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Economy

ECB says unlikely to include Greece in QE in next months

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. Lack of clarity on debt …

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French FinMin Le Maire in Athens with a Debt Proposal the IFM and Berlin tend to reject

French Finance Minister Bruno Le Maire expressed optimism Greece and creditors are not far away from the agreement. “The next two days will pave the way for an agreement at the Eurogroup” on June 15, Le Maire told reporters after a meeting with his Greek counterpart Euclid Tsakalotos in Athens …

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IMF approves in principle participation in Greek program without financing

The International Monetary Fund approves in principle participation in Greek program without financing, the Fund’s spokesman Gerry Rice said on Thursday. According to the Greek correspondents in Washington, “the IMF present approval of Greek program without financing until debt easing has been granted as a way of putting pressure on …

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Gazprom ready to consider TAP as alternative for supplies to Europe

Russia’s Gazprom is ready to consider the Trans-Adriatic Pipeline (TAP), designed to transport natural gas from Azerbaijan to the EU countries, as an option for gas supplies to Europe, Kommersant newspaper reported referring to its sources. Gazprom is now leaning towards the Poseidon gas pipeline as the main option for …

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Dijsselbloem’s “alcohol and women” subject of university entrance exams

Tensions within the Eurogroup and particularly Jeroen Dijsselbloem’s derogatory comments regarding the European South was one of the subjects in exams for university entrance. In Valencia, Spain, aspiring university students were asked to develop their thoughts on the most famous statement of the head of Eurogroup: the countries of the …

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Greek government sees solution in EU Summit than in next Eurogroup

From Eurogroup to Eurogroup… key is a political solution at the next European Union Summit…. Greek government has given up hope for a solution to the Greek problem at the Eurogroup meeting on June 15. The EU Summit is scheduled for June 22-23 2017. “A solution that leads the country …

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Arab countries cut ties to Qatar for ‘supporting terrorism’, send oil prices higher

Saudi Arabia, Egypt, Bahrain, the United Arab Emirates and Yemen have cut diplomatic ties with Qatar, accusing it of destabilising the region. They say Qatar backs militant groups including so-called Islamic State (IS) and al-Qaeda, which Qatar has denied. The dispute with Qatar, the world’s top seller of liquefied natural …

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IMD Competitiveness report 2017: Greece ranks 57th among 63 countries

How can Greece be competitive when the taxation system changes once a year, liquidity is a rarity, capital controls tie the hands of entrepreneurs and investors and the tedious negotiations with international creditors undermines the atmosphere in the Greek economy? The answer is simple: it can’t. In the Swiss-based International …

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Ex PM Papandreou says his gov’t explored Grexit option and refusal of first bailout

Former prime minister George Papandreou said that his government explored all possibilities including refusal of first bailout as well as exit from the eurozone before deciding to bring the International Monetary Fund in the country in May 2010. Speaking on Real FM radio on Thursday, the former leader of PASOK …

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Commission’s vision for Eurozone integration: a Finance Minister, a Fund and “eurobonds”

The European Commission presented on Wednesday (31 May) its proposal to “move forward” on eurozone integration with a treasury, a finance minister and several instruments to make the financial sector less vulnerable to crises. incl the issuing  of “eurobonds” that are proposed as “safe asset”. The Commission document calls on …

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