APRIL 27, 2018 / 7:04 PM / 5 DAYS AGO
Reuters Staff
5 MIN READ
(Repeats to fix technical glitch)
* Greece to return to financing on Aug. 20
* Greece to implement final batch of reforms
* Eurozone to review progress in May
By Jan Strupczewski and Francesco Guarascio
SOFIA, April 27 (Reuters) - Euro zone finance ministers will decide in June on further debt relief measures for Greece and the size of a final disbursement of loans to keep the country liquid after it exits from eight years of international bailouts, officials said on Friday.
Greece’s government bond yields hit a 2-1/2 month low on the news.
"Ό,τι η ψυχή επιθυμεί, αυτό και πιστεύει." Δημοσθένης (Whatever the soul wishes, thats what it believes, Demosthenes)
Showing posts with label Debt relief. Show all posts
Showing posts with label Debt relief. Show all posts
Wednesday, May 2, 2018
Thursday, March 15, 2018
Euro zone to unlock new loans to Greece, working on debt relief
MARCH 12, 2018 / 8:12 PM / 2 DAYS AGO
Francesco Guarascio, Jan Strupczewski
4 MIN READ
BRUSSELS (Reuters) - Euro zone creditors are expected to disburse new loans to Greece this month and are working on debt relief measures, the head of the bloc’s finance ministers said on Monday, steps that should help underpin its economic recovery.
Greece’s 86-billion-euro bailout program, its third since 2010, is due to end in August and international lenders are debating how to ensure the country makes its exit on a sustainable footing.
Among options under consideration in Brussels are support measures that could run into tens of billions of euros and help ease servicing costs on a public debt pile that, in terms of economic output, is among the biggest in the world.
Francesco Guarascio, Jan Strupczewski
4 MIN READ
BRUSSELS (Reuters) - Euro zone creditors are expected to disburse new loans to Greece this month and are working on debt relief measures, the head of the bloc’s finance ministers said on Monday, steps that should help underpin its economic recovery.
Greece’s 86-billion-euro bailout program, its third since 2010, is due to end in August and international lenders are debating how to ensure the country makes its exit on a sustainable footing.
Among options under consideration in Brussels are support measures that could run into tens of billions of euros and help ease servicing costs on a public debt pile that, in terms of economic output, is among the biggest in the world.
Labels:
Debt relief,
Greek Crisis,
Structural Reforms,
SYRIZA,
Third Memorandum
Wednesday, June 21, 2017
Europe's Unserious Plan for Greece
The latest deal on debt won’t work, and everybody knows it.
By The Editors
21 Ιουνίου 2017, 9:00 π.μ. EEST
Bloomberg
By The Editors
21 Ιουνίου 2017, 9:00 π.μ. EEST
- Grace periods come to an end. As interest rates creep up, Greece’s debt repayments will rise too. The perpetual primary surpluses creditors are demanding will squeeze the economy so hard that they’ll be self-defeating even in narrow fiscal terms.
Bloomberg
Friday, June 16, 2017
E.U. Reaches Debt Deal for Greece Worth 8.5 Billion Euros
By JAMES KANTER and NIKI KITSANTONISJUNE 15, 2017
LUXEMBOURG — European Union officials agreed on Thursday to unlock loans of 8.5 billion euros for Greece, to ensure it meets huge payments on its debt next month.
The deal, reached by eurozone finance ministers, will ensure that Greece can pay about €7 billion, or $7.9 billion, next month on its towering pile of loans. If Greece defaulted on its debt, it could set off an economic crisis, reviving fears about the future of the eurozone.
The agreement included formal participation by the International Monetary Fund, said Jeroen Dijsselbloem, the president of the Eurogroup of finance minsters.
LUXEMBOURG — European Union officials agreed on Thursday to unlock loans of 8.5 billion euros for Greece, to ensure it meets huge payments on its debt next month.
The deal, reached by eurozone finance ministers, will ensure that Greece can pay about €7 billion, or $7.9 billion, next month on its towering pile of loans. If Greece defaulted on its debt, it could set off an economic crisis, reviving fears about the future of the eurozone.
The agreement included formal participation by the International Monetary Fund, said Jeroen Dijsselbloem, the president of the Eurogroup of finance minsters.
Labels:
Austerity measures,
Debt relief,
SYRIZA,
Third Memorandum
Tuesday, June 13, 2017
ECB Said to Be Unlikely to Include Greece in QE in Coming Months
by Alessandro Speciale
13 Ιουνίου 2017, 2:00 π.μ. EEST
Bloomberg
The European Central Bank is unlikely to include Greek bonds in its asset-purchase program for the foreseeable future, a person familiar with the matter said, as European creditors aren’t prepared to offer substantially easier repayment terms on bailout loans to improve the nation’s debt outlook.
