Thursday April 17, 2014 Search
Weather | Athens
15o 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)  
Greek current account deficit widens in February
National Bank of Greece plans senior unsecured bond sale
Yield on first post-default Greek bond falls to issuance level
Greece startup leaders say they can’t break jobless cycle alone
Lafazanis denies speculation of rift within SYRIZA party
SYRIZA MP Panayiotis Lafazanis, who leads the man opposition party's so-called Left Platform, on Thursday sought to play down reports of a heated argument with party leader Alexis Tsipras du...
Homemade bomb targets car of deputy Parliament speaker´s wife
A homemade explosive device on Thursday destroyed the car of deputy Parliament Speaker Giorgos Kalantzis's [photo] wife. The vehicle was parked outside the couple's home in Kavala, northern ...
Inside News
SOCCER
Greek soccer turns fishier than ever
Soccer in Greece reached new lows in scenes unseen since the national team’s triumph in Euro 2004, as PAOK and Olympiakos served up a cup semifinal with PAOK emerging as the winner and the s...
BASKETBALL
Greens within a whisker of upsetting CSKA Moscow
Panathinaikos came mighty close to snatching home advantage from CSKA Moscow in Game 1 of the Euroleague play-offs on Wednesday, but eventually succumbed to its host in Russia in overtime, w...
Inside Sports
COMMENTARY
Ukraine is a crisis—but not a Cold War
Given Russia’s annexation of Crimea, the imposition of US and European sanctions, and the potential for more escalation in Ukraine, we are witnessing the most important geopolitical events s...
EDITORIAL
Transparency of political party funding
Ensuring transparency in the funding of political parties and the manner in which they choose to spend their funds are crucial to the smooth functioning of our democracy. After all, most of ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Lafazanis denies speculation of rift within SYRIZA party
2. Greek current account deficit widens in February
3. National Bank of Greece plans senior unsecured bond sale
4. Yield on first post-default Greek bond falls to issuance level
5. Homemade bomb targets car of deputy Parliament speaker´s wife
6. Wearing crowns of thorns, cleaning ladies hold protest at Finance Ministry
more news
Today
This Week
1. Greece startup leaders say they can’t break jobless cycle alone
2. Ground-breaking Good Friday mass signals thaw in Cyprus
3. Seven arrested over Toumba violence
4. Mayoral candidates clash over Athens mosque plans
5. Homemade bomb targets car of deputy Parliament speaker's wife
6. Wearing crowns of thorns, cleaning ladies hold protest at Finance Ministry
Today
This Week
1. Bomb explodes outside Bank of Greece
2. Time to take a hard look at debt sustainability, says OECD chief
3. For faith and country
4. CCTV footage from Nigrita Prison shows signs of inmate torture [Video]
5. Car bomb explodes outside Greek Central Bank building, no one hurt [Update]
6. Samaras sees no need for third bailout
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.