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Economy

Schaeuble pleasurably chews his bitter-sweet Grexit candy

In fact, German Finance Minister Wolfgang Schaeuble agrees with the International Monetary Fund in one thing: they both doubt about the success of the 3. bailout program. However, as Schaeuble can never agree on the Greek debt relief proposed by the IMF, he chews again on this little bitter-sweet candy …

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EUROSTAT: Greece’s Primary Surplus 0.7% of GDP in 2015

The much anticipated EUROSTAT data on EU’s government deficit and debt has been released. According to the data, Greece’s primary surplus for 2015 was 0.7% of the GDP. The Greek debt is 176.9% of the GDP and not 200% as it was claimed by several analysts last summer. In 2014, …

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UPD ESM acknowledges, it is considering Debt Relief for Greece

The European Stability Mechanism has acknowledged that it is considering ways to grant debt relief to Greece, possibly by fixing the interest level at current low rates or by extending its maturities further. The ESM said in August 2015 that euro area finance ministers stood ready to consider, if necessary, …

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Kissed by Mario Draghi, Greece’s sleeping banks rally & bond yields drop

Kissed by Prince Mario Draghi, Greece’s sleeping economy beauty finally woke up: the Athens Stock Exchange rallies at +4%, Banks cheer with +8.14%-24.31% and Greek bond yield went down 20 bps. Reason for this Friday party was the decision of European Central Bank to include Greece’s EFSEF bonds in ECB’s …

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IMF: Greece’s debt is “highly unsustainable”, debt relief essential

The International Monetary Fund wants Greece’s European partners to grant Athens substantial relief on its debt which it sees remaining “highly unsustainable”, an IMF draft memorandum says. However, German Finance Minister Wolfgang Schaeuble insists that he sees no need for debt restructuring. According to IMF memorandum seen by Reuters: “Despite …

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Tsipras rushes to Paris for unscheduled meeting with Hollande

Prime Minister Alexis Tsipras is rushing to Paris to meet French President Francois Hollande. As the meeting was not planned, Greek media wonder whether the urgent trip to Paris has something to do with the break in Greece-Creditors Review Talks and the Government decision to submit two bills to the …

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ECB’s Coeure: Conclusion of Greece’s Review and a new program with the IMF

Just when I was wondering today, if there is something missing in my life… one of ECB’s executive board member solved my problem: he told me that what is missing in my life is a new program with the IMF! The European Central Bank concurs with the International Monetary Fund …

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Review Talks between Greece and its lenders to resume on April 18th

The long and intensive talks between Greece and its lenders did not end in conclusion of the Greek Program Review. Finance Minister Euclid Tsakalotos told rpeorters at 2 a.m. that “talks will resume on April 18th, after the Spring Meetings between the International Monetary Fund and the World Bank. According …

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Long time not heard! Goldman Sachs analysis: “Come back of Grexit”

Spring is here, summer is close. Time for Grexit. The websites of all Greek media report of a Goldman Sachs analysis that bears the title “Come Back of Grexit”. A scenario that we have missed in the last 10 months. The Goldman Sachs analysis warns “that the Grexit scenario has …

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