Tag Archives: Greek debt

Chief economist at the European Stability Mechanism Rolf Strauch said in an analysis that that the pandemic may have led to an increase in the Greek national debt and the long-term risks, but the country is not going through another debt crisis. In his analysis, Strauch explained that Greek and …

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Greece’s debt stock will remain very high for a long time, but debt sustainability is underpinned by several mitigating factors, Fitch Ratings said in a new report on Monday. Greece’s general government debt to GDP rose to 207% of GDP at end-2020 from 181% in 2019 as a result of …

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Every once in a while a German tourist pops up in Greece seeking fun without paying, claiming Greeks owe to German taxpayers. Media in Crete report of a German woman who refused to pay for a taxi ride claiming “You owe us money, anyway.” The woman needed a ride from …

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“If we had a Greek Macron, we would jump right now,”  in the Greek program, an official of International Monetary Fund told US network CNBC. The IMF official referred to the new French president Emmanuel Macron whose focus is the thorough reform of French economy. Speaking on conditions of anonymity, …

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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 self-proclaimed billionaire and now fugitive Artemis Sorras has been charged with fraud and running a criminal organization. The office of prosecutor in Athens published a long list of charges against Artemis Sorras and seven of his close associates on Tuesday. The list of charges reportedly contain “half of the …

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Is the Greek debt sustainable or not? Opinions and approaches differ. The International Monetary Fund insists that the Greek debt is not sustainable, the Eurozone’s Fund European Stability Mechanism insists that the Greek debt is sustainable. Greece has three weeks to deal with ‘potentially disastrous’ debt, the IMF said adding …

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The Greek government believes that the second review of Greece’s program has concluded in theory but not in practice due to the controversial issue of the participation of the International Monetary Fund (IMF) in the program. No groundbreaking results are expected in the Eurogroup meeting that takes place later today, …

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Confidential proposals drawn up by the eurozone’s bailout fund European Stability Mechanism could reduce Greece’s debt load by about a fifth in 2060. The six -page document, dated November 25th 2016, outlines measures that that could be taken in the near future to reduce Greece’s large debt load. According to …

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A solution for the Greek Debt is in the interest of the eurozone, chief of the European Central Bank, Mario Draghi said on Monday, speaking at the Economic and Monetary Committee of the European Parliament. Answering a question posed by Giorgos Kyrtsos, MEP of conservative New Democracy, Draghi stressed  that …

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Debt Relief? What Debt Relief? There is no problem with Greece’s debt. Head of Erupean Stability Mechanism, German Klaus Regling side with German Finance Minister Wolfgang Schaeuble and said very clear: There will be no problem with the Greek debt for at least a decade. “In the short-term, there’s no …

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Prime Minister Alexisd Tsipras is launching a Debt Relief Tour to convince EU lenders and key players about the necessity of a debt relief. At the same time, he is in continuous contact with US officials who have access to IMF’s Managing Director Christine Lagarde. According to daily Ta Nea, …

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The transfer of two German tourists from a hotel in Agia Pelagia to Heraklion airport  ended up in the local police station. When the taxi driver stopped at the airport, the tourists refused to pay the fare of 40 euro arguing that …Greece owes money to Germany! The passengers initially …

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It is certainly a revolutionary proposal that expected to raise sharp criticism in Germany. Managing Director of the European Stability Fund Klaus Regling has reportedly brought a controversial 2-page proposal to the Eurogroup meeting on Monday. In his proposal, Regling offers that the ESM buy part of Greek debt to …

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Prime Minister Alexis Tsipras wants a debt relief. The International Monetary Fund wants the same. Both consider Greece’s debt as unsustainable. But the country’s European partners, the country’s biggest lenders do not want to hear about such option. At least not now. According to Eurogroup head Jeroen Dijsselbloem, Greece may …

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With an overwhelming majority the German Parliament (Bundestag) approved the 3. bailout aid for Greece. 454 German lawmakers voted in favor of the bailout, 113 against and there were 18 abstentions. Finance Minister Wolfgang Schaeuble defended the 3. bailout for Greece telling his colleagues among others: – It would be …

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If creditors EU, ECB and IMF are up to a Greek default… “Be my guest!” so to say. English- and German speaking media have been publishing charts and info and calculations and estimations about how much a Greek bankruptcy will cost to the eurozone countries and each one of the …

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The rumor and speculation mill is working overtime as usual when negotiations between Greece and its creditors are at a crucial point. After Prime Minister Alexis Tsipras revealed that Greece sent a draft plan to the Troika-Institutions on Monday night, national and international media started to upload on their websites …

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After two bailouts and one debt restructure, Greece’s debt is still exorbitantly high and the country will need another 42 years to pay back what it owes to its lenders, provided that no new debt will be added, not extra interest rates will be added up in case of inability …

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Friendly and warm atmosphere.  Greek Prime Minister Alexis Tsipras is holding a meeting with President of European Commission Jean-Claude Juncker in Brussels on Wednesday morning. In a gesture of  failed symbolism, veteran Jean-Claude took young PM Alexis by the hand and off they walked to the EC sanctuary.  Hand in …

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