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Tag Archives: EWG

What will happen if Greece abolishes the pension cuts despite creditors objections?

Greece insists that the austerity measure to further pension cuts as of 1. January 2019 is not necessary. Creditors try to avoid commenting on that, although the usual “Euro Sources Anonymous” claim that the euro finance ministers are against abolishing of the measure. “Greece’s budget 2019 will not include pension …

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Eurogroup Chief says “EWG gives green light to €5.7bn disbursement for Greece”

The Eurogroup Working Group (EWG) gave the green light on Friday for the disbursement of a 5.7-billion-euro loan sub-tranche to Greece, Eurogroup chief Mario Centeno said. He added that the bailout tranche will be released in the second half of March.     the statement was posted on Twitter by …

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The little Caesar of EWG, Thomas Wieser: Only SYRIZA really embraced bailout reforms

He couldn’t help and couldn’t hide his political schadenfreude over the left-wing government of Greece. The man who rejected any early attempt by SYRIZA for relaxed austerity measures, the outgoing chairman of the non-institutional Euro Working Group that has exercised his full non-authorized power to raise or drawn Greece,  the …

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Creditors make it clear: No debt relief for Greece before 2018

Creditors have cooled down Greece that has been awaiting for debt relief measures. “Greece has done its bit, now it wants debt relief,” Prime Minister Alexis Tsipras said on Thursday, two days after the agreement with creditors on additional measures 3.6 billion euros for 2019 and 2020. However, the country’s …

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Crucial program review negotiations end without agreement

The critical negotiations between Greece and the lenders aiming to conclude the second program review …concluded at 5:30 a.m. on Tuesday without agreement. Main issues that still remain open are the Labor and the Fiscal ones. There was some convergence in the fiscal issues, the gap decreased to 600 million …

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EWG Three prior actions left so that Greece can get €2.8bn bailout tranche at Eurogroup of 10/10/16

Greece has left three out of 15 prior actions that need to be fulfilled so that the debt-ridden country can receive the €2.8billion bailout tranche. According to the EuroWorkingGroup meeting on Thursday, Greece will need to meet these obligations before the Eurogroup meeting scheduled for October 10th 2016. Those three …

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EWG, Germany approve €7.5bn bailout tranche for Greece

All prior action demanded from Greece have been fulfilled. The Euro Working Group gave the green light for the disbursement of the €7.5billion bailout tranche form the European Stability Mechanism on Thursday evening. The Budget Committee of the German Bundestag approved the disbursement on Friday morning. According to Reuters, the …

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Greece – Creditors: €2bn bailout tranche & €10bn for banks recap must wait

For one more time creditors sent a clear message to Greece: first the new deal will have to pass through the Parliament. Only then they will turn on the faucet and let 2 billion bailout tranche and 10 billion for the bank recapitalization flow towards the Eurozone south. The Euro …

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IMF Report: Greece Will Miss Debt Target in 2020

What? Greece will miss it’s debt target? The austerity-hit and recession-ridden country will need more ‘reform’, that normally translates into ‘additional measures’? No problem. We, Greeks, are large and can give anything to our lenders. “Greek debt will be above the target of 120 percent of GDP in 2020, a …

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