European Central Bank
Cash transactions of over 500 euros to carry hefty fines
Taxpayers, such as property buyers, who insist on breaking the law by conducting cash payments in excess of 500 euros each are facing fines, which can reach up to twice the value of the transaction, as the provisions of the new tax law have come into force.
Tricky timing for Greece’s first 2024 foray
The sooner Greece goes to the markets in 2024, the better, say analysts, stressing that demand for Greek bonds during next year's issues will be particularly strong.
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Cyprus bonds hold firm at €6.75 billion
The Eurosystem maintained its holdings of Cypriot bonds valued at 6.75 billion euros as of the end of November, data from the Central Bank of Cyprus have shown.
This stability is attributed to the European Central Bank's ongoing efforts to deleverage its balance sheet as a strategy to curb inflation.
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Bonds hit 16-month high
Greek bonds outperformed their eurozone counterparts considerably on Monday, with the 5-year Greek note even matching Spanish paper, having received a boost from Greece's upgrade by Fitch Ratings on Friday night.
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Inflation seen easing to 3% in November
The European Union-harmonized inflation rate in Greece fell to 3% in November, according to Eurostat's preliminary data, after the jump of 3.8% it had made in October.
In the eurozone, inflation continued to slow closer to the ECB's 2% target, at a faster pace than expected. Inflation in the bloc hit a two-year low of 2.4% in November, from 2.9% in October.
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Rates boost local holiday pads
The sharp and large increase in the European Central Bank interest rates is developing into a strategic advantage for the Greek holiday home market: It has made potential buyers focus on markets such as Greece, where it is still possible to acquire a holiday home without needing a bank loan.
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New ECB rating agency Scope puts greater weight on eurozone protection mechanisms
Scope, Europe's first ECB-approved credit ratings agency, promises to put more weight on the eurozone's improved ability to navigate crises although it has concerns about Italy and France and warns the Dutch election result could trouble its coveted triple-A grade.
National Bank sees earnings climb in Jan-Sept
National Bank, Greece's second-largest lender by market value, on Tuesday reported higher net earnings in the first nine months of 2023 compared with the same period a year ago as net interest income rose.
NBG, 40% owned by the country's HFSF bank rescue fund, said net earnings reached 791 million euros from €680 million in the first nine months of 2022.
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‘Two moments’ when threat of Grexit felt close
A few years ago, as the head of the International Monetary Fund, it would not have been easy for her to walk in central Athens, when Greece was in the midst of its government debt crisis. Today, a few days after her visit to Athens, Christine Lagarde, today head of the European Central Bank, declares that she is impressed by the "transformation" that the country has undergone.
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Worrying: Bankers Predict Rising Interest Rates for Bulgarian Households
Representatives from several banks attending the "My Money" Expo have forecasted an increase in interest rates on household loans within the next six to twelve months. While this increase has already affected company loans, it is yet to impact households, according to Tatiana Ivanova, Executive Director of "Digitalization, Data, and Operations" at UBB.