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Tag Archives: ecb

EU Court denies Varoufakis access to ECB decision that led to capital controls

The European Union’s top General Court denied access to a European Central Bank (ECB) document which underpinned its decision to freeze vital funding to Greek banks in 2015, that resulted in forcing Athens to impose capital controls. Former Greek finance minister Yanis Varoufakis and German left-wing parliamentarian Fabio De Masi(Die …

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Varoufakis reloaded: ECB profits should be used for a European Poverty Fund

The enfant terrible of euro-economics and former Greek Finance Minister Yanis Varoufakis reloaded his gun and shot: Profits from the European Central Bank should be used for a European Poverty Fund. Speaking at an event of his party DiEM25 in Thessaloniki, he said about the “New Deal in Europe and …

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Tsakalotos says Greece plans to return to markets in 2019 to buy IMF or ECB debt

Greek Finance Minister Euclid Tsakalotos unfolded the government plans how to deal with red loans and how the country will return to the markets. In an interview with radio News24/7 on Tuesday, Tsakalotos said that Greece negotiated hard with the country’s lenders to secure a buffer of 25 billion euros …

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Petition demanding €8bn ECB profits return to Greece handed to Eurogroup

In a meeting with Eurogroup spokesperson Luis Rego, a group of campaigners including Positive Money Europe handed a petition to euro zone finance ministers demanding that Greece gets back the profits made off of its debt. Luis Rego promised the campaigners to bring the issue to the attention of EG …

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Campaigners demand from Eurogroup full return of ECB profits to Greece

Campaigners from pressure groups Positive Money Europe, WeMove.EU and Eurodad will hand in a petition to the Eurogroup as it meets at 15h00 CEST on Friday demanding Greek debt profits are fully returned from the European Central Bank. According to pressure groups investigation, €8 billion are missing from the Eurogroup …

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Bank of Greece links recent plunge of banks stocks to “interest rates rises”

The Bank of Greece has linked the latest developments in the Athens Stock Exchange and the plunge of Greek banks stocks to exogenous factors such as rises in interest rates internationally and in Greece’s neighbouring countries in particular. In a statement issued on Wednesday, the Bank of Greece stressed among …

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“Greece wants to repay loans to ECB and IMF before maturity,” Tsakalotos says

Greece wants to repay loans to the International Monetary Fund and the European Central Bank before they mature, Finance Minister Euclid Tsakalotos said on Tuesday. The aim is to reduce debt serving cost, he added. The ECB holds Greek debt worth around 12 billion euros with an average maturity of …

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Creditors’ statement following first post-bailout mission to Greece

Staff from the European Commission, in liaison with staff from the European Central Bank and the International Monetary Fund, visited Athens from 10 to 14 September for the first post-programme mission to Greece. Staff from the European Stability Mechanism participated in the meetings in the context of its Early Warning …

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Belgium to pay €222mn to Greece in SMP profit return from Greek bonds

Belgium will pay a total of 221.8 million euros to Greece in the context of profit central banks made from Greek bonds, Belgian business newspaper L ‘Echo reports. The money is from the ECB and EZ central banks Security Markets Program. “In the midst of a crisis, the European Central …

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Greek banks to lose cheap borrowing after ECB revokes waiver

The European Central Bank announced on Friday it will restrict Greek banks’ access to its cheapest funding operations as from August 21, when the country exits the bailout program. The ECB will revoke a so-called ‘waiver’ which allowed Greek banks to post junk-rated government bonds as collateral in regular funding …

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ECB Vice: Austerity Program for Greece was indeed too harsh

The eurozone’s southern members have done enough to reform their economies and reduce risk in their financial systems for the bloc to speed up banking union, the vice-president of the European Central Bank has said, in an implicit criticism of German foot-dragging. In an interview with Financial Times,  Vítor Constâncio, …

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ECB: Greece has the lowest growth rate in Eurozone

Greece recorded the lowest growth rate in 2017 among the EU member-states, according to the  annual report of the European Central Bank released  on Monday. The Greek GDP amounted to 1.4%, compared with a 2.3% average in the eurozone, while Ireland’s figure stood at 5%. According to the report, the …

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Germans remind the ECB that it urgently needs to change

With this and that on the festive days we forgot European institutions that urgently need to reform. At least, the Germans did not forget the issue and for one more time the criticized the European Central Bank. Even though the former German finance Minister Wolfgang Schaeuble remains quiet awaiting the …

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