Showing posts with label Eurogroup. Show all posts
Showing posts with label Eurogroup. Show all posts

Monday, July 10, 2017

Euro Zone Set to OK Release of Loans to Greece This Week-EU Official

By REUTERSJULY 6, 2017, 3:21 P.M. E.D.T.

The New York Times

BRUSSELS — Eurozone creditors are set to give their final go-ahead to the release of loans to Greece on Friday under a political agreement reached in June, a euro zone official said on Thursday.

Greece needs new loans under its current 86 billion euro (76 billion pounds) bailout programme, the third since 2010, to pay debt due this month.

Wednesday, December 7, 2016

Europe's Still Dithering Over Greece

Editorial Board
DEC 7, 2016 12:30 AM EST
This week, the European Union’s finance ministers granted some new debt relief to Greece. The new “short-term” measures are better than nothing -- but they’re less than a convincing solution to a problem that has dragged on far too long.

The deal, sketched out and agreed to in principle earlier this year, should help the Greek government convince voters to keep accepting much-needed domestic reform. That’s good. It isn’t enough, though, to put the country’s debts and budget plans on a sustainable footing. That’s why the International Monetary Fund, whose support will be necessary to achieve that larger goal, isn’t yet on board. After years of muddling through, the issue still isn’t resolved.

Tuesday, December 6, 2016

Eurozone Finance Ministers Agree to Some Debt Relief for Greece’s Bailout

Maturities extended and interest rates locked on some Greek debt but no agreement yet on IMF participation

The Wall Street Journal

Updated Dec. 5, 2016 4:10 p.m. ET

BRUSSELS—Eurozone finance ministers, seeking to get the International Monetary Fund to participate in Greece’s bailout, agreed on a package of short-term measures that could ease the country’s debt load by around a fifth in 2060.

The ministers, gathering in Brussels for their monthly meeting on Monday, had hoped to move closer to agreeing on a set of overhauls Greece must enact under its bailout—which could reach €86 billion ($92.3 billion)—as well as a series of debt-relief measures from its European creditors. Both steps are required to get the IMF to participate in the bailout.

Wednesday, May 25, 2016

Greece to Get $11.5 Billion Payout as Debt Relief Weighed

 Ian Wishart

 Corina Ruhe

 Mark Deen

May 25, 2016 — 3:52 AM EEST Updated on May 25, 2016


Greece’s creditors reached an agreement that will allow the release of 10.3 billion euros ($11.5 billion) of aid and committed to ease the nation’s 321 billion euros of debt.
At a meeting of euro-area finance ministers in Brussels Tuesday, the International Monetary Fund stood down from its hard-line stance after delaying the payout, having insisted that Greece’s program didn’t offer a path to fiscal sustainability.

E.U. Ministers Agree to Extend Another Lifeline to Greece


The New York Times

BRUSSELS — Fearing a renewed crisis in Greece that could set off economic shock waves, policy makers across three continents have scrambled to strike a deal to ease the country’s debt burden. There have been meetings in the United States, a diplomatic blitz in Europe and talks in Japan.

In an agreement announced early Wednesday, Greece won additional pledges of debt relief, but nothing substantial until 2018 at the earliest, and only then if it continues to carry out painful reforms. Even so, the accord could help ease concerns about another flare-up of a crisis in Greece as the region deals with a mass influx of migrants and a continuing terrorist threat.