Bank of Greece

Bar Associations: Demand for Ethics and Sanctions for Claims Management Companies

The plenary session of Bar Associations decided at its meeting to request that the Minister of Finance and the Governor of the Bank of Greece proceed to the immediate legislative enactment of an ethical regulation for the operation of receivables management companies and the provision of effective sanctions in case of its violation.

Stournaras expects 5.5 bln from EU funds this year

Advance payments from a European Union recovery fund will finance investments worth 3.3% of the country's gross domestic product (around 5.5 billion euros) this year, Bank of Greece Governor Yannis Stournaras said on Wednesday while also calling on Greek banks to make additional provisions to cover an expected new wave of nonperforming loans.

Operating on ‘accordion’ mode

The so-called "accordion lockdown" may be testing the patience and stamina of entrepreneurs, who are forced to revise their plans and operations every now and then, but at least it secures some turnover, so it is better than a complete months-long lockdown, say economists who have observed its international application in the last few months.

Banks fret over business loans

Burdened with suspended loans of about 6 billion euros, the sectors of tourism accommodation and food service is proving the biggest sufferer of the pandemic, even more so as the vaccination program experiences delays and the exit from the crisis is not yet in sight.

Greece raises 2 bln euros through private placement with domestic banks

Greece raised 2 billion euros ($2.43 billion) by reopening a 30-year bond through a private placement with two Greek banks, according to the official government gazette, the first borrowing action for 2021.

National Bank of Greece and Piraeus Bank participated in the transaction. The Greek debt agency issued a 30-year bond last year through a private placement.