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  1. Tsipras keeps IMF waiting, turns focus to MPs and opposition
    Photo by MacroPolis

    PoliticsGreek Politics

    Alexis Tsipras is due to speak in Greek Parliament at 6.30 p.m. local time on Friday in one... impact of the proposals being discussed this week. Even the package of reforms proposed by the Greek... on the proposals made by the Greek government and lenders. His hope will be that the opposition

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  2. Tsipras gives air of resistance but leaves door ajar for agreement

    PoliticsGreek Politics

    Greek Prime Minister Alexis Tsipras is due to address SYRIZA MPs on Tuesday afternoon, with no sign... of the statement (which was published in Greek first) suggests that it was aimed at the domestic... that the Greek government is willing to edge closer to lenders’ demands in an effort to secure a deal, despite

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  3. Deposit outflows eased to 3.86 bln in May, balance below 130 bln

    EconomyMacroeconomy

    Greek private sector deposit outflows eased to 3.86 billion in May from 4.66 billion in Apr... billion since December coupled with ECB decision to lift the waiver on Greek government securities as of February 11 (previously used for ECB funding purposes) resulted in a sharp increase of Greek

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  4. Greece submits proposals to lenders in hope of paving way for agreement

    EconomyProgramme

    The Greek government sent to the institutions on Thursday evening its final proposal including... Mechanism (ESM). In the 20-page document submitted to the Greek Parliament, the government revealed... adjusted for the impact of capital controls on the Greek economy. We outline below the government’s

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  5. S&P raises Greece’s rating by two notches in first upgrade since Sept 2014

    Economy

    the ceiling in Emergency Liquidity Assistance (ELA) to Greek banks As a result, S&P believes Greece.... S&P continues to project Greek GDP will contract by 3 percent in 2015, which is the worst... harmed exports, including tourism. In addition, since Greek economy is more cash-based the bank holiday

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  6. June deposit outflow rises to 7.58 bln as total balance drops to lowest in 12 years

    EconomyMacroeconomy

    Greek private sector deposit outflows accelerated to 7.58 billion euros in June from 3.86 billion... seven months. On top of the private sector outflows of 7.78 billion, Greek banks also suffered... in Greek banks’ Eurosystem funding by 10.17 billion in the same month. More than 90 percent

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  7. Drop in corporate loan rates led the average loan rate at a new historic low
    Photo by MacroPolis

    EconomyMacroeconomy

    Greek households’ new time deposit rate remained at 1.81 percent in June unchanged from.... At that time more than 15 banks were operating in the Greek banking market. After a series of M&A activity that resulted to a consolidation in the sector, there are now four core Greek banks

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  8. ELA funding down by 1.48 bln in July for first monthly drop since May 2014
    Photos by Dennis Skley via Flickr https://flic.kr/p/qcppmH

    EconomyMacroeconomy

    Greek banks’ Eurosystem funding fell by 1.29 billion euros in July after rising by 10.17 billion... zero at the end of December. The ECB had kept the ELA limit for Greek banks stable until mid-July... period was also taken on August 5, meaning that the deposit flow in the Greek banking market is perceived

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  9. Piraeus Q3 trading update shows significant acceleration in NPL formation
    Photo by MacroPolis

    EconomyBanking

    to 356 million euros in Q3 from 111 million in Q2. This was primarily led by the Greek operations... on quarter (QoQ) to 38.1 billion in Q3 from 38.8 billion in Q2 with Greek deposits down 0.6 percent... with gross loans contracting 1.1 percent QoQ to 68.9 billion euros, whilst the Greek figure recorded

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  10. Greece gets tranche and looks ahead to next tasks, including pensions and NPLs

    EconomyProgramme

    by the Greek government and stressed that the focus has now turned to the next stages of the ESM programme. It called on the Greek authorities to accelerate the pace of its work with institutions... on to the second set of measures, while also called on the Greek authorities to tackle the remaining

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