Agora
Posts by Manos Giakoumis
Where has the money withdrawn from Greek banks gone?
Since December, the Greek banking system has been suffering from extended deposit outflows, which reached 26.8 billion euros at the end of March. Almost 90 percent of these withdrawals stemmed from time deposits, while only around 600 million euros was taken from savings accounts.
Contributor: Manos Giakoumis
Categories: Economy (169), Greece (260)
This is how Greece kept its budget on track in Q1
Recent Greek budget data showed the huge revenue gap of 968 million euros recorded in January narrowed to 389 million by the end of the first quarter (Q1) of 2015. At the same time, primary expenditure, which was just 53 million better than target in January, displayed a strong outperformance of 1.18 billion by the end of March.
Contributor: Manos Giakoumis
Categories: Economy (169), Greece (260)
DTA may spell new trouble for Greek banks
Almost twelve months after Greek banks’ capital increases of 8.3 billion euros and six months after the European Central Bank’s comprehensive assessment did not unveil any capital shortfall, capital concerns could emerge again for local lenders.
Contributor: Manos Giakoumis
Categories: Economy (169), Greece (260)
Why Greece is asking for 1.2 bln back from the EFSF
Following the Eurogroup decision on February 20, Greece returned 10.9 billion (European Financial Stability Fund) EFSF bonds at the end of the previous month. That transaction reduced accordingly the country’s debt and the debt to GDP ratio by more than 6 percentage points.
Contributor: Manos Giakoumis
Categories: Europe (119), Economy (169), Greece (260)
Greek banks may soon breathe sigh of relief on capital needs
Greek banks are always at the forefront of domestic market developments. Despite the strong rebound of 6.4 percent on Friday, their shares still recorded cumulative losses of 7.8 percent last week and 23.9 percent over the past three months. Concerns about the outcome of the upcoming comprehensive assessment European Central Bank are one of the key factors weighing on investors’ minds.
Contributor: Manos Giakoumis
Categories: Economy (169), Greece (260)