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Tag Archives: deal

Greece’s Public DEPA and Gazprom strike a price deal for natural gas supply

Public Gas Corporation of Greece DEPA Commercial and Gazprom struck a deal on Monday after months of negotiations on the price for the supply of natural gas, on terms that were favorable for the Greek market, an announcement said. The new deal, which is included within the framework of the …

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Egypt ratifies maritime boundary deal with Greece

Egypt’s president Abdel-Fattah el-Sissi ratified on Saturday the maritime deal setting its Mediterranean Sea boundary with Greece and demarcating an exclusive economic zone for oil and gas drilling rights, the country’s state-run news agency reported. The bilateral agreement is widely seen as a response to a rival deal between Turkey …

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Turkey claims Greece-Egypt EEZ maritime deal was “null and void”

Just a few hours after Greece and Egypt signed the historic agreement of the Exclusive Economic Zone on Thursday, Turkey’s Foreign Ministry issued a statement claiming “a maritime boundary” between the two countries does not exist” and that such an agreement was “null and void.” The demarcated area is “located …

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Turkey-Libya deal, drilling activities are “counterproductive” says US State Dept.

Turkey’s drilling activities, combined with the signing of a memorandum of understanding with Libya are are “counterproductive” and do not contribute to the stability and security of the Eastern Mediterranean, Deputy Assistant Secretary of State for European and Eurasian Affairs Matthew Palmer said on Wednesday at a teleconference with Greek …

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Turkey to start drilling off Greece as planned in deal with Libya

State-owned oil company Turkish Petroleum (IPAO) has submitted an application to Tripoli-based government to start drilling in parts of the eastern Mediterranean outlined in the country’s contentious maritime borders agreement with Libya, Turkey ‘s Energy Minister Fatih Donmez has said. Donmez said Turkey would start exploring hydrocarbon resources both in …

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Eurogroup agrees on €240-billion Pandemic Crisis Support fund

The Eurogroup approved on Friday cheap loans from the European Stability Mechanism for emergency pandemic crisis support without conditionality. According to the deal reached, Euro area member countries hit by the coronavirus pandemics have access to loans totaling 240 billion euros with zero interest and practically without conditions. The rescue …

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EU-Turkey Deal leading to short-sighted and dangerous migration policies

The European Union’s deal with Turkey to return “irregular” migrants has led to policies and practices in Greece that are short-sighted, ineffective and dangerous, 25 organizations including Oxfam said on Thursday, ahead of the deal’s third anniversary on Monday. In an open letter to European leaders, they said that as …

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Government and banks strike deal on protection of “main residence”

The Greek government and representatives of the country’s four systemic banks have finally agreed on the issue of debtors and the protection of the ‘first residence’. After weeks of negotiations, the government and the banks agreed on the framework that will protect the first residence of defaulting borrowers. The criteria …

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Greece gov’t dismiss reports deal with creditors to scrap pension cuts measure

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 warns Brussels: No Brexit deal could trigger economic meltdown

Greece has sent a shock warning to European Union bosses that they risk the economic and political stability of the bloc’s poorer countries while jousting with Britain over a possible no-deal Brexit. Athens said Brussels failing to deliver a Brexit deal would leave the country facing “increased financial and political …

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German-Greek deal on refugee returns advancing but not easy

Talks between Germany and Greece on a deal for refugees returns are fairly advanced, said Chancellor Angela Merkel on Monday, highlighting that an agreement with Italy still has some time yet. “We are in the process of negotiations,” she said during a joint press conference she gave in Berlin with …

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Merkel: “A proof of trust Greece is given several decades to recover”

German Chancellor Angela Merkel said that long period of primary surpluses was necessary fro Greece in order to reduce debt. She denied she had any deal with Prime Minister Alexis Tsipras to postpone Value Added Tax hikes in exchange for asylum seekers’ returns from Germany. At her annual summer press …

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Merkel & Seehofer agree on “migrants’ transit centers” in the borders with Austria

Chancellor Angela Merkel (CDU) and her rebellious interior minister from Bavarian CSU, Horst Seehofer, reached a compromise on migration at almost literally the eleventh hour Monday, averting a government crisis for the time being. Mr. Seehofer, who threatened to resign the previous day, will stay in office. The two agreed …

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Bulgaria, Greece and Serbia sign 5G Corridor deal for driverless vehicles

The European Commission has stated that the Bulgarian and Greek transport ministers, Ivaylo Moskovski and Nikos Papas, and Tatjana Matić of the Ministry of Trade, Tourism and Telecommunications of Serbia, have signed an agreement at the Digital Assembly 2018 in Sofia to develop an experimental 5G cross-border corridor that will …

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Greece’s bond yield hit 4-weeks lows after Eurogroup deal

Greece’s borrowing costs fell to four-week lows on Friday after the country was granted debt relief from the euro zone. Euro zone finance ministers on Friday extended maturities and deferred interest of a major part of their loans to Greece along with a big cash injection to ensure Athens can …

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Germany hints IMF can stay out of Greece’s bailout, as EZ and Fund seek last minute deal

Germany has hinted the International Monetary Fund can stay out of financing the third bailout for Greece as Berlin vehemently rejects debt relief. At the same time, Euro-zone  policy-makers will seek last-minute backing this week from the International Monetary Fund for their debt-relief offer to Greece, to ensure it is …

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