European debt crisis

Greece completes early repayment of bailout loans to IMF

Greece has repaid its outstanding debts dating back to its financial crisis to the International Monetary Fund, two years ahead of schedule, the country's finance minister said on April 4.

Christos Staikouras hailed the payment as "a very positive development" that would mean significant savings in debt servicing costs.

Klaus Regling: Greece has prospects for greater growth

Next week marks the 10th anniversary of the establishment of the European Stability Mechanism (ESM) on 2 February 2012.

The ESM is a child of the euro crisis, it was directly connected to the biggest debt crisis that Greece went through after the war and it reminds the Greeks of the most difficult moments of the last decade.

Greece plans early repayment of loans

Greece is "getting rid" of expensive debt, laying the groundwork for the early repayment of part of the bilateral loans from the first Memorandum of 2010 (2.7 billion euros per year) and the further repayment of IMF loans (1.9 billion euros). The signal was officially sent by the Minister of Finance Christos Staikouras and according to information, these moves will start in the near future.

EU Finance Ministers Meet in Slovenia Friday Saturday to Amend Budget Spending Rules for Member States

European governments have spent hand over fist, despite ballooning public debt, to prevent the coronavirus pandemic from triggering economic calamity.

Now, the European Union faces calls to loosen its budget rules to allow the largesse to continue, but the topic is a sensitive one for many member states.

Goldman Sachs expects 7% growth of the Greek economy by 2026

Goldman Sachs estimates that the Greek economy is expected to gain momentum, with a boost from the resources of the Recovery Fund, after the submission of the "Greece 2.0" plan.

As Goldman Sachs points out in a new report entitled "Small economies, old challenges and new opportunities" that the Recovery Fund will lead to an increase in Greek GDP by at least about 7% by 2026.