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  1. Greece and the euro: The flight of Icarus

    Agora

    Over the last three years, you won’t have read a newspaper article, seen a TV report or listened to a radio program that referred to Greece and didn’t use the word “crisis.” And for good reason too... somebody doesn’t want printed; everything else is advertising.” I can tell you this crisis has been

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  2. Does new troika visit spell fresh drama for Greece? Maybe not

    Economy

    maturities for the remainder of 2013. The 3.2 billion euros of T-bills that mature in November and another 3.6 billion in December are likely to be rolled over easily. The 4 billion of T-bills... by ECB/NCBs was covered by the issuance of a T-Bill financed by Greek banks via the ELA

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  3. Greece exceeds expectations with first return to bond markets after four years
    Photo by Can Esenbel [www.mundanepleasure.com]

    Economy

    and it is an encouraging sign for Greece and Europe”. A first sign of the strong demand was evident in the last 6-month T... told the local media that the government expects the yield of the upcoming T-bill auctions to fall... on a T-bill stock of 15 billion euros. However, this has to be offset against some 100 million

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  4. Drop ‘til you shop
    Photo by MacroPolis

    Agora

    to be made for using Sunday shopping to create more movement in the market. It doesn’t have to be just about... been done or is being done to ensure that this won’t happen. Have Greek companies, for instance... other people’s products rather than producing our own? If there isn’t an effort to tend

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

    EconomyProgramme

    2 billion euros and new funding could stem from extraordinary T-Bill issues of 1.5 – 2 billion... for T-Bills, an approval by the troika is required for any incremental borrowing using this funding tool. Additional T-Bill issues would be probably primarily or solely covered by Greek banks, since

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  6. Another euro stitch unpicked
    Photos by Dennis Skley via Flickr https://flic.kr/p/qcppmH

    Agora

    are going to be incredibly tense, there isn’t now. The European Central Bank’s decision on Wednesday... in the short-term by issuing T-Bills, for which Greek banks would probably be the only bidders. A six-month T-Bill issue on Wednesday attracted the lowest bid-to-cover ration since July 2006 as Athens

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

    Economy

    are pillar III bonds, Greek government bonds (GGB) and T-Bills. For the first two categories, the total... November, foreigner investors’ take up of T-Bill issues (15 billion) was around 60 percent. However... euros, have gradually increased their participation in T-Bill rollover as of December. Another important

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  8. Greek funding needs add to pressure in talks between Athens and lenders

    EconomyProgramme

    and to issue additional T-Bills of 10 billion by increasing the current limit of 15 billion to 25 billion... to be covered. On the T-Bills issue, Greece successfully rolled over 2.4 billion euros of 3- and 6-month T-Bills earlier this month. Note, though, that they were almost fully covered by Greek investors

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  9. Ahead of Eurogroup, Greece juggles funds to cover liquidity shortage

    EconomyProgramme

    This week Greece has to rollover 1.6 billion euros in 3-month T-Bills. Since foreign investors stopped... euros worth of those T-Bills before February 18. That was a key date since the European Central Bank recently requested Greek banks not to increase their T-Bill exposure at levels higher than those

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  10. After paying IMF, Greece looks to cover remaining funding needs for March and April

    EconomyProgramme

    euros worth of T-Bills. Local media reported that Chinese investors participated with 150-200 million euros in two of the three T-Bills issues this month. According to Kathimerini daily though... of those companies to invest a part of their cash in T-Bills. The government’s ideal options include

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