How the world sees Greece
Greece will send its economic reform plans to euro zone finance ministers on Tuesday morning, a government official said, missing a Monday deadline for submitting the list which is a condition for extending the country’s bailout programme.
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Four hours before the deadline Monday midnight, all Greek media report of a non-paper with reform measures that Greece suggest to its lenders. The non-paper roughly outlines the reform measures Athens is expected to submit in the form of a reforms list to its official creditors, IMF, EU and ECB, […]
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| READ THE ORIGINAL POST AT www.keeptalkinggreece.com |
In a HuffPost Live interview Monday, IMF Chief Christine Lagarde told Arianna Huffington that she remains optimistic for Greece's economic future, as Huffington's native land continues talks about a bailout extension with its creditors. Representatives of Greece and its creditors announced on Friday they had reached a deal to extend the country's bailout by four months. As part of the deal, Greece is expected to submit a plan for economic reforms this week. Lagarde said she hoped the Greek government and European officials can continue productive talks on Greece's future. "The dialogue has to be restored. Trust has to be built," Lagarde said. "All of that has to be with different platforms in mind. It's not just about growth, it's not just about fiscal. It's about making sure that the Greek economy can, on a sustainable basis, be more solid, more effective, create jobs ... if they can all go in that direction, listening to each other, not being in a posture type of exchange, I think we'll be making great progress." Lagarde said the discussions about Greece's future should not focus on "austerity or nothing," but the IMF chief emphasized she does believe that Greece needs to go through structural reforms to make sure the sacrifices Greek people have made in recent years don't go to waste. "The focus should really be on how to capitalize on the efforts that have been made so far," Lagarde said. Watch the full HuffPost Live conversation here. Sign up here for Live Today, HuffPost Live's new morning email that will let you know the newsmakers, celebrities and politicians joining us that day and give you the best clips from the day before!
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Greek officials said Monday evening they will send a list of reforms to the country's creditors for approval Tuesday morning and will communicate by teleconference Tuesday afternoon. The o0fficials claim the list is compatible with the programme Syriza, then the main ...
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Greece's leftist government will implement all policies promised during the recent election campaign, Finance Minister Yanis Varoufakis said Monday.
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The Greek government’s list of recommended reforms will finally be submitted to the international institutions on Tuesday morning. According to latest information emerging from the Greek government’s headquarters, the climate among the cabinet members is positive as the reforms will be based on the guidelines of the Eurogroup’s agreement and thus it is expected they will be approved. “The list will be submitted and I am absolutely certain it will be approved,” the Greek Finance Minister Yanis Varoufakis stated on Saturday, indicating the government’s optimism. If the list is finally approved tomorrow, then the Eurogroup will hold a teleconference which will officially signal the “green light” for the loan agreement four-month extension. The Eurogroup Finance Minister’s teleconference, with the participation of the International Monetary Fund (IMF) Managing Director Christine Lagarde, the European Central Bank (ECB) President Mario Draghi and the European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici, has also been confirmed by sources of the Greek Finance Minister. So far, all reports emerging from Athens indicate that the list drawn up will include commitments to tackle tax evasion and corruption, public sector reforms and measures to address the humanitarian crisis. Moreover, according to the Greek Mega Channel, the list will include changes based on the Organization for Economic Co-operation and Development (OECD) proposals, commitments for further independence granted to the Public Revenue General Secretariat, the evaluation of the Public Sector and mobility without layoffs, while reference is made to the promotion of the privatization plans. As an unnamed Greek official told the Financial Times, the reforms will mainly be of a “structural nature.” However, a specific budget is not described on the list of measures, but this should not cause problems since institutions are expected to persist on some of the interventions aligned with the previously agreed program that expires on February 28. Meanwhile, the list drawn up will not include issues relating to employment, such as the pre-election promise of a minimum wage increase to 751 euros, the insurance policy, the auctions abolition and the intake of public sector employees, who have been fired, as all the above are considered domestic policy issues.
