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ECB report highlights sluggish Greek economic growth
EconomyThe annual report of the European Central Bank (ECB) showed that Greece had the lowest rate of growth among Eurozone countries in 2017, with 1.4 percent growth compared to the average of 2.3 percent.
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February deposit balance positive by 59 mln, reversing previous month's outflow
EconomyMacroeconomyNet deposit movement in the Greek banking system returned to positive territory in February with inflows of 59 million compared to outflows of 1.40 billion euros in January, Bank of Greece (BoG) figures revealed on Tuesday.
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Eurosystem funding drops by 2.80 bln in February, led by ELA reduction
EconomyMacroeconomyGreek banks’ Eurosystem funding fell by around 2.80 billion euros in February, Bank of Greece's (BoG) monthly financial statement revealed on Tuesday.
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IFRS 9 provisions required by banks in line with expectations
EconomyBankingAnother box was ticked this week in the process that began last month, when the European Banking Authority officially launched the stress tests for Greek banks, which are due to be completed in May.
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Eurosystem funding drops by 4.58 bln in January, banknotes in circulation fall
EconomyMacroeconomyGreek banks’ Eurosystem funding fell by around 4.58 billion euros in January, Bank of Greece's (BoG) monthly financial statement revealed on Monday.
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Deposits turn negative in Jan with outflows of 1.40 bln
EconomyMacroeconomyNet deposit movement in the Greek banking system turned negative in January with outflows of 1.40 billion euros compared to positive inflows of 2.54 billion euros in December, Bank of Greece (BoG) figures revealed on Tuesday.
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BoG looks at other programme exits and options available to Athens
EconomyProgrammeOver the last few weeks Greece’s central bank governor, Yannis Stournaras, has been arguing that the Greek government should explore all options for the post-programme era, including a precautionary credit line.
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Work on post-programme framework continues despite tranche holdup
EconomyProgrammeThe delay in the disbursement of Greece’s next bailout tranche does not look like it will affect the plans to begin work on the fourth review, as well as the ongoing discussions regarding debt relief and the other post-programme arrangements.
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Eurogroup confirms third review almost done but e-auctions still a concern
EconomyProgrammeMonday’s Eurogroup did not bring down the curtain on the third review as Greece’s lenders are waiting for the completion of two more prior actions.
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Banks gear up for stress tests, with results due in May
EconomyBankingA clearer picture of the stress tests for Greek banks emerged over the past few days as the various stages and dates involved in the process were finalised.