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Tag Archives: ecb

BoG Stournaras: ECB must reduce rates four times within 2024

The European Central Bank must cut borrowing costs twice before the August summer break and another two times before the end of the year, without being influenced by the US Federal Reserve, according to ECB Governing Council member and governor of the Bank of Greece (BoG) Yannis Stournaras. “It is …

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EU and ECB end electricity and energy support measures for citizens

The European Commission and European Central Bank chief Christine Lagarde urged EU governments to stop energy support measures to citizens. Speaking at the Hearing of the Committee on Economic and Monetary Affairs of the European Parliament on Monday ECB chief Lagarde said: “As the energy crisis fades, governments should roll …

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ECB makes large interest rate hike, bank deposits at 1.5%

The European Central Bank piled on another outsized interest rate hike aimed at squelching out-of-control inflation, increasing rates Thursday at the fastest pace in the euro currency’s history and raising questions about how far the bank intends to go with the threat of recession looming over the economy. The 25-member …

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ECB must keep buying bonds to cushion Ukraine fallout, says Bank of Greece governor

The European Central Bank (ECB) should continue its bond-buying stimulus programme at least until the end of the year and keep it open-ended to cushion the fallout from any conflict in Ukraine, ECB policymaker Yannis Stournaras told Reuters. He was the first ECB official to spell out how events in …

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ECB’s decision on Greek bonds a “message of confidence”, says Greece

A decision taken by the European Central Bank on Greece is a strong message of confidence and a signal of acknowledging the progress made by our country, Finance Minister Christos Staikouras said on Friday, commenting on an ECB’s decision on Greek bonds. The European Central Bank will offer threefold support …

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Greece exposed to increased risks from climate change, says ECB-ESRB report

Banks in Greece, Spain and Portugal face increased risks from the climate change, according to a joint report by the European Central Bank (ECB) and the European Systemic Risk Board (ESRB) published on July 1. Greece and other southern EU countries are exposed to increased risks, on the one hand …

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ECB will accept Greek government bonds as collateral

The European Central Bank (ECB) announced on Tuesday that it will accept Greek government bonds as collateral as the coronavirus pandemic hit the eurozone. The ECB will accept government-guaranteed loans as collateral even with lower credit quality, and it will allow banks to pledge more unsecured debt as collateral. “A …

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ECB Vice: “Greek people do not feel the economic improvement”

European Central Bank Vice President Luis de Guindos on Monday praised the progress made by the Greek economy. He was clever enough, though, to observe that the Greek people have not felt the improvement in their daily lives yet. “The Greek people, despite not yet feeling the improvement shown by …

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Draghi: There was no Plan B for Greece, he didn’t want Grexit

Outgoing head of the European Central Bank, Mario Draghi, has said that he was never part of the camp that wanted “to let Greece go” from the eurozone during the deadlock between lenders and the then recently elected SYRIZA party in 2015. In an interview with the Financial Times published …

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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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