Greeks Protect Their Money by Converting Them to Bitcoin

  The capital controls the Greek government has imposed have one loophole. Greeks can in fact withdraw their money if they are willing to convert their euros into bitcoin. The...

ECB to Raise Emergency Liquidity Assistance to Greece by 2 Bln Euros

The European Central Bank (ECB) has decided to raise the Emergency Liquidity Assistance (ELA) to Greek banks. The ECB will increase funding from 68.9 billion...

Greek Finance Ministry Announces Capital Controls Amendments

On Monday, the Greek Finance Ministry announced new modifications to the capital controls that have been imposed in Greece since June 28, 2015. While the...

European Commission Clears Restructuring Plans of NBG & Piraeus Bank

The European Commission announced on Wednesday that it has found the restructuring plans of the National Bank of Greece (NBG) and Piraeus Bank -...

Cypriot Bank Chief Says Money Won’t Flee

While Cyprus is keeping a tight rein on depositors and limiting how much they can take out of the bank, apart from those who...

PASOK In Panic Over Papandreou Defiance

PASOK's once-dominant Socialist party is in almost completely disarray in the aftermath of its former leader and previous Greek premier George Papandreou in an...

Swiss Banker Involved in Bribery Scandals in Greek Custody

A Swiss senior banker who was among the key suspects in the so-called Siemens scandal as well as in armament programs scandals is currently...

Greek Banking System Credit Contracts 1.4% y/y in January

Total credit in Greece's banking system contracted 1.4 percent year-on-year in January after shrinking by 1.0 percent in the previous month, Bank of Greece...

Private NPLs Exceed Greece’s GDP

There is a steep Greek debt in private loans in comparison with the country's GDP, the Greek newspaper Kathimerini reports. According to the news source,...

Institutions Leave Athens With Many Critical Issues Unresolved

Today Greek officials reported that talks between foreign envoys representing the institutions of the latest bailout review and Greek government concluded without the parties...

Athens Stock Exchange Drops After 5-Week Shutdown

The Athens Stock Exchange (ASE) dropped by 23% on Monday, after a five-week shutdown due to capital controls. The Greek stock market opening was another step away from the...

ECB Keeps Greek Banks’ ELA Frozen but Increases Haircut

The European Central Bank (ECB) kept Emergency Liquidity Assistance (ELA) steady for Greek banks but adjusted the haircut on the collateral the lenders offer as security,...

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