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The Kalashnikov rifle used in the attack against the chief warden of Domokos’ high security prison on Saturday was also used in an armed robbery at a National Bank of Greece (NBG) branch in Aspropyrgos, in 2012, according to the ongoing police investigation. 47-year-old Serafeim (Makis) Galimanis was gunned down by unknown individuals who fired 20 times against him as he was leaving his house, using a Kalashnikov and a 9mm pistol. The ballistics test showed the bullets from the Kalashnikov matched those collected by Greek Police outside NBG on September 2, 2012, when unknown individuals attempted to break down the branch’s door using a stolen jeep. When they failed, they started shooting against the bank and then ran away, abandoning the jeep at the spot. Authorities also said that neither weapon has been linked to a terrorist attack but investigation on the bullets will continue in order to determine whether they were used in other criminal activities besides the one against the bank. (source: ana-mpa)
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Greece will present its economic reform plans to the euro zone on Tuesday, a government official said, missing a Monday deadline for the list which is a condition for extending the country's financial lifeline. The official gave no reason for the delay but said euro zone finance ministers would consider Greece's plans, which include a crackdown on tax evasion and corruption, as scheduled on ...
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ATHENS (Reuters) - Greece will present its economic reform plans to the euro zone on Tuesday, a government official said, missing a Monday deadline for the list which is a condition for extending the country's financial lifeline.
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Struggling with international lenders, Greece's new Radical Left SYRIZA government also has problems at home with money running out. The post Greece Running Out Of Cash Fast appeared first on The National Herald.
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Greek Prime Minister and SYRIZA leader Alexis Tsipras is taking a beating in the world press for reneging on promises to handle the Troika and seek debt relief, but caved. The post World Press View: SYRIZA, Tsipras, Surrender to Troika appeared first on The National Herald.
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Former Finance Minister Giorgos Papaconstantinou is expected to face a special court on Wednesday in Athens over charges of allegedly tampering with a list containing the names of more than 2,000 Greeks with cash deposits at a Geneva branch of HSBC in an effort to remove the names of three of his relatives.
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Greece is caught up in a tricky situation – and it is hard to say if or when it will manage to extract itself. One hopes that the damage to the economy and ordinary citizens’ living standards is limited.
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A naval mine was detected on Sunday by Greek coast guard officers in the northern part of Patra port in the western Peloponnese.
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ATHENS, Greece (AP) — Caught between its own defiant campaign pledges and pressure from creditors, Greece's left-wing government was readying a list of reforms demanded by debt inspectors for final approval of extended rescue loans.
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TUESDAY Eurogroup convenes via teleconference to examine Greece’s list of reforms.
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Greek-French composer Alexandre Desplat walked away with the Oscar for Best Original Score at the Dolby Theater in Hollywood, Los Angeles, on Sunday night, following his eighth Academy Award nomination.
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ATHENS • Greece will send its economic reform plans to eurozone finance ministers on Tuesday morning, a government official said, missing a ...
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Greece is to submit its list of reform commitments to the European Union a day after it was expected. The delay follows last week's outline agreement ...
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On Friday night the Greek finance minister, Yanis Varoufakis, averted total surrender to a German led demand for Greece to implement the total ...
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Thrust from a quieter life in academia to the centre stage in the latest episode of the eurozone crisis. Greek Finance Minister Yanis Varoufakis led his ...
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As Greece's new leftist leaders engage in an economic battle of chicken with their European creditors, the outcome of crisis talks portends dramatic consequences for the perennially indebted Mediterranean country as well as for its European lenders and global economic stability.
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Racing against time, Greek officials were scrambling Monday to draft a list of proposed fiscal reforms in order to secure continued funding from the country's international lenders.
