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Tag Archives: fiscal

EU Commission: Fiscal policy recommendations for Greece

Greece continues to experience excessive imbalances but its vulnerabilities appear to be receding due to policy progress, according to fiscal policy recommendations given by the European Commission in the context of the European Semester. The European Commission recommends that Greece: Wind down the energy support measures in force by the …

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No fiscal space left in 2019 for more benefits, says BoG Stournaras

The governor of Bank of Greece Yannis Stournaras sounded warning bells over the current Tsipras government pre-election measures, saying there is no “fiscal space” this year for further benefits beyond those foreseen in the currently executed 2019 budget. The one-time finance minister, before 2015, again reinforced his reputation as a …

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PM Tsipras: “Not the end of the world if IMF doesn’t participate in Greek program”

“It is not the end of the world if the International Monetary Fund will not take part in the Greek program, Prime Minister Alexis Tsipras said on Monday. “Greece is at the end of a difficult course,”Tsipras said addressing the parliamentary group of SYRIZA. He added that the government will …

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Moscovici says “No more bailout agreement for Greece,” just post-program monitoring

“No more memoranda for Greece,” European Commissioner for Economic and Financial Affairs, Taxation and Customs, Pierre Moscovici said in an interview with the European Progressive Forum. “Greece will become, in economic terms, a normal European country once again.” Moscovisi stressed adding however, that “Greece’s economic policies will be monitored through the …

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German Chancellor Merkel stands by Greece and Tsipras

“This is not the place where decisions will be made,” German Chancellor Angela Merkel said during a joint press statement with Greek Prime Minister Alexis Tsipras in Berlin on Friday. “That matter is in good hands with the institutions and the Eurogroup.” In just few words, the German Chancellor rejected …

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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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Greece Able to Pay only Salaries & Pensions

Does the Greek state owe you money? You’d better forget about the payment – I hope for the time being… Then Greece apparently faces shortage of funds, the possibility of the 6th bailout tranche ( eight billion euro) is in the air, and national media reported recently that Greece has money until …

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Greece: Default or Not Default? Drachma or Euro? Dye or Cut?

The dilemmas on Greece’s debt future seem endless: Default or Not Default? Drachma or Euro? Haircut or Extensions? With terminologies borrowed  from a hairdresser parlor around the corner and a bankers’ desk on the 245th skyscraper floor, the whole world is keep talking about Greece’s fiscal course: Survive or Fall. Economists and media are …

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