Tagged: Tsakalotos

Tsakalotos to meet Sapin, Moscovici ahead of Euro Working Group

Greek Finance Minister Euclid Tsakalotos is to meet with his French counterpart Michel Sapin and European Economic and Monetary Affairs Commissioner Pierre Moscovici ahead of a Euro Working Group meeting on Thursday. Tsakalotos is to meet with Spain in Paris on Wednesday and with Moscovici in Brussels on Thursday for talks on the progress of […]

Greece hopefull of reaching “95%” of an agreement at Eurogroup

The critical Eurogroup meeting is scheduled for Monday, where the progress of the second bailout program will be reviewed. Ahead of Monday’s meeting in Brussels, Athens and the representatives of the institutions have been in talks. Sources indicate that efforts are being made to certify to the Eurogroup that there is a 95% staff level […]

Push on talks amid fears creditors will seek more austerity

Government officials and envoys representing the country’s creditors are entering the final phase of negotiations as part of a second bailout review amid fears in Athens of demands for harsher measures. Officials are to have back-to-back talks over the weekend in a bid to reach a consensus on several thorny issues, notably regarding changes to […]

“Athens and the IMF want a clear solution on debt”

The Minister of Finance Euclid Tsakalotos argued that the Greek government and the International Monetary Fund want a clear solution for the public debt, in a statement for the Efimerida ton Syntakton newspaper. Mr. Tsakalotos argue that debt relief is an essential component of Greece’s path to exiting the bailout program in 2018. Debt relief, […]

Eurogroup to discuss short-term debt relief measures in December

Following Monday’s Eurogroup meeting, the head of the Eurogroup Jeroen Dijsselbloem announced that the talks between Greece and institutions continue in Athens as part of the second program review and progress is being made. “The second review is ongoing. Cooperation between the institutions and the Greek authorities is reported to be fruitful, progress is being […]

Creditors see budget gap for next year, press for more measures

Representatives of Greece’s international creditors are pushing for more austerity measures as they have detected a budget gap for next year of between 0.15 and 0.2 percent of gross domestic product. According to sources, the measures being sought by the creditors are worth around 360 million euros. Sources at the Finance Ministry counter that there […]

Institutions block government plan on undeclared income disclosure

The Greek government’s plan regarding the voluntary disclosure of undeclared income and funds has met resistance from the institutions during the ongoing negotiations. According to the government’s plans, the taxpayer would pay a 50% tax for cases where the relevant audit has not been carried out, 55% for ongoing audits and 60% for audits that […]

Greece expected to get go-ahead for remaining 1.7 bln bailout tranche

Greece was expected to be given the go-ahead to receive a remaining 1.7 billion euro bailout tranche after a pending issue regarding the state’s arrears payments to third parties was considered closed, Greek finance ministry sources said on Friday. Earlier in the month, a Eurogroup decision had led to the disbursement of 1.1 billion euros […]

Greek gov’t, institutions begin talks on second review of Greek program

Greek authorities and the institutions officially began negotiations on a second review of the Greek program on Friday (21/10), with a meeting between Finance Minister Euclid Tsakalotos and the heads of the technical staff of the institutions. The meeting will focus on a new privatization fund and state arrears to the private sector. Today’s agenda […]

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 […]

Technical talks with foreign envoys to begin on Monday

Government officials were on Monday to begin talks with technical teams representing the country’s international creditors in Athens ahead of the second review of Greece’s third bailout. The mission chiefs are due in Athens later in the week with European officials expected on Wednesday and the International Monetary Fund’s envoy due to join them on […]

Tsakalotos-Houliarakis attend IMF Annual Meeting in Washington

The Minister of Finance Euclid Tsakalotos and his Deputy Giorgos Houliarakis will attend the International Monetary Fund’s Annual Meeting in Washington, DC, which is scheduled for 7-9 October. During his stay in the USA, the Greek Finance Minister has arranged a series of meetings. On Friday he will meet with his American counterpart Jack Lew, […]

Critical IMF meetings on Wednesday – Fear of a new credit crunch

The Minister of Finance Euclid Tsakalotos will travel to Washington, DC for a series of critical meetings with IMF officials in order to discuss the Fund’s participation in the Greek bailout program. The latest sources however have noted that the IMF is geared towards not participating in the Greek program. According to a report in […]

Critical IMF meetings on Wednesday – Fear of a new credit crunch

The Minister of Finance Euclid Tsakalotos will travel to Washington, DC for a series of critical meetings with IMF officials in order to discuss the Fund’s participation in the Greek bailout program. The latest sources however have noted that the IMF is geared towards not participating in the Greek program. According to a report in […]

Tsakalotos: We aim for Greece to return to growth

“To achieve this”, he said, “there must be a fairer distribution of profits to employees and to the periphery, but also a more democratic control of political decisions” Europe needs a new model of economic development that will be “fairer, more social and more participatory”, Finance Minister Euclid Tsakalotos said during a keynote speech at […]

With “open matters” Greece in Euro Working Group

In Thursday’s Euro Working Group Greece will present 3 less prior actions from the 15 that were agreed last summer. In order to clinch the release of another 2.8 billion euros in rescue loans from Greece’s creditors, the government must take a number of administrative actions in addition to the legislation approved on Tuesday. Those […]

MPs to vote on privatizations and other prior actions

MPs were debating the provisions of a bill putting several state organizations into a privatization fund on Tuesday ahead of a vote in Parliament aimed at securing approval for further rescue loans. The bill was expected to pass into law as the government retains a three-seat majority though there were reports that two SYRIZA MPs […]

MPs to vote on privatizations and other prior actions

MPs were debating the provisions of a bill putting several state organizations into a privatization fund on Tuesday ahead of a vote in Parliament aimed at securing approval for further rescue loans. The bill was expected to pass into law as the government retains a three-seat majority though there were reports that two SYRIZA MPs […]

Greece, creditors agree on composition of privatization fund board

Greek officials and representatives of the country’s international creditors appear to have agreed on the composition of a new privatization fund, one of a series of conditions for the disbursement of the next loan tranche worth 2.8 billion euros. According to sources, the creditors have accepted the three Greek officials that Athens has proposed for […]