Tag Archives: creditors

Extending the legal protection framework in Greece for owners of primary residence has reportedly “snagged” on opposition by the country’s European creditors, even amid the unprecedented situation with the coronavirus pandemic and its devastating effects on the economy. According to reports, European representatives were negative to a request by Athens …

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European creditors are furious at the Greek government plan to restore Christmas and Easter bonuses for thousands of civil servants and raise private and public sector pensions by 20%-25%. This will be the second time Greece proceeds to a unilateral action within a week ignoring lenders’ terms and conditions Over …

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A Greek court has rejected an injunction filed by jewellery maker Folli Follie for temporary protection of its assets from creditors, local and international media report. The court decision opens the way to creditors’ claims up to a certain amount of money. Folli, a luxury Greek brand with a distinct …

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To cut or not to cut? The  upcoming austerity measure of pension cuts as of 1.1. 2019 became top on the agenda of political debate between the government, the opposition parties and the media on Friday. An exclusive report by Athens News Agency said that Greece’s creditors considered the “social …

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Greece insists that the austerity measure to further pension cuts as of 1. January 2019 is not necessary. Creditors try to avoid commenting on that, although the usual “Euro Sources Anonymous” claim that the euro finance ministers are against abolishing of the measure. “Greece’s budget 2019 will not include pension …

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Greek Prime Minister, Alexis Tsipras, admitted that he has been governing in the last three years following creditors instructions. He hopes in the last year before the parliamentary elections in October 2019, to finally manage to implement his own program and plan. Speaking to reporters during a meeting with mayor …

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The International Monetary Fund (IMF) needs to reach an agreement with Greece and its European creditors by next week to ensure that the fund has enough time to give money to the embattled nation. Speaking to CNBC Tuesday, Poul Thomsen, the IMF director for Europe, said that there needs to …

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Greece and its foreign creditors resumed talks on Monday over a set of reforms the country needs to implement before its multi-billion bailout program expires in August. Privatizations, electronic property auctions, an elimination of tax breaks in certain islands, labor and energy sector reforms, and measures to make Greek public …

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The head of the euro zone’s European Stability Mechanism (ESM) bailout fund told German economic newspaper Handelsblatt that Greece was making good progress with its reform drive. Klaus Regling added that “unused funds could be used to repay loans to other creditors.” Unused funds to repay loans to other creditors? …

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The intention of Greek government to start online foreclosures on November 29 was reiterated at a meeting between government officials and the technical experts of the country’s creditors in the Greek capital. According to previous reports, the online foreclosures will be held for properties worth more than 300,000 euros. The …

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Greece’s top creditors returned to Athens on Monday for meetings and talks with the Greek government. Aim is to proceed with the third review of the Greek program and conclude the procedures by the end of the year. The first meeting on fiscal matter took place with Alternate Finance Minister …

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Greece is defying the prevalent trend among the world’s industrialized nations for reducing tax rates in order to boost investment and competitiveness, a report published by the Organization for Economic Cooperation and Development (OECD) has shown. In contrast Greece has increased labor and corporate taxes, Value Added Tax as well …

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Supreme Court Prosecutor Xeni Dimitriou on Wednesday ordered the reopening of a case against the former head of Greece’s statistical service, Andreas Georgiou. Dimitriou’s decision follows the ruling of Council of Appeals Court judges who ruled for a second time that he should not face charges. This is the second …

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“If the partner has become a callous lender, who is also a liar and does not stick to the commitments and keeps changing the agreement framework on permanent basis, we should consider rupture with the lenders,” the spokesman of  the parliamentary group of SYRIZA, Nikos Xydakis, said on Tuesday. Speaking …

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A total of 48 million euros is estimated to go into Greek state coffers in 2018  if the Greek government manages to collect tax from Airbnb-style short-term rentals. According to estimates, more than 8,000 properties in Attica alone are being leased out to tourists illegally. Airbnb-style rentals are depriving the …

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Deal or half deal? Success or partial success? The Greek government reported of a deal with creditors on Thursday morning, of a preliminary technical deal and stressed that negotiations on debt relief could start. A few hours later, the German finance ministry forced Greeks back to earth, to an emergency …

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From Monday afternoon till Tuesday dawn of Tuesday, Greek government and creditors’ representatives sat in Hilton hotel for the fine touch on outstanding issues. The results is an additional austerity measures package without extra financing. This practically means a two-year extension of the bailout agreement Greece and the European creditors …

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Greece and foreign creditors resume talks on Tuesday afternoon after a long break. On the table are the so-called “reforms” prescribed under the international bailout and further debt relief. The aim is to reach a comprehensive deal (staff level agreement) before the Eurogroup meeting on May 22.  Talks are over …

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Ex banker, ex socialist and political outsider Emmanuel Macron won the first round of presidential elections in France on Sunday. French elections results have been perceived with a sign of relief in the European Union. A fine day for Europe and Greece, where creditors are expected to return to Athens …

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In an op-ed to Wall Street Journal, Greek Prime Minister Alexis Tsipras urges creditors to “end punitive approaches of the past”. He stresses that the differences between the International Monetary Fund and the Europeans are harming the Greek economy. The recent economic crisis persuaded the international community that long-term economic …

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