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Athens eyes ample cash buffer, prepares for bond swap
EconomyProgrammeSpeaking to a parliamentary committee on Wednesday, Alternate Finance Minister Giorgos Houliarakis highlighted the government’s plans for creating an ample cash buffer before it exits the third programme next summer.
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Debt relief-for-reforms option being discussed for post-programme era
EconomyProgrammeGreece’s lenders are discussing the possibility of reaching an agreement with Athens to link debt relief to future reforms after the end of the third programme, a eurozone official told journalists in Brussels on Tuesday.
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Revision sees 2016 fiscal surplus at 0.5 pct of GDP
EconomyMacroeconomyAs part Greece’s obligation in relation to the Excessive Deficit Procedure (EDP) notification of 2017, Greece’s statistical authority, ELSTAT, announced on Monday the revised fiscal data for the 2013–2016 period.
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Review gathers pace as mission chiefs prepare for Athens return
EconomyProgrammeTechnical talks between the Greek government and the institutions have resumed in Athens ahead of the return of the mission chiefs to Greece on Monday amid efforts to complete the third review as soon as possible.
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Energy, defence high on agenda as Tsipras prepares for US visit
PoliticsForeign PolicyPreparing for his visit to Washington on October 17 will top the agenda for Prime Minister Alexis Tsipras’s office this week.
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Eurobank sells NPL package in attempt to reduce bad debt pile
EconomyBankingEurobank became the first Greek systemic bank to sell a package of non-performing loans (NPLs) as Greek credit institutions attempt to tackle non-performing exposures (NPEs) in excess of 100 billion euros in their balance sheets.
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Athens outlines 2018 debt management plan for post-bailout era
EconomyMacroeconomyIn the draft 2018 budget submitted to Parliament on Monday, the Greek government outlined parts of its strategy for debt management next year and in the post-programme era.
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Rating agencies concur in improved prospects for Greece
EconomyThe June 15 Eurogroup agreement that concluded the protracted second review of Greece’s programme became the catalyst for the three main rating agencies to update their ratings, or the outlook, for the country.
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Fitch upgrades Greek rating to B-, sees debt sustainability improving
EconomyFitch on Friday became the latest agency to upgrade Greece’s long-term credit rating, raising it to B- from CCC with a positive outlook.
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Tsipras eyes expansionary measures in 2019 as he starts building post-MoU narrative
PoliticsGreek PoliticsPrime Minister Alexis Tsipras gave a wide-ranging televised interview on Wednesday night in an apparent attempt to build on Tuesday’s bond issue and make one last attempt to win back some support before things wind down for August.