Greek business and household bank deposits were steady in March despite worries the Cypriot banking crisis would lead to outflows in other indebted southern European economies, central bank data showed on Friday. Bank of Greece data showed deposits slightly rose to 164.08 billion euros at the end of March from 164.02 billion euros at the [...]
Tag Archives | Greek Banks
Four Banks Make Non-Binding Offers for Hellenic Postbank
Three of Greece’s largests lenders and a smaller bank made non-binding offers to acquire the healthy assets of the country’s state-controlled TT Hellenic Postbank SA (TT.AT), a banking official familiar with the process said, as regulators move to wind down its operations. “National Bank of Greece (NBG), Alpha Bank (ALPHA.AT), Eurobank (EUROB.AT) and Attica Bank [...]
Troika Loans Pour Into Poor Greece
It’s been a long time coming, but Greece is expected to get all of a first series of 34.3 billion euros ($45.2 billion) loan installment from its international lenders by Dec. 19, a Greek official said on Dec. 18, hours after an initial payment was carried out. “The full amount should arrive by Wednesday,” the [...]
Greek Banks to Decide Friday on Debt Buyback
The management of Greece’s leading banks will decide Friday whether to participate in an ambitious plan by the government to buy back billions of euros worth of outstanding bonds in an effort to cut Greece’s growing debt burden, people familiar with the situation said Thursday. The four leading banks–National Bank of Greece SA (NBG, ETE.AT), [...]
EU Gives Temporary Okay for Recapitalization of Banks
The EU Commission gave its temporary green light to the recapitalization of the main Greek banks – Alpha Bank, EFG Eurobank, Piaeus Bank and National Bank of Greece – through the Hellenic financial stability fund. “Greek banks are currently operating under extreme conditions, the bridge recapitalization by the Hellenic fund ensures the stability of the [...]
Bank Deposit Outflows Said To Have Risen Before Elections
Greek deposit outflows have accelerated before this weekend’s elections, two bankers familiar with the situation said, on concern the nation may move closer to abandoning the euro. Daily withdrawals have increased to the upper end of a 100 million-euro to 500 million-euro range this month, one banker said, asking not to be identified because the [...]
Greek Bank Marathon: European Deposit Guarantee
Hardly a day passes without another article appearing on how Greece is going to collapse and the trigger for it is going to be a Bank run. This is how the simple scenario goes. Depositors withdraw their cash either physically or by electronic transfer abroad; the private banks collapse and Greece exits the Euro. Others [...]
House Burglaries Increasing Due to Greeks Hiding Cash in their Homes
More and more stories are coming to light about anxious Greeks withdrawing their money, or even their life-savings, from the Greek banks to stash it safely at their homes and then having it stolen right under their noses. The debt crisis has caused a panic wave among Greeks, who are desperately trying to protect their [...]
Bank Lending Drops 4% On Year To 245 Billion Euro In March
Lending to Greek businesses and households shrank 4% on the year in March as demand for bank loans continued to slide, data from the Bank of Greece showed Monday. The total amount of credit outstanding fell to 245.11 billion euro in March, down 1.3 billion euro from a year earlier. The decline in March followed [...]
Private Sector Deposits in Greek Banks Increased 0.5 Percent in March
Firms and consumers stopped pulling their money out of Greek banks in March, European Central Bank data showed on Monday, giving some respite to the country΄s troubled banking system. Private sector deposits in Greek banks increased 0.5 percent in March after a near 2.7 percent drop in February, with the total fall inching up to [...]
Greek Lenders To Get Temporary Capital Boost Ahead of Final Recap
Greek lenders will get a temporary capital boost from the state in the form of bonds until the country finalizes a bank recapitalization plan that has been pushed back until after the May 6 elections, a local newspaper reported Friday. Citing unnamed sources, newspaper Kathimerini reported that lenders will receive bonds from a special bank [...]
Greece Will Bail Out Its Banks, But Not Its People
ATHENS – After imposing mandatory losses of up to 74 percent on its own banks, Greece is ready to give it all back through a plan to recapitalize them with $64.4 billion, a bailout paid for by the taxpayers. Greeks who’ve seen their pay cut up to 30 percent or more, taxes hiked, pensions slashed [...]
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Calendar – Exhibits, Concerts, Fun
- Crete Hosts Talks On Ancient Novels May 23, 2013
- Velos Mutiny Honored in Special Ceremony May 23, 2013
- Contemporary Theatrical Adaptation of Homer’s Iliad May 22, 2013
- A Greek Portfolio at The Benaki Museum May 22, 2013
