Tag Archives: EFSF

The European Stability Mechanism and the European financial Stability Facility approved the Greek request for partial early repayment of the International Monetary Fund. The EMS issued a statement on Monday: The Boards of Directors of the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF) agreed today to waive …

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The European financial Stability Facility EFSF approved on Thursday the reimbursement of 103 million euros to Greece as well as the transfer of amounts equivalent to the income earned on SMP/ANFA holdings, amounting to €644.42 million. At the same time, the EFSF decided the reduction to zero of the 2% …

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The eurozone’s rescue fund, Greece’s largest creditor, said on Friday it reserved the right to call in 130.9 billion euros in debt ahead of schedule after Athens defaulted this week on an International Monetary Fund loan. The board of the European Financial Stability Facility decided to reserve its rights to …

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A crucial – the most crucial – meeting between Greece and its creditors is taking place Sunday afternoon in Brussels. Greek delegates are to meet the representatives of the three Institutions IMF, EU, and  the EFSF for a so-called “final effort” to reach an agreement on the Greek debt problem. …

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Applaud! Excellent Idea! Former ruling and coalition government partner, Socialist PASOK proposes that all responsible for the two Memorandum of Understanding (Loan Agreements) and the Greek Bond swap (PSI) should testify in front of the parliamentary committee investigating the conditions and implementations of the agreements with the lenders. In a …

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Grrece’s economic team writes and erases “structural reforms” and prepares the list the government is obliged to submit to the Institutions by Friday. Well… not exactly Friday. Make it Monday, March 3oth. At the same time, the country’s lenders increase the pressure in the usual stick & carrot manner maintaining …

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Eurogroup chief Jeroen Dijsselbloem has reportedly wrote to European Financial Stability Fund chief Klaus Regling and Euro Working Group chief Thomas Wiser urgently examine the Greek request for return of €1.2 billion, Greek media report on Tuesday. The amount was sent by the FSF by mistake to the temporary rescue …

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Below are some details from the official request Greece sent to Eurogroup Thursday morning asking for a 6-month extension of the loan agreement signed between Greece and the European Financial Stability Fund (EFSF) from December 2012. The Greek side wants also a Bridge-Agreement of 6-months, measures to tackle the humanitarian …

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Eurogroup Chairman Dijsselbloem said that Greece must apply for a bailout extension on February 16 at the latest in order to keep its eurozone financial backing. The February 16th meeting would be Greece’s last chance to apply for the bailout extension because some euro zone countries will need any agreement …

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The economic occupation of Greece is getting …better and more obvious. The Troika, the European Union and the European Stability Mechanism (ESM) have big plans concerning the real estate assets currently managed by the Greek Privatization Fund (TAIPED). According to newspaper Proto Thema that grabbed the confidential report prepared by …

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What a disgrace for the euro zone and the European Union leaders! Two of it 17 members, Spain and Cyprus, submitted bailout requests within a single day.  Spain formally asked banking aid of at least 100 billion euro n Monday morning. In the afternoon Cyprus became the last EZ member to …

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Panicked by the perspective of an anti-bailout left government in Greece that could set a bad example for other bailout countries and folks, Greece’s lenders use all means to increase pressure and tame future prime ministers and voters. Instead of releasing the full May-tranche amounting 5.2 billion euro, the EFSF  released only 4.2 billion …

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For some stupid reason I had to laugh when I read the news that rating agency Standard & Poor’s downgraded the European Financial Stability Fund (EFSF), the rescue and bailout fund of the euro zone. It blew in my mind a mixture of the “Vacuum Cleaner Beast” and the “Nowhere man” …

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German parliamentarians on Thursday approved the planned expansion of the European Financial Stability Facility (EFSF) with 523 voting in favor, 85 against and three abstentions. The bill’s passage is a vital hurdle in euro-zone efforts to increase the fund’s lending capacity from its current €250 billion ($338 billion) to €440 …

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Remember the lyrics from the Beatles’ song Yellow Submarine? There is a line “And the band begins to play” followed by trumpets playing “PrAMPrAMPrAM-PrAM!”  That was in the late 60’s but associative thinking to today’s world make songs like that a ‘classic’. Because they are diachronic.  The Beatles have fallen …

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Greece had one year time to return to the markets, otherwise it would  need a new aid package from the IMF/EU/ECB-Troika. This is the message prime minister George Papandreou has reportedly conveyed to German Chancellor Angela Merkel during their talks last Tuesday in Berlin, according to Sunday newspaper To Vima.  “If you don’t …

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