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Tag Archives: debt crisis

Moscovici: Greece will need to legislate a few more fiscal measures

European Commissioner for Economic and Financial Affairs, Pierre Moscovici, said that Greece needs to still legislate a few more fiscal measures but also measures to modernize the public administration and state services. He did acknowledge that the bulk of austerity measures Greece legislated in May were sufficient for the country …

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Greek Gov’t: We are far from finding a solution at the Eurogroup on Thursday

It is usually German Finance Minister Wolfgang Schaeuble who claims pessimism on solution ahead of crucial Eurogroup meetings. This time – for a change – it is the Greek government. “We are far from finding a solution at the Eurogroup on Thursday, given that Germany has not taken any progress …

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Eurogroup May 22 – Poll: Does Greece deserve Debt Relief?

Eurozone finance ministers meet today to discuss the progress made towards the second review of the Greek program and the sustainability of the Greek Debt. The government in Athens hopes for a comprehensive solution that will include measures for debt relief. Berlin vehemently rejects any relevant discussion before the current …

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IMF warns no Greek deal without a ‘credible strategy on debt sustainability’

The International Monetary Fund’s discussions on Greece’s debt are ongoing and no deal has been reached, IMF spokesman William Murray said on Thursday. At the same time, Murray warned that there will be no Greek deal without a credible strategy on the Greek debt and that the Fund will not …

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No debt relief, no IMF participation and therefore no implementation of €3.6bn measures, says PM Tsipras

Greek Prime Minister Alexis Tsipras made it clear: the additional austerity measures for 2019-2020 will not be implemented if there is no measures for debt relief.  Then, without debt relief the IMF will not participate in the Greek program. “It is not a figure of speech, we will implement the …

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Creditors make it clear: No debt relief for Greece before 2018

Creditors have cooled down Greece that has been awaiting for debt relief measures. “Greece has done its bit, now it wants debt relief,” Prime Minister Alexis Tsipras said on Thursday, two days after the agreement with creditors on additional measures 3.6 billion euros for 2019 and 2020. However, the country’s …

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IMF demands €450mn austerity cuts in unemployment, poverty allowances for 2018

The austerity nightmare has no end. Despite the fact that the International Monetary Fund has only an adviser role in the third bailout program, it keeps pushing and pushing for cuts and more cuts without end. It wants cuts in unemployment allowance – currently at 360 euro. Cuts in poverty …

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Greece will need debt relief, says Dijsselbloem at EU Parliament Plenary

Eurogroup head Jeroen Dijsselbloem appeared at the Plenary of European Parliament for the first time after he stirred the Europeans of the South with insulting remarks. He made a kind of apology saying “I did not want to hurt anyone.” But as the Plenary topic was Greece, Dijsselbloem gave a …

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Juncker says further pension cuts ‘bad advice”, calls on Eurozone to draw up debt relief measures for Greece

European Commission President Jean-Claude Juncker urged euro zone countries to draw up more debt relief measures for Greece next month. He said that Athens needed help after making “huge progress” in its economic reforms. “Further pension cuts is a bad advice,” Juncker said. In an interview to Greek economic news …

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Tsipras says additional measures won’t be implemented if no debt relief deal

Greek Prime Minister Alexis Tsipras said that the additional austerity measures 2019-2020 will not be implemented if there is no measures for debt relief. In an interview to private ANT1 TV on Tuesday evening, the Prime Minister clarified that the government will legislate for the additional pension cuts and higher …

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Dijsselbloem: Income tax measures €1.8bn in 2019 if Greece misses targets

In a letter to the members of the Eurogroup, chief Jeroen Dijsselbloem summarized what was agreed upon at the meeting in Malta on April 7th 2017. In his letter Dijsselbloem reveals also what the Greek government agreed on the implementation of the additional austerity measures scheduled to be implemented in …

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Lagarde: IMF participation only if Greece’s debt is sustainable

The International Monetary Fund participate in the Greek program only if the country’s debt is judged as sustainable, the Fund’s managing director Christine Lagarde said in an interview to representatives of leading European newspapers. Additionally, she said talks over the Greek debt must first be completed before the IMF decides …

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Greece’s Debt: Lagarde launches new round of argument with Schaeuble

Managing director of the International Monetary Fund, Christine Lagarde, said that she disagrees with German Finance Minister Wolfgang Schaeuble over Greece’s financial problems. “I am not aligning myself with Minister Schaeuble who says that Greece’s problem is not debt but productivity,” Lagarde said in an interview to conservative-leaning American Enterprise …

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IMF Thomsen: Greece will need at least 20 years to return to pre-crisis levels

Greeece will need at least twenty years to have its GDP return to pre-crisis levels. This message full of … spring optimism was transmitted by Poul Thomsen, in charge of the European program of the International Monetary Fund. Speaking at a conference in the University of Oxford, Poul Thomsen said …

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