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Tag Archives: loans

Greece plans early repayment of €8bn of bailout loans

Greece plans an early repayment of 8 billion euros of bailout loans to eurozone countries this year as the country’s economy rebounds from the previous decade’s debt crisis, two officials told Reuters on Wednesday. Greece regained its investment grade late last year after languishing for 13 years in the “junk” …

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Greece tables draft legislation expanding ‘Hercules’ program to reduce NPLs

The Greek government on Thursday tabled in Parliament a draft law seeking to further reduce non-performing loans in banks’ portfolios by expanding the “Hercules” program. The draft legislation envisages measures to introduce greater transparency, more information and respect of debtors’ rights for servicers, modernize an out-of-court mechanism and expand protection …

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Greek PM pledges to repay bailout loans 2 years in advance

Greece will repay its first bailout loans two years before schedule, Prime Minister Kyriakos Mitsotakis pledged on Bloomberg TV in Athens on Tuesday. In statements to the media outlet, Mitsotakis said Greece will be able to repay these loans by the current year’s end. This pledge for repayment ahead of …

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No primary residence is at risk of being auctioned, say servicers

Servicers operating in Greece reacted to criticism that following a ruling by the country’s Supreme Court they would begin auctioning of primary residences. In an announcement they said that their first priority was to find mutually accepted and sustainable solutions for the repayment of outstanding debt. Particularly for vulnerable households, …

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IMF: EU’s recovery fund must include substantial grants

A substantial part of the European Union’s package of measures to help the economy recover from the coronavirus pandemic must consist of grants rather than loans, the International Monetary Fund’s chief economist told German magazine Der Spiegel. “Otherwise it will not promote economic recovery,” Gita Gopinath was quoted as saying …

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IMF’s Lagarde positive on early loans repayment by Greece

Managing Director of International Monetary Fund Christine Lagarde is positive to the idea that Greece repays earlier part of its loans, state broadcaster ERT TV reported on Saturday following a meeting between Lagarde and Finance Minister Euclid Tsakalotos in Washington. the news comes just hours after reuters reported that Greece …

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Economic prosecutor asks charges against 115 for loans of ND and PASOK

The economic prosecutors in Athens have pressed felony charges against 115 people, party officials and bank executives, for the loans conservative New Democracy and socialist PASOK received during 2005-2011. The non-performing loans amount over 400 million euros for both parties and were handed out without sufficient collateral, the prosecutors have …

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Alt Health Minister records phone-call with BoG governor, leaks it to the press

Alternate Health Minister Pavlos Polakis has reportedly recorded a phone conversation with the governor of Bank of Greece, Yannis Stournaras, and leaked the content to a SYRIZA-friendly media outlet, Greek media report on Tuesday. In the focus of the conversation were the two “consumer loans” totaling €100,000 Polakis took from …

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“Greece wants to repay loans to ECB and IMF before maturity,” Tsakalotos says

Greece wants to repay loans to the International Monetary Fund and the European Central Bank before they mature, Finance Minister Euclid Tsakalotos said on Tuesday. The aim is to reduce debt serving cost, he added. The ECB holds Greek debt worth around 12 billion euros with an average maturity of …

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Piraeus Bank wins court case against New Democracy for outstanding debts

Piraeus Bank has won a lawsuit against Greece’s main opposition party New Democracy for loans that have not be repaid. A First Instance Court in Athens ruled on Tuesday in favor of the bank that could theoretically proceed with the confiscation deposits and assets of  the conservative party.Greece’ main opposition …

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ESM Regling says Greece could use “unused funds to repay loans to other creditors”

The head of the euro zone’s European Stability Mechanism (ESM) bailout fund told German economic newspaper Handelsblatt that Greece was making good progress with its reform drive. Klaus Regling added that “unused funds could be used to repay loans to other creditors.” Unused funds to repay loans to other creditors? …

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Former ATE Bank executives charged for loans without collateral and guarantees

Greece’s corruption prosecutor has brought criminal charges against 30 former executives of the now defunct Agricultural Bank of Greece (ATE) for approving loans over a 10-year period to construction company ATTIKAT as well as to a private citizen who did not meet the necessary requirements. The cost incurred by the …

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