than 2 billion euros... newspaper put the possible total cost to public coffers for all the appeals pending at more than 6... billion euros. The legal process could yet prove lengthy and it is likely that this potential problem
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Small parties suffer as Parliament edges towards vote on name deal
PoliticsGreek Politicsparliamentary group immediately caused a problem for the government because without To Potami’s... to vote on Thursday night, when the government expects that more than 150 MPs will back the pact...-left grouping seriously weakened. KINAL is now in danger of becoming PASOK by another name, rather than
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Tsipras halts bid to help smaller parties amid opposition criticism
PoliticsGreek Politicstheir privileges in Parliament if they are reduced to less than five elected MPs but other issues, such as TV air... in check rather than the other way around. The conservatives argued that the whole affair shows what...) on 6.1 percent. No other party is seen getting more than 3 percent, which is the threshold
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Minister's actions put PM on the spot as politicians' loans stir controversy
PoliticsGreek Politicsvalue of his property is far greater than the amount he borrowed. On Monday, Attica Bank also issued... was not threatening the official. Quandary The latest incident poses a new problem for Prime Minister Alexis... owed more than 250 million euros, from 225 million in 2016. By contrast, SYRIZA’s loans stood at 6.2
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Mitsotakis appeals to centre-ground voters in bid to score decisive victory
PoliticsGreek Politicsthat if his party wins with a difference of more than 3.5 points (the gap SYRIZA had over ND in the 2014... polls suggest that more than 10 percent of voters are undecided. It is this audience that Mitsotakis... problem in voting for New Democracy. One of the tools Mitsotakis is using to entice this group
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Greek banks eye positive market appetite for bad loan sales
EconomyBankingstrategies, resulting in an NPL and NPE ratio of less than 5 percent and 10 percent respectively in the bank... Bank of Greece also said in January that it plans to leverage the Hercules mechanism for more than... after achieving this Stournaras noted that the NPL ratio in Greece will be five times higher than
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Covid-19 lockdown, slump suppress electricity demand and edge out lignite
EconomyFeaturesbelow the March average and less than half the average price of April 2019 which came in at 62.4... and onshore wind already provide electricity at lower costs than the cheapest new fossil fuel-fired... emissions, a reduction six time larger than what followed the 2008 financial crisis. There is not only
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