Greece
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European Central Bank

A Grexit Would be 'Extremely Dangerous,' ECB Official Says

A Greek exit from the euro zone would be an "extremely dangerous" move for the country and a danger for the rest of Europe as well, European Central Bank policymaker Ewald Nowotny said, according to Reuters. Nine days away from...

Two Greek Banks Request Emergency Liquidity Assistance

Two major Greek banks have submitted requests to the Bank of Greece for cash via the emergency liquidity assistance (ELA) system on Thursday, according to Kathimerini daily. The move of the two banks came after the pressing liquidity conditions resulting from the...

SYRIZA Will Need EU/IMF Approval to Use T-Bills, Fin Min Says

SYRIZA will need EU/IMF approval to use Treasury bills to cover Greece's funding needs, if the leftist party comes to power, the Ministry of Finance said on Monday. This comes as an answer to Alexis Tsipras, the party leader, who...

BoG: Deposit Outflows from Greece Under Control

Bank of Greece said on Sunday that deposit outflows from the country are under control, in an effort to reassure markets two weeks before snap elections. With SYRIZA leading steadily in opinion polls, there have been many news reports in...

Euro Sinks Near 30-Month Low Due to Political Developments in Greece

The Eurozone currency hovers near a 30-month low against the US Dollar today due to the uncertainty spread in the union by the developments in the Greek political scene. The Greek Parliament yesterday failed for a third consecutive ballot...

IMF Suspends Greece's Funding, Talks to Resume After Snap Elections

The decision of the International Monetary Fund (IMF) to suspend the provision of financial assistance to Greece until a new government is formed, after the general elections of January 25, was revealed by the Fund's Director of the Communications...

Bank of Greece Refutes German Daily Report About Troika's Threat to Stop Liquidity

The Bank of Greece refuted earlier today a report by German financial newspaper Handelsblatt that the troika of international lenders gave an ultimatum to Greece that the European Central Bank will stop liquidity to Greek banks unless Athens and...

ECB's Draghi Says Greece Reaping Reform Benefits

AP - European Central Bank President Mario Draghi says Greece is starting to reap the rewards from its wide-ranging economic reforms. Addressing lawmakers of the European Parliament on Monday, Draghi highlighted the fact that Greece was the fastest-growing economy in...

Geithner: Europeans Wanted to Crush the Squandering Greeks

Former U.S. treasury secretary Timothy Geithner said that in 2012 "Europeans wanted to crush the squandering Greeks," according to The Financial Times. In 2012, Geithner had met with ECB President Mario Draghi to discuss the threat of the economic crisis...

Bad Loans Amendment Tabled by Outgoing Minister

Nikos Dendias tabled his last regulation as Minister of Development earlier today. He was later sworn before the Archbishop of Athens and All Greece Ieronymos as the new National Defense Minister replacing Dimitris Avramopoulos. The amendment regards bad business loans...