Greece’s government and IMF at odds over “contingency” austerity measures
The Wall Street Journal
By NEKTARIA STAMOULI and MARCUS WALKER
Updated April 26, 2016 4:31 p.m. ET
ATHENS—Negotiations between Greece and its international creditors ran into trouble on Tuesday over demands for extra austerity measures, denting hopes for a quick end to the monthslong deadlock over the country’s bailout.
The impasse is the latest in a saga of troubled talks. The Greek government and the International Monetary Fund are at loggerheads over how to find up to €3.6 billion ($4 billion) in so-called contingency measures, or additional austerity, if Greece misses its budget targets.
Wednesday, April 27, 2016
Friday, April 22, 2016
No deal between Greece and lenders seen on Friday: Eurogroup head
Fri Apr 22, 2016 3:29am EDT
Reuters
Greece and its international lenders are unlikely to reach an agreement on Friday that would unlock further loans and pave the way for debt relief talks, despite some progress made in talks on reforms, euro zone officials said on Friday.
Reuters
Greece and its international lenders are unlikely to reach an agreement on Friday that would unlock further loans and pave the way for debt relief talks, despite some progress made in talks on reforms, euro zone officials said on Friday.
Wednesday, April 20, 2016
Euro zone ready to finalize Greek deal next week, if talks succeed
Wed Apr 20, 2016 11:27am EDT Related: WORLD, GREECE, CAMPAIGN FINANCE
BRUSSELS/ATHENS | BY FRANCESCO GUARASCIO AND RENEE MALTEZOU
Reuters
Euro zone finance ministers are ready to hold an extraordinary meeting next week if negotiations on the review of the Greek reform program are concluded, a senior EU official said on Wednesday, commenting that talks remained difficult.
Discussions between Greek authorities and international lenders have resumed this week in Athens with the aim to conclude a reform review which is a condition to release more bailout money to Greece.
BRUSSELS/ATHENS | BY FRANCESCO GUARASCIO AND RENEE MALTEZOU
Reuters
Euro zone finance ministers are ready to hold an extraordinary meeting next week if negotiations on the review of the Greek reform program are concluded, a senior EU official said on Wednesday, commenting that talks remained difficult.
Discussions between Greek authorities and international lenders have resumed this week in Athens with the aim to conclude a reform review which is a condition to release more bailout money to Greece.
Islam, interment and Greece
Burying drowned migrants is part of a broader Greek problem
Apr 20th 2016, 12:55 BY M.TZ. AND ERASMUS | MYTILENE
Timekeeper
The Economist
THE newly established graveyard, a short drive west of Mytilene port, is a desperately sad place. In the middle of an olive grove, there are dozens of mounds of crumbly earth, some created only a month ago, with markers offering perfunctory information about the people who lie underneath: a name, a date of death or discovery and a date of interment. Sometimes the name is not known.
The crazy reason we might be facing a huge crisis in Greece again
By Matt O'Brien
April 20 at 6:30 AM
The Washington Post
Sometimes it's hard to tell whether history is repeating itself as tragedy or as farce.
Greece, after all, has had plenty of both over the past eight years. Its economy has shrunk as much as the United States' did during the Great Depression, its government has collapsed over and over and over again as a result, and its bailout is in its third iteration — without which it would have been forced out of the euro zone. How bad are things? Greek Prime Minister Alexis Tsipras just touted the fact that his country's unemployment rate has fallen from 26.5 percent to 24.9 percent, and that there was a month last year in which Greece's industrial production grew faster than anyone else's in Europe.
When life doesn't even give you lemons, you have to pick cherries instead.
Sunday, April 17, 2016
Greek Minister Reaches Out to Lagarde as Bailout Talks Drag
Theophilos Argitis
theoargitis
Rainer Buergin
RB1atBBG
April 17, 2016 — 1:54 AM EEST Updated on April 17, 2016 — 6:04 AM EEST
Greece’s finance minister arranged a last-minute follow-up meeting with International Monetary Fund Managing Director Christine Lagarde before returning to Athens from a gathering of global policy makers in Washington, as the nation seeks to unlock more bailout funds from creditors.
