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Reflections on Greece's balance of payments
Agora: consumption (C), investment (I), exports (X), and imports (M). Thus, when demand is equal to supply: Y = C + I + X - M. X - M describes the exports to abroad of what Greece produces in goods... domestically (including energy such as crude oil and natural gas). The balance X - M is called the “foreign
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Opposition tries to pin government down over last year's Plan X
PoliticsGreek Politicswith the so-called Plan X that former Finance Minister Yanis Varoufakis worked on during the first half... a range of government officials, Plan X was never intended as a blueprint for Greece to follow... an institutional role. The government’s assertion that Plan X does not hide any dark plans
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China’s Footprint in Southeast Europe: Constructing the "Balkan Silk Road"
Agoraof the agreements between Hungary, Serbia and China along the Budapest – Belgrade Corridor X initiative. When... to be completed by end-2017. They form part of a larger programme to build a European corridor 8, East-West.... [6] Therefore, while trade between China and countries in the Balkans is increasing, the spill
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Greek trade deficit up 6 pct in April despite growth in exports
EconomyMacroeconomyGreece’s trade deficit increased for the second successive month in April, when it rose by 6... and imports by 5.9 and 6 percent respectively. In particular, exports advanced for the second..., exports rose by 16.9 percent, whilst imports by 8 percent, leading the respective trade deficit down
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Greek building activity drops by another 8 pct in July
EconomyMacroeconomyΤhe number of building permits issued in Greece continued heading south for the second successive month in July, dropping by 8 percent according to the Hellenic Statistical Authority (ELSTAT..., Fitch reiterated its view that house prices are expected to drop by 6 percent overall in 2014. Housing
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Turnover in the tourism sector falls 8 pct in Q4, first negative reading since Q1 2013
EconomyMacroeconomyThe Turnover Index in Accommodation and Food Services dropped by 8 percent year on year (YoY) in the fourth quarter (Q4) of 2015 from a revised rise by 5.2 percent in Q3, Hellenic Statistical... growth rate recorded in 2014. Bank of Greece (BoG) figures for 2015 showed travel receipts grew by 6
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NBG net profits decline to 8 mln in Q3, NPLs continue to fall
EconomyBankingNational Bank of Greece (NBG) reported a net profit of 8 million euros from continued operations in the third quarter (Q3), declining from the figure of 21 million posted in Q2. Factoring... targets, NBG’s NPE stock should stand at 12.6 billion by the end of next year, and at 6 billion
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Piraeus Bank records net losses of 6 mln in Q1, further reduction in NPE stock
EconomyBankingPiraeus Bank trimmed its net losses to 6 million euros in the first quarter (Q1) of 2017 from 12 million in the previous quarter. Pre-provision income (PPI) rebounded by 12 percent quarter-on-quarter... increased by 2 billion QoQ to 8 billion in March, at a cost of -7 bps. The bank said it participated
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Greece and the euro: The flight of Icarus
Agoraand admitting that the deficit for that year would come to more than 12 percent, rather then the 6... of the workforce was employed in the civil service and where public spending reached unrivalled levels, I’m guessing the first thing that would cross your mind is that I’m talking about Greece. Perhaps
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OECD sees economy shrinking by 8 to 9.8 pct, depending on whether virus returns
EconomyMacroeconomythat GDP will fall by up to 8 percent in 2020 under a single-hit scenario, with a recovery of 4.5... as high as 20.4 percent under a double-hit scenario. Private consumption is expected to fall by 8
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