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How Greek banks could cut 2014 financing gap with a bond rollover
Economygovernment bonds (GGBs) that mature in 2014 with a total nominal value of circa 15 billion... the mandatory conversion after 5 years by an increase in the fixed return by a 2 percent step-up after... and recognised in EBA core Tier I, Tier I and total adequacy capital, while being excluded from core Tier I
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Does new troika visit spell fresh drama for Greece? Maybe not
Economyeuros were used for last year's debt buyback without increasing the total "financial envelope... year. At the same time, the IMF is scheduled to receive a total 9.1 billion euros in repayments... notion of a fiscal gap. He suggested 2 billion euros of added measures would be required to achieve
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Bank of Greece publishes bank stress test results, which see capital needs at 6.4 bln
EconomyMacroeconomyat 5.815 billion euros. The total amount for the domestic banking system, including also Attica... period and uses: The credit loss projections (CLPs) on total loans granted in Greece and abroad... positive to 0.8 percent in 2015 and 2 percent in 2016 Decline of unemployment rate to 26 percent in 2014
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Social support in Greece not adequate enough to deal with crisis, says OECD
Societythe attention of Greece and its lenders: 1) The major decline in household income Total household income... not reversed the 5-year-long decline in employment levels.” 2) The rise in unemployment At 49 percent... households. Since 2007/8, total spending on social protection and health fell by some 18 percent
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Historic victory for SYRIZA in EU vote unlikely to dislodge Greek coalition
PoliticsGreek Politicssaw its support decline by a combined total of almost 11 percentage points. Nevertheless, the fact... of the vote was close to or above the combined total of the coalition’s backing. Elia survives... last year. The Neo-Nazi party’s support reached more than 9 percent, which was an increase of 2
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Greece's new finance minister lines up for a marathon (and several short sprints)
PoliticsGreek Politicsyears. This could result in total savings of 25 billion (14 percent of GDP) over the 50-year period... plan for creating a total of 770,000 jobs by 2020. Three quarters of those jobs are projected..., the official sector projects Greek unemployment will ease by at least 1 pp this year and a further 2 pp
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IMF report sees a number of risks lying ahead for Greece
EconomyProgrammeto 2 and 2.5 billion is foreseen in 2014 and 2015 respectively. Further policies should be tailored... and tourism, which account for 2/3 of total exports, have significantly lagged other countries... and restructured loans at 40 percent of total loans by the end of 2013. The coverage ratio (cash
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Alpha Bank acquires Citigroup's retail banking unit in Greece
EconomyBankingat 2 million euros, is capital neutral for Alpha and is expected to contribute positively to Alpha pre... that 60-61 million, of the total outstanding 1.2 billion, warrants have been exercised. If confirmed.... The 450 million shares account for 3.5 percent of total Alpha shares. This means HFSF’s share
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Greece sees travel receipts shoot up by 35.8 pct in April
EconomyMacroeconomyof 13.2 percent. Their share of total receipts eased to 4.8 percent from 5.4 percent last year... there is a risk that some of the scheduled visits from Russia and Ukraine, which account for 15 and 2 percent of total, may not take place. The growth of arrivals from Russia showed a significant slowdown
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Greece ponders how to deal with rising unpaid private debt, which hit 88 pct of GDP
Economyis increasing by around 2 billion euros each month so far in 2014. Unpaid SSC of 16 billion euros... for the total outstanding unpaid private debt by the middle of August. Citing government sources, local media.... In addition, press reports indicate that the implementation of upcoming decisions on total private
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