Tag Archives: haircut

A video isolated from the plethora of footage posted on internet in the last two days, proves that the attack at the mayor of Thessaloniki, Yiannis Boutaris, was well organized and had little to do with “a spontaneous action by indignant citizens” angry about Boutaris’ statements, the economic situation in …

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There will be Greek debt relief in 2018 but they will use another name for it, top German economist and  chairman of the German Institute for Economic Research (DIW), Marcel Fratzscher said in an interview to jungundnaiv.de, a German website that approaches political and economic issues in a relaxed, alternative …

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Managing Director of International Monetary Fund, Christine Lagarde, said that “Greece doesn’t need debt haircut for the time being,” right after the meeting with German Chancellor Angela Merkel in Berlin on Wednesday. What needed is “debt restructuring and interest rate cuts on bailout loans.” Stressing the need of reforms, Lagarde …

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He maybe felt alone at the Eurorogroup meeting on Monday and remained silent in a rare move to not spoil the fun. But he could not keep himself under control for long time. German Finance Minister Wolfgang Schaeuble said on Tuesday evening that he sees no reason for a real …

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When is the future “foreseeable”? What is the time span in which we can claim we can ‘foresee’ the future? The governor of Bank of Greece, Giorgos Provopoulos, said that there is no way for bank deposits to undergo a haircut in the foreseeable future.” Speaking with representatives of bank …

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The times when state bonds underwent haircut or ‘debt restructuring’ to easy the national debts seem to be over. Cyprus showed the way with ‘seizing’ 50% of savings over 100,000 euro. While the International Monetary Fund and the Eurozone quarrel over a possible Greek debt haircut and the debt/bailout program …

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The Eurogroup meets up on Monday in Brussels with Eurozone finance ministers expected to review individual bailout programs of Eurozone member countries. Greece will also be discussed even as its government is reportedly considering a proposal for a debt turnover Greek finance Minister Yiannis Stournaras will brief his counterparts about …

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SSSS-U-rrr-P-R-I-S-E! Greek deputy finance minister Christos Staikouras admitted that “the Greek debt is not sustainable and its relief will require negotiation.” In an interview to weekly Parapolitika, Staikouras said: “The public debt has been gaining strong increasing dynamics, whether in absolute levels or in relation to GDP, the debt is …

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“We found a priest, let’s bury five to six.” That’s a Greek expression pointing to chances that shouldn’t be missed. Like in case of idiots, who are willing to take one bailout after the other. The Greek government. And the Troika willing to load Greeks with loads of loans that …

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“Greece must stop lobbying for a second restructuring of its debt,” German Finance Minister Wolfgang Schaeuble warned on Thursday, saying that “this was not in the country’s best interests.”. Speaking at an event organized by the Greek-German Chamber of Commerce in Athens Hilton, Scaheuble advised Greeks “My advice is not …

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Two bailout agreements, total aid of 240 billion euro,  and one bonds’ ‘haircut’ later…. Greek public debt remains as high as it was in 2010 – the year in which Greece sought the ‘rescue’ by the International Monetary Fund. In the end of first quarter of 2013, the total debt …

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Greek government spokesman Simos Kedikoglou rushed Monday morning to calm down depositors, concerned about their money in accounts of National Bank and Eurobank after the merger was called off. “Deposits are safe, the banking sector is shielded,” Kedikoglou told a private television channel. Short time later, EU Commission felt also …

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When five Sunday newspapers speak about the safety of savers’ deposits  in their front pages, I think, it’s time we should start make thoughts about “how secured are deposits in Greece?” The Cyprus example might be “a template”, after all, as eurogroup head Jeroen Dijsselbloem recently said. Deposits in Greek …

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Crisis of any kind can be eventually very inspiring. How much more when it comes to money and “poetic’ economic terminology like ‘haircut’.  OK, president Nicos Anastasiades may be not solely responsible for the crisis as he came to office end of February. But his negotiation skills with the Troika could …

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Some reports and many rumors on internet claim that there is a broader plan to impose bank deposits levies also in other countries, irrespectively of whether these countries will seek a bailout or not. Depositors funds could be used to bail out banks, so to say. Are you afraid that …

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The cabinet on Cyprus agreed on a “Plan B” on Wednesday night, local media reported. President Nicos Anastasiades will present the “Plan B” for the country’s banks bailout to political leaders on Thursday morning. Local reports suggested the government may submit a bill tomorrow proposing a haircut on deposits but at lower …

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A grandmother, resident of Paphos in Cyrpus, had recently developed a habit: every Friday, she would go to a bank branch and withdraw all her savings. On Monday, she would bring it back. After this happened on several weekends, the bank employees could not resist and asked the granny why she …

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Leader of main opposition party and chairman of left-wing SYRIZA, Alexis Tsipras, wants early elections in order to negotiate the loan agreement between Greece and its lenders and a new ‘haircut’. Speaking to state broadcaster NET TV, Tsipras declared, “the loan agreement is already dead” and “it needs to be …

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The impossible seems possible: Alexis Tsipras, leader of Greek main opposition party left-wing SYRIZA and the International Monetary Fund seem to have agreed that the Greek austerity program cannot succeed and therefore a new debt haircut is inevitable. After meeting with IMF officials in Washington, Tsipras told reporters that “cutting …

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New austerity measures, new haircuts, grim predictions for the near future, debt unsustainability but also bold intervention in the internal political affairs of the country recorded in the latest Greek program review released by the International Monetary Fund on Friday. Greece is recovering but debt is not sustainable, International Monetary Fund …

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