Latest News from Greece
Greek energy minister: US against Russian natgas extension; we’re Ok
Greece’s far-left energy minister told Russian media on Friday that Washington was negative towards the idea of extending Russia’s proposed natgas pipeline from Turkey to Greece. Nevertheless, he said his government was still keen on the project, dubbed “Greek Stream” by supporters, the extension of “Turkish Stream”.
Athens’ June payments to IMF total 1.55 bln euros – Tsipras letter disclosed
June looms large as “crunch time” for the radical leftist government in Athens, with installments just to the IMF total 1.55 billion euros next month.
Friday also saw the publication of a letter sent by Greek PM Alexis Tsipras to the “institutions” on May 8, with creditors again warning against “threats” of non-payment.
Bulgaria's PM: Over 10 000 Jobs Were Created in Plants Opened in Past Few Days
Bulgarian Prime Minister Boyko Borisov boasted that over 10 000 jobs had been created in plants opened over the past few days in the country.
Speaking Friday in Devnya at the opening of a new production line at the local cement plant, Borisov noted that the new jobs had been created in Burgas, Stara Zagora, and Devnya, according to reports of the Bulgarian Telegraph Agency.
Massive police operation underway to nab gang of notorious bank robbers
Police are reportedly closing in on Greece’s most wanted fugitive, bank robber and kidnap-for-ransom mastermind Vassilis Paleokostas, near the town of Nea Aghialos, in central Greece.
Two individuals have already been arrested.
Greece, creditors seek breakthrough as clock runs down
Greece and its lenders enter a decisive weekend of negotiations in a bid to agree on a package of cuts and reforms that would unlock another 7.2 billion euros and allow Athens to keep meeting its debt repayments.
US says all parties need to move on Greece
Greece and its creditors need to move if the debt-wracked country is to remain in the eurozone, the United States said May 29, as Athens' European partners insisted there was still a lot of work to do.
"All parties need to move," Lew told a briefing after a meeting of Group of Seven finance ministers and central bank chiefs wrapped up in Dresden.
ELSTAT confirms return to recession
Greece?s economy shrank 0.2 percent in the first quarter, the country?s statistics service ELSTAT said n Friday, confirming a preliminary estimate earlier in the month. The data showed that the economy slipped back into recession as political turmoil put the brakes on a fragile recovery.
Retail sales volume grows in March
Greek retail sales by volume rose 1.2 percent in March compared to the same month a year earlier, despite the uncertainty over a reforms deal with the country?s EU/IMF lenders, statistics service ELSTAT said on Friday.
Roubini sees 'pots of money' being found to help Greece meet IMF deadline
Economist Nouriel Roubini said he expects ?pots of money? to be found to allow Greece to meet its payment commitments to the International Monetary Fund.
Lew calls for immediate solution to the Greek crisis
US FinMin Lew, attends the Dresden G7 Summit, and stated that the 5th of June may not be a crucial deadline for Greece. At the same time, however, he asked a solution to the Greek crisis “as soon as possible”.
Greece mixes messages on expectations for deal
Greece said Friday that the deadline for reaching an accord to release much-needed bailout funds was the end of June, despite officials raising hopes of a deal being imminent as it flirts with the possibility of a default.
Schaeuble: Greece’s deadline, end of June
“The program has been extended by the end of June, and will subsequently run out if there is no deal. There is a lot of work to be done on technical issues. But the deadline is the end of June”. These are Wolfgang Schaeuble’s statements during the G7 Summit press conference, when asked on how long is left for Greece to strike a deal. Mr.
Schaueble plays down positive reports from Athens
German Finance Minister Wolfgang Schaeuble sought to play down Friday assertions by Athens that Greece is on the verge of reaching a deal with its creditors.
"The positive reports out of Athens don't fully reflect the state of talks," Schaeuble said at the close of a meeting of Group of Seven finance ministers and central bank governors in Dresden.
[AFP]
Investing in the future of Greek grape varieties
By Yiouli Eptakili
Some blame EU Commission for Greek obstinacy in debt talks
By Jan Strupczewski
Damned if you do, damned if you don't. Some eurozone countries are accusing the European Commission of giving Greece false hope of new loans for less reform effort, but they still want Brussels to find a way to keep a defiant Athens in the euro.