Monday September 1, 2014 Search
Weather | Athens
29o C
23o 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)  
September off to slow start in Greek bourse
Deadline looms for Cyprus vote on key bill
Europe drafts emergency energy plan with eye on Russia gas shut-down
Greek PM vows to bring down unemployment
Education minister calls for probe into predecessor´s reform plan
Following reports that a plan to reform the tertiary education sector launched in the spring of 2013 failed to lead to millions of euros in savings, Education Minister Andreas Loverdos on Mo...
Anti-racism bill goes back to Parliament
An anti-racism bill, foreseeing stiffer penalties for individuals and political parties that engage in racism or incite racist violence, is to be debated in Parliament on Tuesday following m...
Inside News
SOCCER
Fulham striker Mitroglou set to re-join Olympiakos
Greek champions Olympiakos Piraeus are set to re-sign Kostas Mitroglou on loan from English second tier club Fulham after the striker arrived in Athens for talks on Sunday. An Olympiakos spo...
SOCCER
Tough draw for Greek sides in Europa League group stage
Following Thursday night’s high, when all three Greek teams competing in the Europa League made it into the group stage of the competition, a harsh reality struck Friday as they found out wh...
Inside Sports
ANALYSIS
EU’s three big problems all linked
The outgoing president of the European Council, Herman Van Rompuy, said at the weekend that his successor, Donald Tusk, currently Poland’s prime minister, faces three big challenges: the sta...
COMMENTARY
A great president
I fully understand the country’s need for political stability, a necessity which makes the election of a president by the current Parliament absolutely imperative. At the same time, however,...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Education minister calls for probe into predecessor´s reform plan
2. September off to slow start in Greek bourse
3. Anti-racism bill goes back to Parliament
4. Sanitary landfill for Ilia in Peloponnese given green light
5. Deputy Education Minister quits for ‘personal reasons´
6. Two injured after being shot at christening
more news
Today
This Week
1. Excavation work at Amphipolis reveals section of marble mosaic floor
2. A great president
3. Erdogan visits Turkish-occupied Cyprus
4. Greek economy shrinks at slowest pace since late 2008
5. Don’t feed the zombies
6. Greek officials meet to fine tune strategy for Paris talks with troika
Today
This Week
1. Attack on gay couple in Athens leaves one man needing surgery
2. The battle against progress
3. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
4. Strong undersea quake occurs off island of Milos, felt in Athens
5. Greek quest for debt relief faces hurdles in Paris
6. Hardouvelis, ECB executive discuss bank program, stress tests
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.