European Central Bank (ECB)

ECB Lowers Emergency Funding Cap for Greek Banks to €45.3 Billion

On Thursday the Bank of Greece (BoG) announced that the European Central Bank (ECB) has lowered the emergency funding cap for Greek banks to 45.3 billion euros. The emergency funding has been a life line to Greek banks as they...

ECB: Greece Forecasted to Achieve Growth Rate of 0.1% of GDP in 2016

The European Central Bank (ECB) forecasts that Greece will achieve a growth rate of 0.1 percent of GDP in 2016, in the Eurosystem staff macroeconomic projections for the euro area countries posted on its website on Thursday. Growth rates in...

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...

Greeks Still Opting to Hide 'Mattress Money' Instead of Depositing in Banks

It appears that the Greek government lifting controls this summer on new money entering bank accounts has done very little to actually impact the growth of deposits in banks, the Bank of Greece (BoG) says. According to the latest numbers,...

Borrowing Ceiling for Greek Banks Reduced 0.2 Billion Euros by ECB

  European Central Bank lowered the borrowing ceiling for Greek banks from the ELA mechanism by 200 million euros, the Bank of Greece said on Thursday. In a report the central bank said that on 16 November 16, 2016 the Governing...

European Central Bank Lowers ELA for Greece Ahead of Eurogroup

The European Central Bank (ECB) has lowered the borrowing ceiling to Greek banks by 300 million euros on Thursday. The Emergency Liquidity Assistance mechanism (ELA) was lowered to 69.1 billion euros on Thursday, the ECB said after accepting a request made...

ECB, IMF, ESM and European Commission Release Joint Statement on Greek Program

The European Commission, the European Central Bank (ECB), the International Monetary Fund (IMF) and the European Stability Mechanism (ESM) released a joint statement on Thursday on the Greek program and debt sustainability: "The institutions and the Greek authorities have made important...

ECB President: Greek Economy Backslided in 2015

Greece has made reforms in the past few months but its economy backslided in 2015, said European Central Bank (ECB) President Mario Draghi. In an interview to German newspaper Bild, the ECB chief was asked why Greece has not been able...

European Central Bank Decreases ELA Ceiling for Greece

The European Central Bank (ECB) has decided to further lower the ceiling for Emergency Liquidity Assistance to Greece, the Bank of Greece (BoG) revealed. The new ceiling now stands at 86 billion euros. “The reduction of 0.9 billion euros in...

Finance Μinistry, Greek Banks Say they're Positive About Results of Recapitalization

Greece ’s finance ministry and the country’s main lenders expressed on Sunday their optimism about the outcome of the third bank recapitalization, following the announcement of the results of European Central Bank’s stress tests on Saturday. Banks are now...