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Housing costs, food prices set limits to impact of tax cuts
EconomyThe Greek government’s efforts to shift the narrative and change its political fortunes are crashing against the realities on the ground as reflected in the frequent data releases from Eurostat and ELSTAT. Months of communications build-up around the Th...
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OPEKEPE, Predator and Ankara tension set tone for post-Easter politics
PoliticsGreek PoliticsA compressed, post‑Easter political week opens in Athens with the government facing simultaneous pressure on two domestic fronts - the OPEKEPE case files and the revived surveillance affair - while also navigating a sharp rhetorical clash with Ankara an...
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Seabed surveys for GSI set to pose next test in Greek–Turkish relations
PoliticsForeign PolicyThe planned resumption of seabed surveys for the Great Sea Interconnector (GSI) is rapidly emerging as the next major test in Greek–Turkish relations, as Athens prepares to restart work on the electricity link between Greece and Cyprus while rejecting A...
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Economy holds steady in Q2 but autumn set to pose more and tougher tests
EconomyMacroeconomyThe macroeconomic releases — the latest Q2 GDP and national CPI data — were the main domestic economic events of last week, while developments outside Greece are fuelling concern about difficult months ahead for households. ELSTAT published the latest G...
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Greek current account deficit rises to 709 mln in February
EconomyMacroeconomyby 87 million, the travel balance showed a small deficit of 5 million. This is due to higher travel... the latter incorporates a rise in tourist arrivals by 10.2 percent, The year-to-date C/A deficit stood at 1... forecasts for a C/A deficit of between 1 and 2 percent of GDP. The BoG's latest estimates point
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Greece unveils MTFS seeing 4.2 bln primary surplus in 2014 but just under 2 bln fiscal gap in 2015-16
EconomyMacroeconomythe House by May 5 to coincide with the date of the next Eurogroup, where the Greek Finance Minister Yannis... the target. For 2016, the fiscal gap amounts to 1.93 billion (1 percent of GDP), with the primary... remaining broadly flat in 2015, social security contributions are anticipated to surge by 1 billion
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Budget execution shows primary surplus of 711 mln, 503 mln ahead of target
EconomyMacroeconomyrevision mainly reflects higher forecasts for revenues (by 1 billion), more than offsetting higher... period. This implies an average figure exceeding 1 billion per month. Although the April figure of 763... at just 5 million, while PIB expenditure amounted to 382 million in May. Nevertheless, the PIB
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Greeks living in smaller, older, poorer quality homes during crisis, BoG study shows
Societyin 2008. It is estimated that 1 million houses in Greece were built after 2000 but only 10 percent... by 0.2 percent in 2008-2012, apartments grew by 1 percent, while other type posted a double-digit... percent in 2008-2012 compared to an annual growth of 0.3 percent in the preceding 5 years
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Multi-bill passes but coalition's relationship with armed forces and police sours further
PoliticsForeign Policy-tranche of 1 billion euros, and 47 lawmakers opposed it. The multi-bill contained a raft of reforms... the next 1 billion euros from its lenders. Greece has 5.6 billion euros of bonds maturing this month.... Greek ministers will meet troika representatives in Paris between on September 3 to 5
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Alpha Bank reports H1 profits of 267.4 mln on one-off item
EconomyBankingCommon Equity Tier 1 (CET1) ratio improved to 16.3 percent from 15.6 percent in Q1. The quarterly... ratio at 40 percent (55 percent in Q2), cost of risk less than 1 percent (2.2 percent in Q2), loan... and selective international deleveraging of circa 5 percent of forecasted group assets by 2018.
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