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Referendum call finds Greek banks teetering on the edge
EconomyAlexis Tsipras's televised address announcing in which he proposed a referendum for Sunday, July 5... that have to be addressed imminently: 1) What will happen if the ECB stops providing additional liquidity to Greek banks as of July 1 when Greece will not be under a programme. 2) Which
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Tsipras turns down last-minute Juncker offer, plans to stand aside if 'Yes' wins
PoliticsGreek Politicsbetween Greece and its lenders. Juncker reportedly proposed: 1) Tsipras commit to the institutions... to extend the Greek programme for one month. 5) Tsipras and his government campaign for the “Yes” vote ahead... ERT for a lengthy interview. During the programme, Tsipras revealed the following points: 1
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Where the key differences between Greece and the institutions lie
EconomyProgrammetargeting revenues of 1 percent of GDP and Greek authorities 0.93 percent of GDP. This difference... to a similar amount from zero at the moment. The Greek government counter proposes an increase to 5 percent... percentage points (pp) restoring them to their levels before July 1, 2014 when they were reduced by a similar
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Primary surplus 3.1 bln above target in H1 on severe underspend
EconomyMacroeconomypercent in June to 575 million well below the previous months’ figures ranging between 0.9 – 1... below the FY target namely: 1) Grants to Manpower Employment Agency (at 21.3 percent of the annual... with many children (at 24 percent) 5) Grant to the Intergenerational Solidarity Fund (AKAGE) (at zero
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Fitch puts Greek banks' capital needs between 11.2 and 15.9 bln
Economyto continue to qualify as core capital. 5) Target Common Equity Tier 1 (CET1) ratio at 12 percent... certain assumptions. In the first scenario, the rating agency assumes: 1) Non-performing exposure (NPE
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Budget execution improves significantly in Oct, primary surplus reaches 4.53 bln
EconomyMacroeconomyincome tax fell by 1 percent to 922 million. Total ENFIA revenues are targeted at 2.65 billion euros... that remain proportionally well below targets. These mainly involve: 1) Grants to Manpower... million) 5) Grant to the Intergenerational Solidarity Fund (AKAGE) (at zero versus FY target of 454
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Greek pensions: The unsolvable equation
AgoraLast July the conditionality of Greece’s third programme included savings of 1 percent of GDP from... and was facing a default, the pension funds were looking at a gaping hole of almost 5 billion... at the end of 2013, took roughly 1 million people out of labour force. The latest figure as of October 2015
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CPI falls at a slower pace of 0.5 pct in February
EconomyMacroeconomyin the clothing and footwear sector (-5 percent), while prices in transport and household equipment also fell 1..., while goods index fell by 1 percent. The drop in February CPI is mainly attributed to a decrease
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Greek corporate lending rates up to 250 bps higher than eurozone average
EconomyMacroeconomyThe corporate lending rates did not show any marked change in February with that for amounts above 1 million... (amounts below 250,000 euros) and at 5.23 percent (amounts between 250,000 and 1 million euros.... In addition, the rate on consumer credit without a fixed maturity (mostly credit cards) edged up by 5 bps
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Drop in building activity slows to 12.2 pct in February
EconomyMacroeconomy. The institutions’ forecasts point to a further decline by 5 percent in 2016 and 1 percent in 2017... also fell by 16.6 percent, while the respective volume edged up by 1 percent in February. In absolute
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