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Settling rising private debt? The IMF has some ideas
EconomyThe settlement of Greece’s unpaid private debt, estimated at 160 billion euros or 88 percent of GDP, has recently emerged as an important issue in the discussions between the Greek government... sector’s balance sheet. Removing uncertainty and in some cases providing debt relief will have
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Greek retail sales dive 8.5 pct in May after brief rise in April
EconomyMacroeconomyThe turnover of Greece’s retail trade index resumed a negative trend in May dropping by 8.5 percent year on year (YoY) after increasing by 3.8 percent in April, according to the Hellenic Statistical... price reduction. ΙΟΒΕ’s previous projection indicated a -2 percent drop and the upgrade followed
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Greek PMI falls again in July, dropping to 48.7 points
EconomyMacroeconomyGreece’s Manufacturing PMI headed south for the second successive month in June, easing by 0.7 points to 48.7 in July from 49.4 in June, according to Markit. This was the lowest reading since October...,” according to Markit analysts “Back-to-back decreases in order intakes has ended the sector’s all
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Greek primary cash surplus reaches 1.8 bln in H1 2014
EconomyMacroeconomyin the 6-month period reflects the tranche of 6.3 billion euros from Greece’s eurozone partners in April... in June, from 9.79 billion in December, following the Greek bank’s zero reliance on ELA funding
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Finance Ministry scrambles to correct property tax after error-strewn debut
EconomyMacroeconomyproperty levy because it believed it could benefit politically. Greece’s lenders were skeptical about... of this year’s fiscal targets. The payment of ENFIA coincides with the payment of income tax, which
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The challenge in Greece: Funding an emerging economic recovery
Agoradevelopment, some inconvenient questions have to be asked. It is not the author’s intention... for the authorities in Athens. This includes kick-starting investment in the country’s infrastructure
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Industrial turnover rebounds by 10.5 pct in June after three months of decline
EconomyMacroeconomydrop of 46.3 and 30.1 percent respectively. Unlike the hard data for June, Markit’s Manufacturing PMI... in order intakes has ended the sector’s all-too-brief return to expansion, with the consequent dip
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Greek cash deficit to July narrows 78.3 pct to 1.72 bln
EconomyMacroeconomyGreece’s central government net balance on a cash basis showed the deficit narrowing by 78.3 percent to 1.72 billion euros in the 7-month period from 7.93 billion last year, according to the Bank... the BoG primary cash surplus of 2.42 billion euros with the MoF’s methodology, we get an adjusted
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How Greek banks' capital needs could be reduced by 2.3 bln
Economybillion related to the 2012 haircut of Greek bonds, or PSI. The breakdown shows Alpha’s accounting DTA... billion. Note that NBG’s total DTA consideration stands at 4.5 billion euros, which means the bank
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Alpha Bank reports H1 profits of 267.4 mln on one-off item
EconomyBankingfollowing the acquisition of Citibank’s retail operations in Greece due by the end of Q3. Eurosystem... that Alpha and the other three systemic banks have eliminated ELA funding since May. The bank’s Basel III
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