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Tag Archives: debt relief

Debt relief for Greece: Extend loans repayment, reduce interest to near 1%?

The Eurogroup is reportedly seeking to reduce Greek debt payments by extending loans until beyond 2040 and reducing the interest rate to near 1%, well below the rate Greece would need to pay international investors. the Eurogroup meeting scheduled for upcoming Thursday is crucial for Greece as the country prepares …

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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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Greece deserves Debt Relief, austerity reforms must continue, says OECD chief Gurria

Greece has made an “enormous” reform effort since its debt crisis broke out and its international lenders must now grant the country debt relief, OECD chief Angel Gurria said while on a visit to Athens on Monday. Gurria, who met Greek Prime Minister Alexis Tsipras in Athens, urged Greece to …

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Scholz like Schaeuble: German policy towards Greece remains the same

So far, German Finance Minister, social-democrat Olaf Scholz had barely revealed his intentions regarding Greece and the euro zone reform. But now official papers disclose the first indications about the policy Berlin will follow. “Much sounds like his predecessor, Wolfgang Schaeuble,” writes German economic news daily Handelsblatt,that has obtained a …

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“Debt relief for Greece could be finalized soon,” says Eurogroup chief Centeno

Greece and its creditors appear to be one step closer to reaching a final agreement on the restructuring of the country’s huge debt pile, according to Eurogroup President Mario Centeno. In an interview with CNBC, Centeno said  that although there are still a “few issues” regarding Greece’s public debt, European …

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Tsakalotos meets new German counterpart Scholz in Berlin

The meeting between Greek Finance Minister Euclid Tsakalotos and his German counterpart Olaf Scholz on Friday was held in a positive atmosphere, according to finance ministry’s sources. Speaking to amna,the same sources said that they exchanged views on issues of mutual interest and European policy, adding that the discussions will …

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EU, ESM, France press ahead on debt relief for Greece, but will Germany accept?

France and the European Union are pressing ahead with plans to implement debt relief for Greece. German economic newspaper Handelsblatt has obtained a working paper written by the European Stability Mechanism, which calls for extending Greece’s loans for a period of seven years and deferring €13 billion in interest payments …

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Eurogroup chief Centeno sees “enormous potential” in Greece, does’t exclude “possible debt relief measures”

“Greece has gone through a very long period of economic adjustment and is now preparing to stand on its own feet as the program is approaching its expiration in August,” Eurogroup President Mario Centeno told the Athens-Macedonian News Agency (ANA) in an interview on Tuesday, noting he sees “enormous potential” …

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Markets react positive as Moody’s upgrades Greece’s credit rating by two notches

In a surprise move, ratings agency Moody’s upgraded Greece‘s credit rating to B3 from Caa2, maintaining the positive outlook. Moody’s cited “material fiscal and institutional improvements” under the current adjustment programe, which will be sustained in the coming years. This should support economic recovery and banking sector. Furthermore, Moody’s said …

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German Economist Fratzscher: There will be haircut for Greek debt in 2018 but with another name

There will be Greek debt relief in 2018 but they will use another name for it, top German economist and  chairman of the German Institute for Economic Research (DIW), Marcel Fratzscher said in an interview to jungundnaiv.de, a German website that approaches political and economic issues in a relaxed, alternative …

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The IMF insists on debt relief measures for Greece

The IMF Board will need to meet again to reach the final decision to activate the programme in Greece, clarified Gerry Rice, the Press Representative of the Fund, while speaking to reporters on Thursday. He reiterated that the decision is based on two parts: reforming progress and debt alleviation that will …

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At presser with Tsipras, Trump says “Greece should get debt relief”

At a joint press conference with Prime Minister Alexis Tsipras at the White House, US President Donald Trump expressed his clear support to Greece. “Greece should get responsible debt relief,” Trump said and millions of Greeks signed in relief. He said further that “Greece is a very reliable ally and …

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