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Greece

Austrian, Latvian and Spanish Parliaments Ratify Greece's Bailout Package

The parliaments of Austria, Latvia and Spain approved the third Greek bailout package on Monday. The Eurogroup had approved the program on Friday. The 86 billion euros will be dispensed from international creditors to Greece over a three-year period. 50 Latvian MPs voted in...

Greece won't Need Third Bailout Package, PM Samaras Tells 'Handelsblatt'

Greece is leaving the recession behind it and will not need a third bailout package, Greek Prime Minister Antonis Samaras apparently asserted in an interview with the German financial newspaper "Handelsblatt," excerpts of which were published on the newspaper's...

Schaeuble: Third Greek Bailout Package Can’t Be Excluded

Greece can achieve the goal of cutting debt to 120.5 percent of economic output in 2020 though a third bailout for the nation can’t be excluded, German Finance Minister Wolfgang Schaeuble said in an interview with De Morgen. “Nobody can...

Greece Battles to Salvage Bailout Package

Greece's leaders battled to salvage a new 130-billion-euro ($170 billion) EU/IMF bailout on Wednesday, rejecting doubts over their commitment to a punishing austerity package just hours before a conference call of euro zone finance ministers. But with mistrust of Athens...

April 23, 2010: Greece Enters Decade of Bailouts and Austerity

On April 23, 2010, Greece entered the bailouts era by asking its EU partners and the IMF to rescue its economy that went bankrupt. The dramatic call for help was made from the tiny Aegean island of Kastellorizo by then...

8 Years of Bailouts: A Timeline of the Greek Crisis

Greece turned a page on eight years of spending cuts and three straight international bailouts on Monday as experts warned that the country's economic challenges are far from over. The European Union, the European Central Bank and the International Monetary...

ESM Releases Last Bailout Tranche to Greece Worth €15B

Greece on Monday received a fifth and final multi-billion-euro payment ahead of the country's exit from its economic bailout scheduled for Aug. 20. The European Stability Mechanism (ESM) said it had disbursed €15 billion ($17 billion) to Greece which would cover spending...

Flashback to the Greek Bailout Referendum: When 'No' Became a 'Yes'

On the third anniversary of the referendum to decide whether Greece was to accept the bailout conditions imposed by its creditors, the political landscape of the country looks so much different. Former firebrands Alexis Tsipras and his SYRIZA-led government which...

Debt Package is 'Credit Positive' for Greece, Says Moody's

A debt relief package offered to Greece by its creditors last week is a significant benchmark in Greece’s ongoing recovery from its deep government debt, economic and banking crisis, Moody's said on Monday. In a report, the credit rating agency...

Greece Gets Debt Relief and Cash Payout as Bailout Saga Ends

Eurozone ministers agreed debt relief and a big cash payout for Greece in the early hours of Friday paving the way for its program exit in two months’ time. “After eight long years Greece will finally be graduating from its...

EU Document Confirms Greece's Post-Bailout Scrutiny

As eurozone finance ministers gather in Brussels on Thursday to finalize Greece's exit from the current bailout package, a document published by the European Commission confirms the country will remain under the creditors' microscope after August 2018. The 40-page Supplemental...

Greece Preparing Post-Bailout Plan for Eurogroup

Greece's government will present a new development plan for the post-memorandum period at the next Eurogroup on April 27 in Sofia. According to a senior government official, the plan is for Greek "ownership" and will have three recipients: the institutions,...

Greece Reaches Deal with Creditors on Reforms under Bailout Review

Greece and its international creditors agreed on a set of economic reforms the country must undertake in exchange for fresh loans. The agreement on a range of often politically sensitive measures - covering fiscal issues, energy and labor market reforms,...

German FDP Leader Critisizes Fin Min Schaeuble over Greek Bailout

In an interview with Handelsblatt newspaper, FDP leader Christian Lindner, among the candidates to take over the Finance ministry in the next German government, accused former Fin Min Wolfgang Schaeuble over his handling of the Greek bailout. Lindner ruled out...

Der Speigel: IMF Participation in Greek Bailout Probable Near 5 Billion

The IMF will participate in the third package for Greece in the amount of five billion euros, Der Speigel magazine reported on Friday. Initially, in the summer of 2015, it was decided that the amount to be released in...