European Central Bank
Economy
Europe Sends 5-Day Ultimatum to Greece
Wednesday's emergency Eurogroup will be crucial for Greece as its European partners will judge the country's proposal for a new bailout program.
The new Greek government has five days to come up with a new, satisfactory financial aid plan as...
Economy
BoG Governor Stournaras: ECB's Decision Can be Lifted
The Governor of Bank of Greece (BoG) and former Finance Minister Giannis Stournaras appeared confident today that the Greek banks' liquidity is absolutely guaranteed and that the deposits are completely secured.
In a meeting with the SYRIZA-led government Vice President,...
Economy
ECB to Provide €60 Billion in Emergency Funding to Bank of Greece
The European Central Bank will allow Bank of Greece to provide as much as 59.5 billion euros in emergency funding for the country's lenders, an ECB official familiar with the decision said in a Bloomberg report.
The measure is needed...
Greece
Greece Reacts to ECB Decision to Not Accept Greek Bonds
The Greek government reacted to the European Central Bank's decision to stop accepting Greek bonds as collateral for its liquidity operations on February 11 and Athens announced that it will stay true to the popular mandate and will not...
Economy
FT: 'European Central Bank to Reject Greek Bailout Plans'
The European Central Bank is unwilling to raise Greece’s Treasury bill issuance ceiling from the current 15 billion euros to 25 billion euros, according to a report in the Financial Times.
The financial newspaper cites two European officers involved in...
Economy
What Happens After the Proud Greek 'No?'
One week after the election and Greece is still reveling in the people's victory, the liberation from the occupying forces of evil Europe, wallowing in the wild joy of the proud "no" the new leftist government said to the...
Economy
European Commission Seeks Alternatives to Replace Troika
President of the European Commission Jean-Claude Juncker is seeking alternatives to replace the troika of Greece's international creditors, a Handelsblatt report says.
According to the German financial newspaper, the European Commission is looking to abolish the troika of representatives of the EC,...
Economy
Greek FinMin Varoufakis from Paris: I Will Meet Schaeuble
The Greek Finance Minister, Υianis Varoufakis met with his French counterpart, Michel Sapin earlier today, while visiting Paris. In a joint press conference given by the two ministers, Mr. Sapin underlined that the two countries share common beliefs, including...
Economy
Goldman Sachs: Govt-Troika Agreement More Important to Reducing Borrowing Costs Than ECB Decision
Quantitative easing, announced on Thursday by European Central Bank President Mario Draghi, is not going to be as influential in reducing Greece's borrowing cost as will an agreement between the government formed after Sunday's national elections and the Troika of...
Economy
ECB President 'Corners' Next Greek Gov't Tying QE to Good Behavior
The European Central Bank set conditions for Greece in order to access the announced bond-buying program. The next Greek government will have no access to the Quantitative Easing program for at least six months unless they heed the demands...