Economy
Greek trade deficit plunges by 24.2 pct in May
After rising in the preceding two months, Greece’s trade deficit plunged 24.2 percent in May, according to the Hellenic Statistical Authority (ELSTAT).
What the ECB's latest decision on ELA and collateral haircuts means for Greek banks
The European Central Bank decided on Monday to maintain the Emergency Liquidity Assistance (ELA) limit for Greek banks at June 26 levels, when it was raised for the last time. This means that the ELA limit remains at around 89 billion euros.
After 'No' vote, pulling Greek banks back from brink a priority
With a clear win of ‘No’ vote in Greek referendum, the situation for Greek banks is expected to remain on the brink with a negative outlook.
Greek banks' liquidity position at the centre of attention
An extraordinary meeting was held on Friday afternoon to assess the liquidity position of Greek banks after the imposition of capital controls on June 29.
Greek deposit rate almost stable, loan rate slightly up in May
The interest rate on Greek households’ new time deposits marginally slipped for the second straight month by 1 basis point (bp) to 1.81 percent in May from 1.82 percent in April, according to the Bank of Greece (BoG).
IMF preliminary DSA finds Greek debt unsustainable, points to need for debt relief
The IMF published today the preliminary Debt Sustainability Analysis (DSA) that has not, however, been agreed with the other institutions nor approved by its Executive Board.
Referendum and the ECB to determine the future of Greek banks
The ECB Governing Council decided yesterday to maintain the Emergency Liquidity Assistance (ELA) funding of Greek banks at current levels. Moreover, despite earlier rumors, the ECB did not take any decision on an increase on the haircut applied to ELA collaterals.
Moody's downgrades Greece's rating by one notch to Caa3
Following S&P and Fitch, Moody’s downgraded on Wednesday Greece’s government bond rating by one notch to Caa3 from Caa2, while rating is on review for further downgrade.
Greek government's proposals to bridge gap with lenders appear to fall short
Along with the letter sent by the Greek Prime Minister Alexis Tsipras yesterday requesting a new 2-year loan from the ESM and extension of the second bailout programme for a short period, the government sent also a 2-page letter to the heads of the institutions.
Referendum call stretches state liquidity, pensioners first to bear the brunt
The imposition of capital controls accompanied by a bank holiday for 6 working days starting from June 29 until July 6 had a series of negative repercussions on the life of Greek citizens and the economy.