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  1. Greek-Turkish tensions resurface as Russia chimes in
    Photo by MacroPolis

    PoliticsForeign Policy

    routine bilateral contacts, including confidence‑building measures. One of the issues that caused tension..., the international law of the sea and the bilateral agreements concluded by our country. Where there has been no bilateral delimitation of the exclusive economic zone, the outermost potential limits

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  2. Greece and Turkey search for way forward as leaders prepare for rare meeting
    Image: https://www.primeminister.gr/

    PoliticsForeign Policy

    on “the possibilities of further cooperation.” The two governments will exchange views “on bilateral relations... documents aimed at strengthening bilateral relations.” Despite both leaders appearing determined... bilateral trade, and renewing the visa-express scheme for Turkish citizens visiting 12 Greek islands

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  3. Greek banks' Eurosystem funding sees reduced drop of 334 mln in July

    EconomyMacroeconomy

    billion euros. The Emergency Liquidity Assistance (ELA) funding rose by 0.91 million to 1.55 million... this year was the elimination of ELA funding in May. It has remained below 4 million euros since... to the ELA mechanism were eliminated to zero in June from 9.8 billion in December 2013.

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  4. Greek banks see Eurosystem funding drop to lowest level since 2009 in September

    EconomyMacroeconomy

    is the lowest reading since November 2009. Since May, when the Emergency Liquidity Assistance (ELA... billion at the end of August. There as a small rise in ELA funding to 1.64 million from 0.63 million..., reflecting a reduction in ECB funding by 20.66 billion and ELA funding by 9.79 billion. The significant

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  5. Funding needs take centre stage in row between New Democracy and SYRIZA

    Economy

    , Greek banks could resort to the Emergency Liquidity Assistance (ELA) mechanism of Bank of Greece (BoG) to address this liquidity issue. Greek banks used the ELA facility heavily in 2012 with a peak... eliminated ELA funding. In addition, it is already widely known that the largest part of Greek banks’ ECB

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  6. Pressing economic tasks mounting up for next Greek government

    EconomyProgramme

    funding with a cash value of 20 billion would not be ECB-eligible as of March. ELA for banks Three... to Emergency Liquidity Assistance (ELA) funding. The BoG in turn requested approval from the ECB... with access to ELA funding, albeit at a higher cost of 1.55 percent as against the 0.05 percent

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  7. In effort to reach new deal, Greek government cannot ignore liquidity constraints
    Photo by MacroPolis

    EconomyProgramme

    of Emergency Liquidity Assistance (ELA) funding to Greek banks. The initial approval was granted on January 21... not applied for the ELA. That request was mainly triggered by deposit outflows and gradual lack of renewal... with the BoG ELA, albeit at a higher cost of 1.55 percent compared to 0.05 percent for the ECB. T

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  8. S&P acts in wake of ECB decision and downgrades Greek rating to B-

    Economy

    to lender-of-last-resort financing (ELA), potentially resulting to Greece’s exclusion from... to switch their ECB funding to ELA, although the continuity of ELA funding to Greek banks, including

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  9. Greece's imminent funding problems: All the numbers you need
    Photo by MacroPolis

    EconomyProgramme

    of February 18, when the last ELA extension was approved by the ECB. Note that Greek banks may place T-Bills for ELA funding (as they could with the ECB before February 11) for an amount up to 3.5... of 3.5 billion on T-Bills that Greek banks may place with ELA funding. At the moment there is nothing

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  10. Reported widening of revenue shortfall in Feb as liquidity worries persist

    Economy

    . On a separate issue, Kathimerini daily reported that the untapped ELA funding of Greek banks, which... to increase the ELA limit by 500 million to 68.8 billion. Deposit outflows have ceased since the February 20 Eurogroup decision, which means that Greek banks have an ELA liquidity buffer of 3 billion

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