Would Greek Banks Survive a Global Financial Crisis?
The shares of Greek banks took a hit on Wednesday following fears of a global meltdown after the troubles of banking giant Credit Suisse. Piraeus Bank and Alpha Bank closed with losses of 10.98 percent and 10.39 percent respectively, with...
Bank of Greece Forecasts 4.2% Growth for 2021
The Bank of Greece reiterated a 4.2% growth forecast for 2021, but warned that the Greek economy is facing a large number of bankruptcies
Worst-Case Scenario for Greece is Eight Percent Recession, Says BoG Chief
Estimates of a ten percent economic contraction this year were excessive, Bank of Greece (BoG) governor Yannis Stournaras said on Tuesday, while noting that he still expected the country’s GDP to shrink by 8.0 percent under the worst-case scenario. Speaking...
Bank of Greece Chief Foresees Growth Over Three Percent After 2020
Bank of Greece governor Yannis Stournaras said on Thursday in a speech in the United States that growth rates could rise higher than three percent after 2020, given the right conditions. Speaking at an event sponsored by the Stavros Niarchos...
Greek Parliament Rescinds Immunity for Former Minister Polakis
The Greek parliament on Wednesday voted to rescind the parliamentary immunity of former minister Pavlos Polakis, who has been accused of illegally recording a private telephone conversation with Bank of Greece Governor Yannis Stournaras. Polakis, a controversial deputy Health Minister...
PM Tsipras' Pre-Election Handouts Alarm Greece's Creditors
Greek Prime Minister Alexis Tsipras is slated to give out one billion euros in various types of handouts as the crucial European and local elections loom ahead, a move which has alarmed the country's creditors. European Stability Mechanism President Klaus...
Greek Minister Accused of Illegally Recording Phone Call with Central Banker
Bank of Greece Governor Yannis Stournaras on Tuesday called for the intervention of judicial authorities over the recording of a telephone call with a government minister which was leaked to a news site. In an angry press release, Stournaras called...
Lawmakers Drop Audit of Bank of Greece Governor's Assets
The audit case of Bank of Greece governor Yannis Stournaras' source-of-wealth declarations has been shelved, the Greek parliament's Review Committee on Asset Statements revealed on Wednesday, following no proof of irregularity. In a statement, the committee said that "following a...
Greek Central Bank Calls for Post-Bailout Credit
Greece's central banker said on Monday he supports establishing a precautionary credit line for the country after it exits its third adjustment program in the summer. Speaking at an event organized by the Hellenic-Spanish Chamber of Commerce on the future...
Central Bank Proposes Post-Bailout Support Programme for Greece
Bank of Greece governor Yannis Stournaras, is worried about a potential gap in Greece's funding after the country's apparent exit from the existing bailout programme. The bank published a report on Thursday, saying that the country's foreign creditors need to...