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Newsletter 14 - 06/02/2015
, this is our understanding of what the policy programme would include: 1. The abolition... (ENFIA abolition and new taxation) was estimated at 2 billion. However, citing government sources... of 300,000 euros. The estimated revenues from this new tax have not yet been disclosed. 2. Reports also
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Greece seeks 3-year programme that could exceed 65 bln
EconomyProgrammeuntil the end of 2018 standing at 29.8 billion euros including 1) Payments to the IMF of 9.9 billion, 2) Redemptions of Greek government bonds held by the Eurosystem of 14.3 billion 3) Redemption... with a positive or negative impact on the gross amount. 1) The preliminary DSA called
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SYRIZA and New Democracy neck-and-neck as post-election scenarios become clearer
PoliticsGreek PoliticsCent Union 3.6 Undecided 14 #Greece — MacroPolis (@MacroPolis_gr) September 2, 2015 Pulse poll... Ind Greeks 2.5 #Greece — MacroPolis (@MacroPolis_gr) September 1, 2015 However, it was the survey... 12.8 #Greece — MacroPolis (@MacroPolis_gr) September 2, 2015 The GPO poll also showed that Alexis
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NBG reports net losses of 401 mln in Q3, NPL formation accelerates in Greece
EconomyBankinginterest income (NII) fell 2 percent quarter on quarter (QoQ) to 738 million mostly due to negative FX... of the Eurosystem funding by 2 billion euros QoQ fully attributed to lower Emergency Liquidity Assistance (ELA) funding. The Common Equity Tier 1 (CET1) ratio remained almost stable QoQ at 9.6 percent
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S&P affirms Greece’s rating with stable outlook
Economynotches above that of Moody’s (‘Caa3’ set on July 1, 2015) and two notches higher than Fitch (‘CCC... and cumulative privatisation proceeds of 2 percent of GDP in the next four years. Under optimistic assumptions... below 2 percent, the rating agency stresses it will take another 17 years before the Greek debt ratio
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NBG records net profits of 73 mln in Q4, turns profitable for whole year
EconomyBankingpercent. P&L ΝΙΙ fell by 2 percent QoQ to 440 million as the negative impact from loan deleveraging... almost doubled QoQ to 23 million. Operating expenses dropped by 2 percent QoQ and by 3.7 percent... to 12.3 billion in Q4 after the repayment of the Contingent Convertible bonds (CoCos) worth 2 billion
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Deposit interest rates largely unchanged in April, average loan rate increases
EconomyMacroeconomyGreek households’ new time deposit rate edged up by 2 basis points (bps) to 0.68 percent in April... area average rate of 0.42 percent. Taking into account a slight drop of 2 bps in the corporate... to 4.67 percent, reflecting a notable increase in the rate for loan amounts of over 1 million euros by 64
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IMF forecasts high primary surpluses, tempers growth expectations
EconomyMacroeconomypct in 2023. On the fiscal front, the primary balance is expected to double next year to 2 pct of GDP, from 1 pct in 2023 and remain above 2 pct for the whole forecast horizon up to 2028 at 2.2 pct.... In the World Economic Outlook (WEO), real GDP growth is seen at 2.5 pct this year, slowing down to 2 pct
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GDP unchanged on quarterly basis in Q3, up by 2.1 pct YoY
EconomyMacroeconomy. Exports decreased by 0.7 percent and imports increased by 2 percent. The export drop was led... 2022, all components recovered. Final consumption increased by 1 percent YoY, while investments also increased by 4.9 percent. Exports rose by 1 percent year-on-year, with goods down by 1.1 percent
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Greece takes first round against Covid-19 but fight continues
Agora, primarily through retirement – in total 10,862 staff left the Health Ministry during the period.... The appointments were to abide by a 1:1 replacement rule (one hire for each departure) and would therefore... the 1:1 ratio for the health service, and to continue the hiring programme put in motion
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