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Greece Eases Capital Controls, Raises Cash Withdrawal Limit

The Greek government has announced a further easing of capital controls effective from Friday. The withdrawal limit from bank accounts will be raised to €2,300 ($2,870) from the current limit of €1,800 per month and restrictions on opening new accounts...

IMF's Lagarde: Greece Now Better Equipped for Economic Growth

Greece is now better equipped to achieve economic growth in the future after the structural reforms it has implemented due to the bailout terms, the head of the International Monetary Fund (IMF), Christine Lagarde, told German broadcaster ARD. "We can...

'I Would Rather Demolish it!' Anger in Greece as Foreclosure Auctions Gather Pace

Increasing number of indebted Greek homeowners express concern about the fate of their property, despite assurances by the Greek government that primary homes will be protected. Foreclosure e-auctions, is perhaps the theme that could dominate the Greek political and social...

Eurogroup Chief: We Saved the Greek Banks but Overlooked Taxpayers

Outgoing Eurogroup chief Jeroen Dijsselbloem acknowledged on Thursday that Greece’s creditors put too much emphasis on saving the banks at the expense of ordinary taxpayers. In an exchange of views on Greece in the European Parliament's Employment and Social Affairs...

Greek Tax Authority Gets Data from Bank Deposits Abroad

The Independent Public Revenue Authority is expected within September to receive data on bank accounts held by Greek citizens in 49 countries. In exchange, Greek banks will send the data to the tax authorities of partner countries on accounts held...

New Development Bank will Fund Infrastructure Projects

The Greek government will set up a development bank to fund infrastructure projects, start ups, small businesses and export oriented companies, the government's economic policy council announced on Friday. The Hellenic Development Bank will be a state lender that...

2017's Low Deposit Rate Has Brought a 'Credit Negative' Event to Greek Banks, Moody's Says

Since the beginning of 2017, Greek bank deposits have been down, causing the international rating agency, Moody's, to call the first couple months of the year a "credit negative" event for Greece. Back in January, the Bank of Greece (BoG)...

BoG: Deposits in Greek Banks Fell €1.5 Billion in January

Greek banks' deposits by individuals and enterprises fell 1.5 billion euros in January to 119.7 billion euros, from 121.4 billion in December 2016, the Bank of Greece said on Tuesday. The central bank, in a report, said that corporate deposits...

Sale of Eurobank's Ukrainian Unit Completed

On Tuesday, Reuters reported that the sale of Greece's Eurobank unit of the Ukrainian Universal Bank to Ukraine's financial group TAS has been completed. The transaction is reported to have completed on December 23 and was in line with Eurobank's...

Greek Banks’ ELA Funding Drops by €1.3 Billion in November

Data released by the Bank of Greece (BoG) on Tuesday shows that in November of 2016 the country's emergency bank funding (ELA) dropped some 2.8 percent, or €1.3 billion. The most recent numbers from the BoG show that the emergency...