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Tag Archives: banks

Another shock day for Athens Stock Exchange closes at 626.17 points

Athens Stock Exchange experienced another black day with its General Index to close at 626.17 and loses at -2.43 percent and turnover at 57.89 million euros. Sellers went beyond the banking sector incl all stocks of FTSE25. The losses were recorded despite the upgrade of the Greek banks and the …

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Fitch upgrades long-term Issue Default Ratings despite pressure on Greek banks

Fitch ratings agency upgraded the long-term issuer default issuer ratings for the four systemic banks of Greece despite the fact that they have come under strong pressure since last week. At the same time, a unit of the Fitch group warns of the risks if the Greek government implements an …

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Greece prepares a Bad Bank for red loans worth €20billion

The Greek government is working on the creation of an Asset Protection Scheme (APS), Finance Ministry officials confirmed late on Thursday. The APS scheme, a bad bank that is, aims to help local banks to get rid of their bad loans totaling 20 billion euros. The idea was submitted by …

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Athens Stocks Exchange under pressure, Greek banks in sell off

The Athens Stock Exchange is currently under pressure, as banking stocks are under a strong sell off, with Piraeus Bank to be even moving within the limit down, Greek media report short after 12 o’ clock noon on Wednesday. In particular, the General Index recorded losses of 3.45% at 657.66 …

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Erdogan says “They have dollars, we have our Allah,” as Turkish Lira in free fall

Turkish President Recep Tayyip Erdogan tried on Friday all means to save the Turkish lira. he urged citizens to rush to the banks and convert their deposits in dollar, euros and gold into the national currency. “It is a national struggle. It is going to be my nation’s response to …

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Greek households & businesses still keep billions under mattresses or abroad, says BoG governor

The governor of the Bank of Greece, Yannis Stournaras, has said that Greek households still keep their money away from the banking system because they are afraid of their savings. He claimed that 12 to 14 billion euros are under mattresses and that businesses have another 10 billion euros abroad. …

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Capital controls: Greece considers to raise withdrawal cap, measures for businesses

Greece is considering further easing of capital controls with the increase of  the cap for cash withdrawing and limiting restrictions to businesses.  The new measures could be implemented as soon as 1. June, that is on the third year the restrictions were imposed. According to media reports, the new measures …

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Greece’s banks beat target to shrink bad loans, says BoG

Non-performing exposures (NPEs) of Greece’s banks have fallen by €4.7 billion to €95.7bn  or 43.1 percent of banks’ overall loan book, Bank of Greece the data had shown. This compares with a target of 48.5%, or €95.9bn. Greek banks have been under regulatory pressure to tackle the bad debt problem …

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Greece considers buying civil servants’ red loans from the banks, says Economy Minister

The Greek state is considering to buy private red loans from banks at the prices they would sell to collections companies or hedge funds. This was stated by Economy and Development Minister, Dimitris Papadimitriou, in response to a question by opposition MP, Odysseas Konstantinopoulos (PASOK). The MP wanted to know …

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Italian doBank to take on bad loans of 400 Greek SME worth 2 billion euros

Italy’s biggest bad-loan manager, doBank, will undertake the loans of some 400 Greek small and medium-sized enterprises which owe Greek banks a total of 2 billion euros. Greece’s four systemic lenders (Alpha, National, Eurobank and Piraeus) are reportedly in the final stage of talks with doBank, a subsidiary of US …

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Tsipras urges bankers to tell the truth about evictions and dismiss “media Fake News”

“You must inform the society about what we are doing and stop the spreading of  fakes news by the media,” Prime Minister Alexis Tsipras told the board of the Hellenic Banking Association at a meeting in his office on Monday. Tsipras was pointing out at the furore in mainstream media …

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