greece reaches preliminary agreement
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

With creditors

Greece reaches preliminary agreement

Egypt Today, egypt today

Egypt Today, egypt today Greece reaches preliminary agreement

Greek Finance Minister Euclid Tsakalotos
Athens - AFP

Greece said Saturday it had reached a preliminary agreement with international creditors that it was meeting its commitments to unblock the latest tranche of a third bailout programme.

"We achieved the agreement with the institutions, at a staff level, on all issues," Greek Finance Minister, Euclid Tsakalotos told journalists.

"We are satisfied," he added. 

A key subject of the audit was the ongoing efforts to open up the Greek electricity and natural gas markets, which are currently dominated by state-controlled operators.

Another thorny issue was a proposed revision of a strike law, with the creditors hoping it will help reduce industry shutdowns.

There has also been a debate about maintaining low sales tax for Greek islands accommodating thousands of refugees and migrants

"The European institutions have reached a staff level agreement with the Greek authorities... This will be presented to the Eurogroup next Monday 4 December 2017. The Greek authorities plan to implement the prior actions necessary to conclude the third review as soon as possible', the team of creditors in Athens said separately in a statement.

The final agreement is expected to be ratified at the meeting of Eurozone finance ministers on January 22, provided the Greek parliament passes the reforms.  

"I welcome the staff level agreement reached ahead of Eurogroup. Good news for Greece and Europe. Now focus on implementation of the reforms," European Commission Vice-President, Valdis Dombrovskis tweeted. 

Greece has received three multi-billion euro bailouts since 2010. 

The third rescue programme, currently financially supported by EU states but not the International Monetary Fund, runs to August 2018 and Athens then hopes to fully return to market financing.

By the end of September, Greece had received over 221 billion euros from European institutions and a further 11.5 billion from the IMF.

In July, Greece made a symbolic return to debt markets after a three-year hiatus, selling three billion euros worth of five-year bonds at 4.625 percent, lower than its previous outing in 2014.

Athens tested the market again earlier this month, offering to exchange some 30 billion euros in maturities originally issued in 2012.

According to the Greek finance ministry more fixed-rate bond sales will follow.

European Economic Affairs Commissioner, Pierre Moscovici on Saturday hailed the preliminary agreement as "a strong signal of confidence to investors in Greece

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

greece reaches preliminary agreement greece reaches preliminary agreement



GMT 15:49 2011 Friday ,10 June

Oil firm wins injunction against Greenpeace

GMT 10:27 2015 Monday ,06 July

Mini to launch ‘Clubman’ in 2016

GMT 17:21 2011 Wednesday ,23 February

Lampard Desperate To Win The Champions League

GMT 10:13 2018 Tuesday ,09 January

Barcelona to unveil 160m Coutinho

GMT 23:03 2017 Monday ,16 January

Bank of Korea: Money Production Cost Rise in 2016

GMT 20:33 2011 Friday ,06 May

Asad\'s army arrests all men over 15 in Daraa

GMT 11:55 2011 Tuesday ,29 November

Ultrabooks could save the PC

GMT 13:02 2012 Saturday ,01 September

Zombies and Morons compete

GMT 07:31 2017 Tuesday ,20 June

Sisi keen on attaining unity

GMT 11:50 2015 Saturday ,26 September

The Library of Fragrance announces January launches

GMT 06:28 2014 Saturday ,18 October

Asian Junior Volleyball tourney kicks off in Bahrain

GMT 13:31 2016 Saturday ,13 February

Greek farmers clash with police

GMT 07:40 2012 Friday ,06 July

Deeds, not words, matter the most

GMT 14:16 2016 Wednesday ,23 November

Gigi sorry for ‘racist’ Melania Trump impression

GMT 22:52 2011 Tuesday ,26 April

Nigeria prepares for parliamentary elections

GMT 20:35 2016 Tuesday ,04 October

Paris climate deal: EU backs landmark agreement

GMT 10:50 2016 Thursday ,01 September

India's Reliance announces launch

GMT 09:34 2016 Friday ,30 September

Rosetta spacecraft set for final comet crash landing

GMT 06:27 2017 Wednesday ,28 June

Rakeen Georgia ex-CEO faces trial in Georgia
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday