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Greece's golden visa scheme brings revenues, but risks as well
EconomyFeaturesproperly known as the “Residence Permit for Investment Activity in Greece”, gives investors and their immediate family a five-year residence permit. To qualify, under Law 4251/2014, applicants must buy... European country. Holders of the residence permit have a right, but not an obligation, to reside
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Changes to primary residence protection proposed in bid to draw more applications
EconomyFeaturesarea to their main residence to apply for protection. This concession covers mainly those who live in a different city due to their work, plus cases where the property has more than one owner... can be protected at the request of just one of the owners. Data from the Special Secretariat
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The IMF crisis and how to solve it
AgoraThe IMF is approaching its 70th birthday and the Greek programme has been a candidate for one... for central banks in the 1990s. Why not the Fund? Europe experienced twin crises, one in economy... for the Fund? First, the Fund broke one of its most essential rules by supporting a programme in Greece from
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Newsletter 196 -01/03/2019
being a safety net for those in serious financial distress but willing to meet their mortgage... loans secured by primary residence collateral. Additionally, the new scheme creates an additional... number of design and technical details, which need to be settled so as to ensure that the scheme
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EC sets out improvements Athens should make to primary residence proposal
EconomyProgrammeup being a safety net for those in serious financial distress but willing to meet their mortgage... loans secured by primary residence collateral. Additionally, the new scheme creates an additional... of Non-Performing Exposures (NPEs) from the systemic banks. The protection of primary residences under
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What will it take to reverse the Greek 'brain drain'?
SocietyOne of the more worrying outcomes of Greece’s financial crisis and prolonged recession is the so... is clearly not intended as a total solution, many have expressed misgivings over its design and its... of just over 11 million. Over the same period, 227,412 Greek citizens returned to Greece, giving a net
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NBG results show net profits of 409 mln euros on strong trading income in Q1
EconomyBankingNational Bank of Greece (NBG) reported a net profit of 409 million euros from continued operations... of corporate and retail loans worth 300 million euros had also been finalised. P&L Net interest income (ΝΙΙ) fell by 4 percent QoQ to 277 million. This reflects mainly the rapid NPE reduction of 4.7
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NBG profits at 661 mln in H1, net interest income at 1.1 bln
EconomyBankingprofit was 567 million euros, from 611 million euros in H1 last year. P&L Net interest income (ΝΙΙ) increased 1.5 percent YoY to 1.1 billion. Net fee income increased by 10 percent to 243 million
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Primary residence talks continue amid uncertainty about draft legislation
EconomyProgrammeof the primary residence framework amid concerns that Athens is set to act unilaterally and table... to Parliament this Friday. One of the key issues under discussion is the business loans secured against primary residences that the government would like to be included in the new framework. According
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Brussels highlights lagging reforms ahead of decision on debt relief measures
EconomyProgrammeof protection of primary residences raises concern. "It has a large number of design and technical... Markets Programme (SMP) and the Agreement on Net Financial Assets (ANFA) and a waiver of the step-up... surplus target of 3.5 percent of GDP, the non-accumulation of net arrears, though additional efforts
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