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Deposit inflows of 1.07 bln in June, highest in first half of 2016
EconomyMacroeconomy. Meanwhile, the reliance of Greek banks on Eurosystem funding notably dropped by 8.57 billion euros to 87.14 billion in June, reflecting of a sharp fall in ELA funding by 10.44 billion, while ECB funding rose by 1.87 billion. The reduced central bank funding in June mainly results from
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Check, please: How much Alexis Tsipras's first months cost Greece
Agorabillion euros, or a quarter of Greece’s economy. At the end of 2013, the value of the holdings... to a significant funding and liquidity squeeze for his government. The Finance Ministry had to postpone or delay a large part of non-payroll costs from March 2015 to cover its imminent external funding
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PM prepares to finalise relief package as talk of electoral tweak gathers pace
PoliticsGreek Politicsfront, the initial idea of abolishing the so-called “personal difference” and folding it into core
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Varoufakis outlines contours of debt deal as haircut set aside
PoliticsGreek Politicsare not part of the intended official debt restructuring. ECB holdings The ECB holds 25-27 billion euros... will be a landmark moment as these bonds cannot be covered by other funding sources such as extraordinary... on its Greek government bond holdings. Instead, Varoufakis says Greece would request only the 1.9
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Alpha Bank enters agreement with Davidson Kempner for 10.8 bln Galaxy securitisation
EconomyBankingsecuritisation. The deal will see Davidson Kempner acquire an 80 percent stake in Cepal Holdings, Alpha... long-term funding facility of up to 120 million euros, which Davidson Kempner can draw from at its... will be run by the same executives as Cepal Holdings, for the management of its existing retail
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Greek banks push for return to normality
EconomyBankingwas based on the expectation of an improvement in the funding and asset risk of the banks over the next... of Emergency Liquidity Assistance (ELA). As of July, BoG noted that Greek banks’ Eurosystem funding declined by 3.29 billion month-on-month. July’s reduction brought the total for central bank funding to 13.02
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PMI dips to 49.4 points in February as cost burdens pile up
EconomyMacroeconomycontributed to a further decline in inventories, as firms used current holdings to supplement... commented on the latest findings, saying that “Greek manufacturers signalled a renewed decline
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PMI rises to 51.8 points in March, first expansion in over a year
EconomyMacroeconomyas firms struggled to replenish holdings of inputs and finished goods due to delivery delays. Markit analysts commented on the latest findings, saying that while operating conditions improved for the first
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Greek leaders' contrasting visions all a blur
AgoraMinistry claimed that a shortfall of 25 billion euros would be created as workers would stop funding... to the amount of state funding municipalities currently receive. Under his scheme, the local... they lacked, while fending off the advances of the few. Mitsotakis pledges The vision presented
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ESM board to specify rules on short-term debt relief measures
EconomyProgrammeinclude the pricing and funding of those measures ensuring that the related costs will only burden... on Wednesday the exchange of its EFSF/ESM bond holdings worth 14.5 billion, while the BoDs of the other... arrangements to stabilise the cost of funding for Greece and at the same time to reduce the risk
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