13 Ιουνίου 2017, 2:00 π.μ. EEST
Bloomberg
The European Central Bank is unlikely to include Greek bonds in its asset-purchase program for the foreseeable future, a person familiar with the matter said, as European creditors aren’t prepared to offer substantially easier repayment terms on bailout loans to improve the nation’s debt outlook.
Monday, June 12, 2017
Greece puts faith in France to solve bailout impasse
The Washington Post
By Derek Gatopoulos | AP June 12 at 8:43 AM
ATHENS, Greece — France’s finance minister says Greece is on course to reach a crucial funding deal with bailout lenders this week.
“A new crisis on the Greek issue must be calmly avoided,” Bruno Le Maire said after meeting Monday with Greek Prime Minister Alexis Tsipras.
The French minister traveled to Athens ahead of a meeting in Luxembourg on Thursday of finance ministers from countries using the euro currency.
Labels:
Austerity measures,
Debt relief,
Greek Crisis,
SYRIZA,
Third Memorandum
Thursday, June 8, 2017
Greece Calls on Europe to Offer Growth Incentives, Help Break Debt Impasse
By REUTERS
JUNE 7, 2017, 10:39 A.M. E.D.T.
The New York Times
ATHENS — Greece urged its European lenders on Wednesday to offer incentives that will boost growth and help break an impasse between the euro zone and the International Monetary Fund on the size of relief the country needs to make its debt sustainable.
During a meeting of euro zone finance ministers last month, Greece, its euro zone lenders and the IMF failed to agree on the debt relief measures to be implemented after its current bailout expires in 2018, mainly because of different growth assumptions. They are now aiming for a deal at a June 15 Eurogroup meeting.
Labels:
Austerity measures,
Debt relief,
Greek Crisis,
Grexit,
SYRIZA,
Third Memorandum
Wednesday, June 7, 2017
Greek Ruling Party Says IMF Debt Proposal Not Helpful in Impasse
By REUTERSJUNE 6, 2017, 10:12 A.M. E.D.T.
The New York Times
ATHENS — A proposal by IMF Chief Christine Lagarde offering a way out of Greece's debt impasse with its European lenders does not contribute towards reaching an "honourable solution," Greece's ruling Syriza party said on Tuesday.
The New York Times
ATHENS — A proposal by IMF Chief Christine Lagarde offering a way out of Greece's debt impasse with its European lenders does not contribute towards reaching an "honourable solution," Greece's ruling Syriza party said on Tuesday.
Labels:
Debt relief,
Greek Crisis,
IMF,
SYRIZA,
Third Memorandum
Friday, June 2, 2017
Τα προβλήματα με την ελάφρυνση του χρέους
Μιράντα Ξαφά
Huffington Post
Μετά την κατ' αρχήν αποδοχή από την κυβέρνηση των μέτρων που ζητούν οι δανειστές για να κλείσει η δεύτερη αξιολόγηση, μόλις ψηφιστούν τα μέτρα προβλέπεται να ανοίξει η συζήτηση για το χρέος. Παρά το γεγονός ότι το θέμα αυτό συζητείται παρασκηνιακά μεταξύ Ευρωπαίων και ΔΝΤ εδώ και μήνες, λύση που να είναι πολιτικά αποδεκτή από όλους τους εμπλεκόμενους στη διαπραγμάτευση δεν θα είναι εύκολο να βρεθεί. Μία πρόσφατη μελέτη τριών επιφανών οικονομολόγων εξηγεί γιατί.
Huffington Post
Μετά την κατ' αρχήν αποδοχή από την κυβέρνηση των μέτρων που ζητούν οι δανειστές για να κλείσει η δεύτερη αξιολόγηση, μόλις ψηφιστούν τα μέτρα προβλέπεται να ανοίξει η συζήτηση για το χρέος. Παρά το γεγονός ότι το θέμα αυτό συζητείται παρασκηνιακά μεταξύ Ευρωπαίων και ΔΝΤ εδώ και μήνες, λύση που να είναι πολιτικά αποδεκτή από όλους τους εμπλεκόμενους στη διαπραγμάτευση δεν θα είναι εύκολο να βρεθεί. Μία πρόσφατη μελέτη τριών επιφανών οικονομολόγων εξηγεί γιατί.
