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.
Tuesday, May 2, 2017
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.
Tuesday, April 25, 2017
Turkey strikes Kurds in Iraq, Syria, drawing condemnation
The Washington Post
By Suzan Fraser | AP April 25 at 2:26 PM
ANKARA, Turkey — Turkish warplanes struck suspected Kurdish rebel positions in Iraq and Syria on Tuesday, drawing condemnation from Baghdad and criticism from the U.S.-led coalition fighting the Islamic State group, which is allied with Kurdish factions in both countries.
Syrian activists said the attack killed at least 18 members of the Syrian Kurdish militia known as the People’s Protection Units, or YPG, which is a close U.S. ally against IS but is seen by Ankara as a terrorist group because of its ties to Turkey’s Kurdish rebels.
By Suzan Fraser | AP April 25 at 2:26 PM
ANKARA, Turkey — Turkish warplanes struck suspected Kurdish rebel positions in Iraq and Syria on Tuesday, drawing condemnation from Baghdad and criticism from the U.S.-led coalition fighting the Islamic State group, which is allied with Kurdish factions in both countries.
Syrian activists said the attack killed at least 18 members of the Syrian Kurdish militia known as the People’s Protection Units, or YPG, which is a close U.S. ally against IS but is seen by Ankara as a terrorist group because of its ties to Turkey’s Kurdish rebels.
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.
Monday, April 24, 2017
Brexit Bulletin: What Macron Means for May
Macron has pledged to be tough on Britain.
by Simon Kennedy
24 Απριλίου 2017, 9:30 π.μ. EEST
Bloomberg
Theresa May’s first electoral test came on Sunday in France.
Even as she heads for a general election at home, the U.K. prime minister will have been looking across the English Channel at the weekend in the knowledge that whoever wins the French presidency will have a key influence on Brexit negotiations.
Emmanuel Macron, the favorite to win next month’s run-off after the first round of votes, pledged on the campaign trail to be “pretty tough” on the British “because we have to preserve the rest of the European Union.” He also promised to coax “banks, talent, researchers, academics” to relocate to France.
Friday, April 21, 2017
Greece Hits a Bailout Target. The IMF Is Not Convinced
by Sotiris Nikas
20 Απριλίου 2017, 10:19 π.μ. EEST
Bloomberg
Greece achieved a 2016 primary surplus almost seven times higher than its bailout target, but the International Monetary Fund is skeptical the country can sustain that performance.
The Hellenic Statistical Authority is set on Friday to unveil data on last year’s primary surplus, which Eurostat is expected to validate on Monday. The surplus will be close to 4 percent of gross domestic product, according to a finance ministry official who asked not to be identified in line with policy. The bailout target was for a primary surplus of 0.5 percent of GDP.
20 Απριλίου 2017, 10:19 π.μ. EEST
Bloomberg
Greece achieved a 2016 primary surplus almost seven times higher than its bailout target, but the International Monetary Fund is skeptical the country can sustain that performance.
The Hellenic Statistical Authority is set on Friday to unveil data on last year’s primary surplus, which Eurostat is expected to validate on Monday. The surplus will be close to 4 percent of gross domestic product, according to a finance ministry official who asked not to be identified in line with policy. The bailout target was for a primary surplus of 0.5 percent of GDP.
Greece attains primary surplus of 3.9 pct of GDP in 2016- stats service
Fri Apr 21, 2017 | 5:24am EDT
Reuters
Greece improved its public finances last year, achieving a general government surplus of 0.7 percent of gross domestic product compared to a 5.9 percent of GDP deficit in 2015, the country's statistics agency ELSTAT said on Friday.
Reuters
Greece improved its public finances last year, achieving a general government surplus of 0.7 percent of gross domestic product compared to a 5.9 percent of GDP deficit in 2015, the country's statistics agency ELSTAT said on Friday.
Venezuela opposition plans silent procession, road sit-ins
The Washington Post
By Joshua Goodman | AP April 21 at 12:04 AM
CARACAS, Venezuela — Venezuela’s energized opposition is planning sit-ins on roads, silent marches in white to commemorate the dead and other nontraditional protests as it tries to build on the momentum of recent street demonstrations against President Nicolas Maduro’s socialist government.
Tens of thousands of protesters took to the streets of the South American country again Thursday to demand elections and denounce what they consider an essentially dictatorial government. They were met by curtains of tear gas and rubber bullets as they tried to march to downtown Caracas.
Thursday, April 20, 2017
At Least 3 Die in Venezuela in Violent Protests Across the Country
By NICHOLAS CASEY and PATRICIA TORRESAPRIL 19, 2017
The New York Times
BOGOTÁ, Colombia — Protesters demanding elections and a return to democratic rule jammed the streets of Caracas and other Venezuelan cities on Wednesday. National Guard troops and government-aligned militias beat crowds back with tear gas, rubber bullets and other weapons, and at least three people were killed, according to human rights groups and news reports.
