By NIKI KITSANTONISMAY 25, 2017
The New York Times
ATHENS — A bomb exploded on Thursday in a car carrying Lucas Papademos, a former prime minister of Greece, through central Athens, the police said. Mr. Papademos, 69, was injured in the explosion, along with the driver and another person in the car.
A government spokesman, Dimitris Tzanakopoulos, said Thursday evening that the three were in “stable condition, are conscious and are undergoing all the necessary medical tests.”
Showing posts with label Greek Crisis. Show all posts
Showing posts with label Greek Crisis. Show all posts
Friday, May 26, 2017
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.
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.
Greece Has the Resources to Heal Itself
But it will have to curb tax evasion or remain an eternal ward of the euro zone.
By Leonid Bershidsky
Bloomberg
23 May 2017
The euro area's finance ministers again failed to come to an agreement on debt relief for Greece. No surprise there. Hammering out the details would force them to accept an uncomfortable reality: Greece won't be ready to tap private debt markets for years to come. In the meantime, if it wants to get off life support, it will have to find a way to cut tax evasion.
By Leonid Bershidsky
Bloomberg
23 May 2017
The euro area's finance ministers again failed to come to an agreement on debt relief for Greece. No surprise there. Hammering out the details would force them to accept an uncomfortable reality: Greece won't be ready to tap private debt markets for years to come. In the meantime, if it wants to get off life support, it will have to find a way to cut tax evasion.
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
Tuesday, May 16, 2017
China's Xi offers indebted Greece strong support
Sat May 13, 2017 | 12:50am EDT
Reuters
Chinese President Xi Jinping offered the prime minister of deeply indebted Greece strong support on Saturday, saying the two countries should expand cooperation in infrastructure, energy and telecommunications.
Xi told Prime Minister Alexis Tsipras that Greece was an important part in China's new Silk Road strategy.
"At present, China and Greece's traditional friendship and cooperation continues to glow with new dynamism," China's Foreign Ministry cited Xi as saying.
Reuters
Chinese President Xi Jinping offered the prime minister of deeply indebted Greece strong support on Saturday, saying the two countries should expand cooperation in infrastructure, energy and telecommunications.
Xi told Prime Minister Alexis Tsipras that Greece was an important part in China's new Silk Road strategy.
"At present, China and Greece's traditional friendship and cooperation continues to glow with new dynamism," China's Foreign Ministry cited Xi as saying.
Thursday, April 27, 2017
I.M.F. Torn Over Whether to Bail Out Greece Once Again
By LANDON THOMAS Jr.APRIL 21, 2017
The New York Times
WASHINGTON — As the International Monetary Fund approaches the seventh anniversary of the contentious Greek bailout, it is torn over whether to commit new loans to a nearly bankrupt Greece.
For more than a year, I.M.F. officials have been saying — loudly — that they cannot participate in a new rescue package for Greece unless Europe agrees to ease Greece’s onerous debt burden.
The New York Times
WASHINGTON — As the International Monetary Fund approaches the seventh anniversary of the contentious Greek bailout, it is torn over whether to commit new loans to a nearly bankrupt Greece.
For more than a year, I.M.F. officials have been saying — loudly — that they cannot participate in a new rescue package for Greece unless Europe agrees to ease Greece’s onerous debt burden.
Friday, March 24, 2017
Greece to draw up boundaries for huge Athens riviera resort
BUSINESS NEWS | Thu Mar 23, 2017 | 11:01am EDT
Reuters
Greece will soon define the boundaries of a site where investors plan to spend 7.9 billion euros ($8.5 billion) to build one of Europe's biggest coastal resorts, the culture ministry said, in a sign the delayed project may eventually go ahead.
A consortium of Abu Dhabi and Chinese investors (0656.HK), led by Greece's Lamda (LMDr.AT), signed a deal in 2014 for the 99-year lease of a sprawling area at the former Athens airport in Hellenikon and the development of a coastal town.
Reuters
Greece will soon define the boundaries of a site where investors plan to spend 7.9 billion euros ($8.5 billion) to build one of Europe's biggest coastal resorts, the culture ministry said, in a sign the delayed project may eventually go ahead.
A consortium of Abu Dhabi and Chinese investors (0656.HK), led by Greece's Lamda (LMDr.AT), signed a deal in 2014 for the 99-year lease of a sprawling area at the former Athens airport in Hellenikon and the development of a coastal town.
Tuesday, March 21, 2017
Lenders and Greece 'wide apart' on bailout review: euro zone official
Thu Mar 16, 2017 | 12:44pm EDT
Reuters
By Francesco Guarascio and Lefteris Papadimas | BRUSSELS/ATHENS
Greece and its international creditors remain divided over the terms of a review of the country's bailout program, a senior euro zone official said on Thursday, a gap that will prevent Athens from getting fresh financial support.
