Friday October 24, 2014 Search
Weather | Athens
19o C
12o 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)  
Tax revenues up by 1 bln euros in 2nd quarter, public sector wages down
ECB bank assessment to show 6-billion-euro capital gap, Citi says
ECB vies for third time lucky in European stress tests
Cyprus GDP upgrade seen as boosting bailout exit plans
Greek private workers´ union calls 24-hour strike for November 27
The country's umbrella union representing workers in the private sector, known by its Greek acronym GSEE, on Friday called a 24-hour strike for November 27 to protest austerity measures bein...
Finance Minister appeals for support for amendments ahead of vote
Finance Minister Gikas Hardouvelis on Friday called on MPs across the political spectrum to support a series of legislative amendments proposed by his ministry, including a recommendation to...
Inside News
SOCCER
Panathinaikos snatches point at Eindhoven
Panathinaikos offered its fans a glimpse of its glorious past in European competitions snatching a draw at PSV Eindhoven, on an otherwise bad night for Greek soccer in the Europa League, as ...
BASKETBALL
Greens succumb to first loss at Bayern
Panathinaikos’s unbeaten run in all competitions came an end on Thursday as the Greek champion lost 81-75 at Bayern Munich for the Euroleague. Bayern is a team that improves every year, and ...
Inside Sports
COMMENTARY
Tension for tension’s sake?
It is evident that Turkish President Recep Tayyip Erdogan feeds off tension. He would barely have achieved as much as he has – and prevailed – if he had not been so keen to confront a series...
EDITORIAL
Testing ground
The Regional Authority of Attica is a good testing ground for politicians who appear to thrive on accusations to prove whether they can actually solve major problems of a practical nature. T...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Tax revenues up by 1 bln euros in 2nd quarter, public sector wages down
2. Greek private workers´ union calls 24-hour strike for November 27
3. Finance Minister appeals for support for amendments ahead of vote
4. Credit line only open to Greece if it meets economic targets, sources say
5. ECB bank assessment to show 6-billion-euro capital gap, Citi says
6. Venizelos slams Turkey for ´flagrant violation of international law´ off Cyprus
more news
Today
This Week
1. Woman killed in tram accident in Floisvo, south of Athens
2. Clocks to go back 1 hour on Sunday
3. ECB vies for third time lucky in European stress tests
4. Cyprus GDP upgrade seen as boosting bailout exit plans
5. Venizelos slams Turkey for 'flagrant violation of international law' off Cyprus
6. Cyprus president to be released from hospital on Friday following readmission
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Greece’s closed society is central to its current malaise
3. Coalition shooting itself in the foot
4. Greece must stick to reforms, says Schaeuble
5. At least 11 banks to fail European stress tests, three in Greece, report says
6. Cyprus to block Turkey's EU talks after EEZ violation
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.