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by Kostis Geropoulos On February 23, oil prices fell as worries about oversupply and a strong dollar pushed Brent futures to around $58.50 a barrel and US contracts below $49 a barrel. Following a short spike in oil in recent weeks, crude is expected to get cheaper in the days ahead, Barclays Capital said in a report released on February 23. London’s Seven Investment Management Director Justin Urquhart Stewart told New Europe on February 23 that oil price spike was very short-lived because there is very little to sustain it. “People were saying there was a bull market in the oil price. But if that’s a bull it hasn’t got any horns on it,” he said. Any boost from Greece’s last-minute deal with its creditors was overshadowed by Moody’s downgrade of Russia to junk. Russia’s Finance Minister Anton Siluanov criticised on February 21 the credit downgrade from ratings agency Moody’s as pessimistic and out of step with developments in the oil-laden economy. “I suspect that in making this decision to lower the rating the agency was guided by political factors above all,” Siluanov said. “I believe that Moody’s rating is not just overly negative, but also based on an extremely pessimistic forecast, unparalleled these days.” But Urquhart Stewart said Russia deserves the downgrading. “With the currency, with the economy getting into a worse state and it will actually be some time before that actually starts picking up again,” he said. Moody’s downgraded Russia’s sovereign debt rating to junk status. Moody’s said the security situation in Ukraine and the weak market for crude oil was diminishing Russia’s economic strength. “The risk is rising, although still very low, that the international response to the military conflict in Ukraine triggers a decision by the Russian authorities that directly or indirectly undermines timely payments on external debt service,” the rating agency stated. The Kremlin has warned the economy was entering a period of prolonged retraction because of the dual strains of sanctions and weak crude oil markets. Based on a full-year estimate of oil priced at $50 per barrel, the Russian government said gross domestic product (GDP) is expected to contract by 3% amid persistently strong geopolitical risks. Urquhart Stewart said it’s inevitable that the low oil price will put an even bigger pressure on the Russian economy. “Putin is in very significant difficulties indeed,” he said, adding that Russian companies like oil major Rosneft are asking for further state support and the government is actually running out of it. Oil prices more than halved between June and January, with Brent front-month futures reaching a low of $45.19 a barrel on January 13 but since then prices have picked up. Brent futures jumped to $63 a barrel last week in reaction to a slowing of US drilling. Last year’s fall in oil prices was sparked in part by a market bogged down by supplies, largely from a US production boom. See also: Russia bets on oil price recovery
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by Associated Press BC-SOC--Greek Standings Associated Press - 23 February 2015 14:31-05:00 BC-SOC--Greek Standings Greek Football Standings Greek League GP W D L GF GA Pts Olympiakos 25 18 4 3 56 16 58 Panathinaikos 25 17 4 4 44 19 55 PAOK Thessaloniki 25 16 2 7 47 33 50 Asteras 25 13 5 7 43 27 44 Panetolikos 25 11 9 5 34 18 42 PAS Giannina 25 9 10 6 34 27 37 Atromitos 24 9 10 5 28 19 37 Veria 25 9 7 9 34 41 34 Xanthi 24 8 10 6 35 32 34 Kerkyra 25 8 7 10 27 27 31 Kalloni 25 7 10 8 22 26 31 Panionios 25 7 7 11 27 34 28 Panthrakikos 25 6 10 9 23 33 28 Platanias 25 7 6 12 20 25 27 Ergotelis 25 5 7 13 29 50 22 Levadiakos 25 5 7 13 24 27 22 b-OFI Crete 24 7 2 15 25 48 13 a-Niki Volos 24 2 1 21 7 57 -6 a-penalized 13 points b-penalized 10 points Wednesday, Feb. 18 Ergotelis 2, Panionios 2 Saturday, Feb. 21 Panthrakikos 0, Panetolikos 0 Kalloni 1, PAS Giannina 0 Veria 1, PAOK Thessaloniki 3 Sunday, Feb. 22 Asteras 6, OFI Crete 1 Panionios 1, Levadiakos 0 Platanias 1, Kerkyra 1 Panathinaikos 2, Olympiakos 1 Monday, Feb. 23 Ergotelis 1, Atromitos 2 Saturday, Feb. 28 Levadiakos vs. Kalloni, 1300 GMT OFI Crete vs. Panthrakikos, 1515 GMT PAOK Thessaloniki vs. Ergotelis, 1730 GMT Sunday, March 1 Xanthi vs. Panetolikos, 1300 GMT Kerkyra vs. Niki Volos, 1515 GMT PAS Giannina vs. Platanias, 1515 GMT Panionios vs. Veria, 1515 GMT Atromitos vs. Panathinaikos, 1730 GMT Monday, March 2 Olympiakos vs. Asteras, 1730 GMT News Topics: Soccer, Men's soccer, Sports, Men's sports People, Places and Companies: Thessaloniki, Crete, Greece, Western Europe, Europe Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Reform list must be “quite powerful”, said the head of Eurogroup on Monday
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According to CNBC European officials should accept that Greece may never repay its debt
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EC president warns other eurozone states won't look kindly to Greek government raising minimum wage to higher levels than their own
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… the Greek plan to be "coherent and plausible". Greece agreed … the Greek reform plan, once received, would be examined by Greece… and the IMF Greek crisis deepens amid EU tension Greece bailout talks …
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Fractures began to appear in the Greek government today as Athens prepared to hand over a key proposed list of structural economic reforms to the country’s European creditors.
