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12/06/2018

12
Jun

Moscovici calls for front-heavy measures to ease Greek debt

What Greece needs in order to gain full access to the money markets is debt relief through significant, front-heavy measures that will enhance confidence in the local economy, European Commissioner for Economic and Monetary Affairs Pierre Moscovici told Kathimerini in an interview published on Tuesday.

The French politician added that after the program ends Greece will be subject to increased surveillance, though not a precautionary credit line.

He also appeared certain that a total agreement will be made at the June 21 Eurogroup meeting

Source: kathimerini.com

12
Jun

Greece, Macedonia close to deal on name dispute: Greek government sources

The row has blocked the tiny Balkan state’s hopes to join the European Union and the NATO military alliance. Both sides have aimed at settling the dispute before an EU summit in late June.

Greek Prime Minister Alexis Tsipras and his Macedonian counterpart Zoran Zaev are expected to discuss the issue over the phone on Tuesday.

“A deal could be announced even today,” said a Greek government official who declined to be named.

 

Source: link

12
Jun

Germany Wants Greece to Get Financial Buffer, Not Debt Relief:SZ

Germany Wants Greece to Get Financial Buffer, Not Debt Relief:SZ

(Bloomberg) — Cash buffer would be used to settle financial obligations and reduce debt relief from 2019 onwards, Sueddeutsche Zeitung reports, citing unidentified German officials and a document of European negotiators made available to the newspaper.

  • According to estimate, for every EU5b provided, debt relief including loan extensions could be reduced by 2 years

  • IMF wouldn’t participate in credit program, according to an internal agreement

  • Financial buffer would allow Greece to service all loans to European countries and the IMF until 2022, or after the next Bundestag elections because of opposition in German parliament to debt relief

  • Existing EU proposal for an EU11b financial cushon would have to be increased

  • Proposal is one of several options being reviewed, including one where EU would acquire IMF loans

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