European Union

In response to the announcement by the Greek finance ministry on the primary surplus for 2014 dropping to 0.3% instead of a previous estimate of 1.4% of GDP, opposition PASOK stressed that the new government must soon realize that is no longer in the opposition and that it has a great deal of responsibility on developments in the country.

The ministry announced on Sunday that it has received prior approval from the World Bank for a partial guarantee of up to 200 million euro, which will allow it to request a loan from international lenders of up to 250 million euro. Banks have been invited to make their offers by April 1.

By Eleni Chrepa & Nikos Chrysoloras

Greece repaid a loan due Monday to the International Monetary Fund, further depleting cash reserves that risk running out this month unless a deal is reached with European partners.

 Credit conditions are getting tighter and this will hit the country?s economic activity sooner or later

By Dimitris Kontogiannis

Thousands of people are expected to march in Frankfurt on Wednesday to protest against austerity policies they blame on the European Central Bank, as the ECB inaugurates its new high-rise headquarters.

Yanis Varoufakis did not hide his distaste of German FinMin Schaeuble’s statements that he is “naïve”, according to a Sunday interview on ‘Alpha’ TV station.

Mr. Varoufakis stated that Schaeuble did not keep his word on not publicizing all that they had talked about during their interpersonal talk after the last Eurogroup.

Greece embarks on a second week of technical discussions with its lenders from Monday with the aim of agreeing on a first batch of reforms but also securing a concession, possibly from the European Central Bank, that would help it overcome its pressing liquidity problems.

Greece was warned on Friday that it has to make swifter progress in agreeing reforms with its lenders, as European Commission President Jean-Claude Juncker and Prime Minister Alexis Tsipras agreed in Brussels on the creation of a Greek task force to work with EU experts on structural improvements.

On Tuesday the German Chancellor Angela Merkel is scheduled to meet with the President of the European Central Bank Mario Draghi.

According to German Chancellor’s representative Steffen Seibert, the meeting will be held in Berlin where issues concerning Eurozone will be discussed.

The European Union's financial affairs chief Pierre Moscovici warned in a magazine against underestimating the risks associated with Greece leaving the eurozone, saying such a step could be the beginning of the end for the common currency.