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Tag Archives: Troika

Troika IMF Reshuffle: Mark Flanagan to Replace Poul Thomsen?

This is the second time that it is being claimed,  IMF’s representative for Greece, Poul Thomsen, is going to be replaced. Economic news portal Capital.gr wrote in fact that he has been already replaced. By deputy mission chief for Greece, Mark Flanagan. An IMR-technocrat who worked out the Memorandum of Understanding for Ireland. …

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Troika Won’t Meet Greek Interim Gov’ – It’ll Wait Until New Government Formed

The representatives of  Greece’s lenders from the European Commission, the International Monetary Fund and the European Central Bank, the so-called “Troika” will not visit Athens and meet the Greek interim government. Instead, they will wait until a new government has been formed after the June-17 elections, IMF spokesman David Hawley said in Washington. “We …

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Greek Elections 2012: IMF/EU Warn Next Government

Officials from the European Union and the International Monetary Fund said Sunday that Greece must adhere strictly to its austerity program–that includes taking new measures in June–signaling that there was little room for a new Greek government to renegotiate the country’s bailout terms. Instead, more than 60% of the popular …

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Greek Police Federation Warns the Troika of Warrants!

The Panhellenic Federation of Police Officers wrote an open letter to the Troika representatives and warn them that it will ask to issue warrants against them. In the letter addressed to Poul Thomsen (IMF), Klaus Mazouch (ECB) and Servas Derose*(EU), Greek police unionists send the message that they will ask …

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Greece Fine-Tunes PSI and New Loan Agreement

Negotiations on the new loan agreement to Greece look as if they have not be concluded on Tuesday evening as it was planned. The meeting between PM Papademos with the coalition government parties leaders have been postponed again for Wednesday, sometime in the afternoon, Greek media reported. The Troika will …

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Greco-Troikan Wrestling in Athens: Currently 0-1

With Greece’s lenders at the edge of a nervous breakdown, angry protesters outside the Parliament and the country paralyzed due to a general strike, the Troika is grappling Greek politicians in life-threatening clinch holds, while the Greeks (citizens) are holding their breath. The frantic negotiations between the Troikans and the Greeks …

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Frantic Negotiations & Tough Bargain in Athens as the Society Boils

Frantic negotiations and tough bargain are taking place in Athens between the Troika and the Greek side, while the national media report of new demands raised by Greece’s lenders representatives. They seek additional measures worth €3.3 billion for 2012 as lowering the minimum wage -rumors speak of €600 gross/month – will hit …

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Greek-Troikan War in the Shadow of a “Default” Ultimatum

We could also title this article “Greek-Troijan War” with the Troika being on the Trojan front riding a Trojan horse. A trick-offer apparently aiming  to save the country but in fact targeting to economically destroy the Greek citizens. Dramatic negotiations without results so far are taking place under an extreme time …

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FinMin Venizelos: Moment of Truth for Greece’s Political Parties

 “Tomorrow is the moment of truth for all political parties.” Greece’s Finance Minister Evangelos Venizelos made this dramatic statement at the dawn of Saturday after a marathon meeting with Troika representatives that lasted 12 hours.  “We have resolved several issues but several critical issues remain open, issues that concern the future …

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Greece’s Trade Unions, Employers Reject Troika’s Demands For Wages Cuts in Private Sector

GSEE, the trade union umbrella for the Greece private sector and Employer’s Associations came to the same conclusion after three hours of negotiations. To say “No” to Troika’s demands to lower the minimum wage and to abolish the 13th and 14th salary. GSEE chairman Yannis Panagopoulso told reporters  “It is not allowed that …

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Papademos Gets Coalition Gov’ Support – Greece’s Red Lines

Greece’s prime minister Lucas Papademos made his point of view very clear on Sunday after meeting the leaders of the three parties forming his coalition government. “If this process [ PSI, second bailout] is not completed successfully, we will find ourselves faced with the specter of bankruptcy which will have …

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“One Step Away From PSI Deal” – Why Greeks & Troika Unhappy?

Greece and its private creditors are apparently one step away from completing the voluntary Greek Bond Swap (PSI).  “We are one step away from PSI deal”, Greek Finance Minister Evangelos Venizelos said. “We are close to the finalization of a voluntary PSI”, head of Institute of International Finance Charles Dallara said …

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Greek Coalition Gov’ Partner Threatens Not to Sign Troika’s MoU

Greece’s lenders pressure the party leaders forming the coalition government to put down their signatures under the new loan agreement, the new Memorandum of Understanding containing austerity measures that will elimination large parts of the Greek society, threatening ‘No signature, No Money’. Here comes one of the coalition gov’ partners, far-right LAOS, …

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