Bank of Greece
IMF presses for Greek debt relief as Eurogroup meets
Fund official says decision must be taken on debt relief before IMF will consider providing new funds; leaked document suggests ECB and Commission are concerned about sustainability
Greek memo reveals commitments necessary to access bailout funds
Leaked document shows string of ‘prior actions’ government must complete before it can access up to €86 billion of euro funds
Central Banking poll respondents back 'Grexit'
In a narrow majority 87 out of 155 readers say Greece should adopt a new national currency; asked about a variety of monetary systems, most backed a free-floating regime
Greek deflation continues to bite
Official data shows prices falling by 1.3% in July while house prices continue a steep decline
Greek swaps contract drama continues
Ongoing controls mean some end-user payments are more than a month overdue
Greek lessons for central banks acting as lenders of last resort
Is it appropriate for a central bank that also acts as lead financial supervisor to act as a lender of last resort at a time when its actions are becoming quasi-fiscal in nature? By Ludek Niedermayer
ECB raises concerns over Greece’s draft resolution law
Hastily assembled legal opinion on draft law warns of possible detrimental effects on the Bank of Greece, including impact on independence, increased liability and ‘operational burden’
ECB lifts veil on ELA as it raises Greek cap
No action on monetary policy but governing council extends further lifeline to Greek banks; Draghi admits policy of keeping emergency liquidity secret is unnecessary in a systemic crisis
Greek paper shows ‘vicious circle’ between political corruption and tax evasion
Working paper finds ‘strategic complementarities’ between citizens and politicians in model, noting ‘strong moral values’ can help boost policies aimed at deterring tax evasion
Varoufakis out as Greeks vote No
Greek finance minister steps down despite 62.5% of voters backing the government’s position by rejecting the latest proposals; Eurogroup says ball in Greece’s court
IMF analysis calls for Greek debt relief
Analysis encourages European lenders to double grace and maturity periods on existing loans while providing two-thirds of another €52 billion in financing to keep Greece afloat
Varoufakis to stand down if Greeks vote 'Yes'
Greek finance minister says he will quit if the public votes to accept the latest terms offered to Greece in the July 5 referendum; demands debt restructuring as part of any deal
Greek PM offers concessions but backs referendum
Leaked letter suggests Alex Tsipras is willing to accept many of the latest proposals in exchange for a new bailout programme; European leaders awaiting outcome of July 5 referendum
Juncker tells Greece to vote ‘yes’ in referendum
European Commission head Jean-Claude Juncker calls on Greeks to vote in favour of latest proposals, urging them not to ‘commit suicide because one is afraid of death’
Greek banks shut for a week as ECB freezes emergency fund
Banks closed and ATM withdrawals capped after the ECB's governing council freezes the supply of emergency liquidity; Greek government calls referendum on latest proposals for July 5
Weidmann warns Greek ELA could raise ‘serious monetary financing concerns’
Bundesbank president says the ongoing provision of emergency funds to Greek banks will be a problem if the cash is used to buy sovereign debt
Eurogroup president looking for Greece deal ‘in next couple of days’
Jeroen Dijsselbloem says new Greek proposals are a ‘positive step in the process’ of the bailout review in a short press conference; government heads next to meet in Brussels
Coats: Greece’s banking sector options
Warren Coats assesses the soundness of Greece’s banks and the future challenges for the banking system as a debt crisis looms; proposes an innovative solution to budget deficit
Bank of Greece foresees ‘uncontrollable crisis’ if talks fail
Central bank weighs in with bleak prognosis for life without the euro as talks go to the wire; next Eurogroup meeting on June 18 offers last chance
Economists expect last-minute Greek deal
With Greek finances still looking close to collapse, Central Banking asks a group of economists what the consequences of a last-minute agreement or default might be
Greek governor wants surplus countries to recognise ‘toxic’ effect of austerity
Yannis Stournaras warns surplus countries must bear a share of the burden of adjustment in Europe or risk the rise of extreme political parties; says he is optimistic a deal is ‘not far away’
Greek municipalities’ union delays cash transfer to central bank
The Greek government will not be able to tap the municipalities’ funds to pay the IMF until their demands are approved in parliament
Greece raids local authorities for cash as repayments loom
Local authorities instructed to transfer cash balances to treasury accounts at the Bank of Greece; Constâncio says default would not ‘automatically’ push country out of the eurozone
Greek governor paints bleak picture of life without the euro
Yannis Stournaras insists leaving the eurozone is ‘not an option’ for Greece, as it would impose ‘huge costs’ on the financial system and real economy alike