Friday Jan 30, 2015 Search
Weather | Athens
14o C
8o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
EU keeps Greece waiting for loan

 Tranche will not be approved at Monday’s Eurogroup but likely end of the month, officials say

Greece is hoping that a meeting of eurozone finance ministers on November 19, or talks between European Union leaders three days later, will lead to officials agreeing to disburse the next bailout tranche of 31.5 billion euros.

Sources told Kathimerini that Prime Minister Antonis Samaras’s aides see these two meetings as the two most likely dates when Greece will finally get the nod from its lenders after several European officials made it clear yesterday that there would be no decision on the disbursement of the loan installment at Monday’s Eurogroup meeting.

Following a stormy vote in Parliament late on Wednesday on the latest austerity and reform package, which the government won with just 153 of 300 votes, attention quickly shifted to the stance of Greece’s lenders and the prospects for receiving the next bailout tranche.

“I don’t see how we would get to a decision next week,” said German Finance Minister Wolfgang Schaeuble. “Not all is lost, but not all is won.”

A number of other European officials spoke to media outlets anonymously to confirm that Greece should not expect a decision on the loan installment at Monday’s Eurogroup.

The European side seems some distance from the International Monetary Fund in terms of their assessment of Greek debt sustainability. According to the Financial Times, the IMF wants Greek debt to be at 120 percent of GDP in 2020, whereas the European Commission is proposing this figure should be changed to 125 percent of GDP in 2022.

Among the measures being discussed to reduce public debt are extending maturities and reducing the interest rate on its bilateral loans from 150 basis points to 80 points above interbank rates, and giving Greece the profits earned by the European Central Bank on some 50 billion euros’ worth of Greek bonds that it holds.

Yesterday ECB President Mario Draghi again ruled out the possibility of the lender accepting a haircut on the Greek bonds it holds. “The ECB is by and large done,” he said in reference to Greece. However, he added that any profits from the purchase of Greek bonds would be passed to national central banks and eurozone governments could then decide what to do with the money.

“It’s up to the governments to decide whether they want to use these profits for Greece,” he said.

ekathimerini.com , Thursday November 8, 2012 (21:43)  
Kotzias hails ´good compromise´ on Russia sanctions in Brussels
Karamanlis to meet Bakoyannis as New Democracy broods
Tsipras won´t act unilaterally, EU’s Schulz says
Row breaks out over plan to move Tripoli trash to Attica
Fitch warns of a downgrade for Greece
Fitch warned on Thursday that it will downgrade the Greek economy at its next scheduled review on May 15 if Athens and the eurozone do not reach an agreement soon or if a there is no program...
Gov’t, PCT ease China’s worries
Sources from the local subsidiary of Chinese shipping giant Cosco Pacific have told Kathimerini that they are not worried about the operation of Piraeus Container Terminal (PCT). “Nothing of...
Inside Business
BASKETBALL
Below-par Olympiakos succumbs to Efes
The winning streak of Olympiakos in the second group stage of the Euroleague ended on Thursday in Turkey, as Anadolu Efes outclassed the Reds in the second half to win 84-70. Olympiakos had ...
SOCCER
Xanthi upsets 10-man Panathinaikos in Cup
Xanthi dumped holder Panathinaikos out of the Greek Cup on Thursday, to leave Olympiakos as the big favorite for the tournament that will enter its quarterfinal phase with the draw on Friday...
Inside Sports
COMMENTARY
Strange haste
The members of the new government must have a lot of confidence in themselves. Several days before announcing his program, Prime Minister Alexis Tsipras and his cabinet have opened up a mult...
COMMENTARY
Kotzias, Dugin and the EU
“It has always been Golden Dawn’s position that Greece should not be a part of EU and US sanctions against Russia. Our national interests and geopolitical facts dictate this stance.” This wa...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Below-par Olympiakos succumbs to Efes
2. Xanthi upsets 10-man Panathinaikos in Cup
3. Fitch warns of a downgrade for Greece
4. Gov’t, PCT ease China’s worries
5. Pension payment to be ‘a little tight’ in March
6. State liquidity concerns set to grow by the month
more news
Today
This Week
1. Greece wants a debt break, but what about its poorer neighbors?
2. $11 billion wiped from Greek banks on nationalization threat
3. Greek banks rebound as gov't cites inexperience for remarks
4. Investors turn on Tsipras’s campaign to end austerity in Greece
5. Varoufakis says Russia row not about sanctions, but proper consultation
6. Schulz warns Tsipras against straying from stance against Russia, ahead of Athens meeting
Today
This Week
1. Greek Elections 2015 | LIVE
2. SYRIZA heads for historic victory but without majority
3. Greek Elections 2015 | LIVE
4. Greek Elections 2015: The day after | LIVE
5. Poll shows SYRIZA leading ND by 4 pct
6. SYRIZA's win will test institutions
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.