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Management of NPLs to test gov't in negotiations with lenders
Economy) Initiation of the preparatory work to update and amend the out-of-court resolution law. 2) Proposal... debts to both private and public creditors as well as execution of specific NPL resolution action. 3... of September, meaning a rise by 2 percentage points in the third quarter close similar to the asset quality
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Gov't postpones discussion on parallel programme ahead of tranche approval
Economyinterventions such as: 1) Establishment of poor citizens’ bureaus. 2) Health support for uninsured and vulnerable citizens as well as for legal immigrants. 3) Exemption of vulnerable citizens from paying... of supplementary staff of Social Welfare Centers (2 million). For most of the other measures, GAO report
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Coalition poised to unveil pension reform proposals, hoping to avoid cuts
EconomyProgrammeand granting of pensions. 2) The final pension amount will be made up by the national and the main pension with both being guaranteed by the state. 3) The national pension will amount to 384 euros... the amount that around 2 million people in the public and private sectors contribute to the social security
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Where things stand on the Greek pension reform proposals
EconomyProgrammeof the four main pension funds into the Social Insurance Institute (IKA). 2) Unified methodology for social... currently applied to salary-earners. 3) Increases in the contributions for supplementary pensions... for the self-employed. Also, the International Monetary Fund sees a fiscal gap up to 2 percent of GDP (3.7
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Time deposit rate almost stable in December, average loan rate rises 17 bps
EconomyMacroeconomy, the weighted average rate on total new deposits eased further by 2 bps to a new low of 0.56 percent in December mainly driven by a 2 bps drop in corporate overnight rate. Loans The most notable rate changes... proprietors slightly rose by 3 bps to 7.48 percent. Overall, after a reduction by 16 bps in November
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Greek stocks up for second straight week, rising by 5.5 pct
Economyresults on March 2 and 3 respectively.... 50 percent with revenues rising by 2 percent to 1.04 billion and EBITDA falling by 4.2 percent
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Greece, eurozone edge closer on pensions and fiscal gap but IMF keeps bar high
EconomyProgrammesometime in the next few months. 2) Tax rate of 30 percent on OPAP Video Lottery Terminals (VLTs... this tax will be implemented. 3) Increase in the income tax rates for farmers (estimated revenues... the pension cuts imposed in 2012. This is estimated up to 2 percent of GDP or 3.7 billion euros
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Athens and creditors edge closer on tax and pensions but gap remains on NPLs
EconomyProgrammeworking years. 2) Institutions demand a lower pension replacement rate of 0.7 percent for the first 15... percent. The government’s initial proposal pointed to rates of 0.8 and 2 percent respectively... as an incentive for a longer working period. 3) Lenders seem to accept an increase in the social security
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EU and IMF bailout drafts confirm conditionality as well as differences on primary surplus
EconomyProgrammeunconstitutional the pension cuts implemented in 2012 (estimated cost of 2 percent of GDP) 2) Personal income... and pensioners will pay tax. 3) A series of parametric measures generating savings of 1.2 percent of GDP
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Newsletter 70 - 15/04/2016
25 or 26. The Finance Minister confirmed that the anticipated fiscal gap of 3 percent of GDP by 2018.... Almost 46 percent of March hirings relate to full-time employment. 2 Club Med goes to Washington.... If the Cortes fails to elect a new prime minister by May 2, then the king will have to use his
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