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The IMF crisis and how to solve it
Agora-boggling 22% in just 18 months (yes, over 1 percent a month). Greece has endured the largest... and policy decisions. There are numerous other examples of inadequate explanations, including: (1...; (2) implicitly supporting the view that the Greek debt buyback would make debt sustainable when
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Finance Ministry scrambles to correct property tax after error-strewn debut
EconomyMacroeconomyraised annual revenues of around 2 billion euros. The nominal revenues from ENFIA were estimated at 3.2... on August 1. The first warning sign that something was not quite right came on August 1, when MoF... percent of the total 6.15 million) paying more than 500 euros. Taking into account that each household
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ECB stress tests and what they will mean for Greek banks
Economynewspaper indicated on Saturday that Greek banks total capital shortfall may end up well below 1 billion... provisions. A capital benchmark of Common Equity Tier 1 (CET1) of 8 percent was set for this pillar... whether the ECB and EBA will incorporate the full capital benefit (estimated to be close to 2 billion
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Greece's extension proposals to the Eurogroup and what they mean
PoliticsGreek Politicsthere are seven reasons for the 6-month extension: 1) “To agree the mutually acceptable financial... impact of the crisis at a cost of 1.86 billion euros. But this is not explicitly stated 2... billion of state-guaranteed collaterals would be, in any case, non-ECB eligible as of March 1
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A breakdown of the fiscal and structural reforms Greece hopes will unlock funding
EconomyProgrammefor pensioners who receive the Social Solidarity Allowance (EKAS) (cost of 82 million) with a total negative fiscal impact of around 1 billion. Privatisations We believe the Finance Ministry has revised... to submit eight bills introducing structural reforms in the following areas: 1) Strengthening the autonomy
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Greek banks’ loan quality is deteriorating
Economyquality accelerated markedly in the first quarter of this year. Local media claimed that around 2... euro2day.gr reported that an additional 1 billion euros in NPLs was created in March. If confirmed, this 3 billion increase in NPL stock is equivalent to the total in NPLs that were added throughout the whole
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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... Retirement fund (NAT) will remain autonomous for their non-pension activities. 2) Unified methodology... earnings of each employee for the total number of working years after applying a progressive
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Cosco's 369 mln Piraeus Port improved bid accepted, seals latest privatisation
EconomyBankingby 25.7 percent to 22 euros today. HRADF also said the total value of the agreement would reach 1.5... 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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BoG outlines steps to economic recovery, updates on banks' asset quality
EconomyMacroeconomy, Greek banks’ Common Equity Tier 1 (CET1) and total capital adequacy ratios reached 18 percent... involve: 1) Further strengthening of the banking system by addressing the huge stock of non.... Overall, banks would be required to substantially reduce their NPL stock within the next two years. 2
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Newsletter 67 - 18/03/2016
would yield at least 1 percent of GDP, as was foreseen in the third memorandum of understanding... for the targeted pension cost savings of 1 percent of GDP to be achieved. The lenders are also insisting.... In addition, the percentage of long-term unemployed as part of the total number of jobless people
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