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European Central Bank

Draghi: ECB Waiting for Measures That will Make Greek Debt Sustainable Long-Term

The European Central Bank (ECB) is waiting for the measures that will make Greek debt sustainable in the long-term in order to decide on Greece's participation in the quantitative easing program, central banker Mario Draghi said on Monday, testifying...

European Official Expresses Sadness Over Terrorist Attack Against Former PM Papademos

European Central Bank Governor Mario Draghi expressed his sadness and sympathy on behalf of himself and all of the staff at the bank for former prime minister Lucas Papademos, following the terrorist attack against him on Thursday, according to...

Eurogroup on April 7 to Discuss Progress in Talks Between Greece and Institutions

Eurozone's finance ministers will be briefed on April 7 on the progress achieved in the ongoing negotiations between Greek authorities and the institutions on the second program review after the last meeting in March, according to the agenda of...

Greeks Withdraw €4 Bln in 2017 Amid Economic Uncertainty

Greeks withdrew 4 billion euros from banks since the beginning of the year amid the uncertainty generated by the stalling of negotiations om the bailout program review. At the end of 2016, total deposits of government, businesses and households in...

Where are the Greek State Gold Reserves Stored?

The Greek State gold reserves amounting to 149.1 tons are stored in Greece, Britain, the U.S. and Switzerland, according to the Bank of Greece. BoG assures Greek citizens that the 149.1 tons of the country's gold reserves worth 5.3 billion...

Berlin Takes Initiative to Facilitate Greece's Participation in QE Program

German Chancellor Angela Merkel has taken the initiative to help Greece enter the European Central Banks' quantitative easing (QE) program, provided that Athens agrees to implement fiscal measures amounting to 2% of GDP, a Kathimerini report says. According to the...

BoG: Greek Economy Could Grow by 2.5% in 2017

The Greek economy could grow by 2.5 % this year on conditions, the Bank of Greece said in its Annual Report, presented by governor Yiannis Stournaras on Friday. Based on current data, the country's primary surplus in 2016 is expected...

Investors Worry About New Greek 'Accident'

Investors worry about a new Greek "accident" in view of bond payments due in the summer, as the bailout program review has stalled and Greece is unlikely to receive the next loan tranche on time, a Reuters report says. Indicative...

ECB's Draghi: Debt Sustainability and 2nd Assessment for Greece to Join QE

Speaking today at the economic and monetary affairs committee at the European Parliament in Brussels, ECB president Mario Draghi stated that the sustainability of the Greek debt and the completion of the second assessment are prerequisites for Greece to...

ECB: Greeks Lost 40% of their Wealth During Economic Crisis

Greeks lost 40% of their wealth in the years of the economic crisis, says a European Central Bank survey. The concentration of wealth among the richest households in the euro zone countries has increased since the debt crisis, although wealth...