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PMI falls to 46.9 pts in June in ten straight months of contraction
EconomyMacroeconomydisplayed an increase on the average purchase prices mostly reflecting higher raw material prices... rate over the past two years. At the same time a marked increase was evident in suppliers’ delivery... materials and semi-finished goods. The reduction of stock purchases was in line with lower requirements
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What higher ECB haircuts on collateral could mean for Greek banks' liquidity
Economythe 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. On Wednesday, ECB raised the ELA limit for Greek banks by 1.5 billion to 75.5 billion. In addition, the ELA
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How Greek banks can balance on the collateral tightrope
Agora(ELA) funding. Based on the latest official BoG figures, Greek banks used ELA funding of 74.4 billion... decided on May 12 to lift the ELA cap for Greek banks by 1.1 billion to 80 billion. Banking sources indicated that the ELA cash liquidity buffer stood at 3.5 billion euros, implying that banks have
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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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Small rise for Greek manufacturing PMI in November
EconomyMacroeconomyin a row on the back of higher raw material costs. Markit analysts described November as “another...-production inventories. Weakening demand for materials and semi-manufactured goods led to a decrease in the suppliers’ time to deliver purchased items for yet another month in November
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General gov't primary cash surplus markedly better in July but arrears climb
EconomyMacroeconomyand in Emergency Liquidity Assistance (ELA) bank guarantees by around 11 billion. Since the beginning of the year... by 65.7 billion is primarily attributed to ELA bank guarantees to 56.08 billion from zero last December... million corresponding to more than 13 percent of total arrears. Arrears due to hospitals’ suppliers also
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General gov't primary cash surplus widens to 2.6 bln in Aug, arrears up by 2.15 bln
EconomyMacroeconomybillion MoM in August mostly reflecting a drop in the Emergency Liquidity Assistance (ELA) bank... to bank support guarantees of 54.5 billion (from 43.2 billion in December) and ELA guarantees of 54.... Arrears due to hospital suppliers also recorded a marked rise by 572 million YtD to 1.18 billion
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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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Income and living conditions survey shows persisting inequality
Societylight on the economic conditions experienced by Greeks in the reference year 2016, including material deprivation, income inequality and risk of poverty. The data released showed that material deprivation stands at 21.1 percent, with reference data from 2016. According to the findings, material
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