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Greece’s government pushed back until early Tuesday a list of awaited reforms that its eurozone partners had demanded in exchange for continuing to fund the country for another few months.
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The Greek list of economic reforms, due to be submitted to bailout monitors early on Tuesday, represents the last hold-up for the 18 eurozone ...
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The yield on three year Greek debt, which earlier this month exceeded 21 per cent, fell to 16.6 per cent — although that was still higher than before ...
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‘Constructive’ talks lead to invitation for conference call
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No one wants Greece to exit the euro and talks between the country and the European Union can be conducted without ultimatums, Federica Mogherini, who serves as High Representative of the European Union for Foreign Affairs and Security Policy, told Italian broadcaster RAI late on Sunday. “No one wants Greece to exit the euro. Last Friday’s agreement at the Eurogroup has some limitations, but a new dialog can develop tomorrow, with everyone’s participation, without ultimatums,” Mogherini was quoted as saying. “Athens is Europe. No one in the European Union gives out grades and no one executes commands. The logic in reports that claim lessons need to be learned is wrong,” she added. Answering a relevant question, the EU official also said Prime Minister Alexis Tsipras phoned his Italian counterpart, Matteo Renzi, on Saturday evening, “Possibly to thank him for Italy’s role as an intermediary, which proved useful.” “We must not allow the disintegration of the Union to start,” Mogherini continued, “the European Commission forms the last useful opportunity to diminish existing distances.” (source: ana-mpa)
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Productive Reconstruction, Environment and Energy Minister, Panagiotis Lafazanis, in two interviews with Greek Sunday newspapers Proto Thema and Realnews, expressed his opinion that the agreement reached on Friday’s Eurogroup between the Greek government and the country’s Eurozone partners should not cancel the anti-austerity and progressive program of the governing leftist SYRIZA. “The red line should provide that any agreement will not create any obstacles to the implementation and therefore constant, without U-turns, fundamental bases and the fundamental commitments of the election and the government program,” Mr. Lafazanis stressed in an interview given on Friday, when the Eurogroup’s results had not yet been published. He pointed out, “the claim for a remission of most of the Greek debt” is still in the agenda. Furthermore, regarding the scenarios that wanted the European Union Commissioner for Migration, Home Affairs and Citizenship Dimitris Avramopoulos as his party’s nominee for the Greek Presidency, Mr. Lafazanis declared he was against this option. Similarly, he said he did not agree with the nomination of the new President of the Hellenic Republic Prokopis Pavlopoulos, although he complied with the Prime Minister Alexis Tsipras’ decision and voted in favor of Mr. Pavlopoulos. Finally, the Productive Reconstruction Minister repeated that the Greek government will not proceed with the privatizations included in the memorandum. “Public Power Corporation (DEI), Hellenic Transmission System Operator (TSO) and Public Gas Corporation (DEPA) will not be privatized and will remain under public ownership and management and will work with developmental and social criteria.” Regarding the port of Piraeus, he noted that “there is no privatization issue for Piraeus Port Authority, Thessaloniki Port Authority, and the Greek railways.”
