Greek Finance Minister Yiannis Stournaras said his goal is to push Greece into a primary surplus this year to earn debt relief. That comes after inspectors from international lenders concluded a review of Greek books that is slated to open the way for 8.8 billion euros ($11.5 billion) in the release of delayed loans. “For [...]
Tag Archives | Eurogroup
Stournaras Says Banks Safe, Troika Talks Linger
With the apparent abandonment of a plan to allow the National Bank of Greece and Eurobank to merge after international lenders raised objections and the banks couldn’t raise enough capital, Finance Minister Yannis Stournaras reassured Greeks their deposits were safe. But he said that negotiations with the Troika of the European Union-International Monetary Fund-European Central [...]
Schaeuble: Cyprus is a “special case”
German Finance Minister Wolfgang Schaeuble has said savings accounts in the eurozone are safe, adding that Cyprus is a “special case” and not a template for future rescues. In an interview with Bild newspaper published on Saturday, Schaeuble distanced himself from comments on Monday by Eurogroup chairman Jeroen Dijsselbloem, who said the rescue programme agreed [...]
Anastasiades Says Cyprus Will Keep Euro
Despite harsh terms being imposed on orders of international lenders to get a 10 billion euros ($13 billion) bailout, Cyprus will not quit the Eurozone, newly-elected President Nicos Anastasiades said, even though he had campaigned against them. Uninsured depositors with more than 100,000 euros could lose up to 80 percent of their money that’s being [...]
Eurogroup Reaches Agreement on Cyprus Bailout
The Eurogroup has reached an agreement with the Cypriot authorities on the key elements necessary for a future macroeconomic adjustment programme. The Eurogroup has reached an agreement with the Cypriot authorities on the key elements necessary for a future macroeconomic adjustment programme. The deal will include a levy on deposits of more than 100,000 euros [...]
‘Complications with Piraeus Deal for Cypriot Units’
Talks on the transfer of Cypriot banks’ Greek units to Greece have been frozen on the instructions of President Nicos Anastasiades, the Cyprus News Agency (CNA) reported. The matter of transferring the operations to Greece’s Piraeus Bank will be part of a comprehensive deal for Cyprus’ bailout tonight at the Eurogroup, the report said. Observers [...]
Tsipras Says Samaras Should Back Cyprus
While Greek Prime Minister Antonis Samaras, who is dealing with the same international lenders squeezing Cyprus to confiscate part of bank accounts to help pay for a bailout, remained mostly silent about the island’s crisis, his administration was said to working feverishly to protect deposits in branches of Cypriot banks in Greece. Concern was building [...]
ECB Threatens Cypriot Bank Funds Cutoff
The European Central Bank (ECB) warned Cyprus on March 21 that it would stop providing emergency funding on March 25 unless the government finds a way to come up with 5.8 billion euros ($7.5 billion) to trigger a 10 billion euros ($13 billion) from international lenders which include the ECB. Cypriot banks have been closed [...]
Eurozone Chief Says Cyprus Risk
With Cyprus frantically trying to find a way to keep its banks and economy from collapsing after rejecting a demand to confiscate up to 9.9 percent of bank deposits to help pay for a bailout, Eurozone Chairman Jeroen Dijsselbloem said the crisis is threatening the financial bloc. Speaking to the European Parliament in Brussels, he [...]
Russians Say Cyprus Restructuring Offer Initiated, but Not On Table
The Russian news agency ITAR-TASS says that there is not a restructuring offer for Cyprus on the table, however an offer has been “initiated.” Russia’s Gazprom has not offered the Republic of Cyprus financial assistance in restructuring the country’s banks in exchange for the right to gas production in the exclusive economic zone of Cyprus. [...]
Eurogroup Decides More Flexibility for Cyprus Levy-source
The Eurogroup agreed that Cyprus depositors with less than 100,000 euros ($129,600) should be protected and not be taxed. The Eurogroup has decided to give Cyprus more flexibility over a bank levy which is part of its bailout conditions, said Eurogroup president Jeroen Dijsselbloem after a teleconference of euro zone finance ministers. Below is Mr. Dijsselbloem’s full [...]
Gazprom Offers Cyprus Restructuring Deal to Avoid EU Bailout
Russian energy giant Gazprom has offered the Republic of Cyprus a plan in which the company will undertake the restructuring of the country’s banks in exchange for exploration rights for natural gas in Cyprus’ exclusive economic zone, local media reported. Representatives of the Russian company submitted the proposal to the office of Cypriot President Nicos [...]
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05 / 23 Samaras Backs Away From Golden Dawn
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05 / 23 Simitis May Appear In Tsochatzopoulos Case
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05 / 23 Big Pay For Alpha Bank Execs
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05 / 23 Crete Hosts Talks On Ancient Novels
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05 / 23 Arrests Made In Ioannina Kidnapping
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Calendar – Exhibits, Concerts, Fun
- Crete Hosts Talks On Ancient Novels May 23, 2013
- Velos Mutiny Honored in Special Ceremony May 23, 2013
- Contemporary Theatrical Adaptation of Homer’s Iliad May 22, 2013
- A Greek Portfolio at The Benaki Museum May 22, 2013
