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Deposit outflows continue in Feb but slow to 750 mln
EconomyMacroeconomyThe Greek banking system recorded outflows for the second successive month, albeit reduced to 750 million euros in February from 1.53 billion in the previous month, Bank of Greece (BoG) figures revealed on Monday.
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Credit contraction stable at 1.6 pct in Feb, net deductions drop to 101 mln
EconomyMacroeconomyThe rate of credit contraction in the Greek market remained stable at 1.6 percent in February, Bank of Greece (BoG) figures showed on Monday.
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Travel receipts drop 2.4 pct in Jan following lower foreign arrivals
EconomyMacroeconomyGreece's travel receipts fell by 2.4 percent to 164.8 million euros in January, Bank of Greece (BoG) figures showed on Friday.
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Budget primary surplus outperforms in 2-month, tax revenues underperform in Feb
EconomyMacroeconomyThe budget primary surplus was confirmed at 2.14 billion euros in the 2-month period of 2017, down by 25.2 percent from last year’s figure of 2.85 billion, the Finance Ministry (MoF) final budget execution bulletin revealed on Friday.
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ECB increases ELA ceiling for Greek banks by 400 mln for first time since summer 2015
EconomyMacroeconomyThe Bank of Greece (BoG) said on Thursday that the European Central Bank increased the Emergency Liquidity Assistance (ELA) ceiling for Greek banks by 400 million euros to 46.6 billion following a request made by BoG.
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Current account deficit narrows to 271 mln in Jan
EconomyMacroeconomyGreece’s current account (C/A) deficit narrowed to 271.1 million euros in January 2017 from 771.4 million a year ago, Bank of Greece (BoG) figures showed on Thursday.
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Primary cash surplus almost halves to 1.1 bln in 2-month
EconomyMacroeconomyGreece’s central government primary cash surplus fell to 1.11 billion euros in the 2-month period of 2017 from 2.09 billion a year ago, Bank of Greece (BoG) figures showed on Friday.
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Eurosystem funding down by 1.1 bln in Feb, ELA increases for first time since April
EconomyMacroeconomyGreek banks’ Eurosystem funding headed south for the twentieth straight month in February, albeit at a slower pace by 1.13 billion, following a decrease by 3.61 billion in the previous month, the Bank of Greece's (BoG) monthly financial statement revealed on Monday.
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Multiple potential benefits await Greece if it can clinch QE eligibility
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EconomyFeaturesIf it manages to conclude the second review, Athens has its heart set on the inclusion of Greek government bonds (GGBs) in the European Central Bank’s quantitative easing (QE) programme, which requires the eurozone central bank to deem Greece’s debt sustainable.
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Stournaras presents debt relief plan with maximum benefits for Greece, minimum cost for lenders
EconomyMacroeconomyDuring a speech at the Delphi Economic Forum on Saturday, Bank of Greece (BoG) governor Yannis Stournaras presented the outcome of an exercise conducted by the central bank showing that mild debt relief in the form of smoothing interest payment for EFSF loans coupled with a primary surplus of 2 percent of GDP as of 2021 is consistent with Greece’s debt sustainability.