Bailout

Emergency central bank funding to Greek banks falls in November

Emergency central bank funding to Greek banks dropped in November compared to the previous month, Bank of Greece data showed on Wednesday.

Emergency funding, which is more costly than borrowing from the European Central Bank, dropped to 2.7 billion euros ($3.06 billion) from 3.58 billion euros at the end of October, the data showed.

State dues rise instead of falling

The state has ceased paying off its debts to its suppliers after the country exited the bailout program in the summer. Instead of diminishing, the state's dues increased slightly in October, as the government's is obviously prioritizing the payment of social dividends and covering the ruling party's promises.

Greek bank deposits dip in October after eight-month rise

Greek private sector bank deposits dropped slightly in October, pausing an eight-month rise as they decreased by 230 million euros ($259.53 million) central bank data showed on Wednesday.

Businesses and household deposits declined to 131.48 billion euros from 131.71 billion in September, Bank of Greece data showed.

ESM board approves debt relief package

The eurozone's bailout fund has approved the implementation of a major debt relief plan for Greece that it says would provide the crisis-scarred country significant savings over several decades.

The measures include a complex mix of interest rate improvements and repayment deferrals that were initially agreed upon in June.

Some consensus

One main reason that countries plunge into prolonged periods of decline is the absence of consensus. Greece has paid dearly for this. With a little consensus, we could have had private universities, we could have avoided bankruptcy and could have exited the bailouts much earlier.

Emergency central bank funding to Greek banks unchanged in October

Emergency central bank funding to Greek banks remained unchanged in October 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, remained unchanged to 3.57 billion euros from 3.58 in the end of September, the data showed.

Verdicts over pension cuts carry high cost

The recent court decisions vindicating pensioners over the cuts they sustained under the second bailout program, and the upcoming verdict of the Council of State over the Katrougalos law are causing serious turmoil in the political system, as they may not only upset this year's budget but also those of the years to come, along with sinking the country's social security system.

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