Monday October 20, 2014 Search
Weather | Athens
24o C
16o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
'Complicated' choices on Greek financing prevented deal, says Schaeuble

German Finance Minister Wolfgang Schaeuble said that “complicated” choices regarding how to close Greece’s financing gap over the next few years prevented an agreement at the Eurogroup meeting, which ended in the early hours of Wednesday.

While a senior European official initially signaled that an agreement had been reached, ministers later said the Eurogroup was only to reconvene next week.

With creditors led by Germany refusing to put up fresh money or offer debt relief, the finance chiefs were unable to scrape together enough funds from other sources to help alleviate Greece’s debt burden, set to hit 190 percent of gross domestic product in 2014.

“We have a series of options on the table on how to close the financing gap,” Schaeuble told reporters. “We discussed the issue very intensively, but since the questions are so complicated we didn’t come to a final agreement.”

German Chancellor Angela Merkel, gearing up for a campaign for a third term next year, has ruled out writing off a portion of Greece’s debt. Politicians in the Netherlands and Finland, also with AAA credit ratings, have told their bailout-weary voters the same thing.

Still, the creditors considered a milder form of debt reduction today with options including a reduction of interest rates on loans to Greece and a temporary suspension of interest payments.

[Bloomberg]

ekathimerini.com , Wednesday November 21, 2012 (07:50)  
Turkish vessel enters Cypriot Exclusive Economic Zone
Samaras to visit Cyprus on November 7, ahead of Egypt talks
Bakers encircle Thessaloniki´s White Tower with giant ´koulouri´
Targets for troika review move back onto agenda
Greek toy retailer Jumbo lifts Q1 sales 11 percent
Leading Greek toy retailer Jumbo reported an 11 percent increase in sales in its first quarter to Sept. 30, citing robust growth in Bulgaria and Cyprus. Jumbo, which operates 53 stores in Gr...
Greece must stick to reforms, says Schaeuble
German Finance Minister Wolfgang Schaueble has to support or oppose Greek plans to exit the country's bailout at the end of the year, focusing instead on the country's need to continue refor...
Inside Business
BASKETBALL
Reds lose to Nea Kifissia, search for new coach
Nea Kifissia recorded the biggest win of its short history in the top flight defeating Olympiakos 68-67 on Sunday, in a Basket League weekend marred by the abandonment of the Thessaloniki de...
SOCCER
OFI stuns Panathinaikos, Mitroglou hits twice
OFI Crete produced the upset of the week in Greek soccer beating Panathinaikos in Athens for only the second time in its history on Sunday, while PAOK stayed on top beating Atromitos at home...
Inside Sports
Greece’s closed society is central to its current malaise
I started writing my book “The Thirteenth Labour of Hercules” a couple of months after the June 2012 elections in Greece. In that nail-biting showdown, a bruised and battered electorate narr...
COMMENTARY
Between West and East
The crisis that has been buffeting Greece in recent years has perforce turned the focus of domestic politics to developments in Europe. The nation’s attention, thoughts, relationship-buildin...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek toy retailer Jumbo lifts Q1 sales 11 percent
2. Turkish vessel enters Cypriot Exclusive Economic Zone
3. Samaras to visit Cyprus on November 7, ahead of Egypt talks
4. Greece must stick to reforms, says Schaeuble
5. European leaders pivot back to debt crisis after wake-up call
6. Bakers encircle Thessaloniki´s White Tower with giant ´koulouri´
more news
Today
This Week
1. Hardouvelis does not see 'big surprises' in ECB stress tests
2. Bakers encircle Thessaloniki's White Tower with giant 'koulouri'
3. European leaders pivot back to debt crisis after wake-up call
4. Greece must stick to reforms, says Schaeuble
5. Samaras to visit Cyprus on November 7, ahead of Egypt talks
6. Turkish vessel enters Cypriot Exclusive Economic Zone
Today
This Week
1. Possible third figure in Amphipolis mosaic may be uncovered shortly
2. Less haste, more focus
3. Greece to contribute 1 mln towards Gaza reconstruction
4. Greece nearing bailout exit, says gov't spokesperson after IMF talks
5. Istanbul skyscraper casts shadow over Greece's banking ambitions
6. Coalition shooting itself in the foot
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.