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Mitsotakis makes new bid to break deadlock with farmers as govt ponders relief measures
PoliticsGreek PoliticsPrime Minister Kyriakos Mitsotakis’s meeting this Monday with protesting farmers is being framed as a decisive moment in a standoff that has stretched for nearly 50 days. Scheduled for 1 p.m.... partial sessions. In his weekly social media post on Sunday, Mitsotakis sought to set the tone. He
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Greece - Some structural macroeconomic arithmetic
Agoragrowth. Consider Table 1 below, which presents recent growth outlooks for Greece by the Ministry... suggests that trend output growth sits around 1¼ percent a year. The OECD seems to be below 2 percent... are average workers in the economy becoming more efficient to make up for fewer in number.[1
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China's footprint in Southeast Europe: Constructing the "Balkan Silk Road"
Agoraexists the “16+1” initiative. The 16+1 framework seeks to improve trade and economic relations between... and Slovenia. The 16+1 club includes current and non-EU members, NATO members and EU candidate countries... of countries are absent. For one, it should be noted that Greece is not a member in the 16+1 arrangement
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The key points from lenders' proposals to Greece
EconomyProgrammeprimary surplus targets of 1 percent of GDP for 2015, 2 percent for 2016, 3 percent for 2017 and 3.5... that the VAT reform targets a revenue increase by 1 percent of GDP or 1.8 billion on an annual basis... to be effective as of July 1, compared to October 1 for the Greek government proposal. Other fiscal
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The Court of Audit's opinion on new pension cuts and its implications
Legalin combination with article 98(1)(d) of the Greek Constitution, according to which: “The Court of Audit... percent reduction of pensions to the extent that, pursuant to article 1 of the First Additional... the compatibility of the cut in question with the articles 2 (1), 5 (1) and 25 (1) of the Greek Constitution which
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How big is the gap separating Greece and the institutions?
EconomyProgrammefor 2016 (2.87 percent of GDP) that would result in a primary surplus of 1 percent of GDP for 2015... on revenues of 1 percent of GDP on an annual basis compared to the 0.74 percent proposed by the Greek... to this year since the new VAT rates will be effective from July 1. Apart from the total estimated
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This is what's in the legislation Greece has to approve by Wednesday night
EconomyProgrammepercent discount on VAT rates applied to islands will start from October 1 for islands with higher... 1, 2016. Tax measures The tax rate on insurance fees increases to 25 percent (from 20 percent... for higher income it increases. In specific, for annual income: 1) Between 12,000 and 20,000 euros
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Omnibus bill goes to Parliament as Greece seeks to unlock 2 bln sub-tranche
EconomyProgramme. The key measures included in the draft legislation are as follows: Pension 1) The statutory retirement age limits gradually increase as of August 19 until January 1, 2022. 2) The minimum pension amount will not be granted to those retiring after July 1, 2015, who have not reached the age of 67
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Q2 GDP rebounds 0.2 pct QoQ but shrinks 0.9 pct YoY amid consumption drop and investment rise
EconomyMacroeconomyof 0.9 percent year on year (YoY) in Q2 from a revised decrease of 1 percent in Q1. Today’s figure... a decline by 1 percent in Q1. The key positive contributor to the GDP evolution in Q2 is investments, which grew by 1 percent QoQ and by 7 percent YoY. In contrast, private consumption fell by 0.2 percent
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Greek 2013 primary surplus confirmed at 1.5 bln euros
Economydebt, 1 billion to reduce state arrears and 500 million would be given as a “social dividend... the reduction of social security contributions by 3.9 percentage points (2.9 for employers and 1 for employees), which will be effective from July 1. The MoF insisted on Wednesday that it could still meet
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