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Stock market slips 1.4 pct dragged by huge bank losses
Economyof the first set of milestones and the European Stability Mechanism (ESM) disbursed the sub-tranche of 2...-tranche of 1 billion. The General Index of the Athens Stock Exchange landed at 649.79 on Friday, which... until December 1 to facilitate the reverse split process, while the resulting shares will resume
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Piraeus posts 7 mln net profit in Q2, NPE stock down for seventh straight quarter
EconomyBanking, collections and liquidations (4.4 billion) and selected sales (2 billion). P&L NII remained almost... by the impact of asset deleveraging. Fees increased by almost 2 percent QoQ to 82 million, while the top-line benefitted from other income of 37 million in Q2 from -2 million in Q1, largely due
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Greece and lenders fail to bridge their differences in Brussels
PoliticsGreek Politicsdemanding a primary surplus of 1 percent for 2015 and 2 percent for 2016. On the pension front... Commission sources suggested to the media that the two sides still have differences over 2 billion euros... (roughly 1 percent of GDP) to pensions and another 1.8 billion euros per year to be raised from increases
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IMF preliminary DSA finds Greek debt unsustainable, points to need for debt relief
EconomyProgrammetargets for the next years: at 1 percent of GDP for 2015 (from 3 percent), 2 percent in 2016 (from 4.5 percent) and at 3 percent for 2016 and beyond (from 4.5 percent). 2) Lower privatization proceeds... 36 billion. These additional funding needs stem from: 1) Lower fiscal targets (additional needs
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The key numbers behind the latest Greek proposals
EconomyProgrammewill target net revenue gains of 1 percent of GDP on an annual basis, which is similar to institutions’ proposal. Since the changes are effective as of July 1, the additional revenues correspond to 900 million... permanent savings of 0.25 – 0.5 percent of GDP in 2015 and 1 percent in 2016, in line with the institutions
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Greece and creditors try to untangle pension complications
EconomyProgrammeParliament on July 15 included the following pension-related interventions: 1) Health contributions...) for supplementary pensions retrospectively as of July 1. This means that pre-tax pensions will be reduced by 2 and 6 percent respectively. According to the General Accounting Office, the rise
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EU and IMF bailout drafts confirm conditionality as well as differences on primary surplus
EconomyProgrammetarget of 3.5 percent by 2018 that would be covered by: 1) A holistic pension reform yielding savings of 1 percent of GDP and would also compensate for the Council of State decision ruling unconstitutional the pension cuts implemented in 2012 (estimated cost of 2 percent of GDP) 2) Personal income
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Tsipras sails through multi-bill vote, looks to disbursement and debt relief
PoliticsGreek Politicsall of his 153 MPs support the legislation despite it containing another 1 percent of GDP in tax... on pension and income tax measures worth 2 percent of GDP) unscathed. He undoubtedly emerges from... surplus target to 2 percent of GDP between 2017 and 2021, while in return aiming for a growth rate
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Details of technical agreement between Greece and lenders set out in draft sMoU
EconomyProgrammeevening. The 53-page document dated May 2 is broadly similar to a previous draft of April 23 that we... (2 million). Although the tax expenditures to be abolished are not detailed in the draft sMoU... (MTFS) for 2018-2021, a pension reform with net savings of 1 percent of GDP in 2019-2021
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Newsletter 125 -30/06/2017
of the Noor 1 cargo ship seized with around 2 tons of heroin on board in 2014 - had asked for protection..., Panos Kammenos over his contact with a convict connected to the Noor 1 drug smuggling case... envisaged in this five-year period. 2 Budget primary surplus up 26.5 pct Five-month primary target beats
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