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Tag Archives: Olli Rehn

Olli Rehn: Greek haircut did not happen in 2010 in order to save European banks and EU member states

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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EU Task Force report: Rehn, Reichenbach & the other kids are pleased with Greece

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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Olli Rehn: Troika to evaluate Greece’s debt sustainability in September

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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Irish MEP calls Olli Rehn to resign over Cyprus bailout fiasco

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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Olli Rehn rejects renegotiation on Greek program due to IMF miscalculations

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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‘Austerity Bill Not Enough for Bailout Tranche’, Say German FinMin & EU Commission

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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EU Commission: A Week Long Time-Out For Greek Bailout Talks

 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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Olli Rehn: Greece Has Achieved More Than Is Often Realized

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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Rehn: Greece Joining the Euro in 2001 was a Big Mistake

“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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Olli Rehn: Greece’s Political Parties Need To Write Commitment For 2nd Bailout

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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Greece’s New Gov’t: Hey, Captains? They said WOT?

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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EU Under TinFoilHat-Protection: No Greek Default, No Euro Exit

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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