Tag: Greece
The IMF and the EU negotiated with Athens measures to save another 11,500 million
A technical team of the Troika, which form the European Union, the European Central Bank and the International Monetary Fund, has arrived in Athens to negotiate with the Greek authorities how to save 11,500 million euros to keep a balance in the 2013 and 2014. “Tax evasion, reduced social spending and progress of recapitalization of [...]
Greece Out Of The European Union Would Be Catastrophic
German Chancellor Angela Merkel, said that would be “catastrophic” to allow Greece leave the euro zone, which would be “incredibly weak” in a television interview broadcast on the BBC on Monday. “We made the decision to join a monetary union. It is a decision not only monetary but also political,” said Angela Merkel. “It would [...]
Greece may have 185,000 million new EU-IMF loans
Greece may have a new loan of 185,000 million euros from the European Union and the International Monetary Fund (IMF) for 2015, in addition to the 107,000 million forgiven by private creditors and the first loan package of 73,000 million provided since 2010. Taking into account the first loan in May 2010 and debt relief, [...]
Greece receives money from the EU and the IMF to avoid bankruptcy
Greece received on Tuesday a first injection of 7,500 million euros in the new rescue plan agreed by the European Union and the International Monetary Fund to avoid bankruptcy, said a finance ministry source. This sum 5900 million euro zone and 1,600 billion IMF-”will be used to cover debt” owed by the country, the source [...]
The Greek government foresees a budget deficit of 9.2% in 2011
Greece’s public deficit will be around 9.2% in 2011, compared to 10.6% in 2010, according to the latest forecast from the Greek Government, advanced Tuesday. If confirmed these forecasts, presented by the Deputy Minister of Finance, Philippi Sahinidis, in a meeting with economists, the Greek public deficit will be around the estimate referred to in [...]
The 15% of Greeks who receive help can not justify their disability
The 15 percent of the Greeks who receive some form of disability pension have not been able to justify why they receive it, according to a census released today by the Ministry of Health to combat fraud. The investigation began last year when it was discovered that the island of Zante, about 40,000, there were [...]
Eurozone is about to deliver the first part of the second rescue of Greece
The euro zone is about to deliver on Wednesday the first part of the second rescue of Greece, said the president of the Eurogroup, Jean-Claude Juncker said in a statement. “All parliamentary procedures have been completed” to deliver “the first part, equivalent to 39,400 million,” Juncker said in a statement. Greece needs urgent funds to [...]
Fitch upgrades the Greece credit rating of “partial default” to junk bond
The international rating agency Fitch Risk today announced it has raised the credit rating of Greece from “RD” (partial default) to ‘B-’, equivalent to the so called “junk bond”. This improved “rating” comes a day after completion of the redemption of bonds in the framework of the Greek debt relief in private hands worth about [...]
The IBEX up 0.69 percent after the approval from Europe to the rescue of Greece
The main indicator of the Spanish Stock Market, the IBEX 35 rose 0.69% in the first minutes of trading after yesterday touching the annual minimum and suffer the biggest drop in Europe, today encouraged by the end of the second rescue of Greece and Spain margin achieved in its deficit target. At 09.10 hours, the [...]
Greece Concludes Debt Swap
Greece concluded on Monday the debt swap under Greek law, as part of a historic restructuring that allows you to remove about a third of its public debt, although the value of the new securities market collapsed in debt. Management Agency said Greece’s debt on Monday afternoon that it had completed the exchange of 177,300 [...]
