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Greek banks' Eurosystem funding at lowest since Jan 2010; ELA also wiped out
EconomyMacroeconomyGreek banks’ Eurosystem funding fell by 11.3 billion euros in May, the highest monthly drop since... from 3.12 billion in April. The sharp drop in May had been communicated in Greek banks’ Q1 results... billion. Overall, Greek banks’ Eurosystem funding has fallen by 22.35 billion so far in 2014 from
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Greek banks' potential capital shortfalls set to be reduced by more than 2.5 bln
EconomyGreek media reported on Tuesday that the Ministry of Finance (MoF) will soon table in Parliament a draft bill which will allow the conversion of Greek banks’ Deferred Tax Asset (DTA) into tax credit... is in line with that applied in other European countries, will allow Greek banks to fully recognize
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Greek banks may soon breathe sigh of relief on capital needs
AgoraGreek banks are always at the forefront of domestic market developments. Despite the strong rebound... indicated on Saturday, October 18 that Greek banks capital needs could reach 1.5 billion euros..., October 19 Greek Finance Minister Gikas Hardouvelis appeared quietly confident about the stress tests
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Eurosystem funding for Greek banks shoots up by 11.2 bln in December
EconomyMacroeconomyGreek banks’ Eurosystem funding shot up by 11.19 billion to 56.04 billion euros at the end... to an extraordinary issue, which were almost fully covered by Greek banks, whilst their participation in previous... of December. However, Kathimerini daily revealed on Friday that two Greek banks (Alpha and Eurobank
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The immediate economic and financial hurdles for the new Greek government
EconomyProgrammeThe new Greek government has several thorny economic issues to address in its first days in office... tool. Additional T-Bill issues would be probably primarily or solely covered by Greek banks, since foreign investors refrain from such an investment since December. This also implies that Greek banks
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Greece must tackle foreign bribery by Greek firms, OECD says
Societythat the Greek authorities are currently investigating seven foreign bribery cases involving Greek companies, it noted that “one case was closed without a thorough investigation”. That case relates to a Greek... decision that required it to pay the company $98.1 million. The Greek national’s two business partners were
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Greek banks’ loan quality is deteriorating
Economythe announcement of the Greek banks’ 2014 financial results was the deterioration of the quality of their Greek... of 2014. Greek banks’ NPLs rose by 3.1 billion within 2014, reaching 83 billion at the end... percent in 2014, with the Greek ratio standing at 35.4 percent. At the same time, gross loans fell
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Eurosystem funding for Greek banks up by 5.6 bln in Apr, reaches 112.8 bln
EconomyMacroeconomyAs expected, Greek banks’ Eurosystem funding rose at a rising pace by 5.66 billion euros in April... for Greek banks on a weekly basis (from bi-weekly before). The cap has been revised upwardly twice... that Greek banks’ dependency on ELA has further increased by more than 2 billion to 76.5 billion
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Greek SMEs face biggest obstacles to finance in euro area, ECB finds
EconomyMacroeconomyin March 2015 reaffirmed that Greek SMEs continue to face the most significant obstacle among... on both fronts Greek SMEs, with turnover dropping by 18 percent and profits slumping by 46 percent. Both rates are the worst among the euro area countries. Greek SMEs topped the list for those
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As Greek deadline looms, this is how the next days could play out
EconomyProgrammeThe Greek Prime Minister Alexis Tsipras meets with the European Commission President Jean Claude... that are related to the implementation of the Greek measures. These would have to be voted firstly by the Greek..., probably after the voting of the prior actions by the Greek Parliament. It is not clear whether
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