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Where is Odysseus? Part 6 - Potential real GDP
Agoraon the macroeconomy of Greece.[1] In blog 16, we updated Greece’s demographic projections and found.... These calculations are reflected in Figure 1 below. The vertical line marks the current year 2022.... This baseline assumes that Greece still sees a recovery in labor productivity to 1 percent a year
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Eurogroup clears next bailout tranches for Greece, sets new goals
EconomyProgrammeamounting to 1 billion each are linked to the implementation of milestones agreed between the Greek... of 2.9 billion in 2013, Greece will allocate 1 billion to reduce the country’s debt, 1 billion... involves one-off handouts to 1 million Greeks with low incomes and a temporary boost for members
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Better contribution collection for Greek pension funds but 5.1-bln shortfall looms
Economyunpaid pensions, 1 billion from lump-sums and 450 million from unpaid supplementary pensions. POPOPK... of unemployed surging by 1 million to 1.34 million in Q1 2014 from 364 thousand in Q3 2008. b) 3 billion... actions demanded by the eurozone for the disbursement of the next two bailout sub-tranches of 1 billion
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OECD sees more growth, falling unemployment in Greece
EconomyMacroeconomyconsumer price index is anticipated to peak to -1 percent in 2014 easing to -0.6 percent in 2015... to remain in surplus over the 3-year period at 1.2 percent of GDP in 2014, 1 percent in 2015 and 1.8... (from 26.7 percent) in 2015. An additional drop of 1 pp to 24.1 percent is projected for 2016
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Newsletter 29 - 05/06/2015
lenders are demanding new fiscal measures of around 3 billion, which is markedly higher than the 1–1.5... surplus targets to 1 percent of GDP for 2015, 2 percent in 2016, 3 percent in 2017 and 3.5 percent..., for the 1 percent primary surplus target to be met, additional measures of 3 billion have to be adopted
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A breakdown of Greece’s revised financing needs as part of its new ESM programme
EconomyProgrammein the August 2015 – 2018 period. This amount incorporates: 1) Amortisation on the Eurosystem ANFA... payments Interest payments are calculated at 16.6 billion and mainly relate to: 1) Eurosystem ANFA... (1.8 billion). 5) Greek Loan Facility (GLF) loan (1 billion). 6) New European Stability Mechanism (ESM
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Greek banks' equity raising could keep official support to a minimum
Economy, and hybrid securities is activated. CoCos, which qualify as Common Equity Tier 1 (CET1) capital “pari passu... and 78 million to Tier 1 securities. Bondholders are offered the option for a share exchange at 100 percent of nominal value for senior notes, at 80 percent for Tier 2 and at 50 percent for Tier 1
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Coalition considers options for addressing pension system sustainability
EconomyProgrammepensioners currently stands at 1:1.7 compared to a target of 1:2.1 for a viable pension system. The key points of the proposed pension reform include: 1) A national pension with a growth clause equal... savings from pensions of 1 percent of GDP in 2016. Katrougalos said the aim is those savings
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Multi-bill tabled as Greece aims to take last step to completion of review
EconomyProgramme’s key provisions relate to the parametric fiscal measures yielding 1 percent of GDP... as of June 1 with estimated annual revenues of 437 million and a rise in the excise tax on cigarettes... of the public sector attrition rule from 1 hiring for 5 departures in 2016 to 1:4 in 2017 and to 1:3
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Minor uptick in time deposit and average loan interest rate in June
EconomyMacroeconomyGreek households’ new time deposit rate edged up by 1 basis point (bp) to 0.86 percent in June from... the weighted average rate on total new deposits eased by 1 bp to 0.42 percent, which represents a new record low since Greece’s euro accession in 2002. Loans Corporate loan rates for amounts less than 1 million
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