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Fiscal target revision shows 3.07 bln 9-month primary surplus was 1.8 bln above target
Economybelow 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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Weak banks drag Greek stocks down by 6.5 pct during week
Economyof 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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Pension reform wrangle prompts Greece to consider going own way on contributions rise
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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Strong rebound of 7.7 pct in week for Greek stocks with jump in trading activity
Economyof 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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Gov't submits reform plan that raises contributions and cuts future pensions
EconomyProgrammerates. 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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Cosco's 369 mln Piraeus Port improved bid accepted, seals latest privatisation
EconomyBankingin 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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Loss-making Q4 and 2015 for Alpha, targets positive bottom-line in 2016
EconomyBankingraising 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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Newsletter 68 - 01/04/2016
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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General government primary cash surplus triples to 3 bln by February, arrears climb to 6.1 bln
EconomyMacroeconomyof 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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With review completion in sight, which way next for Greece?
Agoraalmost 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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