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Athenians braved the bad weather and headed to the hills today to mark the traditional Clean Monday celebrations that include flying colourful kites, despite the downpour early in the morning. “Every year it’s better because last year we celebrated with ice pellets. So I am certain next year we will have sunshine,” Athens mayor Giorgos Kaminis said after he visited the Philopappos Hill in downtown Athens, Greece. “There is a message of optimism in every Athens neighborhood that organized celebrations. This is a great message of hope, optimism and love for the people,” he added. The municipality organized several events across the city, with Athens’ band welcoming visitors to the Philopappos Hill with traditional tunes. Other bands were set up in several neighborhoods and seasonal delicacies were handed out to citizens. About 3,000 portions of “lagana,” the traditional bread baked for the occasion, and olives were distributed to Athenians. Similar celebrations took place in other Greek cities, including Thessaloniki and Chania, Crete. (source: ana-mpa)
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Internationally acclaimed composer Mikis Theodorakis stood on the side of the historic member of the Greek Left and SYRIZA MEP Manolis Glezos who yesterday publicly apologized to the Greek people for contributing to an “illusion,” as he characterized the government’s negotiations with the country’s loan partners, from which many expected that Greece will have more gains. Today, it was Theodorakis’ turn to publicly give his advise to newly elected Prime Minister Alexis Tsirpas, motivating him to say a proud “No” to German Finance Minister Wolfgang Schaeuble’s “Nein.” Theodorakis waded in, appealing to the government, even at this late hour, to resist the pressure for concessions that would, as he claimed, plunge the country into the creditors’ “fatal embrace.” “There is hope. And that is for the SYRIZA leaders to find the strength to say, even now, ‘No’ to Schaeuble’s ‘Nein’.” The 89-year-old renowned composer prompted the Greek Premier “to abolish all Memorandum-related measures and restore the Greeks’ national independence.” In a statement published in his personal website, Theodorakis urged SYRIZA’s leadership to oppose the European Union and stand up to them as well as barricade themselves within the national legality offered to them by the parliamentary majority they achieved just a month ago in the January 25 elections. Additionally, he advised the government to take a decisive turn toward the Greek people’s side and the country’s wealth and resources. “Safeguarded behind the true power of united people, they should form consortiums and utilize the full potential of our national resources, in exchange for beneficial business deals that would once and for all relieve us from our creditors’ deadly clasp,” Theodorakis suggested.
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The Greek government is in constant communication with its European loan partners in order to achieve the maximum consensus regarding its list of reforms to be submitted by midnight. According to government spokesman Gavriil Sakellaridis, the list will include, among others, measures to tackle tax evasion and corruption. In an interview with Greek “Skai TV,” Sakellaridis stressed that the list has not yet been fully prepared and therefore it has not been sent to Brussels, but it will be ready by the end of Monday, as required by the Eurozone member-states under the deal signed on Friday to extend Greece’s loan agreement until April. “It will include reforms that will aim to crack down on tax evasion and corruption so that taxes are allotted in a way that will be more fair in social terms,” Sakellaridis highlighted. It should be noted that according to Friday’s Eurogroup agreement, Greece secured a four-month extension of the loan agreement without new austerity measures and a commitment that no unilateral actions will be taken. The Greek government’s first gain has a semiological rather than a practical impact, as the EC/ECB/IMF mechanism ceases to exist, as well as the term “Troika,” which gained negative publicity among the Greeks, although these “institutions” are still the ones to oversee the Greek extended loan agreement progress. Similarly, yesterday’s arrangement introduced the term “Master Financial Assistance Facility Agreement” (MFFA) that will replace the term “program.” Most importantly though, Greece, after avoiding the danger of a liquidity shortage that would occur at the end of February due to the current program’s expiry, has until Monday to present its own list of reform measures. These will no longer be agreed with the creditors, but will be designed by the Greek government, presented to the institutions and finally approved by the Eurogroup. This list will be further specified and then agreed with the institutions by the end of April. “The list will be submitted and I am absolutely certain it will be approved. We are drawing it up as we speak, it will be completed tomorrow,” Greek Finance Minister Yanis Varoufakis said while exiting a meeting with the Prime Minister Alexis Tsipras on Sunday.
