Search
-
Growing hopes that Greek recession will be milder than expected
Economypresented this week its updated forecasts calling for a GDP contraction of 1 percent this year from 2... this year, which is much softer than its previous forecast for a recession of 2 percent for 2015. Note, though, that the bank expects a bigger decline in 2016, when it believes GDP will fall by 2 to 3
18% -
BoG proposes debt relief measures and lower primary surplus target from 2018
EconomyMacroeconomy: 1) GDP growth in line with the adjustment programme until 2022 and 1.5 percent thereafter 2) Inflation close to 2 percent until 2019 3) EFSF and ESM loan rates of 2.6 percent in 2020 and 3.5 percent... of debt relief measures that would allow Greece’s primary surplus target to be lowered to 2 percent
18% -
General govt primary cash surplus at 1.68 bln in April, arrears rise by 164 mln
EconomyMacroeconomy, representing under 1 percent of the total. Guarantees The stock of gg guarantees fell by 116 million..., bringing the total figure to 221 million euros. The equivalent figure for the same time last year was 864 million. A decline was also noted in local governments, where the total fell by 65 million euros
18% -
Overdue social security contributions rise to 35.54 bln in Q3, new debtors rise
EconomyMacroeconomythe four main Greek pension funds based on several theoretical collectability criteria. Total overdue... for an aggregate amount of 3.97 billion euros (11.2 percent of the total). Overall, 1.5 million... of the total). The number of debtors in this bracket rose by 7,821 to 175,063. Around 13.1 percent
18% -
Newsletter 215 -19/07/2019
to announce 2 billion euros of spending cuts and savings to counterbalance the 6 billion euros in tax... of 7 billion euros, with the total this year reaching 7.5 billion. Greece’s debt managers note... (IoIs) exceeding 10.5 billion euros, before the book officially opening with a guidance of 2 percent
18% -
Fitch keeps Greek rating at 'B' but downgrades outlook to negative
Economyhas moderated its stance since 2012 advocating: 1) Greece to remain in the eurozone 2) Commitment... that could result in a downgrade include: 1) Prolonged political deadlock and lack of agreement with the troika, a development that would create serious strains in the state’s cash flow. 2) A worsening
18% -
Greece's fiscal, debt and funding goals as set out at Eurogroup
EconomyProgrammeinto account the following factors: 1) EFSF loans of 142 billion euros (75 percent of GDP) bear an interest of around 2.5 percent, have a maturity of 39 years and amortize from 2023 until 2054. 2... execution showed a revenue shortfall of 2 billion euros as of January and Varoufakis suggested
18% -
Greek deposit rate almost stable, loan rate slightly up in May
EconomyMacroeconomyover 1 million to 4.68 percent, which is the lowest reading since October 2010. 2) A rise by 47 bps... month by 1 basis point (bp) to 1.81 percent in May from 1.82 percent in April, according... in the time deposit rate led the weighted average rate on new deposits down by 2 bps to 1.10 percent
18% -
Newsletter 36 - 24/07/2015
that the recapitalisation of Greek banks will be concluded well ahead of 1 January 2016, when the bail-in tool... – either individually or in combination. These tools involve: 1) splitting bank operations that can be sold without the consent of shareholders, 2) transferring business to a bridge bank, 3) separating
18% -
Early rounds of talks with lenders focus on possible prior actions
EconomyProgramme. These measures involve: 1) Changes in the laws for hirings in the public sector, settlement of tax arrears... imposed in 2012 were unconstitutional. 2) Changes in early retirement with the retirement ages to 62..., in the middle of the EC's recent estimate of 2 - 4 percent. In addition, despite the VAT reshuffling
18%