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Eurosystem funding drops by another 4.3 bln in July, largely on reduced ELA reliance
EconomyMacroeconomyGreek banks’ Eurosystem funding continued heading south for the thirteenth month in a row in July... that the remarkable decrease in the previous month largely reflected the switch of Greek government... of the reinstatement by the ECB of the waiver on Greek government securities. In addition, increased interbank repos
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Government distances itself from ELSTAT case as European Commission wades in
PoliticsGreek Politicsit is absolutely clear that data on Greek Government debt during 2010-2015 have been fully reliable... the Greek government into taking a stance on the issue. "It is necessary to get the record straight... to the judiciary to help clear up the allegations against Georgiou. The Greek government was also quick
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Deposit flow turns negative, outflows of 153 mln in July
EconomyMacroeconomyDeposit outflows of 153 million were recorded in the Greek banking market after inflows of 1.07... that following the July inflows, gg deposits held at Greek banks climbed to 10.57 billion at the end of July..., Greek banks’ dependence on Eurosystem funding further dropped by 4.3 billion in July reflecting
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Determined talk from Tsipras as negotiations with lenders move closer
PoliticsGreek Politicslanguage, Tsipras said his coalition is “demanding” measures that will make Greek debt sustainable... as long as the Greek side continues to implement the programme. Tsipras said that debt relief... a return to the subject, which the Greek government had not discussed in any great detail since
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Athens briefed as talks on Cyprus reunification intensify
PoliticsForeign Policy, the Turkish-Cypriot and the Greek-Cypriot side.” Eide discussed two crucial issues in Athens: The two..., on the sidelines of the UN General Assembly at the end of the month. According to Greek diplomatic... with Tsipras and Kotzias. The Greek foreign minister outlined the Greek positions on both issues, which made
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September drop of 3.1 bln is 15th straight month of decline in Eurosystem funding
EconomyMacroeconomyGreek banks’ Eurosystem funding fell by another 3.15 billion euros in September after a drop... has been posted since June in the wake of reinstatement of waiver on Greek government securities, lower haircut applied on ELA collateral and participation of Greek banks’ EFSF holdings in the ECB’s
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The Cyprus conundrum
Agoraof the Cyprus issue. For the Greek Cypriots, the Cyprus problem was caused by Turkey’s military intervention... Republic of Cyprus. In that sense, the position of the Greek government to abolish this system of guarantees is, to a certain extent, understandable. If the Greek government, however, insists on its
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IMF sets out its stall as review deliberations resume in Athens
EconomyProgramme, the IMF sent a very strong message regarding the Greek programme on Monday evening. In a blog post... been largely reduced. Instead of addressing effectively both (tax and pension) issues, the Greek..., noting that regardless of the amount of structural reforms, Greek debt cannot become sustainable
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Greeks deeply affected by crisis and least satisfied with life, EBRD study finds
SocietyThe overwhelming majority of Greek households report that they were affected by the economic crisis... of the bank’s Life in Transition survey, said that 92 per cent of Greek households claim to have been... of Greek respondents, respectively, believe that the economic and political situation
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Schaeuble presents Athens with stark reality of programme without IMF
PoliticsGreek PoliticsThe Greek government was still pondering the implications of Wolfgang Schaeuble’s comments... the implications of the IMF’s absence from the Greek programme could mean. In an interview with the Wall Street Journal published on Monday, Schaeuble returned to the subject and left the Greek government
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