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How the world sees Greece
Showing posts with label international monetary fund. Show all posts
Showing posts with label international monetary fund. Show all posts
Wednesday, October 24, 2012
Greece reportedly given more time to fix ailing state budget
Greece's international creditors have granted it two more years to reign in its public deficit, a German newspaper has reported. Citing a draft deal it said Greece will still receive its next trance of bailout aid.
Tuesday, October 16, 2012
Recession-hit Greece needs hope to fight 'extremism': Antonis Samaras
 Scrape TV | Recession-hit Greece needs hope to fight 'extremism': Antonis Samaras Economic Times ATHENS: Recession-hit Greece needs hope -- and a shot of EU-IMF loans -- to fight "extremism and populism" that threaten the fabric of its society, Prime Minister Antonis Samaras said on Monday. "No economic development plan can succeed if society ... Expert Opinion On Greece's Illusions And Euro Prospects Malaysia, Which Refused IMF Aid, Says Greece Needs Time IMF backs request for more time from Greece despite it not actually being ... |
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| READ THE ORIGINAL POST AT economictimes.indiatimes.com |
Friday, September 14, 2012
Press Watch, September 14
The winding road toward approval of the 11.5 billion euro budget cuts package and various developments that might help inject liquidity into the Greek economy dominated the headlines of Athens dailies.
A 1.4 billion loan from the European Investment bank was intensely covered. About 750 million of that will be disbursed immediately and the rest will be given in installments through next March.
A 1.4 billion loan from the European Investment bank was intensely covered. About 750 million of that will be disbursed immediately and the rest will be given in installments through next March.
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| READ THE ORIGINAL POST AT www.athensnews.gr |
European ministers discuss Greece debt extension
NICOSIA, Cyprus (AP) — Greece may get more time to cut its budget, its creditors indicated Friday in another sign of increasing flexibility and optimism across the 17 countries that use the euro, while Spain appeared to be inching closer to making a formal request for financial assistance.
The new Greek coalition government is seeking a two-year extension to meeting a budget reduction program to 2016, as the country's recession is proving worse than anticipated at the time the program was negotiated.
Jean-Claude Juncker, the head of the eurogroup of finance ministers, told a press briefing following an informal meeting in the Cypriot capital, that the report from the "troika" of the European Union, European Central Bank and the International Monetary Fund is unlikely to be ready before the beginning of October, pushing on a decision on Greece's bailout loans into the second half of October.
The ECB bond-buying plan, the creation of a new government in Greece following two elections and a German court ruling in favor of Europe's new bailout fund have all calmed markets and politicians nervous at the eurozone's debt problems.
"De Guindos also informed the eurogroup today that the Spanish government intends to adopt a national reform program by the end of September based on recommendations of the European Union, with very clear commitments and precise timetables," Olli Rehn, the European commissioner for monetary affairs, said.
The new Greek coalition government is seeking a two-year extension to meeting a budget reduction program to 2016, as the country's recession is proving worse than anticipated at the time the program was negotiated.
Jean-Claude Juncker, the head of the eurogroup of finance ministers, told a press briefing following an informal meeting in the Cypriot capital, that the report from the "troika" of the European Union, European Central Bank and the International Monetary Fund is unlikely to be ready before the beginning of October, pushing on a decision on Greece's bailout loans into the second half of October.
The ECB bond-buying plan, the creation of a new government in Greece following two elections and a German court ruling in favor of Europe's new bailout fund have all calmed markets and politicians nervous at the eurozone's debt problems.
"De Guindos also informed the eurogroup today that the Spanish government intends to adopt a national reform program by the end of September based on recommendations of the European Union, with very clear commitments and precise timetables," Olli Rehn, the European commissioner for monetary affairs, said.
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| READ THE ORIGINAL POST AT www.sfgate.com |
European Ministers Debate Bailouts
Euro-zone finance ministers indicated they may consider giving Greece more time to meet its budget goals but ruled out additional aid for the country, while urging Spain to come clean on its overall financing needs.
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| READ THE ORIGINAL POST AT online.wsj.com |
Euro ministers to discuss giving Greece more time
Greece may be given some more breathing room to meet its bailout commitments but no more money, European finance ministers indicated Friday as they gathered in Cyprus for a top-level meeting.
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| READ THE ORIGINAL POST AT news.yahoo.com |
Euro ministers meet following the ECB's bond plan; Greece, Spain to top agenda
Euro ministers meet following the ECB's bond plan; Greece, Spain to top agenda 680 News International Monetary Fund (IMF) Managing Director Christine Lagarde leaves the presidential palace after meeting with Cyprus' president Dimitris Christofias, unseen, in capital Nicosia, Cyprus, Thursday, Sept. 13, 2012. Lagarde is in Cyprus for an ... |
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| READ THE ORIGINAL POST AT www.680news.com |
Greece may get more time to meet commitments
Arriving for the start of two days of discussions between Europe's finance ministers in the Cypriot capital, De Jager said Greece does not have much flexibility as it tries to get more time to achieve its budget cuts and reform measures required by its rescue lenders.
Debt-crippled Greece has depended since May 2010 on international rescue loans, granted by its European partners and the International Monetary Fund, in return for a deeply unpopular austerity program.
Greek Prime Minister Antonis Samaras, who is currently struggling to get an agreement on an €11.5 billion ($14.7 billion) package of spending cuts for the coming two years with the two leaders of his coalition government, says no new money will be needed, arguing that Greece could raise more short-term money in the markets and rework its current spending plans.
Debt-crippled Greece has depended since May 2010 on international rescue loans, granted by its European partners and the International Monetary Fund, in return for a deeply unpopular austerity program.
