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The EU, the troika inquiry and the big disconnect
Agorathat they are not interested in democratic accountability and transparency." Its public hearings may carry... elections coming up in May as discontent and euroscepticism festers in much of the EU, it is likely... decisions are made. May’s elections could be the moment the EU realises that it can no longer afford
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Greece and troika: Bailout tranche, funding gap and debt relief still pending
PoliticsGreek Politicsredemptions to make until May 20, when 4.2 billion euros worth of bonds held by the European Central Bank... to support the Greek banking system that matures on May 21. Stournaras has suggested it could be rolled... and European Parliament elections in May. Clearly, this is a blow to New Demcoracy and PASOK who had
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Greece’s first bailout, lenders and their pledge to maintain debt exposure
EconomyProgrammefrom the International Monetary Fund’s board meeting in May 2010, which sealed the organizations...” their positions on Greek state bonds and avoid driving yields upwards. On May 7, three days before... billion dollars respectively. In May 2010 the European Central Bank introduced the Securities Markets
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Come back Cleisthenes, all is forgiven
Agora. By May, the state budget deficit was already at 14.4 billion euros, with 43 percent of the budgeted... this fiscal collapse (either in May 2009 or September 2009 – the date, but not the incident, are disputed... for the mayorship in May’s elections. Kaklamanis has dismissed Kaminis achieving a balanced budget despite seeing
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Greek coalition reaches milestones but PASOK looking increasingly weary
PoliticsGreek Politicsmeans that the coalition is also having to focus on the trouble that may lie ahead. The passing... will perform poorly in the May 25 elections, perhaps garnering as little as 5 percent and electing only one MEP. Such a poor performance may lead to Venizelos’s leadership coming under threat or split
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Bond issued for capital support of Greek banks in 2009 reaches maturity
Economycontribution in kind for the preference shares it received from the banks. The bond was issued on May 21... million on May 21, the same day the pillar bond was due to expire. Piraeus's move is facilitated... a capital increase of 2.5 billion in early May, has indicated that it plans to redeem its preference shares
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Election results in Greece lift uncertainty, for now
Agorathe substance. This may explain the paradox of the Greek equity market’s post-election performance... ago took a toll. Hence, the government may now find itself with non-coalition MPs supporting its... in the future. Coalition governments will be the way forward. Extreme polarization may “rally
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Drop in Greek retail sales accelerates to 3.4 pct in March
EconomyMacroeconomydecline. The index of retail turnover is persistently heading south YoY since May 2010. Its latest... interim sales period was launched in the first ten days of May 2014 and it would be interesting... an improvement for the third successive month in May, reaching its highest level since February 2010. The latest
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Piraeus Bank reports loss of 247 mln for Q1
EconomyBankingin Q2 so far to 9 billion in May from 18 billion at the end of 2013. Like the other three Greek banks, Piraeus eliminated ELA funding in May so its Central Bank funding currently comprises entirely... and the purchase of state preference shares (related to pillar bonds) worth 750 million on May 21, the pro-forma
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How Greek banks moved into a new era
AgoraThe core Greek banks reported first quarter (Q1) results in the last three days of May. The release... in May 2009 as state aid under the law 3723/2008. At the time, the Greek state issued a special bond (maturing on May 21, 2014), which was its contribution in kind for the preference shares
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