Greek Banks

Use of plastic money in retail has almost tripled since the imposition of capital controls in the country, with credit institutions issuing more than 1.1 million debit cards in the period from the end of June until early August. Previously,...

European Central Bank President Mario Draghi discussed the possibility of the ECB purchasing Greek bonds, during a press conference in Frankfurt on Thursday. Draghi clarified that for the ECB to purchase Greek bonds, whose low credit rating does not fulfil the ECB's credit rating requirement,...

The European Central Bank Governing Council decided on Thursday to reduce the Emergency Liquidity Assistance to Greece down to 89.1 billion euros. The approximately 600 million euro decrease comes after a first 700 million euro decrease in August. Greek banks are expected...

Greek depositors will possibly avoid a haircut when Greece will have to implement the Bank Recovery and Resolution Directive (BRRD), Fitch Ratings said in a report on Wednesday, warning however that this will only happen if the directive is...

Greek banks lost 39.4 billion euros in deposits between January and July. The Bank of Greece (BoG) announced on Thursday that Greek households withdrew 1.43 billion euros from Greek banks in the month of July, thus lowering the total Greek bank deposits to...

Greek Economy Minister Giorgos Stathakis said on Wednesday steps are taken to ease bank restrictions and normalize imports and exports, adding that capital controls will be lifted “very soon.” Speaking at a press conference, Stathakis said talks are continuing with...

Greek stocks nosedived 10.54% on Monday, with investors spooked by the losses in global markets, the slowdown in China and growing uncertainty over Greece's snap elections. The composite index sunk below 600 points to its lowest level since June...

Speaking in parliament on Thursday, Greek Finance Minister Euclid Tsakalotos referred to a series of factors that will restore the credibility to the Greek banking sector. Tsakalotos urged Greeks to trust the banking system and return their money to the banks....

Greek finance Minister Euclid Tsakalotos announced new adjustments to the capital controls on the Greek economy. Capital controls have restricted transactions and liquidity in Greece since June 28, a day after the July 5 referendum was officially announced. Since then, the...

Germany's Central Bank, the Bundesbank, expressed an optimistic outlook on the Greek economy on Monday, Reuters reported. The Eurogroup agreed to a three-year 86-billion-euro bailout deal on Friday. The German parliament will vote to approve the bailout program on Wednesday, with the result of...