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Greece’s downstream oil industry adapts to shifting demands
EconomyFeaturespeaked in 2007, and has been falling ever since. Additional taxes and shrinking disposable incomes... issue for a country which has refined petroleum and its products as its number one export product... crude oil suppliers will certainly disturb the careful balance to which Greece’s refining industry has
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Presidential shuttle diplomacy between Athens and Berlin
Agorawas a major takeaway from Obama’s Athens visit. As outgoing US president, he has taken the liberty.... What is rather uncertain at this point is the amount of leverage he has left in his remaining days..., will continue to remind the European creditors that Greece is the continent’s problem. He has
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Contrasting views on Cyprus breakdown; Greek role under scrutiny
PoliticsForeign Policydifficulties in efforts to reach a solution. The Greek and Greek-Cypriot sides believe that Turkey has... Cypriot side has hinted that the Greek side played a damaging role by insisting on the withdrawal... as well. and this has been supported by some press reports in the Greek Cypriot papers. This may be why
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Having failed to resolve differences, Greece and lenders enter new week of talks
EconomyProgrammeto the funding of the guaranteed minimum income (GMI). Its funding for next year has been resolved. Regarding... application has to be approved by 60 percent of creditors. Meanwhile, European Commissioner..., Moscovici said that significant progress has been made on the second review and technical details
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EU officials see Greek deal close, broad debt talks to follow
PoliticsGreek Politicsto be implemented in 2019 and 2020, Moscovici insisted that any decision has to be within the framework... of the key debates in the Eurogroup,” said Dijsselbloem of the primary surplus issue. “The IMF has... and others have said it is necessary given that Greece has to comply to the growth and stability pact, which
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Newsletter 100 - 16/12/2016
moved up a notch again on Wednesday when the European Stability Mechanism revealed that it has put... Tsipras last week. The ESM said the debt relief process has been put on hold as the institutions... assistance (ELA) funding by 2.06 and 1.24 billion, respectively. Since last May, ELA funding has
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Shaping the post-programme narrative in Greece
Agoraof a dystopian political environment in Greece. The post-programme policy debate has thus started in earnest... has consistently withheld a decision about its own financial participation in the programme..., the Fund is the second largest source of institutional financial assistance to Greece. It has
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IMF sets out its stall as review deliberations resume in Athens
EconomyProgramme.” The IMF argues that although Greece has undertaken a huge fiscal adjustment in recent years, it has..., with the poverty rate for the working-age population rising sharply since 2010, while that for pensioners has... and the eurozone partners may involve a higher fiscal target than the Fund has proposed for a while. However
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The IMF and Greece's bitter pill
Agoracriticised over its involvement in the first two Greek programmes, the IMF has remained on the sidelines since the start of 2015, although it has been heavily engaged in talks. During this time, it has made... Greece has to stack more measures that the IMF believes will kill off demand and growth in the short
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Tsipras wins domestic support for pension bonus but key struggles lie abroad
PoliticsGreek Politicsto 1.6 million pensioners and knowing that he has put main opposition party New Democracy... making a move that has some appeal to voters, Tsipras also managed to put New Democracy... and Economic Affairs Commissioner Pierre Moscovici, and has a meeting with Merkel lined up in Berlin
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