Tag Archives: interest rates

Eurozone is near the end of a tighter monetary policy cycle, Bank of Greece governor Yannis Stournaras said on Wednesday. He expressed his belief that “we have come close to the end of interest rate increases”. Addressing a conference organized by the Federation of Insurance Companies of Greece, the central …

Read More »

Finance Minister Christos Staikouras gave the banks 10 days to proceed “immediately and bravely” with an increase in interest rates on deposits and a reduction in interest rates on new loans. He described the 4.86% interest rate on new loans in October as “unacceptable.” Speaking to Skai TV on Saturday, …

Read More »

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 …

Read More »

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 …

Read More »

Greece’s Public Power Company (DEH) is turning to radical measures to tackle the problem of unpaid bills, amounting to more than 2.4 billion euros. The PPC not only increases the interest rate in outstanding bills, it also hires collector agencies to scare the hell out of those who do not …

Read More »

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 …

Read More »

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 …

Read More »

Greek debt interest deferrals would amount to €120bn over 23 years, the German finance ministry has calculated. Wolfgang Schaeuble can only say NEIN. The Greek government can keep struggling to persuade its creditors for ease of repayment terms. In vain. In an internal paper obtained by German economic news daily …

Read More »

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 …

Read More »

Few days before the crucial Eurogroup meeting on May 24th and there is still a grave gap between the International Monetary Fund and German-led eurozone about the Greek debt relief. The IMF reportedly came up with a new proposal. According to Dow Jones, the International Monetary Fund is pressing the …

Read More »

I told you so a couple of days ago: whatever the question, Schaeuble’s answer is always NEIN! German Finance Minister Wolfgang Schaeuble confirmed me when he rejected the proposal of the European Stability Mechanism for Greece’s Debt Relief, capped interest rates and purchase of part of the Greek debt to …

Read More »

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 …

Read More »

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 …

Read More »

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 …

Read More »

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 …

Read More »

Another Christmas present sent by Samaras’ coalition government …to Greeks with love: With a very thin majority of just 152 votes conservative Nea Dimokratia and socialist PASOK voted and approved the foreclosure framework on Saturday evening. The law will apply as of 1.1. 2014, after Troika pressure. “Rather than providing …

Read More »

They rip you off the moment, they smell you have a euro or two in your pocket or even worst at a bank savings account. Tax on interest rates from bank deposits and other bank products is increased from 10% to 15% and thus retroactive from 1. January 2013. According …

Read More »

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 …

Read More »

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 …

Read More »