Showing posts with label SYRIZA. Show all posts
Showing posts with label SYRIZA. Show all posts

Wednesday, May 2, 2018

RPT-UPDATE 2-Euro zone discusses Greece after bailout, debt relief decisions in June

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.

Wednesday, April 18, 2018

Hundreds of refugees, migrants cross into northern Greece

By Associated Press April 17 at 5:37 AM

The Washington Post

THESSALONIKI, Greece — Greek authorities say hundreds of refugees and other migrants have crossed the land border with Turkey in the past two days, with illegal crossings in the area increasing significantly following Turkey’s military operation in northern Syria.

Police said Tuesday they detained 370 people the previous day who had crossed the Evros River, which forms a natural border between Greece and Turkey, and another 140 people on Sunday.

The land route from Turkey into northeastern Greece has become increasingly popular as conditions deteriorate on Greek islands, long the preferred route, where strict controls are now imposed on movement and camps are overcrowded.

Authorities have noted a surge in arrivals across the Evros, with 1,658 people detained in March compared to 586 in February and 262 in March 2017.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Monday, April 16, 2018

Tsipras Fights on All Fronts as Greece Back in the Spotlight

By Elena Chrepa
16 Απριλίου 2018, 8:00 π.μ. EEST Updated on 16 Απριλίου 2018, 3:20 μ.μ. EEST
Economy remains priority in the final race to bailout exit...
...But concerns rising on Turkey, Macedonia, looming election

Bloomberg

Consider what Greek Prime Minister Alexis Tsipras is up against.

As Greece prepares to free itself from an eight-year European bailout, its 43 year-old premier is confronting challenges at home and abroad. On the domestic front: preparations for post-bailout economic life and the first general election since the end of the program, including feuds with both allies and rivals. On the foreign-policy front: increased tensions with traditional rival Turkey and regional instability stemming from a dispute over a neighboring country’s name.

Tsipras’s ability to navigate through all this could determine just how stable the country and its region will be in coming years, experts say, and the European Union, the U.S. and the North Atlantic Treaty Organization are all watching with interest.

“The wo

Friday, April 13, 2018

Greece’s Island of Despair

Text by ILIANA MAGRAMARCH 29, 2018

The New York Times

His brown eyes sunken and flat, Jahangir Baroch had spent another sleepless night in the metal container on the Greek island of Lesbos where he has lived for more than a year.

“There was no electricity in the container last night,” Mr. Baroch, 26, said desperately, at a center for refugees, away from the holding camp in Moria, where he is housed. “It was like a fridge.”

“I want to go to Athens,” said Mr. Baroch, who came from Baluchistan, an embattled province in Pakistan. “If you don’t want me, I want to go to another country.”

“Why am I here?” he asked, somberly.

Others are asking the same question two years after the European Union struck a deal with Turkey aimed at cutting off the route across the Aegean Sea for asylum seekers, many propelled by wars in Syria, Iraq and Afghanistan.

Since then, thousands have remained stranded on Lesbos, unwilling to go back to the countries they left, unable to move forward, toward the opportunity they had hoped to find in Europe. Though the numbers are fewer, they keep coming.

The lucky ones, whose asylum applications are accepted, are eventually shipped to the Greek mainland. Those whose applications are rejected (they can apply twice) are sent back to Turkey as part of the deal with the European Union.

Uber to suspend service in Greece after new legislation

APRIL 5, 2018 / 11:10 AM / 8 DAYS AGO
Reuters Staff

3 MIN READ

ATHENS (Reuters) - Ride-hailing service Uber said on Thursday it would suspend its licensed service in Greece after the approval of local legislation which imposes stricter regulation on the sector.

Uber, which operates a licensed service in the Greek capital, has faced opposition from local taxi drivers who accuse it of taking their business.

“New local regulations were voted on recently with provisions that impact ride-sharing services,” Uber said in a blog post. “We have to assess if and how we can operate within this new framework and so will be suspending uberX in Athens from next Tuesday until we can find an appropriate solution.”

Uber operates two services in Athens: UberX, which uses professional licensed drivers, and UberTAXI, which uses taxi drivers.

Trash-Talking Toward Conflict?


The New York Times

By Nikos Konstandaras

Mr. Konstandaras is a columnist at the newspaper Kathimerini and a contributing opinion writer.

April 8, 2018
ATHENS — In a rapidly intensifying war of words, government officials of the nominal NATO allies Greece and Turkey have been exchanging insults and threats in the past few weeks, recalling conflicts from a shared and bloody history. Relations have rarely been rosy, but the speed with which they have worsened, and the level of vitriol, have raised fears that the two heavily armed neighbors may be trash-talking their way to new conflict.

Adding to those concerns is the awareness that the two most credible mediators between the two sides — the United States and the European Union — appear to have little leverage with Turkey.

