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Compromise emerges on liberalisation of NPL market
EconomyProgramme-residence backed NPLs across all lending categories until the end of 2017 under certain criteria... until mid-May but the market would be fully liberalised after this point. The government had... that the sale of large corporate and non-primary residence backed mortgages has been allowed since mid
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Mitsotakis to set out lockdown relaxation plan as ND scales back economic support
PoliticsGreek Politicshigh schools are expected to open after May 10, with primary schools due to follow later in the month... on the primary residence protection programme, which is due to expire at the end of the month... not rule out the possibility of the government extending the primary residence scheme without
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ND braces for deeper economic impact from Covid-19, mulls more assistance
PoliticsGreek Politicsin this second round, following 600 million euros that was transferred back to businesses in May... their residence as collateral for a small business that has experience a fall in revenue. Eligibility will be based on the homeowners’ income, overall wealth and the value of the primary residence
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Record FDI flow into Greece raises bar, but is it sustainable?
EconomyFeaturesin 2014 which offers residence permits to foreign investors. Just over 9,600 residence permits were... investments taking longer to recover. This may suggest a trend towards more productive inward
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What is driving the Greek housing market's recovery?
EconomyFeaturesoversupply of housing stock, and that any apparent tightness in the market may be more to do... the intuitive interpretation. Since the introduction of the investment-based residence scheme in 2014... the scheme remains among the cheapest in Europe. The reluctance to scrap or radically reform the residence
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Credit contracts by slower rate of 2.1 pct in May
EconomyMacroeconomyGreek bank credit contraction further decelerated to 2.1 percent in May from 2.4 percent in April, according to the Bank of Greece (BoG). The May headline figure is the slowest drop since August 2011... deductions to 253 million in May from 542 million in April and is entirely attributed to household
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Unemployment rate fell to 25 pct in May, its lowest level in the last three years
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate fell for the second straight month in May, when... (ELSTAT). The May headline figure is the lowest reading since June 2012. The non-seasonally-adjusted...) from 25.5 percent in April to 24 percent in May. This is also the lowest reading in the past three
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Five-month budget primary surplus of 2.27 bln, revenues outperform in May
EconomyMacroeconomy. On a monthly basis, the budget execution displayed a primary deficit of 448 million euros in May, from a surplus of 43 million in April, mainly reflecting a deterioration of the PIB balance in May. The state... (before tax refunds) strongly rebounded by 15.5 percent in May after dropping in the preceding two
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Jan-May travel balance of 1.78 bln beats same period in 2019
EconomyMacroeconomyGreece’s travel balance recorded a surplus of 1.19 billion euros in May, accelerating from the 432.1 million euros in April, according to Bank of Greece (BoG) data released on Friday. May’s balance was significantly higher than the 144.7 million euros registered in May 2021. It was also higher than
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Athens prepares new primary residences proposal after finding common ground with banks
EconomyProgrammefor protecting primary residences from foreclosure. The two sides appear to be moving closer to each other following their talks at the beginning of the week. A new meeting may be held on Friday
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