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Govt takes up fiscal requests with EU as pressure over min wage, main homes mounts
Politicslonger-term requests: One is for the creating of a so-called smoothing mechanism to allow any excess surplus from one year to be transferred to the next, along with the longstanding demand..., the institutions also have their mind on other matters, including the primary residence protection
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Wage ruling gives gov't immediate fiscal headache, political one may come later
PoliticsGreek Politicsand even then it can only be put towards one-off measures, not those of a permanent fiscal nature
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Only one in 10 jobless Greeks receiving unemployment benefits
SocietyOnly one in ten of the registered unemployed in Greece are in receipt of any kind of unemployment assistance, according to new figures released by the state jobs agency OAED. According to data for the month of March, a total of 1,057,350 were registered as jobless, which represented a slight
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S&P lowers Greek long-term rating by one notch to CCC-
EconomyS&P lowered on Monday Greece’s long-term rating by one notch to ‘CCC-‘ from ‘CCC’ with negative outlook. Greece’s rating by S&P is now the lowest among the rating agencies with Fitch’s rating at ‘CCC’ and Moody’s at ‘Caa2’, which is equivalent to ‘CCC’. Based on the S&P sovereign calendar, the next
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Moody's downgrades Greece's rating by one notch to Caa3
EconomyFollowing S&P and Fitch, Moody’s downgraded on Wednesday Greece’s government bond rating by one notch to Caa3 from Caa2, while rating is on review for further downgrade. The key driver that triggered the downgrade lies with the fall in the probability of support to Greece since the previous
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Pension reform to be one of new government's toughest challenges in next weeks
EconomyProgrammeReform of the Greek pension system will be one of the thorniest issues in the third bailout programme that the new government will have to tackle. It is a key milestone in the coming months. Top eurozone officials recently stated that pension reforms are also key for unlocking the next tranche of 3
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S&P upgrades Greece’s rating by one notch, sees compromise on pension reform by March
EconomyIn an unexpected move, S&P upgraded Greece’s rating by one notch to ‘B-‘ from ‘CCC+’ on reform progress with a stable outlook. The last time Greece was ‘B’ rated was also by S&P almost 12 months ago. The rating agency assesses that Greece broadly complies with the conditionality of the third
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NBG records loss of 2.05 bln in Q4 on one-offs and jump in credit risk provisions
EconomyBankingmillion and goodwill write-off of 432 million) 2) One-offs of 138 million, with the bulk stemming from
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PMI drops for third straight month to hit one-year low of 48.3 in Nov
EconomyMacroeconomyduring November as the headline PMI slumped to its lowest level in one year.” “Weaker demand
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Greece moves step closer to investment grade as Fitch ups rating by one notch to 'BB+'
EconomyFitch became on Friday the latest rating agency to place Greece one step away from investment grade, after upgrading its sovereign credit rating to ‘BB+’ from ‘BB’. The outlook is stable. Most analysts expect the investment grade, which the government has set as a so-called “national goal” for 2023
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