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Tag Archives: ecb

ECB increases ELA to Greek banks by €500 million

The European Central Bank (ECB) has increased the emergency liquidity assistance (ELA) provided to Greek banks by 500 million euros to 80.7 billion euros from 80.2 billion euros, news agencies reported on Tuesday.   According to the same reports, Greece’s cash buffer remains unchanged at 3 billion euros. The central …

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ECB report: “Default risk expectations increased sharply for Greece”

The European Central Bank issued it Financial Stability Review today and made very important conclusions: that Default risk has increased for Greece and that the Greek banking sector has suffered substantial deposit outflows. “Wow,” as Finance Minister Yanis Varoufakis would say expressing his astonishment about the extremely surprising and nonplus …

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ECB leaves ELA level for Greece unchanged, while Greeks withdraw money like crazy: €300m just yesterday

The European Central Bank left the level of Emergency Liquidity Assistance  available to Greek banks unchanged from a week ago, two people familiar with the matter told Bloomberg. “During a telephone call on Wednesday, the Governing Council left the cap on Emergency Liquidity Assistance at 80.2 billion euros ($87.6 billion), …

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Bland & Boring as usual: Grexit-dish served by ECB’s Nowotny

Despite some progress recorded during the Brussels Group meeting on Saturday, creditors’ pressure against Greece remains high. It is the same indirect threat being told over and over again. That the eurozone is not afraid of a Greek exit from the eurozone as the impact would not be as devastating …

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How the ECB plunders Pension Funds and Deposits

Are you one of the few chosen ones with euro savings at the bank? Are you shocked every time you go get your “profit” from the interest rates to see a handful of coins landing in your purse?  You complain to the bank and get the standard answer “There is …

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Juncker, Trichet, Draghi, Lagarde, DSK & the other kids of MoU-block to testify in Greece’s Loan Agreements inquiry

Applaud! Excellent Idea! Former ruling and coalition government partner, Socialist PASOK proposes that all responsible for the two Memorandum of Understanding (Loan Agreements) and the Greek Bond swap (PSI) should testify in front of the parliamentary committee investigating the conditions and implementations of the agreements with the lenders. In a …

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The Contra-Narrative: EU’s elites blackmail Greece

There is a another narrative to the usual “Greece doesn’t deliver”, “Greece sent reform list for the garbage bin”, “Greece does not try enough” and all the other nice things we have been reading since the new Greek government came into power. The counter-narrative is called: EU’s elites blackmail Greece. …

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ECB official Coeure: Greek aid program set for change (Trio & Da Da Da)

Aha! Aha! What’s wrong with you , my darling? Do you change the Greek bailout program? Da Da Da… Greece’s financial aid programme is set to be changed to accommodate its new government, a senior European Central Bank official said on Monday, noting that the bank stood ready to support …

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ECB dismisses FAZ report on “capital controls in Greece”

“The ECB Governing Council and the ECB banking supervisor would be more comfortable if there were capital controls to prevent the banks bleeding (money),” German arch-conservative daily Frankfurter Allgemeine Zeitung claimed Thursday citing an source from the European Central Bank. ECB’s concern was allegedly based on the ground of a …

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