ECB Halts Lending to Some Greek Banks as Draghi Talks Grexit

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Source: Bloomberg
For the first time President of the European Central Bank Mario Draghi acknowledged the possibility of Greece exiting the euro area, making it clear that balance sheet's integrity is the top priority for ECB despite their strong commitment to keep the currency area together. Following this announcement, ECB will temporary stop issuing loans to some Greek banks until they finalise recapitalisation. As soon as it is done, the financial institutions will be able to access standard Eurosystem refinancing operations again.

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Thu, 17 May 2012 09:48:29 GMT

New Zealand's PPI rose by 0.3% in Q1

The PPI in New Zealand increased more than expected in Q1 of 2012, according to official data. The PPI of the country gained 0.3% in Q1 on a seasonally adjusted basis as compared to an increase of 0.5% in Q4 of 2011, reported Statistics New Zealand. Experts predicted the PPI to stay unchanged in Q1. Following the data release, the

Thu, 17 May 2012 13:46:37 GMT

Beijing house sales are recovering this month

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