The International Monetary Fund wants euro zone finance ministers to agree to cut Greece’s debt by 20% of GDP now (equal to €40 billion) and commit to further cuts later in order to put the country’s debt in a sustainable path, Reuters reported citing an unnamed source. This reduction could be achieved through lowering interest [...]
Tag Archives | IMF
Greece Hopes for Delayed Loan Today
Eurozone finance ministers on Nov. 26 will consider for the third time in three weeks whether to sign off on a long-delayed $38.8 billion loan installment Greece needs to keep its debt-crushed economy from crashing, but could face yet another setback. The bloc’s fiscal chiefs can’t see eye-to-eye with International Monetary Fund (IMF) Managing Director [...]
Greek Loan May Be On Hold Again
The Italian news agency ANSA, quoting European officials, said Eurozone finance ministers are unlikely to again – for the third time – act on a long-delayed $38.8 billion loan installment for Greece when they meet in Brussels on Nov. 26, and could put it off for a week. They met for 12 hours last week [...]
Europe Mulls Greece “Haircut” in 2015
Eurozone finance ministers are considering a possible “haircut” for Greece in 2015, imposing losses on its international lenders, a German newspaper reported on Nov. 25, in a bid to reduce the debt mountain of the recession-wracked country. Other Eurozone countries and institutions such as the European Central Bank (ECB) could be ready to discuss writing [...]
Greek Bailouts Cost Some, Gain Others
While Greece’s crushing economic crisis has hurt many people – those suffering pay cuts, tax hikes, slashed pensions and who have lost their savings by investing in Greece – it’s made a lot of money for some speculators, the European Central Bank, as well as German banks. According to a report in Der Spiegel, Germany [...]
Samaras Sees Hope for Loan Deal
After being upstaged when Eurozone finance ministers couldn’t agree on releasing a long-delayed $38.8 billion loan installment to keep Greece’s economic alive, Prime Minister Antonis Samaras said after a European Union budget meeting failed that he believes the monies for Greece could be released next week. The finance ministers are set to meet again in [...]
Samaras in Brussels, Merkel Says Loan Coming
Greek Prime Minister Antonis Samaras was in Brussels on Nov. 22 for the start of a two-day meeting of European Union leaders on the region’s budget where he was expected to meet Eurozone chief Jean-Claude Juncker and push for a long-delayed $38.8 billion loan installment to be released. Eurozone finance ministers earlier in the week [...]
Eurozone Talks Break Down, No Aid for Greece Yet
After 12 hours of talks in Brussels between Eurozone finance chiefs and International Monetary Fund Managing Director Christine Lagarde failed to reach an agreement on how to manage Greece’s runaway debt and unlock a long-delayed $38.8 billion loan, Prime Minister Antonis Samaras said he would meet with the financial bloc’s leader, Jean-Claude Juncker. A dismayed [...]
Samaras Plans Post-Loan Cabinet Shakeup
Once Greece gets a long-delayed $38.8 billion installment from international lenders – now expected to be Dec. 5 – Greek Prime Minister Antonis Samaras reportedly will reshuffle his Cabinet and reward his coalition partners, PASOK Socialist leader Evangelos Venizelos and Democratic Left chief Fotis Kouvelis, by making them Deputy Prime Ministers. Venizelos and Kouvelis gave [...]
Greece’s Big Week: EU Showdowns
Having secured reluctant Parliamentary approval of a $17.45 billion spending cut and tax hike plan demanded by international lenders, Greek Prime Minister Antonis Samaras is preparing for a week of meeting European Union leaders in the hopes they will sign off on a long-delayed $38.8 billion installment needed to keep the economy going. Finance ministers [...]
Lagarde Says Greece Needs Solution
As Greece waits fretfully for whether Eurozone leaders this week will release a delayed $38.8 billion installment needed to keep the country’s economy afloat, International Monetary Fund (IMF) chief Christine Lagarde said a permanent answer must be found to its debt problems and be “rooted in reality and not in wishful thinking.” The European Union [...]
Greek Coalition Reels, Awaits EU on Loan
Prime Minister Antonis Samaras is struggling to keep his uneasy coalition together in an attempt to present a united front before Eurozone finance ministers meet on Nov. 20 to consider approving a long-delayed $38.8 billion loan installment, and as he sets to attend a European Union summit later in the week. Samaras got the Parliament [...]
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Calendar – Exhibits, Concerts, Fun
- Greek-By-Choice Pedro Olalla Honored May 20, 2013
- AHEPA Day Celebration Hosted In Athens May 20, 2013
- Greek Gastronomy Days At Benaki Museum May 20, 2013
- Open Call for Greek Designers May 19, 2013
