Tag Archives: creditors

The International Monetary Fund is alive and kicking. And insists to apply its famous wrong “remedies” to the Greek problem, no matter what. The IMF’s representative in charge of the Greek program has arrived in Athens together with the representatives of European commission, the European Stability Mechanism and the European …

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It was a short survival for SYRIZA-ANEL wonderful “parallel program” a series of social measures to tackle the humanitarian crisis for Greeks after six years of austerity and recession. The creditors said a loud and clear “NO! NO WAY!” and the Greek government took it back. The creditors were so …

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Creditors want to raise the number of minimum working years required for the basic pension. If this happen, thousands of temporary workers, especially in the tourism sector are at risk to never receive a pension. During a meeting with Greek Labour Minister Giorgos Katrougalos, the creditors tabled the proposal to …

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“We should have defaulted. They would have come around and we would have a compromise agreement, but I wasn’t allowed to use that weapon,” former Greek Finance Minister Yanis Varoufakis said in an interview to The Guardian. Speaking about the times of negotiations between Greece and the lenders, the former …

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Three in one mortgage receivers are most likely to lose their homes after Greece and creditors agreed on the measures to “protect the first residence”.  Income criteria for first residence protection are set extremely low, the state is willing to subsidize and help the banks and the poor borrowers with …

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For one more time creditors sent a clear message to Greece: first the new deal will have to pass through the Parliament. Only then they will turn on the faucet and let 2 billion bailout tranche and 10 billion for the bank recapitalization flow towards the Eurozone south. The Euro …

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For thousands of Greek debtors the month of November did not start well. As of today, Monday, November 2nd 2015, thousands of debtors are at risk to foreclosure, evictions and confiscation of everything they own. Under certain circumstance the “first residence” is still under protection and thus until the end …

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The International Monetary Fund pushes Greece’s European partners and lenders for a formal debt restructuring. This is what the IMF’s first deputy managing director, David Lipton, told in an interview with Bloomberg. IMF Pushes Europe for Formal Restructuring Accord on Greek Debt “Euro-area countries must commit to a formal restructuring …

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After a negotiations marathon that lasted 22 hours, the Greek government and its creditors reached an agreement on the 3. bailout for Greece. Information indicates that there have been compromises on both sides so that the deal could be sealed on technical teams level, some minor issues were still open. …

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It is not that they could not. They did not want to find a solution and a “mutually beneficial agreement” as Prime Minister Alexis Tsipras had hoped. What they wanted is to create a financial monster out of Greece, “to put a Eurozone member country into a social, economic and …

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After having survived the brutal Euro Summit in Brussels, Prime Minister Alexis Tsipras is facing another cruel battle today: to secure a government majority in the Parliament. With some 30-32 lawmakers of his own party openly denouncing the Brussels agreement, Tsipras most possibly will see today that the seats of …

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Here we go again: The three institutions received and evaluated the Greek proposals and sent their commendation to the Eurogroup. In their assessment, the creditors reportedly accept Greece’s proposals as basis for negotiations for a new agreement but they also say that Greece must do much more in form of …

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Thursday night and before the deadline expired, Greece sent its proposals to the creditors, proposals that will form the basis for negotiations for a loan from the European Stability Mechanism. Roughly estimated, the Greek government offered measures (“prior actions”) worth €12-13billion for an ESM loan worth €53billion for the from …

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In an quite odd movement, the European Commission decided to release on Sunday, the creditors’ proposals it offered to the Greek government on 26. June 2015, that is before June 27th 2015, the Friday’s Eurogroup meeting. The publishing of the creditors’ proposals are “in the interest of transparency and for …

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After lots of anger and disagreement the Eurogroup ended on Thursday afternoon without a deal. Exiting the meeting, Greek Finance Mnister Yanis Varoufakis said that the Eurogroup decided to continue talks today and tomorrow and thus on the two documents submitted both by the creditors and Greece. “Discussion will continue …

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There was this famous and very threatening deadline over the Greeks heads this morning. The creditors had allegedly told Greece “either … or…”, “take or breake”, “capitulate or go”. Or even worse! Had the Greeks not submitted a new reform proposal, the Eurogroup would decide on creditors’ proposals with Greece …

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As early as 6 o’clock in the morning the’ technical teams’ sat down and picked up the negotiations thread, the institutions and Greece left down in the early morning hours of Thursday. The midnight meeting between Greek Prime Minister Alexis Tsipras and the creditors ended at 12:30 without positive result. …

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The five-page creditors’ proposals to Greece have been leaked to the press and it is all over the Greek and international internet. The proposals that bear the signature of the International Monetary Fund demand from austerity in form of VAT hikes, sweeping changes in to pensions system, including raising of …

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Hardly had Greek Prime Minister Alexis Tsipras stepped at Brussels airport and the creditors started to throw stones on his way to the meeting with Institutions. They have reportedly submitted a new proposal as they do not agree with Greece’s equivalent measures. It is said that especially the IMF rejects …

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Eurogroup meetings, Institutions meetings, Euro Leaders meetings. Monday’s race between Greece and the creditors ended … early Tuesday without a deal. But with a perspective for a deal. And a bombastic package of austerity measures worth 8 billion euro for 2015 and 2016.       Three Shades of Grey – …

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