Tag Archives: debt restructuring

French presidential candidate Emmanuel Macron revealed how he will deal with Greek debt in case he wins the elections on Sunday. He said he is in favor of a concerted restructuring of the Greek debt by keeping Greece in the euro zone.. In his last elections campaign interview on Friday, …

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The International Monetary Fund fully adopted the line of German Finance Minister Wolfgang Schaeuble. Managing Director Christine Lagarde said that debt restructuring for Greece was needed but the IMF will not insist on upfront debt relief measures. Modalities must be decided upfront, Lagarde said adding that the IMF is  still …

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For one more time the International Monetary Fund acknowledged that it made mistake sin dealing and handling with the Greek crisis. In its latest report “Crisis Program Review” published on December 16th 2015, the IMF notes with regards to “Restructuring fo the Greek debt” that: “It should have been restructured …

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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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This is the chance for Greece to promote its most important interests: debt restructuring and investment. The United Nations General Assembly turned into an arena full of opportunities for fruitful contacts so that the debt-ridden country can boost its two noble causes. Prime Minister Alexis Tsipras did not leave any …

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Lenders in general and Brussels in particular have apparently a specific vision about Greece’s next government: a broader coalition with parties dear to the European Commission and the European Parliament. You know, like the water-proof Europeans, the good old chaps from PASOK and New Democracy,  the new ‘liberal socialists’ or …

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After IMF, Greece and USA, Germany conceded on Thursday that Greece would need some debt restructuring as part of any new loan program to make its economy viable. It wans’t German Chancellor Angela Merkel, bu the himself personally German Finance Minister Wolfgang Schaeuble who admitted so. Schaeuble, who has made …

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Finance minister Yanis Varoufakis has stated that he will resign if the Greek people vote ‘Yes’ in Sunday’s referendum. Speaking to Bloomberg TV on Thursday morning, Varoufakis said among others: * “If a yes vote, I will not be finance minister on Monday night * I prefer to cut my …

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Greek government sent a 47-page long draft plan to the creditors on Monday. In the lost list of austerity reforms the government has among others: privatizations and early retirement,  debt restructuring and Primary Surplus 2015-2018, tax revenues, minimum wage and collective bargain. The signals from the country’s creditors were rather …

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There would be “havoc” if Greece left the euro zone and adopted an alternative currency, Willem Buiter, global chief economist at Citi, told US-network CNBC. “I really think the notion that Greece exits with or without a shadow currency or a proper currency (is ridiculous). Greece has not, historically, been …

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Let’s put two things clear right away: Greece’s SYRIZA-led coalition government insists on debt-restructuring,  negotiations with the country’s creditors and a “new European deal” in general. In contrast, Greece’ creditors, mainly the European Union with the lead of Germany warn the Greek government that it should forget debt-restructuring and it …

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The times when state bonds underwent haircut or ‘debt restructuring’ to easy the national debts seem to be over. Cyprus showed the way with ‘seizing’ 50% of savings over 100,000 euro. While the International Monetary Fund and the Eurozone quarrel over a possible Greek debt haircut and the debt/bailout program …

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The Eurogroup meets up on Monday in Brussels with Eurozone finance ministers expected to review individual bailout programs of Eurozone member countries. Greece will also be discussed even as its government is reportedly considering a proposal for a debt turnover Greek finance Minister Yiannis Stournaras will brief his counterparts about …

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International Monetary Fund wants new austerity measures worth 6.7 billion euro from Greece and thus until 2016. The IMF sees no primary surplus to be achieved for 2013 and furthermore that additional debt restructuring (haircut) will be requited.. According to IMF’s “Fiscal Monitor” report published on Wednesday, Greece is expected …

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We live in an illusion world… that things will get better, the debt volume will decrease, Greece will return to the markets, recession and unemployment will ease, that this and that… However the Greek Parliament Budget Office dropped a bomb today. It said that “debt restructuring is one-way street” and …

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Minutes of International Monetary Fund board meetings held in May 2010 and published by the Wall Street Journal on Tuesday have highlighted the concern of many country representatives that the Greek bailout was not sustainable. One of the key criticisms expressed during meetings held before Athens agreed its first bailout …

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Three times “Nein!” German Finance Minister Wolfgang Schaeuble ruled out a third bailout to Greece, any extension to the second bailout program and a possible second debt restructuring. German Finance Minister Wolfgang Schaeuble ruled out more financial help for Greece, saying the last bailout stretched international creditors to their limits. Schaeuble, …

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 As if the notorious and anonymous “EU-source” predicting and forecasting bad omens was not enough, two more “EU-Sources” popped up and all the three together told Reuters that Greece would need another debt-restructuring. However as the issue is too complicated there is no open discussion until now about this issue, the …

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 OUCH! Greece has to pay at least 35.5 million euro to its two main advisers helping the debt-ridden country with its Greek Bond swap (PSI) or in common English “debt restructuring”. Greek Finance Ministry saw itself obliged to reveal the payments, after daily Proto Thema  claimed on Tuesday, that Athens had …

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While Greece struggles in Brussels to convince its European partners of its good intentions, Portugal seems to follow the path of Greece. The IMF prescription programme didn’t help the Portuguese economy either. On Monday borrowing costs for Portugal rose to euro-era highs. The same happened with CDS that hit a record of …

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