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.

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.

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.

Συνέντευξη του Ιβάν Σαββίδη στο Πρώτο Θέμα 02-05-2017

   

Ιβάν Σαββίδης: Ο Τσίπρας στη Βουλή μου θύμισε τον Πούτιν
Δημήτρης Μαρκόπουλος02/05/2017

Με  πρωτοφανή σφοδρότητα, ασυνήθιστη για επιχειρηματία, μιλάει σήμερα στο protothema.gr ο κ. Ιβάν Σαββίδης, πρόσωπο των ημερών μετά τη σύγκρουση κυβέρνησης και αντιπολίτευσης για την τροπολογία που αφορούσε στη διαγραφή προστίμου 38 εκατ. ευρώ από λαθρεμπόριο της ΣΕΚΑΠ που σήμερα ανήκει στον ομογενή επιχειρηματία.

Ο κ. Σαββίδης με μια συνέντευξη 8.500 χιλιάδων λέξεων που διήρκεσε τρεισήμισι ώρες στον αρχισυντάκτη του ΠΡΩΤΟΥ ΘΕΜΑΤΟΣ Δημήτρη Μαρκόπουλο:

-Τάσσεται 100%  στο πλευρό του Αλέξη Τσίπρα συμβουλεύοντας τους Έλληνες, «Να κρατηθείτε από τον Τσίπρα. Είναι προϋπόθεση επιτυχίας του μέλλοντος».

-Τον παραλληλίζει με τον  Ρώσο Πρόεδρο Βλαντιμίρ Πούτιν, λέγοντας πως ακούγοντας τον Τσίπρα την Παρασκευή, ήταν έτοιμος να τον χειροκροτήσει και πως αυτός, ένα τέτοιο πρόεδρο θέλει.

- Επιτίθεται ανοικτά κατά του αρχηγού της αξιωματικής αντιπολίτευσης Κυριάκου Μητσοτάκη, υποστηρίζοντας πως με τη στάση του διώχνει τους επενδυτές  και... προβλέπει πως δεν θα γίνει ποτέ πρωθυπουργός!

-Διαχωρίζει τη θέση του από τον πρώην πρωθυπουργό Κώστα Καραμανλή λέγοντας πως τον θεωρεί φίλο του, ενώ  αφήνει πολλές αιχμές κατά του Αντώνη Σαμαρά  για τον τρόπο που του επέβαλλε την αγορά της ΣΕΚΑΠ λέγοντας χαρακτηριστικά  πως μου μεταβίβασε τον δικό του πονοκέφαλο.

-Δηλώνει  πως έτσι ή αλλιώς θα αποκτήσει  σύντομα ένα από τα κεντρικά τηλεοπτικά κανάλια της χώρας και δηλώνει ενδιαφέρον τόσο για τον Πήγασο όσο και για τον ΔΟΛ που βρίσκονται σε διαδικασία εύρεσης στρατηγικού επενδυτή.

-Και τέλος όταν ερωτάται αν η επόμενη συνέντευξη του θα είναι στα Ελληνικά τονίζει πως όταν θα δώσει συνέντευξη στα Ελληνικά τότε αυτό θα σημάνει και την έναρξη της πολιτικής του καριέρας στην Ελλάδα.

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.

Athens and its creditors reached a long-awaited deal this week on a series of bailout reforms Greece needs to unlock loans from its 86-billion euro rescue package, the country's third since in 2010.

Macron and the Revival of Europe

Roger Cohen MAY 7, 2017

The New York Times

It’s not just that Emmanuel Macron won and will become, at the age of 39, France’s youngest president. It’s not merely that he defeated, in Marine Le Pen, the forces of xenophobic nationalism exploited by President Donald Trump. It’s that he won with a bold stand for the much-maligned European Union, and so reaffirmed the European idea and Europe’s place in a world that needs its strength and values.

With Le Pen defeat, Europe’s far-right surge stalls

The Washington Post

By Michael Birnbaum and Anthony Faiola May 7 at 10:08 PM
BRUSSELS — The anti-E.U. French leader Marine Le Pen’s larger-than-expected defeat Sunday in her nation’s presidential election was a crushing reality check for the far-right forces who seek to overthrow Europe: Despite the victories for Brexit and Donald Trump, they are likely to be shut out of power for years.

Data is giving rise to a new economy

Fuel of the future

How is it shaping up?

The Economist

 May 6th 2017
AN OIL refinery is an industrial cathedral, a place of power, drama and dark recesses: ornate cracking towers its gothic pinnacles, flaring gas its stained glass, the stench of hydrocarbons its heady incense. Data centres, in contrast, offer a less obvious spectacle: windowless grey buildings that boast no height or ornament, they seem to stretch to infinity.

Yet the two have much in common. For one thing, both are stuffed with pipes. In refineries these collect petrol, propane and other components of crude oil, which have been separated by heat. In big data centres they transport air to cool tens of thousands of computers which extract value—patterns, predictions and other insights—from raw digital information.

The world’s most valuable resource is no longer oil, but data

The data economy demands a new approach to antitrust rules

Economist

A NEW commodity spawns a lucrative, fast-growing industry, prompting antitrust regulators to step in to restrain those who control its flow. A century ago, the resource in question was oil. Now similar concerns are being raised by the giants that deal in data, the oil of the digital era. These titans—Alphabet (Google’s parent company), Amazon, Apple, Facebook and Microsoft—look unstoppable. They are the five most valuable listed firms in the world. Their profits are surging: they collectively racked up over $25bn in net profit in the first quarter of 2017. Amazon captures half of all dollars spent online in America. Google and Facebook accounted for almost all the revenue growth in digital advertising in America last year.

The extraordinary ways in which China humiliates Muslims

Bans on “abnormal” beards and even the name “Muhammad”

Economist

CHINESE officials describe the far western province of Xinjiang as a “core area” in the vast swathe of territory covered by the country’s grandiose “Belt and Road Initiative” to boost economic ties with Central Asia and regions beyond. They hope that wealth generated by the scheme will help to make Xinjiang more stable—for years it has been plagued by separatist violence which China says is being fed by global jihadism. But the authorities are not waiting. In recent months they have intensified their efforts to stifle the Islamic identity of Xinjiang’s ethnic Uighurs, fearful that any public display of their religious belief could morph into militancy.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.