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Athens sees many benefits in renewal of defence cooperation with Washington
PoliticsForeign Policy-by-step bilateral progress by diplomats and successive governments of both countries, diplomatic... bilateral agreement with clear references to sovereign rights and sovereignty. Foreign Minister Dendias... Partnership defensive agreement with France, our country is adding another link to the chain of its bilateral
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North Macedonia's new president triggers diplomatic row with Greece on her first day
PoliticsForeign PolicyForeign Ministry issued a statement and warned Skopje about possible dangers in both bilateral relations..., Greece categorically states that further progress in its bilateral relations with North Macedonia... the Greek government to react “both at a bilateral and at an international level”. But what happened
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Alpha Bank reports lower losses of 115.8 mln in Q1 2015
EconomyBankingto higher Emergency Liquidity Assistance (ELA) funding cost that burdened NII by 33 million...-February). Total ELA funding cost stands at 200 basis points (bps) compared to just 5 bps for ECB funding.... The breakdown of the latter shows that ELA funding reached 20.6 billion euros and ECB funding 4.8
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Newsletter 104 - 27/01/2017
a decrease in emergency liquidity assistance (ELA) funding by 1.37 billion. Greek banks’ Eurosystem funding... liquidity assistance (ELA) funding by 1.37 billion, coupled with a smaller reduction in ECB funding by around 500 million. Almost half of the cumulative drop of 43.1 billion in ELA funding since its
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Tsipras faces challenges ahead on multiple foreign policy fronts
PoliticsForeign Policyof the agreement with Albania to resolve bilateral issues remains pending, while bilateral relations.... The enhancement of bilateral relations, though, was a government policy with Tsipras's blessings, who has... to the States. So, no substantial change is expected here; but the bilateral strategic dialogue
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Deposit outflow slows to 2.19 bln in Mar as balances slip to lowest in 10 yrs
EconomyMacroeconomyto ELA funding and the remaining 36 percent (38.67 billion) to ECB funding almost entirely comprised by EFSF bonds. The ECB raised on Wednesday the ELA limit for Greek banks by an additional 1.4 billion euros to 76.9 billion. By the end of March 68.51 billion of ELA had been used so the new limit
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Cyprus in 2014: Looking ahead
AgoraEmergency Liquidity Assistance (ELA) due to the decision to sell the assets of all Cypriot banks... for ELA that Laiki provided to its branches in Greece, leading to a precarious liquidity situation... allows for the ELA to be replaced by more long-term finance; however there seems to be a lack
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Greece's extension proposals to the Eurogroup and what they mean
PoliticsGreek PoliticsLiquidity Assistance (ELA) mechanism of the Bank of Greece (BoG) for funding. However, the provision of ELA funding is approved by the ECB twice a month for a 2-week period, while ELA could..., following an March 2013 decision. This means that Greek banks will continue depending on ELA for funding
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Piraeus Bank brings Q1 2015 losses down to 69 mln
EconomyBanking, mostly due to EFSF bonds of 14.4 billion and ELA funding of 18.1 billion. The latter is almost equally... Emergency Liquidity Assistance (ELA) cost partly offset by the positive impact from the time deposit... ELA cost burdened Q1 NII for two months, thus its impact on Q2 is seen at higher levels. Operating
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Greek banks' liquidity position at the centre of attention
Economyare insolvent or pulls the Emergency Liquidity Assistance (ELA). The Finance Ministry (MoF) issued... the ELA limit for Greek banks and further postpone any decision for an increase in the haircut applied on ELA collaterals. Our analysis showed that under the current collateral valuation and haircut
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