creditors

1 Billion Euro Greek Bailout Installment Faces New Problem

The final disbursement of the first part of the three year 86 billion euro Greek bailout could be undermined by an ongoing disagreement between the Greek government and its creditors. While the Euro Working Group, the preparatory body of the...

Canadian DBRS Upgrades Greece's Credit Rating

The Canadian ratings firm DBRS has upgraded Greece credit rating from “CCC” to “CC.” At the same time, the agency pulled the country out of status review and set a steady trend in all evaluations. According to DBRS, this bailout...

Greek Gov't Reaches Agreement With Creditors, Negotiations Over

The discussion between Athens and the creditors is expected to come to an end on Saturday, December 12, when the new multi-bill will be submitted to Greek Parliament. The bill will include the 13 prerequisites that will green-light the...

Thorny Issues Remain Unresolved in Greece-Creditors Negotiations

The opening of the energy market, the privatization fund and the management of bad loans are the issues stalling negotiations between Greece and creditors. The issues need to be resolved by Friday night at the latest, otherwise Athens will be...

Creditors Give Greece List of Prior Actions to be Completed by Friday

Greece's creditors gave Athens a list of 13 prior actions that must be legislated by December 15 in order to unlock 1 billion euros of further financial aid. The representatives of the four lenders - the European Commission, European Central...

Greece at Risk of Colliding with Creditors, Wants IMF Out of Bailout Program

Greece is at risk of colliding with international creditors for delaying the implementation of the reforms required by the bailout program, that should have been completed in October. The security fund reforms that should have been voted in parliament by...

Greece and Creditors Agree on Second Package of Prior Actions

Greece and creditors have agreed on the second batch of prior actions required for the first bailout program review. The actions need to pass in Greek Parliament by December 8. According to Kathimerini daily, the prior actions include: Establishing an independent...

Greek 'Red' Loans to be Sold to Foreign Distress Funds

Greece's creditors ask for a comprehensive bad loans settlement plan to be completed and legislated by December 15 as part of the bailout agreement requirements. After resolving the non performing mortgages issue, the Greek government has to present a strategy...

Excise Tax on Wine Makes Greek Gov't Dizzy, SYRIZA MP Resigns

The excise tax on wine that the Greek government has tabled in parliament caused reactions inside the SYRIZA-ANEL coalition putting the fragile majority at risk, as a ruling party MP resigns. SYRIZA MP and former government spokesperson Gavriil Sakellaridis resigned...

Greece-Creditors Agree to Save Only Poor Households from Auctioning

After hours of negotiating, Greece and creditors agreed that only the poorer families unable to pay their mortgages will save their homes from foreclosure, the measure applying to about 25 percent of people in debt. The meeting between Finance Minister...