ATHENS/BRUSSELS (Reuters) – Greece formally requested a six-month extension to its euro zone loan agreement on Thursday, offering major concessions as it raced to avoid running out of cash within weeks and overcome resistance from sceptical partners led by Germany.
With its EU/IMF bailout programme due to expire in little more than a week, the government of leftist Prime Minister Alexis Tsipras urgently needs to secure a financial lifeline to keep the country afloat beyond late March.
BRUSSELS (Reuters) – Greece asked euro zone countries for a six-month extension of its bailout program on Thursday, pledging to honor all its debts and not to take unilateral action that would undermine agreed fiscal targets, a document seen by Reuters showed.
It appeared to go very substantially toward the position taken by euro zone finance ministers in earlier negotiations.
ATHENS/BRUSSELS (Reuters) – Greece is expected to ask on Thursday for an extension to its “loan agreement” with the euro zone as it faces running out of cash within weeks, but it must overcome resistance from sceptical partners led by Germany.
With Greece’s bailout programme due to expire in little more than a week, the government of leftist Prime Minister Alexis Tsipras urgently needs to secure a financial lifeline to keep the country afloat beyond late next month.
BRUSSELS (Reuters) – The Swiss franc is still significantly overvalued and the country’s central bank remains prepared to intervene when necessary in currency markets, its chairman said on Tuesday.
The Swiss National Bank (SNB) shocked financial markets last month by scrapping its 1.20 per euro cap on the franc, sending the currency soaring and Swiss stocks plunging.
BRUSSELS, Feb 16 (Reuters) – Talks between Greece and euro
zone finance ministers over the country’s debt broke down on
Monday when Athens rejected a proposal to request a six-month
extension of its international bailout as “unacceptable”.
The unexpectedly rapid collapse raised doubts about Greece’s
future in the single currency area after a new leftist-led
government vowed to scrap the 240 billion euro bailout, reverse
austerity policies and end cooperation with EU/IMF inspectors.
BRUSSELS (Reuters) – Greece rejected a proposal by its euro zone partners on Monday that it should accept a six-month extension of its international bailout programme while sticking to the terms of its agreement with lenders, casting talks on its debt into disarray.
EU officials said the talks were over unless Athens changed its mind after a leftist-led government won power last month and vowed to scrap the 240 billion euro bailout, reverse austerity policies and end cooperation with EU/IMF inspectors.
BRUSSELS (Reuters) – Debt-laden Greece and EU paymaster Germany drew firm battle lines as euro zone finance ministers began crunch talks on Monday on the future of an unpopular international bailout for Athens, with EU officials pessimistic about any early deal.
A Greek official blasted as “unreasonable” and a “waste of time” what Athens believed was a draft proposal presented at the Eurogroup in Brussels. The new government saw it as an attempt to force it to extend Greece’s submission to a hated bailout deal and it simply could not accept it, the official said.
BRUSSELS (Reuters) – Greece and its creditors made little progress in recent days toward an interim funding deal, officials involved in the talks said, citing wide differences over how the Athens government can deliver on election promises and satisfy lenders.
Euro zone finance ministers began a meeting in Brussels to discuss what the Greek government, elected last month on promises of ending austerity and onerous credit terms, is prepared to do to continue to get more loans from the euro zone.
BRUSSELS (Reuters) – The Greek government promised to do “whatever we can” to secure a deal with its international creditors next week, cheering investors as experts from both sides began technical talks on Friday to lay the ground for an accord.
Fears of financial chaos have seen savers taking their cash out of Greek banks – a movement banking sources said had been the reason for the European Central Bank offering more emergency funding for Greek banks on Thursday until after crunch talks among euro zone finance ministers on Monday.
BRUSSELS, Feb 12 (Reuters) – European Union leaders did not
enter into any negotiations on Greece’s economic problems on
Thursday, leaving the talks to officials who are to meet on
Friday, the chairman of the EU summit Donald Tusk said.
“The leaders did not enter into a negotiation on Greece,”
Tusk told a news conference after Thursday’s Brussels summit.