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Tag Archives: ecb

Greek FinMin: Once QE for Greek bonds, Grexit will be off the table

June 8, 2016 Economy Comments Off on Greek FinMin: Once QE for Greek bonds, Grexit will be off the table

Greek bonds will soon become eligible for the European Central Bank’s asset-purchase program, paving the way for an easing of capital controls, and the gradual recovery of investor confidence, Finance Minister Euclid Tsakalotos said. In an interview to Bloomberg, the Greek Finance Minister said also that once Greece is part …

Kissed by Mario Draghi, Greece’s sleeping banks rally & bond yields drop

April 15, 2016 Economy Comments Off on Kissed by Mario Draghi, Greece’s sleeping banks rally & bond yields drop

Kissed by Prince Mario Draghi, Greece’s sleeping economy beauty finally woke up: the Athens Stock Exchange rallies at +4%, Banks cheer with +8.14%-24.31% and Greek bond yield went down 20 bps. Reason for this Friday party was the decision of European Central Bank to include Greece’s EFSEF bonds in ECB’s …

ECB’s Coeure: Conclusion of Greece’s Review and a new program with the IMF

April 12, 2016 Economy Comments Off on ECB’s Coeure: Conclusion of Greece’s Review and a new program with the IMF

Just when I was wondering today, if there is something missing in my life… one of ECB’s executive board member solved my problem: he told me that what is missing in my life is a new program with the IMF! The European Central Bank concurs with the International Monetary Fund …

ECB’s Draghi fired his bazooka and brought rates down to ZERO%

March 10, 2016 Economy 1

A shock for the little man who still had some money in the bank and used to get something in exchange. A couple of euros to pay the fuel or the bus ticket in order to go to the bank and fix a new date for his deposit. Central European …

Draghi’s awkward memory moment: Not the role of ECB to use its monetary policy to force governments to reform

February 1, 2016 Economy Comments Off on Draghi’s awkward memory moment: Not the role of ECB to use its monetary policy to force governments to reform

It is a working psychological survival strategy: one creates a bubble, gets in and lives comfortable and nicely till the end of the days. When the bubble is drawn with bright colors, the protection is almost perfect – especially when these bubbles are institutions like the European Central Bank. Too …

Greek Program Review talks: IMF insists on further pensions cuts 6%-30%

February 1, 2016 Economy 2

The International Monetary Fund is alive and kicking. And insists to apply its famous wrong “remedies” to the Greek problem, no matter what. The IMF’s representative in charge of the Greek program has arrived in Athens together with the representatives of European commission, the European Stability Mechanism and the European …

ECB – Greek Bonds collateral: “Blackmail” is the answer

January 14, 2016 Economy Comments Off on ECB – Greek Bonds collateral: “Blackmail” is the answer

Blackmail is the only “strategy” they know. And they apply it again towards Greece. The European Central Bank allegedly is preparing to accept again “Greek bonds as collateral for liquidity” provided that the “Pension Reform passes through the parliament.” “ECB prepares to again accept Greek bonds as collateral for cash …

ECB & Draghi cut deposit rate by 10 basis points

December 3, 2015 Economy 1

The European Central Bank and Mario Draghi announced today a new cut in the deposit interest rates. The rate cut will be 10 basis points and down by -0.30%. The deposit rate has been cut from -0.2% to -0.3%. “At today’s meeting the Governing Council of the ECB decided that …

The IMF pushes Europe for formal restructuring of Greece’s debt

November 2, 2015 Economy 6

The International Monetary Fund pushes Greece’s European partners and lenders for a formal debt restructuring. This is what the IMF’s first deputy managing director, David Lipton, told in an interview with Bloomberg. IMF Pushes Europe for Formal Restructuring Accord on Greek Debt “Euro-area countries must commit to a formal restructuring …

Greece’s banks stress tests: ECB finds total capital shortfall is €14.4 billion

October 31, 2015 Economy Comments Off on Greece’s banks stress tests: ECB finds total capital shortfall is €14.4 billion

