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Greece closes 2013 with 691 mln budget primary surplus despite late investment spend
EconomyMacroeconomyand 2015. The latter is estimated by the troika at 1-1.5 billion for this year and at 2-3 billion for the next year. Media reports indicate that the troika will not return to Athens until it is clear... revenues stem from a delay of EU revenue flows, which are estimated to be realised in the first months
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OECD sees 3.3 bln euros of savings Greece can make by cutting red tape
EconomyMacroeconomyregister (190.2 million) Establish a clear VAT registration threshold at 10,000 euros (114.1 million... estimated in 2006 that total administrative costs amounted to 6.8 percent of GDP and that a reduction... proportion (18 percent) stems from company law and annual accounts with estimated administrative burdens
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ECB stress tests and what they will mean for Greek banks
Economyundergoing measures. It is not yet clear which of the two capital shortfalls (under the static... whether the ECB and EBA will incorporate the full capital benefit (estimated to be close to 2 billion... of the untapped HFSF capital (estimated to be above 10 billion) to the ESM so that it can form the basis
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Proposed VAT overhaul a stepping stone towards agreement with lenders?
EconomyProgrammewill not apply, according to reports. It is not clear when the new rates would come into effect. Previously... level of 23 percent to 15-18 percent. Multiple benefits? Varoufakis did not indicate the estimated... to tackle VAT evasion, which is estimated at around 9.5 billion euros a year. This is an extremely high
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Referendum and the ECB to determine the future of Greek banks
Economyand in the absence of the 10.9 billion of HFSF capital buffer, it is not clear how banks could... will continue operating with the ELA liquidity of last Friday which is estimated close to 90 billion... then, it is estimated that the ELA liquidity buffer has been reduced to around 25 billion. Assuming
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What this week's VAT changes mean for household budgets and public coffers
EconomyProgrammein their services’ price, it is not yet clear whether a part of it would be absorbed by the firms... prices. The study shows that the estimated total burden on the average household from the VAT... Accounting Office (GAO) report that accompanied this week’s bill, budget revenues are estimated
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Tsipras raises debt relief at UN but refugee crisis may prove more pressing issue
PoliticsForeign Policyargued that his government now has a clear mandate to carry out reforms that will make the country more... by sea. Earlier this month, the International Organisation for Migration (IOM) estimated.... The influx of refugees from Syria, who are estimated to make up around two thirds of this year’s arrivals
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Newsletter 49 - 30/10/2015
containing the prior actions next week. However, it is not clear whether parliamentary approval would... into an estimated recession of at least 1.3 percent of GDP for the year. Tsipras’s own failings have... to beat to the punch start hitting home. It is estimated that the changes to VAT rates, which were
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Some progress made as Greek programme review heads for break
EconomyProgrammeto result in broadly the same tax per property as in 2015. Furthermore, it is not clear at the moment... scale are estimated at around 1 billion euros, while an increase in the solidarity levy rates is also... and natural gas, a tax of 0.1 percent on bank transactions with estimated revenues of 500 million
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Greece forced to revisit prickly subject of pension spending to conclude review
EconomyProgrammeproposal is clearly on the table and is due to be legislated soon, it is not clear at the moment... included the phasing out of the solidarity grant (EKAS) with estimated savings of 0.4 percent of GDP..., with estimated savings of 0.75 percent of GDP. This would mean the majority of the personal difference being
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