By Sotiris Nikas and Anchalee Worrachate
29 Ιουνίου 2017, 5:04 π.μ. EEST
A new issuance in the second half looks increasingly possible
Government is in contact with investors to test the waters
Bloomberg
If Greece returns to the bond market this year, Mark Dowding would be a buyer.
“We have been bullish on Greece over the past year or so,” said the partner and portfolio manager at BlueBay Asset Management in London, which owns some long-dated Greek bonds. “We’ve also formed the view that lenders would remain committed to helping Greece. I feel relatively confident that Greece will be returning to market in the second half of this year.”
Showing posts with label Greek Crisis. Show all posts
Showing posts with label Greek Crisis. Show all posts
Thursday, June 29, 2017
Greece eyes market return as debt dispute still simmering
The Washington Post
Derek Gatopoulos | AP June 28 at 11:12 AM
LAGONISSI, Greece — Greece is on target to tap bond markets for money again by the end of this year and exit its bailout program next summer, European creditors said Wednesday.
But a spat with the International Monetary Fund over how to deal with the country’s enormous debt showed no sign of being resolved swiftly.
Derek Gatopoulos | AP June 28 at 11:12 AM
LAGONISSI, Greece — Greece is on target to tap bond markets for money again by the end of this year and exit its bailout program next summer, European creditors said Wednesday.
But a spat with the International Monetary Fund over how to deal with the country’s enormous debt showed no sign of being resolved swiftly.
Wednesday, June 28, 2017
Greece Says Needs to Step Up Privatisations
By REUTERSJUNE 28, 2017, 5:30 A.M. E.D.T.
The New York Times
ATHENS — Greece needs to step up its privatisation programme, deputy finance minister George Chouliarakis said on Wednesday.
Privatisations have been a main pillar of the country's international bailouts since 2010 but have reaped only 3.4 billion euros in revenues due to political resistance and red tape.
The New York Times
ATHENS — Greece needs to step up its privatisation programme, deputy finance minister George Chouliarakis said on Wednesday.
Privatisations have been a main pillar of the country's international bailouts since 2010 but have reaped only 3.4 billion euros in revenues due to political resistance and red tape.
Monday, June 26, 2017
Prime Real Estate On Fire Sale -- In Greece
Forbes
Panos Mourdoukoutas , CONTRIBUTOR
A deep and prolonged economic contraction has placed prime real estate on fire sale in Greece, creating good opportunities for bargain hunters. But they may not last too long.
Buying prime real estate is all about good location and good timing. Good location is usually a place with a limited amount of land for development, like a city center or a waterfront. Good timing is a period when real estate in these places goes on fire sale due to catastrophic events or prolonged economic contractions.
Panos Mourdoukoutas , CONTRIBUTOR
A deep and prolonged economic contraction has placed prime real estate on fire sale in Greece, creating good opportunities for bargain hunters. But they may not last too long.
Buying prime real estate is all about good location and good timing. Good location is usually a place with a limited amount of land for development, like a city center or a waterfront. Good timing is a period when real estate in these places goes on fire sale due to catastrophic events or prolonged economic contractions.
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
Monday, June 19, 2017
Greece’s Open Wound of Division
Nikos Konstandaras JUNE 16, 2017
The New York Times
ATHENS — Many Greeks were surprised when a mild-mannered former prime minister who tried to use unity and consensus to lead the country out of an economic and political impasse was seriously injured by a parcel bomb last month.
What followed was even worse: The attack was not greeted with unanimous condemnation, suggesting that Greece has a long way to go to heal divisions that were exacerbated by the economic crisis, that have shaped politics and that obstruct efforts to get Greece on its feet.
The New York Times
ATHENS — Many Greeks were surprised when a mild-mannered former prime minister who tried to use unity and consensus to lead the country out of an economic and political impasse was seriously injured by a parcel bomb last month.
