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Newsletter 56 - 18/12/2015
prospects. The agreement reached between the government and institutions on December 10 indicates..., which could be an indicator of ADMIE’s potential market value. In a statement issued on December 14, PPC.... PPC shares fell 7.6 percent on December 11 (the first session following the agreement) and by 3.5
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PMI above 50 points in Dec for first time in 16 months but underlying problems remain
EconomyMacroeconomy, and reached 50.2 in December from 48.1 in November, Markit’s survey showed on Monday. The December... years. Post-production inventories fell at a faster pace in December primarily due to capital... showed higher price inflation in December, while companies lowered tariffs mainly due to competitive
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Wide range of exacting issues lie ahead for Greece in first bailout review
EconomyProgramme. The 2016 budget voted on December 5 envisages a primary surplus of 0.53 percent of GDP for 2016...-performing loans (NPLs) The last multi-bill voted in mid-December allowed the creation of a secondary market... on the privatisation of the electricity transmission company (ADMIE) in December was the only
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Negative deposit flow of 1.12 bln in Jan
EconomyMacroeconomyAfter a short-lived positive flow of 2.65 billion euros in December, the Greek banking system... point to inflows of 1.47 billion in Greek banks, mostly due to the December positive flow. Since December 2014, when the country entered into a period of political and economic turmoil, total outflows
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Retail sales slip 0.1 pct in Dec, drop of 2.8 pct in 2015
EconomyMacroeconomyThe turnover of Greece’s retail trade index eased 0.1 percent in December after a revised drop... year, retail sales fell 2.8 percent. The December headline figure indicates the lowest negative... (of +2.4 percent in May) in the course of 2015. Retail volume rebounded 0.4 percent in December
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Eurosystem funding down by 1.4 bln in Jan due to lower reliance on ECB funding
EconomyMacroeconomy, in January, when it declined by 1.42 billion following a drop of 5.89 billion in December, the Bank... bank funding slipped to 106.09 billion euros in January from 107.51 billion in December... billion euros in December when the two banks (NBG and Piraeus) that received state aid in the form
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Eurogroup sees possibility of swift review but differences on debt relief remain
EconomyProgrammeof eurozone finance ministers on December 5. The Eurogroup briefly took stock of the state of play... as possible and that more time will be spent on Greece in the next Eurogroup meeting on December 5. He... agreement on Greece’s programme in December. He also revealed that he will visit Athens at the end
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Fiscal dispute dominates as Greece and lenders gear up for more talks
EconomyProgrammeon December 8 that the fiscal gap for 2017 has almost been eliminated, as was also confirmed by the December... on December 6, Alternate Finance Minister Giorgos Houliarakis stated that the European institutions see.... Debt relief Meanwhile, speaking in Parliament on December 9 during the discussion of the 2017
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PMI rises to 49.3 in Dec but likelihood of growth remains slim
EconomyMacroeconomymonths, the Markit survey revealed on Monday. The PMI stood at 49.3 in December, which indicates... in post-production inventories. New orders dropped further in December, largely on the back.... Greek manufacturers reported a drop in their backlogs in December. This has been the case since July
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Primary cash surplus of 1.95 bln in 2016 including arrears’ repayment of 3.85 bln
EconomyMacroeconomymillion relate to payments in December. The monthly balance revealed a deficit of 1.62 billion from 990 million in December 2015. Moreover, the central government cash deficit stood at 3.57 billion... billion in December, which is by far the highest reading in the course of 2016. Overall, revenues rose
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