European Central Bank

Bulgaria Not Ready for Eurozone, Say Commission, Bank

A report by the European Commission published on Wednesday said Bulgaria was not ready to adopt the common European currency.

Following assessments on the country's legal compatibility and its fulfilment of the convergence criteria, "the Commission considers that Bulgaria does not fulfil the conditions for the adoption of the euro," it said.

Banks to sell 13.5 bln euros of NPLs this year

Greek banks are stepping up efforts to rid themselves of nonperforming loans, planning to put portfolios with a total face value of 13.5 billion euros up for sale within 2018.

The bulk of that amount, or 9.7 billion euros, is expected to have been transferred by the end of the year's first half, while another 3.8 billion is set to be offered in the second half.

Greek banks' ELA dependence falls further

Emergency central bank funding to Greek lenders dropped by 3.34 billion euros, or 25 percent, in April compared to the previous month, Bank of Greece data showed on Thursday.

Emergency funding, which is more costly than borrowing from the European Central Bank, dropped to 10.21 billion euros from 13.55 billion euros at the end of March, the data showed.

Greek banks pass stress tests, would only lose 15.5 bln under adverse scenario

Greece's four biggest banks would lose around 15.5 billion euros worth of their capital by 2020, or 9 percentage points of capital, under an adverse economic scenario, results of a stress test published by the European Central Bank showed on Saturday.

Pages