Saturday , October 21 2017
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Tag Archives: payments

IMF : Greece has right to “bundle” four June payments into one

Greece’s deadline for repayment to the International Monetary Fund is coming close, while the options for agreement with creditors remain unclear. Without agreement there is no bailout funding for cash-strapped Greece that struggles to avoid a “credit event” on June 5th, when €300 million are due to the IMF. Greece’s …

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Crete: prosecutor wants 2 years imprisoment for widow, 90, for illegally receiving allowance

A prosecutor at a court in Chania, proposed a two-year prison sentence for a 90-year-old widow. The woman had illegally collected allowance by the social security fund IKA, after the death of her husband. For seven consecutive years, the widow received allowance payments totaling 67,000 euro, in addition to pension …

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Greek Municipality Suspends Operation Due to Economic Problems

 A first in Greece: Acharnon Municipality, a suburb of Attica prefecture, suspended its operation due to economic problems. The decision was taken on Thursday evening at the meeting of the city council. Acharnon Municipality said, it was unable to pay employees and to cover fixed costs. A notice uploaded on the municiaplity’s website …

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Greece To Pay at least €35.5 Million to PSI Advisers

 OUCH! Greece has to pay at least 35.5 million euro to its two main advisers helping the debt-ridden country with its Greek Bond swap (PSI) or in common English “debt restructuring”. Greek Finance Ministry saw itself obliged to reveal the payments, after daily Proto Thema  claimed on Tuesday, that Athens had …

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ISDA: Greek PSI-CACs “Credit Event”; CDS Payments Triggered

 Yeap. The activation of the Collective Action Clauses” (CACs) consist a “credit event”, said the International Swaps and Derivatives Association (ISDA) on Friday. Now the CDS will have to be paid out and all those who bet on Greece’s bankruptcy will make some nice profit. The CDS or Credit Default Swap is a …

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