Reuters
By Francesco Guarascio and Lefteris Papadimas | BRUSSELS/ATHENS
Greece and its international creditors remain divided over the terms of a review of the country's bailout program, a senior euro zone official said on Thursday, a gap that will prevent Athens from getting fresh financial support.
Police find 8 parcel bombs in Greece headed to EU countries
No one was hurt when the parcels were discovered. Police gave no further details.
The Toronto Star
By The Associated Press
Mon., March 20, 2017
ATHENS, GREECE—Police in Greece have discovered and neutralized eight parcel bombs, addressed to European Union finance officials and businesses in various European countries, at a postal sorting office near Athens.
The Toronto Star
By The Associated Press
Mon., March 20, 2017
ATHENS, GREECE—Police in Greece have discovered and neutralized eight parcel bombs, addressed to European Union finance officials and businesses in various European countries, at a postal sorting office near Athens.
EU Pressures Greece to Resolve Issues as New Debt Crisis Looms
by Nikos Chrysoloras , Corina Ruhe , and Rainer Buergin
March 20, 2017, 2:00 AM GMT+2 March 20, 2017, 8:29 PM GMT+2
Bloomberg
Further delay would hurt investor, consumer confidence
Eurogroup reiterates calls for Greece to meet loan clauses
March 20, 2017, 2:00 AM GMT+2 March 20, 2017, 8:29 PM GMT+2
Bloomberg
Further delay would hurt investor, consumer confidence
Eurogroup reiterates calls for Greece to meet loan clauses
Monday, March 13, 2017
How does jailing the statisticians fix Greece’s financial crisis? It doesn’t.
By Anbar Aizenman, Anisha Chinwalla and Benjamin A.T. Graham
March 13 at 5:00 AM
The Washington Post
The Greek government’s ongoing attempts to imprison Andreas Georgiou will reshape the Greek economy — in ways that may last for decades. Georgiou is a statistician who’s been accused by the government of inflating data on the size of the Greek deficit. He’s awaiting trial — for telling the truth about the Greek economy.
Georgiou has been acquitted in four trials since 2011, most recently in December. Greek politicians are still pushing the case, which is now at the Greek Supreme Court. Georgiou appears to be a convenient scapegoat for Greek politicians trying to avoid blame for their country’s ongoing financial crisis.
March 13 at 5:00 AM
The Washington Post
The Greek government’s ongoing attempts to imprison Andreas Georgiou will reshape the Greek economy — in ways that may last for decades. Georgiou is a statistician who’s been accused by the government of inflating data on the size of the Greek deficit. He’s awaiting trial — for telling the truth about the Greek economy.
Georgiou has been acquitted in four trials since 2011, most recently in December. Greek politicians are still pushing the case, which is now at the Greek Supreme Court. Georgiou appears to be a convenient scapegoat for Greek politicians trying to avoid blame for their country’s ongoing financial crisis.
Tuesday, February 28, 2017
Greece Said to Expect Revised Bailout Proposal for Tuesday Talks
by Sotiris Nikas
28 February 2017, 4:03 π.μ. EET
Bloomberg
Greece’s auditors are pulling together a list of policies the country needs to implement to unlock additional bailout funds as they prepare for the resumption of talks with Athens on Tuesday, two people familiar with the matter said.
Greece has asked European lenders for a draft Supplemental Memorandum of Understanding and the International Monetary Fund for a Memorandum of Economic and Financial Policies as it braces for details of creditor demands, the people said, declining to be identified as negotiations between the two sides aren’t public. The government expects an accord in March or early April, but the scale of pending issues raises concerns they may be politically hard to sell at home, they said.
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.
Tuesday, February 14, 2017
Germany wants Greece in euro zone, IMF says no special deals
BUSINESS NEWS | Mon Feb 13, 2017 | 5:20pm EST
By Jan Strupczewski and Joseph Nasr | BRUSSELS/BERLIN
Germany on Monday voiced support for Greece to stay in the euro zone and the European Commission dispatched a senior official to Athens to persuade it to take on further reforms to salvage its bailout accord.
International Monetary Fund chief Christine Lagarde, meanwhile, remained firm that as a lender the IMF could not cut any special deals for the crisis-hit country, which has received three bailouts since 2010.
The moves came as the European Commission forecast a large jump in economic growth for Greece of 2.7 percent and 3.1 percent, respectively, this year and next.
