Friday March 6, 2015 Search
Weather | Athens
20o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece meets budget target for more debt relief from creditors

Greece met the budget goal set by its euro-area partners as a condition for talks on further debt relief.

The government of Prime Minister Antonis Samaras recorded a primary budget surplus, which excludes interest payments, of 1.5 billion euros ($2.1 billion) last year, the European Commission said on Wednesday.

The figures are a “reflection of the remarkable progress that Greece has made in repairing its public finances since 2010,” commission spokesman Simon O’Connor told reporters in Brussels.

Greece’s euro-area partners said in November 2012 that when the government in Athens registers a primary surplus they will “consider further measures and assistance” to help Greece meet the targets set out in its rescue-aid agreement.

That deal foresees a debt-to-gross domestic product ratio “substantially lower” than 110 percent in 2022. Separate data on Wednesday showed Greece’s debt pile reached 175.1 percent of GDP in 2013, a euro-era record.

Seeking to bolster a shaky two-party coalition government, Samaras is keen to obtain a political reward for his cost- cutting measures before European legislative elections next month.

While euro-area finance ministers could kick-start discussions on debt relief for Greece at their next meeting on May 5, O’Connor said on Wednesday that the matter will not be taken up until after the summer.

Wednesday’s announcement comes four years to the day since former Prime Minister George Papandreou used a televised address to call for a financial lifeline to bolster Greece’s fragile economy. Since then Greece has gone through the world’s biggest sovereign-debt restructuring and has so far received 240 billion euros in aid commitments. To receive payments, the country has faced a series of economic conditions including labor-market reforms and budget goals.

[Bloomberg]

ekathimerini.com , Wednesday April 23, 2014 (14:01)  
Investors waiting for Monday’s Eurogroup
Germans´ holiday romance with Greece thrives despite political wrangling
Gov´t to auction 1 bln euros of 3-month T-bills on March 11
Germany: Greece could get money early if reforms come sooner
Greek ultra-right lawmaker on trial over TV talk show slap
A lawmaker from a Nazi-inspired Greek party, who achieved notoriety for assaulting two female left-wing colleagues during a live TV talk show, has gone on trial over the incident. An Athens ...
Crime boss Vlastos gets another 26.5 years for apartment bomb
Convicted crime boss Panayiotis Vlastos was given an additional 26.5-year prison sentence on Friday after a court found him guilty of arranging for a bomb to be placed outside an apartment b...
Inside News
BASKETBALL
Barcelona beats Panathinaikos once more
For the fourth time this season Panathinaikos failed to beat Barcelona, this time in Athens, losing 81-77 on Thursday and denting its chances for a privileged top-two finish in its Euroleagu...
SOCCER
Iraklis, Apollon and Xanthi in Cup semis
The prospect of a second-division team reaching the Greek Cup final has grown considerably after two out of the three teams that made the semifinals this week come from the Football League. ...
Inside Sports
COMMENTARY
PISA, Schengen, mediocrity and isolation
Greece’s most serious problem is not the economic and political crisis, though it did contribute greatly to it. At the root of our evil lies our great isolation, not only from our partners i...
EDITORIAL
New blood, fresh ideas
New Democracy needs new blood and fresh ideas. Former Prime Minister and conservative chief Antonis Samaras should be credited with keeping Greece on its feet and he is one of the very few p...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Investors waiting for Monday’s Eurogroup
2. Greek ultra-right lawmaker on trial over TV talk show slap
3. Crime boss Vlastos gets another 26.5 years for apartment bomb
4. ECB has ´rope round our neck,´ says Greek PM Tsipras
5. Germans´ holiday romance with Greece thrives despite political wrangling
6. Greek loan payout hinges on review of reforms, EU official says
more news
Today
This Week
1. BoG chief Stournaras briefs PM Tsipras on ECB's decisions on Greece [Update]
2. Cash-strapped Greece repays first part of IMF loan due in March
3. Greek and German bruisers limber up for 'rumble in the eurozone'
4. Greece must repay loans in full, bailout fund head says
5. Greek reforms list cites tackling evasion, fiscal savings, source says
6. Greece sends new letter with details on reforms, sources in Brussels say
Today
This Week
1. Greece to make international protest over Turkey reserving Aegean air space
2. The Greek tax drama
3. SYRIZA feeling the pain
4. Varoufakis to make six reform proposals at Monday's Eurogroup
5. The unlikely winners of Greece's surrender on euro
6. Tsipras reversal draws Greek sympathy as party rumblings rise
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.