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Tag Archives: interest rates

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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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’s Parliamentary Budget Office report with a €84.3-billion error

The Parliamentary Budget Office (PBO) predicted, Greece could be on the verge of bankruptcy again, in a couple of years. In its quarterly report assessing the Greek state budget for the years 2020-2026, the PBO said on Monday, that interests that should be paid in this period of time to …

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ECB Draghi keeps key interest rates at historic ultra-low level

European Central Bank president Mario Draghi keeps interest rates at historic low.The low interest rate cause a blow to million of deposits of ordinary people who trust their live savings to the banks. In a statement issued on Thursday, the ECB said: At today’s meeting the Governing Council of the …

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Lagarde: Greece doesn’t need Debt Haircut but Restructuring

Managing Director of International Monetary Fund, Christine Lagarde, said that “Greece doesn’t need debt haircut for the time being,” right after the meeting with German Chancellor Angela Merkel in Berlin on Wednesday. What needed is “debt restructuring and interest rate cuts on bailout loans.” Stressing the need of reforms, Lagarde …

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Greece to lift capital controls for those who bring money back to banks

The Greek authorities will try everything to get back to the banks what depositors withdrew before the capital controls were imposed on June 29th 2015. The financial ministry and its high-ranking state officials and interim government ministers are determined and will try everything to get the money back to the …

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Study: Germany made €100bn profit on Greek crisis

What? I don’t believe it! Rea-lly? Germany made a 100 billion euro profit on Greek crisis? No, kidding? HA! And yes, so it is! A study conducted by a German Economic Institute has shown that every time investors got bad news about Greece, they rushed to Germany’s ‘safe haven’ with …

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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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Eurogroup and the Greek Deal – Few Questions open

A tough bargain took place yesterday in Brussels at the meeting of the Eurogroup leaders and Greek Prime Minister George Papandreou came out at 2:30 pm with a content smile on his face. At the following press conference he stressed  that Greece managed to achieve its goals.  Loan repayment extension of …

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Greece’s tough struggle at Eurogroup meeting

What does Greece expects today fromthe Eurogroup leaders meeting in Brussels? Athens’ expectations refer to three crucial things: Repayment extension for the €110 billion bailout, Decrease of borrowing interest rates and Buyback of its debt. Practically there has been an EU acceptance on the repayment extension and cuts in the interest …

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