Tagged: debt

ESM prepares to ease Greek national debt

The European Stability Mechanism (ESM) is set to implement short-term measures to ease Greece’s national debt by the end of January, as agreed at a December 5 Eurogroup meeting. To this end, the ESM will borrow more funds from the markets than originally planned. The revised plan for long-term bond issues within 2017 provides for […]

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 […]

Tsipras: “Our creditors must fulfill their commitments on debt”

“The Mediterranean, besides a common place of cultures and religions, is an area of shared experiences. We are communities with distinct characteristics” argued Prime Minister Alexis Tsipras at the annual Euromed Summit, adding that “we therefore have a common interest to work together to promote joint initiatives and priorities at a European level”. During his […]

IMF calls for more pension cuts, greater debt relief in report

The International Monetary Fund called for Greece to cut pensions and taxes and for its lenders to provide significant debt relief in order for the country to make a convincing exit from the crisis. In its annual report on the Greek economy, following so-called Article Four consultations in Athens, the Fund described the country’s pension […]

Debt relief deal should help Greece access debt markets ‘within next year’

Greece wants a debt relief deal which will help the country access debt markets in 2017 and allow for sustainable primary budget surpluses, the country’s deputy prime minister said in a newspaper interview released on Saturday. Greece and its lenders started talks on long-desired debt relief earlier this week as part of a bailout review […]

Schulz underlines the need for Greek debt relief

The President of the European Parliament Martin Schulz argued that Greece needs debt relief and that the solution cannot be further wage and pension cuts, in an interview for Global Conversation on Euronews. In his interview Mr. Schulz noted that debt relief was discussed for the first time at the Eurogroup on Monday and argued […]

Berlin: Greek reforms must be reviewed before any debt restructure

A batch of Greek economic reforms must be reviewed by euro zone finance ministers before any additional debt relief can be decided on, German government spokesman Steffen Seibert said Monday. Seibert said there was a clear process for determining further steps, including a review of the program of austerity measures, and that process was still […]

Migrant Crisis Alters E.U. Calculations for Greece as Its Debt Struggle Continues

When Greece’s debt crisis threatened to sink the European Union’s single currency last summer, the rest of Europe, led by Chancellor Angela Merkel of Germany, ganged up to deliver the Greek government a stern message: Overcome your domestic political problems and do what is necessary to hold the Continent together. Eight months after Greece agreed […]

State debt to private sector up slightly in Sept‏

Greek state’s debt to the private sector grew slightly to 5.147 billion euros in September, from 5.120 billion in August, official figures showed on Tuesday. According to a report on the general government’s data, pending tax returns totaled 807 million euros in September from 809 million in August. From the total 5.147 billion euros of […]