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EconomyMacroeconomy
Athens takes heart from Gentiloni, Lagarde comments but still has distance to cover During the first visit to Athens of the new Economic Affairs Commissioner Paolo Gentiloni, the Greek government stepped up its efforts to secure more fiscal space that will allow it to continue its policy of tax cuts.
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Politics
Govt takes up fiscal requests with EU as pressure over min wage, main homes mounts The government is hoping that the visit of EU Economic Affairs Commissioner Paolo Gentiloni will provide an opportunity for Athens to argue its case for greater fiscal space in the coming months and years.
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EconomyMacroeconomy
Economic sentiment at 108.4 in Jan Greece’s economic sentiment (ESI) fell by 1 point in January to reach 108.4 points, European Commission (EC) figures showed on Thursday.
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EconomyMacroeconomy
Public investment under spotlight amid arguments over budget execution The issue of public investment spending became a point of friction on Wednesday when the deputy minister responsible for fiscal issues claimed the previous government used creative means to make investment spending appear higher at state budget level than it was.
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EconomyProgramme
Despite differing views IMF and EC see no immediate debt sustainability concerns Greece’s debt sustainability was assessed again by the two main institutions tasked with the analysis of the viability of the country’s debt, the IMF as part of the Article IV consultation process published last week and the European Commission in the fourth post-programme review released on Wednesday.
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EconomyProgramme
Brussels gives Athens thumbs-up for reforms and budget Greece’s new government managed to successfully clear on Wednesday the first major approval hurdle in its brief tenure as the European Commission (EC) published the fourth post-programme surveillance report, concluding that Greece has taken all the necessary steps to meet its mid-2019 commitments.
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EconomyMacroeconomy
EC sees growth at 1.8 pct for 2019, rising to 2.3 pct in 2020 and fiscal targets in reach The European Commission (EC) issued its latest forecasts for Greece in the context of its regular autumn economic forecast cycle on Thursday, when it revealed that it expects growth to remain resilient despite a slowdown in the first half of the year.
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EconomyMacroeconomy
Athens buoyed by conclusion of budget talks but IMF lowers growth forecasts The government submitted to the European Commission on Tuesday the draft 2020 budget after negotiations over the fiscal gap reportedly concluded successfully but, at the same time, the International Monetary Fund issued an indirect warning that Greece’s growth prospects for the coming years will be weaker than expected.
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PoliticsGreek Politics
Athens prepares to send draft budget to Brussels, lines up next tax measures The government is hoping to wrap up on Monday the budget negotiations it has been having over the last few weeks with the European institutions so next year’s draft economic plan can be submitted to the European Commission on Tuesday.
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EconomyBanking
Commission gives go-ahead for APS to reduce NPL pile The European Commission (EC) announced on Thursday that it approved the Greek plan, codenamed “Hercules,” for helping Greek banks remove up to 30 billion euros in non-performing loans from their books.