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Reflections on Greece's balance of payments
Agora-adjusted terms, was reduced by an estimated 16 percent of GDP (equal to the elimination... in 2009 when the funding stopped with the onset of the Great Recession. Then, between 2009 and 2014... of the euro area partner countries, the ECB, and the IMF helped Greece with unprecedented funding
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Government adamant snap polls are not under consideration
PoliticsGreek Politicsnegotiations with banks, aiming for more sustainable repayment terms. SYRIZA argued in its statement... funding has declined significantly since 2012 because its share of the vote in the national elections has fallen dramatically. Greek parties receive state funding based on their share of votes
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Coalition caught between pleasing lenders and voters ahead of next troika review
PoliticsGreek Politicsconditionality. The Wall Street Journal reported that the eurozone is considering attaching terms to any debt... on the funding gap. Greece is on course to meet its fiscal targets and believes that with some hard work over the summer the structural side can be taken care of as well. However, the funding issue will depend
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Eurobank posts loss of 523.7 mln in Q4 2014
EconomyBankingby improvement in the consumer credit and international business. In absolute terms, NPLs reached 17.3 billion... international activities. Eurosystem funding rose to 12.5 billion in Q4, while jumped to 29 billion by February... outflows of 5 billion and lack of marker repos renewals of 9.1 billion. ELA funding reached 19.5 billion
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A Greek proposal that deserves to be heard
Agoraat a minimum to meet the agreed terms of the current review, commit to a mid-term fiscal strategy... and repayments to the International Monetary Fund that create a major funding hump of around 24... reduce its funding needs in the mid-term and help Greece regain market access through eligibility
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How Greek banks were left on the brink
Agorapercent in Q1 from 35.4 percent in Q4. Both in relative and absolute terms, Piraeus, the largest bank...-term external funding needs, largely payments to the International Monetary Fund and to replace...) to lift the waiver for Greek government securities, previously used for ECB funding purposes, led
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Banking system showed deposit inflows for second straight month, at 531 mln in Sept
EconomyMacroeconomybe renewed unless the automatic renewal option was in the existing terms. The breakdown by depositor type... for almost 70 percent of that month’s outflows. At the same time, Greek banks’ Eurosystem funding... at the end of September. Over the past three months, Central Bank funding has fallen by a cumulative
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NBG completes sale of Finansbank to Qatar National Bank
EconomyBankingFinansbank to Qatar National Bank (QNB). The transaction and its terms were initially announced on December... bonds, reducing accordingly its reliance on the Emergency Liquidity Assistance (ELA) funding and the associated funding cost. The cash value of the pledged pillar II bonds stood at 1.5 billion euros
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Deposit flow turns positive in May with inflows of 184 mln
EconomyMacroeconomyterms, gg deposits stood at 8.98 billion at the end of May with central government deposits at 4.76... billion respectively. A the same time, Greek banks’ Eurosystem funding fell for the eleventh... in the Emergency Liquidity Assistance (ELA) funding by 2.08 billion to 64.81 billion, its lowest level since
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S&P raises core Greek banks’ ratings, with a stable outlook
Economy, albeit with delays, the formal terms of the third bailout programme..... In addition, their funding positions will remain highly unbalance resulting in continued reliance on Eurosystem funding to cover their liquidity needs, S&P stresses. A rating upgrade would require
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