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Greek banks push for return to normality
EconomyBankingGreece’s banks form a crucial element in the country’s road to economic recovery, and recent indicators point to signs of a delicate improvement.
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Eurosystem funding down by 3.29 bln to 13.02 bln in July
EconomyMacroeconomyGreek banks’ Eurosystem funding declined by 3.29 billion month-on-month (MoM), the Bank of Greece's (BoG) monthly financial statement has revealed.
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Exclusion from QE confirmed, only ECB's reinvestment programme left
EconomyProgrammeDuring the final press conference before the summer holidays and about three weeks before Greece concludes its third adjustment programme, the European Central Bank’s (ECB) president Mario Draghi confirmed what was widely anticipated, which is that the country will not be eligible for ECB’s QE programme.
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Commission sets out parameters for post-programme enhanced surveillance
EconomyProgrammeThe European Commission announced on Wednesday that everything is in place for the enhanced surveillance framework to be adopted after the third programme is completed on August 20.
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Eurosystem funding falls by 4.56 bln in June to 16.31 bln
EconomyMacroeconomyGreek banks’ Eurosystem funding declined substantially in June, falling by 4.56 billion month-on-month (MoM), the Bank of Greece's (BoG) monthly financial statement has revealed.
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Draghi sets out QE obstacles facing Greece
EconomyProgrammeEuropean Central Bank president Mario Draghi confirmed on Monday that Greece has little chance of being included in the QE programme.
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Deposits positive for fourth month as May sees inflows of 919.4 mln
EconomyMacroeconomyNet deposit movement in the Greek banking system remained positive with inflows of 919.4 million in May versus inflows of 870.1 million in April, Bank of Greece (BoG) figures revealed on Wednesday.
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Eurogroup agrees on significant debt relief measures for Greece
EconomyProgrammeAfter lengthy discussions in Luxembourg on Thursday, the Eurogroup arrived at a decision on significant debt relief for Greece that ticks many of the boxes the government had been hoping for but which will still leave Athens with a significant exposure to the International Monetary Fund.
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Fourth review nears conclusion, clearing path for debt relief agreement
EconomyProgrammeGreek ministers and representatives of the institutions held a teleconference on Monday to discuss the state of play in the fourth review as all sides attempt to clear the decks so a comprehensive agreement, including debt relief, can be reached at Thursday’s Eurogroup.
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Eurosystem funding falls by 716 mln in May
EconomyMacroeconomyGreek banks’ Eurosystem funding fell by 716 million euros in May, the Bank of Greece's (BoG) monthly financial statement has revealed.