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Tag Archives: primary surplus

Monster Midterm Plan 2018-2021 in Greek Parliament, austerity €4.9billion

The omnibus bill and midterm plan for 2018-2021 has been submitted to the Greek Parliament. The relevant parliamentary committees are to examine 941 pages containing measures for fiscal targets and so-called reforms, the mid-term fiscal strategy framework and other provisions, before the plenary will vote it on Thursday, May 18 …

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IMF warns no Greek deal without a ‘credible strategy on debt sustainability’

The International Monetary Fund’s discussions on Greece’s debt are ongoing and no deal has been reached, IMF spokesman William Murray said on Thursday. At the same time, Murray warned that there will be no Greek deal without a credible strategy on the Greek debt and that the Fund will not …

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Schaeuble sees no Greek deal before primary surplus dispute with IMF solved

Deal or half deal? Success or partial success? The Greek government reported of a deal with creditors on Thursday morning, of a preliminary technical deal and stressed that negotiations on debt relief could start. A few hours later, the German finance ministry forced Greeks back to earth, to an emergency …

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ELSTAT: Greece’s primary surplus reaches 3.9% of GDP in 2016

Greece improved its public finances last year, achieving a general government primary surplus of 0.7 percent of gross domestic product compared to a 5.9 percent of GDP deficit in 2015, the country’s statistics agency ELSTAT said on Friday. “The surplus of General Government for 2016, in accordance with ESA 2010, …

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Greek gov’t says no additional measures for 2018, after IMF publishes Fiscal Monitor

With its forecast report the International Monetary Fund set the base for a new negotiation between the Fund and Greece’s  European lenders, that is Berlin. In its Fiscal Monitor 2017, the IMF forecasts for Greece a gap of 2.7 billion euros for 2018. The fund estimates that the primary surplus …

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Lagarde: IMF participation only if Greece’s debt is sustainable

The International Monetary Fund participate in the Greek program only if the country’s debt is judged as sustainable, the Fund’s managing director Christine Lagarde said in an interview to representatives of leading European newspapers. Additionally, she said talks over the Greek debt must first be completed before the IMF decides …

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PM Tsipras: Greece returns to Growth

A very optimistic Greek Prime Minister appeared before high-ranking officials from Arab states and representatives of ten chambers of commerce, fifteen investments funds, forty companies and financial institutions from the Arab world. Speaking at the first “EU-Arab World Summit-Partners for Growth and Development” in Athens on Thursday, Alexis Tsipras said …

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BoG Monetary Policy Report: High Taxation has recessional effects

In its Monetary Policy Report 2015-2016, the Bank of Greece urges for overhauling of the bailout agreement with 20-year extension of the loans, lower the Primary surplus target to 2%.  The report describes the high taxation as “recessionary” and calls for a shift of policy focus towards reforms and privatizations, …

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Greek Parliament budget office: primary surplus targets are much too optimistic

“Primary surplus targets are much too optimistic,” says the budget office of the Greek Parliament with reference to the mid-term economic plan issued last week. In the report released on Friday, the budget office urges the ‘downwards revision of the primary surplus targets” and “the discussion on debt relief to …

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Greek debt scenarios: “Great stretch” or “time to default”?

Hardly has Greece managed to return to the international markets and several scenarios started to circulate again about the future of the Greek debt. One of the scenarios claims that the solution would be is a great stretch of another 20 years for the pay back of the bailout loans. …

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