What followed was even worse: The attack was not greeted with unanimous condemnation, suggesting that Greece has a long way to go to heal divisions that were exacerbated by the economic crisis, that have shaped politics and that obstruct efforts to get Greece on its feet.
EU's Wieser-Hope Greece Can Tap Markets by Spring 2018: ORF
By REUTERSJUNE 17, 2017, 7:30 A.M. E.D.T.
The New York Times
VIENNA — Thomas Wieser, the EU official who runs preparations for Eurogroup meetings, hopes Greece will be able to tap international markets for money between autumn this year and spring 2018, he told ORF radio on Saturday.
The New York Times
VIENNA — Thomas Wieser, the EU official who runs preparations for Eurogroup meetings, hopes Greece will be able to tap international markets for money between autumn this year and spring 2018, he told ORF radio on Saturday.
Greece blocks EU statement on China human rights at U.N.
Sun Jun 18, 2017 | 5:43pm EDT
Reuters
By Robin Emmott and Angeliki Koutantou | BRUSSELS/ATHENS
Greece has blocked a European Union statement at the United Nations criticizing China's human rights record, a decision EU diplomats said undermined efforts to confront Beijing's crackdown on activists and dissidents.
The EU, which seeks to promote free speech and end capital punishment around the world, was due to make its statement last week at the U.N. Human Rights Council in Geneva, but failed to win the necessary agreement from all 28 EU states.
Reuters
By Robin Emmott and Angeliki Koutantou | BRUSSELS/ATHENS
Greece has blocked a European Union statement at the United Nations criticizing China's human rights record, a decision EU diplomats said undermined efforts to confront Beijing's crackdown on activists and dissidents.
The EU, which seeks to promote free speech and end capital punishment around the world, was due to make its statement last week at the U.N. Human Rights Council in Geneva, but failed to win the necessary agreement from all 28 EU states.
Thursday, June 15, 2017
Greece to Get Some Cash-And Some Idea of Future Debt Relief
By REUTERSJUNE 15, 2017, 8:54 A.M. E.D.T.
The New York Times
LUXEMBOURG — Greece's international lenders prepared on Thursday to unblock as much as 8.5 billion euros (7.44 billion pounds) in loans that Athens desperately needs next month to pay its bills, and to give some idea of what debt relief they may offer over the long-term.
The chairman of euro zone finance ministers Jeroen Dijsselbloem told reporters the size of the payment to Athens would be discussed during the meeting, since lenders agreed that Greece had pushed through all the requested reforms.
The New York Times
LUXEMBOURG — Greece's international lenders prepared on Thursday to unblock as much as 8.5 billion euros (7.44 billion pounds) in loans that Athens desperately needs next month to pay its bills, and to give some idea of what debt relief they may offer over the long-term.
The chairman of euro zone finance ministers Jeroen Dijsselbloem told reporters the size of the payment to Athens would be discussed during the meeting, since lenders agreed that Greece had pushed through all the requested reforms.
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.
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.
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.
Greece to Launch New Tender for Gas Grid Sale in June-Energy Minister
By REUTERSJUNE 6, 2017, 10:21 A.M. E.D.T.
The New York Times
ATHENS — Greece will launch a new tender competition for the privatisation of its natural gas grid operator DEFSA in June, Energy Minister George Stathakis said on Tuesday.
Stathakis announced the tender in an interview with Greek news website liberal.gr without disclosing details.
The New York Times
ATHENS — Greece will launch a new tender competition for the privatisation of its natural gas grid operator DEFSA in June, Energy Minister George Stathakis said on Tuesday.
Stathakis announced the tender in an interview with Greek news website liberal.gr without disclosing details.
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.
Greece Seeks Debt Clarity as Creditors Resist Concessions
by Alessandro Speciale and Viktoria Dendrinou
31 Μαΐου 2017, 6:27 μ.μ. EEST 1 Ιουνίου 2017, 1:12 μ.μ. EEST
Bloomberg
Greece may not be offered a substantially improved debt-relief package when euro-area finance ministers discuss its bailout in Luxembourg next month, officials directly involved in the negotiations said.
