Tag Archives: Olli Rehn

It’s official! What we thought and reported about back in 2010 and 2011 about why there was no haircut of Greek debt, it’s been now officially confirmed by EU commissioner Olli Rehn. “Greek debt did not undergo restructuring ( haircut ) in 2010,  in order to avoid contagion of the …

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OK. Here the deal between the Troika and the Greek governments of the last three years. Those fine gentlemen in Brussels (EU), in Washington (IMF) and Frankfurt (ECB) will decide how much my home is worth and they will tax it accordingly. Even though they have never neither visited my …

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Hurray! Our Lenders & Masters are pleased with us! Yes, us, the lazy and tax evading Greeks. Our Lenders & Masters are pleased with the progress we have made. Oh wait! EU Monetary affairs Commissioner Olli Rehn did not say that exactly. He said instead: “We are seeing encouraging signs …

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Troika here, EU there, Schaeuble & Merkel lead the dance.  In the middle the sustainability of Greece’ debt that does not decrease despite strict austerity measures and tax tsunamis. A third ‘rescue’ package is on the way. “Greece’s international lenders will step up their assessment next month of how the …

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The idea to bail-in banks with depositors’ money will soon be more than just an idea – or a “Cyprus template” as Eurogroup head Jeroen Dijsselbloem said two weeks ago. It will be decided through an EU directive, as economic affairs commissioner Olli Rehn announced on Saturday in a television …

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Nessa Childers, Member of the European Parliament from Ireland, called for Economic and Monetary Affairs Commissioner Olli Rehn to resign over the Cypriot bailout fiasco. For this reason, Childers wrote a letter to European Commission President Jose Barroso. In her letter dated March 19th, 2013, Childers writes: “Today I have …

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Well-known Greek economist Yanis Varoufakis attacked EU commissioner Olli Rehn, who refused a renegotiation of the Greek austerity program after the IMF officially admitted wrong calculations and false fiscal multipliers. “The mistake was done on purpose. It wasn’t an accounting error of the IMF, it was a political decision,” Varoufakis told …

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European Economic and Monetary Affairs Commissioner Olli Rehn put a stop to Greece’s expectations of a revision of the austerity program due to IMF’s miscalculations of fiscal multipliers. In a letter to ECOFIN ministers snet on 13. February 2013, Rehn wrote among others ““Recent studies on fiscal multipliers are of …

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Ha! Greece’s government assurances, the minimum wage would not be further reduced, have just been turned into multi-coloured confetti! EU Monetary and Finances Commissioner Olli Rehn admitted that minimum wage revision is planned for 2014. To a relevant question posed by MEP Nikos Chountis (SYRIZA) and Kostas Poupakis (Nea Dimocratia), …

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The austerity package that will bring financial disaster to millions of Greek households was apparently not enough for Greece’s lenders to give the green light for the release of the 31 billion euro bailout tranche. Of course, the budget 2013 has to be adopted by the Greek Parliament, as well. …

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 The representatives of Greece’s lenders, the so-called Troika, are leaving Athens, even though it seems that the negotiations on the spending savings package have not concluded yet. An EU Commission spokesman told reporters in Brussels, that the Troika “will be leaving this weekend and will return in about a week. the spokesman …

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Greeks should be proud! For the compliments made by EU Commissioner for Monetary Affairs, Olli Rehn. In an article he wrote for Wall Street Journal about the euro crisis, Olli Rehn wrote among others: “Over the last two years, Europe has made remarkable progress in addressing these imbalances. Consider the …

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“Greece’s participation in euro zone was a big mistake.” Instead of baking Easter cookies and paint some eggs, European Economic and Monetary Affairs Commissioner Olli Rehn made some EU soul searching and came to this thoughtful conclusion. Ten (whole) years after. “European decision makers need to be cautious and the euro zone …

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EU Commissioner for Economic and Monetary Affairs Olli Rehn told a Finnish radio that wages in the Greek private sector have not reduced by as much as Greece’s lenders consider to be enough to improve what they call ‘competitiveness’.  Rehn’s statement comes the day the bill concerning the minimum wages …

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This must be a joke. A bad joke. In fact, a very bad joke. Recession in Greece will lead within the EU with a massive 4.4 percent decline is the prediction of the EU Commission for 2012. This grim forecast comes just a few days after the new bailout was signed with the …

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Greek political parties need to provide clear commitments before a second bailout can be offered to the country, Olli Rehn, European Commissioner in charge of economic and monetary affairs, told reporters Tuesday.    O. Rehn Gazing at  the Greek Commitment “The political party leaders are expected to commit to the …

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When I woke up this morning I was feeling fine. Fine? On the fifth day of fierce negotiations, scenarios, rumors and turnarounds, nothing had changed in Greece. George Papandreou isstill the prime minister – at least typically. Now a new PM name makes the round: Vassilis Skouris, President of the Court …

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Europeans send reassuring messages just hours before the critical teleconference between Papandreou, Merkel and Sarkozy and hours after  Kassandra’s bombshells heralding Greek default and pushing for exit from the euro zone.   EU economic and monetary affairs Commissioner Olli Rehn said on Wednesday morning: “A Greek default or euro exit would carry …

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