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Tag Archives: debt relief

ESM Regling prepares ground for new loan: “Sooner or later Greek govt will be out of liquidity”

Odd. It’s normally German Finance Minister Wolfgang Schaeuble who ‘announces’ plans for new Greek programs and additional loans. Apparently, this time, the Germans made an arrangement among themselves: That ESM chief, German Klaus Regling will bring the bad news. It’s logical, as Schaeuble tries to topple Chancellor Merkel and cannot …

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Moscovici to Greece: Forget about debt relief, first program review then discussion on “debt serving”

“The IMF is an asset,” EU Commissioner for Monetary Affairs Pierre Moscovici told reporters in Brussels, as in Athens the government ministers struggle to find a way out with creditors representatives on hot potatoes like the red-loans and the pensions. But talking to Greek reporters he tried first of all …

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What did the IMF do wrong with Greece? Almost everything

There is no doubt that the international Monetary Fund imposed a not only a strict austerity program in Greece – as in many other countries. Moreover, the Fund has created a downright mess in the Euro-member country as it apparently could not deal with a currency that cannot be devalued. …

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Foreign Policy “Why Greece Needs Syriza to win”

Interesting approach by Philippe Legrain, economic adviser to the president of the European Commission from 2011 to 2014. In his opinion article in Foregin Policy, Legrain favors a debt relief and  argues that left-wing Syriza is the best option for Greece given the current and past economic and social circumstances. …

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Greek Parliament budget office: primary surplus targets are much too optimistic

“Primary surplus targets are much too optimistic,” says the budget office of the Greek Parliament with reference to the mid-term economic plan issued last week. In the report released on Friday, the budget office urges the ‘downwards revision of the primary surplus targets” and “the discussion on debt relief to …

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Deputy FinMin Staikouras admits: “Greek debt is not sustainable”

SSSS-U-rrr-P-R-I-S-E! Greek deputy finance minister Christos Staikouras admitted that “the Greek debt is not sustainable and its relief will require negotiation.” In an interview to weekly Parapolitika, Staikouras said: “The public debt has been gaining strong increasing dynamics, whether in absolute levels or in relation to GDP, the debt is …

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