Greece
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Greek Bailout Program

ECB's Nowotny: Turn ESM into European Monetary Fund for Greece's Bailout

Veteran European Central Bank policymaker Ewald Nowotny has backed turning the European Stability Mechanism (ESM) into a IMF-styled lender and for it taking over from the ECB in Greece's bailout programme. "The ESM might turn into a 'European Monetary Fund',...

Schaeuble Agrees on Short-Term Measures for Greece's Debt Relief

The European Stability Mechanism (ESM) is currently working on proposals for the implementation of the agreed short-term measures regarding the Greek debt relief, Dennis Kolberg, the spokesman of German Finance Minister Wolfgang Schaeuble, said in exclusive statements to the...

Greece Needs Additional Austerity Measures and Reforms to Get Debt Relief, Says ESM Managing Director Klaus Regling

While the voices calling for the “haircut” on the Greek debt are growing ever stronger, European Union (EU) officials remain steadfast, sticking to their position that what is of the utmost importance right now is the implementation of the...

EU Commission Recognizes Important Steps in Greece

The completion of the second batch of prior actions along with the successful implementation of the first batch and the recapitalization of the banks constitute "significant steps for restoring the credibility and confidence," EU Commission Annika Breidthardt said on...

EFSF's Regling: 'The Greek Program Will Not Proceed Without the IMF'

Two of the most powerful men in the Eurozone, Klaus Regling, head of the EFSF and ESM and Thomas Wieser, head of EuroWorking Group, believe that the third Greek bailout program will only work with the participation of the...

German Dep. Foreign Minister Roth: 'We Want to Strengthen Greece'

"Germany has a central role, but not a hegemonic role in Europe," German Deputy Foreign Minister for European Affairs Michael Roth said in an interview with ANA-MPA. "Germany is a strong player in a team of 28 members states and...

IMF Disappointed With Lack of Reform Implementation in Greece

A recent IMF analysis noted that there have been major delays in the implementation of reforms in Greece, due to the election that took place in September, as written by a journalist in the German news magazine Der Spiegel. The...

100 German MPs Gathering Signatures for Grexit

More than 100 members of German Chancellor Angela Merkel’s political party are gathering signatures in an attempt to oppose their leader, in case she brings a third bailout program to Bundestag. According to the Times, there is an ongoing rebellion...

Economist Krugman: I Would Vote 'No' in Referendum

Through a New York Times blog post published on Sunday evening, the Nobel Prize-winning economist Paul Krugman urges the Greek people to vote "no" in the upcoming referendum regarding their creditors' bailout terms. In his article, Krugman expresses his personal...

Obama and Hollande to Join Forces for Greek Crisis

United States President Barack Obama and French President Francois Hollande had a phone conversation on Monday, in which they reached an agreement to increase their cooperation in restarting dialogue on a Greek bailout program, a source close to Francois Hollande revealed. "They...