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Tag Archives: agreement

Breakdown in talks, as Greece walks out in Brussels. Now what?

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 …

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Greece sends additional Reforms Proposals to Brussels

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 …

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Eurogroup statement on Greece – Full Text

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 …

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Troika gives Greece ‘green light’ to disbursement of €2.8 bn bailout tranche

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 …

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German FinMin Schaeuble: “Banks closure limited capital flight from Cyprus”

“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. …

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Anastasiades-Samaras agree Cyrpiot bank branches in Greece to be absorbed

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 …

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Greece’s Banks Recapitalization to be Completed By April 2013

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 …

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25 EU Leaders Agree on Fiscal Compact Treaty. What’s that?

 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 …

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EU Competitiveness Pact: Fast Track Poverty for all

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, …

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