Greece
Riksbank cuts key rate and expands QE to curb krona risks
Swedish central bank cuts repo rate to -0.35% and will buy additional 45 billion krona worth of government bonds to prevent stronger currency or Greek collapse from derailing inflation
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
Bank of England launches redesigned financial stability report
Central bank aims to convey a clearer picture of the risks facing the UK economy with a shorter, clearer and less repetitious financial stability report
Eurogroup calls emergency conference as Greece turns to ESM for help
Greece asks for two-year bailout programme from European Stability Mechanism, triggering yet another emergency Eurogroup meeting; ECB’s Cœuré admits exit from the euro is now possible
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
Schäuble says Greek outcome now '50-50'
German finance minister warns against losing the ‘remaining credibility’ of the monetary union in speech in Frankfurt; debt negotiations finely poised with IMF deadline looming
ECB’s Constâncio calls for eurozone to cut back on debt
ECB vice-president says deleveraging has proceeded slowly so far due to growth concerns; emphasises debt reduction ought to be done using diverse measures, but says primary surpluses are key
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
Greece closer to default as creditors throw out latest proposals
Leaked copy of counterproposal by Greece’s creditors complete with red-inked changes shows agreement as far away as ever, with less than a week until major IMF repayment
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
RBA minutes note mixed signals for policy
Slight slowdown globally and nervousness over Greece and US rates offset by ‘solid’ lending growth, stronger employment and improved sentiment
IMF's Blanchard urges compromise in Greek negotiations
Both sides need to make tough choices but more funding and some form of debt relief necessary, says IMF chief economist; Mario Draghi emphasises need for long-term EU institutional change
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
Outlook brightens for eurozone SME financing, ECB reports
Report shows access to financing improved over the most recent period surveyed, but the very smallest firms are still struggling and outcomes are diverse across countries
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’
Greece talks more positive but time running out, says Varoufakis
Finance minister says Greece and its creditors are increasingly seeing eye-to-eye, but a deal is needed in the next ‘couple of weeks’; country manages to scrape together IMF repayment
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
Draghi says ECB may have to reassess Greek emergency liquidity
ECB president says situation in Greece may force governing council to revisit the terms of emergency liquidity, as another round of negotiations breaks down
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
Varoufakis defends reshaped Greek reform agenda
Greek finance minister says extension bought time for a ‘serious conversation’ with creditors and outlines ways in which he wants reforms to differ from troika prescriptions