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Greece

HSBC: Greece's Bailout Exit Plausible, Clean Exit Less So

Greece may be able to exit the bailout programme established by international lenders as soon as this year, banking giant HSBC has said, adding that a clean exit is less clear. The country last year regained access to capital markets,...

Israeli-Greek Sabby Mionis Sues HSBC and Falciani Over 'Lagarde List'

Israeli-Greek bussinessman Sabby Mionis is suing whistle-blower Hervé Falciani and the HSBC bank over the disclosure of private information from his bank account, contained in the "Lagarde List". Speaking to Swiss paper Les Temps, Mionis, who currently lives in Israel,...

Greek Prosecutors Take Testimony from Former HSBC Employee on 'Lagarde List'

Four Greek prosecutors took testimony from the former HSBC employee Hervé Falciani in Paris on Friday, who in 2008 stole data from around 130,000 bank customers, as part of their investigation into Greek bank account holders. The list, which in...

HSBC Tests Cash Machines in Athens for Drachmas

HSBC has tested its cash machines in Greece to check whether they could cope with the reintroduction of the drachma if the country drops out of the euro. It is the clearest sign yet that the international financial sector...

Greece into Deep Recession after Pandemic, Credit Rating Houses say

International credit rating houses predict that Greece will go into deep recession in 2020, with the covid-19 pandemic causing a blow in the economy and a significant increase in the national debt. Tourism, Greece's main source of revenue, is already...

Greece Launches 15-Year State Bond, Signaling Return to Financial Normality

Greece's Public Debt Management Authority announced the launch of a 15-year state bond in a statement released on Monday. The announcement came just 48 hours after the credit rating agency Fitch upgraded the country's credit rating to BB from BB-. This...

Demand for Greek 10-Year Bond Exceeds 11 Billion Euros

Investors' bids on a new Greek 10-year bond issue exceeded 11.3 billion euros on Tuesday, with the interest rate of the issue set at 3.9 percent, according to sources quoted by the Athens News Agency. Earlier in the day, Greek...

Greece Plans Return to Markets With Five-Year Bond

Greece's debt agency announced the country's return to the bond markets on Monday, with a five-year syndicated issue of the financial product. The bond issue will be launched “in the near future, subject to market conditions”, authorities said in a...

Greek Bank Shares Drag Down the Athens Stock Exchange, State Bonds Reach 4.66%

The turmoil in the Italian economy and the deterioration of Greek state bonds dragged down the Athens Stock Exchange on Monday, with the General Index showing a 2.61 percent loss to 641.79 points. Once again, Greek bank shares led the...

Prominent Greek Journalist Arrested

Police officers arrested on Monday journalist and publisher Kostas Vaxevanis after a lawsuit filed on Sunday by former Prime Minster Antonis Samaras. Vaxevanis was sued by Samaras for libel following a post on twitter. He was arrested in a court, a...

Businessman Sabby Mionis Donates 80,000 Euros to “The Smile of the Child”

Greek-Israeli businessman Sabby Mionis, donated 80,000 euros to the Greek charity “The Smile of the Child”, to reinforce the actions of the organization in times of financial and social crisis. Mionis, Chairman of the Israel-Greece Chamber of Commerce, in his...

Former Financial Crime Squad Chief Sentenced Over Lagarde List

The former head of the Financial Crime Squad (SDOE); Yiannis Diotis, was given a 10-year suspended sentence over his handling of the so-called Lagarde list. A three-member appeals Court of Athens unanimously found Diotis guilty of failing to use the data...

National Bank of Greece Plans to Issue First Market Bonds in 3 Years

National Bank of Greece has announced plans for a euro covered benchmark, the first Greek bank bond in the public market since 2014, and a crucial step in normalising its funding after years of costly central bank support. The three-year...