HFSF
Economy
Milk Fight Rebels Relent, Bill Passage Seen
Backed by a warning from its international lenders that the next installment would be yanked if there are any changes to an omnibus bill going before the Greek Parliament on March 30, the government has brought would-be rebels upset...
Greece
Greek Bank Chief Defends Stress Tests
Bank of Greece chief George Provopoulos said a stress test conducted on the country's four ailing major banks deliberately was conservative on how much they would need in recapitalization funds so investors wouldn't be scared off.
While the tests for...
Economy
Eurozone Squeezes Greece For Troika Deal
While praising Greece publicly for making progress on reforms, Eurozone finance chiefs privately told Finance Minister Yannis Stournaras they are disappointed at the lack of progress and pressured him to come to terms with international lenders by March 14.
During...
Economy
Greek Banks May Need More Cash
While insisting the economy shows all the signs of recovering - as he has previously said the last several years only to be proved wrong - Bank of Greece Governor Giorgos Provopoulos issued a caveat that the country's banks...
Crime
Greek Scandal Bank Ex-Chief Caught in Turkey
As a probe into bad loans given out by the state-run Hellenic Postbank (TT) has allegedly discovered a widespread ring of officials handing out money to businessmen who pocketed it, the institution's former President, Angelos Filippides was arrested in...
Business
Samaras Tells Banks To Start Lending
With the Greek government moving to recapitalize and stabilize banks, Prime Minister Antonis Samaras told the heads of the four biggest financial institutions that they should start lending against to to help ease the shortage of liquidity and boost...
Business
Eurobank Acquires Postbank Too
The troubled private bank Eurobank is expected to take over the more troubled state financial institution Hellenic Postbank, the country's banking stabilization agency HFSF said. The new operation will be called New Postbank (NTT).
The HFSF and Eurobank will cooperate...
Economy
Bank of Greece Completes Capital Hike
The National Bank of Greece has raised collects private funds of at least 1.1 billion euros, ($1.47 billion) increasing its capital without issuing contingent convertible bonds (CoCos).
As newmoney.gr reports, the National Bank of Greece approached its target to cover...
Economy
Greece Will Sell Troubled Proton, Postbank
Two of Greece's shakiest banks, Hellenic Postbank and Proton, will have to be sold by mid-July as the country's largest banks continue gobbling up smaller institutions as part of plans to help the beleaguered economy begin to recover, envoys...
Economy
NBG OK's Bank Recapitalization Plan
The National Bank of Greece (NBG) has approved has approved a recapitalization plan worth 9.76 billion euros ($12.8 billion), insisting it will raise enough money privately to avoid nationalization after Eurobank failed to do so. Greece's banks were brought...