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  1. The immediate economic and financial hurdles for the new Greek government
    Photo by MacroPolis

    EconomyProgramme

    funding tool for Greek banks would be the use of Emergency Liquidity Assistance (ELA) funding. Greek banks would also resort to ELA to replace cash value of ECB funding of more than 20 billion, which

    6%

  2. After rocky start, some political backing for SYRIZA but ECB holds key
    Photo by Kiefer via Flickr https://flic.kr/p/q2j8Dt

    PoliticsGreek Politics

    have turned to the ECB’s Emergency Liquidity Assistance (ELA) for funding. The ECB’s governing council reviews ELA every two weeks and could also choose to stop this form of liquidity if Greece

    6%

  3. Greek gg primary cash surplus at 2.2 bln in 2014, arrears down to 3.75 bln

    EconomyMacroeconomy

    by 5.6 billion euros to 43.16 billion. 2) The elimination of the Emergency Liquidity Assistance (ELA... Greek banks’ zero reliance on ELA funding as of May. However, this figure is expected to rise again

    6%

  4. Greek deposits nosedive by 12.8 bln in Jan as balances reach lowest point since Aug 2005
    Photo by MacroPolis

    EconomyMacroeconomy

    were forced to switch a large part of ECB funding to the Emergency Liquidity Assistance (ELA) scheme... as well as securitizations and covered bonds with ELA through the Bank of Greece. Note though that ECB

    6%

  5. General gov't primary surplus shrinks to 419 mln in January

    EconomyMacroeconomy

    (ELA) bank guarantees. Both movements reflect the tight liquidity conditions of Greek banks... billion at the end of January, while ELA bank guarantees reached 5.8 billion from zero since June 2014

    6%

  6. General gov't cash surplus sees large contraction in Jan-Feb, arrears edge up

    EconomyMacroeconomy

    a rise in the Emergency Liquidity Assistance (ELA) bank guarantees by 16.57 billion and a decline... guarantees stood at 47 billion wueos, while ELA bank guarantees reached 22.37 billion. Overall, bank

    6%

  7. General gov't primary surplus halves in Q1, arrears and guarantees jump

    EconomyMacroeconomy

    stems the Emergency Liquidity Assistance (ELA) bank guarantees which climbed from zero in December.... Only in March, ELA guarantees jumped by more than 46 billion, while bank support scheme guarantees

    6%

  8. Greek stock market loses 1.8 pct in week of mixed messages, Q1 results

    Economy

    to keep the ELA limit for Greek banks unchanged. The Athens Stock Exchange's general index landed... on Greek banks’ ELA limit and collateral haircut.

    6%

  9. Sharp drop in gg primary surplus by end-April, arrears keep rising
    Photo by MacroPolis

    EconomyMacroeconomy

    (ELA) bank support guarantees. Since the beginning of the year, gg guarantees rose by 74.37 billion from the end-2014 figure of 60 billion. The YtD change is entirely attributed to a jump in ELA

    6%

  10. Greece and lenders talk at cross purposes, head for crisis summit
    Photo by EU Council Eurozone https://flic.kr/p/dUgXKJ

    PoliticsGreek Politics

    an increase in the ELA cap by 1.1 billion but reports suggested that around 1 billion euros was withdrawn... published in late May, Greek banks held collateral that could provide them with an additional ELA

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