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Athens weighs limited number of options as pressure by creditors grows

By   /  31/01/2017  /  Finance, GR Finance, GR Politics, Greece, Politics  /  Comments Off on Athens weighs limited number of options as pressure by creditors grows

  The Greek government appears to have a limited number of options available following the 26 January Eurogroup meeting and the set of terms reportedly put forth by the International Monetary Fund (IMF) as conditions for its participation in the Greek program. Athens appears to be far off fulfilling its bailout program obligations. Bloomberg reported […]

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IMF outlines terms for Greek bailout participation

By   /  29/01/2017  /  Finance, GR Finance, GR Politics, Greece, Politics  /  Comments Off on IMF outlines terms for Greek bailout participation

A confidential report by the International Monetary Fund reviewing the Greek program was leaked to the press over the weekend. The thirty-eight page document – dated 24 January – describes the terms under which the Washington-based Fund could continue to participate in the Greek bailout program. As expected, pressure is maintained on Greece to legislate […]

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Athens sends defiant message to creditors: “No more austerity measures”

By   /  25/01/2017  /  Finance, GR Finance, GR Politics, Greece, Politics  /  Comments Off on Athens sends defiant message to creditors: “No more austerity measures”

Greek Prime Minister Alexis Tsipras sounded a warning to the country’s creditors ahead of a Eurogroup meeting this week that his government will not legislate any more austerity measures. The PM also ruled out the prospect of an early election being called and yet again called the International Monetary Fund to “assume responsibility for its […]

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Athens takes first step towards conclusion of review

By   /  24/01/2017  /  Finance, GR Finance, GR Politics, Greece, Politics  /  Comments Off on Athens takes first step towards conclusion of review

Athens looks resigned to offering concessions to its creditors in order to wrap up the stalled bailout review. Finance Minister Euclid Tsakalotos is scheduled to take part in a crucial Eurogroup meeting in Brussels on Thursday which could pave the way for the troika to return to Athens next week. A spokesman for the European […]

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Institutions e-mail list of concerns to Athens over social benefits

By   /  23/12/2016  /  Finance, GR Finance, GR Politics, GR Social, Greece, Politics, Social  /  Comments Off on Institutions e-mail list of concerns to Athens over social benefits

An e-mail was delivered to Athens on Thursday with which its creditor institutions request clarifications regarding the Greek government’s recent controversial decision to hand out social benefits. Local media reported that European Stability Mechanism sources expect an answer from Greek authorities before Christmas. Greek government sources said Athens would provide assurances that the 617 million […]

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EWG seeks reassurances about Greek social benefits

By   /  21/12/2016  /  Finance, GR Finance, GR Politics, GR Social, Greece, Politics, Social  /  Comments Off on EWG seeks reassurances about Greek social benefits

Following a meeting on Tuesday, the Euro Working Group has reportedly asked the Greek government to put in writing that the social benefits recently decided by Prime Minister Alexis Tsipras – dubbed a “13th pension” – will only apply this year. According to local reports, EWG chief Thomas Wieser informed deputy Finance Minister Giorgos Chouliarakis […]

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Greece between Brussels and Berlin

By   /  18/12/2016  /  Finance, GR Finance, GR Politics, GR Social, Greece, Politics, Social  /  Comments Off on Greece between Brussels and Berlin

Brussels and Berlin found themselves at the centre of the Greek political scene because of the Greek Prime Minister Alexis Tsipras’ visits to both capitals. On December 14th there was Alexis Tsipras’ meeting with Cypriot President Nico Anastasiades on Cyprus, and on Wednesday, December 15th he participated in the EU Summit, where he had the […]

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ESM temporarily suspends short term debt relief measures for Greece

By   /  14/12/2016  /  Finance, GR Finance, GR Politics, Greece, Politics  /  Comments Off on ESM temporarily suspends short term debt relief measures for Greece

The European Stability Mechanism decided on Wednesday to put short term Greek debt relief measures temporarily on hold following a decision by Athens last week to announce one off social benefits for 1.6 million pensioners. Earlier, Berlin had asked the institutions involved in Greece’s bailout program to assess whether Greek reforms are compatible with its […]

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ESM proposes short term debt relief for Greece

By   /  01/12/2016  /  Finance, GR Finance, GR Politics, Greece, Politics  /  Comments Off on ESM proposes short term debt relief for Greece

The European Stability Mechanism (ESM) proposes the reduction of Greek public debt by 21.8% as a percentage of GDP in 2060, which will be presented to the December 5th Eurogroup, says a report in the Wall Street Journal. The report cites a six-page document of the ESM, dated November 25. According to the publication, the […]

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Greece can return to markets in 2017, says ESM’s Regling

By   /  02/11/2016  /  Finance, GR Finance, GR Politics, Greece, Politics  /  Comments Off on Greece can return to markets in 2017, says ESM’s Regling

Greece could start returning to the financial markets next year if it continues with economic reforms, said the head of the European Stability Mechanism (ESM) Klaus Regling on Tuesday. “We have assisted five countries during the crisis: Greece, Ireland, Portugal, Spain and Cyprus. Four of them are now success stories”, he said, speaking at a […]

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