By JAMES KANTER and NIKI KITSANTONISJUNE 15, 2017
LUXEMBOURG — European Union officials agreed on Thursday to unlock loans of 8.5 billion euros for Greece, to ensure it meets huge payments on its debt next month.
The deal, reached by eurozone finance ministers, will ensure that Greece can pay about €7 billion, or $7.9 billion, next month on its towering pile of loans. If Greece defaulted on its debt, it could set off an economic crisis, reviving fears about the future of the eurozone.
The agreement included formal participation by the International Monetary Fund, said Jeroen Dijsselbloem, the president of the Eurogroup of finance minsters.
Friday, June 16, 2017
Thursday, June 15, 2017
Greece Declares Emergency After Earthquake Hits Lesbos
By NIKI KITSANTONIS
JUNE 13, 2017
The New York Times
ATHENS — The Greek government declared a state of emergency on the island of Lesbos on Tuesday, the day after a strong earthquake struck the island, killing a woman, injuring several people and leaving hundreds of residents homeless.
JUNE 13, 2017
The New York Times
ATHENS — The Greek government declared a state of emergency on the island of Lesbos on Tuesday, the day after a strong earthquake struck the island, killing a woman, injuring several people and leaving hundreds of residents homeless.
Israel’s prime minister in Greece to tout energy projects
By Costas Kantouris | AP June 15 at 8:40 AM
THESSALONIKI, Greece — Under heavy security, Israeli Prime Minister Benjamin Netanyahu visited northern Greece on Thursday to discuss plans to become a key supplier of European energy through an ambitious Mediterranean undersea natural gas pipeline project.
Netanyahu met with Greek Prime Minister Alexis Tsipras and Cypriot President Nicos Anastasiades in Thessaloniki, Greece’s second-largest city.
More than 3,500 police officers were deployed around the city, which historically had a large Jewish community that was almost wiped out during the Nazi occupation in World War II.
THESSALONIKI, Greece — Under heavy security, Israeli Prime Minister Benjamin Netanyahu visited northern Greece on Thursday to discuss plans to become a key supplier of European energy through an ambitious Mediterranean undersea natural gas pipeline project.
Netanyahu met with Greek Prime Minister Alexis Tsipras and Cypriot President Nicos Anastasiades in Thessaloniki, Greece’s second-largest city.
More than 3,500 police officers were deployed around the city, which historically had a large Jewish community that was almost wiped out during the Nazi occupation in World War II.
Greece to Get Some Cash-And Some Idea of Future Debt Relief
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.
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.
Tuesday, June 13, 2017
Britain’s Theresa May comes under pressure to soften her stance on Brexit
The Washington Post
By Griff Witte and Karla Adam June 12 at 3:30 PM
LONDON — When Britain voted last week in an election that ended with Prime Minister Theresa May hanging onto her job by a thread, Brexit wasn’t on the ballot.
Even though the country had split nearly down the middle in last year’s referendum – 52 percent to 48 – and continues to be closely divided, none of the major parties ran on a platform of reversing the public’s decision to leave the European Union.
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.
Friday, June 9, 2017
Comey: White House lied about me, FBI
The Washington Post
By Devlin Barrett, Ellen Nakashima and Ed O'Keefe June 8 at 8:38 PM
Former FBI director James B. Comey on Thursday used a dramatic appearance before a national audience to sharply criticize the character of the president, accusing Trump of firing him over the Russia investigation and then misleading the public about the reasons for the dismissal.
Trump and his team, Comey said, told “lies, plain and simple,” about him and the FBI in an effort to cover up the real reason for his sudden sacking last month. Comey said that after one particularly odd private meeting with the president, he feared Trump “might lie” about the conversation, prompting him to begin taking careful notes after each encounter.
Theresa May Loses Overall Majority in U.K. Parliament
By STEVEN ERLANGER and STEPHEN CASTLE
JUNE 8, 2017
LONDON — Prime Minister Theresa May of Britain suffered a major setback in a tumultuous election on Thursday, losing her overall majority in Parliament and throwing her government into uncertainty less than two weeks before it is scheduled to begin negotiations over withdrawing from the European Union.
JUNE 8, 2017
LONDON — Prime Minister Theresa May of Britain suffered a major setback in a tumultuous election on Thursday, losing her overall majority in Parliament and throwing her government into uncertainty less than two weeks before it is scheduled to begin negotiations over withdrawing from the European Union.
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
Trump offers to help resolve Gulf crisis, UAE tightens squeeze on Qatar
Wed Jun 7, 2017 | 8:40pm EDT
Reuters
By William Maclean and Tom Finn | DUBAI/DOHA
U.S. President Donald Trump offered on Wednesday to help resolve a worsening diplomatic crisis between Qatar and other Arab powers as the United Arab Emirates invoked the possibility of an economic embargo on Doha over its alleged support of terrorism.
In his second intervention in the row in as many days, Trump urged action against terrorism in a call with Qatari Emir Sheikh Tamim bin Hamad al-Thani, a White House statement said.
Reuters
By William Maclean and Tom Finn | DUBAI/DOHA
U.S. President Donald Trump offered on Wednesday to help resolve a worsening diplomatic crisis between Qatar and other Arab powers as the United Arab Emirates invoked the possibility of an economic embargo on Doha over its alleged support of terrorism.
