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Newsletter 62 - 12/02/2016
, which would be reduced by 1 percentage point for incremental income of 1,000 euros. Thus, the discount... for Greece saving 1.8 billion euros (equivalent to 1 percent of GDP) this year in order to meet its... less than 12 percent since the beginning of the crisis due to the Greek economy contracting by around
7% -
Eurobank reports loss in Q4 and for 2015, management expects bank to turn profitable in 2016
EconomyBankingSingle Resolution Fund of 30 million and 12 million one-off contribution to the resolution... for cost of risk south of 2 percent in 2016 and below 1 percent in 2017-18. The overall stock... the capital raising in November, the bank’s phased-in Common Equity Tier 1 (CET1) ratio increased to 17
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A breakdown of the 5.4 bln in measures that form basis of agreement between Greece and creditors
EconomyProgrammeand indirect tax measures, with estimated revenues or cost savings of 1 percent of GDP (1.8 billion... from 2.2 percent for incomes between 12 – 20,000 euros up to 10 percent for incomes above 220,000... retirement pay amount exceeds 1,300 euros, rise in contributions for supplementary pensions by 1
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Government hopes offer of tax breaks and grants will spark growth boost
EconomyMacroeconomyof investments, the law foresees a stable tax rate for 12 years or a tax exemption up to 10 percent... study revealed that an investment of 1 euro in one quarter results in a cumulative increase of GDP... 1 billion. The two scenarios assume state subsidies of 3.5 billion. Market sources note that around
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Piraeus Bank posts minor losses in Q4, almost breaking even for 2016
EconomyBanking, the NPL stock declined further by more than 1 billion QoQ to 24.38 billion in Q4 from 25.35... has been reduced by 1.5 billion euros over the last 12 months, while the respective decline.... The Common Equity Tier 1 (Tier1) ratio fell to 17 percent in Q4 from 17.6 percent in the previous quarter
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Greece sees highest tax wedge increase among OECD countries in 2016
EconomyThe tax wedge in Greece remained above the OECD average in 2016, when it increased by more than 1... married couple with two children, where the Greek figure stood at 38.3 percent in 2016. This was almost 12... by 1.1 pp until 2016, while the respective OECD average has dropped by 1 pp over this period
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Stocks up by 4.7 pct, rising for third straight week
EconomyDevelopment (-1 percent). The trading volumes remained at high levels for the second week in a row..., with inflows of 12 million euros following outflows of 37 million in the previous month. Overall... date is on May 17. Mytilineos and METKA said they will hold their AGMs on June 1 to approve
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Central government debt edges up to 326.5 billion in Q1
EconomyMacroeconomyamount of the IMF loans to Greece stood at almost 12 billion at the end of March. Overall, FSM loans..., while short-term (up to 1 year) and medium-term (1 to 5 years) debt accounted for 11.9 and 8.9
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ESM approves next bailout tranche, providing Athens with some relief
PoliticsGreek Politicsthat the second payment would "be made after 1 September 2017 subject to Greece making significant... Panos Kammenos’s intervention in the Noor 1 drug smuggling case and comments made by Finance Ministry... to be held immediately or within the next 12 months. The lack of optimism among Greeks was also
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Unemployment falls to 21.2 pct in June, lowest since Dec 2011
EconomyMacroeconomyto May, to total 1 million in June. The labour force rose slightly to 4.8 million in June, representing the highest reading for the year so far. Over the last 12 months, the jobless rate has been... at 961,000, going below the 1 million mark for the first time since October 2011. Those employed rose
7%