Tag Archives: banks

Interest rates will remain low level for a long time and central banks could continue using quantative easing (QE) tools in the future, a study “Monetary policy in a low interest rate world” by the Bank of Greece mentioned on Thursday. The report was presented by Dimitris Malliaropoulos, director of …

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Greek and Chinese authorities investigate illegal payment transactions between a Greek real estate company and Chinese investors who have been targeting residence permission in an EU country via the Golden Visa program. According to Greek media reports on Wednesday, the vice chairman of Greece’s biggest retailer “Jumbo” is investigated for …

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More than eleven thousand properties have come under hammer since the electronic platform for e-auctions went in operation in February 2018. A total of 11,159 debtors’ properties have were auctioned, another 3,776 are expected to be auctions until the end of the year. The list includes 601 houses, 12 hotel …

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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 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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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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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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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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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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As it prepares to exit the program era, Greece has come a long way in the path of economic recovery. It still faces many challenges: high unemployment, weak banks, and uncompleted reforms, the IMF tweeted on Friday presenting the concluding statement that describes the preliminary findings of IMF staff at …

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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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The Greek government’s master plan to restore growth, after it emerges from eight years under harsh bailout conditions this August, revolves around a key factor that could jump start its economy: its banks. Prime Minister Alexis Tsipras will present to his cabinet on Monday at 1 p.m. in Athens the …

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With a not lady-like gesture, Hollywood star and decades-long political activist Jane Fonda urged Greeks to show “the banks and the money-men” an ‘arm of honor!’ In an interview with Greek presenter superstar Eleni Menegaki, Jane Fonda advised Greeks to “stay strong and stand up to tyrants”  and praised them …

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Greece’s four systemic banks- Piraeus bank, Eurobank, National Bank and Alpha bank – have successfully passed the stress tests of the European Central Bank. The stress tests results were published on Saturday and were conducted earlier than for other European banks, because Greece is to exit the bailout program in …

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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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Two groups wearing hoodies smashed the windows of several banks around Kaniggos square in downtown Athens on Thursday morning. According to media reports, the two groups were armed with sledgehammers and smashed the windows of the branches of National and Piraeus bank. The attack occurred at 10 o’ clock in …

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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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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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Greeks and tourists experienced a problem over the pre-Christmas days: the system for payments with debits and credit cards or withdraw money form the ATM seems to have been blocked due to the high demand The problem started a few days ago reaching its peak on Saturday and Sunday, December …

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“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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