Greek Banks
Economy
First 2,000 Greek Homes Auctioned in September
The first 2,000 houses of uncooperative debtors will be auctioned as of September 15, with the number going up to 5,000 within the next months.
Greek banks have already prepared the files of 2,000 real estate properties. According to bank officials,...
Economy
Sklavenitis and Banks Bail Out Marinopoulos Supermarket Chain
Sklavenitis, a major Greek supermarket chain, has stepped in to throw a lifesaver to Marinopoulos after it filed for bankruptcy in June. Alpha Bank and Eurobank approved the rescue plan that hopes to keep 12,500 employees on the Marinopoulos...
Economy
Greeks Owning Credit Cards are 60% Less than Before Economic Crisis
The poor creditworthiness of most Greek citizens puts on hold the finance ministry's plans to give incentives for the use of credit cards as part of the campaign to fight tax evasion.
Despite the increase in the use of plastic...
Economy
4.5 Bln Euro Deposited in Greek Banks in Two Months
Deposit inflows to Greek banks reached 4.5 billion euros over the last two months, namely after May 24 – the date of the Eurogroup that approved the Greek program evaluation - until late July.
According to the Greek newspaper Kathimerini,...
Economy
Greek Finance Minister Further Relaxes Capital Controls
Greek Finance Minister Euclid Tsakalotos has further relaxed capital controls with a decision published in the government gazette on Friday. This was the 11th ministerial decision referring to capital controls, in addition to two Acts of Legislative Content, issued...
Economy
Ease of Capital Controls Could Bring €2-3 Bln Cash Inflow to Greek Banks
The proposed plan to ease capital controls could bring an immediate 2-3 billion euros cash inflow to Greek banks if implemented, bank officials estimate.
Creditors on Monday agreed provisionally on the proposal submitted by the Bank of Greece for the...
Economy
ECB Lowers Cap on Emergency Funding for Greek Banks by 2.5 Billion Euros
The European Central Bank (ECB) lowered the cap on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank by 2.5 billion euros to 58.6 billion euros, the Bank of Greece (BoG) said on Thursday.
The move reflected...
Economy
Bank of Greece Chief Heralds Easing of Capital Controls for New Depositors
The easing of capital controls is so that people who keep their money at home would deposit them to banks, said Bank of Greece governor Yiannis Stournaras.
The BoG chief spoke to German financial newspaper Handelsblatt saying that the withdrawal...
Economy
Fitch: Capital Controls Could Ease in Greece From Late 2016
Capital controls could be gradually relaxed from late 2016 if the political landscape remains stable and Greece continues to implement the reforms envisaged in its economic adjustment program, Fitch Ratings said in a press release on Wednesday.
The agency added...
Economy
ECB Dashes Greek Hopes on Lifting 'Waiver' on Greek Bonds
All eyes were on the European Central Bank's (ECB) June policy meeting in Vienna on Thursday. Great expectations resulted in disappointment regarding Greece with the central bank holding back from allowing Greek banks to resume access to cheap loans.
Meeting...