Saturday March 28, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
EU keeps Greece waiting for loan

 Tranche will not be approved at Mondays 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 Samarass 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 Mondays 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 Greeces lenders and the prospects for receiving the next bailout tranche.

I dont 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 Mondays 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.

Its 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)  
Defense minister Kammenos sues commentator for 1 mln euros
Reform talks move to Brussels
China and Greece look to closer ties, as FM heads to US
British Museum rejects request for Unesco mediation on Parthenon Marbles
Bank accounts continue to bleed
Pressures on Greek bank deposits have continued in March, with sector officials estimating that households and enterprises have withdrawn a net 3 billion euros in the first weeks of this mon...
Hania and Athens are the top picks for Easter visitors
Athens and Hania (pictured) are the first choices among foreign holidaymakers heading to Greece next week for Catholic and Protestant Easter, according to international online travel search ...
Inside Business
BASKETBALL
Greens live dangerously in Istanbul
Panathinaikos played with fire in Istanbul, but still managed to beat Galatasaray 86-84 on Friday and climb to the third sport of its group two games before the end of the Euroleague top-16....
SOCCER
Greek federation backs injured Holebas
The Greek soccer federation on Friday insisted that international defender Jose Holebas had been dropped from team training in Austria because of injury and not for any other reason. Media r...
Inside Sports
COMMENTARY
Time to get moving
More than two months have passed since the elections and the government has to stop running around in circles and adopt a program of specific reforms, with detailed calculations as to their ...
EDITORIAL
The same old story
One of those infamously bad practices that the political system has been accused of for years is being propagated by the new government today, as it is appointing party cadres and politician...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Greens live dangerously in Istanbul
2. Bank accounts continue to bleed
3. Hania and Athens are the top picks for Easter visitors
4. Landlords to pay tax on unpaid rent
5. Air arrivals grow 20 pct in Jan-Feb 2015
6. Cash injection from state debtors
more news
Today
This Week
1. Greek future as trade hub in limbo amid Syriza split on railways
2. Greek gov't denies finance minister Varoufakis to resign [Update]
3. Bundesbank's Weidmann says euro zone debt in 'danger zone,' opposes more aid for Greece
4. New Democracy's political council convenes to decide line opposite gov't
5. Clocks go forward one hour on Sunday
6. Berlin says has no exact information about Greek reforms
Today
This Week
1. Next Monday is D-Day for state funds
2. EU asks Greece for more reforms to speed talks on bailout
3. PM faces Merkel amid race to detail reforms
4. Some more equal than others
5. Greece to present reforms by Monday, says gov't spokesman [Update]
6. Looking at the Chinese model
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.