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  1. Retail sales nosedive by 8.7 pct in July amid capital controls

    EconomyMacroeconomy

    The turnover of Greece’s retail trade index fell sharply by 8.7 percent in July, after a 1.7 percent drop in June, the Hellenic Statistical Agency (ELSTAT) said on Wednesday. The July rate is the highest negative reading over the last two years and is largely attributed to the imposition of capital

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  2. Moscovici tries to kill discussion of primary surplus targets as easing of capital controls cleared
    Photo by EU Council via Flickr https://flic.kr/p/q4fbAG

    EconomyProgramme

    of capital controls, which was flagged up by the Bank of Greece governor Yannis Stournaras in a speech

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  3. Capital controls trigger big rise in card use and VAT revenues, Bank of Greece data shows

    EconomyMacroeconomy

    The significant increase in the use of debit and credit cards after the imposition of capital controls in July 2015 is having a positive impact on VAT revenues by improving collectability, the Bank of Greece (BoG) concludes in its interim monetary policy report published last Friday. In contrast

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  4. Govt calls on local businesses and banks to free up capital for investment
    Photo by MacroPolis

    PoliticsGreek Politics

    evidence that it can back up its claim of making the country more attractive for foreign capital

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  5. Greek banks' equity raising could keep official support to a minimum

    Economy

    Following the disclosure of Greek banks’ capital shortfall by the ECB’s Single Supervisory Mechanism (SSM) on October 31, Greek banks submitted their capital action plans to the SSM last week to cover the emerging capital needs. The capital shortfall resulted from a comprehensive assessment

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  6. Greek banks complete book building: A recap of where we stand

    Economy

    participation has been completed. Alpha and Eurobank covered their total capital needs without any state aid, while NBG and Piraeus covered their capital shortfall under the baseline stress test scenario and will seek official support to cover their capital hole under the adverse scenario. Assuming that NBG

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  7. Final structure of bank recap taking shape, cautious optimism for outcome
    Photo by MacroPolis

    Economy

    to announce the Greek banks’ capital needs on October 30–31, the draft bill on bank recapitalisation... a baseline and adverse scenario, to determine the capital needs of the Greek banks. According to the most rumoured scenario in the market, private investors would have to cover at least the capital needs

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  8. Newsletter 51 - 12/11/2015

    Newsletters

    Banks move on capital needs International institutional book-building process underway Greek banks... to boost their capital by around 6.3 billion euros. For all of the banks, this is the key element in covering their total capital needs of 14.4 billion. At the same time, the banks announced the results

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  9. After Q3 results, what next for Greek banks?

    Agora

    diagnostic and potential additional capital needs. They also sidestepped the issue of the potential lifting... at the high-end of 13.5 percent (implying a capital buffer of 2.4-2.65 billion above the 9 percent threshold), National at 9.4 percent (moderate capital buffer of 200 million) and Eurobank at the low

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  10. Newsletter 50 - 06/11/2015

    Newsletters

    Bank capital needs identified Private investor participation to determine final amount of state aid... the capital needs of Greek banks at 4.4 billion euros under the baseline and 14.4 billion under the adverse stress test scenarios. However, the capital shortfall is not evenly split among the four

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