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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
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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
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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
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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
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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
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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
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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
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Signifcant underspend covers revenue shortfall for budget primary surplus to August
EconomyMacroeconomythat a large part of the revenue underperformance is attributed to: 1) SMP and ANFA income of 1.72 billion that have not been collected yet. 2) Non assessment (and consequently non payment) of the first... in early October. Expenditure Primary expenditure slipped by 2 percent in August, which indicates
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Greece passes latest omnibus bill, looks to next actions ahead
EconomyProgramme-tranche of 2 billion euros was voted through the Greek Parliament on Thursday evening. The bill... to disburse the 2 billion euros on Monday. As we indicated on Thursday, a series of pending issues... actions for the disbursement for the second sub-tranche of 1 billion, euros has not been defined yet
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NBG records loss of 2.05 bln in Q4 on one-offs and jump in credit risk provisions
EconomyBankingreflects: 1) Negative impact of 1.16 billion euros from Finansbank (mostly additional impairment of 612 million and goodwill write-off of 432 million) 2) One-offs of 138 million, with the bulk stemming from.... Net interest income (NII) edged up 1 percent QoQ to 474 million euros, largely due to lower
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