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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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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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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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How the pension fund that invested heavily in Attica Bank lost half its reserves
Agorafindings on the asset allocation as well as on the devastating impact on its reserves from the nosedive..., mutual fund and bond portfolio holdings. This means that a considerable part of its reserves has
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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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PDMA sets 2020 goals to build on improving conditions for debt
EconomyGreece’s Public Debt Management Agency (PDMA) issued on Tuesday its funding strategy for 2020 after... have a ceiling on GGB holdings. The yields on Greece’s debt have dropped significantly throughout... billion euros. The PDMA outlines four main objectives in next year’s funding policy: 1) Enhance
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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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The refugee crisis and the beast within
AgoraAs symbols go, the imaginary pig’s head in William Golding’s Lord of the Flies requires little explanation. Its meaning is summed up in one line of the unnerving classic. “Fancy thinking the beast was something you could hunt and kill!” says the fly-infested head. “You knew, didn’t you? I’m part
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