Search

511. Banks have their recovery work cut out

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....

512. Greek finance ministry lifts capital controls on cash withdrawals

Greece’s Finance Ministry announced on Thursday it is lifting all capital controls on cash withdrawals and the movement of capital within the country....

513. AXIA Ventures Group receives Global Finance 2018 award

514. Moody's keeps Greek rating unchanged at B3

Moody’s kept Greece's sovereign credit rating unchanged at B3, with a positive outlook, in a credit opinion it issued on Wednesday....

515. Bank of Cyprus plans voluntary layoffs in 2019

516. Bank of Cyprus CEO makes the case for Cyprus recovery

517. Greek banks to chase borrowers who refused to open their accounts

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....

518. Cyprus issues sovereign bond, draws €1.5 billion at 2.4%

519. Cypriot documentary 'The Ghost of Peter Sellers' wows in Venice and Telluride

520. Cyprus eyes 10-year low yield bond after S&P lifts sovereign to investment grade

521. Cyprus back into investment grade

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...

522. Merkel endorses Euro clearing move from London to Frankfurt

523. Hellenic takes on 400,000 new customers

Hellenic Bank is taking on 400,000 new customers, leaving bad debt behind in the acquisition of healthy parts of state-owned Cyprus Cooperative Bank...

524. Odysseas says Harris was being stubborn

The auditor general is pointing fingers at the finance ministry’s handling of the Cyprus Cooperative Bank affair, telling an independent investigation committee that some actions were misleading...

525. Come back, support Greece

We are caught between celebrations over Greece’s “clean exit” from the bailout programs on one hand and, on the other, allegations that the country has effectively signed up to what can be considered a “fourth memorandum” and is headed to economic disaster....

526. Over a thousand employees choose Co-Op buyout

Over a thousand employees at Cyprus Cooperative Bank signed up for a voluntary severance package, well above the target of 900 set by the bank ahead of a takeover by Hellenic Bank...

527. Shadows loom over government’s ‘clean exit’ scenario

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....

528. Regling says Greece will remain linked to ESM

Greece will be monitored more closely by the European Stability Mechanism (ESM) and the other institutions after its bailout ends six days from now compared to other countries that emerged from rescue programs, according to ESM chief Klaus Regling....

529. Greek bank deposits rise in June for fifth month in a row

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....

530. President thanks parliamentary caucus for Sunday votes

President Nicos Anastasiades praised the ruling and opposition parties for approving state guarantees for Hellenic Bank as well as passing new foreclosure and bankruptcy laws, adding he would not respond to criticism...

531. House approves state guarantees in co-op deal

The House passed legislation Sunday night in favour of providing state guarantees to Hellenic Bank in its acquisition of Cyprus Cooperative Bank’s healthy portfolio...

532. House shifts into gear with Sunday bad loans session

It will be a long weekend for the House finance committee, which will hold emergency sessions ahead of a crucial Sunday vote on bad loans and state guarantees for Hellenic Bank...

533. Cabinet okays homeowner plan ahead of crucial House session

The Cabinet approved on Tuesday the “Estia” scheme aimed at addressing the high volume of non-performing loans in the Cypriot banking sector, but time is running out as a crucial legislation package on bad loans is also up for a vote on Friday...

534. House prepares to define good and bad borrowers

The distinction between responsible and irresponsible borrowers is at the forefront of heated debate this week, with Presidential Palace and Parliament scrambling to strike balance ahead of a crucial vote...

535. AG names investigators to comb though co-op

A former judge, an economist, and a banker will make up the executive committee that will investigate any suspicious dealings that took place in the troubled Cypriot co-op...

536. Cyprus co-op bank freezes accounts with bad loans

The Cyprus Cooperative Bank on Friday froze accounts of customers who keep their loans delinquent on purpose, as the bank makes an effort to force them to seek refinance terms...

537. ESM warns Cypriot banks of quick fixes

The European Stability Mechanism warns Cyprus that despite a recent decline in non-performing loans (NPL), the banking sector remains vulnerable due to weak profitability and a still high NPL ratio...

538. Probe countdown begins for Cyprus Co-Op debacle

Attorney General Costas Clerides is moving forward with the launching of an investigation into possible offences at the Cyprus Cooperative Bank, in connection with bad loans worth €7.5 billion...

539. Co-op bankers plead not guilty in loans scandal

Senior co-op executives pleaded not guilty to fraud charges in connection with a banking scandal where loans worth millions were given out without due process...

540. #PoliticsBlog End of an era and Harris’ bitter chalice

Journalists often abuse the term 'end of an era' but in the case of the Cyprus Cooperative Bank, these words totally fit the bill...