Greek Banks

After a month of capital controls in Greece, the country's Finance Ministry has lifted some transaction restrictions. Among the most significant ones is the reinstatement of online transactions with foreign companies. Greek cardholders will now be able to use debit and credit cards for internet...

Ratings agency Moody’s said on Monday that uninsured depositors in Greek banks are in danger of losing some of their money in case of a bank’s insolvency. Moody’s noted that the changes in the EU Bank Recovery and Resolution Directive, which was legislated in...

Bank deposits in Greece fell to 127.5 billion euros in June, whereas in May 2015 they amounted to 135.7 billion, according to data released by the European Central Bank (ECB). Furthermore, Reuters noted that this is the lowest level in...

The capital controls imposed on Greek banks three weeks ago may be in place for months until the country’s European partners provide fresh money to the banks. According to Reuters, the rehabilitation process for Greek banks could continue for months. "Rehabilitating...

Wiretapped tax identification numbers, hacking, secret accounts for each Greek taxpayer and banks that could operate with euros but instantly change to a drachma-based system were just some of the surreal proposals included in former Greek Finance Minister Yanis...

A new ministerial decision regulating certain problems that emerged after capital controls were imposed on Greek banks, will facilitate money transfers for businesses. However, the decision did not include measures about checks. According to a senior official in the Greek...

Bank of France Governor and European Central Bank (ECB) Governing Council member Christian Noyer estimates that a first "injection" of capital into Greek banks would be "desirable to stabilize the sector" before the end of the summer, rather than after the results...

According to reports, the European Central Bank (ECB) Governing Council decided on Wednesday to raise Emergency Liquidity Assistance (ELA) to Greek banks by another 900 million euros. The ECB had raised the ELA cap by the same amount a week ago. If...

Greek banks reopened on Monday after a three-week shutdown and imposition of capital controls. However, capital controls are still in effect with a 60-euro daily limit in withdrawals. Basic services will resume in banks but account holders cannot withdraw money from credit...

After Deputy Finance Minister Dimitiris Mardas announced that banks will open on Monday, the Greek government issued a Legislative Content Act that delineates the new rules and restrictions for capital controls. Though the daily withdrawal limit will remain at 60 euros per...