Wednesday Jul 30, 2014 Search
Weather | Athens
32o C
25o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
IIF: Cyprus aid may stress bank funding elsewhere

Banks in Portugal, Spain and Italy may come under funding pressure after a deal earlier this week in Cyprus rescued the islands financial system at the expense of bank creditors, the Institute of International Finance said on Wednesday.

European governments and the International Monetary Fund agreed on Monday to loan Cyprus 10 billion euros as long as the country liquidated its second-largest bank and forced losses on bank bondholders and deposits of more than 100,000 euros.

This new approach is apt to put funding stresses on banks in weaker economies especially Portugal, Spain and Italy, the Washington-based association of the biggest commercial and investment banks said in a report.

Instead of severing the link between bank and sovereign balance sheets, the Cyprus deal will have deepened these links: Banks exposed to weak sovereigns will have their depositors and creditors haircut, pulling down the economy and public finances.

[Bloomberg]

ekathimerini.com , Wednesday March 27, 2013 (23:00)  
Six firms submit bids to lease Vouliagmeni beach
IMFs Lagarde not sure yet about debt relief for Greece
Deals reached for twin plot on Afandou, for 42 million
More delays and red tape for companies tax rebates
EU Commissioner Damanaki unlikely to return to Greek politics
Greeces current European Commissioner, Maria Damanaki, will not return to Greece or Greek politics when her tenure ends in October, Kathimerini understands. Damanaki holds the Maritime Affa...
Police arrest one, seek another three over counterfeit goods
One man has been arrested in the western Athens suburb of Aghia Varvara after police raided a store selling counterfeit goods. Officers are searching for three other suspects. Police found m...
Inside News
VOLLEYBALL
Volleyball national team second in European League
Much as the national volleyball team tried to repeat in the finals of the European League the feat it had achieved in the semifinals, it failed to overturn the advantage Montenegro had got f...
SOCCER
Ranieri says he has little to change in Greek national team
The Hellenic Football Federation (EPO) presented Claudio Ranieri as the new Greece coach for the next couple of years, after the Italian manager signed his contract in Athens on Friday. I l...
Inside Sports
COMMENTARY
Through insecurity comes optimism
Prime Minister Antonis Samaras recently expressed his optimism regarding the quota of 180 Parliamentary deputies required for the election of Greeces next president, in order for the countr...
EDITORIAL
Futile policy
The policy that Israel has been pursuing vis-a-vis the Palestinians is wrong and futile. Current tactics have failed to resolve the security issue and, at the same time, they are rapidly dra...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Six firms submit bids to lease Vouliagmeni beach
2. IMFs Lagarde not sure yet about debt relief for Greece
3. EU Commissioner Damanaki unlikely to return to Greek politics
4. Police arrest one, seek another three over counterfeit goods
5. Coalition submits new proposals for Greek coastline
6. Deals reached for twin plot on Afandou, for 42 million
more news
Today
This Week
1. Coalition submits new proposals for Greek coastline
2. Police arrest one, seek another three over counterfeit goods
3. EU Commissioner Damanaki unlikely to return to Greek politics
4. IMF's Lagarde not sure yet about debt relief for Greece
5. Six firms submit bids to lease Vouliagmeni beach
6. Greece names fifth privatization agency chief in four years
Today
This Week
1. Unequal after death
2. Greek sovereign debt at 174.1 percent of GDP in first quarter
3. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
4. Quadriplegic woman on life support 'dies due to unpaid power bills'
5. Front-line threats
6. Defense Minister Avramopoulos to represent Greece at European Commission
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.