EU Economic and Monetary Affairs Correspondent
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Jun 9, 2015

Greece delivers reform plan to EU, warns on cost of failure

ATHENS/BRUSSELS (Reuters) – Greece handed its creditors new proposals on unlocking funds to keep the country from default, with Prime Minister Alexis Tsipras offering hope for a deal and warning the cost of failure would be enormous.

The reform proposals mark a further attempt by Tsipras to compromise with lenders as time runs out to reach a deal to prevent his country going bankrupt.

Jun 7, 2015

Greek bid for debt relief faces euro zone scepticism

BRUSSELS, June 7 (Reuters) – Greece wants to restructure its
huge public debt through cheaper refinancing, longer maturities,
a write off of some principal and turning some debt into
perpetual or GDP-linked bonds, but the plans have no support in
the euro zone so far.

The Greek government spelt out ideas on how to restructure
the debt, which is at 175 percent of gross domestic product, in
two documents submitted to its creditors last week.

Jun 6, 2015

EU’s Juncker snubs Greek PM after ‘absurd’ debt deal rebuff

BRUSSELS/ATHENS (Reuters) – The European Union’s chief executive declined to speak to Greek Prime Minister Alexis Tsipras on Saturday after the leftist leader rejected as “absurd” international creditors’ terms for a cash-for-reform deal to keep his country from default.

An EU official said European Commission President Jean-Claude Juncker, who has tried to bridge the gap between Athens and its lenders, refused to take a telephone call from the Greek premier since there was nothing new to discuss.

Jun 5, 2015

Greece delays IMF payment, PM to brief angry parliament

ATHENS/BRUSSELS (Reuters) – Greece delayed a key debt payment to the International Monetary Fund due on Friday as Prime Minister Alexis Tsipras, facing fury among his leftist supporters, demanded changes to tough terms from international creditors for aid to stave off default.

The IMF said Athens planned to bundle four payments due in June into a single 1.6 billion euro (£1.16 billion) lump sum which is now due on June 30.

Jun 4, 2015

Greek left vents fury at creditors as Tsipras edges nearer to deal

ATHENS/BRUSSELS (Reuters) – Leftists in Prime Minister Alexis Tsipras’ party vented fury on Thursday at terms proposed by Greece’s creditors for a last-ditch deal to stave off bankruptcy and European officials acknowledged that large gaps remain to be bridged.

Tsipras emerged from late-night talks with senior EU officials in Brussels saying a deal with international lenders was “within sight” and that Athens would make a crucial payment due to the International Monetary Fund on Friday.

Jun 4, 2015

Greek left vents fury at creditors as Tsipras nears deal

ATHENS/BRUSSELS (Reuters) – Leftists in Prime Minister Alexis Tsipras’ party vented fury on Thursday at terms proposed by Greece’s creditors for a last-ditch deal to stave off bankruptcy, but European officials voiced confidence that an agreement was near.

Tsipras emerged from late-night talks with senior EU officials in Brussels saying a deal with international lenders was “within sight” and that Athens would make a crucial payment due to the International Monetary Fund on Friday.

Jun 2, 2015

Greece’s creditors draft deal to unlock aid, Athens resists

BRUSSELS/ATHENS, June 2 (Reuters) – Greece’s creditors
drafted the broad lines of an agreement on Tuesday to put to the
leftist government in Athens in a bid to conclude four months of
acrimonious negotiations and release aid before the
cash-strapped country runs out of money.

The joint effort by the European Commission, the European
Central Bank and the International Monetary Fund to set out the
terms for a cash-for-reforms deal came after the leaders of
Germany and France held emergency talks with the institutions in
Berlin on Monday night to press the lenders to bridge their own
differences and find a solution.

Jun 2, 2015

Euro zone back to inflation as May prices beat forecast

BRUSSELS (Reuters) – The euro zone returned to inflation in May with a higher than expected increase in consumer prices after five months of falls and stagnation, due to rising food costs and the waning impact of cheap energy.

The European Union’s statistics office Eurostat said on Tuesday consumer prices in the 19 countries sharing the euro rose 0.3 percent year-on-year last month after a flat reading in April, beating market expectations of a 0.2 percent increase.

Jun 1, 2015

Uncertainty shrouds Greek debt talks after Tsipras tirade

BRUSSELS (Reuters) – Uncertainty shrouded Greek debt negotiations on Monday at the start of a crucial week after Prime Minister Alexis Tsipras fired a broadside at international creditors that officials said bore little resemblance to his private talks with EU leaders.

The euro zone has set a deadline of Friday to conclude the slow-moving talks to allow time for institutions and ministers to approve a deal and secure parliamentary backing to disburse frozen aid before Greece’s bailout expires at the end of June.

May 29, 2015

Some blame EU Commission for Greek obstinacy in debt talks

BRUSSELS, May 29 (Reuters) – Damned if you do, damned if you
don’t. Some euro zone 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.

After four months of talks with scant progress, hawkish
governments privately blame Commission President Jean-Claude
Juncker and Economics Commissioner Pierre Moscovici for muddying
their message by playing “good cop”.

    • About Jan

      "Based in Brussels since 2005, I cover economic policy news from the European Commission, EU and euro zone economic data, monthly meetings of EU/euro zone finance ministers as well as G7/8/20 meetings. Before Brussels I was a correspondent in Stockholm for five years, covering technology stocks and the Swedish central bank. I was earlier a correspondent in Poland for seven years, covering macroeconomic policy, bond, forex and money markets, the central bank and politics."
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