Tagged: stathakis

Legislation on bad loans is the result of negotiations, Economy Min Stathakis says

“The legislation on bad loans is the result of negotiations,” Economy Minister Giorgos Stathakis said in statements to ANT1 TV on Tuesday (27/09/2016). “We discussed all possible tools and the possibility for loan holders to purchase their loan at the same price as the funds, but the creditors rejected the proposal,” he added. Stathakis noted […]

Govt denies it relinquished right of borrowers to buyoff loan before distress funds sale

The latest political furor that erupted in the country over the weekend involved the pressing issue of non-performing loans (NPLs), with the government rejecting sharp criticism that it relinquished the option of a borrower buying off the entirety or a portion of their loan before the latter is sold to a distress fund. Economy Minister […]

Stathakis: Bailout review to be completed by end of September

Economy Minister Giorgos Stathakis believes that a review of Greece’s international bailout will be completed by the end of September. In comments made on Skai TV on Tuesday, the leftist minister said he expected the disbursement of a 2,8-billion-euro tranche to take place by mid October. Stathakis also appeared upbeat on the course of the […]

Tsakalotos-Stathakis-Skourletis in talks with the institutions

The talks between the government and the institutions, over the 15 prior actions remaining from the first bailout review – continue on Tuesday, starting with a meeting including the Ministers of Finance Euclid Tsakalotos and Economy Giorgos Stathakis at 11:00 and continuing with the Minister of Energy Panos Skourletis at 11:30 on Tuesday morning. The […]

Stathakis planning the gradual lift of capital controls

The Minister of Economy Giorgos Stathakis revealed that a government plan is being developed for the gradual lift of the capital controls. Mr. Stathakis made the revelation in Monday-evening interview on Star Channel, however he did not elaborate on the plan itself. During the interview the Minister explained that the return to growth will be […]

IMF says Greek debt ‘highly unsustainable,’ debt relief ‘essential’

The International Monetary Fund wants Greece’s European partners to grant Athens substantial relief on its debt which it sees remaining “highly unsustainable,” according to a draft IMF memorandum seen by Reuters. Earlier on Tuesday, Greece and inspectors from its EU/IMF lenders adjourned talks on a crucial bailout review, mainly due to a rift among the […]

Talks continue between Athens, ‘Quartet’ with 2 texts now the target for this week

Two texts are in the works to try and smooth over differences between Athens and institutional creditors, as reported since last week, with European creditors and the IMF still disagreeing on the effect that a tax package — including possible pension cuts — worth 5.4 billion euros will have on Greek finances. The IMF insists […]

Preparations for bailout agreement under way

Although bailout talks between Greece and its lenders continued Thursday night, with a number of issues still to be settled, officials have begun drafting the final agreement the various sides hope to arrive at. Sources from the lenders’ side, as well as in the Greek camp, said that the process has begun so that if […]

Stathakis: The Greek debt is only sustainable until 2022

The Minister of Economy Giorgos Stathakis announced that the Greek public debt is only sustainable until 2022, after which point a new round of talks with the country’s creditors will be needed. Mr. Stathakis, who made the comment at a Greek-German forum in Berlin, added that the business climate in Greece is improving on a […]

Stathakis: “€3.6bn worth of measures will be implemented immediately”

The Minister of Economy Giorgos Stathakis revealed that 3.6 billion euros worth of measures, from the 5.4 billions agreed with the institutions, will be implemented immediately. The remaining 1.8 billion euros worth of measures will be implemented after 2018, he told ANT1 on Friday. According to Mr. Stathakis the negotiations are on track, with an […]

Gov’t asks for bank transaction tax

The Greek government presented to the representatives of the institutions its plan to impose a new tax for bank transactions of 1 per mille in order to avoid new stricter measures and cover the fiscal gap and the gap in social security. These issues will be discussed on Wednesday among Finance Minister Euclid Tsakalotos, Labour […]

Stathakis: “Some progress on red loans, but still a long way to go”

The recent meetings between Greek government officials and the institutions on the new privatization “superfund” and the non-performing loans have resulted in some progress, claims a Ministry of Finance source. According to the senior officer, the CEO of the new fund will be Greek and operate under the supervision of a council, where the institutions […]

Tsakalotos and Stathakis meet with institutions on non-performing loans

A meeting between the institutions and Economy Minister George Stathakis and Finance Minister Euclid Tsakalotos is currently underway. The meeting will focus on the non-performing loans. Meanwhile, Deputy Foreign Minister Dimitris Mardas said on Friday (11/03/2016), speaking to ANA-MPA’s radio “Praktorio 104.9” that the institutions should make clear what they want from Greece and they […]

EC summons Stathakis for explanation

Economy Minister Giorgos Stathakis has been asked to provide an explanation to Brussels regarding the recent amendment regarding the operation of the Competition Commission, one of Greece’s independent watchdogs. Stathakis will travel to Belgium on Monday for a meeting of European Union competition ministers and will have a private meeting with European Commissioner for Competition […]

Stathakis: We must maintain restrictions on distressed debt sales

The Minister of Economy Giorgos Stathakis argued that the Greek government must maintain restriction on distressed debt sales, in an interview for Bloomberg. Mr. Stathakis explained that “we have already opened up 50 percent of the bad loans market” and that the goals is “a long transitional period in place for sensitive categories, like mortgages, […]