Euro-zone creditors are unlikely to commit to further details of measures beyond the extension of maturities in rescue loans that they discussed last week, the officials said, asking not to be named because the ongoing talks are private. Such a deal on its own might still not be enough to convince the European Central Bank to start buying Greek bonds, they said.
31 Μαΐου 2017, 6:27 μ.μ. EEST 1 Ιουνίου 2017, 1:12 μ.μ. EEST
Bloomberg
Greece may not be offered a substantially improved debt-relief package when euro-area finance ministers discuss its bailout in Luxembourg next month, officials directly involved in the negotiations said.
Euro-zone creditors are unlikely to commit to further details of measures beyond the extension of maturities in rescue loans that they discussed last week, the officials said, asking not to be named because the ongoing talks are private. Such a deal on its own might still not be enough to convince the European Central Bank to start buying Greek bonds, they said.
Ending Greece’s Perpetual Debt Crisis
By THE EDITORIAL BOARD
JUNE 1, 2017
The New York Times
For nearly a decade, Greece has struggled under suffocating debt, which now totals more than 300 billion euros ($338 billion), or nearly double its annual economic output. Waves of austerity measures to satisfy creditors have inflicted great suffering: More than a quarter of Greeks are unemployed, and vital services, like health care and transportation, are running as bare-bones operations. The economy is in recession, and there is virtually no way Greece can dig itself out of such a deep hole.
JUNE 1, 2017
The New York Times
For nearly a decade, Greece has struggled under suffocating debt, which now totals more than 300 billion euros ($338 billion), or nearly double its annual economic output. Waves of austerity measures to satisfy creditors have inflicted great suffering: More than a quarter of Greeks are unemployed, and vital services, like health care and transportation, are running as bare-bones operations. The economy is in recession, and there is virtually no way Greece can dig itself out of such a deep hole.
Wednesday, May 31, 2017
Greece Seeks to Lure U.K.-Based Shipowners, Brokers on Brexit
by Paul Tugwell and Sotiris Nikas
31 Μαΐου 2017, 2:05 π.μ. EEST
Bloomberg
The Greek government wants to persuade shipowners and shipping-insurance companies based in London to move their European Union headquarters to Greece as the U.K. prepares to exit the bloc.
“We’re in contact with five large ship-insurance brokers who are considering various EU member countries for the transfer of their headquarters,” Shipping Minister Panagiotis Kouroumblis said in an interview in Piraeus, Greece’s biggest port. Kouroumblis declined to name the firms as the talks are private. “We’ll meet by the latest in June to discuss the terms they’d like in order to choose Greece,” he said.
31 Μαΐου 2017, 2:05 π.μ. EEST
Bloomberg
The Greek government wants to persuade shipowners and shipping-insurance companies based in London to move their European Union headquarters to Greece as the U.K. prepares to exit the bloc.
“We’re in contact with five large ship-insurance brokers who are considering various EU member countries for the transfer of their headquarters,” Shipping Minister Panagiotis Kouroumblis said in an interview in Piraeus, Greece’s biggest port. Kouroumblis declined to name the firms as the talks are private. “We’ll meet by the latest in June to discuss the terms they’d like in order to choose Greece,” he said.
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.
Sunday, May 28, 2017
White House considers naming Reince Priebus ambassador to Greece: Report
by Melissa Quinn | May 27, 2017, 4:30 PM
Washington Examiner
As President Trump and his advisers consider making changes in the White House amid the flurry of reports involving Trump's campaign associates and Russia, one such change could involve making Chief of Staff Reince Priebus the ambassador to Greece, according to a report.
Washington Examiner
As President Trump and his advisers consider making changes in the White House amid the flurry of reports involving Trump's campaign associates and Russia, one such change could involve making Chief of Staff Reince Priebus the ambassador to Greece, according to a report.
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