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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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Negotiations between Greece and lenders: state of play ahead of Eurogroup meeting
EconomyProgrammeto be the contingency measures worth 2 percent of GDP the IMF is insisting they have to be detailed... reforms each yielding 1 percent of GDP. The key pending issue relates to the tax-free threshold... 70 million that has to be covered of the total targeted cost savings of 1.8 billion. The draft bill
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Budget primary surplus of 2.28 bln in first five months of 2016, tax revenues beat target in May
EconomyMacroeconomybetter than target. According to the breakdown, salaries and pensions fell 1 percent in May and 2.6... are proportionally in line with the annual target, while the recorded underspend is mainly attributed to: 1... billion) 2) Social protection (at 259 million corresponding to just 17.9 percent of the annual target
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HFSF posts losses of 1.1 bln in H1 weighed down by valuation losses of bank holdings
EconomyBankingbillion, of which 1 billion relates to HFSF participation in the four systemic Greek banks. In specific, the market value of HFSF bank holdings fell by more than 1 billion in the course of the first... and Piraeus in late November 2015, which corresponded to one quarter of the total state aid of 5.43
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Industrial production rises at slightly faster pace of 2.2 pct in Dec
EconomyMacroeconomyrevised growth of 2 percent in November, Hellenic Statistical Authority (ELSTAT) data showed... of the total index. In addition, mining and quarrying production edged up 0.6 percent. On the flipside... supply production also declined by 1 percent. Only two of the five main industrial groupings posted
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With tax-free threshold set for change, income declarations underline need for rethink
EconomyProgramme-free threshold with the aim of securing additional revenues of 1 percent of GDP (1.8 billion euros...-employed have an annual income that exceeded the 9,000-euros mark in 2015. The breakdown for the total..., the personal income tax rate to 15-20 percent and the top VAT rate of 24 percent by 1 pp
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