The European Central Bank announced today the results of stress tests for the four Greek systemic banks National Bank of Greece, Piraeus Bank, Alpha Bank and Eurobank. The ECB has found that the total capital shortfall of the four systemic banks is 14.4 billion euro which is much lower than …

ECB Vice Constancio: Grexit threat was “never for real”

September 16, 2015 Economy 2

Vice President of the European Central Bank Vitor Constancio openly admitted that the threat of kicking Greece out of the euro zone during the spring negotiations was “never for real” because it would not be legal. So simple. So cynical. So unabashed. So real. In an interview to Reuters, Vitor …

Draghi: ECB will need analysis of Greece’s debt sustainability (lol)

September 4, 2015 Economy 3

Greece has to pass a review of its bailout programme and show a commitment to reforms before the European Central Bank can start buying its bonds as part of the bank’s asset purchase programme, ECB President Mario Draghi said on Thursday. Greece has so far been excluded from the quantitative …

Scandal! Greeks use the Greek language to deceive the creditors! Yes, only 3 Germans could thing that

August 27, 2015 Economy 15

Phew! Finally we know, why there have already been so many problems in the communication between in-debted Greece and its good-will Creditors. The real secret truth is finally out. The problem has its deepest deepest roots in the fact that these bold Greeks do indeed speak and write Greek! …and …

ESM’s 3. bailout money comes to Greece & is immediately forwarded to repay debts

August 20, 2015 Economy 2

Efforts, compromise and total surrender to creditors brought fruits: The European Stability Mechanism approved the financial assistance for Greece on Wednesday,, the first disbursement of the first tranche arrived on Thursday and it was directly forwarded to the European Central Bank for the payment of 3.2 billion euro maturing today. …

Greece’s banks & ECB: Liquidity rises, ELA falls

August 19, 2015 Economy 1

All Greek banks were needed was another bailout and capital controls. Both needs have been satisfied and now their liquidity has improved. Therefore the Bank of Greece requested the European Central Bank to lower the Emergency Liquidity Assistance (ELA). The European Central Bank lowered on Tuesday the ceiling for emergency …

Athens Stock Exchange to reopen: ‘temporary restrictions’ for locals, ‘no restrictions’ for foreigners (details)

July 28, 2015 Economy 3

The European Central Bank gave the green light for the Athens Stock Exchange to reopen after one-month shutdown. According to Greek and foreign media, the ASE will open with temporary trading restrictions for local investors, while foreign investors will trade freely and will not envisage restrictions of capital controls (capital …

ECB Draghi heralds “We increase ELA today” as Greeks wonder when banks will open again

July 16, 2015 Economy 1

“The European Central Bank will increase Emergency Liquidity Assistance for Greek banks today,” chief Mario Draghi said during a press conference on Thursday. The much expected decision comes after the ECB froze ELA on June 26th 2015 enforcing the Greek government and the Bank of Greece to impose bank holiday …

Prof Sdogati: The ECB destroys the Monetary Union

July 16, 2015 Economy 5

It is the European Central Bank that destroys the Monetary Union and not the euro itself. It is the ECB that does not fulfill its mandate and becomes subservient to political will. An approach widely supported by more and more high-level academics and economic journalists. “Cutting off Greek banks from the …

European Commission proposes €7bn Bridge Loan to Greece for July

July 15, 2015 Economy 10

The European Commission is proposing to give a 7 billion euro bridge loan to Greece in July so that the country be able to meet its obligations to the European Central Bank and to the international Monetary Funds. According to EC proposal, Greece could get the loan in “one go”, …

Greek FinMin extends bank holiday to July 16/2015, expands bank operations

July 15, 2015 Economy 1

Greek Finance Ministry extended the bank holiday to July 16th 2015 and also expanded bank services and operations. In a statement released on Tuesday night, the Finance Ministry said: Bank holiday is extended up to July 16, 2015, while expanding banking operations by the new legislative act published on 07.14.2015 …

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