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Greece

Bank of Greece: Financial System Remained Resilient Through Pandemic

The Greek financial system remained strong throughout the Covid-19 pandemic, the Bank of Greece stated in its Financial Stability Review.

Bank of Greece Forecasts Zero Growth for 2020

The Greek economy will fall to zero growth this year while it will show a significant divergence from fiscal targets for the year, the Bank of Greece said in its annual report on the Greek economy, presented on Friday. The...

Bank of Greece Chief Foresees Growth Over Three Percent After 2020

Bank of Greece governor Yannis Stournaras said on Thursday in a speech in the United States that growth rates could rise higher than three percent after 2020, given the right conditions. Speaking at an event sponsored by the Stavros Niarchos...

Bank of Greece Governor Stournaras Proposes Abolishment of Capital Controls

Υiannis Stournaras, the Governor of the Bank of Greece, revealed on Friday that he proposed to the new Prime Minister, Kyriakos Mitsotakis, the complete abolishment of capital controls in Greece. After his meeting with the PM at Maximos Mansion, Stournaras...

Bank of Greece Forecasts 1.9% Growth for 2019 and Lower Primary Surplus

The Bank of Greece published its interim report on Monetary Policy on Monday, where it highlights some interesting projections for the future of Greece’s economy. The central bank estimates that the country's gross domestic product (GDP) will grow by 1.9...

Bank of Greece Revises Growth Downward for 2019

The Bank of Greece said in a report on Monday that the Greek economy is expected to grow by 1.9 percent this year, which marks a downward revision to its December estimate of 2.3 percent growth. The new number is...

Bank of Greece to Look at Minister Polakis' Loan From Attica Bank

Yiannis Stournaras, the governor of the Bank of Greece, called a meeting on Monday between his bank's officials and those from Attica Bank. In question is Attica Bank's recent personal loan to Greek Alternate Health Minister Pavlos Polakis. It was disclosed following...

Bank of Greece Presents Plan to Slash Non-Performing Loans by 47%

Τhe Bank of Greece on Thursday presented a plan to reduce Greek banks' non-performing loans by up to 47 percent. Greek banks currently hold the highest level of such loans in Europe. The non-performing loans are a huge burden for banks...

Bloomberg: 'Central Bank of Greece To Cut Bad Debts of Banks in Half'

  The Central Bank of Greece is working on a plan to cut in half all the bad debts that burden  Greek banks, according to a news report published by Bloomberg on Tuesday. This move is expected to strengthen trust in...

Bank of Greece: Interest Rates to Remain Low

Interest rates will remain at low levels for the forseeable future and European central banks could continue using quantitative easing (QE) tools, according to a report by the Bank of Greece said on Thursday. The report was presented by Dimitris...

Greece has 'a Long Way to Go' after Bailout, Bank of Greece Chief says

Greece still has "a long way to go," said Bank of Greece Governor Yiannis Stournaras in light of Monday's official end of the country's third bailout program. In an interview with Kathimerini newspaper Sunday edition said that there are still...

Bank of Greece Governor: Country Must Continue with Reforms

"The markets are waiting to see whether Greece will honor its commitments regarding the implementation of additional measures after the (bailout) program ends on August 20," said Bank of Greece Governor Yiannis Stournaras. Stournaras spoke to the Financial Times saying...

Bomber Gets Life Sentence for 2014 Bank of Greece Attack

Panagiota (Pola) Roupa, a leading member of Greek ultra-left group Revolutionary Struggle, was given a life term plus 25 years in prison on Wednesday for a car bomb attack outside the Bank of Greece headquarters in Athens and other...

Greek Economy Will See Higher Growth, Says Bank of Greece

Greece's economy will record higher growth rates under conditions in the near future, Bank of Greece governor Yannis Stournaras estimated in a Monetary Policy Report submitted to parliament. He also called on Greek banks to speed up their efforts for the...

Bank of Greece Says Bad Loans Declined in 2017

Non-performing loans (NPLs) fell in 2017 and credit risk is down compared with previous quarters, but a further decline will depend on developments in Greece's macroeconomic data, the Bank of Greece has said. The central bank asked Greek banks to review...