Monday, April 10, 2017
EU should consider billion-euro investment boost for Greece - Austrian finmin
Mon Apr 10, 2017 | 3:46am EDT
Reuters
The European Union should consider a one-billion-euro ($1.1-billion) special investment programme to spur growth in debt-ridden Greece, Austria's finance minister told daily Der Standard in an interview published on Monday.
Hans Joerg Schelling said Greece would only be able to get back on track and regain access to capital markets if it was able to generate sustainable growth in the mid- and long-term. It was important to help the country participate in a pick-up in growth in the euro zone, he added.
Reuters
The European Union should consider a one-billion-euro ($1.1-billion) special investment programme to spur growth in debt-ridden Greece, Austria's finance minister told daily Der Standard in an interview published on Monday.
Hans Joerg Schelling said Greece would only be able to get back on track and regain access to capital markets if it was able to generate sustainable growth in the mid- and long-term. It was important to help the country participate in a pick-up in growth in the euro zone, he added.
Greek PM says debt relief is a condition for more austerity
Sun Apr 9, 2017 | 6:53am EDT
Reuters
By Renee Maltezou and George Georgiopoulos | ATHENS
Greece will implement additional austerity measures agreed with its official creditors on condition of further debt relief that will enable the country to be included in the ECB's bond buying scheme, Prime Minister Alexis Tsipras said on Sunday.
Athens struck a deal with its international creditors at Friday's meeting of euro zone finance ministers in Malta on key elements of a reform package that could unlock bailout funds for the country to help it repay maturing debt in July.
"Medium-term debt relief measures, able to include us in (the ECB's) quantitative easing, and a fiscal path that will not be unattainable, is the condition for us to implement the measures we decided," Tsipras told his leftist Syriza party's central committee.
Reuters
By Renee Maltezou and George Georgiopoulos | ATHENS
Greece will implement additional austerity measures agreed with its official creditors on condition of further debt relief that will enable the country to be included in the ECB's bond buying scheme, Prime Minister Alexis Tsipras said on Sunday.
Athens struck a deal with its international creditors at Friday's meeting of euro zone finance ministers in Malta on key elements of a reform package that could unlock bailout funds for the country to help it repay maturing debt in July.
"Medium-term debt relief measures, able to include us in (the ECB's) quantitative easing, and a fiscal path that will not be unattainable, is the condition for us to implement the measures we decided," Tsipras told his leftist Syriza party's central committee.
Thursday, April 6, 2017
EU, Greece seek bailout deal by Friday
Wed Apr 5, 2017 | 8:57am EDT
Reuters
By Renee Maltezou and Jan Strupczewski | ATHENS/BRUSSELS
Greece and its international lenders remained at odds in talks to release fresh bailout loans to Athens on Wednesday as Prime Minister Alexis Tsipras said a deal was needed this week and accused creditors of 'playing games' and causing delays.
Talks between Greece, the European Union and International Monetary Fund have stuttered for months due to differences over Greece's fiscal progress, labor and energy market reforms, rekindling worries of a new crisis in Europe.
Reuters
By Renee Maltezou and Jan Strupczewski | ATHENS/BRUSSELS
Greece and its international lenders remained at odds in talks to release fresh bailout loans to Athens on Wednesday as Prime Minister Alexis Tsipras said a deal was needed this week and accused creditors of 'playing games' and causing delays.
Talks between Greece, the European Union and International Monetary Fund have stuttered for months due to differences over Greece's fiscal progress, labor and energy market reforms, rekindling worries of a new crisis in Europe.
Monday, April 3, 2017
Abu Dhabi’s Plowing Ahead With These 10 Mega Projects During an Oil Slump
Abu Dhabi is building $37 billion worth of projects, including a Louvre and a new airport terminal, despite the oil slump.
Bloomberg
by Zainab Fattah
2 Απριλίου 2017, 9:12 π.μ. EEST
Abu Dhabi, which sits on about 6 percent of the world’s oil reserves, has pushed ahead with a construction program that began before crude prices slumped in 2014. From Louvre Abu Dhabi, a new airport terminal and a nuclear power plant, here are the 10 biggest projects underway in the sheikdom. With a combined value of 134 billion dirhams ($37 billion), they're expected to be completed by 2020, according to a list provided by the government this month in response to questions from Bloomberg.
At least 10 dead as blast hits St. Petersburg metro station in Russia, reports say
By David Filipov April 3 at 8:23 AM
The Washinhton Post
MOSCOW — A large explosion tore apart a train at a central St. Petersburg metro station Monday, killing at least 10 people, Russia’s state news agency reported.
The Tass news agency said “preliminary information” placed the death toll as at least 10. The report could not be independently verified, but images on social media indicated a significant number of injuries.
Thursday, March 30, 2017
In historic break, Britain plunges into Brexit with hard negotiations still to come
The Washington Post
By Griff Witte and Michael Birnbaum March 29 at 4:17 PM
LONDON — The end came not with a bang but a letter.
