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  1. Piraeus Bank records net losses of 6 mln in Q1, further reduction in NPE stock
    Photo by MacroPolis

    EconomyBanking

    bps to more than 310 bps in 2020. It also sees the cost to income ratio falling below 45 percent (from 53 percent currently) and the loan to deposit ratio at less than 105 percent (from 116 percent..., Piraeus Bank Group was operationally (rather than legally) separated into two pillars, ‘Piraeus Bank

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  2. Newsletter 120 - 26/05/2017

    Newsletters

    as the biggest problem. The Greek figure is three times higher than the euro area average of 9... than the target. In addition, gross revenues (revenues before tax refunds) beat the target by 534... billion, 155 million lower than the target. This is fully attributed to indirect taxes, which were

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  3. Banks meet overall NPE reduction target in Q1 2017, largely on write-offs
    Photo by Panayiotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    quarter-on-quarter (QoQ) to 103.9 billion, 1.3 billion lower than the target of 105.2 billion. However... in Q1, 1.8 billion lower than the target. In contrast, residential NPEs came in at 27.7 billion, 400 million above the target, while consumer NPEs amounted to 14.3 billion, 100 million higher than

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  4. Aided by underspend, budget primary surplus reaches 1.84 bln in 5-month, 792 mln above target
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    underspend with primary expenditure coming in 791 million lower than target. The monthly primary... million higher than target. The aggregate figure for the 5-month period showed primary expenditure... said that the lower-than-expected expenditure mostly reflects weaker earmarked revenues (by 291 million

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  5. Compliance report looks at programme financing, arrears clearance and 2016 performance
    Photo by Stuart Chalmers via Flickr https://flic.kr/p/49JB98

    EconomyProgramme

    in arrears clearance, having reduced the stock by more than one third since June 2016. The pile... on 2016 revenues relate to the higher than expected dividend from the Bank of Greece as well..., lower than expected investment spending and continued expenditure restraint also supported the fiscal

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  6. Government stalls possible bond issue, clashes again with judiciary
    Photo by Panayotis Tzamaros/Fosphotos

    PoliticsGreek Politics

    Monetary Fund is holding its executive board meeting on June 20, rather than June 27 as was initially... that it achieves a lower yield than the New Democracy-led coalition in 2014, when it reached 4.95 percent... that the 2014 bond had a yield that was 1.41 times higher than Portugal’s rate. He suggested that if the same

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  7. UN steers clear of Cyprus blame game as focus moves to hydrocarbons
    Photo by Panayotis Tzamaros/Fosphotos

    PoliticsForeign Policy

    steps should be. Eide made this comment after briefing the UN Security Council for more than two hours... said there had been a collective failure in reaching an agreement rather than anything else. “We... intervention by the council that this process took Cyprus closer than ever before to a settlement

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  8. Greece completes first bond issue in three years, eyes more on way out of programme
    Photo by Panayotis Tzamaros/Fosphotos

    Economy

    each, while Piraeus GGBs amounted to less than 400 million euros. The new bond coupon of 4.375 percent stands 0.325 percentage points lower than the respective coupon of 4.75 percent of the previous... with more than 550 orders from the investment community. Although the transactions are not fully

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  9. Newsletter 129 - 28/07/2017

    Newsletters

    further transactions should be expected by August 2018. somewhat better than expected”. Tsakalotos also... in 1.16 billion below target coupled with a higher-than-targeted Public Investment Budget (PIB) balance... attributed to a better than expected performance of direct taxes. Tax revenues beat target by 451 million

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  10. Overdue social security contributions increase 827 mln to 23.3 bln at end of Q2

    EconomyMacroeconomy

    to over 800,000 at the end of Q2, a rise of more than 182,000 QoQ. The breakdown shows that nearly three quarters of debtors owe less than 15,000 euros each for an aggregate amount of 2.17 billion... percent of total) owe more than 1 million each for a total amount of 6.53 billion. Though they represent

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