-
Fitch maintains Greek 'BB' rating with stable outlook amid some lack of visibility
-
Economic sentiment stable in June, but consumer confidence drops
-
BoG sees growth of 4.2 pct this year but warns of multiple challenges ahead
-
Unemployment edges down to 16.3 pct in March as inactives approach 3.5 mln
-
Greece raises another 2.5 bln with reopening of sought-after 10-yr bond
-
IMF raises outlook on Greek debt sustainability to merely 'uncertain'
How Greek banks could cut 2014 financing gap with a bond rollover
![Photo by Can Esenbel [www.mundanepleasure.com]](resources/toolip/img-thumb/2013/10/16/rock_esenbel_572_1610-large.jpg "Photo by Can Esenbel [www.mundanepleasure.com]")
In an interview with Naftemporiki daily on October 14, Greek Finance Minister Yannis Stournaras identified two key sources that could reduce – if not eliminate – the emerging funding gap as of July 2014, currently estimated at 10.5 – 11.0 billion euros. Both solutions involve rolling over of Greek government bonds (GGBs) that mature in 2014 with a total nominal value of circa 15 billion. The paper is held by Greek banks (4.47 billion) and the European Central Bank (ECB) as well as National Central Banks (NCBs).
A few hours after Stournaras’s comments were published and on the sidelines of Monday's Eurogroup meeting, ECB executive board member Joerg Asmussen rejected any idea of rolling over the central bank’s GGB holdings. “We must find a way to close Greece’s...
You need a subscription to access our analysis. Please choose one of the packages available.
Full Access
A tailor-made service for professionals
Apart from having access to all our analysis and data, subscribers will be able to consult one-on-one with our analysts.
Free Access
Read some of our analysis for no charge
By signing up to MacroPolis, readers will be able to read two of our articles without charge each month. They will not have access to our data or weekly e-newsletter.
Standard Access
Our analysis and data at your fingertips
Subscribers will be able to read the full range of our articles, access our statistics and charts, and receive our weekly e-newsletter for €450 per year.
€480.00