ELA
Economy
ECB Raises Emergency Liquidity Funding to Greek Banks
The European Central Bank (ECB) on Friday raised the ceiling of emergency liquidity assistance (ELA) provided to Greek banks.
Despite yesterday's dismissal, the Bank of Greece was forced to ask in an emergency teleconference on Friday the increase of the...
Economy
ECB Increases Greek Banks' ELA by a Hefty 2.3 Billion Euros
The European Central Bank (ECB) is said to have significantly increased the ceiling of emergency liquidity assistance (ELA) provided to Greek banks on Wednesday by 2.3 billion euros.
According to Greek media, during a teleconference of the central bank’s board,...
Economy
ECB Raises Greek Banks' ELA Ceiling by 500 Million Euros
The European Central Bank (ECB) has increased the Emergency Liquidity Assistance (ELA) provided to Greek banks by 500 million euros, to 80.7 billion euros from 80.2 billion, news agencies reported on Tuesday.
According to the same reports, Greece's cash buffer...
Economy
How Greece’s Liquidity Problem Could Cause an Unplanned Grexit
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By Panicos O. Demetriades, University of Leicester
As Greece moves from one repayment deadline to another, you can be forgiven for thinking that the country’s main daily challenge is finding the money to pay its public sector workers and meet its...
Economy
ECB Maintains Greek Banks' Liquidity Limit Amid Talk of Capital Controls
The European Central Bank (ECB) board of directors decided on Wednesday to maintain the limit through the emergency liquidity assistance (ELA) scheme to 80.2 billion euros.
In the past few weeks, the ECB kept providing liquidity to Greek banks through ELA. Last week,...
Economy
7-Billion-Euro Deposits Outflow from Greek Banks
Deposits outflow from Greek banks continued in April, reaching a total of 7 billion euros, according to Bloomberg. However, the European Central Bank (ECB) increased its emergency liquidity assistance (ELA) in order to support the Greek banks.
“The ECB’s Governing Council opted...
Economy
ECB Raises Greek Banks' ELA Ceiling to €80 Bln
The European Central Bank (ECB) decided on Tuesday to raise the lending cap for Greek banks via the Emergency Liquidity Assistance (ELA) mechanism by 1.1 billion euros, bringing the ceiling to 80 billion in total, sources said. The decision was...
Economy
ECB Approves Additional 2 bln Euros to Greek Banks Through ELA
European Central Bank on Wednesday approved an additional two billion euros in liquidity to Greek banks through the Emergency Liquidity Assistance (ELA) mechanism of the Bank of Greece, raising the mechanism’s ceiling to 78.9 billion euros, from 76.9 billion...
Economy
Greek Βank Deposit Οutflows Eased in March
Greek bank deposit outflows showed a significant decrease in March, reducing fears regarding the country’s banking system that has suffered a shock by the enormous fund outflow recorded during the past few months.
According to the European Central Bank’s (ECB)...
Economy
Draghi Dismisses Talk of a Greek Default
European Central Bank (ECB) President Mario Draghi dismissed fears of a possible Greek default. Asked about a Greek default during a regular news conference in Frankfurt on Wednesday, Draghi said: "I don't even want to contemplate that. And based on the...