Economy
EC sees milder Greek recession in 2015, debt ratio to climb to 200 pct in 2016
In its autumn economic forecasts published on Thursday, the European Commission (EC) revised its estimates on the Greek economy to take into account the uncertainty surrounding the bank holiday and the imposition of capital controls in late June.
Coalition in rush to wrap up pending bailout issues
Ahead of Monday’s Eurogroup, the Greek government seems willing to accelerate its efforts to close some key pending issues that could unlock the disbursement of the next sub-tranche of 2 billion.
Eurobank presents 2.12 bln equity raising plan to cover capital needs
Eurobank presented on Tuesday its recapitalisation plan to cover the capital needs that were announced by the ECB on Saturday.
National Bank reveals capital plan, which includes sale of whole Finansbank stake
National Bank (NBG) revealed on Tuesday its capital plan to address the shortfall that emerged from the comprehensive assessment conducted by the ECB's Single Supervisory Mechanism (SSM).
Cabinet act firms up details of CoCos issuance by Greek banks
The cabinet act clarifying technical details related to the Contingent Convertible Securities (CoCos) was published in the Government Gazette on Tuesday.
Piraeus Bank reveals mitigating actions aimed at reducing size of capital increase
Piraeus Bank revealed on Monday the capital actions that it intends to submit to the ECB’s Single Supervisory Mechanism (SSM) to cover the capital shortfall that resulted from the comprehensive assessment.
Marginal changes in loan and deposit rates in Sept
After a sharp reduction of 62 basis points (bps) in the preceding two months, Greek households’ new time deposit rate remained broadly stable at 1.18 percent in September from 1.19 percent in August, Bank of Greece (BoG) figures showed on Monday.
PMI continued improving in Oct but survey data points to economic struggle ahead
Greece’s Manufacturing PMI improved by another 4 points in October, when it rose to 47.3 from 43.3 in September, a Markit survey showed on Monday.
Sharp increase for Greek bank provisions in Q2 due to capital shortfall highlighted by ECB
Following the publication of their capital needs resulting from the comprehensive assessment conducted by the ECB’s Single Supervisory Mechanism (SSM), Greek banks released on Saturday evening their second quarter (Q2) financial results.
ECB sees Greek banks' total capital needs at 14.4 bln, recap plans to come
The ECB’s Single Supervisory Mechanism (SSM) announced on Saturday the outcome of the comprehensive assessment of Greek banks, which consisted of an Asset Quality Review (AQR) and a stress test under a baseline and an adverse scenario.