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Greek Banks

Fin Min Confident Greece Can Return to Growth in 2016

Finance Minister Euclid Tsakalotos told the Financial Times that he is optimistic Greece's economy will return to growth in 2016. "I don't see any reason why we can't return to growth," Tsakalotos said, adding that the newly elected Greek government...

Greek Economy Minister Stathakis Unveils Plans for Borrowers' 'Safety Net'

Laws creating a permanent "social security safety net" to support vulnerable bank debtors will be prepared by next November, Economy, Development and Tourism Minister George Stathakis said in an interview with the Sunday edition of the newspaper "Ethnos". Outlining the...

Greece Eases Capital Control Restrictions to Aid Students and Soldiers

The Greek Finance Ministry has decided to ease the restrictions imposed on Greek citizens due to capital controls that were put in effect a few months ago. According to the official ministerial decision published in the government gazette, each applicant...

Greek Banks Face Four Main Challenges, Bank Association Head Says

Chairwoman of the Hellenic Banks Association Louka Katseli said that Greek banks face four major challenges before they return to normality. Katseli, who is also head of Bank of Greece, spoke at a business event organized by the Hellenic British...

Euro Working Group President Warns 3 Bln Euro Bailout Funds Tied to Reforms

Euro Working Group President Thomas Wieser  has illuminated what Greece needs to do to receive additional funds from the bailout in the short term. During an interview with Bloomberg on Tuesday, Wieser stated that Greece's new 86 billion euro bailout agreement, has...

European Central Bank Further Lowers Emergency Liquidity Assistance to Greece

The Bank of Greece announced on Thursday that the Governing Council of the European Central Bank decided on Wednesday to decrease the Emergency Liquidity Assistance level for Greece from 88.9 billion euros to 89.1 billion euros. “This 0.2 billion euro reduction in...

Greek Finance Ministry to Loosen Up Capital Controls

The Greek finance ministry will add some new measures regarding capital flow that would loosen up certain restrictions that apply now. In order to give initiatives to Greeks to return to the banks the money they keep hidden, the finance...

Private Investors Should Participate in Share Capital Increases of Greek Banks

Private investors should participate in the new share capital increases of the Greek banks and avoid the scenario of nationalization, a senior official of the country’s central bank said on Tuesday, following a meeting between Greek Finance Minister Giorgos...

Bad Loans in Greek Banks Reach 45%, Debtors Resume Regular Repayments

Bad loans in Greek banks have reached 45 percent of loans after capital controls were imposed at the end of June, says a Kathimerini report. The percentage of bad loans was 40.8 at the end of the first quarter of...

Red Loans Pose Threat to Greek Banks Restart

"Bad loans haunt Greek Banks Seeking New Start" is the title of a Reuters report regarding the plight of the banking sector in Greece's economic crisis. After 40 billion euros of deposit outflows and three weeks of closed doors and...