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  1. Funding needs take centre stage in row between New Democracy and SYRIZA

    Economy

    eliminated ELA funding. In addition, it is already widely known that the largest part of Greek banks’ ECB..., Greek banks could resort to the Emergency Liquidity Assistance (ELA) mechanism of Bank of Greece (BoG) to address this liquidity issue. Greek banks used the ELA facility heavily in 2012 with a peak

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  2. How Greek banks can balance on the collateral tightrope
    Photo by MacroPolis

    Agora

    (ELA) funding. Based on the latest official BoG figures, Greek banks used ELA funding of 74.4 billion... used ELA funding of 76.5 billion by that date. This is higher by 2 billion on the end-April figure... haircut Assuming that the ECB will continue providing ELA funding to Greek banks since they remain solvent

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  3. What higher ECB haircuts on collateral could mean for Greek banks' liquidity
    Photo by MacroPolis

    Economy

    the haircut applied to the collateral used by Greek banks for Emergency Liquidity Assistance (ELA) funding... of Greece (BoG), Greek banks’ cash ELA funding reached 68.51 billion euros at the end of March... funding purposes. Overall, the nominal value of the currently available ELA collateral amounts to around

    22%

  4. After 'No' vote, pulling Greek banks back from brink a priority
    Photo by MacroPolis

    Economy

    in the Emergency Liquidity Assistance (ELA) limit for Greek banks. Press reports initially noted that the ECB... the ECB Governing Council convened for the last time on Greece, it decided to keep the ELA limit unchanged, while further postponed an increase in the ELA collateral haircut. Although, Greek banks

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  5. Capital controls in Greece? A response to Professor Sinn
    Photo by MacroPolis

    Agora

    for the Eurozone (EZ) to provide sufficient liquidity, say via Emergency Liquidity Assistance (ELA) under... that lacks liquidity, simply because ELA has reached an arbitrary upper bound? Third, Professor Sinn misrepresents facts in a couple of aspects related to Cyprus. The increase in ELA for the Cypriot

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  6. Sharp rise in M&A activities as 2019 proves record year
    Photo by MacroPolis

    EconomyFeatures

    by PricewaterhouseCoopers Greece (PWC), which points to improving investor and business appetite... banks to the value of 236 million euros. In 2018, a total of 51 M&A transactions were recorded by PWC..., and representing a record year for such activity in Greece. According to PWC, this activity has been

    20%

  7. The state of play with Greek banks' liquidity
    Photo by MacroPolis

    Economy

    of Greek banks’ access to Emergency Liquidity Assistance (ELA) funding. The request submitted by the Bank... for the approval like other ECB funding operations such as TLTROs. However, ELA can be restricted if the ECB... of whether Greece is in a programme. However, they can be used for funding through the ELA mechanism

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  8. Personal responsibility and public healthcare: Greece on a wing and a prayer
    Photo by Angelos Christofilopoulos/Fosphotos

    Agora

    in Greece, told journalists that the coronavirus was like a “heavy flu,” which was not highly infectious... under-funding of the health system, with public health expenditure at approximately 5.2 percent of GDP compared to an EU average of 7.5 percent. Funding of public hospitals fell by more than half between

    20%

  9. What are the implications of the ECB's decision for Greek banks?
    Photo by ECB via Flickr https://flic.kr/p/qhZVDy

    Economy

    for funding. Bear in mind that the funding cost through the ELA is higher (1.55 percent), 150 basis points... resort to the ELA mechanism for funding using pillar II and III bonds, GGBs and T-Bills as well.... The maximum amount of ELA funding tapped by Greek banks stood at 124 billion euros in May 2012

    20%

  10. Central gov’t debt rises to 321.3 bln in Q4, financial aid loans at new high of 220.4 bln

    Economy

    ) loans by 6.34 billion euros. Much smaller changes were recorded in special purpose and bilateral... almost 69 percent of total central government debt. On top of bilateral (52.9 billion) and EFSF... purpose and bilateral loans, including those granted by the European Investment Bank (EIB) rose

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