The creditors are considering proposing additional austerity measures that would kick in if the nation missed budget targets, according to a European official familiar with the talks who asked not to be identified. The potential plan is part of efforts to conclude the current round of talks with Greece amid differences between Europe and the IMF, which is reviewing whether to join the latest program and is skeptical that Greece will be able to achieve the fiscal goals.
theoargitis
Rainer Buergin
RB1atBBG
April 17, 2016 — 1:54 AM EEST Updated on April 17, 2016 — 6:04 AM EEST
Greece’s finance minister arranged a last-minute follow-up meeting with International Monetary Fund Managing Director Christine Lagarde before returning to Athens from a gathering of global policy makers in Washington, as the nation seeks to unlock more bailout funds from creditors.
The creditors are considering proposing additional austerity measures that would kick in if the nation missed budget targets, according to a European official familiar with the talks who asked not to be identified. The potential plan is part of efforts to conclude the current round of talks with Greece amid differences between Europe and the IMF, which is reviewing whether to join the latest program and is skeptical that Greece will be able to achieve the fiscal goals.
Thursday, April 14, 2016
ISIS Expands Reach Despite Military and Financial Setbacks
By MATTHEW ROSENBERG, HELENE COOPER and NICHOLAS KULISHAPRIL 12, 2016
The New York Times
WASHINGTON — American airstrikes have killed 25,000 Islamic State fighters in Iraq and Syria and incinerated millions of dollars plundered by the militants, according to Pentagon officials.
Iraqi and Kurdish forces have taken back 40 percent of the militant group’s land in Iraq, the officials say, and forces backed by the West have seized a sizable amount of territory in Syria that had been controlled by the Islamic State, also known as ISIS or ISIL.
But the battlefield successes enjoyed by Western-backed forces in the Islamic State’s heartland have done little to stop the expansion of the militants to Europe, North Africa and Afghanistan. The attacks this year in Brussels, Istanbul and other cities only reinforced the sense of a terrorist group on the march, and among American officials and military experts, there is renewed caution in predicting progress in a fight that they say is likely to go on for years.
The New York Times
WASHINGTON — American airstrikes have killed 25,000 Islamic State fighters in Iraq and Syria and incinerated millions of dollars plundered by the militants, according to Pentagon officials.
Iraqi and Kurdish forces have taken back 40 percent of the militant group’s land in Iraq, the officials say, and forces backed by the West have seized a sizable amount of territory in Syria that had been controlled by the Islamic State, also known as ISIS or ISIL.
But the battlefield successes enjoyed by Western-backed forces in the Islamic State’s heartland have done little to stop the expansion of the militants to Europe, North Africa and Afghanistan. The attacks this year in Brussels, Istanbul and other cities only reinforced the sense of a terrorist group on the march, and among American officials and military experts, there is renewed caution in predicting progress in a fight that they say is likely to go on for years.
Greece Holds Activists as Migrants and Police Clash Anew at Macedonia Border
By LIZ ALDERMANAPRIL 13, 2016
The New York Times
ATHENS — Clashes erupted at Greece’s northern border for the second time in three days on Wednesday, with the Macedonian police firing tear gas on scores of migrants as they protested border closings that have left more than 12,000 stranded in a makeshift refugee camp.
The protests in Idomeni, a town in Greece on the border with Macedonia, came as Greek authorities arrested 14 activists there, saying that they had incited the migrants to storm the razor-wire fence dividing the two countries.
The New York Times
ATHENS — Clashes erupted at Greece’s northern border for the second time in three days on Wednesday, with the Macedonian police firing tear gas on scores of migrants as they protested border closings that have left more than 12,000 stranded in a makeshift refugee camp.
The protests in Idomeni, a town in Greece on the border with Macedonia, came as Greek authorities arrested 14 activists there, saying that they had incited the migrants to storm the razor-wire fence dividing the two countries.
Wednesday, April 13, 2016
Number Of Refugees Arriving In Greece Drops Dramatically
Only 80 migrants and refugees arrived in Greece over a 24-hour period this week, compared to an average of 1,150 per day in mid-March.
