Policy reactions to the Eurozone crisis
Staikouras to discuss IMF loan repayment, gov't plan at Eurogroup
Greece's Finance Minister Christos Staikouras will discuss a request for an early repayment of part of the country's outstanding loans to the International Monetary Fund (IMF) during Friday's Eurogroup meeting in Helsinki.
Athens is keen to repay the IMF loan which is more expensive than the yields Greece currently pays in the markets on its bonds.
Greece plans early IMF payment
Greece may be saddled with heavy debt, but a lot of it involves loans provided on very favorable terms. Moreover, the continuing sharp decline in bond yields makes further borrowing an attractive proposition.
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Greece announces bond issue, first under new government
Authorities in Greece say the country is planning tap financial markets with the issue of a 7-year bond, the first under the new conservative government of Prime Minister Kyriakos Mistotakis.
In a notice released Monday, Greece's Public Debt Management Agency named banks in charge of managing the auction. PDMA announcements are typically made on the eve of the auction.
ECB pays Greek banks to fund households and businesses
To date, Greece's four systemic banks have drawn liquidity totaling 8.4 billion euros through the instruments provided by the European Central Bank known as targeted longer-term refinancing operations (TLTRO), and they will draw more.
Moody's: Greece's early repayment of IMF loans is credit positive
Greece's early repayment of loans from the International Monetary Fund will improve its credit outlook, since it will cut spending on interest and lengthen its debt-maturity profile, the ratings agency Moody's said on Thursday.
EFSF/ESM approve debt relief measures for Greece of almost 1 bln euros
The Board of Directors of the European Financial Stability Facility (EFSF) approved on Thursday debt relief measures for Greece totalling almost one billion euros, the European Stability Mechanism (ESM) said in a press release.
End of ECB buys leaves Italy, France, Spain with 64 billion euro hangover
The end of the European Central Bank's massive stimulus program has left Italy, France and Spain seeking new buyers for up to 64 billion euro ($73 billion) of bonds, ECB data suggests.
That's how much the ECB has "overbought" those countries' debt by, according to Reuters calculations on Thursday based on the bank's end-December stock of eurozone government bonds.
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.
EFSF approves medium-term debt relief measures for Greece
Τhe European Financial Stability Facility (EFSF) on Thursday said its board approved the implementation of a set of medium-term debt relief measures for Greece.
Eurozone finance ministers had endorsed the measures at the Eurogroup meeting on 22 June 2018.
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.