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Bank of Greece (BoG)

BoG Governor: Uncertainty Threatens to Negate Sacrifices of Greek People

Uncertainty threatens to derail the Greek economy and even negate the huge sacrifices made by the Greek people in previous years, said Bank of Greece (BoG) Governor Yannis Stournaras, addressing a conference on the real estate market. In his speech,...

Another €2 Bln in Bad Loans Added in Jan-Feb

Greek bankers estimate that the amount of non performing loans created in the first two months of 2015 amount to 2 billion euros. This is twice the amount of new bad loans created in the last two months of 2014,...

Greek Govt Seeking Liquidity Assistance from Social Security Funds, Hospitals and Farmers

His belief that there are alternative solutions to liquidity problems in March expressed a senior Greek financial official just before the Government Council for Economic Policy meeting that was earlier concluded under the presidency of government Vice President Giannis Dragasakis....

BoG Governor: We Must Conclude a Mutually Beneficial Agreement with Partners

Bank of Greece (BoG) Governor and former Finance Minister Giannis Stournaras has warned the Greek government that a final agreement with the country's loan partners should soon be reached in order to avoid a frightful setback to the country's economic...

JP Morgan: Greek Banks' Deposits Outflow Reached 3 Bln Euros Last Week

The Greek banks' deposits outflow during last week -and before Friday's Eurogroup deal on the loan agreement four-month extension reached between the Eurozone's Finance Ministers and their Greek counterpart Yanis Varoufakis- amounted to a total of 3 billion euros, according...

Bank Deposits in Greece Reach Two-Year Low in December

A new two-year low reached bank deposits in Greece in December, as Greeks withdrew some 4.6 billion euros in a period stigmatized by political uncertainty due to the unsuccessful election of a new President of the Hellenic Republic and...

Seven Billion Euros Transferred Outside of Greece Since Elections Announcement

Some seven billion euros have been transferred out of Greek banks since late December, when the Parliament failed to elect a new President of the Hellenic Republic and snap general elections were announced, according to banking sources. The pressure...

Greek FinMin Hardouvelis Warns Over Economy Dropback due to Stalled Review

Greece's Finance Minister Gikas Hardouvelis warned that the country's economy could suffer a significant drop back into recession if the Greek bailout program review remains stalled. In an interview with the Sunday edition of Greek newspaper "Kathimerini," Hardouvelis pointed...

Greek PM and SYRIZA Pledge to Find Solution on Swiss Franc Loans Issue

The Swiss National Bank's move to lift the support of the Franc's exchange rate against the euro has caused a major upheaval and panic. Following the SNB announcement, panic prevailed in the markets with the Swiss currency strengthened by about 30% against...

Greek FinMin: ECB Won't Provide Liquidity if Bailout Program Is Incomplete

His worries that the European Central Bank (ECB) will not provide the usual liquidity it offers to the Greek banks if the Greek bailout program is not complete, expressed earlier today the Greek Finance Minister, Gikas Hardouvelis. The liquidity...