Bank of Greece

European Central Bank funding to Greek banks fell in May by 8.18 billion euros, while emergency liquidity assistance (ELA) from the country’s central bank decreased by 3.12 billion euros down to zero, Bank of Greece data showed on Thursday.

Greece needs to focus on cutting government spending and improving the tax administration over the next five years, the central bank said on Thursday, echoing the country's international lenders.

In its twice yearly monetary policy report, the Bank of Greece maintained its forecast that the 183 billion euro economy would expand by 0.5 percent this year.

Alpha Bank is set to offer the lowest new issue yield from a Greek bank since the country's institutions returned to the capital markets on Thursday, helping further cement the recovery story of one of the eurozone's most troubled jurisdictions.

The Caa1/CCC/B- rated bank is marketing the three-year bond at 3.75 percent area via Citigroup, HSBC, JP Morgan and Mediobanca.

Outgoing Bank of Greece Governor Giorgos Provopoulos warned Wednesday that the country cannot just rely on its adjustment program moving forward but needs to develop its own growth plan, as the central lender’s general council recommended that ex-Finance Minister Yannis Stournaras should take his place.

Greek central bank governor George Provopoulos has been formally told his six-year term will not be renewed, a Bank of Greece source said on Wednesday, ahead of an expected announcement that former finance minister Yannis Stournaras will replace him.

Greece's former Finance Minister Yannis Stournaras is set to become the country's new central bank governor for the next six years, the Bank of Greece said in a statement on Wednesday.

SYRIZA leader Alexis Tsipras met European Central Bank President Mario Draghi on Tuesday in Frankfurt where they discussed the Greek opposition party’s view on how the country’s debt could be made sustainable and its objections to the appointment of outgoing Finance Minister Yannis Stournaras as the next governor of the Bank of Greece.

 Rehn praises Hardouvelis’s appointment as senior euro officials express ‘relief’

The appointment of Gikas Hardouvelis, a non-partisan technocrat, at the helm of the Finance Ministry as part of the major shake-up of the Greek Cabinet on Monday was Tuesday welcomed by the European Union’s economy chief and other senior officials in Brussels.

Prime Minister Antonis Samaras described his new cabinet of 45 ministers and deputy ministers as one that would be able to “plan for Greece’s future” after the group of ministers were sworn in and held their first meeting.

SYRIZA leader Alexis Tsipras is due to meet European Central Bank president Mario Draghi in Frankfurt on Tuesday afternoon.