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Tag Archives: liquidity

Bank of Greece links recent plunge of banks stocks to “interest rates rises”

October 10, 2018 Economy Comments Off on 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 …

ESM Regling prepares ground for new loan: “Sooner or later Greek govt will be out of liquidity”

January 25, 2016 Economy Comments Off on ESM Regling prepares ground for new loan: “Sooner or later Greek govt will be out of liquidity”

Odd. It’s normally German Finance Minister Wolfgang Schaeuble who ‘announces’ plans for new Greek programs and additional loans. Apparently, this time, the Germans made an arrangement among themselves: That ESM chief, German Klaus Regling will bring the bad news. It’s logical, as Schaeuble tries to topple Chancellor Merkel and cannot …

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 …

ECB’s Novotny: “bridge program for Greece while negotiations thinkable”

July 7, 2015 Economy Comments Off on ECB’s Novotny: “bridge program for Greece while negotiations thinkable”

Bridge funding for Greece while a new bailout programme is being negotiated could be a possibility, European Central Bank Governing Council member Ewald Nowotny said on Monday. “Whether it’s possible is something that has to be discussed,” Nowotny told Austrian state television ORF. Nowotny added that the ECB would not …

Greek banks: liquidity apprx €1bn – ATMs “full over weekend”

July 3, 2015 Economy 19

What has been rumored since the morning, takes a shape in the afternoon: that the cash reserves of Greek banks are shrinking. The rumor started when some pensioners could not withdraw €120 on Friday if they had withdrawn €60 via ATM the day before. The concern increased, when several debit …

Greece vs Creditors: Tsipras will never be able to satisfy the big neurotic mama

April 2, 2015 Economy 6

Greece “defaults” each and every month since the new coalition government came into power, should we believe the Cassandras of various nationalities and interests. The first default scenario “saw” a default by end February, the second by end of March. Bogeyman’s words “Grexit” and “Grexident” started to whirl around. Again. …

Varoufakis: “We have Plan B” after ECB Draghi’s says No,No,No to liquidity

March 5, 2015 Economy 7

“We have Plan B” Greek Finance Minister Yanis Varoufakis told private Mega TV on Thursday, just a couple of hours after ECB head Mario Draghi linked ECD funding with Greece’s compliance to the bailout and austerity program, righting the conditions for liquidity. At a press conference today, Mario Draghi distributed …

Minister: Greek Gov’t to ask 2-month extension for IMF’s repayment

February 26, 2015 Economy Comments Off on Minister: Greek Gov’t to ask 2-month extension for IMF’s repayment

“Greek government will ask for a two-month extension to repay the International Monetary Fund,” if not enough revenues collected, Alekos Flabouraris, State Minister responsible for government coordination said on Thursday. Speaking to private Mega TV, Flambouraris said that “there is a liquidity problem, but we believe that with the measures …

Greece will face problems to pay IMF & ECB in July, but Germany wants a 3. bailout package

February 25, 2015 Economy 4

“Greece does not have liquidity problems but in will face trouble to make installment payments to IMF and ECB in July,” Finance Minister Yanis Varoufakis told Greek Alpha 98,9 FM on Wednesday. Asked about whether there will be a liquidity problem in the near future, Yanis Varoufakis said: We have …

ECB extends liquidity for Greek banks, increases funds with extra €3.3bn

February 18, 2015 Economy 4

Te European Central Bank has reportedly agreed to give a two-week extension on Emergency Liquidity Assistance for Greek banks and to raise the emergency funding available to Greek banks to €68.3bn.. “The €3.3bn increase in the so-called Emergency Liquidity Assistance (ELA) is critical for Greece’s banks,” note the BBC, adding …

BoG Stournaras: “Banks are solid, deposits and liquidity safe”

February 6, 2015 Economy 2

Greek central bank governor Yannis Stournaras said on Thursday that Greek banks were solid and under control, a day after the European Central Bank denied them use of Greek bonds as collateral for loans. “Deposits and liquidity are absolutely safe,” Stournaras, who is also a member of the European Central …

ECB to stop accepting Greek bonds as collateral for granting liquidity

February 4, 2015 Economy 16

This is pure and blatant blackmail and came without a warning! The European Central Bank decided to stop accepting Greek bonds as collateral for granting liquidity as of February 11th 2016. Greek banks can still receive emergency funding from Greek Central Bank via Emergency Liquidity Assistance, a statement said. ECB …

Greek media: All four Greek systemic banks ask for ELA funding

January 17, 2015 Economy Comments Off on Greek media: All four Greek systemic banks ask for ELA funding

A third bank, Piraeus Bank, requested for Emergency Liquidity Assistance (ELA) on Friday, after the Eurobank and Alpha bank, Greek media report on Saturday. Citing sources from the banking sector, Greek media report that all four systemic Greek banks have submitted requests for ELA funding from the Europeran Central Bank, …

BoG’s Stournaras warns of “irreparable damage” in Greek economy due to [political] “crisis”

December 15, 2014 Economy 1

Governor of Bank of Greece and former Finance Minister Yiannis Stournaras joined the crowd of those spreading fear over snap elections and the possibility of a SYRIZA government. Gone are apparently Samaras’ success stories, growth, debt sustanability and all the other nice things the Greek coalition government had been feeding …

FinMin: “No Liquidity Problem till Mid-November”, Provided Greeks Pay The Emergency Taxes

October 4, 2011 Economy 4

Aha! Now we know. We don’t need the sixth bailout tranche as soon as possible. As long as Greek taxpayers are large, we can wait. There will be no delays in salaries and pension payments in October. That was said more or less by Greek Finance Minister Evangelos Venizelos during …