Cypriots Frantic As Bailout Hits Bank Accounts

Angry Cypriots who weren’t notified that up to 9.9 percent of their bank deposits would be seized by the newly-elected Conservative government to help...

First Bitcoin ATM in Greece Promises Limitless Transactions Amidst Capital Controls

The first 2-way bitcoin ATM was inaugurated in downtown Athens on Saturday at The Cube, a coworking space that houses several innovative startups. And...

The Needs of Suffering Greek Banks Analyzed in Future Stress Tests

The recapitalization needs of Greece's systemic banks will be determined in the next few days after finalizing the results of current stress tests, with...

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...

Alpha Bank Sheds 21% of Staff Via Voluntary Exit Plan

Greece's fourth-biggest bank, Alpha Bank, announced on Monday that approximately 21% of its 10,000 employees will enter a voluntary exit plan that was launched last month, aiming to cut...

Greek Banks Face Two More Years of Recession

Even as the Greek government touts a coming primary surplus and predicts the beginning of a recovery next year, The Governor of the Bank...

Reports Say Greek Banks to Axe Up to 4,000 Jobs in 2019

Greek banks are expected to cut up to 4,000 positions during the year 2019, various outlets in the Greek media reported on Monday. Most of...

Cypriot Bank Chief Says Money Won’t Flee

While Cyprus is keeping a tight rein on depositors and limiting how much they can take out of the bank, apart from those who...

New Democracy MP Bakoyiannis Fears Capital Controls in Greece

New Democracy MP Dora Bakoyiannis said she fears that Greece may be forced to enforce capital controls if no deal is reached by the coming three-day...

Report: Surge in New Debit Cards in Greece Since Capital Controls

The capital controls that are in effect in Greece as of June 28 and the three week closure of Greek banks, have caused a significant...

Greek Banks Resume T-bill Interbank Transactions

Greek banks have resumed T-bill transactions in the interbank market after a long period of exclusion, a Kathimerini newspaper report says. According to the report,...

Changes in Credit Consolidation System

The government and Greek banks are considering a change of rules governing the operation of the Tiresias Credit Consolidation System, by introducing a more flexible system...

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