Greek PM says country turning a page with debt deal

25 June, 2018, 09:26 | Author: Gerard Cortez
  • After €300 billion in aid, Greece will exit its bailout on shaky ground

A deal to ease Greek debt has always been seen as a key ingredient in the country's successful return to economic health and foray back into financial markets.

The EU is stressing that Greece's debt problem, which triggered a credit crisis in the region, is over.

"It is a deal which reflects the moral duty of our partners in response to the sacrifices of Greek people over the past eight years, so that the euro zone remains undivided", Greek Prime Minister Alexis Tsipras said during a meeting here with President Prokopis Pavlopoulos to formally brief him on the outcome of Thursday's talks in Luxembourg.

In addition, the Euro group gave the green light to release to Athens a 15 billion euros (17.4 billion US dollars) final loan installment of the 86 billion euro package sealed three years ago, which will be used to cover some of its debts to the International Monetary Fund and the European Central Bank.

Finance Ministers Euclid Tsakalotos told reporters the deal made Greek debt viable again and paved the way for a return to market financing.

Eurozone states have agreed on a plan that they say will allow Greece to exit its eight-year bailout program and make its massive debts more manageable.

Coutinho, Neymar score in injury time for Brazil
In the end, Brazil found the net with Philippe Coutinho prodding home a late victor through the legs of Keylor Navas . Similarly, Neymar became used to Brazilian referees giving him a free kick for every minor contact and fall.

Greece will also receive an additional €15 billion on repayment of some more-expensive International Monetary Fund loans, as well as to create a cash buffer so that it could meet financing needs in the next two years.

Athens faces bond repayments of around 7 percent of its output next year, the first after its third bailout ends in August. The profits came from a range of deals - including the Securities Market Program (SMP), a now-defunct bond-buying program initiated by the European Central Bank in 2010 that Germany and other members of the eurozone backed to keep Greece's economy afloat, according to German Press Agency (DPA).

"We believe that the adoption of the set of debt measures agreed by the Eurogroup will improve debt sustainability in the medium term".

An activist who urged Greeks not to pay their taxes, claiming he had access to enough money to pay off the country's enormous debt, has been remanded in custody pending trial on criminal fraud charges.

But IMF Managing Director Christine Lagarde said the Fund maintained some reservations about it in the very long term, when assessed until 2060 and therefore welcomed the readiness of the euro zone to do more if an adverse economic scenario were to materialise over the coming decades.

The eurozone ministers' agreement comes almost a decade after Athens finances spun out of control, sparking three bailouts and threatening the country's euro membership.



Kane fires England to record 6-1 win against Panama
But they all count, and long may the 24-year-old's fine scoring form continue. It's nice it's a game where we're not up to our neck in pressure.

Fallen Kingdom Tracking Well Behind The Original
What did Chris Pratt , Bryce Dallas Howard , Jeff Goldblum, Justice Smith , Daniella Pineda , and director J.A. Ian Malcolm Perhaps there have been too many Jurassic Park movies, just throwing that out there.

Romelu Lukaku, Eden Hazard give BEL big win
Belgium took the lead inside six minutes, Eden Hazard converting a penalty after he had been brought down by Syam Ben Youssef. Against England on Thursday, Belgium will be favoured to advance as the winners of Group H.

S. Korean opens probe into hacking attack on top crypto exchange
Before the Bithumb hack , the market appeared to be recovering as it gained more than $12 billion in total market capitalization. Shortly thereafter, Bithumb revealed that it would be suspending all of its withdrawal and deposit services.

Apple iOS 12 will share iPhone user’s coordinates during 911 emergency calls
That program, launched in 2015, uses cell towers and Wi-Fi access points to determine a 911 caller's approximate location. Apple has recently unveiled the annual upgrade to its iOS mobile operating system - the iOS 12.

China Warns US of 'Countermeasures' Against Possible New Tariffs
The move was a response to Trump's decision to add a 25 percent tariff on $50 billion worth of Chinese goods last week. The markets reacted badly with China's Shanghai Composite faring the worst in Asia, ending the day down 3.8%.

Fans loved Senegal's celebrations after World Cup win
He is the youngest manager in the dugout at this year's edition, and the only black coach on the tournament's sidelines. Following their 2-1 upset win over Poland on Tuesday, players from Senegal broke out an awesome choreographed dance.

Gregg Popovich meets with Kawhi Leonard
Buford are looking to move forward with the less-than-ideal task of sorting out Leonard's future. However, that could be mitigated if they prove to present San Antonio with the best offer.

Luis Suarez makes history with victor over Saudi Arabia as Uruguay progress
Russia's 3-1 win over Egypt on Tuesday means both they and Uruguay have collected maximum points from their two Group A games. Luis Suarez netted the match's only goal in the 23rd minute in his 100th global for Uruguay .

Will GOP immigration bill stop family separations at border? Critics say no
But this set of rules for minors - and the White House's objections - existed well before the new zero tolerance policy . And a source in the conservative Freedom Caucus source was even harsher: "It's a total miscue from the administration ".