04/12/2016 06:55 pm ET
The Huffington Post
Danae Leivada
Reporter, The Huffington Post
ATHENS, Greece — Fewer than 100 migrants and refugees crossed the Aegean Sea from Turkey to Greece over a 24-hour span Monday and Tuesday, a dramatic drop from the number of arrivals earlier this year. The declining numbers could fuel hope that an agreement between Turkey and the European Union to stem the flow of migrants to Greece is starting to have an effect.
Just 80 migrants and refugees arrived in Greece from Monday morning to 9 a.m. Tuesday, compared to an average of 1,150 per day in mid-March, before the implementation of the agreement, according to the UN Refugee Agency.
04/12/2016 06:55 pm ET
The Huffington Post
Danae Leivada
Reporter, The Huffington Post
ATHENS, Greece — Fewer than 100 migrants and refugees crossed the Aegean Sea from Turkey to Greece over a 24-hour span Monday and Tuesday, a dramatic drop from the number of arrivals earlier this year. The declining numbers could fuel hope that an agreement between Turkey and the European Union to stem the flow of migrants to Greece is starting to have an effect.
Just 80 migrants and refugees arrived in Greece from Monday morning to 9 a.m. Tuesday, compared to an average of 1,150 per day in mid-March, before the implementation of the agreement, according to the UN Refugee Agency.
Tuesday, April 12, 2016
Ten Billion Risks in Greece's Summer of Discontent
APRIL 12, 2016 2:05 AM EST
By
Mark Gilbert
Bloomberg
Europe is gearing up for a summer of discontent. There's the U.K. referendum on European Union membership, a simmering refugee crisis and an increasingly desperate European Central Bank. Taken together, this list gives reason enough to be fearful about the health of the European project in the coming months.
But there is also Greece, which is caught in a spat between Germany and the International Monetary Fund over debt relief as it seeks yet more bailout money. Greece -- whose economic crisis already threatened to destroy the irrevocable nature of euro membership -- still seems to be dragging its feet over state asset sales and pension reform. It is hemorrhaging cash from its banking system. Athens has to find more than 5 billion euros ($5.7 billion) to meet its debts in June -- and another 5 billion euros in July.
By
Mark Gilbert
Bloomberg
Europe is gearing up for a summer of discontent. There's the U.K. referendum on European Union membership, a simmering refugee crisis and an increasingly desperate European Central Bank. Taken together, this list gives reason enough to be fearful about the health of the European project in the coming months.
But there is also Greece, which is caught in a spat between Germany and the International Monetary Fund over debt relief as it seeks yet more bailout money. Greece -- whose economic crisis already threatened to destroy the irrevocable nature of euro membership -- still seems to be dragging its feet over state asset sales and pension reform. It is hemorrhaging cash from its banking system. Athens has to find more than 5 billion euros ($5.7 billion) to meet its debts in June -- and another 5 billion euros in July.
Greece condemns Macedonian use of force to stop migrants crossing border
Police action on unarmed people ‘unworthy of a European nation’ says Prime Minister Alexis Tsipras
The Wall Street Journal
By NEKTARIA STAMOULI
April 11, 2016 11:08 a.m. ET
ATHENS–Greek Prime Minister Alexis Tsipras Monday accused Macedonia of “shameful” actions, after Macedonian police used tear gas, stun grenades and rubber bullets in attempt to prevent migrants crossing the border between the two countries Sunday.
Macedonia’s police action against “people who did not constitute a threat and were not armed and were attacked with chemicals, [rubber] bullets is unworthy of a European nation,” the Greek Prime Minister said in a press conference with his Portuguese counterpart António Costa, who is currently visiting Athens.
The Wall Street Journal
By NEKTARIA STAMOULI
April 11, 2016 11:08 a.m. ET
ATHENS–Greek Prime Minister Alexis Tsipras Monday accused Macedonia of “shameful” actions, after Macedonian police used tear gas, stun grenades and rubber bullets in attempt to prevent migrants crossing the border between the two countries Sunday.
Macedonia’s police action against “people who did not constitute a threat and were not armed and were attacked with chemicals, [rubber] bullets is unworthy of a European nation,” the Greek Prime Minister said in a press conference with his Portuguese counterpart António Costa, who is currently visiting Athens.
