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Greece and lenders trap themselves over labour reforms
Agorameasures that the lenders are demanding: A 1 percent of GDP reduction in the tax-free threshold for personal incomes and another 1 percent of GDP cut in pension spending. Also, it might... 7. However, at least a path to a compromise is visible as far as the fiscal issue is concerned
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Athens, lenders trying to put last pieces in place for technical agreement
EconomyProgramme(for a single person) close to 5,900 euros with additional revenues targeted at 1 percent of GDP... additional savings of 1 percent of GDP from the elimination of the so-called personal difference... that even under this scenario, securing a staff-level agreement (SLA) for the April 7 Eurogroup might
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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... and NPE reduction targets are seen at 7 and 1.5 billion respectively by the end of 2019. Taking also.... 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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Newsletter 115 - 21/04/2017
to 2.7 percent, while its medium-term estimate stands at 1 percent for 2022, lower than its previous... in March, while the Q1 figure plummeted by more than 1 billion to 292 million, from 1.3 billion last year... growth was recorded in capital goods (+16.4 percent) and consumer durables (+7 percent
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Budget primary surplus of 1.1 billion slightly outperforms target by 77 million in Q1
EconomyMacroeconomyof 1.07 billion in March following a surplus of more than 1 billion recorded in each of the previous two... higher than target. It is pointed out that primary expenditure notably rose by more than 1 billion from... expenditure at 140 million corresponding to 7 percent of the full year target of 1.99 billion. MoF said
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Deposit interest rates largely unchanged in April, average loan rate increases
EconomyMacroeconomyto 4.67 percent, reflecting a notable increase in the rate for loan amounts of over 1 million euros by 64... between 250,000 and 1 million decreased by 42 bps to 4.4 percent. Following the movement in April... (mostly credit cards) edged down by 2 bps to 14.52 percent. Moreover, the housing loan rate fell by 7
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Greeks deeply pessimistic about future but confidence in euro persists
Societyof those with a negative view improved by 5 percentage points, while the Greek results worsened by 1... thought that the economic situation in Greece would worsen in the next year, an increase of 1...), government debt (26 percent) and taxation (16 percent versus an EU average of 7 percent). Mistrust
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Capital controls to ease further from the beginning of September
EconomyMacroeconomySeptember 1 as part of government moves to further relax the capital controls in place since 2015..., or 1,680 across a total of 28 days. Additionally, from September 1, it will be possible to withdraw up... ceiling for Greek banks by a further 1.6 billion to 38.9 billion until September 7. However, a BoG
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NBG reports net losses in Q2, NPEs down for fifth straight quarter
EconomyBanking) and to a lesser extent in consumer loans (-7 million), while positive formation was recorded... the domestic core banks. Capital The Common Equity Tier 1 (CET1) ratio stood at 16.5 percent in Q2, while... and liquidity by around 80 bps and 1 billion respectively. The positive impact on capital stems
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EC upbeat on reforms paying off, as long as they continue
EconomyProgramme-free threshold closer to the European average. The package intends to deliver 1 percent of GDP savings... to up to 750,000 people, 7 percent of the Greek population. It costs 750 million euros annually... to the recapitalisation in late 2015, banks are now capitalised with an average Core Equity Tier 1 ratio of 17 percent
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