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Piraeus Bank posts net profit of 24 mln in Q2, ELA funding fully eliminated
EconomyBankingto 1.8 billion at the end of Q2. Emergency Liquidity Assistance (ELA) funding dropped to around 300... quarterly for almost two years now. ELA funding was eliminated despite the ECB waiver for Greek bonds
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Alpha Bank posts net profits of 27.5 mln in Q1, ELA eliminated
EconomyBankingLiquidity Assistance (ELA) reliance fully eliminated as of February 2019. During the quarter, greater use... that the bank had concentrated on several milestones including exiting the ELA, increasing the deposit
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Newsletter 88 - 16/09/2016
liquidity assistance (ELA) and ECB funding, which fell by 2.55 and 1.83 billion, respectively. Market... billion. Three-quarters of this decline stems from lower dependence on ELA and the remaining quarter... level since December 2014. The decline in August is mostly due to a decrease in ELA funding, which
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Greece and Turkey head towards crucial stage of negotiations
PoliticsForeign Policy, infrastructure, transport, energy and bilateral cooperation to deal with climate change and natural... foreign ministers, Costas Fragkogiannis and his then counterpart, Burak Akçapar. In that meeting
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Greece and Turkey launch latest round of talks, building up to Ankara visit by Mitsotakis
PoliticsForeign PolicyMitsotakis and Turkey’s president Recep Tayyip Erdogan. Talks are expected to focus on bilateral...Monday’s meeting in Ankara between Deputy Foreign Minister Alexandra Papadopoulou and her Turkish counterpart Burak Akçapar signals the beginning of a new round of talks between Greece and Turkey
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Newsletter 34 - 10/07/2015
liquidity assistance (ELA) limit is seen sufficient to cover liquidity needs until July 13. There have... in the same period last year. This translates into a net drop in retail sales by 305 million over
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Greece steps up effort to bolster relations with Iran
PoliticsForeign PolicyGreece’s bilateral relations with Iran as well as to prepare the ground for the visit of Prime Minister... Additionally, Greece could only benefit from an enhancement of its bilateral relations with Iran... and that they could help enhance bilateral cooperation in many sectors, if sanctions by the West against
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Government in firefighting mode as opposition seizes on sleaze and shortages
PoliticsGreek Politics. The latest reports suggested that the UK side had proposed a bilateral deal that would see..., the suggestion that the government was engaging in negotiations over a loan was controversial... an explanation, accusing the government of engaging in shadow diplomacy against the national
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Newsletter 20 - 20/03/2015
assistance (ELA) funding. According to the central Bank of Greece (BoG), Greek banks’ ELA funding reached 65.6 billion euros at the end of February, up from zero at the end of 2014. The interest cost of ELA is 150 basis points (bps) above that of ECB funding. On the current level of ELA funding
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What the ECB did next - a tale from another crisis
Agoraon Emergency Liquidity Assistance (ELA) to the Greek banking sector created an arguably inevitable... this route however and pressured Greece, Ireland, and Portugal each to seek bilateral rescue loans... to be satisfied through the relevant national central bank, by means of ELA. Greek banks therefore could
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