Tag Archives: agreement

The European Commission and the European Central Bank are reportedly working on a draft for a Greek debt relief, in an effort to break the impasse of bailout talks. According to an exclusive story of daily Kathimerini,the draft will be in form of a statement and thus only in case …

Read More »

The Greek delegation walked out the negotiations with creditors representatives in Brussels on Sunday afternoon. During the meeting that lasted 46 minutes, the Greek side submitted revised proposals but they were considered as “insufficient” by the creditors. A difference gap of 2.6 billion euro remain between the two sides. According …

Read More »

The Greek government sent additional reforms proposals to creditors in Brussels this morning. A source from EU told AFP that the creditors are “now in the process of studying… counterproposals’ submitted today. No details about the content of the 3-page draft have been made known. It seems that the Greek …

Read More »

Finance Minister Yanis Varoufakis told media Thursday morning that an agreement with Greece’s creditors can be reached by “June 30th.” The date is some 10 days after Greece has to meet its obligations to the IMF with the payment of four tranches (5-19 June). The creditors have repeatedly said: no …

Read More »

Greece’s most crucial week has started and there is an odd and unusual lack of information about the progress of negotiations. No fuss, no buzz, no provocative or undermining tones. A cloud of suspicious silence has spread over Athens, Brussels and Berlin. Or all sides suddenly grew up. Both sides, …

Read More »

Negative signals and immense pressure have been the usual creditors’ modus operandi for the last five years. The usual operation tool, when talks between Greece and its creditors reach a dangerous curve and are short before reaching an agreement. While the Greek side expresses hope for an agreement by Sunday, …

Read More »

Suppose there is no deal reached by June 5th between Greece and its creditors, suppose that no bailout money arrives in Athens, suppose the Greek government and the Greek Finance Minister do not transfer the money to the International Monetary Fund on June 5th. What will happen? The IMF will …

Read More »

Nothing changed over the weekend. Greece found no money to pay the international Monetary Fund on June 5th, creditors found no way to agree on bailout talks. The result is logically: no deal, no money. precisely, No money to the IMF. Interior Minister Nikos Voutsis said it clearly:  Greece cannot …

Read More »

I am a bit confused about the controversial messages coming over from the other side of the Atlantic. Two messages came on Friday and both leading to one direction – deal between Greece and its creditors –  but on different speed. the message by IMF’s Managing Director Christine Lagarde was. …

Read More »

Amazing! European Commission President Jean-Claud Juncker sat down and wrote several pages of a proposal to “help” Greece strike a deal with its creditors, unlock the impasse. allow the release of some bailout money to avoid default on June 5th 2015 and give time for a new deal in autumn. …

Read More »

“It’s a good strategy, finally someone raises his voice towards the lenders,” Eleni says as we sit around the table for the traditional Lent lunch on Monday. We nibble from plates and bowls full of raw and cooked seafood and various salads, we bite on crusty Lent Monday bread with …

Read More »

Below is the full text of the Eurogroup common statement as agreed by Greece and its euro zone partners. The statement details the 4-month extension of the loan agreement (MFAFA) and the conditions Greece has to fulfill until the end of April 2015. But first of all, Greece has to …

Read More »

Prime Minister Alexis Tsipras and Eurogroup head Jeroen Dijselbloem agreed on the sideline of the EU Leaders Summit in Brussels, that a team of Greek technocrats will cooperate with representatives of the EuroWorking Group until Monday to prepare the Eurogroup meeting of 16 February. According to newspaper To Vima, Tsipras …

Read More »

Greece’s public sector unions umbrella ADEDY will launch a half-day strike on Monday, July 8th 2013 to protest the upcoming mass lay-offs in the public sector. The strike will stat at 12 o’ clock noon. There will be a gathering at 12:30 at Karaiskaki Square in downtown Athens and a …

Read More »

Greece’s international lenders, representatives form EU, IMF and ECB gave the green light for the rapid disbursement of the 2.8 billion euro bailout tranche, after negotiations with the government that lasted several days. “The recent steps taken by the (Greek) authorities indicate that the March targets will be fulfilled soon, so …

Read More »

“The Cyprus deal is a ‘fair’ agreement that lies on the German position,” finance minister Wolfgang Schaeuble said during a press conference in Berlin on Monday, after returning from Brussels. “Europe is in solidarity, Europe remains in solidarity. But you have to remove the causes that lead to such a crisis. …

Read More »

Cypriot president Nicos Anastasiades and Greek prime minister Antonis Samaras agreed that branches of Cypriot banks in Greece will be absorbed by Greek banks. The agreement was reached during a telephone conversation between the two leaders on Friday morning, Greek and Cypriot media reported. The office of Anastasiades issued a …

Read More »

Recapitalization of Greece’s banks will need to be completed by end of April 2013.  According to TA NEA newspaper, Finance Minister Yiannis Stournaras and Deputy Finance Minister Christos Staikouras discussed with the Troika on Sunday evening the terms and the time-table for the recapitalization of the viable Greek banks. It …

Read More »

 Twenty five European Union leaders agreed at the EU summit on a new fiscal treaty designed to strengthen budget deficit and debt rules in all EU members. UK and the Czech Republic have decided not to enter into it. The new Treaty, now a Treaty of 25 countries, will impose German …

Read More »

Eurogroup leaders agreed in principle on the key issues of the Competitivenss Agreement. This agreement aiming to adjust fiscal rules for all, will economically kill employees and workers rights once for all. Its main targets are lowering wages, adjustment of  public and private sector wages to productivity,  linking pensions to life expectancy. In short, …

Read More »