greece in final stretch for deal with creditors
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

PM Alexis Tsipras:

Greece in 'final stretch' for deal with creditors

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleGreece in 'final stretch' for deal with creditors

Prime Minister Alexis Tsipras
Athens - Arab Today

Greece is in the "final stretch" of talks for a deal with creditors on a new bailout, Prime Minister Alexis Tsipras said Wednesday as Athens faces another daunting debt deadline in two weeks.

"We are in the final stretch to conclude an agreement with the institutions," Tsipras said in televised remarks.

"Despite the difficulties, we hope this agreement can end uncertainty over the future of Greece and the eurozone," he added.

Greece needs a deal that will unlock bailout funds by August 20, when it must repay some 3.4 billion euros ($3.7 billion) due to the European Central Bank.

The Greek economy is also suffering from the effects of capital controls imposed last month to avert a bank run, a procedure that has badly disrupted trade.

The Athens stock exchange, which opened with a record drop on Monday after a five-week shutdown, was shedding 4.23 percent in afternoon trade on Wednesday.

Bank shares have been the hardest hit, trading near the maximum allowed drop of 30 percent for three straight days.

European Commission head Jean-Claude Juncker said Wednesday that agreement on the bailout was possible by August 20.

"All the reports I am getting suggest an accord this month, preferably before the 20th," Juncker told AFP in an interview.
Finance Minister Euclid Tsakalotos on Tuesday told journalists the high-stakes talks were going "at least as well as we expected", and that the possibility of an emergency loan for the ECB payment has not figured in the discussions.

- Autumn elections 'likely' -

Greek government spokeswoman Olga Gerovasili on Wednesday said the talks would continue to the end of the year, however.

"We will have implementation legislation, and points on which the negotiations will not even have ended until the end of the year, such as on labour and non-performing loans," she said.

Tsipras is under pressure from a sizeable minority in his radical Syriza party who say the rescue package he agreed to last month piles further austerity on a weakened economy and goes against the government's campaign pledges.

On Wednesday the prime minister said Greeks had to "adapt to the new circumstances" but insisted that his administration would continue to negotiate with the country's creditors to secure a "fair" distribution of tax pain.

In two successive reform votes last month, more than 30 lawmakers from the ruling Syriza party refused to approve the measures included in the bailout, which is worth up to 86 billion euros over three years.

With his popularity among Greeks still high, Tsipras has warned the dissidents of early elections in the autumn if they continue to resist the measures.
"Elections are likely in the autumn," Gerovasili told Vima radio earlier. "It mainly depends on how steady this government can be in the coming period."

Tsipras' main party opponent, euroseptic ex-energy minister Panagiotis Lafazanis, on Wednesday repeated his refusal to accept the new cuts.

"When the new memorandum comes to parliament, I will not vote for it," said Lafazanis, head of a Syriza faction called Left Platform.

"I imagine all the lawmakers associated with Left Platform will not vote (either)," Lafazanis said during a visit to Thessaloniki.

Greece on Wednesday raised 812.5 million euros ($890 million) in six-month treasury bills.
Source: AFP

themuslimchronicle
themuslimchronicle

GMT 08:11 2018 Wednesday ,17 January

BlackRock chief calls on CEOs

GMT 08:51 2018 Wednesday ,03 January

Banks 'reticent' to work with Sudan

GMT 08:36 2017 Sunday ,31 December

US tax reform to cut earnings by $5 bn

GMT 18:42 2017 Thursday ,28 December

Al-Sukait Tackles Investors’ Contribution

GMT 18:34 2017 Wednesday ,27 December

Shaath reveals opening date of Metro third line

GMT 09:52 2017 Tuesday ,12 December

Senate tax plan would boost revenue $1.8 tn

GMT 08:42 2017 Friday ,08 December

Post-Brexit London 'won't fall apart'

GMT 10:04 2017 Monday ,27 November

Brexit without EU trade deal 'not end of world'
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

greece in final stretch for deal with creditors greece in final stretch for deal with creditors

 



Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

GMT 21:49 2018 Tuesday ,23 January

Trump to tell Erdogan of concern over Syria offensive

GMT 08:26 2018 Tuesday ,23 January

Five things to know about Davos

GMT 16:13 2018 Sunday ,14 January

Netanyahu urges Macron to 'fix' Iran nuclear deal

GMT 10:17 2016 Thursday ,21 January

WHO confirms second new Ebola case in Sierra Leone

GMT 13:33 2011 Wednesday ,06 July

Russia bids to expand Arctic border to seek gas

GMT 09:06 2011 Wednesday ,21 September

Powerful typhoon hits Japan

GMT 11:15 2011 Wednesday ,03 August

2 glaciers in Nepal to disappear

GMT 19:01 2017 Saturday ,19 August

Finland suspect an asylum seeker, targeted women

GMT 02:45 2017 Wednesday ,08 February

Coup defeat a matter of time, says Yemeni VP

GMT 17:38 2017 Friday ,14 July

Saad Lamjarred denied issuance of new song

GMT 16:02 2011 Thursday ,21 April

Chelsea squad not good enough

GMT 11:29 2011 Tuesday ,19 July

Etihad Towers on track for delivery

GMT 02:05 2017 Wednesday ,22 February

UAE takes keen interest in supporting higher education

GMT 07:17 2017 Saturday ,01 July

Key US inflation measure declines in May
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle