Eurozone
Record interest rate spread
One of the pillars of Greek banks' profitability has been the limited increase in interest rates on deposits, leading to the highest interest spread in the eurozone - i.e. the difference between loan interest rates and deposit interest rates.
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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.
Low interest payouts by Cypriot banks
Cypriot banks rank second to last among European banks in terms of paying interest on total household deposits, according to data released on Wednesday by the European Banking Authority (EBA), as part of its annual risk assessment of the European banking system.
In contrast, Cypriot banks are in second place among European banks in terms of return on equity.
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Hatzidakis: Opportunities in Greece for US investors
National Economy and Finance Minister Kostis Hatzidakis urged more investors from the United States to invest in Greece, in his speech on Monday at the 25th Invest in Greece forum organized by Capital Link in New York.
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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Mixed Sentiments: Euro's High Approval Amid Croatian Skepticism"
The euro enjoys robust support across the Eurozone, with approval ratings averaging 79%, although opinions vary significantly across member states. According to a recent survey conducted by Ipsos European Public Affairs on behalf of the European Commission, diverse sentiments towards the single currency emerged, especially in Croatia, where skepticism persists.
EU Commissioner Asserts Rigorous Criteria for Bulgaria’s Eurozone Entry
In a definitive stance, European Commissioner for the Economy, Paolo Gentiloni, underscored the unwavering commitment to stringent criteria for Bulgaria's entrance into the Eurozone, dispelling any prospects of leniency or "flexibility" in the accession process.
Bank of Greece set to trim growth outlook
The Greek central bank is set to trim its growth outlook for next year significantly in its upcoming December forecasts.
Bank of Greece Governor Yannis Stournaras told Politico that his institution now expects the Greek economy to expand 2.4% this year, and by 2.5% in each of the two subsequent years.
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Greece to repay more eurozone bailout loans ahead of schedule
Greece will next month repay ahead of schedule 5.3 billion euros ($5.8 billion) of loans owed to eurozone countries under its first bailout, and hopes to repeat the move in 2024, Finance Ministry officials told Reuters on Tuesday.