Greece will receive the next tranche of international aid in September as scheduled, even if European parliaments delay approving new powers for the continent’s temporary bailout fund, a European Commission official told a Greek newspaper Tuesday.
08/7/2011
— Filed under: Finance
Tags: crisis, Greece, loans
Bailed-out Greece is confident it will get the next tranche of debt rescue funding from the EU and IMF despite the current economic and market turmoil, Finance Minister Evangelos Venizelos said.
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The world’s largest banks signalled that they were willing to take writedowns on their stocks of Greek debt to help foster a wider solution to the eurozone sovereign debt crisis.
In a statement, the board of the Institute of International Finance, representing more than 400 of the world’s largest banks, announced its intention to consider buy-backs of Greek government bonds «to lay the basis for a more sustainable debt position».
A sizzling equity market rally took most of the shine away from government bond prices on Tuesday as investors tossed core European bonds down the safety chute. Yields rose sharply after EU officials ruled out a «total restructuring» of Greek debt and announced that they were engineering a new package likely to be unveiled towards the end of June.
05/19/2011
— Filed under: Politics
Tags: bond, goverment, Greece
Greek Prime Minister George Papandreou said on Friday that Europe must stick with its single currency and stop a «blame game» that is preventing progress on issues from finance to unemployment.
Greece will sell stakes in state enterprises and target extra savings to meet the terms of an EU/IMF bailout, the government said on Friday.
European Commissioner for Internal Market and Services Michel Barnier on Friday ruled out a prospect of Greece’s exit from the euro-zone.
12/26/2010
— Filed under: Politics
Tags: EU, euro zone, Greece
Greece will meet its target to cut its budget deficit to 7,6 percent next year and will not need to extend the repayment of a multibillion EU/IMF loan, its finance minister told a Greek newspaper published on Saturday.
10/18/2010
— Filed under: Finance
Tags: deficit, Greece, Loan Extension
Greece’s Finance Ministry has taken exception to a post on this blog that argued the government’s deficit reduction program is missing its target. It has sent the following letter from George Zanias, chairman of the ministry’s Council of Economic Advisors. It is here reproduced in full.
Greece pledged yesterday to cut next year’s budget deficit faster than agreed to in a 110-billion euro bailout deal with the International Monetary Fund and the European Union, vowing another year of tough austerity to exit a debt crisis.
10/5/2010
— Filed under: Finance
Tags: budget, deficit, Greece
