News

Greece Planning €19B ‘Safety Net’ To Avoid More Loans

Date: 31.01.2018 / By John Smith / Greece.GreekReporter.com / Comments (0)
Greek Finance Minister Euclid Tsakalotos (foreground) with Greek PM Alexis Tsipras (R) (file photo)..

Greece is drawing up plans for its own €19-billion ‘safety net’, to avoid the need for more credit from international lenders, Athens’ finance minister has said.

Euclid Tsakalotos said the government wanted a clean break from its bailout program later this year, and added it would use leftover bailout funds and bond issues to avoid a new credit line, which would come with conditions attached.

His interview on Wednesday with the Reuters news agency, came as news broke of Greek six-month T-bills’ yield falling to 1.13 percent.

Greece’s debt agency PDMA said it had sold 813 million ($1.01 billion) in the bills on Wednesday.

Tsakalotos claimed the Greek fund would see the country through for 12 months, and maintained that the government was drawing up post-bailout plans to build reforms and encourage growth.

Greece’s governance has come in for recent criticism from Thomas Wieser, outgoing president of the Eurogroup Working Group, who has said the country’s crisis was administrative, not fiscal.

Wednesday’s interview also came as German media reported Prime Minister Alexis Tsipras being hopeful that a grand coalition government in Berlin — with a Social Democrat finance minister — will help Greece’s case for debt relief.

However, the Eurogroup has already warned that Greece must complete its bailout program before any debt relief.

Last month new Eurogroup president Mario Centeno told CNBC there are still “some intermediate steps” before debt restructuring talks with Greece begin.



http://greece.greekreporter.com/2018/01/31/greece-planning-e19b-safety-net-to-avoid-more-loans/

Reviews & Comments


GPE360.com (GreekPropertyExchange.com) has relaunched as the top Greek real estate and property website portal dedicated to Greece and Cyprus’ industry. GPE360.com’s members include top real estate agents, realtors, individual sellers, FSBO, sale by owners, architects, developers, construction companies, lawyers, notaries and others that advertise residential (house, home, land, apartments, flats, villas, land, parcels and commercial listings for those looking to buy, sell and rent across all of the Hellenic Republic. GPE360.com is like the MLS database portal that is advertised in the top Greek diaspora and international markets around the world to those looking to invest - including Australia, the United States, Canada, United Kingdom, Germany, France, Spain, France, Europe, South Africa, Russia and everywhere else. Most foreigners start their home search in popular destinations like Mykonos, Chania, Crete, Athens, Thessaloniki, Cyclades, Santorini, Rhodes, Corfu, Ios, Lefkada and many more cities, prefectures and regions in Greece. GPE360.com has been featured in most Greek news media outlets and in some of the leading international publications in newspapers, magazines, websites, online news portals, television and radio. Notable publications featuring GPE360.com and its founder, Georgios Stroumboulis include the Wall Street Journal, G1 Brasil, India Today, Barron’s, El Mundo, Naftemporiki, Kerdos, Isotimia, Vradyni, Elefterotypia, Elefteros Typos, Imerisia, Ta Nea, Ethnos, Neos Kosmos, GreekReporter.com, PappasPost.com, Voria.gr, Parapolitika.gr, MetroGreece.gr, People Greece, NewsBeast.gr, Radio Neo Show, Antenna ANT1 Satellite TV, MEGA TV, Makedonia TV, Channel 9 (Το Α και το Ω των ακινήτων). GPE360.com is the only real estate website to have produced its own reality TV show called Hellenic Home Hunting (www.HellenicHomeHunting.com). Created, produced and edited by George Stroumboulis’ media company, BouliBrand (www.BouliBrand.com), this TV show caused an international media storm for controversy during the unstable economy period in Greece. Visit www.GPE360.com for the latest property listings and start your search, register for an account to sell or simply browse our news. Stay connected with us on Facebook (www.facebook.com/gpe360), Twitter (twitter.com/gpe360), LinkedIn (https://www.linkedin.com/company/greek-property-exchange-gpe-), YouTube (https://www.youtube.com/user/gpe360), and Instagram (www.instagram.com/gpe360/). Use the hashtag #GPE360 and #HellenicHomeHunting.



featured on the front page of

The Only TV Show Promoting
Greek Real Estate to the World!
WATCH FIRST SEASON