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Covid
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EconomyBanking
Covid-19 presents new, significant challenge in banks' effort to reduce NPLs The Greek banking system entered the new year with positive momentum for tackling the stock of non-performing exposures (NPE) after the Hercules asset protection scheme (APS) was launched, but the four weeks since the outbreak of the virus in Greece have brought the economy to a standstill and raised concerns about a new generation of bad loans.
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PoliticsGreek Politics
PM orders lockdown as opposition focusses on health system's capacity Prime Minister Kyriakos Mitsotakis announced a lockdown on Sunday night after a discernible rise in the number of coronavirus-related deaths and confirmed cases.
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Economy
BoG sees broad economic impact from Covid-19, wiping out 2020 growth prospects The Bank of Greece (BoG) published on Friday the governor’s annual report for 2019, which – understandably – is dominated by the impact of Covid-19 on the Greek economy, leading to the central bank revising its forecasts for the economy in 2020, when it expects no growth at all.
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Economy
Govt extends 800-euro bonus, heralds loan payment holiday for individuals as well as firms Only two days after announcing economic measures of up to 2 billion euros to support businesses and employees, while also making another 1.8 billion euros of European Union funds available, ministers unveiled further interventions on Friday.
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PoliticsGreek Politics
PM increases coronavirus support package to 10 bln, while sounding dire warning to public In his third address to the nation since the start of the coronavirus outbreak, Prime Minister Kyriakos Mitsotakis announced a drastic expansion of the economic support package, pledging a total of up to 10 billion euros to fight the spread of the disease in Greece and support the workers and businesses affected by containment measures.
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PoliticsGreek Politics
More restrictions on way as Athens revels in ECB decision Prime Minister Kyriakos Mitsotakis was due on Thursday afternoon to give his third public address in two weeks in connection to the coronavirus.
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PoliticsForeign Policy
Turkey closes borders, Greece keeps up pressure Ankara decided on Wednesday to close its borders with Greece and Bulgaria in an attempt to slow the spread of the Covid-19 virus.
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EconomyFeatures
Greek hotel industry reports COVID-19 related losses of half a billion to date The Hellenic Chamber of Hotels (HCH) has released a survey showing the first estimations of the impact on Greece’s hotel industry due to the coronavirus epidemic.
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Economy
ECB makes Greece eligible for up to 12 bln in bond purchases amid market frenzy After seeing its sovereign debt market decimated within a period of four weeks, Greece breathed a sigh of relief on Wednesday night when the ECB announced that it will include the country in its Pandemic Emergency Purchase Programme (PEPP).
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Economy Government readies up to 2 bln in assistance for shuttered firms and employees Finance Minister Christos Staikouras announced on Wednesday a second round of coronavirus-related support measures for the Greek economy, which will total roughly 2 billion euros.