Calamos Supports Greece

ELA

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 Tuesday. The increase takes the ELA ceiling to 74 billion euros (from 73.2 billion last week,...

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 euros to over 71 billion. The increase is the biggest this month and means the cap...

ECB Extends Greek ELA by 600 Million Euros

Today, the European Central Bank (ECB) decided to increase the maximum amount of Emergency Liquidity Assistance (ELA) that Greek banks can receive from the country's central bank by a further 600 million euros. The decision was made following a teleconference held...

Another €2 Bln in Bad Loans Added in Jan-Feb

Greek bankers estimate that the amount of non performing loans created in the first two months of 2015 amount to 2 billion euros. This is twice the amount of new bad loans created in the last two months of 2014,...

Central Banker: Greek Deposits are Totally Safe

The Greek banking system and deposits are fully secured, Bank of Greece (BoG) governor Yannis Stournaras on Friday said after a meeting with Prime Minister Alexis Tsipras. Stournaras added that the prime minister and the economic staff assured him they...

ECB to Raise Emergency Funding for Greek Banks

The European Central Bank (ECB) greenlit funding for Greek banks amounting to 68.8 billion euros via the Emergency Liquidity Assistance (ELA) support mechanism. ECB's 25-member board of directors, which held a meeting in Nicosia, Cyprus, decided to increase Greece's funding...

What Happens If Greece Doesn't Pay Its Debt to the IMF?

In March, the Greek government will have to overcome a great obstacle in paying the scheduled installments to the International Monetary Fund (IMF). While Greek ministers were thinking of postponing the repayment installments, it appears extremely unlikely that the...

ECB Approves Increase of Funding to Greek Banks Through ELA to 68.3 bln

The European Central Bank decided on Wednesday to continue funding Greek banks through the emergency liquidity assistance (ELA) facility and to increase the amount available to them to 68.3 billion euros, a source with knowledge on the consultations underway...

Greek Banks Drop After Eurogroup Meeting

Greek banks dropped in Athens Stock Exchange (ASE) after the meeting between the Eurozone’s Finance Ministers ended abruptly when Greece refused to sign a bailout program extension. According to Bloomberg, this raised concern among creditors who “may need to introduce controls...

ECB Approves Additional Liquidity for Greek Banks

The European Central Bank on Thursday approved additional emergency finance for Greek banks raising the sum earmarked through the Emergency Liquidity Assistance (ELA) to 65 billion euros. In a meeting on Thursday, ECB extended for one week its liquidity assistance...