European Central Bank
ECB lowers emergency funding cap for Greek banks to 14.7 bln euros
The European Central Bank lowered the ceiling on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank by 1.9 billion euros to 14.7 billion euros, the Bank of Greece said on Thursday.
Greece remains an economic pariah
The impact of the crisis remains strong on the Greek economy despite the upcoming expiry of the bailout program, with European Central Bank data showing that Greece had the lowest growth rate in the eurozone in 2017, among the lowest gross domestic product per capita, and negative credit expansion and savings rates.
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Normalization of ECB policy should start now: Austria central banker
The European Central Bank should start normalizing its monetary policy, one of its most experienced members, Ewald Nowotny, said on April 10.
Banks to find out within April how they have fared in stress tests
Greece's systemic banks will on Tuesday submit the final set of data to the European Central Bank, completing the process of filing information for the third stress test conducted in the last few years.
Bulgaria Reluctant to Seek ECB Scrutiny Before Euro Entry
Bulgaria, which is seeking to cement its path to euro adoption this year, said it has no plans to join Europe's banking union before switching to the common currency.
ELA declines by 2.4 bln euros
Emergency central bank funding to Greek lenders dropped by 2.4 billion euros, or 13.5 percent, in February compared to the previous month, Bank of Greece data showed on Monday.
Emergency funding, which is more costly than borrowing from the European Central Bank, dropped to 15.05 billion euros from 17.4 billion euros at the end of January, the data showed.
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ECB advises retirement age be increased
Aging populations are an expensive business and suppress growth, the European Central Bank has warned, while recommending that countries delay the age of retirement as the best solution to the problem.
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Finance Minister Vladislav Goranov will Represent the EU Council of G20 in Argentina
Finance Minister and EU Economic and Financial Affairs Council (ECOFIN) President Vladislav Goranov will represent the Council of the European Union at the first meeting of the Ministers of Finance and Central Bank Governors on 19-20 March at the G20 meeting in Buenos Aires, Argentina. This was announced by the press center of the Ministry of Finance.
Greek banks' dependence on ELA drops
Emergency central bank funding to Greek lenders dropped by 4.21 billion euros, or 19.4 percent, in January compared to December last year, Bank of Greece data showed on Monday.
Emergency funding, which is more costly than borrowing from the European Central Bank, dropped to 17.4 billion euros from 21.61 billion euros at the end of December, the data showed.
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Merkel doesn't Want to Speculate on Next ECB President
Chancellor Angela Merkel declined to say on Monday whether she favoured a German becoming the next president of the European Central Bank after incumbent Mario Draghi's term ends in 2019, Reuters.