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Tag Archives: bailout

Where did Greece’s bailout money go? Mostly to the lenders…

There is much talking about debt forgiveness and haircut lately with many economists (finally!) wondering where did the bailout money for Greece go. “Just 10% from the two bailouts totalling €252 billion went into public spending,” UK-based NGO Jubilee Debt Campaign has found out. “London-based pressure group Jubilee Debt Campaign, …

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IMF and ECB will resume bailout talks with Greece’s new government

Snap elections in Greece? The statements of the country’s main lenders remind me of an old Greek song: “It’s midnight and the whole nature quietens…” The International Monetary Fund and the European Central Bank said that they will hold bailout talks until after elections and will deal with the country’s …

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E-mails come and go and it looks as if the Troika will extend Greece’s bailout program

E-mails land in the inboxes of the Troika and the Greek government seeking an agreement on what austerity measures the debt-ridden Greeks will have to take in order to fill the fiscal gap of 2.5 billion euro stated by the country’s international lenders EU, IMF and ECB. The latste Troika …

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Troika, Greece meeting in Paris had also a Snap-Polls Dragon

Like in all good old fairy tales, the meeting of Troika and Greece’s representatives in Paris had a dragon. A dragon spitting fire and generously distributing slaps in the face of the team sent by Samaras-Venizelos coalition government to negotiate with the country’s lenders the bailout exit. Aim of the …

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ILO warns of prolonged social crisis in Greece

International Labor Organization (ILO) warned on Monday, that Greece faces a prolonged social crisis unless action is taken.  In its report “Productive Jobs in Greece” released today, the ILO calls for additional measures to support jobs plus social protection and a stop to further wage cuts in the country. The …

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J. Ackermann: There was an alternative bailout to save Greece but Germany rejected it

“There was a bailout plan to save Greece in February 2010 but Germany opposed it, therefore Greece had to turn to International Monetary Fund.”  Josef Ackermann, a Swiss banker and former executive officer of Deutsche Bank made the revelation in an interview to Sunday newspaper To Vima. The bailout plan …

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Athens: Greece’s Euro-partners will bless next bailout tranche

Greece’s lenders seem in general satisfied with the outcome of the multi-bill voting on Sunday night. The impact of voting to Greeks’ EU partners was immense. For example, one of the fierce critics of debt-ridden Greece, German Finance Minister Wolfgang Schaeuble immediately declared, he felt …relaxed. German Finance Minister Wolfgang …

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Greek FinMin invites SYRIZA to join Eurogroup negotiation table

Greek Finance Minister Yiannis Stournaras openly invited Greek opposition parties in general and leader of left-wing SYRIZA, Alexis Tsipras, in particular to join the negotiation table on the Greek debt issue. Speaking to private SKAI TV on Monday, Stournaras reiterated his invitation to the members of main opposition party SYRIZA …

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EUobserver: bailout advisers to Troika – the multi-million unholy business with austerity

Who are the advisers to Troika who rule over our austerity-hit lives? In Greece, in Portugal, in Ireland, in Cyprus and Spain? How do they get the jobs and the contracts? How much are they being paid to ruin the lives of citizens in the European South? What are their …

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