Sunday April 19, 2015 Search
Weather | Athens
14o C
09o 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)  
US Treasury secretary urges Greece to reach debt deal
Greece poised to sign gas deal with Russia, says German weekly
Russia gas deal would not solve Greece’s problems, says Schaeuble
Spanish official slams Greece, says time ´running out´
Panousis skeptical about law allowing early prison release
Alternate Minister for Citizens’ Protection Yiannis Panousis (photo) has distanced himself in an interview with Sunday’s Kathimerini from a law passed on Friday that allows inmates suffering...
Spike in Syrians seeking asylum in Greece
The number of Syrians applying for asylum in Greece has risen by more than 250 percent this year, according to the head of Greece’s asylum service, Maria Stavropoulou. She told Sunday’s Kath...
Inside News
BASKETBALL
Triumph for Olympiakos at Barcelona
Olympiakos produced its best away performance so far this season to defeat host Barcelona 76-63 on Friday and snatch the home advantage in the Euroleague play-offs. The Reds have now tied th...
BASKETBALL
Another heavy loss for improved Panathinaikos in Moscow
Panathinaikos raised its performance since Tuesday but still suffered a 20-point loss at CSKA Moscow on Thursday to find itself trailing 2-0 after Game 2 of the Euroleague play-offs. Having ...
Inside Sports
COMMENTARY
Back to the beginning
From 1980 up until the present day, the Greek educational system has given a false sense of democratization based on a flawed system of educator and student participation. The educational ou...
EDITORIAL
Protecting a key asset
Tourism has emerged as the only real “heavy industry” in Greece to have weathered the crisis so it is not only a question of duty that everyone protect it but also interest. To begin with, m...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Panousis skeptical about law allowing early prison release
2. Spike in Syrians seeking asylum in Greece
3. Coalition ponders next move as talks with lenders resume
4. Potami not seeking cooperation with other parties, says leader
5. US Treasury secretary urges Greece to reach debt deal
6. Greece poised to sign gas deal with Russia, says German weekly
more news
Today
This Week
1. Coalition ponders next move as talks with lenders resume
2. Potami not seeking cooperation with other parties, says leader
3. Spike in Syrians seeking asylum in Greece
4. Panousis skeptical about law allowing early prison release
5. Back to the beginning
6. US Treasury secretary urges Greece to reach debt deal
Today
This Week
1. Quarantine for Greek bank subsidiaries in neighboring countries
2. Greek finance ministry hits back at German newspaper report
3. Time to get serious
4. 'Civil war' brewing over disputed Greek goldmine
5. Putting off payments led to Q1 budget primary surplus
6. In the shadow of Greek prison, locals dread Golden Dawn trial
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.