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  1. Q2 GDP contraction at 0.3 pct, strong Q3 needed to achieve target of annual growth
    Photo by MacroPolis

    EconomyMacroeconomy

    of Greece (BoG) H1 data, non-residents’ direct investment in Greece showed a net inflow of 936 million... to tourism. The aggregate figures provided by the BoG on travel receipts for the first half of the year... is also anticipated by the BoG and rating agencies, while OECD expects a mild recession at 0.3 percent

    4%

  2. Loan rates rebounded in July, deposit rates continued heading south
    Photo by MacroPolis

    EconomyMacroeconomy

    percent in July, according to the Bank of Greece (BoG). The year to date drop stands at 54 bps... the average loan rate increasing by 18 bps to 5.36 percent. It is noteworthy that the BoG revised... is now the third lowest historical reading. The BoG had noted in the previous release that since June

    4%

  3. Greek GDP up 0.7 pct in Q3 for third straight quarter of growth
    Photo by MacroPolis

    EconomyMacroeconomy

    plunged by two thirds with their current contribution to GDP at just 11 percent. Bank of Greece (BoG) data... of 1.2 billion euros. In addition, under the portfolio investment, BoG figures displayed a net... to BoG latest data. Total imports fell 2.5 percent QoQ in Q3 for the first time since Q4 2013

    4%

  4. Piraeus Bank seals milestone deal with KKR over 1.2 bln of non-core assets
    Photo by MacroPolis

    EconomyBanking

    (BoG) reiterated in its interim Monetary Policy report that the key challenge and immediate priority...) higher than the market ratio of 34.1 percent in Q2, according to BoG. Non-performing loans... BoG study showed that corporate NPLs (for loan amounts above 1 million euros) are concentrated

    4%

  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... in January. BoG issued a press release on Sunday stressing that “the situation is under absolute control” adding that the “BoG and the ECB are closely monitoring developments and interfere whenever

    4%

  6. Eurosystem funding for Greek banks shoots up by 11.2 bln in December

    EconomyMacroeconomy

    of December from 44.85 billion at the end of November, according to the Bank of Greece's (BoG) annual...) submitted requests to BoG for resorting to the ELA mechanism for an amount of 5 billion euros. Local... at the end of November. ELA was initially launched by BoG in August 2011 as a last resort funding

    4%

  7. Greek current account deficit widens by 32.4 pct in November despite services surplus
    Photo by MacroPolis

    EconomyMacroeconomy

    year, according to the Bank of Greece (BoG). The higher C/A deficit is mainly attributed to a negative.... BoG is due to release the updated figures for the 11-month period tomorrow. The breakdown... a net outflow of 515 million. Under the portfolio investment, BoG figures show a net outflow of 2.5

    4%

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

    EconomyProgramme

    for a two-week period following a request by the Bank of Greece (BoG). The request involved the four...’ financial statements. According to the BoG, withdrawals from the Greek banking system reached 4.2... with the BoG ELA, albeit at a higher cost of 1.55 percent compared to 0.05 percent for the ECB. T

    4%

  9. What are the implications of the ECB's decision for Greek banks?
    Photo by ECB via Flickr https://flic.kr/p/qhZVDy

    Economy

    (BoG) and the Emergency Liquidity Assistance (ELA) mechanism. Reaction in Athens The Greek Finance... capitalized and fully protected via the ELA” The numbers According to the latest official BoG data, Greek... deposit rate in Greece, which stood at 1.82 percent in January, according to BoG. ELA Greek banks can

    4%

  10. Newsletter 15 - 13/02/2015

    Newsletters

    can still be placed with the Bank of Greece (BoG), while the 38 billion of EFSF bonds via ECB funding further increases their liquidity capacity potential. Bear in mind that while the BoG normally... will be published in early March after the BoG’s annual general meeting, due at the end of February

    4%