It is no secret that the Greek banking system is (once again) heavily reliant in ECB funding. What's less obvious at first glance is that although in absolute terms, its reliance is lower that what it was at the 2012 peak, in relative terms its reliance to CB funding is now, in fact, higher.
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source: Bank of Greece |
No matter which yardstick one chooses to measure it against (e.g. Total Assets or GDP), the statement above stands.
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source: Bank of Greece, own calculations |
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source: Bank of Greece |
Happy times.
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