IMF money for Greece contingent on debt buy back
WASHINGTON - The International Monetary Fund will not disburse Greece's next bailout tranche until the country completes a voluntary buy back of its debt, an IMF spokesman said on Thursday.
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Reuters
Euro Officials Reach Deal to Reduce Greek Debt
(BRUSSELS) — Greece is on its way to getting the next installment of its much-needed bailout loans after finance ministers from the 17 European Union countries that use the euro agreed on a program to reduce the country’s debt. The first disbursement will take place Dec. 13, said Jean-Claude Juncker, head of the eurogroup of finance ministers, which made the decision early Tuesday. Mario Draghi, President of the European Central Bank, welcomed the agreement. “It will certainly reduce the uncertainty and strengthen confidence in Europe and in Greece,” Draghi said. This was the third time in the last two weeks that finance ministers from the eurozone had tried to hammer out a deal on the next installment of bailout money — some €44.6 billion ($57.8 billion). The so-called troika of the European Central Bank, IMF and the European Commission, which is the 27-country EU’s executive arm, have twice agreed to bail out Greece, pledging a total of €240 billion in rescue loans — ...
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Greece to Get 2 More Years But Delay to Bailout
(BRUSSELS) — Greece‘s international creditors failed to agree Monday on how to get the country’s bailout program back on track and put off again the release of the next batch loans that Athens is using to pay its day-to-day bills. However, European finance ministers meeting in Brussels did decide to give Greece two more years until 2016 to reform its economy — one of the conditions of its bailout package. But they could not agree on how to pay for the extension or when the country’s debts would reach a manageable level. “Today a huge step has been made in order to secure the program on Greece, in order to enhance the confidence on the eurozone, in order to find a strong and definite solution for this question, which has lasted for more than two years now,” said French Finance Minister Pierre Moscovici, as he left the meeting of finance ministers from the 17 countries that use the euro. “We couldn’t do more today.” The European Central Bank, the International Monetary ...
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Euro Finance Ministers to Discuss Greece’s Future
BRUSSELS — Greece‘s international lenders have prepared a “positive” report on the country’s reform efforts – a crucial step in its efforts to secure the next installment of its bailout loan, the head the of group of finance ministers from the 17 euro countries said Monday. Jean-Claude Juncker, head of the eurogroup and also prime minister of Luxembourg, said one important issue remains unresolved: how much time Greece will be given to reduce its debts to a manageable level. Juncker said eurozone finance ministers meeting Monday evening in Brussels would discuss whether Greece should be given extra time to cut its debt to a sustainable level of 120 percent of its gross domestic product beyond the original deadline of 2020. Still, Juncker said, the report – prepared by the so-called troika of international lenders, composed of the IMF, the European Central Bank, and the European Commission, which is the European Union‘s executive branch – will show that Greece has made impressive ...
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Mystery group spends $1 million opposing Obama
Friday, October 19, 2012 - 10:25 David Greedy/Getty Images Little is known about "Citizen Awareness Project" in Colorado, which just spent nearly $1 million opposing Obama. Less than three weeks before Election Day, a new mystery group dropped nearly $1 million on an anti-Obama expenditure, according to records. Citizen Awareness Project appears to be a nonprofit organization. It reported the independent expenditure opposing President Barack Obama Thursday, according to a filing with the Federal Election Commission. The entire sum — $994,000 — was paid to Stephen Clouse & Associates Inc., a Virginia firm that specializes in raising money for its clients via direct mail, according to its website . The firm has produced marketing materials for the conservative Heritage Foundation and the Mercatus Center at George Mason University, both of which count billionaire businessman and financier of conservative causes Charles Koch as a board member. Citizen Awareness Project has no website ...
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