Greek Prime Minister Antonis Samaras, who is currently struggling to get an agreement on an €11.5 billion ($14.7 billion) package of spending cuts for the coming two years with the two leaders of his coalition government, says no new money will be needed, arguing that Greece could raise more short-term money in the markets and rework its current spending plans.
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| READ THE ORIGINAL POST AT www.sfgate.com |
Greece may get more time to meet commitments
Greece may be given more time to meet its bailout commitments if the country's recession turns out worse than expected, but no more money will be provided by its euro partners, Dutch finance minister Jan Kees de Jager said Friday.
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| READ THE ORIGINAL POST AT news.yahoo.com |
Greece may get more time to meet commitments, but Dutch finance minister ...
 San Francisco Chronicle | Greece may get more time to meet commitments, but Dutch finance minister ... Washington Post NICOSIA, Cyprus — Greece may be given more time to meet its bailout commitments if the country's recession turns out worse than expected, but no more money will be provided by its euro partners, Dutch finance minister Jan Kees de Jager said Friday. Dutch Finance Minister: Greece May Get More Time for Budget Goals, Not More ... |
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| READ THE ORIGINAL POST AT www.washingtonpost.com |
IMF's Lagarde discusses Cyprus bailout, gives little away
 swissinfo.ch | IMF's Lagarde discusses Cyprus bailout, gives little away Reuters Euro zone minnow Cyprus, with a GDP of just 17 billion euros, asked for aid in June to rescue its largest banks, heavily exposed to Greek debt. Talks with the European Commission, the IMF and the European Central Bank, known as the troika, have been ... Greece may get more time to meet commitments Euro ministers meet to discuss rescue efforts Lagarde and Draghi in Cyprus for crunch ECOFIN meeting |
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| READ THE ORIGINAL POST AT in.reuters.com |
Thursday, September 13, 2012
Greece: Strikes flare as coalition government struggles to clinch new ...
 AFP | Greece: Strikes flare as coalition government struggles to clinch new ... Washington Post ATHENS, Greece — A fresh wave of anti-austerity strikes hit Greece Wednesday as the leaders of the governing coalition remained unable to finalize further spending cuts for the coming two years without which the country will lose its vital rescue loans. Greece revs up privatization drive to sway troika Greece faces more anti-austerity strikes, protests Greece Aid Decision May Be Delayed to November - EU Sources |
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| READ THE ORIGINAL POST AT www.washingtonpost.com |
Wednesday, September 12, 2012
Greece faces more strikes, no austerity deal yet
A fresh wave of anti-austerity strikes hit Greece Wednesday as the leaders of the governing coalition remained unable to finalize further spending cuts for the coming two years without which the country will lose its vital rescue loans.
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| READ THE ORIGINAL POST AT news.yahoo.com |
Greece revs up privatization drive to sway troika
AFP | Greece revs up privatization drive to sway troika Reuters ATHENS (Reuters) - Greece kickstarted a stalled privatization drive on Wednesday to appease international lenders, saying it would start the sale of 29 percent of one of its most profitable companies - gambling monopoly OPAP - next week. Inspectors ... Greece faces more anti-austerity strikes, protests Greece Aid Decision May Be Delayed to November - EU Sources |
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| READ THE ORIGINAL POST AT www.reuters.com |
News Summary: More Greek anti-austerity strikes
ANGRY GREEKS: In the latest Greek anti-austerity strikes, state hospital doctors, school teachers and local authority employees walked off the job to protest planned salary and funding cuts under a new $14.7 billion austerity package. About 1,500 retired and serving military officers also marched in protest.
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| READ THE ORIGINAL POST AT news.yahoo.com |
Greece revs up privatisation drive to sway troika
 Business Recorder | Greece revs up privatisation drive to sway troika Reuters ATHENS, Sept 12 (Reuters) - Greece outlined a plan to sell one of its most profitable state-controlled companies, gambling monopoly OPAP, reviving a stalled privatisation drive to appease international lenders. Inspectors from the troika of European ... Greece faces more anti-austerity strikes, protests Greece Aid Decision May Be Delayed to November - EU Sources |
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| READ THE ORIGINAL POST AT in.reuters.com |
Greece Faces More Anti-Austerity Strikes, Protests
 Deutsche Welle | Greece Faces More Anti-Austerity Strikes, Protests ABC News A fresh wave of anti-austerity strikes hit Greece Wednesday as the leaders of the governing coalition struggled to finalize further spending cuts for the coming two years — without which the country will lose its vital rescue loans. State hospital ... Is the US election keeping Greece in the euro? Greece's Samaras meets with ECB's Draghi |
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| READ THE ORIGINAL POST AT abcnews.go.com |
Monday, September 10, 2012
Greece Wrestles With Cuts to Unlock Bailout Funds
Greece had tough talks with its European lenders over an 11 billion euro package of budget cuts needed for the country to receive its next allotment of bailout money.
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| READ THE ORIGINAL POST AT www.nytimes.com |
Press Watch, September 10
The troika is back and it is lashing out with a vengeance against Greek senior citizens and civil servants, demanding sackings and an extra 2.5 billion euros in budget cuts. They had already made sure to decimate the income of pensioners – both public and private sector - thus transforming Greeks’ golden years into rust.
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| READ THE ORIGINAL POST AT www.athensnews.gr |
Greek PM meets austerity inspectors over further cuts
Greece's prime minister started a new round of negotiations today with representatives of the country's bailout creditors, who are demanding a fresh set of controversial austerity cuts to release the next batch of rescue loans the country desperately needs to stay afloat.
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| READ THE ORIGINAL POST AT www.independent.co.uk |
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