Greek banks

Greek banks open today

MADRID | July 20, 2015 | By JP Marín ArreseEmergency loans to ensure Greece pays back its sovereign commitments in the coming weeks might fail to save it from the dire financial collapse it faces. 

investors greece

UBP on Greek crisis: “There may be positive and negative surprises”

July 10, 2015 | By Patrice Gautry (UBP) | With the Greeks returning a “No” vote in Sunday’s referendum, the country has moved one step closer towards leaving the eurozone, or “Grexit”.  However, Grexit is not automatic and many scenarios may develop, depending on the ECB’s attitude and political developments during the upcoming negotiations

A EU flag

Capital controls: Greece and Iceland

LONDON | June 30, 2015 | By Sigrún Davídsdóttir | Now that Greece has controls on outflow from banks, capital controls, many commentators are comparing Greece to Iceland. There is little comparison to be made between the nature of capital controls in these two countries. The controls are different in every respect except in the name. Iceland had, what I would call, real capital controls – Greece has control on outflow from banks. With the names changed, the difference is clear.

Greek banks

Tuesday unlikely to bring further changes for the Greek banks

LONDON | June 30, 2015 | BNP | On Tuesday the bailout programme expires and Greece is due to make a payment of EUR1.5bn to the IMF. Both important events. However given that the ECB has already capped the ELA ceiling, we don’t expect any further significant measures against the banks.  

Greek crisis

Greek deal – Not yet. Tough weekend ahead

LONDON | June 26, 2015 | Barclays | The lack of an interim deal between Greece and its creditors signals that the two sides remain divided despite being closer than they have been. Crucially, Greece agrees on pension savings worth 1% of GDP but it plans to get there mainly via higher contributions, while creditors prefer phasing out top-up pension payments and aggressively cutting early retirement. 

Alexis Tsipras

Syriza’s capitulation to please Greek creditors

BRUSSELS | June 23, 2015 | By Alexandre MatoTax hikes and pension system cuts were the main measures offered by Athens to European Institutions and the IMF in order to reach an agreement over the second rescue programme. The €8 billion in savings and new revenues over the next two years were described as important or broad steps. But the proposals are bittersweet.


Grecia BanderasTC

Where has the money withdrawn from Greek banks gone?

ATHENS | May 16, 2015 | By Manos Giakoumis via MacroPolis | 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.