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Greece braces for deeper Covid-19 impact on economy, budget and public debt
Economyto be extended into May, and highly likely June. The authorities’ reported estimates for funding needs... that were granted by the ESM to cover funding needs and are ring-fenced for this purpose. Greece needs... to secure funding. An initial assessment at of the decisions taken at last Thursday’s Eurogroup
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NBG results show net profits of 409 mln euros on strong trading income in Q1
EconomyBankingbillion in 2019, but also bond portfolio sales of previous quarters, as well as higher funding costs... of 100 bps. Eurosystem funding rose to 5 billion euros at the time of reporting from 3.4 billion... coverage ratio and net stable funding ratio exceeded 100 percent and exceeded regulatory thresholds
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Amid crowding concerns, officials reject idea of return to full lockdown
PoliticsGreek Politicsasked as to the funds’ recipients and purpose. Challenged to explain the allocation of the funding...”, and is calling for Petsas to release full details of the funding, and resign. Allegations of misuse... pundits accusing the government of using emergency powers as a cover to direct funding towards friendly
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EU deal appears promising for Greece, but success rides on efficient use of funds
PoliticsGreek Politicswas a reduction in funding for some EU programmes, such as the Horizon Europe scheme for research... is in the proposal and what projects Greece might propose for funding. All national plans will have to focus... Democracy will seek funding for. There is no doubt that Mitsotakis is correct in calling the total
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BoG sees 7.5 pct recession, EU funds boosting GDP by 1.9 pct annually
Economythe Next Generation EU funding and reiterated his view that another systemic solution is needed to help... highlighted the significance of EU funding over the next six years, when Greece will be eligible for 30.2... investments. BoG estimates the GDP impact of the EU funding in the 2021-2026 period at 1.9 pct annually
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Piraeus Bank posts pre-tax losses of 133 mln in 9M
EconomyBanking. Management said that this was mainly due to improving funding costs and increased fixed income holdings... Eurosystem funding increased to 9 billion euros as at the end of Q3, from 400 million euros at the end...) funding. Utilisation of the interbank repo market came to roughly 100 million euros at the end
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NBG results show net profits of 602 mln euros in 9M
EconomyBankingof the performing loan book, as well as by the funding benefits from the increased TLTRO exposure..., the underlying CoR came to 99 bps. Eurosystem funding amounted to 10.5 billion in Q3, unchanged QoQ... the ECB, the bank’s blended funding cost is currently at 12 bps. LCR and NSFR are kept at levels
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NBG posts net loss of 423 mln in Q4; profit of 38 mln in 2020
EconomyBankingbillion euros YoY to 47 billion, comprising about 80 percent of the bank’s total funding sources. NBG’s..., with net repo exposure amounting to around 300 million euros. The significantly lower funding terms under... to a improvement of the bank’s blended funding cost to nearly zero Q4 (7bps), compared with 41bps
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Stock taking: Where is the Greek economy now?
Agoraof the largest recipients of this new funding facility, with over 30 billion euros in potential grants... of funding away from the public sector to the (private) capitalized systems. This creates an important..., and up into the first quarter of 2020, the interest rates on Greek funding dropped considerably
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Rising bond yields a concern, but not an immediate fiscal problem
Economythe most favourable funding conditions in its history. In 2021, Greece completed seven international.... Funding costs were at historic lows, with the 5-year reopening in last September reaching as low as 0.02... to the funding costs. The primary concern about Greece’s debt sustainability has always been how
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