Annex Appendix I MACROECONOMIC PROJECTIONS FOR GREEK DOMESTIC OPERATIONS
United Kingdom
| % annual growth (unless otherwise stated) | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | Cumulative growth rate 2013-17 |
|---|---|---|---|---|---|---|---|
| Real GDP | – 6,4 | – 4,2 | 0,6 | 2,9 | 3,7 | 3,5 | 6,4 |
| Nominal loan growth Greece | – 6,4 | – 4,2 | 0,6 | 2,9 | 3,7 | 3,5 | 6,4 |
| GDP deflator | – 0,8 | – 1,1 | – 0,4 | 0,4 | 1,1 | 1,3 | 1,3 |
| Property prices | – 11,7 | – 10 | – 5 | 0 | 2 | 3,5 | |
| Nominal household disposable income | – 8,8 | – 9,5 | – 0,3 | – 0,4 | 2,6 | 3,6 | – 4,5 |
| Private Sector deposits | – 7 | 1,3 | 1 | 3,4 | 5 | 5 | 16,6 |
| Unemployment (%) | 24,2 | 27 | 26 | 24 | 21 | 18,6 | |
| ECB refinancing rate (%) | 0,75 | 0,5 | 0,5 | 1 | 1,5 | 1,75 | |
| NPL formation peak | 2H2014 | ||||||
| Euribor 3 months (average, %) | 0,24 | 0,43 | 0,75 | 1,25 | 1,80 | ||
| Access to capital markets — repos | YES-No Cap | ||||||
| Access to capital market — covered/senior unsecured | YES — up to EUR 500 million each | YES — up to EUR 1 billion each | YES-No Cap | ||||