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S&P: Greek covered and securitised bonds rated investment grade for first time since 2011
EconomyBankingcredit rating of ‘B+’. This latest rating change comes soon after S&P upgraded the credit ratings...+’ and 'C'. In late June, the credit agency announced that it was upgrading Greece’s long-term credit... year for Greece in terms of credit ratings upgrades. In January, S&P raised Greece’s long-term
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Parties' competing tax pledges come up against challenging reality
EconomyFeaturesdebated by the main parties: The tax-free threshold: This is effected through a personal tax credit... of the Supplementary MoU, the personal tax credit is due to be cut in 2020. However, both SYRIZA and New... tax credit by 650 euros in 2020, which effectively lowers the personal tax-free threshold by about
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Despite strong annual growth, flow of loans to enterprises in Aug at lowest since Jan
EconomyMacroeconomyCredit movement in the Greek private sector gathered more pace in August, rising by 5.8 percent... (BoG) figures released on Tuesday showed. The growth in credit expansion had remained broadly stable... the highest credit growth since before the great deleveraging in the Greek banking sector because
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Greece's labour market is austerity's biggest casualty
Agorainvestment budget, falling property prices, tight credit conditions and a heavily taxed property ownership... their “low rate” credit cards and loans. With domestic disposable incomes reduced on average by 25..., it was 664,600. Aside from the favourable conditions in domestic demand and credit, in 2007 and 2008
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Cost of Greek corporate loans rises in April, remains well above euro average
EconomyMacroeconomy. The housing loan rate is the only one that is in line with the euro-area average. In consumer credit without.... The average consumer credit rate in the euro-area stood at 8.12 percent, stemming from a combination of 7.60 percent on revolving loans and overdrafts and 17.24 percent on credit cards. BoG does
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DTA may spell new trouble for Greek banks
Agora(DTA) that were legislatively converted to deferred tax credit (DTC), strengthening banks’ capital... of DTA to DTC for deferred tax related to PSI losses and accumulated provisions due to credit risk... billion, 5.5 billion stemmed from PSI losses and 7.3 billion from credit risk provisions. More
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Newsletter 80 - 01/07/2016
. Meanwhile, credit contraction remains unabated, with the drop rate accelerating slightly to 2 percent... in April. Bank credit contracts Bank credit contracted by 2 percent in May, up from 1.9 percent a month... billion pounds being wiped of the value of stocks on the FTSE 350, a credit downgrade
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Bank of Greece study finds one in six local firms is strategic defaulter
EconomyMacroeconomy-performing. The financial ability of each company was based on the internal credit rating applied by each bank and the sample was split in firms with high/low credit rating, entailing lower/higher... credit rating did not allowclassification in one of the first two categories. The firms with high
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Newsletter 117 - 05/05/2017
clawback ceilings in national health fund (EOPYY) spending, eliminating the personal income tax credit for medical expenses as well as of the tax credit of 1.5 percent on tax withheld from salaries... – involves reducing the tax-free threshold by 3,000 euros, meaning a lower tax credit of 650 euros
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Athens set for 6.7 bln bailout tranche, talks on post-MoU framework
EconomyProgrammeof a credit line, saying this would involve insecurity and a new MoU, which the government does not want... Conditioned Credit Line (PCCL) and Enhanced Conditions Credit Line (ECCL). This framework would... the economy,” he said. Tsipras also ruled out the option of a credit line, noting that it was agreed
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