Hellenic Financial Stability Fund
EWG completes positive compliance report for Greece
The Euro Working Group (EWG) came to a “broad agreement” on Greece during its Friday meeting concerning the implementation of prior actions for Greece. Eurozone sources said on Friday that the institutions of Greece’s lenders (EC, ECB, IMF, ESM) completed a positive compliance report that was presented to the eurozone finance ministry representatives.
Greece’s lenders can only complete the review after Greek Parliament legislations
Greece’s creditors from the European Commission, European Central Bank, European Stability Mechanism and International Monetary Fund say they are waiting for the Greek Parliament to legislate necessary reforms so that they can complete their review.
Greek govt and creditors meet anew with 2-bn-euro tranche in sight
Greek Finance Minister Euclid Tsakalotos and Greek Economy, Infrastructure, Shipping and Tourism Minister George Stathakis met with the representatives of the quartet of Greece’s creditors (European Commission, European Central Bank, International Monetary Fund, European Stability Mechanism) afresh on Friday in a last-ditch effort to wrap up all outstanding issues by Saturday.
Eurogroup conclusions on Banking Union, Greece, EU finances, Spain and the eurozone
Banking union: presentation by the Single Resolution Board
The Chair of the Single Resolution Board (SRB) Elke König presented the organisational work that the SRB has completed with a view to fully taking up its role, from 1 January 2016, as the resolution authority for the banks belonging to the banking union.
Greek gov’t issues ministerial act on CoCos for bank recapitalization
The Greek government on Tuesday issued a ministerial council act on the details of the recapitalization of banks defining an 8.0 % interest on bonds and mentioning the operation of CoCos (convertible bonds) with which Hellenic Financial Stability Fund will cover additional capital needs of Greek banks.
Greek banks get set to recapitalize with draft bill to be voted on Saturday
The new draft bill on bank recapitalization will be voted by Greek Parliament on Saturday night. The bill envisages that all actions should have been completed ahead of the January 1, 2016, bailout so as to avoid any risk of a bailout in deposits.
Local, global banks eye stake in Turkish lender
A number of local and global lenders have expressed interest in buying a majority stake in Turkey's Finansbank, which is now owned by Greece's leading lender, the National Bank of Greece (NBG).
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Full Eurogroup statement on 3rd Greek bailout (English text)
Read the Friday Eurogroup statement released after an agreement approving the 3rd bailout for Greece was reached in Brussels, Friday:
The truth about creditors role in Greek debt
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Eyes on Finansbank amid Greece's fallout fears
The Turkish banking sector?s eyes are on Finansbank, 99.8 percent of which is owned by the National Bank of Greece (NBG), after the dramatic deterioration in the Greek economy, while a high level representative in Finansbank said any concerns about the bank?s deposit are baseless.
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