The bank stock slump has gone on for too long and valuations are now exceptionally low, say senior credit sector officials in Athens. However, analysts questioned on the issue by Kathimerini say the problems that Greek lenders are facing will not be overcome quickly, justifying the pounding the sector has sustained on the Athens stock exchange....
Greece’s Finance Ministry announced on Thursday it is lifting all capital controls on cash withdrawals and the movement of capital within the country....
Banks have firmly focused their attention on debtors who have resorted to the provisions of the so-called Katseli law – named after former economy minister Louka Katseli – for protection now that their bank account secrecy has been lifted....
Cyprus got its investment worthiness stripes back on Friday as Standard & Poor’s raised the country’s credit grade from BB+ to BBB- with a stable outlook, five years following a devastating financial collapse...
The United States and Britain are applying more pressure on Russian oligarchs, but also on the transit countries through which their money is being transferred. At the same time that American authorities are working on increasing their sanctions against Russia, the international Press is exposing more reports concerning Russian oligarchs who channelled their money through multiple countries, including Cyprus....
Turkish Cypriot officials are reportedly getting ready for a trip to Ankara where they will discuss the Turkish economic crisis and its impact on the northern part of the island...
Greece’s bailout exit has been eliciting condescending and bitter commentary on the country’s beaches and in its near-deserted cities, as few Greeks believes their lives are going to improve or that the country’s prospects will be akin to those of other bailed-out eurozone states. Greece’s “return to normalcy” and “clean exit,” much touted by the government, appear to be happening somewhere else....
At least two villages were flooded near Lamia, central Greece, on Friday after the river Spercheios swelled due to heavy thunderstorms....
Prosecutors described Paul Manafort as a “shrewd” liar and accused him of misleading his tax preparers, banks, and US authorities in claiming that secret accounts did not exist...
The European Central Bank lowered the ceiling on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank by 1.9 billion euros to 8.4 billion euros, the Bank of Greece said on Thursday....
Greek bank deposits rose in June for a fifth consecutive month, increasing by 1.3 billion euros ($1.52 billion), central bank data showed on Wednesday....