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The first cut is the deepest? Greek pension reforms in context
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EconomyFeaturesIt is 5:59am on a Sunday morning. The host of the morning talk show, a man of near-pensionable age – a look he has affected for well over a decade – adopts an alarmed look. The caption screams “NEW PENSIONS MASSACRE”. Projected on the backdrop, a dense table of numbers several columns wide defies legibility, and several talking heads are lined up in a panel to argue vociferously and incoherently over how badly pensioners can expect to suffer from the latest spending cuts.
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Economic sentiment up to 104.2 in May, construction confidence grows by 15.7 pts
Greece’s economic sentiment (ESI) grew by 0.6 points to 104.2 in May versus 103.6 in April, European Commission (EC) figures revealed on Wednesday.
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EC forecast acknowledges pressure on Greek households, revises down growth
The European Commission (EC) had to revise its growth estimates for Greece in its Spring 2018 forecasts and is now expecting the country to grow this year by 1.9 percent, from 2.5 percent previously.
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Institutions prepare for Athens return, completion of fourth review
The institutions will return to Athens on May 14 with a view to securing a staff-level agreement (SLA) to bring the fourth review to a close later in the month, the Eurogroup decided on Friday.
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Economic sentiment rises to 103.6 in Apr, consumer confidence rises by 4 pts
Greece’s economic sentiment (ESI) rebounded by 3.8 points to 103.6 in April compared to 99.8 in March, European Commission (EC) figures revealed on Friday.
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Juncker heralds MoU exit but fails to add clarity during Athens visit
While the visit of European Commission president Jean-Claude Juncker to Athens on Thursday was seen as a symbolic gesture ahead of Friday’s Eurogroup and within the context of the final months of Greece’s third programme, it did little to provide clarity regarding the obstacles that have to be overcome in the coming weeks.
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Debt, fiscal path still divide lenders ahead of Washington Group meeting
All eyes will be on Friday’s meeting of the so-called Washington Group at the sidelines of the International Monetary Fund’s Spring Meetings, with Athens hoping that the gathering of some of its lenders will provide greater clarity about the upcoming programme exit.
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Doubts about whether package deal with lenders is feasible by June
The completion of the fourth review and the possibility that a delay in ticking off the 88 prior actions could push Greece and its lenders to the limit is back in focus this week.
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Economic sentiment drops in March after reaching recent high, consumer confidence stable
The strong recovery trend in Greece’s economic sentiment (ESI) stopped in March as it dropped by 4.5 points to 99.8, from 104.3 in February, data from the European Commission (EC) showed on Tuesday.
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Progress on new property values but concerns about energy privatisation
A key prior action, involving the recalculation of property values so they can be fed into the ENFIA real estate tax, appears on the way towards completion but questions have arisen regarding another key deliverable.