Saturday August 23, 2014 Search
Weather | Athens
32o C
25o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece makes request for debt relief as loan tranche approved

Greece made its first official request on Thursday for further debt relief as the Euro Working Group (EWG) met in Brussels to rubber-stamp the 2013 primary surplus and approve the release of another 6.3 billion euros in bailout funding.

A day after the European Commission confirmed that Greece’s surplus for 2013, as calculated using the troika’s methodology, stood at 1.5 billion euros, the country’s representative at the EWG made a request for more debt-lightening measures. Panos Tsakloglou, chairman of Greece’s Council of Economic Experts, reminded his counterparts of the Eurogroup’s November 2012 pledge to examine debt relief steps once Greece produced a primary surplus.

Sources told Kathimerini that the other members of the EWG agreed that these discussions should take place during the course of the next troika review of the Greek adjustment program. The Eurogroup’s advisory body also agreed that Greece’s next loan tranche should be disbursed. Subsequently, the European Financial Stability Facility (EFSF) announced that it would be transferring 6.3 billion euros to Greece, taking the total it has lent the Greek government to 139.9 billion euros. Two further tranches of 1 billion euros each are due to be released in the weeks to come as long as Greece meets reform milestones agreed with its lenders.

“I am very encouraged by the progress Greece has made in its adjustment program, as evidenced by the primary budget surplus for 2013 and the return to bond markets,” said EFSF CEO Klaus Regling. “These accomplishments were possible thanks to the determination of the Greek authorities and the efforts of the Greek people. In order to achieve sustainable economic growth in Greece, the reforms need to be continued.”

The International Monetary Fund’s executive board is due to meet in mid-May to approve the release of two installments worth 3.6 billion euros. IMF spokesman Gerry Rice said on Thursday that he also expects talks on debt relief to take place in the second half of this year.

“The time line that we’re now on for those discussions is orderly and I think will enable the international community to support Greece’s continuing recovery,” Rice said.

ekathimerini.com , Thursday April 24, 2014 (21:54)  
Baltakos rejects reports of plans to form own party
Athens finalizes Paris talks goals
Cleaning firm in IKA scam
Coalition set to nominate Kouvelis for president
ANALYSIS
Perceptions and praying for our peers
The performance of the eurozone’s other economies over the next few quarters will be much more important to Greece’s than the seemingly meager impact from the geopolitical crisis in Ukraine,...
New banking measures aimed at tackling nonperforming loans
The Bank of Greece is expected to deliver its latest code of ethics for the sector within the current week, possibly even today, as commercial banks scramble to deal with a mass of nonperfor...
Inside Business
Soccer refereeing investigation goes into final stage
A judicial probe into alleged corruption in Greek soccer is entering its final phase, with 11 top officials due to give depositions to Court of First Instance deputy prosecutor Aristidis Kor...
West Brom sign Greek international striker Samaras
West Bromwich Albion have signed Greece striker Georgios Samaras on a two-year contract following his release from Scottish champions Celtic, the English Premier League club said on Friday. ...
Inside Sports
COMMENTARY
Purification rituals
The collection of higher-than-expected state revenues (which exceeded the target set for the seven-month period by 555 million euros) from income taxes and the terrible introduction of the n...
EDITORIAL
Building a solid state apparatus
The conservative-led government is making a valiant effort to modernize the country’s public administration. Bringing the system up to a decent standard is of course a painstaking process th...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Perceptions and praying for our peers
2. New banking measures aimed at tackling nonperforming loans
3. Smaller firms wiped out by the crisis
4. Bank shares on wild ride amid test fears
5. Baltakos rejects reports of plans to form own party
6. Soccer refereeing investigation goes into final stage
more news
Today
This Week
1. Purification rituals
2. Greek police in easiest drug arrest ever
3. Kavala man left 6 dogs at home without food or water for 2 weeks
4. Athens police seek hit-and-run driver after pedestrian dies
5. Athens finalizes Paris talks goals
6. Public officials expect Thessaloniki metro project to finish in 2018
Today
This Week
1. Carved sphinxes at Ancient Amphipolis tomb will not be removed
2. The magical mountain
3. Merkel cites euro’s ‘construction flaws’ as economy sputters
4. Brussels warns Greece over plans to allow construction near Korinos beach
5. Greek stock recovery fading away as ASE falls 21 pct on valuations
6. Second man held over double murder in Mani
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.