The European Stability Mechanism (ESM)
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No avoiding rise in property auctions
Within hours of last Monday's Eurogroup concluding and paving the way for the completion of the third review, confusion reigned regarding what had been agreed with respect to property auctions for the coming years.
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General government debts at 4.49 billion euros
The government has created fresh debts in the 2015-2017 period to end up owing 4.49 billion euros from 3.8 billion in 2014, despite receiving 5.1 billion euros from the European Stability Mechanism (ESM) up until last month for the precise purpose of clearing its arrears.
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EU reports have eye on past and future
Two very different reports concerning Greece and its bailout programs were published by European institutions last week.
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Nowotny: ESM should turn into IMF-styled rescue fund
Veteran European Central Bank policymaker Ewald Nowotny has backed turning the European Stability Mechanism (ESM) into a IMF-styled lender and for it to take over from the ECB in Greece's bailout program.
800-million-euro sub-tranche officially released by ESM to Greece
The Board of Directors of the European Stability Mechanism (ESM) announced the disbursement of the 800 euro sub-tranche to Greece. The money will be used for to cover the Greek government’s outstanding debt to the private sector.
EuroGroup calls for faster steps from Athens
EuroGroup President Jeroen Dijsslebloem said the meeting was short adding that the debate was not intense. As he explained during the press conference, the Finance Ministers received the reports drafted by technical staff in Athens in order to move rapidly forward with the 3rd review of the Greek programme.
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Macron, in Athens, pushes vision of deeper eurozone integration, praises Greece
French President Emmanuel Macron on Thursday backed Germany's idea of a European Monetary Fund (EMF) but stressed the ultimate goal should remain a eurozone budget.
Schauble: Greeks will erect statue in my honour in future
In an article titled “A Fund for tough times”, German newspaper Handelsblatt outlines the plans by German Finance Minister Wolfgang Schauble to transform the European Stability Mechanism (ESM) into a European Monetary Fund similar to the IMF.
Fitch upgrade Greece debt, sees steady improvment
Credit rating agency Fitch has upgraded Greece's debt by a notc, citing what it called an improving outlook and amid expectations the country's debt sustainability will steadily improve.
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Fitch upgrades Greece as political risk eases
Fitch Ratings upgraded Greece's long-term foreign-currency issuer default ratings to B- from CCC, citing reduced political risk and sustained GDP growth. Fitch said on Friday it expected the general government debt to steadily improve, cushioned by benefits from the European Stability Mechanism (ESM) program.
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