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Newsletter 423 - 17/05/2024
8.5 years of income to be purchased. By 2023, this has jumped to 11 years, putting Athens in par
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Lacklustre performance in EP elections raises key questions for mainstream parties
PoliticsGreek PoliticsPolitical parties in Greece are digesting the results of Sunday’s European Parliament elections, with the surprise outcome giving all key players something to think about. The aftermath finds the government chastened by a sub-par performance at the polls but faced with a divided centre-left
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IFRS 9 provisions required by banks in line with expectations
EconomyBankingis 1.1 billion euros net of tax, Eurobank announced with its full-year 2017 results that the impact... accounting standards, whose requirements include the classification and measurement of financial instruments, the impairment of financial assets and hedge accounting. The adoption of the new standards
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Economy
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SMEs, backbone of Greek economy, have shed 27 pct of jobs since 2008
EconomyThe annual report on European Small and Medium-sized Enterprises (SMEs) released by the European Commission (EC) this week showed that SME employment in Greece fell by 27 percent since 2008, which corresponds to 630,000 fewer jobs. Over the same period,...
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What capital controls will mean for Greek banks, customers and the economy
EconomyAs was expected, the referendum announced by the Greek Prime Minister Alexis Tsipras on Friday evening triggered a series of negative repercussions for the Greek banking system. The most prominent among these was the declaration of a bank holiday from J...
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Revised data shows economy shrank by higher rate of 21.4 pct from 2010 to 2014
EconomyThe Hellenic Statistical Authority (ELSTAT) published on Tuesday its second estimate of Greece’s 2014 annual national accounts, while also revising 2010-2013 GDP figures downwards compared to those released last March. According to ELSTAT, the key reaso...
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Govt ratchets up coronavirus measures, while planning further support for economy
PoliticsGreek PoliticsGreece is introducing tighter measures to discourage social gatherings, in an effort to put a stop to the widespread breaches and circumventions of the first wave of emergency measures introduced last week. Meanwhile, it is lining up further support for...
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Disposable income rises by 7 pct in Q2 as economy recovers, savings still positive
EconomyMacroeconomyHousehold disposable income increased by 7 percent year-on-year in the second quarter (Q2), from 5.1 percent in the first quarter (Q1) of 2021, according to Hellenic Statistical Authority (ELSTAT) data released on Tuesday. The absolute figure was 33.04 ...
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Greece voices support for Ukraine as govt counts cost of war's impact on economy, public finances
PoliticsGreek PoliticsPrime Minister Kyriakos Mitsotakis has made it clear that politically his government will stand with the European Union and NATO over Russia’s invasion of Ukraine as his ministers scramble to find ways of mitigating the economic impact of the war. Follo...
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