Thursday, February 9, 2017
The IMF Staff Has It Right on Greece
FEB 8, 2017 2:00 AM EST
By Mohamed A. El-Erian
Bloomberg
When the International Monetary Fund’s board met Monday to discuss Greece, it was heartening to read that “most Executive Directors” agreed with the staff’s view that the country’s debt, at 179 percent of gross domestic product at the end of 2015, was “unsustainable.” Yet “some directors had different views on the fiscal path and debt sustainability.” This division within the board also applied to what Greece still needs to do with its budget. With the medium-term primary fiscal surplus heading to 1.5 percent of GDP, “most Directors agreed that Greece does not require further fiscal consolidation at this time.” But, again, “some Directors favored a surplus of 3.5 of GDP by 2018.”
Wednesday, February 8, 2017
Greece: Priorities for a Return to Sustainable Growth
(From the IMF site)
February 7, 2017
Greece should deepen and accelerate reforms, which, together with further debt relief, are needed to allow the economy to return to a sustainable growth path, the IMF said in its latest annual assessment of the Greek economy.
The IMF’s Article IV report notes that the country has made progress in reining in its fiscal and external deficits, although this has taken a heavy toll on society. The report identifies a path to sustainable growth and prosperity that requires a two-pronged approach: ambitious policies on the part of the Greek authorities and significant debt relief on the part of Greece’s European partners.
The Q&A below highlights some of the key issues about the country’s progress and its reform priorities for the period ahead.
February 7, 2017
Greece should deepen and accelerate reforms, which, together with further debt relief, are needed to allow the economy to return to a sustainable growth path, the IMF said in its latest annual assessment of the Greek economy.
The IMF’s Article IV report notes that the country has made progress in reining in its fiscal and external deficits, although this has taken a heavy toll on society. The report identifies a path to sustainable growth and prosperity that requires a two-pronged approach: ambitious policies on the part of the Greek authorities and significant debt relief on the part of Greece’s European partners.
The Q&A below highlights some of the key issues about the country’s progress and its reform priorities for the period ahead.
Monday, February 6, 2017
Greece’s Response to its Resurgent Debt Crisis: Prosecute the Statistician
Andreas Georgiou, who became Athens’s statistics chief in 2010 to fix data fraud, now faces repeated accusations he manipulated figures to help impose austerity programs
By MARCUS WALKER
Feb. 6, 2017 10:53 a.m. ET
38 COMMENTS
ATHENS—Greece is struggling under its austerity regime and new questions are mounting as to whether it can satisfy its bailout terms. Some people in high places know just whom to blame—a statistician in rural Maryland.
Before Greece’s debt crisis, its governments manipulated statistics and masked the size of budget deficits, waste and patronage. The statistician, Andreas Georgiou, moved from the U.S. to become Greece’s first independent head of statistics in 2010. The European Union certified he subsequently fixed the omissions and reported the deficit in full.
On the contrary, Mr. Georgiou’s foes claim, he manipulated the deficit figures as part of a plot to force severe austerity on Greece under the 2010 bailout “Memorandum” imposed by the EU and International Monetary Fund.
By MARCUS WALKER
Feb. 6, 2017 10:53 a.m. ET
38 COMMENTS
ATHENS—Greece is struggling under its austerity regime and new questions are mounting as to whether it can satisfy its bailout terms. Some people in high places know just whom to blame—a statistician in rural Maryland.
Before Greece’s debt crisis, its governments manipulated statistics and masked the size of budget deficits, waste and patronage. The statistician, Andreas Georgiou, moved from the U.S. to become Greece’s first independent head of statistics in 2010. The European Union certified he subsequently fixed the omissions and reported the deficit in full.
On the contrary, Mr. Georgiou’s foes claim, he manipulated the deficit figures as part of a plot to force severe austerity on Greece under the 2010 bailout “Memorandum” imposed by the EU and International Monetary Fund.
Friday, February 3, 2017
The IMF Should Get Out of Greece
FEB 3, 2017 1:00 AM EST
Bloomberg
By
Ashoka Mody
The International Monetary Fund's involvement in Greece has been an unmitigated disaster: Time and again, its failure to heed crucial lessons has visited suffering upon the Greek people. When the fund's directors meet on Monday, they should agree to forgive the country's debts and get out.
The IMF should never have gotten into Greece in the first place. As late as March 2010, with concerns about the Greek government's ability to pay its debts roiling markets, Europe's leaders wanted the IMF to stay away. Europeans feared that the fund’s financial assistance to one of their own would signal broader weakness in the currency union. As Jean-Claude Juncker famously put it: “If California had a refinancing problem, the United States wouldn’t go to the IMF.”
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