With the July 31 deadline to agree on a repayment schedule for their debts to the state having come and gone, and with very few takers, authorities are taking the next steps: shaming and, hopefully, collecting, although the latter part will be far from easy, officials admit.
The European Commission proposed on Wednesday that, under a reform of the EU’s fiscal rules, governments should ensure public debt falls over four years and stays on a downward path for a decade afterwards.
The Finance Ministry anticipates fresh debt settlements from banks and management organizations over the next five months, ranging from 1.5 to 1.8 billion euros through the out-of-court settlement mechanism.
Greece is contemplating issuing its first green sovereign bond in 2023 to support the implementation of its sustainability agenda and enhance its funding strategy, the country’s debt agency PDMA said in its report for its Funding Strategy for 2023 on Thursday.
Greece has repaid ahead of schedule 2.7 billion euros of loans owed to eurozone countries under the first bailout it received during its decade-long debt crisis, a finance ministry official told Reuters on Thursday.
The European Commission will on Wednesday propose changes to the EU’s debt rules that would allow each of the bloc’s 27 countries to negotiate its own debt reduction path, the length of which would depend on reforms and investments, officials said.
Household debt in Cyprus stood at 20.1 billion euros at the end of June 2022, with the relevant debt ratio standing at 81% of gross domestic product, a slight decrease compared to the previous quarter due to GDP growth.
Greece could face a very challenging year in 2023 but is prepared and the country’s national debt poses no “real fear”, the minister of development and investments Adonis Georgiadis said on Tuesday.
The European Commission will present in the second half of October proposed changes to European Union fiscal rules that are likely to offer countries individual debt reduction paths, Commission Vice President Valdis Dombrovskis said on Saturday.
Greece, Romania, Poland and Lithuania are urging the European Commission to give special treatment in EU debt rules to spending on defence, to help accommodate the military investment needed after the Russian invasion of Ukraine, a document showed.
Greece will repay ahead of schedule 2.7 billion euros of loans owed to euro zone countries under the first bailout it received during its decade-long debt crisis, finance ministry officials told Reuters on Thursday.
Fixed interest rates for mortgages remain attractive to borrowers, who see them as insurance against the increased uncertainty of still-rising inflation and floating rates. The prevailing economic conditions make many households nervous and impact their decision to buy a new house, bank managers say.
With more of a whisper than a resounding clang, Greece has shed another restriction dating to its painful financial bailout years.
Greece has repaid its outstanding debts dating back to its financial crisis to the International Monetary Fund, two years ahead of schedule, the Finance Minister said Monday.