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The European Commission wants Greece to stay in the Eurozone and is not reviewing a “Plan B” on the country’s exit from the monetary union, EU Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici said in a TV interview on Monday. Asked whether he is examining a plan for Greece’s possible exit from the Eurozone, which according to German magazine Spiegel is being considered by the European Central Bank (ECB), Moscovici said: “Not only am I not reviewing a plan for a possible Greek exit [from the Eurozone], but I banned even reviewing such a plan. There is no plan B.” “Generally, when there is a Plan B, it means we don’t believe in Plan A anymore,” he added in an interview to French TV station France 2. The EU Commissioner said he expects Athens’ proposals by this evening, adding that it has been made clear “we have to be both ambitious and realistic.” He also explained what the EU is expecting from Athens’ list. “This will be an initial list of reforms, not a full program. Besides, it’s not up to the Europeans to praise or reject what the Greek government wants. But it [the Greek government] will have to provide its philosophy for the full program.“ The important thing is that once measures from SYRIZA’s program are included in the list, they will have to replace other measures – but the final result must produce a balanced fiscal plan, the EU official noted. “Therefore, we wait.” Moscovici concluded by arguing the list must be realistic, include SYRIZA’s measures, but also take into account the country’s fiscal stability, the need for creditworthiness and the understanding that the debt has to be repaid. (source: ana-mpa)
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The European Investment Bank (EIB) was active in Greece before the crisis, it remained during the crisis and its intention is to continue to be active after the crisis, EIB President Werner Hoyer said on Monday. According to Hoyer, the process, which started on Friday with Eurogroup’s agreement, is decisive: “I hope it will lead to practical results in the next four months while the next 24 hours are just as important until the agreement is finalized.” EIB already has “quite significant” exposure to Greece at 16.9 billion euros, equal to more than 9% of the country’s annual economic output, Hoyer said. Asked if more can be done, he said that if there are good and viable programs, EIB is ready to review them, but noted there are no projects for Greece. “For the moment, I do not see any new projects,” he said, adding that the amounts that have already been earmarked for the country are huge and have immensely increased in the past two years. (source: ana-mpa)
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Caught between its own defiant campaign pledges and pressure from creditors, Greece's left-wing government is due to propose a list of reforms to debt inspectors late Feb. 23 to get final approval for an extension to its rescue loans. The post Greece Rushes To Draft Reforms, But Faces Dissent At Home appeared first on The National Herald.
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NEW YORK – The timing of the A.S. Onassis Program in Hellenic Studies at New York University could not have been better. As Greece’s new Tsipras government and its lenders were engaged in furious negotiations over the Greek loan agreements, the Program hosted noted writer and filmmaker Tariq Ali, who spoke about “SYRIZA vs. […] The post International Intellectual Sees Plot Vs. Syriza appeared first on The National Herald.
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Greece will submit a list of reforms to the Eurogroup of euro zone finance ministers on Tuesday morning, a Greek government official said on Monday. The Eurogroup had set a Monday deadline for Athens to supply the list, which is a condition for securing a four-month extension to the country's bailout program. The official said the Eurogroup had agreed that the submission could be made on Tuesday ...
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The agreement also forced leftist Greece prime minister Alexis Tsipras to soften on many of the anti-austerity positions that helped bring him and his ...
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To those who have followed Greece's financial crisis for five years, there wasn't much doubt who won the latest round Friday when the region's finance ...
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ATHENS—Greece's government was working on a set of reform proposals late Monday in an effort to seal an agreement with its European partners to ...
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The path toward a long-term deal on Greece's bailout will look like a "rugby scrum," the chief debt negotiator during the Greek financial crisis told ...
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The EUs investment bank said Monday it sees no need for new projects in Greece, focusing its efforts elsewhere to get the European economy back on track.
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As euro-region finance ministers turned the screw on Greece in Friday’s talks, the group’s usual enforcer, Wolfgang Schaeuble of Germany, was eclipsed by Spain’s Luis de Guindos, according to two people with direct knowledge of the talks.
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