Thursday October 30, 2014 Search
Weather | Athens
19o C
12o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Hopes raised for deal on Greek debt at Eurogroup

Greece was waiting to hear on Tuesday night if eurozone finance ministers were prepared to give the green light for the release of its next bailout tranche and whether they were able to bridge differences with the International Monetary Fund over how to make the country's debt sustainable.

IMF managing director Christine Lagarde and a number of ministers attending the Eurogroup in Brussels appeared hopeful that all the loose ends would be tied up.

“We’re here to work very constructively to see if we can find a solution for Greece,” Lagarde told reporters.

“There are good chances that we will come to a conclusive mutual solution, but I can’t be entirely sure,” said Eurogroup chief Jean-Claude Juncker. “It’s clear that Greece has delivered.”

The meeting was expected to lead to the release of Greece's next loan tranche in the coming days. According to a schedule seen by Reuters, proposals on providing additional funding to cover the two-year extension to Greece's fiscal adjustment and on reducing the country's debt would be put before national parliaments with the aim of them being voted on by the end of the month.

A new Eurogroup on December 3 would then approve disbursement, which would take place on December 5 after Greece and the troika had a signed a new memorandum of understanding a day earlier.

It remained to be seen of the eurozone and IMF could settle their dispute over how to bring Greek debt down to 120 percent of GDP from the 190 percent it is expected to reach next year.

The IMF wants to stick to the original deadline of 2020 for reaching this target, while the eurozone has suggested it should be moved to 2022.

"It is essential that we decide on a set of credible measures on reducing the debt burden of Greece tonight,” said EU Economic and Monetary Affairs Commissioner Olli Rehn.

“Furthermore, we should be ready in the coming years to take further decisions, if needed, in order to ensure there is sufficient debt sustainability in Greece,» Rehn added, without elaborating on what form this reduction might take.

Germany, and several other eurozone countries, have so far ruled out the possibility of a haircut on bilateral loans to Greece.

"I have the impression that a political agreement is within reach and I think it is our duty as finance ministers to get it this evening,” said French Finance Minister Pierre Moscovici. “Everyone has to accept that they will have to go beyond their red lines."

ekathimerini.com , Tuesday November 20, 2012 (23:08)  
In Athens, NATO chief sees spike in Russian flights on border
Germany denies backing proposal for Greece to exit aid program
Boy, 13, dies after falling from fifth floor in Thessaloniki
Civil servants to be investigated for transferring money abroad
Italy, Greece banks lead Europe decliners amid capital concerns
Italian and Greek banks led stock declines among the region’s lenders after European Banking Authority Chairman Andrea Enria said stress tests completed last week aren’t foolproof and more m...
European stocks tumble as banks decline after Enria’s comments
European stocks retreated, erasing earlier gains, as banks from peripheral euro-area nations tumbled. U.S. index futures and Asian shares also declined. The Stoxx Europe 600 Index fell 0.7 p...
Inside Business
SOCCER
Greece drops Samaras for Euro 2016 qualifier
Greece coach Claudio Ranieri has dropped striker Georgios Samaras from the national team after a dismal start to European Championship qualifying. Samaras, who plays for West Bromwich Albion...
BASKETBALL
Panathinaikos and PAOK retain perfect record
The third round of games in the Basket League over the weekend saw PAOK overcome the strong resistance of host KAOD at Drama, and Panathinaikos and Olympiakos inflict heavy losses on AEK and...
Inside Sports
COMMENTARY
Time is running out in Afghanistan
Thirteen years after the attacks on the Twin Towers and NATO's entry into the war in Afghanistan, things remain pretty much unchanged: Political instability and insecurity  reign in the Cent...
COMMENTARY
Cool heads required
It’s time for Athens and Nicosia to deal with the current situation in Cyprus’s Exclusive Economic Zone (EEZ), which a Turkish seismic research vessel has breached against international law,...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. In Athens, NATO chief sees spike in Russian flights on border
2. Greece drops Samaras for Euro 2016 qualifier
3. Germany denies backing proposal for Greece to exit aid program
4. Boy, 13, dies after falling from fifth floor in Thessaloniki
5. Italy, Greece banks lead Europe decliners amid capital concerns
6. Civil servants to be investigated for transferring money abroad
more news
Today
This Week
1. Greek euro dilemma is back as minister predicts volatility
2. Students hijack university senate meeting
3. Clientelism belongs to the past, says Mitsotakis
4. Peripheral banks lead European shares lower after positive start
5. Over 1,500 buildings and vehicles damaged in flash floods
6. European stocks tumble as banks decline after Enria’s comments
Today
This Week
1. At least 11 banks to fail European stress tests, three in Greece, report says
2. Austria’s creative bookkeeping beats Greece on secret debts
3. Cyprus to block Turkey's EU talks after EEZ violation
4. End of reason, end of humanity
5. Clean bill of health for Greek banks from stress tests
6. Samaras pledges action after flash floods in Athens
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.