Greece 'turning a page' as eurozone agrees debt relief

Greece 'turning a page' as eurozone agrees debt relief

The carrot offered for this "enhanced surveillance" will be annual disbursements from the profits that euro-area central banks made on their Greek bonds portfolio and the elimination of an interest-rate penalty charged on some bailout loans, according to the memo.

The European Stability Mechanism (ESM) holds more than half of the country's public debt and, as its biggest creditor, is keen to see Greece regain market access sustainably.

Shut out of debt markets in 2010, Greece is set to exit its global bailout program formally in August.

The agreement will end the eight-year debt-relief program for Greece, in which the country received 300 billion euros in three financial assistance programs as agreed in 2010, 2011 and 2015 in exchange for structural reforms and fiscal adjustments.

"Greece is turning a page, its debt is now viable", government spokesman Dimitris Tzanakopoulos said.

Eurozone Ministers on Thursday will try to resolve their differences over the terms of Greece's departure from its massive bailout programme with splits over the degree of debt relief needed by cash-strapped Athens.

Latest Kawhi Leonard trade rumors: Cleveland, Phoenix reportedly now in mix
However, now is a chance for the Raptors, under new head coach Nick Nurse, to create a new look team featuring Kawhi Leonard . Unfortunately, Dwayne Casey was the one who took the fall for their lackluster performance against the Cavaliers .

National Basketball Association draft -- Luka Doncic to attend draft after Real Madrid wins title
As an NBA scout told NBA.com's David Aldridge: "If they use him the right way, it's going to be real hard for him to fail". Doncic and Harden both have the ability to decelerate and change pace at the highest levels.

Starbucks set to close 150 stores
One area executives have targeted is wasted product, which costs Starbucks $500 million a year in the U.S. After seeing a slump in growth , the company has announced that it will be closing 150 stores in 2019.

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

Yields on Greek bonds dropped with the 10-year note falling as much as 1.01 percent at 11.57 am Athens time on Wednesday to nearly a month low, while the Athens Stock Exchange General Index rose as much as 1.1 percent in intraday trading amid optimism that euro-area finance ministers will reach a deal on Greece on Thursday.

"We will ensure that the pressure to implement further reforms remains strong.in the medium and long term", said Austrian Finance Minister Hartwig Loger. Athens will have to undergo quarterly reviews of its finances (more frequent than during the bailouts) and adhere to strict budget constraints.

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.

Greece "has fulfilled its obligations, and now the Eurogroup must keep its promises", MP Kindler said, calling for "substantial debt relief" for the troubled Mediterranean nation.

The International Monetary Fund welcomed the deal saying it would improve Greek debt sustainability in the medium term.

Related news:

Hot News

isis-killer-beheading-video-story-top Restaurant refuses to serve Trump spokeswoman
Jun 25, 2018 - 09:25
Stephen Russek, a former restaurant owner in the area, said "they had no right to do that". "They ought to be shut down". Despite that, according to Freidman, people actually called his Italian-influenced restaurants threatening them.

isis-killer-beheading-video-story-top English bulldog from Minnesota wins World's Ugliest Dog title
Jun 25, 2018 - 07:33
Ms Brainard found Zsa Zsa , who has an underbite and a noticeably long tongue, on a pet search website. Himisaboo, a Chinese Crested and Dachshund mix, walks onstage during the World's Ugliest Dog Contest.

isis-killer-beheading-video-story-top Colombia cruise past Poland to keep World Cup hopes alive
Jun 25, 2018 - 07:19
Colombia thrashed Poland 3-0 in their second group encounter of the FIFA World Cup 2018, at the Kazan Arena in Kazan to take all three points.

isis-killer-beheading-video-story-top Optus to offer World Cup matches from SBS after streaming problems
Jun 23, 2018 - 08:19
Optus also suggested that most of the problems were with customers using Apple devices and on broadband networks other than its own.

isis-killer-beheading-video-story-top Priest caught on tape violently grabbing & slapping baby during baptism
Jun 23, 2018 - 08:14
The horrified parents are at first anxious when the priest holds the baby in a vice-like grip to stop him from wailing. According to Kidspot in Australia, the man can be heard saying: "it's a tantrum, this is called a tantrum".

isis-killer-beheading-video-story-top ‘This is Nigeria’ - Super Eagles’ victory over Iceland sends Twitter into frenzy
Jun 23, 2018 - 08:10
The Super Eagles started the game in shy form, putting together a first half performance that was at times cold and even dicey. Both teams struggled to find any penetration in the first half, with Iceland only coming alive in the final couple of minutes.

isis-killer-beheading-video-story-top Trump Abandons His Policy Of Separating Immigrant Families
Jun 23, 2018 - 07:16
And it revises the longstanding preference for family visas in favor of a merit system based on education level and work skills. Republicans have never been able to pass a big immigration overhaul on their own, despite talking about the issue for years.

isis-killer-beheading-video-story-top Saudi Stock Exchange gets key MSCI upgrade
Jun 23, 2018 - 06:57
The Invesco MSCI Saudi Arabia Ucits ETF, will offer investors pure passive exposure to the largest economy in the Middle East. MSCI provides almost 100,000 daily indexes of stocks, bonds and other assets worldwide.

isis-killer-beheading-video-story-top Measure the length of objects using AR on any ARCore device
Jun 23, 2018 - 06:50
However, Google explicity states that measurements taken through the app are estimates, and might not always be 100% accurate. On launching the app, it will ask you to grant various permissions and provide information on how to use the tool.

isis-killer-beheading-video-story-top Leaked England line-up photo appears to show Sterling is out
Jun 23, 2018 - 06:46
Learn from the best as ESPN meets future England stars Phil Foden, Ryan Sessegnon and Mason Mount in Russian Federation . Sterling's problem, one Rashford may be able to exploit, is his lack of impact for England .

Melania Trump wears ‘I really don't care' jacket before visiting migrant children
Jun 23, 2018 - 06:05
The unusual jacket looked out of place in the wardrobe of the First Lady, who is known to impress in the sartorial stakes. Given that, her choice to wear the $39 Zara jacket as she headed on her unexpected trip to the border raised eyebrows.

isis-killer-beheading-video-story-top Ahmed Musa Stars As Nigeria Claim First Victory
Jun 22, 2018 - 23:14
If Iceland win their match agianst Croatia , Argentina will go through only if they have a better goal difference than Iceland . Iceland , the smallest country ever to play in a World Cup, were roared on by their travelling army of their fans.

isis-killer-beheading-video-story-top European Union says it will start to impose tariffs on United States on Friday
Jun 22, 2018 - 20:56
Canada was next at 22 percent, followed by Japan (21 percent), Germany (11 percent) and South Korea (8 percent). It's reported that Trump said the tax would be upheld until Fifth Avenue was devoid of Mercedes models.

isis-killer-beheading-video-story-top World Cup match report Uruguay v Saudi Arabia 20 June 2018
Jun 21, 2018 - 05:26
Luis Suarez made history for Uruguay as he inspired his country to a 1-0 victory over Saudi Arabia in their World Cup Group A clash.

isis-killer-beheading-video-story-top Cavaliers want to keop Kevin Love next season
Jun 21, 2018 - 05:00
All of this information is certainly exciting, however, keep in mind that LeBron has in no way made his decision yet. I was talking with my Dad when we mentioned the possibility of how Golden State can get better this off season.