Tag Archives: EWG

The EuroWorking Group meeting on Monday ended without Greece and creditors to have reached an agreement on the protection of debtor’s primary residence. Without the deal, the disbursement of almost one billion euros was therefore not approved. Athens had announced last week to submit the bill of the residence protection …

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The Euro Working Group has reportedly given the green light to Greece to scrap implementation of further pension cuts as of 1. January 2019. Citing a well-informed source, state news agency amna reported Thursday afternoon that the heads of the eurozone finance ministries were “warmly positive” about the Greek budget …

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The representatives of the Finance Ministries of the eurozone countries appeared positive on the non-implementation of the pension cuts measures in Greece during Thursday’s meeting of the Euro Working Group, state news agency amna reports. The Greek side briefed the EWG on its intention not to proceed with the further …

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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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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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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 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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Media quoting Greek government sources report Thursday afternoon that there will be an extraordinary Eurogroup meeting in the fist ten days of May in order to conclude the second review of the current Greek program. “This is the creditor’s commitment,” the sources said adding that the staff-level agreement will be …

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Creditors have demanded from Greece a written pledge that the Christmas bonus for low-pensioners is a one-off payment and not a “13th pension.” The Euro Working Group that was supposed to find out whether the Christmas bonus was compatible with the ‘third bailout agreement’ could not take an unanimous decision …

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German Finance Minister Wolfgang Schaeuble did not miss the chance for a last minute intervention aiming to influence the Euro Working Group meeting today to evaluate whether the Christmas bonus for low-pensioners is compatible with the creditors’ commandments. The German Finance Minister warned that such measures as the Chrsitmas bonus …

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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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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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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 can expect a total of 10.7- 11 billion euro as a bailout tranche if it successfully concludes the Program Review and reaches an agreement at the next Eurogroup on May 24th with regards to IMF’s contingency measures. According to Greek media reporting from Brussels: the disbursement of the 3. …

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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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Greece’s Prime Minister Alexis Tsipras did not have time to join the Athens Marathon today Sunday. He stayed in his office instead and started calling around: European Commission President Jean-Claude Juncker, French President Francois Hollande, German Chancellor Angela Merkel. Top on the agenda: the release of  the 2 billion bailout …

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€Deadlock with creditors. The 2-billion euro bailout tranche is a risk. The Euro Working Group that was supposed to meet today and prepare the ground for the tranche release on Monday by the esteemed members of the Eurogroup decided otherwise. The EWG members preferred a long weekend than to deal …

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In a document submitted to the EuroWorkingGroup with the German positions, Berlin describes the Greek loan agreement extension request as “Trojan Horse” – to start with. And then, it has the boldness to dictate three main commandments to Greece, some of them copy-pasted from  Dijsselbloem’s draft at the Eurogroup meeting …

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Greece sent its request about an extension of the loan agreement on Tuesday morning. Speaking to Skai TV, Labor Minister Panos Skourletis said that “the request refers to extension of the loan agreement” and not of the “current bailout program.” According to Greek media, the Greek request refers to a …

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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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