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Programme review talks continue, progress on tax, pensions and NPLs at a premium
EconomyProgrammeto be applied to all incomes. Until now, the whole tax break applies for annual income up to 21,000 euros..., with the lower rate of 22 percent to be applied for annual incomes up to 22,000. Until now, this rate...-residence housing NPLs was recently extended until April 15 through a legislative amendment.
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Gov't unveils bill to overhaul pension system, increase income tax revenues
EconomyProgrammefrom the beginning of June 2016 until the end of May 2019. A lower rise by a total of 0.5 points would be applied from the succeeding 3-year period until the end of May 2022. During a 4-year transitional period (until the end of 2020) a discount will be applied for the new contributions for the ex
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Ministry's actuarial study shows the devastating impact of the crisis on the pension system
Economyincreased retirement resulted in a notable rise in the number of pensioners. From 2000 until 2008... digit levels from 1980 until 2009. The wealth (cash reserves and bonds) of pension funds was reduced.... As a percentage of GDP, pension deficit exceeds 9 percent from 2015 until 2019 and is equivalent
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Eurozone sets out proposals for staggered debt relief for Greece
EconomyProgrammeby setting loan repayments as 1 percent of GDP until 2050 and linearly amortised after that A capping... of the 2 percent being deferred until 2050. The accumulated and capitalised deferred interest would... percent of GDP until late 2030s and below 20 percent afterwards. If, however, there is weaker growth
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Multi-bill tabled as Greece aims to take last step to completion of review
EconomyProgrammebacked by primary residences across all lending segments are protected until the end of 2017.... Contingency mechanism The legislation on the fiscal mechanism foresees that until May 10 of each..., a Presidential Decree is published until May 31 detailing the expenditure cuts related to the general
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Greek banks on cusp of improved liquidity conditions
Agoraon June 2, the ECB postponed that decision until all prior actions are implemented and the ESM... be reasonable to assume that ECB could delay its decision for a few months until there is more clarity... for the return of deposits. According to banking sources, this is not seen happening until towards
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Tight schedule to approve multi-bill, tick off remaining milestones
EconomyProgrammethat the discount until 2021 of social contributions for owners of tourism accommodation (6-10 rooms... of lower rates until the end of 2018. Moreover, the discount of 15 percent on the total amount... contributions for farmers will increase revenues by a cumulative amount of 74.7 million euros until 2019
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Review delay brings Greek liquidity needs back into focus
EconomyProgrammethe required amount from internal sources until April or June, the July payment cannot be made... negative until the end of June (-700 million in the first half) before turning positive as of July, when... finance the country’s debt obligations until June but not thereafter.
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Athens accepts review's toughest fronts remain open
EconomyProgrammethat “nothing is agreed until all the issues are resolved,” adding that “different players are raising a number of issues, but nothing can be agreed until the whole package is clear.” An agreement on those... may be deferred, few developments are expected until the board meeting has taken place
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IMF sees much scope for reform progress, particularly on tax in Article IV report
EconomyProgrammesuggests a number of significant debt relief measures including grace extensions until 2040 and maturity extensions until 2070, interest deferrals until 2040, returning of SMP and ANFA profits and locking
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