Greece needs a "precautionary support program" after Aug 2018, says Bank of Greece. Today, in accordance with its Statute, the Bank of Greece submitted its Interim Report on Monetary Policy 2017 to the Speaker of the Greek Parliament and the Cabinet.
Developments and prospects: halt of the recession – positive forecasts This Interim Report on Monetary Policy is submitted by the Bank of Greece at a time when a Staff Level Agreement for the completion of the third review of the programme has been reached with the Institutions. Progress in the implementation of the adjustment programme is having a beneficial impact on confidence, liquidity and economic activity. The positive course of the economy is reflected not only in GDP figures, but also in several key indicators of economic activity, such as industrial production, retail sales, private sector employment flows, exports of goods and services, and foreign direct investment, as well as soft data such as the manufacturing PMI and the economic sentiment indicator.
Faster growth projected for 2018 and 2019 1. 2. Germany owes Greece €185billion in WWII reparations, say German researchers. Does Germany owe indeed Greeks billions of euros in World War II reparations for the damages and the enforced loan during the occupation of the country by the Nazis?
So far, Berlin has vehemently rejected any Greek claims. However, two German researchers dug into the documents of the dispute. have discovered and calculated that the German state owes Greece 185 billion euros. Tsipras reveals how excess surplus will be shared out, eyes political relief. Varoufakis claims Tsipras was about to accept Schaeuble's temporary Grexit Plan. Yanis Varoufakis keeps up with the good work and his revelations about the crucial negotiations with the European lenders in the first half of 2015.
In an interview with Sunday newspaper Proto Thema, the former finance minister revealed that Prime Minister Alexis Tsipras was considering the accept Schaeuble’s plan about a temporary Greek exit from the eurozone. Tsipras was fully aware of the alternative plan of German finance minister, Varoufakis claims, and that he was also prepared for the tough and occasionally dirty game with the lenders.
Greece Has Eliminated Its Trade Deficit, But at a High Cost. By Colombe Ladreit de Lacharrière & Melina Kolb Peterson Institute for International EconomicsJuly 5, 2017 Greece has erased what used to be a very large current account deficit between 2007 and 2016.
This would appear to be good news, but it is not. The reason is that the deficit was reduced by Greece cutting back on imports, not on boosting exports, a result of a dramatic drop in economic output. A reduction of the trade deficit through a decrease in imports is usually welcome when high imports reflect an unsustainable boom. More. Collectif de citoyens contre l\'austérité de la Grèce et de l\'Europe. 30/04/2017 "Aucune maison sans électricité " Le mouvement « Je ne paye pas » ( DEN PLIRONO) organise régulièrement des actions de re-branchement électrique pour des familles en dettes victimes de coupure de courant.
Hier à Kipseli, le mouvement a re-branché la maison d'une femme âgée malade qui vit avec son fils au chômage. DEH avait coupé le courant pour non paiement des factures. Désespérée, la pauvre femme pensait vendre les meubles de sa maison afin de rembourser ses dettes !!! Le mouvement informé a décidé de l’aider : « Personne ne doit rester seul face à la crise » , "Aucun maison sans électricité » ! Opération péages gratuits ... 28/4/17 Manifestation à Athènes des patients atteints de sclérose en plaque : Mercredi dernier, les patients souffrant de sclérose en plaque ont manifesté devant le Ministère du Travail afin de faire valoir leurs revendications permanentes. INFLATION : + 1,7% EN MARS : L’Autorité de la statistique grecque ELSTAT a publié les prix du mois de mars.
Dijsselbloem: Income tax measures €1.8bn in 2019 if Greece misses targets. In a letter to the members of the Eurogroup, chief Jeroen Dijsselbloem summarized what was agreed upon at the meeting in Malta on April 7th 2017.
In his letter Dijsselbloem reveals also what the Greek government agreed on the implementation of the additional austerity measures scheduled to be implemented in 2019 and 2020, after the current Greek program concludes in August 2018. The key element is that that the Eurogroup and the Greek government agreed that lowering the tax-free basis can be implemented a year earlier if the targets are not met. What Dijsselbloem describes as reforms is a package of 3.6 billion euro austerity measures. 1.6 billion euros – 1% of GDP- in pension cuts to be implementing in 2019 and 1.6 billion euros -another 1% of GDP – in additional revenues by lowering the tax-free basis to some 5.600 euros annual income.
Greece’s Never-Ending Fiscal Drama. By Simon Nixon Wall Street JournalFebruary 9, 2017.
Greece has three weeks to deal with 'potentially disastrous' debt, says IMF. Greece’s embattled government has three weeks to break the deadlock in increasingly difficult talks with creditors or risk the country’s debt crisis resurfacing with renewed vigour.
Faced with the dilemma of agreeing to additional austerity or calling fresh elections, prime minister Alexis Tsipras was weighing his options at the weekend. Fears of further uncertainty in Europe’s weakest member state mounted as the International Monetary Fund (IMF) predicted that Greece’s debt load could become “explosive” by 2030. “It is critical that a compromise is found,” said Aristides Hatzis, professor of law and economics at the university of Athens, noting that a slew of elections across Europe would only make Greece’s predicament worse. Two options for Greece’s government: Capitulate to Lenders or Early Elections.
Posted by keeptalkinggreece in Economy, Editor The Eurogroup meeting on Thursday ended for Greece as expected: highly stubborn creditors putting immense pressure on Greece to legislate austerity measures that will be implemented in after 2018 now.
The finance ministers of eurozone demand with superabundant insolence from Greece what they would never do in their own countries: to present measures ensuring budget targets set for 2018 and the following years. And this despite the government objections as the Greek Constitution forbids such actions. Key fiscal differences lower expectations for Eurogroup.
In comments during a television interview on Wednesday night, government spokesman Dimitris Tzanakopoulos appeared to rule out one of the rumoured compromise solutions between Greece and its lenders ahead of Thursday’s Eurogroup.
There has been reports, and rumours swirling in Athens, that Finance Minister Euclid Tsakalotos might be offered a comprehensive compromise package that would involve the Greek government legislating the measures demanded by the International Monetary F... You need a subscription to access our analysis. Le FMI ne demande pas plus d'austérité à la Grèce. Maurice Obstfeld et Poul M. Thomsen 12 décembre 2016 La Grèce fait de nouveau la une, tandis que s’accélèrent les discussions sur le deuxième examen de son programme lié au Mécanisme européen de stabilité (MES). Malheureusement, ces échanges s’accompagnent aussi d’une relative mésinformation sur le rôle et les positions du FMI.
» Grèce : le ton monte entre l’Eurogroupe et le gouvernement, par Romaric Godin. Source : La Tribune, Romaric Godin, 15-12-2016 Wolfgang Schäuble, ministre des Finances allemand, et Klaus Regling, président du MES, n’ont pas apprécié les annonces d’Alexis Tsipras. (Crédits : Reuters) Les créanciers européens de la Grèce ont suspendu les mesures prises sur la dette la semaine passée pour répondre aux décisions sociales annoncées par Alexis Tsipras. Ce dernier est une nouvelle fois menacé d’une humiliation cuisante. Alexis Tsipras aura donc dû boire le calice de l’humiliation jusqu’à la dernière goutte. Un gel sans importance ? « Les institutions sont arrivées à la conclusion que les actions du gouvernement grec semblent ne pas être en ligne avec nos accords », a indiqué un porte-parole du président de l’Eurogroupe, Jeroen Dijsselbloem.