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Tag Archives: creditors

Dijsselbloem: Income tax measures €1.8bn in 2019 if Greece misses targets

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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Greece’s €3bn loan to boost employment has to wait, says World Bank

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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Lenders press Greece to sell 40% of PPC lignite units and energy producing plants

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 approached the World Bank for a loan of fresh cash

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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Crucial program review negotiations end without agreement

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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Lenders’ Water Torture: Two Privatization issues delay Greece’s Program Review & bailout tranche

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 & Institutions agreed on which prior actions would not be implemented

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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Tax Shock! Greek gov’t to raise income tax to 50% for €60K-incomes. Really?

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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First round of Review Talks: Creditors – Greece 0-0

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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