Greece shrugs off debt relief delay, seems confident of deal

"The German finance ministry does not want to specify mid-term debt (relief) measures to the extent required by the IMF", Tzanakopoulos said. It is also important to restore investor confidence in Greece, especially if the country, which has public debt of nearly twice the size of its GDP, is to return to market financing.

Greece's global lenders failed to reach a deal on Monday on additional debt relief measures for Athens after an 8-hour meeting in Brussels, the head of the eurogroup of eurozone finance ministers said.

The ministers and the International Monetary Fund agreed Greece would keep a primary surplus - the budget balance before debt servicing - at 3.5 percent of GDP for five years after the end of the bailout in 2018, before the surplus can fall.

The IMF is demanding that the eurozone provide a detailed commitment to debt relief that Greece will adopt at the end of its current bailout programme, expected at the end of 2018.

In a sign of a possible concession from both sides, Dijsselbloem said there had been "full agreement that the 3.5% primary surplus should remain for five years" and eventually fall, although he did not specify a figure.

The appeal came on the eve of a meeting of eurozone finance ministers in Brussels that will discuss the issue.

"I hope that we will reach a solution today that ends this politically", German Finance Minister Wolfgang Schaeuble said.

Hamilton wins Spanish GP ahead of Vettel
The pair were involved in a thrilling tussle, both in strategy and wheel-to-wheel action on track. The virtual safety vehicle was deployed and Hamilton essentially got a free pit stop.

Nine more victims of Manchester bomb attack are identified
Jane Tweddle-Taylor, 51, a school receptionist, was at the arena with a friend to pick up the friend's daughter, the BBC says. Leczkowski's mother Samantha and grandmother Pauline, who had 15 hours of surgery to remove shrapnel, are among the injured.

China's Xi says willing to help end rift with South Korea
In return, Moon's sending of Lee Hae-chan as a special envoy to China is another sign of both countries' intentions to build bridges.

"Our country. has fulfilled its obligations totally and on time", Greek Finance Minister Euclid Tsakalotos said on Sunday ahead of the crunch talks, which begin in Brussels at 1300 GMT. The Greek government had hoped that Monday night's meeting of the eurozone's 19 finance ministers would at least have seen it cleared to get the money after it legislated for further cuts and reforms last week to meet creditor demands.

The issue is particularly sensitive in Germany, where more debt relief for Greece is seen as a vote loser in the run-up to general elections in September.

While Mr Le Maire said it is "important there be a solution that reassures the Greek people and of course reassures Greece's creditors", Mr Schaeuble insisted that "structural reforms are the decisive thing" to improve Greek growth. He said Monday that Greece still has a few actions to undertake while the institutions overseeing the country's bailout still have to make some checks.

In general, the International Monetary Fund believes European creditors are being far too optimistic and that more debt relief will be needed.

Among the options listed is the extension of maturities on euro-area loans to Greece, as well as the capping and deferral of interest payments. The IMF has raised doubts about Greece's ability to maintain such an optimistic budget performance for decades, while key creditors have been pushing for a more positive outlook.

Discussions over providing more bailout funds had stalled after a review mission to Athens returned in December without reaching a deal.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

Minute's silence for Manchester
The attack also injured 116 people, of whom 23 remain in a very serious condition in hospital, according to health authorities. And community members came together in Centenary Square in Bradford to remember Monday night's victims.

Tornado watch for Tift, surrounding counties
Charleston, Berkeley, Dorchester, Colleton, Beaufort, and Jasper Counties were dropped from the watch shortly before 4 p.m. Marson says that an "all clear" siren is not blown because no really can be sure that conditions are all clear.

Rouhani says regional stability impossible without Iran
Saudi Arabia immediately cut diplomatic ties and other Sunni Arab countries in the Gulf have taken a harder line on Iran since. Rouhani said in a press conference in the presence of over 300 domestic and foreign reporters in Tehran on Monday.

Egypt blocks several news sites including Jazeera
Saudi media slammed the alleged statement describing Shiite-dominated Iran as a "stability guarantor" in the region. Meanwhile, Doha blamed unidentified hackers for taking control of QNA's website and publishing fake news.

Florida in Dallas scheduled for 3:30 p.m
Speaking of corporate sponsorship, this game is the ninth AdvoCare Classic event and the third to feature a Big Ten vs. The Jags also played a close game against the Tennessee Volunteers in 2013 that went to overtime in Knoxville, Tenn.

Trump administration sending Congress $4.1 trillion budget
Congressional Republicans generally favor cutting domestic spending to help pay for increases in defense and tax cuts. The Trump budget targets the disabled not just through Social Security Disability, Medicaid , and food stamp cuts.

Strong winds cause multiple power blackouts across BC
By Wednesday afternoon, BC Hydro said crews were working on restoration with 19,000 customers still without power in the province. Hydro crews were also repairing downed power lines on Vancouver Island, the Central Interior and the Okanagan-Kooteney regions.

Spieth seeks rebound in form for Colonial title defence
He had last weekend off to put in some work with his team at Dallas National and the results were promising by all reports. Spieth will have a second shot to get back into the groove in the metroplex this week and recent history is on his side.

Every Theresa May U-turn since she became Prime Minister
May even used her appearance on the One Show with husband Philip to say that she had a "stable" childhood. We will make sure there's an absolute limit on what people need to pay.

Appeals court deals blow to Trump administration travel ban
That means the court was not directly ruling on the travel ban's constitutionality. Technically, the Fourth Circuit didn't fully uphold the lower court's order.

Chicago Loses Population For 3rd Consecutive Year
It's not just about "providing talent for the companies", Considine said, "but also providing the opportunities for the people". Chelsea is joined by Helena, Calera, Trussville and Moody among the top 10 fastest growing cities in Alabama from 2015 to 2016.

STARWOOD PROPERTY TRUST, INC. (NYSE:STWD) Valuation According To Analysts
Perhaps, that suggests something about why 1.92% of the outstanding share supply is held by institutional investors. Liberty Property Trust ( NYSE:LPT ) traded up 1.20% during midday trading on Tuesday, reaching $41.39.

US diplomat: China tightened border controls with N. Korea
At the same time, the vast majority of visitors to the country hail from China . The U.S. tests its ICBMs about twice every year.

WBI Investments Inc. Takes Position in GameStop Corp. (GME)
To gauge your chances of picking a winning stock, take a close look at its fundamentals, especially its earnings-per-share growth. Synchrony Financial (NYSE:SYF) have shown a high EPS growth of 3.50% in the last 5 years and has earnings growth of -12.30% yoy.

Fox removes report from website about murdered DNC staffer
Rich's family already sent a "cease-and-desist" letter to Wheeler through their lawyer, Joseph Ingrisano. Hannity stoked that speculation again Tuesday, promising an announcement about "my future at Fox".


More News

News
More News