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Eurosystem funding for Greek banks up by 3.56 bln in May to reach 116.4 bln
EconomyMacroeconomybillion eurps almost entirely stems from a rise in the Emergency Liquidity Assistance (ELA) funding... recapitalisation process and can still be placed with the ECB for funding purposes. The increase in the ELA funding in May is similar to the increase of 3.3 billion in the ELA limit that was decided
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After 'No' vote, pulling Greek banks back from brink a priority
Economyin 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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Tsipras and Kammenos ready to call time on coalition after agreeing Friday meeting
PoliticsGreek Politicsof the official separation between SYRIZA and Independent Greeks (ANEL), paving the way for the prime minister... that the four-year alliance between SYRIZA and ANEL was due to come to a messy and acrimonious end. Tsipras... divorce so that SYRIZA and ANEL do not emerge scathed from their alliance as the next national elections
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Capital controls in Greece? A response to Professor Sinn
Agorafor 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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Eurosystem funding falls by 625 mln in Mar, banknotes in circulation rise by 120 mln
EconomyMacroeconomyin Emergency Liquidity Assistance (ELA). ECB funding in March came to 8.36 billion euros, along with 19 million in ELA funding. In January, the BoG had announced that it would discontinue the publication of its regular ELA-ceiling bulletin as the level had fallen below 2 billion euros. The total
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Tax chief's departure brings coalition revenue plans under scrutiny
PoliticsGreek Politicseuros. #Greece new unpaid taxes at €763 mln in Apr (from €1.21 bln in Mar) & at €4.33 bln year
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Budget execution shows primary surplus of 711 mln, 503 mln ahead of target
EconomyMacroeconomyperiod. This implies an average figure exceeding 1 billion per month. Although the April figure of 763
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Unpaid taxes keep rising, tax audits short of targets
EconomyMacroeconomyGreece’s unpaid taxes rose by 873 million in May at a slightly accelerating pace compared to the 763 million recorded in April, according to data provided by the General Secretariat of Information Systems. Following May’s performance, the year to date figure of new unpaid tax obligations stands
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Unpaid taxes rose by 1 bln a month in H1 2014, collection targets missed
EconomyMacroeconomyThe rate of increase in Greece’s unpaid taxes accelerated to 1.03 billion euros in June from 873 million in May and 763 million in April, according to data provided by the General Secretariat of Information Systems, which also revealed that most tax collection targets are being missed. The June
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Primary cash surplus widens to 2.85 bln in Q1
EconomyMacroeconomyGreece’s central government primary cash balance improved to 2.85 billion euros in the first quarter (Q1) of 2016 from 1.19 billion last year, Bank of Greece (BoG) figures showed on Wednesday. In March, the primary cash surplus widened by 11.1 percent to 763 million from 687 million
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