AFP - The International Monetary Fund warned Athens Thursday to firm up its broad financing plans and policy actions to be able to continue receiving IMF bailout funds in concert with the European Union.
The International Monetary Fund warned Athens to firm up its broad financing plans and policy actions to be able to continue receiving IMF bailout funds in concert with the European Union.With Athens warning it will go bankrupt without the next 12-billion-euro installment from a joint IMF-EU rescue program, IMF spokeswoman Caroline Atkinson said the Fund needed "assurances" on how the country will fund its future to continue giving it support.
The International Monetary Fund has called for “upfront” and “unconditional” debt relief for Greece as it warned that without immediate action the financial plight of the recession-ravaged country would deteriorate dramatically over the coming decades, reports The Guardian.
Just when everyone was convinced that the main "risk off" event of the summer, namely the Greek bailout, was safely tucked away and that having abdicated its sovereignty to its creditors and Germany in particular, who now hold the Greek banking system hostage courtesy of draconian capital controls, that Greece would continue to receive its monthly cash allotment just so it could repay creditors from its first two bailouts and would not make headlines for the foreseeable future , Market News just reported that suddenly even
London (AFP) - Europe's main stock markets fell on Thursday ahead of crunch European Union talks over Greece, as hopes faded of a deal between Athens and its creditors over bailout repayments, dealers said.
ATHENS, Greece — Tens of thousands joined anti-government protests across Greece Thursday as the country was crippled by a general strike against painful pension reforms demanded by bailout lenders.
In Athens, police said some 40,000 people joined rallies that ended with a brief outbreak of violence when anarchist protesters hurled rocks and petrol bombs at police outside Parliament.
Earlier today, German police reported that a militant Greek group called Conspiracy of Fire Cells claimed responsibility for the attempt to kill Germany's finance minister Wolfgang Schauble with a package full of explosives that was mailed to the German Finance Minister. The parcel was mailed to Schaeuble from a post office branch in Athens but as discussed previously, was intercepted by the German finance ministry's mail department. Luckily, nobody was hurt.
Greece needs to avoid across-the-board budget cuts that disproportionately hurt pensioners and employees as it moves into the next phase of its bailout and tries to restore growth, the International Monetary Fund said.
Three years after receiving its first international bailout, with a debt burden that is still too high, Greece needs in-depth changes to its economy to both meet its fiscal targets and attract investors, the IMF said.