Tag Archives: creditors

In a letter to the members of the Eurogroup, chief Jeroen Dijsselbloem summarized what was agreed upon at the meeting in Malta on April 7th 2017. In his letter Dijsselbloem reveals also what the Greek government agreed on the implementation of the additional austerity measures scheduled to be implemented in …

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The efforts of the Greek government to boost employment through a loan from the World Bank must be put on hold. And there are two reasons for this, reasons that have directly to do with the World Bank. According to exclusive information of daily Naftemporiki,  a standing and inexorable condition before …

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Below is an article I found about the Greek Problem. Picked it up from The Market Mogul.com, a website about finances. Enjoy! The Greek problem: Politics destroying Economy… Lack of action leads to loss. This loss is even greater when it takes place at a national level. The absence of …

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Greece’s creditors plan to charge a so-called “entrance fee” of ten euro. The creditors are reportedly considering to charge a 10-euro entrance fee to anyone visiting the country to raise revenues. Creditors’ aim is to help the debt-ridden country to achieve the 3.5% primary surplus for the next years. The …

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Greek Interior Minister – an Energy minister in first SYRIZA government – Panos Skourletis accused on Monday international lenders of reneging on a 2015 bailout deal by trying to force a fire-sale of its main electricity utility Public Power Corporation (PPC/DEH) to serve “domestic and foreign business interests.” Later, a …

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Greece’s government has asked financial assistance from the World Bank. The amount of the loan has not been revealed, neither when exactly the talks took place. However it sounds most possible that the government’s decision came amid negotiations with creditors on the second review of the third bailout program. Greece’s heavily …

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Former finance minister Yanis Varoufakis strikes back and urges Prime Minister Alexis Tsipras to turn his back on Greece’s lenders, adopt a parallel payment system  and to unilateral restructure the loans held by the European Central Bank. In an op-ed in Efimerida ton Syntakton, Varoufakis, Varoufakis calls on Tispras to …

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Is the Greek government preparing to capitulate to creditors’ demands for additional austerity measures that have to be legislated now or risk to miss the closure or the second review? The government reportedly tries to come to an agreement with creditors and close the second review thus proposing an alternative: …

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European creditors continue the hard line towards the Greek government with a clear message: The institutions representatives will not return to Athens if the government does not agree to legislate now additional austerity measures for the years 2019 and 2020. Citing an anonymous sources in Brussels, private ANT1 TV reported, …

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Armageddon on the way to Greece! Measures that will crack down pensioners and debtors to the government and will affect wages and recruitment in the public sector are included in the so-called “updated bailout agreement” Greece’s creditors sent to the Finance Ministry on Sunday. According to daily Kathimerini that published …

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The critical negotiations between Greece and the lenders aiming to conclude the second program review …concluded at 5:30 a.m. on Tuesday without agreement. Main issues that still remain open are the Labor and the Fiscal ones. There was some convergence in the fiscal issues, the gap decreased to 600 million …

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They never run out of ideas. Did you know, there is a “single minimum wage system” foreseeing that an employee receives the same wage in the entire working life? I didn’t. But the International Monetary Fund did. Or it may have neoliberally invented it. I don’t know and I am …

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Greece and lenders are just a couple of steps away to conclude the Greek Program Review and have the 7.5-billion euro bailout tranche arrive in Athens and from there have 90% of the loan turn back to lenders. The Euro Working Group did not close the Review yesterday, Monday, but …

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Greece’s economic team and institutional creditors are a step closer to the release of the 3. bailout tranche of 7.5 billion euro. In an extraordinary teleconference that ended in the early morning hours of Wednesday, the two sides reportedly agreed on  several ‘open’ prior actions that Athens had said it …

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It has been clear long ago, that the way Greece’s creditors address the Debt does not work. It has little to do with Greeks’ attitude to not implement all austerity agreements they sign with the creditors.It has to do with the wrong “rescue” formula that demands form a bankrupt country …

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The stand-off between Greece and its European lenders and the IMF continues also on Thursday morning. While the proposal by Greek Prime Minister Alexis Tsipras for an EU Summit has been turned down by the European Council and Germany, it is still not clear when an extraordinary Eurogroup will take …

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The European Commission said today that it cannot confirm an extraordinary Eurogroup meeting on Thursday. This will be decided by  Eurogroup chief Jeroen Dijsselbloem  and will depend on the sufficient progress of the negotiation talks. EC spokeswoman Annika Breidthardt told reporters that “discussions on emergency measures in progress” and that …

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Remember when we used to have these old record players and sometimes there was a problem with the needle and it would get stuck? The Eurogroup seems to have the same problem. Its needle sticks and it repeats the same thing again and again. After the meeting today, in his …

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The Greek government aims to get additional 400 million euro revenues from taxes alone in the current year. But where it will get them from? From the better-earners. Therefore it reportedly submitted a groundbreaking proposal to the country’s creditors: taxation of 50% for those ‘natural persons’ – i.e. employees – …

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Representatives of Greece’s creditors had a 3-hour meeting with Greek officials top officials Finance Minister Tsakalotos, Labor Minister Katrougalos and Economy Finister Stathakis in the first round of negotiations. Protagonist in this today’s meeting was Labor Minister Giorgos Katrougalos as the issue of social security contributions was top on the …

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