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  1. Fiscal target revision shows 3.07 bln 9-month primary surplus was 1.8 bln above target

    Economy

    below targets. These mainly involve: 1) Grants to Manpower Employment Agency (at 37.3 percent...) Consumption and non-allocated expenditure (at 39.8 percent of the annual target of 1.57 billion) 7... of the disbursement of the next two sub-tranches of 2 and 1 billion respectively may result in a further delay

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  2. Weak banks drag Greek stocks down by 6.5 pct during week

    Economy

    of milestones by December 11 to unlock the next sub-tranche of 1 billion euros. In the meantime... completed, while Piraeus also received the state aid of 2.7 billion on December 1. The Athens Stock Exchange... million. Motor Oil trades ex-interim dividend of 0.15 euros per share on December 7. Piraeus new shares

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  3. Pension reform wrangle prompts Greece to consider going own way on contributions rise
    Photo by MacroPolis

    EconomyProgramme

    ) called for pension reform savings of 0.25 percent of GDP in 2015 and another 1 percent in 2016... in contributions could reach 2 percentage points (pp), of which 1.5 pp will burden employers (1 pp for main... Commissioner Pierre Moscovici in Brussels on December 7, with the latter noting the pair had “constructive

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  4. Strong rebound of 7.7 pct in week for Greek stocks with jump in trading activity

    Economy

    of 1 billion following the approval by the Parliament of the last multi-bill on prior actions... time since December 7 and closed at 623.07 on Friday. Banks recorded double-digit gains of 15.5...) and Motor Oil (-1 percent) also underperformed. The trading activity materially improved throughout

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  5. Gov't submits reform plan that raises contributions and cuts future pensions

    EconomyProgramme

    rates. We present below the key interventions of the government’s 170-page final plan: 1... would result in a replacement rate of around 57 percent. 7) According to estimates, the new pension... for the supplementary funds increases by 1 percentage point (pp) to 4 percent for employers and by 0.5 pp

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  6. Cosco's 369 mln Piraeus Port improved bid accepted, seals latest privatisation
    Photo by Harry van Versendaal

    EconomyBanking

    in the BoD for the next five years. After the completion of the second stage, it will hold 7 percent in OLP and 1 position in the BoD. It is reminded that COSCO, one of the largest Chinese state-owned... been effective from October 1, 2009, involved the management of OLP’s Piers II and III

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  7. Loss-making Q4 and 2015 for Alpha, targets positive bottom-line in 2016
    Photo by MacroPolis

    EconomyBanking

    raising in November, the bank’s Common Equity Tier 1 (CET1) ratio reached 16.7 percent, while... targets a return on assets (RoA) ratio above 1 percent, cost to income ratio at 40 percent (from 50... anticipates that the lifting of capital controls within 2016 will trigger the return of around 7

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  8. Newsletter 68 - 01/04/2016

    Newsletters

    and indirect taxes, each yielding 1 percent of GDP. On the pension front, on top of measures already... percent. What remains under discussion are the other tax revenue measures yielding 1 percent of GDP... intends to pay state arrears of 7 billion euros to the private sector by the end of the year

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  9. General government primary cash surplus triples to 3 bln by February, arrears climb to 6.1 bln

    EconomyMacroeconomy

    of 2016 from 1 billion in the corresponding period last year, the Finance Ministry (MoF) gg bulletin... to 13.3 billion primarily attributed to a notable rise in transfers by 1 billion to 2.07 billion, while..., the Alternate Finance Minister Giorgos Houliarakis recently pledged for payment of 7 billion arrears

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  10. With review completion in sight, which way next for Greece?
    Photo by Harry van Versendaal

    Agora

    almost 7 billion. The benefits for the Greek economy of this money coming in, as well as a sense... lifting for the time being. The 1 percent of GDP in further fiscal measures (mostly rises... will have to be activated, and to achieve a much bigger corrective adjustment (say 0.5 to 1 percent

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