Greece

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Greece Won’t Reach Budget Targets After 2018, Tsipras Says

Greece’s Prime Minister Alexis Tsipras said the country won't be able to reach its primary surplus budget target after its current bailout program expires in 2018 and called on the creditors to renegotiate for lower goals, The Wall Street Journal ...

Daily Headline - global.abi.org - 07/07/2016 - 23:02 - 0 comments

Greek Bank Clean-Up Trio Resign

The three top executives at Greece’s bank rescue fund resigned on Wednesday as the country’s Syriza-led government buckled under pressure from the international creditors eager to accelerate a clean-up of the financial sector, the Financial Times rep ...

Daily Headline - global.abi.org - 07/06/2016 - 22:40 - 0 comments

News Alert: Amendment to Greek Law on NPLs

Law 4354/2015 with full English translation (as amended by Law 4389/2016) The new framework includes provisions on: The disposition of both performing and non-performing loans; Tax incentives for the acquisition of claims; *A new amendment is e ...

Resource Article - twallace@abiwor... - 06/29/2016 - 11:06 - 0 comments - 0 attachments

The Legal Framework for Non-Performing Loans in Greece

The Greek Parliament has passed legislation (Law 4354/2015) to govern the assignment and/or the transfer of Non Performing Loan claims (NPLs), including provisions on: • Obtaining a license from the Bank of Greece for Debt Management Companies and D ...

Resource Article - twallace@abiwor... - 06/28/2016 - 12:53 - 0 comments - 1 attachment

ECB Restoring Greek Banks’ Access to Cheap Funding

The European Central Bank said Wednesday it would start accepting junk-rated Greek government debt as collateral for the ECB’s regular lending to banks, reopening a cheap funding channel that could help breathe life into Greece’s struggling economy, Th ...

Daily Headline - global.abi.org - 06/22/2016 - 19:57 - 0 comments

Greek Central Bank Warns On Growth-Harming Taxes

Greece’s central bank has warned that new taxes introduced by the leftwing Syriza government in return for more bailout aid could derail the country’s chances of ending a seven-year-long economic contraction amid rising discontent with government policie ...

Daily Headline - global.abi.org - 06/15/2016 - 21:33 - 0 comments

Greece Central Bank Chief Calls For Bailout Overhaul

Greece’s central bank governor has urged the country’s creditors to rework a core element of Athens’ new bailout, saying ambitious budget surplus targets agreed with the leftwing Syriza government are “unrealistic and socially unattainable.” Yannis Stour ...

Daily Headline - global.abi.org - 06/13/2016 - 22:28 - 0 comments

Painful Choices Still Hang Over Greece

Is there a path towards making Greece a successful self-financing economy within the eurozone? What would be required to put it on that path? These are the big questions about the economic plight of Greece and its ghastly relations with its partners, the ...

Daily Headline - global.abi.org - 06/07/2016 - 21:19 - 0 comments

In Greece’s Economic War of Attrition, Tsipras Counts on Peace

From street protests and collapsing governments to eleventh-hour deals and financial lifelines, Greece has gotten used to lurching from crisis to crisis during its endless economic meltdown, Bloomberg News reported. Prime Minister Alexis Tsipras is relyi ...

Daily Headline - global.abi.org - 06/06/2016 - 21:53 - 0 comments

Greek Debt Deal Reflects Shifting Powers Among IMF Members

The International Monetary Fund stepped back from confrontation on Greece this week — to the delight of eurozone policy-makers above all in Berlin, the Financial Times reported. After months of squaring up against Germany over the fund’s insistence o ...

Daily Headline - global.abi.org - 05/27/2016 - 01:44 - 0 comments

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