Frustrated refugee in Germany sets fire to his new home, police say
The Washington Post
By Rick Noack April 11 at 2:42 PM
When a house used to shelter refugees was burned down in an arson attack last week, there seemed to be no doubt about the motives behind it. Someone had sprayed a swastika on one of the house's walls, which made investigators believe that they were dealing with right-wing extremism. Local politicians in the city of Bingen were shocked and immediately set up a pro-refugee march to advocate for tolerance.
That was before a Syrian refugee — an inhabitant of the house — reportedly confessed to the crime.
According to police, the 26-year-old had lived in the house for more than half a year and wanted to express his dissatisfaction with the accommodations, which he described as cramped. He has since been jailed, as investigators search for explanations and evidence.
By Rick Noack April 11 at 2:42 PM
When a house used to shelter refugees was burned down in an arson attack last week, there seemed to be no doubt about the motives behind it. Someone had sprayed a swastika on one of the house's walls, which made investigators believe that they were dealing with right-wing extremism. Local politicians in the city of Bingen were shocked and immediately set up a pro-refugee march to advocate for tolerance.
That was before a Syrian refugee — an inhabitant of the house — reportedly confessed to the crime.
According to police, the 26-year-old had lived in the house for more than half a year and wanted to express his dissatisfaction with the accommodations, which he described as cramped. He has since been jailed, as investigators search for explanations and evidence.
Thursday, April 7, 2016
Turkey, Germany herald progress as migrant flow to Greece slows
Wed Apr 6, 2016 9:19pm EDT Related: WORLD, GERMANY, TURKEY, GREECE
ATHENS/DIKILI, TURKEY | BY LEFTERIS PAPADIMAS AND MEHMET EMIN CALISKAN
Reuters
Turkey and Germany said on Wednesday an agreement between Ankara and the EU meant to stem the flow of migrants to the Greek islands was showing signs of success, but many were still trying to cross the sea and the route remained far from sealed off.
The accord, which came into force on Monday, aims to help end the chaotic arrival of migrants and refugees, most fleeing war and poverty in the Middle East, Africa and Asia, after more than a million reached Europe last year.
ATHENS/DIKILI, TURKEY | BY LEFTERIS PAPADIMAS AND MEHMET EMIN CALISKAN
Reuters
Turkey and Germany said on Wednesday an agreement between Ankara and the EU meant to stem the flow of migrants to the Greek islands was showing signs of success, but many were still trying to cross the sea and the route remained far from sealed off.
The accord, which came into force on Monday, aims to help end the chaotic arrival of migrants and refugees, most fleeing war and poverty in the Middle East, Africa and Asia, after more than a million reached Europe last year.
Tuesday, April 5, 2016
Leaked Call Shows Continued Strains Between Greece and Its Creditors
IMF officials’ conversation highlights risk that bailout program could be headed for more drama
The Wall Street Journal
By MARCUS WALKER and NEKTARIA STAMOULI
Updated April 2, 2016 1:38 p.m. ET
ATHENS—A leaked phone call held by International Monetary Fund officials is exposing strains between Greece and its international creditors, highlighting the risk that the country’s bailout program could be headed for more drama this summer.
A transcript of the March 19 phone call, involving IMF officials in Washington and Athens, was published by the Wikileaks website on Saturday and shows how IMF officials are struggling to persuade Germany and other eurozone countries to give Greece the debt relief and easier fiscal targets that the IMF thinks are needed.
The Wall Street Journal
By MARCUS WALKER and NEKTARIA STAMOULI
Updated April 2, 2016 1:38 p.m. ET
ATHENS—A leaked phone call held by International Monetary Fund officials is exposing strains between Greece and its international creditors, highlighting the risk that the country’s bailout program could be headed for more drama this summer.
A transcript of the March 19 phone call, involving IMF officials in Washington and Athens, was published by the Wikileaks website on Saturday and shows how IMF officials are struggling to persuade Germany and other eurozone countries to give Greece the debt relief and easier fiscal targets that the IMF thinks are needed.
Greece's Path to New IMF Loan Grows Even Rockier Following Leak
Andrew Mayeda
April 5, 2016 — 12:00 AM EEST
Bloomberg
Greek Prime Minister Alexis Tsipras may be alienating the International Monetary Fund just when he needs it most.
