Thursday November 20, 2014 Search
Weather | Athens
19o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Stournaras conveys Europe’s optimism

 Finance Minister says Eurogroup meeting saw Greece in a positive light and expects it to pull through

By Nikos Chrysoloras and Sotiris Nikas

Finance Minister Yannis Stournaras spoke of widespread optimism following the Eurogroup meeting on Monday, and hope across the eurozone that Greece will pull through, a sentiment shared by the head of the Institute of International Finance (IIF).

“For the first time in a Eurogroup, Greece was not spoken about in a negative manner,” the minister told Parliament on Wednesday, two days after eurozone finance ministers took less that 10 minutes to approve the disbursement of 9.2 billion euros in bailout funding.

“There is great hope and optimism that Greece will make it, which is obvious from the speeches of ministers,” he said. “There is a sense of prevailing optimism after a long time about the situation in the eurozone.” Stournaras also referred to the drop in the spreads between Greek and German 10-year bonds: “There is a reduction in the spreads, as the difference in rates has dropped to the levels of 2010. But this will not distract me; we have just reduced the speed with which we are heading toward the rocks. We are now trying to turn the ship around.”

Data released by Eurostat yesterday on the debt of European Union member states in the third quarter of 2012 showed that Greece’s pile remained the largest in the bloc in proportion to its gross domestic product: In the July-to-September period, Greek debt amounted to 301 billion euros, or 152.6 percent of GDP. On an annual basis the Greek debt went down by 11 percentage points thanks to the debt restructuring (PSI) last spring. Compared with the second quarter, however, it went up by 3.4 percent of GDP.

Charles Dallara, head of the IIF, argued that Greece will be able to return to the markets and draw funding from end-2014 or early 2015.

In the context of his participation at the World Economic Forum in Davos, Switzerland, Dallara told Bloomberg Television on Wednesday that “this government is showing that it will make it and if it marches on unhindered it will manage to restore the climate of trust toward Greek economy.” He added that the country is steadily fulfilling commitments to its creditors that will allow it to return to the markets.

ekathimerini.com , Wednesday Jan 23, 2013 (23:05)  
Reports point to economic recovery but also the risks
Greek stocks continue rise at slower pace
Parliament to vote for 2015 budget on Dec 7
Eurozone business growth slower than thought as orders fall, survey shows
Greek police investigating suspected ISIS gun supply routes
Greek police are investigating reports according to which criminal rings are transporting weapons from Albania to Jihadists involved in Islamic State activities in Syria via Greece, Kathimer...
Venizelos, Papandreou agree to disagree over PASOK
PASOK leader Evangelos Venizelos is due to meet former Prime Minister Costas Simitis on Friday as he continues his efforts to generate a greater sense of unity in his party after holding tal...
Inside News
SOCCER
Super League in disarray, lockout continues
The situation in Greek soccer is going from bad to worse, with accusations flying between club officials, the head of the Super League announcing he will quit on Monday and the leagues remai...
SOCCER
More of the same as Greece loses to visiting Serbia
Dubbed “the friendly game that no one wanted”, Serbia’s 2-0 victory over Greece at Hania on Tuesday will not stay long in the memory of most Greek fans, except perhaps that of the 3,500 supp...
Inside Sports
COMMENTARY
‘Who lost Greece?’
If, by unhappy chance, Greece’s efforts to create a more efficient economy and more just society should fail, if it turns out that all our sacrifices were in vain, who will be to blame? The ...
COMMENTARY
Suicidal moves
In a country of complete inertia where virtual reality reigns supreme – ranging from Greece exiting the crisis to the country’s absolute destruction – the arbitrary dissemination of rumors r...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Reports point to economic recovery but also the risks
2. Greek police investigating suspected ISIS gun supply routes
3. Greek stocks continue rise at slower pace
4. Venizelos, Papandreou agree to disagree over PASOK
5. SYRIZA MPs stray from party line on issue of snap elections
6. Last-ditch effort being made to close landfills
more news
Today
This Week
1. Current account surplus widens in September
2. House committee says LAOS chief should face charges
3. Papantoniou second ‘pothen esches’ trial postponed
4. Greeks not satisfied with living conditions, work, study finds
5. Evros municipalities damaged by floods
6. Teleconference for Hardouvelis and troika on Thursday
Today
This Week
1. Skeleton found at Amphipolis tomb site
2. Unlooted tomb discovered in Aigai necropolis
3. Double quake on Atalanti fault line rattles Greek capital [Update]
4. Greece and Poland switch roles as young Greeks head to vibrant Eastern European country for better prospects
5. Constructively disrupting the Greek start-up ecosystem: What will the impact be?
6. Anti-junta uprising anniversary to be marked amid tight security
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.