Greece and Turkey have played decisive roles in each other’s history, and this determines their relations today. The Greeks rebelled against almost four centuries of Ottoman rule in 1821 and, after years of war (and foreign intervention), won their freedom with the declaration of the Greek state in 1830. Turks commemorate Sept. 9, the date on which Turkish troops entered Izmir in 1922 after routing a Greek invasion force, ending millenniums of Greek presence in Asia Minor and leading to the declaration of a modern, secular Turkey.

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.

Greece Is Quietly Backsliding on Reform

Greece needs public sector reform and investment, not more debt-fueled consumption.
By Phylis Papadavid
Bloomberg

Greece’s planned August exit from its third European Stability Mechanism bailout has triggered investor optimism. Its July 2017 bond issuance, the first in three years, was oversubscribed, as were subsequent issuances in February of this year. And yet financial investors should curb their optimism. Greece’s return to the markets, and its economic recovery, are likely to be a bumpy and slow -- especially if it continues to delay key reforms.

Clashes break out in Greece over foreclosures


By Associated Press March 14 at 12:34 PM
ATHENS, Greece — Five people were detained Wednesday during clashes between riot police and protesters attempting to disrupt a central Athens auction of foreclosed properties.

Left-wing activists have stepped up protests in recent weeks against online auctions as the government remains under pressure from bailout lenders to speed up the process and ease the strain on banks stemming from a huge backlog of nonperforming loans.

The auctions are required as part of the country’s international bailout, which is due to end in August. Creditors have also promised to deliver some debt relief for Greece if it fulfils all the conditions of the bailout.

Friday, March 2, 2018

2 Greek soldiers on patrol accidentally stray into Turkey

By Associated Press March 2 at 4:35 AM

The Washington Post

THESSALONIKI, Greece — Greece says two of its soldiers on patrol on the Greek-Turkish border accidentally strayed into Turkey and have been taken to the city of Edirne by Turkish authorities.

The Greek army said Friday the two-man patrol strayed into Turkish territory on Thursday because of bad weather, and that Greek and Turkish authorities were in contact with each other and were undertaking procedures for the two to be returned to Greece.

Most of the Greek-Turkish border is marked by a river, and a fence runs along much of the land section. Some parts, however, aren’t clearly marked, and the area where the soldiers strayed was reportedly in woodland.

Although NATO allies, relations between Greece and Turkey are often strained.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Tuesday, February 27, 2018

Greece enters final round of reform talks with creditors


The Washington Post

By Associated Press February 26 at 11:21 AM
ATHENS, Greece — Greece entered a last round of reform talks with creditors Monday, just five months before the country’s massive rescue program ends — and with the government and central bank publicly disagreeing on how to finance the nation after the bailout.

Government officials said the talks with representatives of Greece’s European partners and the International Monetary Fund in Athens would cover privatizations and energy.

But the negotiations were upstaged by a continued spat between Greece’s central bank governor, Yannis Stournaras, and the government over financing policies after the bailout runs out in August. The country will then have to raise money from international investors in bond markets — at a much higher rate than bailout creditors charge.

Friday, February 23, 2018

Work has begun on whether Greece needs debt relief: EU rescue fund head

FEBRUARY 23, 2018 / 7:54 AM / UPDATED 4 HOURS AGO
Reuters Staff


TOKYO (Reuters) - Technical work has begun to determine if Greece requires debt relief after its expected exit from a bailout program later this year, the head of Europe’s rescue fund said on Friday.

Requiring investors to take a haircut, or accept losses on the value of government debt, would not be part of any restructuring once Greece exits its bailout program, said Klaus Regling, head of the European Stability Mechanism, the euro zone rescue fund.

“The technical work has started so that we are ready by the summer when the program ends,” Regling told reporters after giving a speech in Tokyo.

Greece Approves Bribery Investigation Involving Political Elite


By Niki Kitsantonis

Feb. 22, 2018
ATHENS — After 20 hours of acrimonious debate, Greek lawmakers on Thursday approved the formation of a parliamentary committee to investigate accusations linking 10 high-profile politicians to bribery by a Swiss drug manufacturer.

The investigation, which will follow separate and secret votes for each of the 10 politicians, was backed both by members of the coalition government and by some in the opposition. It will examine whether the politicians took kickbacks from the pharmaceutical company Novartis, or were aware of illicit payments.

The list of people to be investigated is dominated by the Greek political elite: It includes two former prime ministers, Antonis Samaras and Panagiotis Pikramenos; the current central bank governor, Yannis Stournaras; and the European Union commissioner for migration, Dimitris Avramopoulos.

Wednesday, February 14, 2018

Turkey Is Out of Control. Time for the U.S. to Say So.

There’s a real danger of a clash between U.S. and Turkish forces. The administration should make clear that it won’t tolerate any more bad behavior—now.

