Voices from Russia

Friday, 30 January 2015

Greece won’t Cooperate with “Troika”, Rejects Aid Extension

00 Vladimir Kremlyov. Greek Debt. 2012


The new leftist Greek government said that it won’t cooperate with the “troika” of international lenders, and that it doesn’t plan to seek an extension for its aid package, which is set to expire at the end of February. Without the aid, Greek banks could face a shutoff of European Central Bank funding. On Friday, Greek Finance Minister Yanis Varoufakis held a joint press conference with Jeroen Dijsselbloem, head of the Eurozone finance ministers’ group. Varoufakis said, “This position enabled us to win the trust of the Greek people. Our first action as a government won’t be to reject the rationale of questioning this programme through a request to extend it. We respect institutions, but we don’t plan to cooperate with that committee”. The meeting between Varoufakis and Dijsselbloem is to lay the groundwork for visits by newly-elected Prime Minister Alexis Tsipras and Varoufakis to London, Paris, and Rome next week. The new Greek leadership stated its intention to attempt to loosen the terms of the massive 240 billion Euro (19 trillion Roubles. 1.7 trillion Renminbi. 16.8 trillion INR. 270 billion USD. 343 billion CAD. 348 billion AUD. 180 billion UK Pounds) bailout. The new government fuelled panic among creditors and investors by promising to freeze privatisations and rehire state workers, in addition to rolling back other austerity measures mandated by the bailout.

30 January 2015




Friday, 10 February 2012

Euro Zone Postpones Greece Bailout


Euro Zone finance ministers postponed the signing of a bailout deal for Greece pending the implementation of certain conditions on the part of Athens. Jean-Claude Juncker, the chairman of a meeting of Euro Zone Finance Ministers, said that Greece would have to meet additional conditions to qualify for the bailout package. Firstly, the Greek parliament would have to approve a package of measures endorsed by the Euro Zone Finance Ministers earlier during their session on Sunday. Secondly, Athens would have to work out a specific plan for saving 325 million Euros (12.9 billion Roubles. 432 million USD. 273 million UK Pounds). Thirdly, political leaders would have to provide guarantees that they are following the plan. Should Greece meet all the conditions, the next meeting of Euro Zone Finance Ministers slated for 15 February would approve a 130 billion Euro (5.16 trillion Roubles. 173 billion USD. 110 billion UK Pounds) bailout.

10 February 2012

Voice of Russia World Service


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