In his second intervention in the row in as many days, Trump urged action against terrorism in a call with Qatari Emir Sheikh Tamim bin Hamad al-Thani, a White House statement said.
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.
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.
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.
The Latest: Hamas ‘shocked’ by Saudi comments on Qatar
The Washington Post
By Associated Press June 7 at 1:00 AM
DUBAI, United Arab Emirates — The Latest on the Gulf crisis after Saudi Arabia and other nations cut ties to Qatar, accusing it of supporting terrorism (all times local):
8:30 a.m.
Gaza’s ruling Hamas says it is shocked by Saudi Arabia’s call on Qatar to stop supporting the Islamic militant group.
Saudi Arabia, along with the United Arab Emirates, Bahrain and Egypt, have cut ties with Qatar and moved to isolate the Gulf nation, accusing it of harboring extremists. Qatar has denied the allegations.
Saudi Foreign Minister Adel al-Jubeir told reporters in Paris on Tuesday that Qatar must sever ties with Hamas and its historic parent, the pan-Arab Muslim Brotherhood.
Hamas said in a statement early Wednesday that al-Jubeir’s remarks “constitute a shock for our Palestinian people and the Arab and Islamic nations.”
Hamas alleged that Israel “exploits these statements to carry out more violations against the Palestinian people.”
Qatar has hosted Hamas leaders and has financed major projects in Gaza.
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.
Cementing a long-term deal with Greece
Souda Bay gives the U.S. a singulary valuable port in the Eastern Mediterranean
The Washington Times
By John Sitilides - - Monday, June 5, 2017
ANALYSIS/OPINION:
Since World War II, the Mediterranean Sea has been the home to the U.S. Sixth Fleet, whose mission is to conduct “the full range of Maritime Operations and Theater Security Cooperation missions to advance security and stability in Europe and Africa.” It was an essentially uncontested naval force through the mid-2000s, operating with near impunity from the Strait of Gibraltar to Israel, from the Black Sea to the Suez Canal.
Today, Russia and China are operating within the Eastern Mediterranean region with growing ambition and determination to challenge America’s historic naval posture and extensive power projection reach.
The Washington Times
By John Sitilides - - Monday, June 5, 2017
ANALYSIS/OPINION:
Since World War II, the Mediterranean Sea has been the home to the U.S. Sixth Fleet, whose mission is to conduct “the full range of Maritime Operations and Theater Security Cooperation missions to advance security and stability in Europe and Africa.” It was an essentially uncontested naval force through the mid-2000s, operating with near impunity from the Strait of Gibraltar to Israel, from the Black Sea to the Suez Canal.
Today, Russia and China are operating within the Eastern Mediterranean region with growing ambition and determination to challenge America’s historic naval posture and extensive power projection reach.
Friday, June 2, 2017
Τα προβλήματα με την ελάφρυνση του χρέους
Μιράντα Ξαφά
Huffington Post
Μετά την κατ' αρχήν αποδοχή από την κυβέρνηση των μέτρων που ζητούν οι δανειστές για να κλείσει η δεύτερη αξιολόγηση, μόλις ψηφιστούν τα μέτρα προβλέπεται να ανοίξει η συζήτηση για το χρέος. Παρά το γεγονός ότι το θέμα αυτό συζητείται παρασκηνιακά μεταξύ Ευρωπαίων και ΔΝΤ εδώ και μήνες, λύση που να είναι πολιτικά αποδεκτή από όλους τους εμπλεκόμενους στη διαπραγμάτευση δεν θα είναι εύκολο να βρεθεί. Μία πρόσφατη μελέτη τριών επιφανών οικονομολόγων εξηγεί γιατί.
Huffington Post
Μετά την κατ' αρχήν αποδοχή από την κυβέρνηση των μέτρων που ζητούν οι δανειστές για να κλείσει η δεύτερη αξιολόγηση, μόλις ψηφιστούν τα μέτρα προβλέπεται να ανοίξει η συζήτηση για το χρέος. Παρά το γεγονός ότι το θέμα αυτό συζητείται παρασκηνιακά μεταξύ Ευρωπαίων και ΔΝΤ εδώ και μήνες, λύση που να είναι πολιτικά αποδεκτή από όλους τους εμπλεκόμενους στη διαπραγμάτευση δεν θα είναι εύκολο να βρεθεί. Μία πρόσφατη μελέτη τριών επιφανών οικονομολόγων εξηγεί γιατί.
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.
Ending Greece’s Perpetual Debt Crisis
By THE EDITORIAL BOARD
JUNE 1, 2017
The New York Times
For nearly a decade, Greece has struggled under suffocating debt, which now totals more than 300 billion euros ($338 billion), or nearly double its annual economic output. Waves of austerity measures to satisfy creditors have inflicted great suffering: More than a quarter of Greeks are unemployed, and vital services, like health care and transportation, are running as bare-bones operations. The economy is in recession, and there is virtually no way Greece can dig itself out of such a deep hole.
JUNE 1, 2017
The New York Times
For nearly a decade, Greece has struggled under suffocating debt, which now totals more than 300 billion euros ($338 billion), or nearly double its annual economic output. Waves of austerity measures to satisfy creditors have inflicted great suffering: More than a quarter of Greeks are unemployed, and vital services, like health care and transportation, are running as bare-bones operations. The economy is in recession, and there is virtually no way Greece can dig itself out of such a deep hole.
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