European Central Bank Governing Council

Many eurozone banks underestimate credit losses they are likely to incur from the Covid-19 pandemic and supervisors will focus on asset quality this year, European Central Bank Governing Council member Yannis Stournaras said on Friday. 

Relations with investors and the markets will be no easier for Athens than those with the country's creditors, European Central Bank Governing Council member Benoit Coeure warns in an interview with Kathimerini ahead of Greece's return to the markets.

Greece will soon ease capital controls further but full liberalization will depend on progress in easing the country's debt burden, which is also a precondition for entering the ECB's asset buying scheme, central bank chief Yannis Stournaras said.

Action at the Greek bourse was focused on the message from the European Central Bank Governing Council meeting on Thursday, mainly to the benefit of bank stocks.

The Athens Exchange (ATHEX) general index closed at 595.90 points, adding 0.49 percent to Wednesday's 593.02 points. The large-cap FTSE 25 index rose 0.50 percent to end at 1,581.75 points.

Greek banks are solvent and could withstand some stress but would run into trouble if the Greek government were to default, European Central Bank Governing Council member Klaas Knot told the Dutch parliament on Tuesday.

European Central Bank Governing Council member Ewald Nowotny acknowledged on Monday calculating the costs of a Greek exit from the eurozone, a rare admission from a central banker as Athens struggles to reach a deal with its creditors.

His comments underscored the sense of urgency in Europe.

European Central Bank Governing Council member Klaas Knot said on Tuesday that the situation in Greece is alarming, as a default may have a contagion effect in the Eurozone.

The situation in Greece is of concern and a Greek default may have a contagion effect, European Central Bank Governing Council member Klaas Knot said.

There is no reason to consider the idea of Greece defaulting on its debt, European Central Bank Governing Council member Ardo Hansson said on Wednesday.

Greek lenders are urging central bank Governor Yannis Stournaras to seek additional emergency cash as deposit outflows accelerate, according to three people familiar with the situation.