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  1. Budget primary shows deficit of 7.01 bln in September
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    The budget primary balance recorded a deficit of 7.01 billion euros in the first nine months of 2020, compared to a surplus of 4.47 billion noted in September 2019, the final Finance Ministry (MoF... during the first nine months of the year. Personal income tax (PIT) was below target by 763 million

    100%

  2. Alpha Bank posts net loss of 2.04 bln in Q2 after booking Galaxy Project securitization
    Photo by MacroPolis

    EconomyBanking

    to a loss of 282.2 million euros in Q1, after booking losses from its Galaxy NPE portfolio securitization. The Galaxy transaction had a 2.1 billion-euro impact on the bank's earnings. On an aggregate... of the Project Galaxy securitization, the stock of non-performing exposures (NPE) in Greece fell to 8.81

    64%

  3. Podcast - Long live the revolution: The legacy of Greece's 1821 war of independence

    Agora

    Greece is celebrating the 200th anniversary of its war of independence, which began in 1821 and allowed Greeks to free themselves of Ottoman rule and oppression, and form their own nation-state. To mark this occasion, we spoke to Sakis Gekas, the Hellenic Heritage Foundation (HHF) Chair of Modern

    59%

  4. Alpha Bank enters agreement with Davidson Kempner for 10.8 bln Galaxy securitisation
    Photo by MacroPolis

    EconomyBanking

    percent of the junior and mezzanine notes in Project Galaxy -- a securitisation of 10.8 billion euros... Asset Protection Scheme. Upon Galaxy’s completion -- which the bank expects will happen in the second... percent and 29 percent in September 2020, according to the statement. Galaxy’s effect on Alpha’s

    57%

  5. General govt primary cash deficit at 7.01 bln in Sept, arrears up by 113 mln
    Photo by MacroPolis

    EconomyMacroeconomy

    Greece’s general government (gg) primary cash deficit came to 7.01 billion euros in the first nine months of the year compared to a surplus of 4.53 billion in the same period last year, according... at a deficit of 7.01 billion euros. The budget primary balance for the same time last year came

    53%

  6. Budget primary shows deficit of 7.01 bln as revenues suffer in September

    EconomyMacroeconomy

    The budget primary balance recorded a deficit of 7.01 billion euros in the first nine months of 2020, compared to a surplus of 4.47 billion noted in September 2019, the preliminary Finance Ministry (MoF) budget execution bulletin for September showed on Thursday. The primary surplus was below its

    46%

  7. Bravo, Bank of Greece
    Image: MacroPolis

    Agora

    give a different result. The note hints that the discrepancy may come, once again, from military... of the European Central Bank.” I have read the first note with much interest and wish to applaud the Bank.../privatizations (below the line). In short, I applaud the Bank of Greece for producing such a helpful

    44%

  8. Alpha seals bad loans sale deal, lenders brace for NPE management in Covid-19 era
    Bank of Greece

    EconomyBanking

    portfolio securitisation, Project Galaxy. This portfolio represents one of the largest securitisations... Investor DAC, an entity financed by funds managed by affiliates of Fortress Investment Group LLC

    33%

  9. Piraeus completes Sunrise II securitisation as banks stay focused on NPE reduction
    Photo by MacroPolis

    EconomyBanking

    projects of 10 billion euros comes on top of the major securitisation of Galaxy by Alpha Bank, worth... the Frontier securitisation after entering talks with a consortium of Fortress, Bain Capital

    33%

  10. Banks wrap up balance sheet transactions for 2021 on path to slashing NPEs

    EconomyBanking

    euros, by Piraeus on top of the major securitisation of Galaxy by Alpha Bank, worth 10.8 billion euros... on Cosmos on October 22 and NBG was in definitive agreement with Bain Capital, Fortress and DoValue

    33%