Monday, May 29, 2017
Greek Creditors, IMF Seek to Bridge Split Over Debt Relief
by Viktoria Dendrinou and Rainer Buergin
21 Μαΐου 2017, 4:11 μ.μ. EEST 22 Μαΐου 2017, 7:16 μ.μ. EEST
Bloomberg
Euro-area finance ministers gathered in Brussels on Monday, seeking a compromise with the International Monetary Fund on debt relief for Greece that could signal the final act in the seven-year-old drama for the continent’s most indebted state.
The IMF is reluctant to participate in a bailout unless the euro area ensures the country’s 315 billion-euro ($355 billion) debt load is sustainable. Some nations like Germany that are resisting a change to Greece’s debt profile won’t release any new funds until the Washington-based fund joins the program. Athens needs the new aid installment before it has to repay about 7 billion euros to lenders in July.
21 Μαΐου 2017, 4:11 μ.μ. EEST 22 Μαΐου 2017, 7:16 μ.μ. EEST
Bloomberg
Euro-area finance ministers gathered in Brussels on Monday, seeking a compromise with the International Monetary Fund on debt relief for Greece that could signal the final act in the seven-year-old drama for the continent’s most indebted state.
The IMF is reluctant to participate in a bailout unless the euro area ensures the country’s 315 billion-euro ($355 billion) debt load is sustainable. Some nations like Germany that are resisting a change to Greece’s debt profile won’t release any new funds until the Washington-based fund joins the program. Athens needs the new aid installment before it has to repay about 7 billion euros to lenders in July.
Labels:
Austerity measures,
Debt relief,
Greek Crisis,
Primary surplus
Thursday, May 25, 2017
Debt relief or a fourth financial assistance programme for Greece?
The Eurogroup faces a difficult choice on Greece — implementing a debt reduction plan drastic enough to make a return to market borrowing possible, or agreeing to a fourth financial assistance programme and continuing to fund Greece at the preferential lending rate.
BY: ZSOLT DARVAS DATE: MAY 22, 2017
Bruegel
BY: ZSOLT DARVAS DATE: MAY 22, 2017
Bruegel
No Greek debt relief needed if primary surplus above 3 percent/GDP for 20 years: paper
Wed May 24, 2017 | 9:24am EDT
Reuters
By Gernot Heller | BERLIN
Greece will not need any debt relief from euro zone governments if it keeps its primary surplus above 3 percent of GDP for 20 years, a confidential paper prepared by the euro zone bailout fund, the European Stability Mechanism (ESM), showed.
The paper, obtained by Reuters, was prepared for euro zone finance ministers and International Monetary Fund talks last Monday, which ended without an agreement due to diverging IMF and euro zone assumptions on future Greek growth and surpluses.
Reuters
By Gernot Heller | BERLIN
Greece will not need any debt relief from euro zone governments if it keeps its primary surplus above 3 percent of GDP for 20 years, a confidential paper prepared by the euro zone bailout fund, the European Stability Mechanism (ESM), showed.
The paper, obtained by Reuters, was prepared for euro zone finance ministers and International Monetary Fund talks last Monday, which ended without an agreement due to diverging IMF and euro zone assumptions on future Greek growth and surpluses.
Labels:
Austerity measures,
Debt relief,
Germany,
Greek Crisis,
IMF,
Primary surplus,
SYRIZA
Wednesday, May 24, 2017
New deadline for Greece set after another stalemate
By Pan Pylas | AP May 23 at 8:26 AM
The Washington Post
BRUSSELS — Hopes for a breakthrough in negotiations for cash-strapped Greece were dashed again and another deadline was set.
Greece once again failed to get approval from its European creditors to receive the next batch of bailout loans that it needs to meet a debt repayment hump this summer. It also failed to secure an agreement on the sort of debt relief measures it can expect to get when its current bailout program ends next year.
The Washington Post
BRUSSELS — Hopes for a breakthrough in negotiations for cash-strapped Greece were dashed again and another deadline was set.
Greece once again failed to get approval from its European creditors to receive the next batch of bailout loans that it needs to meet a debt repayment hump this summer. It also failed to secure an agreement on the sort of debt relief measures it can expect to get when its current bailout program ends next year.
Labels:
Austerity measures,
Debt relief,
Germany,
Greek Crisis,
IMF,
SYRIZA
Monday, May 22, 2017
German foreign minister Gabriel demanded debt relief for Greece
Deutsche Welle
22-05-2017
Shortly before an Euro Group meeting, German foreign minister Sigmar Gabriel demanded debt relief for Greece. Indirectly, Gabriel is standing up against fellow German cabinet minister Wolfgang Schäuble.
