European Central Bank
ECB praise for Greece’s banking progress
The European Central Bank's Supervisory Board (SSM) Chair Claudia Buch acknowledged the progress made by the Greek banking sector during her two-day visit along with Single Resolution Board Chair Dominique Laboureix to Athens.
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SRB, SSM chiefs in Athens
The chairs of the Single Resolution Board (SRB) Dominique Laboureix and the Supervisory Board of the European Central Bank (SSM) Claudia Buch are in Athens on a two-day visit on Thursday and Friday.
The heads of the two European institutions met on Thursday with Bank of Greece Governor Yannis Stournaras and top executives of the BoG.
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Bond yields point to prestige in market
The yield of the Greek 10-year bond, the benchmark of the Greek debt market, has now dropped below 3%, at the lowest levels since April 2022, when the main interest rate of the European Central Bank was still at negative levels.
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Cyprus loans vulnerable to rate shifts
Half of the loans in Cyprus are vulnerable to shifts in the Euribor and the European Central Bank's (ECB) key rates, though no further increases are expected in 2024 and 2025, but rather possible decreases, according to the latest Financial Stability Report for 2022 by the Central Bank of Cyprus.
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Stournaras: ECB must see inflation below 3% by mid-2024 before cutting rates
The European Central Bank must see inflation stably below 3% by the middle of next year before beginning to lower borrowing costs from record highs, ECB policymaker Yannis Stournaras told Reuters on Monday.
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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Draft budgetary plan in line with European Council
The Eurogroup welcomed on Thursday the fact that the draft budgetary plans of Greece and another six countries (Cyprus, Estonia, Spain, Ireland, Lithuania and Slovenia) are in line with the fiscal recommendations of the European Council based on the Commission assessment.
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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.
Government vows to reduce inflation
Monetary and fiscal policies will be used in the fight against inflation, according to the statement released after the Economy Coordination Board (ECB) meeting.
The board, chaired by Vice President Cevdet Yılmaz, convened on Oct. 30.
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Lagarde: Greek economy and people an example of resilience
European Central Bank (ECB) President Christine Lagarde on Wednesday praised the return of Greece's economy to health and the resilience of the Greeks following its debt crisis more than ten years ago.