The IMF has questioned whether the goal of reaching a fiscal surplus of 3.5 percent of gross domestic product, agreed to in last year’s euro-area bailout of Greece, is realistic. In the transcript of a conference call published by WikiLeaks on Saturday, the fund’s European Department director, Poul Thomsen, suggests the IMF would accept a revised goal of 1.5 percent. Thomsen has said euro-area countries would have to offer more debt relief if the target is loosened.
April 5, 2016 — 12:00 AM EEST
Bloomberg
Greek Prime Minister Alexis Tsipras may be alienating the International Monetary Fund just when he needs it most.
The IMF has questioned whether the goal of reaching a fiscal surplus of 3.5 percent of gross domestic product, agreed to in last year’s euro-area bailout of Greece, is realistic. In the transcript of a conference call published by WikiLeaks on Saturday, the fund’s European Department director, Poul Thomsen, suggests the IMF would accept a revised goal of 1.5 percent. Thomsen has said euro-area countries would have to offer more debt relief if the target is loosened.
Monday, April 4, 2016
Time Is Running Out (Again) for Greece
APRIL 4, 2016 10:14 AM EST
By
Editorial Board
Bloomberg
The Greek economy is still in desperate trouble, and yet another crisis is looming. If it happens, this could set back hopes of recovery across much of Europe. The last emergency won't soon be forgotten -- yet nothing is being done to avoid a rerun.
The latest quarrel between Greece's government and the International Monetary Fund, one of its official creditors, only underlines this continuing dysfunction. The impasse has to be broken. For that to happen, the European Union must take the lead, rethink its current position, and grant Greece debt relief.
Greece's gross domestic product is still falling year over year. About a quarter of the population is out of work. Depositors pulled a further 500 million euros ($570 million) out of the country's banks in February, showing that last year's rescue plan has failed to restore confidence.
By
Editorial Board
Bloomberg
The Greek economy is still in desperate trouble, and yet another crisis is looming. If it happens, this could set back hopes of recovery across much of Europe. The last emergency won't soon be forgotten -- yet nothing is being done to avoid a rerun.
The latest quarrel between Greece's government and the International Monetary Fund, one of its official creditors, only underlines this continuing dysfunction. The impasse has to be broken. For that to happen, the European Union must take the lead, rethink its current position, and grant Greece debt relief.
Greece's gross domestic product is still falling year over year. About a quarter of the population is out of work. Depositors pulled a further 500 million euros ($570 million) out of the country's banks in February, showing that last year's rescue plan has failed to restore confidence.
IMF Tries To Put Out Fire From Bombshell Greece Leak, But Doesn’t Apologize
Speculation that the IMF would pressure Greece to negotiate is “nonsense,” says a letter rife with thinly veiled criticism.
04/03/2016 05:33 pm ET | Updated 14 hours ago
The Huffington Post
Daniel Marans
Reporter, Huffington Post
The International Monetary Fund’s managing director told Greek prime minister Alexis Tsipras on Sunday that the IMF remains committed to good faith negotiations, trying to assuage concerns raised by a Saturday leak.
Christine Lagarde dismissed the possibility the IMF would use underhanded tactics to pressure Greece in the letter, which was also posted on the IMF’s website.
The Huffington Post first reported on Saturday that Tsipras had asked Lagarde whether Greece could “trust” the IMF in light of leaked remarks by IMF officials suggesting that a crisis-inducing “event” was necessary to get Greece to comply with IMF austerity requests.
“Of course, any speculation that IMF staff would consider using a credit event as a negotiating tactic is simply nonsense,” Lagarde wrote Sunday.
04/03/2016 05:33 pm ET | Updated 14 hours ago
The Huffington Post
Daniel Marans
Reporter, Huffington Post
The International Monetary Fund’s managing director told Greek prime minister Alexis Tsipras on Sunday that the IMF remains committed to good faith negotiations, trying to assuage concerns raised by a Saturday leak.
Christine Lagarde dismissed the possibility the IMF would use underhanded tactics to pressure Greece in the letter, which was also posted on the IMF’s website.
The Huffington Post first reported on Saturday that Tsipras had asked Lagarde whether Greece could “trust” the IMF in light of leaked remarks by IMF officials suggesting that a crisis-inducing “event” was necessary to get Greece to comply with IMF austerity requests.
