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.
"Ό,τι η ψυχή επιθυμεί, αυτό και πιστεύει." Δημοσθένης (Whatever the soul wishes, thats what it believes, Demosthenes)
Showing posts with label Third Memorandum. Show all posts
Showing posts with label Third Memorandum. Show all posts
Thursday, June 15, 2017
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
UPDATE 1-Greece targeting sub-5 percent yields for market return
Wed Jun 7, 2017 | 2:17pm EDT
Reuters
* Greece wants yields below 5 pct before debt market return
* ECB support would boost chances considerably
* Decisions will depend on outcome of Eurogroup meeting (Adds detail, background, quotes)
By Lefteris Papadimas and Marc Jones
Reuters
* Greece wants yields below 5 pct before debt market return
* ECB support would boost chances considerably
* Decisions will depend on outcome of Eurogroup meeting (Adds detail, background, quotes)
By Lefteris Papadimas and Marc Jones
Labels:
Austerity measures,
Grexit,
SYRIZA,
Third Memorandum
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
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.
Tuesday, June 6, 2017
Despite Economic Problems, Greece's Tourism Looking Good In 2017
JUN 5, 2017, 11:23 AM
Lea Lane , CONTRIBUTOR
Forbes
The past few years have been tough ones for the Greek economy and for its tourism industry. As a traveler who has written two guidebooks on Greece, I've felt sure that tourism there would eventually bounce back, but when?
News is good: The Greek National Tourism Organization (GNTO) announced that it expects a record-breaking 30 million international visitors to Greece for 2017. This represents a growth rate of 7%, or an additional 2 million additional visitors over the previous year. 900,000 U.S. travelers are expected to visit the country this year.
Lea Lane , CONTRIBUTOR
Forbes
The past few years have been tough ones for the Greek economy and for its tourism industry. As a traveler who has written two guidebooks on Greece, I've felt sure that tourism there would eventually bounce back, but when?
News is good: The Greek National Tourism Organization (GNTO) announced that it expects a record-breaking 30 million international visitors to Greece for 2017. This represents a growth rate of 7%, or an additional 2 million additional visitors over the previous year. 900,000 U.S. travelers are expected to visit the country this year.
Labels:
Austerity measures,
Economy,
Greece,
Third Memorandum,
Tourism
Friday, June 2, 2017
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.
Labels:
Austerity measures,
Germany,
Greek Crisis,
IMF,
SYRIZA,
Third Memorandum
Wednesday, May 31, 2017
Greece denies report it may opt out of receiving more bailout money
Tue May 30, 2017 | 10:34am EDT
Reuters
By Renee Maltezou | ATHENS
Greece on Tuesday denied a German newspaper report it could refuse receipt of bailout loans needed to make a July debt repayment if its lenders fail to offer clear debt relief terms, despite it having passed more reforms.
Reuters
By Renee Maltezou | ATHENS
Greece on Tuesday denied a German newspaper report it could refuse receipt of bailout loans needed to make a July debt repayment if its lenders fail to offer clear debt relief terms, despite it having passed more reforms.
Labels:
Austerity measures,
Grexit,
SYRIZA,
Third Memorandum
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
Wednesday, May 24, 2017
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.
Labels:
Debt crisis,
Germany,
Greek Crisis,
IMF,
Structural Reforms,
SYRIZA,
Third Memorandum
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
Tuesday, May 16, 2017
Greece cuts 2017 growth forecast
Sat May 13, 2017 | 5:24pm EDT
Reuters
Greece cut its 2017 growth forecast to 1.8 percent from 2.7 percent, according to a mid-term budget plan unveiled late on Saturday, driven by uncertainty caused by delays in concluding the latest review of bailout reforms.
Greece and its foreign creditors reached a deal on reforms in early May after six months of tense negotiations but the wrangling hurt economic activity. The Greek central bank governor had warned the delays could hobble economic recovery.
Reuters
Greece cut its 2017 growth forecast to 1.8 percent from 2.7 percent, according to a mid-term budget plan unveiled late on Saturday, driven by uncertainty caused by delays in concluding the latest review of bailout reforms.
Greece and its foreign creditors reached a deal on reforms in early May after six months of tense negotiations but the wrangling hurt economic activity. The Greek central bank governor had warned the delays could hobble economic recovery.
Labels:
Austerity measures,
Economy,
Greece,
Grexit,
Growth,
SYRIZA,
Third Memorandum
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
Tuesday, May 2, 2017
Pledging more austerity, Greece cuts deal with lenders
Tue May 2, 2017 | 3:47am EDT
Reuters
By Renee Maltezou | ATHENS
Promising to cut pensions and give taxpayers fewer breaks, Greece has paved the way for the disbursement of further rescue funds from international lenders and possibly opened the door to reworking its massive debt.
Officials from both sides reached a deal early on Tuesday on a package of bailout-mandated reforms, ending six months of staff-level haggling. Greek Finance Minister Euclid Tsakalotos announced it with a term associated with papal elections.
Reuters
By Renee Maltezou | ATHENS
Promising to cut pensions and give taxpayers fewer breaks, Greece has paved the way for the disbursement of further rescue funds from international lenders and possibly opened the door to reworking its massive debt.
Officials from both sides reached a deal early on Tuesday on a package of bailout-mandated reforms, ending six months of staff-level haggling. Greek Finance Minister Euclid Tsakalotos announced it with a term associated with papal elections.
Labels:
Austerity measures,
Grexit,
SYRIZA,
Third Memorandum
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.
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
Tuesday, April 25, 2017
Deutsche Invest highest bidder for Greece's Thessaloniki Port
Mon Apr 24, 2017 | 8:49pm IST
Reuters
German private equity firm Deutsche Invest Equity Partners was the highest bidder for a majority stake in Greece's Thessalonki Port with 231.9 million euros, the country's privatisation agency HRADF said on Monday.
Reuters
German private equity firm Deutsche Invest Equity Partners was the highest bidder for a majority stake in Greece's Thessalonki Port with 231.9 million euros, the country's privatisation agency HRADF said on Monday.
Labels:
Privatizations,
Structural Reforms,
SYRIZA,
Third Memorandum
Subscribe to:
Posts (Atom)