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Newsletter 120 - 26/05/2017
as the biggest problem. The Greek figure is three times higher than the euro area average of 9... than the target. In addition, gross revenues (revenues before tax refunds) beat the target by 534... billion, 155 million lower than the target. This is fully attributed to indirect taxes, which were
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Banks meet overall NPE reduction target in Q1 2017, largely on write-offs
EconomyMacroeconomyquarter-on-quarter (QoQ) to 103.9 billion, 1.3 billion lower than the target of 105.2 billion. However... in Q1, 1.8 billion lower than the target. In contrast, residential NPEs came in at 27.7 billion, 400 million above the target, while consumer NPEs amounted to 14.3 billion, 100 million higher than
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Aided by underspend, budget primary surplus reaches 1.84 bln in 5-month, 792 mln above target
EconomyMacroeconomyunderspend with primary expenditure coming in 791 million lower than target. The monthly primary... million higher than target. The aggregate figure for the 5-month period showed primary expenditure... said that the lower-than-expected expenditure mostly reflects weaker earmarked revenues (by 291 million
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Compliance report looks at programme financing, arrears clearance and 2016 performance
EconomyProgrammein arrears clearance, having reduced the stock by more than one third since June 2016. The pile... on 2016 revenues relate to the higher than expected dividend from the Bank of Greece as well..., lower than expected investment spending and continued expenditure restraint also supported the fiscal
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Government stalls possible bond issue, clashes again with judiciary
PoliticsGreek PoliticsMonetary Fund is holding its executive board meeting on June 20, rather than June 27 as was initially... that it achieves a lower yield than the New Democracy-led coalition in 2014, when it reached 4.95 percent... that the 2014 bond had a yield that was 1.41 times higher than Portugal’s rate. He suggested that if the same
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UN steers clear of Cyprus blame game as focus moves to hydrocarbons
PoliticsForeign Policysteps should be. Eide made this comment after briefing the UN Security Council for more than two hours... said there had been a collective failure in reaching an agreement rather than anything else. “We... intervention by the council that this process took Cyprus closer than ever before to a settlement
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Greece completes first bond issue in three years, eyes more on way out of programme
Economyeach, while Piraeus GGBs amounted to less than 400 million euros. The new bond coupon of 4.375 percent stands 0.325 percentage points lower than the respective coupon of 4.75 percent of the previous... with more than 550 orders from the investment community. Although the transactions are not fully
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Newsletter 129 - 28/07/2017
further transactions should be expected by August 2018. somewhat better than expected”. Tsakalotos also... in 1.16 billion below target coupled with a higher-than-targeted Public Investment Budget (PIB) balance... attributed to a better than expected performance of direct taxes. Tax revenues beat target by 451 million
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Overdue social security contributions increase 827 mln to 23.3 bln at end of Q2
EconomyMacroeconomyto over 800,000 at the end of Q2, a rise of more than 182,000 QoQ. The breakdown shows that nearly three quarters of debtors owe less than 15,000 euros each for an aggregate amount of 2.17 billion... percent of total) owe more than 1 million each for a total amount of 6.53 billion. Though they represent
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Greek demographic ratios among the worst in Europe
Societyto compensate for the number of deaths in less than a third of EU states. It also points to the gulf... notes that more people leave the labour market to retire than young people enter it to replace them. “In countries with low fertility rates this process is happening more quickly and abruptly than
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