The number of Greek inspectors has been increased from 4 to 16. Following an initial check, 179 cases have been identified, and tax notices have been sent to 72 persons with incomes ranging from 400 K to 5 M euros. The remaining 107 are nearing review completion. The list of approx. 2000 potential tax evaders is referred to as the Lagarde list named after former French finance minister Christine Lagarde, who passed it on to Greek officials. Ekathimerini 3/7/14
Yes, Greece’s DEPA proposed pipeline will only supply 8 billion cubic meters (bcm) per year. And The Trans Adriatic Pipeline (TAP) that has been approved will only have an initial capacity of 10 bcm. Evidently the idea is to gradually develop sources of energy. Greece has energy deposits that could be worth 150 billion euros in state revenue over the next 30 years. (ekathimerini 2/26/14)
It was reported Washington has played an active role in reigniting talks between Greece, Cypress and Turkey as the U.S. has the desire to see Europe “lessen” its dependence on natural gas from Russia. Obstacles can be overcome. Analysts say Turkey's beleaguered leader, Mr. Erdogan, would welcome a foreign policy success in Cyprus at a time when his scandal-hit government is not only under immense fire but faces unprecedented pressure with municipal elections this month (March). And Greek Cypriot officials have begun to express confidence that hydrocarbons could foster cross-border cooperation – much in the same way that coal and steel helped unite Europe's once warring partners in a community of nations in 1950. (High stakes as Greeks and Turks revive Cyprus peace talks, Guardian, 2/12/14)
Energy Minister stated Greece will be upgraded and will play a powerful role in the international energy scene while Greek consumers will enjoy lower energy costs. The feasibility study for the pipeline was launched by DEPA, a natural gas company in Greece. Europe is interested in reducing its dependence on Russian gas. (Athens News Agency, 3/10/14)
Yes, I read somewhere that they are nearing completion of a sale of NBGI, which was founded in 2000, manages about 900 million euros ($1.2 billion) in European private-equity, venture and real estate funds, according to its website. (Give those kids a big hug now that the market has closed).
Since the Deutsche announcement came out rather late today, this may bring in more buys tomorrow. GLTY!
There’s big difference among analysts. News of -0.20 is from mtnnewswires. This estimate also is what Yahoo’s one analyst lists. However, WSJ lists Q4 at + 0.28. Perhaps estimates will be revised and will result in a greater concensus. It will be good if NBG beats analysts estimates. (Yahoo lists next year EPS at 0.15)
This info is on Think or Swim by TDAmeritrade. Their info comes from mtnnewwires, a division of Midnight Trader.
The rating results from Deutsche Bank's forecast for a strong recovery in fundamentals for the Greek banking sector.
The major differences were the capital needs of Greek banks, JP Morgan points out in today's report on the occasion of the publication of the results of the stress test, stressing that this was not justified as the 4 banks do not have such large deviations.
In particular, JP Morgan analysts emphasize that the elements FOR THE INTERNAL CAPITAL GENERATION OF NATIONAL IS TOO LOW, compared with those announced for Alpha Bank and Piraeus.
Of course, this development is justified by international banking activities, but differences on domestic banking activities of 3 is not so great as to justify such large deviations.
JP Morgan does not exclude the possibility of increasing capital requirements for banks, however you should first see the movements of the administrations and confirmation of hypotheses on the basis of which defined the needs to clarify the prospects. bankingnews gr 3/10/14
According to NBG sources, the 2.183 billion euros can be covered by selling some of its subsidiaries. The NBG Group has a large number of subsidiaries and assets that other banks do not have. Options under consideration include its national insurance, mutual funds (already in advanced discussion with a foreign investor) and 40% of Finansbank. Don’t you think there will be profit derived from the remaining 55% (NBG owns 95% of Finansbank)?
Also noteworthy, NBG had the best performance as measured by the stress test. The capital requirements were caused when the lira currency declined and affected Finansbank in Turkey.
… the first impressive example of dynamic development of the country was from tourism and exports of goods helped to arrest the decline of the country's GDP in 2013 and will contribute to the recovery of 2014.
The second sample dynamic development will occur in 2014, with the resumption of investment in major infrastructure projects and accelerating privatization mark a significant volume of investments in the coming years.
The third sample acceleration of growth will be from the combined development of agriculture and animal husbandry in the Greek industry - and by attracting significant FDI in many of these areas.
The fourth sample development resulting from the return of Greek deposits in the country and the positive credit extension and reactivation of the property market and attract significant capital from abroad in this important market.
The fifth sample dynamic growth will be the development of combined transport in the country with the operation of ports, airports and road and rail transport and the emergence of the country as a major international transit center. Also expected significant investments in energy, and health and even export orientation, etc..
Therefore supports the Alpha Bank, the country's high growth after 2016 is now possible and its implementation will facilitate the needed primary surpluses, together with the gradual but systematic improvement of the tax administration of the country that can contribute to increase in tax revenue at rates higher than nominal GDP even with lower tax rates so as to indirect and direct taxes.
The economic team is working on establishment of the Irish model for debtors which allows restructuring of debts in place of bankruptcy and home repos. Guess the need for this model will be even greater if collective redundancies are applied to labor. I read the Irish model for those heavily indebted established a standard of living enforced by following a budget based on needs rather than wants. Wonder how the Irish government enforced this model upon debtors? See “Tough negotiations with troika ahead of Eurogroup meeting” Capital gr 3/4/14
The only source that is reporting a delay to November is bankingnews gr. So how much truth is there to their report?
Posted 03/06/2014 on bankingnews gr
The Greece is squeezed into the power game in the power games of the Troika.
Yet the most dangerous is that these games are used as a hostage in Greek banking.
Unfortunately Troika playing a game of control of Greece, its economy and its policies.
want to tie literally through a loan from 18 to 20 billion to Greece to keep it dependent, podigetimeni, bent and tied for many years.
The EU wants Greece guinea pig.
otherwise not explained why everyone is up in arms on hearing the news that Greece plans to exit markets.
Unfortunately the EU troika and Germany want Greece to the status of permanent hostage to can with conceit and arrogance to suggest to others that "be careful what you may get if you're not consistent."
These power games in this power game unfortunately used the Greek banks so provocative and unacceptable.
want the Greek banking hostage, want banks as leverage to serve alien purposes.
's Greek banks may not be the klotsoskoufi Troika institution are part of the Eurosystem European and global community banks.
Banks are the custodians of deposits of citizens of the social wealth.
toys banks are dangerous, unacceptable and show that those who are behind all this are not aware of their responsibilities.
Unfortunately shamefully playing games and internal factors.
To escape from the national impasse and nationalization, and the bail in losses to shareholders who invested 1.07 billion are unaware that they can throw rocks in banking with devastating consequences.
Banks do not is anyone hostage.
Banks is an independent institution with a strong role in the economy, society and development.
shamefully Stop your plans for the Greek banks.
Respect the role of banks in the economy and society and realize that you are ultimately damaging to Greece