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20
Feb

Greece’s mission impossible: Bailout demands Primary Surplus that not even Germany can achieve

Posted by in Economy

From 1974 to 2013, only three countries ever ran primary surpluses of 5% or more for a decade. The countries of the euro area reached an aggregate primary surplus of 3.6 percent only once, in 2000. However, the Greek bailout program not only demands a primary surplus of,4.5%  throughout the […]

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20
Feb

Germany describes extension request “Trojan Horse”, Greece returns …the compliment

Posted by in Economy

In a document submitted to the EuroWorkingGroup with the German positions, Berlin describes the Greek loan agreement extension request as “Trojan Horse” – to start with. And then, it has the boldness to dictate three main commandments to Greece, some of them copy-pasted from  Dijsselbloem’s draft at the Eurogroup meeting […]

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19
Feb

Time for Schaeuble to go home: German op-eds speak of “lost contact to reality”

Posted by in Uncategorized

The decision of German Finance Minister Wolfgang Schaeuble to reject right away the Greek request for extension of the loan agreement has stunned every one: officials in EU and the IMF, journalists, and even Schaeuble German coalition partners. In a psychologically, economically and politically hard to explain reaction, FinMin Schaeuble […]

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19
Feb

Greek request: Varoufakis’ letter to Dijsselbloem (text)

Posted by in Economy

Below is the text of the Greek request, Finance Minister Yanis Varoufakis sent to Eurogroup head Jeroen Dijsselbloem. “Athens, February 18, 2015 Dear President of the Eurogroup, Over the last five years, the people of Greece have exerted remarkable efforts in economic adjustment. The new government is committed to a […]

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19
Feb

Schaeuble rejects Greek request right away; GER FinMin press release

Posted by in Economy

Some people have the naturally born talent to make friends. German Finance Minister Wolfgang Schaeuble is certainly not one of them. His reaction to the Greek request for loan agreement extension was quick, official and “brutal” as some people described it. Schaeuble ordered his spokesman Martin Jeager to make a […]

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19
Feb

Greece’s extension request: Bridge-Agreement, financial stability & measures against tax evasion & corruption…

Posted by in Economy

Below are some details from the official request Greece sent to Eurogroup Thursday morning asking for a 6-month extension of the loan agreement signed between Greece and the European Financial Stability Fund (EFSF) from December 2012. The Greek side wants also a Bridge-Agreement of 6-months, measures to tackle the humanitarian […]

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19
Feb
http://www.keeptalkinggreece.com/2015/02/19/ecb-dismisses-faz-report-on-capital-controls-in-greece/ tagged: , , , , , ,

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ECB dismisses FAZ report on “capital controls in Greece”

Posted by in Economy

“The ECB Governing Council and the ECB banking supervisor would be more comfortable if there were capital controls to prevent the banks bleeding (money),” German arch-conservative daily Frankfurter Allgemeine Zeitung claimed Thursday citing an source from the European Central Bank. ECB’s concern was allegedly based on the ground of a […]

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19
Feb

UPD: Request for “6-month extension of loan agreement between Greece & EFSF”

Posted by in Economy

Greece sent its request about an extension of the loan agreement on Tuesday morning. Speaking to Skai TV, Labor Minister Panos Skourletis said that “the request refers to extension of the loan agreement” and not of the “current bailout program.” According to Greek media, the Greek request refers to a […]

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18
Feb

ECB extends liquidity for Greek banks, increases funds with extra €3.3bn

Posted by in Economy

Te European Central Bank has reportedly agreed  to give a two-week extension on Emergency Liquidity Assistance for Greek banks and to raise the emergency funding available to Greek banks to €68.3bn.. “The €3.3bn increase in the so-called Emergency Liquidity Assistance (ELA) is critical for Greece’s banks,” note the BBC, adding […]

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18
Feb

Presidential voting: Pavlopoulos elected with 233 votes

Posted by in Politics

Prokopis Pavlopoulos was elected to be Greece’s next President with 233 votes in the Parliament on Wednesday. Pavlopoulos, a retired politician from Nea Dimokratia, was nominated by SYRIZA-Independent Greeks coalition government and supported by ND. He succeeds Karolos Papoulias whose term ends on March 13th, 2015. The President of the […]

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