Tag Archives: Troika

A clear and cynical confession by the German Foreign Minister Heiko Mass: The strict austerity imposed in Greece, for example, during the economic crisis and the Troika were “torture tools.” In an interview with magazine der spiegel, Maas spoke about tackling the crisis created by the pandemic and said that …

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The Hellenic Confederation of Commerce and Entrepreneurship (ESEE) announced it will launch a strike on Sunday, May 7, to protest legislation that will increase the number of Sundays that retail outlets are allowed to operate during the year. Opening shops 30 Sundays per year is included in the deal Greece …

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Shops in Greece will be open 30 Sundays per year and not just eight as it became custom in the last years of bailout agreements. However, professional associations of workers and employers react to the measure claiming the big stores will swallow the small ones. Shops will be open in …

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Head of Eurogroup, Jeroen Dijsselbloem decided to launch a revolution. In an interview to a German conservative newspaper, he called on the end of the EU Troika and the mutation of the European Stability fund into a European IMF. Behind Dijsselbloem’s proposal stands the powerful German Finance Minister Wolfgang Schaeuble …

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Representatives of Greece’s creditors returned to Athens and they resume talks in an effort to reach an agreement on technical level (staff level agreement) and conclude the second review in no longer than two weeks. According to Athens News Agency, the European side but also the International Monetary Fund consider …

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I have been wondering whether the new Troika which is a Quartet should be called “The Creditors’ Quartet” or “The Troika Four” or just “Greece’s creditors”. The new combo of representatives from European Commission, International Monetary Fund, European Central Bank and European Stability Mechanism definitely news a new short description, …

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Greece has submitted an official request to the International Monetary Fund for a new loan as it seeks a huge third bailout from its creditors, the finance ministry said. “We would like to inform you that we are seeking a new loan facility from the International Monetary Fund,” Finance Minister …

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Greece’s top administrative Court Council of State ruled out on Wednesday that the pension cuts of 2012 imposed by the Troika were against the Constitution. The court ruling followed a massive litigation by individual pensioners and pensioners’ associations from the country’s private sector. The Council of State ruled that the …

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Veteran Politician and resistance fighter, Manolis Glezos, with 92 years the oldest member of the European Parliament called on Greeks to take to the streets and stage protests against the “economic asphyxiation” imposed by Greece’s creditors. And to say “NO to loan sharks” of the Troika-Institutions. At the same time, …

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German state broadcaster ARD aired a documentary that shocked many conservatives, neoliberals and hardliners accord the German country. The documentary with the title “The trail of the Troika – Power without Control” , a documentary produced by RBB from network ARTE showed to Germans a different approach to the Greek …

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OK, there is no Troika, there is no Memorandum. Negotiations between Greece and its European partners started first of all with some compromise on pure linguistic level. “Did you hear Juncker mentioning the Memorandum?, ” Greek Prime Minister Alexis Tsipras told journalists during his press conference last night in Brussels …

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Seven out of ten Greeks support Prime Minister Alexis Tsipras the way he deals with the country’s lenders, the Troika. According to a poll conducted by the University of Macedonia, the majority of the respondents believe that the PM is determined to implement his pre-elections commitments and that the Greece-Troika …

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This is pure and blatant blackmail and came without a warning! The European Central Bank decided to stop accepting Greek bonds as collateral for granting liquidity as of February 11th 2016. Greek banks can still receive emergency funding from Greek Central Bank via Emergency Liquidity Assistance, a statement said. ECB …

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European Commission President Jean-Claude Juncker and EU Commissioner for Economic and Financial Affairs Pierre Moscovici signaled that they want to scrap the Troika, the representatives of International Monetary Fund, The European Union and the European Central Bank, dealing with the Greek bailout programs, the austerity time table and the so-called …

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Greek Finance Minister Yanis Varoufakis met his French counterpart Michel Sapin in Paris. After the bilateral talks, the two men held a joint press conference. The Greek was adamant in his positions: he said that:  a new debt deal was needed within months and reiterated that he would not negotiate …

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U.S. President Barack Obama made a sound intervention in what it seems to be in favor of  Greece’s positions “development vs austerity”, saying  that you cannot keep squeezing countries in recession and that there should be a development strategy so that these countries can pay back their loans. Speaking to …

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The joint press conference was concluding, when Greek Finance Minister Yanis Varoufakis droped a last bombshell.  “…and with this if you want – and according to European Parliament – flimsily-constructed committee we have no aim to cooperate. Thank you.” Varoufakis was referring to the famous Troika, the country’s official creditors …

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I don’t know what the two finance ministers said behind closed doors, but the press conference run wild.  Yanis Varoufakis was very clear: “Greek government will not negotiate with the Troika, only with official parters” he said during a joint press conference with the head of Eurogroup Jeroen Dijsselbloem in …

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Let’s put two things clear right away: Greece’s SYRIZA-led coalition government insists on debt-restructuring,  negotiations with the country’s creditors and a “new European deal” in general. In contrast, Greece’ creditors, mainly the European Union with the lead of Germany warn the Greek government that it should forget debt-restructuring and it …

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The eurozone has ruled out debt forgiveness for Greece and warned Alexis Tsipras that his anti-austerity coalition government must honor all past agreements with international creditors. In a meeting of eurozone finance ministers in Brussels on Monday, a day after left-wing SYRIZA won the parliamentary elections, the euro bosses warned …

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