Piraeus Bank New CEO Races to Reach Target for Reducing Bad Loans

Christos Megalou, the new chief executive officer of Piraeus Bank SA is trying to make up for lost time, says a report in Bloomberg. Megalou...

Schaeuble Says Critics Envy Germany

Beaming over Germany's success in imposing its will and forcing Cyprus to confiscate up to 80 percent of uninsured bank deposits to get releae...

Chrysostomos Sees Hard Road For Cyprus

With predictions by economic analysts that the harsh terms of Cyprus' 10 billion euros ($13 billion) bailout from international lenders will plunge the country...

New Democracy MP Bakoyiannis Fears Capital Controls in Greece

New Democracy MP Dora Bakoyiannis said she fears that Greece may be forced to enforce capital controls if no deal is reached by the coming three-day...

Two out of Three Citizens Struggle Economically

Two out of three citizens, who turned to the economic system for borrowing, in order to cover all types of needs (housing, consumer etc.)...

Turkey’s Offer To Cyprus: Turkish Lira

Offering to step into the breach to help Cyprus during its crushing economic crisis, Turkey - whose troops still occupy the northern third of...

ECB Raises Greek Banks’ Emergency Liquidity Cap by 800 Mln Euros

The European Central Bank (ECB) has raised the cap on Emergency Liquidity Assistance (ELA) available to Greek banks by 800 million euros late on...

Report Says Greece Will Return to Markets When Borrowing Costs Fall Below 5%

  Greece will return to markets when its borrowing costs fall below 5 percent, a recent Reuters report says. This may happen if Greek bonds...

Theodoros Pantalakis New CEO of Attica Bank in Greece

With the consent of Bank of Greece and major shareholder TSMEDE, Theodoros Pantalakis will be the new executive director of Attica Bank, a problematic...

EIB to Help Piraeus Bank in Supporting Small Greek Businesses

The European Investment Bank (EIB) has announced it will invest 350 million euros in Piraeus Bank covered bond next month, as part of efforts...

Coalition MP’s Oppose Foreclosure Plan

Greek Prime Minister Antonis Samaras' plan to let banks seize homes if people can't afford to pay their mortgages because of unrelenting austerity measures...

Banks Concerned About January’s Spike in Non-performing loans

Banks are becoming increasingly concerned about Greece's sudden rise in new bad loans since Janauary of this year. Banks sources have reported that the spike...

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