See video of Mr Gabriel's speech here:http://www.dw.com/en/german-foreign-minister-gabriel-demanded-debt-relief-for-greece/av-38930200
Labels:
Debt relief,
Germany,
Greek Crisis,
Third Memorandum
Greek Creditors Seek to Break Impasse on Stalled Bailout Review
by Viktoria Dendrinou
21 May 2017, 4:11 μ.μ. EEST
Euro-area finance ministers gather in Brussels on Monday to try to clinch a deal on easing Greece’s debt burden, which would resolve a stalled review of the country’s bailout and pave the way for a new set of rescue loans.
While Greece and its bailout supervisors have agreed on economic overhauls, the completion of the country’s review has been held back by disagreements between key creditors over how much debt relief is needed.
21 May 2017, 4:11 μ.μ. EEST
Euro-area finance ministers gather in Brussels on Monday to try to clinch a deal on easing Greece’s debt burden, which would resolve a stalled review of the country’s bailout and pave the way for a new set of rescue loans.
While Greece and its bailout supervisors have agreed on economic overhauls, the completion of the country’s review has been held back by disagreements between key creditors over how much debt relief is needed.
Labels:
Austerity measures,
Debt relief,
Grexit,
SYRIZA,
Third Memorandum
Monday, May 8, 2017
PM Tsipras says Greece has done its bit, now wants debt relief
Thu May 4, 2017 | 4:46pm EDT
Reuters
By Renee Maltezou | ATHENS
Prime Minister Alexis Tsipras called on Greece's international lenders on Thursday to reach an agreement on easing its debt burden by May 22, when euro zone finance ministers meet in Brussels to discuss the bailout progress.
Athens and its creditors reached a long-awaited deal this week on a series of bailout reforms Greece needs to unlock loans from its 86-billion euro rescue package, the country's third since in 2010.
Reuters
By Renee Maltezou | ATHENS
Prime Minister Alexis Tsipras called on Greece's international lenders on Thursday to reach an agreement on easing its debt burden by May 22, when euro zone finance ministers meet in Brussels to discuss the bailout progress.
Athens and its creditors reached a long-awaited deal this week on a series of bailout reforms Greece needs to unlock loans from its 86-billion euro rescue package, the country's third since in 2010.
Labels:
Austerity measures,
Debt relief,
Grexit,
IMF,
SYRIZA,
Troika
Friday, May 5, 2017
PM Tsipras says Greece has done its bit, now wants debt relief
Thu May 4, 2017 | 4:46pm EDT
Reuters
By Renee Maltezou | ATHENS
Prime Minister Alexis Tsipras called on Greece's international lenders on Thursday to reach an agreement on easing its debt burden by May 22, when euro zone finance ministers meet in Brussels to discuss the bailout progress.
Reuters
By Renee Maltezou | ATHENS
Prime Minister Alexis Tsipras called on Greece's international lenders on Thursday to reach an agreement on easing its debt burden by May 22, when euro zone finance ministers meet in Brussels to discuss the bailout progress.
Labels:
Austerity measures,
Debt relief,
IMF,
SYRIZA,
Third Memorandum,
Troika
Thursday, April 27, 2017
Greece will legislate reforms but implementation hinges on debt relief: PM
Tue Apr 25, 2017 | 1:08pm EDT
Reuters
Greece will legislate additional reforms sought by its lenders but implementing them in 2019 and 2020 is contingent on securing further debt relief, Prime Minister Alexis Tsipras said on Tuesday.
Reuters
Greece will legislate additional reforms sought by its lenders but implementing them in 2019 and 2020 is contingent on securing further debt relief, Prime Minister Alexis Tsipras said on Tuesday.
Labels:
Austerity measures,
Debt relief,
SYRIZA,
Third Memorandum
Friday, February 24, 2017
Half of Germans against debt relief for Greece, survey shows
Fri Feb 24, 2017 | 4:05am EST
Reuters
Around half of Germans are against granting debt relief to Greece and around three in 10 want the debt-laden country to quit the euro zone, a survey showed on Friday.
Reuters
Around half of Germans are against granting debt relief to Greece and around three in 10 want the debt-laden country to quit the euro zone, a survey showed on Friday.
Labels:
Austerity measures,
Debt relief,
Germany,
Grexit,
SYRIZA
Thursday, February 23, 2017
IMF Signals Greek Debt to Be Dealt With at End of Aid Program
by Birgit Jennen
22 February 2017, 8:41 μ.μ. EET
Bloomberg
IMF Managing Director Christine Lagarde signaled that Greek debt restructuring can wait and the country should focus on overhauling its economy for the duration of its latest bailout, which expires in 2018.
Labels:
Austerity measures,
Debt relief,
Greek Crisis,
Grexit,
SYRIZA
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