Euro-area finance ministers shielded Greek bank depositors from any losses resulting from the restructuring of the nation’s financial system, as part of Friday’s deal on an 86 billion-euro ($96 billion) bailout.
Banks across Greece may have reopened their doors after a forced holiday of over three weeks on Monday but almost all banking transactions are still prohibited for households and enterprises, and will stay that way for some time yet.
Greece is about to hand over the keys to its entire banking system to the Troika and when it does a haircut on deposits may take place and there is nothing Athens can do to stop it.
German media outlet DWN believes the EU will split, and the final break is only a matter of time.
Every day in which Athens does not have a funding backstop, be it the ECB or the BRIC bank, is a day which brings the Greek banking system to the edge of total collapse.
Piraeus Bank will write off credit cards and retail loans up to 20,000 euros ($21,484) for Greeks who qualify for help under a law the leftist government passed to provide relief to poverty-stricken borrowers, it said on Thursday.
Lenders saw their customers’ deposits shrink further last month, Bank of Greece data showed on Thursday, while the flight appears to be continuing this month. On the bright side, the European Central Bank gave the local credit sector a fresh ...
196 years after winning their sovereignty from The Ottoman Empire, one wonders if The Greeks have the ability to fight their sovereignty back from "The Institutions" better known as the Troika of lenders.
Greece is negotiating with its eurozone creditors to get more aid before the indebted government runs out of cash. Here’s what Greece owes, when.
€4bn of deposits left the Greek banking system in December, €12bn in January and likely €6bn in February. That is between December and February €22bn of deposits likely left the Greek banking system and of this €10bn or 45% went ...
Greek banks are fighting to stay alive, according to experts, as the flight of deposits and their only marginal replacement by liquidity supplied from the Eurosystem are not allowing the local credit sector anything more than the mere serving of ...