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Newsletter 152 -23/02/2018
to the state from May 1, the divestment of lignite units followed by the sale of 17 percent... Mechanism head Klaus Regling. The 5.7-billion-euro tranche will later be followed up by another 1 billion... (BoG) figures showed. The respective figure for a year ago showed a deficit of 1 billion, meaning
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Unemployment rate falls to 21.5 pct in 2017 despite increase in Q4
EconomyMacroeconomylargely by a rise in the number of unemployed by 36,782 quarter-on-quarter to over 1 million, along... time since Q3 2011 when the absolute number of unemployed dipped below the 1 million mark. This trend... (over 1 year) declined for a fourth continuous quarter to 722,900. Out of the total, long-term
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Green light for next bailout funds as Commission stands ground on post-MoU scenarios
EconomyProgrammetowards the growing cash buffer and 500 million euros will be used to reduce state arrears. Another 1... from May 1 onwards and the full 1 billion euros will be destined for arrears clearance. The ESM also
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Piraeus Bank makes net profit of 12 mln in Q4, edges into profitability for 2017
EconomyBanking, EFSF/ESM bonds were down to zero by the end of January 2018. Gross loans further contracted by 1... percent in 2017 to 40.9 billion. Total deposits rose by 1 percent annually to 42.72 billion. IFRS 9... on the bank’s Common Equity Tier 1 (CET1) ratio. NPE coverage was seen at 52 percent and NPL coverage at 83
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Athens and creditors place immediate focus on remaining key deliverables
EconomyProgrammeof the tax-free threshold to be carried out next year along with the pension cuts worth 1 percent of GDP... programme. “Triggers for a rating upgrade could include: (1) continued successful implementation of fiscal... to some combination of: (1) a lack of cooperation between Greece and its institutional creditors; (2
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Piraeus Bank posts net loss of 80 mln in Q1
EconomyBankingadoption of the IFRS9 accounting policy for exposures in Stage 3 (1 billion euros). Net fee... Assistance (ELA) funding dropped to 2.1 billion in March, falling by another 1 billion euros in mid May... a Transitional Common Equity Tier 1 capital ratio of 14.5 percent under the “baseline” scenario
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Fiscal issues appear settled as Greece and institutions head for review deal
EconomyProgramme, which means that the 1 percent of GDP in pension cuts will kick in from the beginning of next year... to generate an extra 1 percent of GDP in revenues, should be implemented next year. The Greek... to pensioners just before the pension cuts take effect on January 1. There also seems to have been
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Eurobank net profits at 34.5 mln in Q1
EconomyBanking, the decline was -62 million, followed by small businesses (-12 million) and consumer loans (-1 million... not been serviced for around 5 years, coming to a total of 1 billion which the bank aims to sell...-in Common Equity Tier 1 (CET1) ratio fell to 15.3 percent from 15.8 percent Q4. The bank noted
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Apartment prices increase by 0.8 pct in Q2 for first rise since Q4 2008
EconomyMacroeconomyof 2017, the decline in property prices came to an average drop of 1 percent, improving against.... The equivalent change in prices for Q2 2017 came to a decline of 1 percent. Due to capital controls... exposures (NPEs) as of Q1 according to the BoG. Building activity rose by 1 percent in April, which put
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Fiscal matters expected to dominate talks as lenders return for post-MoU check
EconomyProgrammeconfident that there will be an overperformance of between 700 million and 1 billion euros..., Tsipras announced that the government intends to pay out a total of 1 billion euros to members... to be submitted to Greek Parliament on October 1, before being passed over to the European Commission
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