By ERIC EDELMAN and JAKE SULLIVAN February 13, 2018

Following Turkey’s incursion into Syria, the once unthinkable prospect of a direct clash between Turkish and American soldiers has become alarmingly real. Turkey’s current fight, against U.S.-backed Kurdish troops in the northwestern Syria territory of Afrin, is destabilizing enough. But the real risk will come if Turkish President Recep Tayyip Erdogan follows through on his repeated promises to press further east toward the Kurdish-controlled and U.S.-patrolled city of Manbij. The only way to prevent a conflict is for U.S. policymakers to adopt a clear and tough-minded approach to Turkey now, before things get worse.

Greece, Turkey Try to Calm Tensions After Aegean Sea Crash

The prime ministers of Greece and Turkey worked to calm tensions after Greek coast guard vessel is damaged in a collision with a Turkish patrol boat in Aegean Sea.
Feb. 13, 2018, at 4:58 p.m.

US News

https://www.usnews.com/news/world/articles/2018-02-13/erdogan-warns-greece-cyprus-over-gas-search-aegean-islets

By DEREK GATOPOULOS and SUZAN FRASER, Associated Press

ATHENS, Greece (AP) — The prime ministers of Greece and Turkey worked late Tuesday to calm escalating tensions after a Greek coast guard vessel was damaged in a collision with a Turkish patrol boat in the Aegean Sea, the site of a boundary dispute.

A government official in Athens said Prime Minister Alexis Tsipras of Greece and Turkish Prime Minister Benali Yildirim spoke by telephone about the circumstances of the boat crash. The official asked not to be named pending an official announcement.

Friday, February 9, 2018

Greece Takes Step to Normalcy With Bond as Bailout Nears End

By Sotiris Nikas  and Lyubov Pronina
8 Φεβρουαρίου 2018, 12:19 μ.μ. EET Updated on 8 Φεβρουαρίου 2018, 4:52 μ.μ. EET
Country to price seven-year bonds to yield-hungry markets
Debt relief discussion and a new monitoring scheme to come

Bloomberg

Greece will sell 3 billion euros ($3.7 billion) of seven-year bonds in another step toward exiting a bailout program in August that has kept the nation afloat.

The offer for the 2025 notes will price to yield 3.5 percent, inside an initial target of about 3.75 percent, people familiar with the matter said, asking not to be named because they’re not authorized to speak about it. Investor orders for the sale topped 6 billion euros, the people said. Barclays Plc, BNP Paribas SA, Citigroup Inc and JPMorgan Chase & Co. and Nomura Holdings Inc are the bookrunners for the bond.

Friday, January 26, 2018

Investors Welcome Greece Back Out of the Naughty Corner: Gadfly


The Washington Post

By Mark Gilbert | Bloomberg January 25
As the global elite gathers in Davos for the World Economic Forum, the European Union has been applauded for its political and economic progress in the past year. And nowhere is the bloc’s newfound cohesion more evident than in Greece.

The country has been the main beneficiary of European Central Bank President Mario Draghi’s 2012 pledge to do “whatever it takes” to save the common-currency project -- even if the nation’s debt doesn’t qualify for the central bank’s bond-buying program.

Friday, November 10, 2017

Lamda says new obstacles emerge over Hellenikon resort

NOVEMBER 10, 2017 / 12:02 PM / UPDATED 22 MINUTES AGO
Reuters Staff
2 MIN READ


ATHENS, Nov 10 (Reuters) - Greek property developer Lamda said on Friday new obstacles had appeared in its plans to develop the disused Hellenikon airport site, one of the largest projects on the country’s privatisation agenda.

Lamda said Greece’s culture ministry had declared a new archaeological area over parts of the airport compound and imposed other restrictions, a move it said was an ‘unexpected change in the contractual agreed terms’.

Greece's Eurobank close to deal to sell Romanian assets to Banca Transilvania

NOVEMBER 10, 2017 / 10:47 AM / UPDATED AN HOUR AGO
Reuters Staff
1 MIN READ

Reuters

ATHENS, Nov 10 (Reuters) - Greece’s Eurobank said it is close to finalising a deal to sell its Romanian subsidiaries to Banca Transilvania.

The potential sale is part of a restructuring plan agreed by Greece’s third largest lender with European Union authorities, and includes Romanian units Bancpost, ERB Retail Servces IFN and ERB Leasing IFN.

Public debt, unemployment, big NPL pile weigh on Greece: central bank governor

NOVEMBER 10, 2017 / 11:57 AM / UPDATED 16 MINUTES AGO
Reuters Staff
2 MIN READ


Reuters

ATHENS (Reuters) - Greece’s banks have shown progress in tackling a stockpile of non-performing loans, Bank of Greece governor Yiannis Stournaras said on Friday, but said it would remain a challenge for the country.

Greek banks are saddled with 103 billion euros in bad loans, equal to almost 60 percent of the economy, after years of financial crisis and crippling recession. The European Central Bank wants that reduced by 38 billion euros by the end of 2019.