Tag Archives: debt relief

Optimistic about the exit from the bailout program in August and the fiscal performance of the country, Greek Finance Minister, Euclid Tsakalotos, did not rule out that the long-term fiscal targets could be reviewed or that a further debt relief could be achieved with the country’s creditors. Confident that Greece …

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The atmosphere on Friday morning is good. Greece’s creditors cheer, international and even German media hail the Eurogroup deal as “‘end of the Greek crisis”, “Greece exits the bailout” and “the Greek debt is sustainable.” But the Eurogroup of the 19 finance ministers  did not give Greece a debt relief. …

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Germany has earned around 2.9 billion euros in profit from interest rate since the first bailout for Greece in 2010. This is the official response of the Federal Government to a request submitted by the Green party in Berlin. The profit was transmitted to the central Bundesbank and from there …

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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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“If prior actions are completed, the Eurogroup next week will decide on final disbursement to Greece and possibly on additional debt relief,” managing director of European Stability Mechanism, Klaus Regling said on Saturday. In a lengthy interview with daily Ta Nea, Regling unfolded some aspects of the Greek issue. “We …

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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 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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The International Monetary Fund is urging the European Union, it must give Greece “upfront and unconditional debt relief” or it will refuse to part-find the latest bailout program. Without immediate action the financial plight of the recession-ravaged country would deteriorate dramatically over the coming decades, the IMF warned in a …

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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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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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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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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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The new German Finance Minister Olaf Scholz (SPD) has announced a new course in European politics and spoke quite clear words about Greece and the debt relief. In an interview with German  “Süddeutsche Zeitung”, the finance minister and vice chancellor in new German government said  developments in Greece are a …

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“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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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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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 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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The International Monetary Fund does not see any risk of deviating from the budgetary targets set in the Greek program and therefore does not require additional measures. This assurance was made by William Murray, the IMF’s Deputy Spokesperson, as part of a regular briefing in Washington. Murray reiterated that significant …

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Greece’s official lenders will be able to determine if Athens needs further debt relief only in the summer of next year, the head of Europe’s rescue fund (ESM) said on Thursday. Klaus Regling said that Greece “has received more debt relief in the past few years than any other country …

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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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