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Greek primary cash surplus widens to 3.2 bln in 7-month
EconomyMacroeconomyfrom a net decrease in the long-terms bonds by 6.7 billion more than offset by a net increase of 2.4... repos to cover short-term funding gaps. The year to date movement in long-term loans mainly.... This development follows Greek bank’s zero reliance on ELA funding as of May. b) A decline in bank support scheme
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Conditions for Greek ECCL reportedly outlined in German document
EconomyProgrammethe key terms of the Enhanced Conditions Credit Line (ECCL) that would follow the completion... that Greece’s funding needs for 2015 range between 6 and 12 billion euros. This means that the 10.9 billion could cover more than 90 percent of the upper-end of the anticipated funding gap. Reports
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Where did all the money go?
Agoraof the face value of the debt exchanged. Also, they were offered short terms EFSF notes for the accrued... allocation to the Greek state’s operating needs was just 11 percent of the total funding, at circa 27..., to the tune of 2.3 billion euros. The breakdown of how the programme funding was allocated clearly
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Newsletter 14 - 06/02/2015
coalition is beginning to settle into a more stable pattern in terms of its relationship... to 10 billion euros of T-Bills to cover Greece’s short-term funding needs, carrying... the new Greek government might be willing to offer in return for securing the funding it needs over
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General gov't primary surplus halves in Q1, arrears and guarantees jump
EconomyMacroeconomyis delaying a part of the non-payroll cost to cover its short-term funding obligations. In absolute terms... for ECB funding. The remaining 13 percent of total guarantees, which corresponds to 15.9 billion
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Creditors devise proposal in Berlin, Tsipras prepares ground in Athens
PoliticsGreek Politicssuccess or failure will depend to a great extent on the details of the pact, especially in terms of what... the process and pave the way for the release of 7.2 billion euros in bailout funding. As we had... and funding, which are particularly sensitive topics for the ECB and the eurozone. Once the deal
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In Erdogan's shadow
Agora. Erdogan does not seem genuinely interested in joining the EU as a “grand projet” but only in terms... billion euros in extra funding for Turkey and a visa liberalisation scheme, Brussels was reportedly... obstacles. Also there is the matter of the committee to handle some 400 million euros in EU funding
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Deposit flow remains negative for the second straight month with outflows of 390 mln in November
EconomyMacroeconomywith its eurozone partners on the third bailout programme. In absolute terms, the deposit stock fell...’ Eurosystem funding dropped by almost 6 billion to 113.41 billion in November. Overall, Central Bank funding has fallen by 13.17 billion since July reflecting the reduction of uncertainty, stabilisation
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Shaping the post-programme narrative in Greece
Agoraterms) and longer grace periods for repayment obligations. It remains doubtful if he can sell... contributed roughly 28 billion euros of creditor finance, thereby exceeding Greece’s allocated funding... and matched funding. The proposed bond exchanges and interest rate swaps imply additional costs
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Debt relief moving to centre stage in programme discussion
PoliticsGreek Politicsthat Prime Minister Alexis Tsipras is hoping will soften the impact in political terms of the new... the Greek programme with new funding. The IMF has always been clear that any debt relief measures would... to a fourth memorandum without any funding. While it is true that the Greek government will have to vote
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