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Amid Eurogroup stalemate, Athens focusses on extra liquidity available after ECB move
Economyto borrow up to 2 percent of their GDP from the fund. In Greece’s case, this translates into 4 billion... their exposure to repos by March, taking advantage of the ECB’s TLTRO III announcement. Total interbank... million. Total GGB holdings were in excess of 10 billion euros, which the ECB now accepts for its
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Banks look for way forward as economic shutdown takes its toll
EconomyBankingreported a cash buffer of 2 billion euros and Piraeus Bank reported a buffer of 2.3 billion euros. All... securitisations under the code name Cairo, with a total value of 7.5 billion euros. The applications relate to the provision of guarantee by the Greek state on senior notes to the value of 1.6 billion in total
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ND hopes economy will pick up as second stage of lockdown easing begins
PoliticsGreek Politicsin March. According to the government, this means 155,962 employees, or 22.5 pct of the total who... the first two stages of relaxing the lockdown, a total of 225,000 workers and 93,000 businesses will have... up to 2 pct of its GDP before the end of 2022, which for Greece means roughly 3.8 billion euros
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Budget primary balance dips to deficit of 1.51 bln in April on Covid-19 measures
EconomyMacroeconomycame to a deficit of 2 billion euros compared to a monthly deficit of 3376 million noted in March.... State budget total revenues stood at 15.44 billion euros, lower than the target by 1.24 billion or 7.4... months of the year, total expenditure came to 18.17 billion, overshooting the target by 1.06 billion
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Eurobank submits final Cairo portfolio to Hercules while BoG mulls bad bank creation
EconomyBankingthe country. A total of roughly 71 billion euros worth of bad loans sit on the balance sheets... anticipates around the second half of 2020, in order to take the necessary decisions. Piraeus has a total of 7.... This is split between two portfolios, Vega valued at 5 billion, and Phoenix valued at 2 billion
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Govt lays out recovery plan to October, launches tourism roadmap
PoliticsGreek Politics-payment refunds to businesses worth a total 2 billion euros, tax breaks for landlords. Liquidity... is costed at a total of 24 billion euros, combining fiscal measures and guarantees, of which 7 billion
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Opposition picks holes in latest measures to mitigate economic impact from pandemic
PoliticsGreek PoliticsDemocracy’s claim that the total package of measures it will implement to mitigate the economic impact... totalling 8 bln euros, which means this amount cannot be included in the total. He added that another 3.2 bln euros are guarantees and suspension of payments, while 2 bln euros will come from
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Exceptional conditions behind reduced unemployment rate of 14.4 pct in March
EconomyMacroeconomyto February. Year-on-year, the figure for those employed decreased by 12,923 (-0.3 percent). Total... month, and increased by 173,254 persons when compared with March 2019 (+5.4 percent). The total... years, with a drop of 2 pps. The unemployment rate for this group came to 14.1 percent. Regionally
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Travel balance falls by 85.1 pct in July
EconomyMacroeconomyof 7.3 percent to 2 billion euros. For euro-denominated countries, receipts showed a drop of 77.4.... In total, arrivals from the EU 27 countries fell by 80.4 percent YoY to 661,300. Those from euro.... In total, arrivals showed a drop of 80.1 percent in the first seven months of the year and came to 3
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Budget primary confirmed at deficit of 5.48 bln in August
EconomyMacroeconomyto reduced economic activities in light of the pandemic. State budget total revenues stood at 33.38... by 2 billion euros during the first eight months of the year. Personal income tax (PIT) was below... of the year, total expenditure came to 39.73 billion, surpassing the target by 4.39 billion. The MoF said
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