Over six crisp and unsentimental pages, Britain said goodbye to the European Union on Wednesday, spelling out its hopes, wishes, threats and demands for divorce talks that will strain alliances, roil economies and consume attention across the continent over the next two years.
Coming a little over nine months after British voters stunned the world by choosing to withdraw from the E.U., the hand-delivery of the letter in Brussels officially triggered Article 50, the bloc’s never-before-used escape hatch.
Wednesday, March 29, 2017
'Grexit' is back
Business Insider UK
Jim Edwards, Business Insider UK
Mar. 23, 2017, 12:16 PM
Greece's banks lost about €4 billion in bank deposits since the turn of the year as Greeks fear a return of capital controls that ban them from making cash withdrawals over set limits. Separately, the country looks as if it is tipping back into recession — GDP shrank by 1.2% in Q4 2016.
Does this story sound familiar?
It should. A collapsing economy followed by a run on the banks were the signal events of the Greek debt crisis that began in 2009 and never really ended.
So now people are asking — again — whether Greece might be forced out of the eurozone:
Jim Edwards, Business Insider UK
Mar. 23, 2017, 12:16 PM
Greece's banks lost about €4 billion in bank deposits since the turn of the year as Greeks fear a return of capital controls that ban them from making cash withdrawals over set limits. Separately, the country looks as if it is tipping back into recession — GDP shrank by 1.2% in Q4 2016.
Does this story sound familiar?
It should. A collapsing economy followed by a run on the banks were the signal events of the Greek debt crisis that began in 2009 and never really ended.
So now people are asking — again — whether Greece might be forced out of the eurozone:
UPDATE 1-Lenders do not confirm preliminary deal on Greek bailout
Reuters
Wed Mar 29, 2017 | 7:03am EDT
Greece's lenders on Wednesday could not confirm what sources said was a preliminary deal on open issues of the country's bailout and said possible debt relief measures will be decided only at the end of the financial aid programme, contrary to Athens' will.
Negotiations between Greece, the European Union and the International Monetary Fund - which has yet to decide if it will participate in Greece's current bailout - have dragged on for months, rekindling fears of a new financial crisis in the euro zone.
British PM May to fire starting gun on Brexit
Wed Mar 29, 2017 | 7:15am EDT
Reuters
By Guy Faulconbridge and Elizabeth Piper | LONDON
Prime Minister Theresa May will file formal Brexit divorce papers on Wednesday, pitching the United Kingdom into the unknown and triggering years of uncertain negotiations that will test the endurance of the European Union.
Nine months after Britons voted to leave, May will notify EU Council President Donald Tusk in a letter that the UK really is quitting the bloc it joined in 1973.
The prime minister, an initial opponent of Brexit who won the top job in the political turmoil that followed the referendum vote, will then have two years to settle the terms of the divorce before it comes into effect in late March 2019.
Reuters
By Guy Faulconbridge and Elizabeth Piper | LONDON
Prime Minister Theresa May will file formal Brexit divorce papers on Wednesday, pitching the United Kingdom into the unknown and triggering years of uncertain negotiations that will test the endurance of the European Union.
Nine months after Britons voted to leave, May will notify EU Council President Donald Tusk in a letter that the UK really is quitting the bloc it joined in 1973.
The prime minister, an initial opponent of Brexit who won the top job in the political turmoil that followed the referendum vote, will then have two years to settle the terms of the divorce before it comes into effect in late March 2019.
Friday, March 24, 2017
London Attack Echoes, Faintly, in a Europe Anxious but Inured
By STEVEN ERLANGER and ALISSA J. RUBINMARCH 23, 2017
The New York Times
LONDON — The terrorist attack in London, with its combination of random deaths and the strong symbolism of Parliament shut down, comes in an important election year in critical European countries, as well as at a moment of high anxiety — about the rise of populism, migration and the integration of Muslims.
With France, Germany and possibly Italy going to the polls, analysts have long wondered whether an act of terrorism could jolt electoral dynamics and boost the broader “Europe in crisis” narrative that has elevated far-right parties across the Continent.
“This will have an echo in France and in Germany,” said Mark Leonard, the director of the European Council on Foreign Relations. “It becomes part of a pattern. It’s another link in the chain.”
The New York Times
LONDON — The terrorist attack in London, with its combination of random deaths and the strong symbolism of Parliament shut down, comes in an important election year in critical European countries, as well as at a moment of high anxiety — about the rise of populism, migration and the integration of Muslims.
With France, Germany and possibly Italy going to the polls, analysts have long wondered whether an act of terrorism could jolt electoral dynamics and boost the broader “Europe in crisis” narrative that has elevated far-right parties across the Continent.
“This will have an echo in France and in Germany,” said Mark Leonard, the director of the European Council on Foreign Relations. “It becomes part of a pattern. It’s another link in the chain.”
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