European debt crisis
German lawmakers approve extension of bailout program for Greece
By Patrick Donahue and Brian Parkin
German lawmakers approved an extension of Greece?s loan program after Chancellor Angela Merkel?s coalition staved off dissent from bailout-weary members in its own ranks.
Varoufakis: Creative vagueness, VAT and taking a pee in Germany (videos)
Finance minister Yanis Varoufakis laid out his cards on the table in an interview with private Greek TV ANT1. Speaking to veteran presenter George Papadakis, he said that the government had committed itself to increasing VAT but assured that this would not threaten basic goods and services or harm islands that are privy to special tax laws.
The Greek govt, ECB and IMF on Greek funding
Foreign parliaments and institutions are struggling to keep Greece on track with its 'program' by voting on the 4-month extension to Greek funding attacked to a reforms list created by Greek Finance Minister Yanis Varoufakis.
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Eurozone sources: 30 billion euro won’t be enough for Greece in the next biennium
German agency MNI, citing sources in the Eurozone, estimates that Greece will need a third aid package, since its financial needs will exceed the 30 billion euro in the following biennium.
According to the agency, within the next four months, there will be no talks on restructuring of Greek debt.
Varoufakis to Bloomberg: I hope ECB helps Greece avoid default in March
Greek FinMin Yanis Varoufakis raised eyebrows and generated his share of shivers on Wednesday when he said he's counting on the ECB to help Greece avoid default next month when it runs out of money, while at the same time playing up the positive by saying deposits are also starting to flow back to domestic banks.
ECB: 12 billion euros in deposit outflows from Greek banks in Jan.
The level of deposits in Greek banks dropped by 12.2 billion euros in January, leaving 155.5 billion euros in the vaults, according to the ECB.
This reduction is attributed to political uncertainty ahead of the Jan. 25 election and the subsequent clash between the new Athens government and its eurozone creditors.
Greek banks mull cutting shipping portfolios to raise capital, sources say
By Jonathan Saul & Sophie Sassard
Greece's leading banks are considering offloading part of their portfolios of shipping debt worth billions of dollars in a bid to shore up their capital, according to banking and ship financing sources.
France to be link between Athens and eurozone, says Sapin
France sees itself as a link between Greece and its eurozone peers, Finance Minister Michel Sapin told an Austrian paper, reiterating his call for economic policies that can foster growth and boost ultra-low inflation in Europe.
Reuters: Strong Banking Ties to Greece Pose Risk for Bulgaria, Balkans
Balkan countries including Bulgaria "remain highly vulnerable to the threat of Greek financial collapse" due to their strong banking and trade links with Greece, Reuters said.
Even though Greece seems for now to have won a four-month extension of its bailout programme, the danger of a potential exit of the country from the euro still exists, the newswire said.
Varoufakis says funding problem lies ahead
Finance Minister Yanis Varoufakis admitted on Wednesday that Greece may face difficulties in finding the money to pay its obligations to the International Monetary Fund and the European Central Bank over the next few months.
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