“Of course, any speculation that IMF staff would consider using a credit event as a negotiating tactic is simply nonsense,” Lagarde wrote Sunday.
Sunday, April 3, 2016
Greece demands IMF explanation over leaked debt transcript
Sun Apr 3, 2016 8:28am EDT Related: GREECE, IMF
ATHENS | BY LEFTERIS PAPADIMAS
Reuters
Greece demanded an explanation from the International Monetary Fund after an apparent leaked transcript suggested the IMF may threaten to pull out of the country's bailout as a tactic to force European lenders to offer more debt relief.
EU/IMF lenders will resume talks on Greece's fiscal and reform progress in Athens on Monday, aiming to conclude a bailout review that will unlock further loans and pave the way for negotiations on long-desired debt restructuring.
The review has been adjourned twice since January due to a rift among the lenders over the estimated size of Greece's fiscal gap by 2018, as well as disagreements with Athens on pension reforms and the management of bad loans.
ATHENS | BY LEFTERIS PAPADIMAS
Reuters
Greece demanded an explanation from the International Monetary Fund after an apparent leaked transcript suggested the IMF may threaten to pull out of the country's bailout as a tactic to force European lenders to offer more debt relief.
EU/IMF lenders will resume talks on Greece's fiscal and reform progress in Athens on Monday, aiming to conclude a bailout review that will unlock further loans and pave the way for negotiations on long-desired debt restructuring.
The review has been adjourned twice since January due to a rift among the lenders over the estimated size of Greece's fiscal gap by 2018, as well as disagreements with Athens on pension reforms and the management of bad loans.
Greece Grapples With Unrest Ahead of Migrant Transfers to Turkey
First transfers under agreement between EU, Turkey set to take place Monday
The Wall Street Journal
By NEKTARIA STAMOULI in Athens and AYLA ALBAYRAK in Izmir, Turkey
April 3, 2016 11:27 a.m. ET
Greece is due to start sending Syrian refugees and other migrants back across the Aegean Sea to Turkey on Monday, putting into practice a controversial deal between the European Union and Turkey aimed at stemming the migration flow into Europe.
Returns are scheduled to take place from the Greek islands of Lesbos and Chios and will be carried out by EU border agency Frontex. Government and police officials are bracing themselves for resistance from migrants.
The Wall Street Journal
By NEKTARIA STAMOULI in Athens and AYLA ALBAYRAK in Izmir, Turkey
April 3, 2016 11:27 a.m. ET
Greece is due to start sending Syrian refugees and other migrants back across the Aegean Sea to Turkey on Monday, putting into practice a controversial deal between the European Union and Turkey aimed at stemming the migration flow into Europe.
Returns are scheduled to take place from the Greek islands of Lesbos and Chios and will be carried out by EU border agency Frontex. Government and police officials are bracing themselves for resistance from migrants.
Saturday, April 2, 2016
Protests Against Migrants' Presence in Greece and Turkey
By THE ASSOCIATED PRESSAPRIL 2, 2016, 12:30 P.M. E.D.T.
The New York Times
IDOMENI, Greece — 'Anti-migrants protesters staged demonstrations in Turkey and Greece against the plan to send back migrants from Greece to Turkey is set to be implemented starting Monday.
At the same time, migrants stranded at a makeshift camp in this small town on Greece's border with Macedonia staged a protest demanding that the border be opened and that they be allowed to continue their journeys to central and northern Europe.
Several dozen people living in the Idomeni camp staged a protest Saturday morning, blocking a local road for about an hour to demand the evacuation of more than 11,000 stranded migrants to "transit centers" across the Greek mainland.
The New York Times
IDOMENI, Greece — 'Anti-migrants protesters staged demonstrations in Turkey and Greece against the plan to send back migrants from Greece to Turkey is set to be implemented starting Monday.
At the same time, migrants stranded at a makeshift camp in this small town on Greece's border with Macedonia staged a protest demanding that the border be opened and that they be allowed to continue their journeys to central and northern Europe.
Several dozen people living in the Idomeni camp staged a protest Saturday morning, blocking a local road for about an hour to demand the evacuation of more than 11,000 stranded migrants to "transit centers" across the Greek mainland.
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