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Debt
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EconomyProgramme
Creditors give thumbs up for 10th post-MoU review, underline pandemic legacy The Greek authorities overcame one more hurdle in the post-programme surveillance process as the European Commission released on Wednesday the tenth report since the final programme was completed in the summer of 2018.
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PoliticsGreek Politics
Launch of new insolvency process may carry political significance All eyes in Athens were on the visit of Turkish Foreign Minister Mevlut Cavusoglu on Monday, but on the domestic front the Greek authorities are preparing for the implementation from Tuesday of the new insolvency framework, which includes an end to the protection of primary residences for most households.
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PoliticsGreek Politics
Govt on alert for possible fallout from tapering of pandemic relief measures The government is bracing itself for any possible impact from the tapering of the economic relief that it has offered Greek businesses since the beginning of the pandemic.
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Economy
Greece draws another 3 bln from bond markets as debt strategy continues at pace Greece completed on Wednesday its third successful market foray of the year by drawing 3 billion euros through a new 5-year bond issue.
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EconomyMacroeconomy
Stability Programme reflects subdued expectations for 2021, high hopes for 2022 onwards Greece has submitted to the European Council and Commission its Stability Programme for the period 2022 -2024, which is based on the activation of the general escape clause that allows temporary violations of fiscal commitments due to the pandemic.
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EconomyMacroeconomy
General government debt rises to 205.6 pct of GDP in 2020 Greece’s general government debt rose to 205.6 percent of gross domestic product last year as the coronavirus pandemic sunk economic output.
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PoliticsGreek Politics
SYRIZA targets middle class with own plan for post-pandemic economic rebound In an apparent bid to win over Greece’s middle class, which was still reeling from the last economic crisis when the pandemic hit, SYRIZA has presented a range of relief proposals, including debt writedowns.
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EconomyMacroeconomy
IMF expects modest recovery, lingering debt but primary surplus to return swiftly Within the context of its Spring meetings, the IMF updated its macroeconomic and fiscal estimates for Greece in the World Economic Outlook and the Fiscal Monitor publications.
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EconomyMacroeconomy
PBO sees just 2.7% growth this year, warns about private debt Parliament’s Budget Office (PBO) published on Tuesday its report for the fourth quarter of 2020, also updating its macro estimates for 2021.
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Economy
Greek 30-year bond attracts strong demand at attractive yield Leveraging the positive sentiment following the ECB announcement last week that it would pick up the pace on bond purchases, thereby settling the latest sovereign bond markets jitters, Greece issued an ultra-long 30-year benchmark, its longest issue since January 2007.