Saturday December 20, 2014 Search
Weather | Athens
17o C
10o 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)  
Political upheaval sharpens after bribe claims with threats and insinuations
Environment Ministry to reconsider controversial bill
Police gets new communications system
Most Greeks say they recycle daily
Workers rush to get early retirement
Nine out of 10 workers who retired in the last four months who had belonged to the former special funds of banks and state corporations that have now been incorporated in the Social Security...
Piraeus Containter Terminal goes from strength to strength
Piraeus Container Terminal, the local subsidiary of Chinese giant Cosco Pacific, is expected to handle a total of over 3 million containers in the January-December period of this year. The J...
Inside Business
BASKETBALL
Explosive Barca unfazed by Panathinaikos, bomb scare
Panathinaikos lost 80-67 at home to Barcelona on Friday in a rather meaningless game at the end of the first group stage of the Euroleague, but the encounter will be remembered for the bomb ...
SOCCER
Abidal cuts short playing career at Olympiakos
Former France and Barcelona defender Eric Abidal announced his retirement from football on Friday, a day before his last match. Abidal said he will finish after playing for Olympiakos agains...
Inside Sports
COMMENTARY
The big picture
In his second term, US President Barack Obama is taking steps to enshrine his legacy and solidify America’s standing in the 21st century. His recent decision to normalize relations between t...
EDITORIAL
Get your facts straight
The danger that political discourse in Greece will sink to the basest levels of vulgarity is already more than apparent from the allegations we have heard bandied about over recent days. The...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Political upheaval sharpens after bribe claims with threats and insinuations
2. Environment Ministry to reconsider controversial bill
3. Police gets new communications system
4. Most Greeks say they recycle daily
5. Probe into revenues of 2 mln euros in Halkidiki municipality
6. Changes on E9 property declarations possible until end-year
more news
Today
This Week
1. The big picture
2. Get your facts straight
3. Probe into revenues of 2 mln euros in Halkidiki municipality
4. Search under way for ‘mastermind’ of bank-scamming gang
5. Heroin seized from Italy-bound orange shipment
6. Corinth-Patra highway traffic to be diverted
Today
This Week
1. Juncker warns Greeks against voting 'extreme forces' into power
2. Romanos and the dilemma
3. Samaras summons bond vigilantes with euro exit talk
4. A friendly yet firm message from Pierre Moscovici
5. Europe's drama in Greece needs final act to avoid tragedy
6. High stakes
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.