Tagged: bailout

Bailout monitors unlikely to return to Athens after Eurogroup, official says

The chances of representatives of Greece’s international creditors returning to Athens after Monday’s Eurogroup meeting to resume bailout talks are very slim, a European official told Kathimerini, noting that little progress had been achieved in a series of teleconference calls over the weekend. First the two sides must agree in principle on basic issues that […]

ELA trend reversed on bailout worries

Emergency central bank funding to Greek lenders rose by 300 million euros, or 0.7 percent, in February compared to the previous month, Bank of Greece data showed on Monday. Emergency funding, which is more costly than borrowing from the European Central Bank, increased to 43.1 billion euros at the end of February from 42.8 billion […]

Greek bailout program would end if IMF pulled out, Schaeuble says

Germany believes the International Monetary Fund (IMF) will remain on board with Greece’s bailout, a finance ministry spokesman reiterated on Monday, but said that a IMF decision to pull out would mean the end of the current program. Finance Minister Wolfgang Schaeuble has already made clear that if the IMF were not to participate, “then […]

Bailout deal not likely till January, EU official says

Government officials are gearing up for a long-awaited summit of eurozone finance ministers on Monday where the prospects for Greek debt relief are expected to be discussed, but a European official has told Kathimerini that it is more likely a concrete solution will be hashed out in January. According to the official, Athens can expect […]

Stournaras: “The bailout review must conclude by the end of 2016”

The Governor of the Bank of Greece Yannis Stournaras underlined that Greece can achieve a 2% primary budget surplus percent next year, warning that the main risk for the economy would be a failure to conclude a crucial bailout review. From the stand of the American-Hellenic Chamber of Commerce’s annual conference on the Greek economy […]

Bailout review needs a debt agreement, eurozone official says

The second bailout review is unlikely to conclude without an agreement on a Greek debt settlement that would satisfy the International Monetary Fund, a senior eurozone official said on Friday. However, he added that, despite the expected difficulties, he was optimistic that a deal could be reached within 2016. “I am convinced it is possible […]

Preparations for the second bailout review set to begin

The technical teams of Greece’s creditors and partners are currently in Athens, with the head of European Commission’s mission to Greece Declan Costello Declan Costello, the ECB’s Francesco Drudi, the ESM’s Nicola Giammarioli and IMF’s Delia Velculescu expected by the end of the week. The Greek government’s aim to complete the second bailout review by […]

Measures to be taken in August ahead of the second bailout review

Thousands of pensioners, who earn more than 1,300 euros per months, will see their supplementary pensions slashed in August, between 3% and 30%. This measure was included in the recent pension system reform and must be implemented immediately, as it is on the list of prior actions that are necessary in order to complete the […]

IMF reiterates call for a significant reduction of Greece’s public debt

The ECB chief is expected to call for the swift conclusion of the bailout review, so that talks on debt relief may begin. The Greek side aims to have its government bonds accepted in the ECB’s quantitative easing (QE) program as soon as possible. The overall goal is for Greek banks to not be reliant […]

Bailout review process may be delayed

It appears that the representatives of Greece’s creditors may not arrive in Athens on Monday after all as they have just requested additional data on the 2016 state budget, making it rather unlikely that Finance Minister Euclid Tsakalotos’s statement this week that the review will be concluded “within four weeks,” or by the end of […]

Tsipras and Merkel discuss refugee crisis on EU summit sidelines

The Prime Minister of Greece Alexis Tsipras met with Germany’s Chancellor Angela Merkel on Friday morning, ahead of the formal start to the EU summit held in Brussels. A meeting with French President Francois Holland is also expected to take place later on in the day. According to reports, the two leaders mainly discussed the […]