Arab Today, arab today ecb will provide greek banks with more funding greek central bank
Last Updated : GMT 02:39:03
Arab Today, arab today
Arab Today, arab today

ECB will provide Greek banks with more funding: Greek central bank

Arab Today, arab today

Arab Today, arab today ECB will provide Greek banks with more funding: Greek central bank

Athens stocks market
Athens - AFP

The ECB will throw Greek banks an extra cash lifeline if the government follows its international bailout programme, the Greek central bank said on Thursday.
The decision was taken late on Wednesday by ECB bank governors in Frankfurt after the Athens stock market plunged more than 5.0 percent two days in running and yields on Greek bonds shot up as investors worried about the government terminating the bailout plan.
The ECB has decided to reduce the markdown on the value of assets which Greek banks have to put up to borrow cash.
This will have the effect of making up to an additional 12-15 billion euros available to them.
The Athens stock market plunged 5.7 percent on Tuesday and 6.3 percent on Wednesday, while the yield on its 10-year bonds jumped to 7.94 percent. It was down 1.9 percent on Thursday.
Analysts have said investors are concerned that Greece will not be able to stand on its own two feed if, as the government has signalled it may do, it terminate its IMF programme early.
Greece's EU aid ends in December, but under its IMF programme that lasts until 2016 there is still $16 billion.
After four years under a rescue by the IMF, EU and European Central Bank -- the so-called troika -- worth about $300 billion overall, Athens has largely repaired its finances.
The country is eager to get free from the tight budgetary and policy auditing exercised by the International Monetary Fund, European Union and European Central Bank.
Political uncertainty has also sapped market confidence.
Analysts see an early bailout exit as a move to bolster the political fortunes of the centre-right, socialist coalition government of Prime Minister Antonis Samaras.
The strict bailout conditions have led to the left-wing anti-austerity Syriza party taking the lead in opinion polls, outpacing the coalition parties together.
Political observers believe exiting the bailout would help Samaras gain the extra votes the coalition needs to ensure the election of a president next year, without which an early vote would be triggered.
French Finance Minister Michel Sapin said Thursday in Paris that" Greece still has need for help".
He said the country had made considerable progress "but you have to pay the attention to when you venture out alone on the international markets."

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ecb will provide greek banks with more funding greek central bank Arab Today, arab today ecb will provide greek banks with more funding greek central bank

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 01:04 2017 Tuesday ,28 February

Nokia 3310 is back — and so is 'Snake'

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday