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.
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
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.
ATHENS: Hopes that Greece and its creditors can seal a debt deal with exactly one week left to avert default could fade as the Greek premier faces pressure to convince his anti-austerity party to approve concessions needed to unblock bailout funds. "We are very near (an agreement), the next 48 hours will be decisive," said Greek government spokesman Gabriel Sakellaridis, after Monday's emergency eurozone summit ended with an optimistic assessment of Athens' latest proposals to its European Union and International Monetary Fund creditors.
Last Saturday, the EU finance ministers who gathered in Brussels in a last ditch effort to keep Greece in the eurozone were forced to confront a rather inconvenient truth. A bailout for Athens would likely cost nearly €80 billion, far more than the €53 billion figure mentioned in the draft proposal submitted by Alexis Tsipras two days earlier. The revised figure included a €25 billion provision for the recapitalization of Greece’s ailing banking sector. A day earlier, we warned that the banks would need at least €10 billion and likely more - “don’t tell Merkel”, we warned.
Athens (AFP) - Greece is due to make its 459 million euro ($495 million) April loan payment to the IMF Thursday following days of uncertainty, but the European nation's ability to honour its debts remains a source of acute anxiety to creditors.
ATHENS — Greek municipal workers went on strike for the second day Tuesday to protest their inclusion in a government plan to reduce the number of civil servants and meet criteria for the country to continue receiving vital funds from its international bailout.
Up to 3,000 striking municipal workers marched through the streets of central Athens in their second demonstration in as many days to voice their objections to the civil servants’ reduction scheme.