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Loan and deposit rates edge down in May but remain above euro area average
EconomyMacroeconomy. Overall, the drop in the average rates on new deposits by 10 bps and on new loans by 36 bps, led... as reduced credit risk stemming from the anticipated economic recovery may lead loan rates and spread at lower levels. This trend may be mitigated by a revival of credit expansion and banks
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Moody's upgrades Greek rating by two notches to Caa1 - here's why
Economy, Greece’s credit rating by Moody’s is still one notch below that of S&P (B- with stable outlook set... and in liberalising some areas of the product markets. In Moody’s view, these reforms have led to wage and price... with the official creditors will be challenging. The key credit challenges incorporated in the current rating
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How Samaras backed himself and Greece into a corner over bailout exit
Agoraout of 300 votes. This led to the prime minister pivoting towards a new strategy: An early bailout... with a clean bailout exit, it became clear that any departure would involve a precautionary credit... for a precautionary credit line, cobbled together from the leftovers (up to 11.5 billion euros
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Among euro area SMEs, Greeks face most problems with access to finance
Economy, it is clear there are still significant difficulties in accessing credit. In addition, trade credit... with the uncertain economic developments and sluggish profitability led to a further rise (from 22 to 29
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OECD sees more growth, falling unemployment in Greece
EconomyMacroeconomythat the strengthening of the economic activity in 2014 was led by buoyant tourism, improving confidence..., particularly in the areas of public administration and product markets and better access to credit...: 1) more credit from the banking sector following the recapitalization, 2) better export performance
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Newsletter 11 - 16/01/2015
Conditions Credit Line (ECCL). He said the conditions could include certain structural milestones that were... into a precautionary credit line, in line with the ECCL. Finally, the finance minister said that the 2014 primary... falls short of target A big drop in revenues in December led to Greece’s primary surplus narrowing
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OECD slashes 2015 growth forecast to just 0.1 pct, raises unemployment and debt figures
EconomyMacroeconomystresses that consumption and investment growth in 2015 will be undermined by deteriorating credit... and slower GDP growth led to higher debt to GDP forecasts of 180 percent in 2015 (from 174.3 percent... sector. The OECD argues that if they are not addressed, credit conditions could deteriorate further
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Marked drop of 50 bps in new time deposit rate in July amid capital controls
EconomyMacroeconomyin consumer credit without a fixed maturity (mainly credit cards) also slipped by 8 bps to 14.55... deposit rate coupled with a minor movement in the respective loan rate led the average spread up 28 bps
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NBG reports net losses of 401 mln in Q3, NPL formation accelerates in Greece
EconomyBanking. The highest NPE ratios were posted in small business loans (71 percent) and consumer credit (67... in the Greek market after the signing of the third bailout programme in mid-August led to a reduction... deferred tax credit (DTC) of 510 million, while the goodwill impairment did not affect capital
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Regling and Wieser: The key points
Agorathat by resolving issues such as the NPL framework and recapitalising the banks, credit will start flowing... and [then] credit can flow back to the economy. It’s necessary to, one, recap the banks and, two, to clear... led to increased political and economic risks. Wieser suggests that Greece needs to take a good look
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