Greece will repay a loan tranche to the IMF on time on April 9, its deputy finance minister said on Friday, seeking to quell fears of default after a flurry of contradictory statements on the issue in recent days.
Angela Merkel
- Over 90% of Stablecoin Transaction Volumes Come from Automated Bots Rather Than Actual Users: Study
- Gates Foundation Partners With Novo Nordisk and Wellcome Trust in $300 Million Initiative to Advance Global Health Research
- Rue21 Apparel Stores Set to Close in the Coming Weeks After Filing for Third Bankruptcy
Greece is optimistic about reaching a deal on economic reforms with its euro zone peers early next week, unblocking urgently needed funding, its economy minister said on Thursday.
Greece said it will present a package of reforms to its euro zone partners by next Monday in hope of unlocking aid to help it deal with a cash crunch and avoid default.
Germany's Angela Merkel does not expect talks on Monday with Greek Prime Minister Alexis Tsipras to resolve his differences with the euro zone over Greece's bailout but she does want to hear from him in person about his reform plans, an aide said.
The dollar resumed its fall on Monday after its steepest weekly drop in 3-1/2 years, as comments by a top Federal Reserve official added to last week's dovish policy message.
Markets still digesting an unexpectedly cautious message from the Federal Reserve will get more food for thought this week with U.S. inflation data and potentially rising risks of a Greek exit from the euro zone.
Greece will receive much needed funding once it has submitted a detailed list of proposed reforms to the Eurogroup of euro zone finance ministers, its government spokesman said on Friday, as the country strives to avoid a cash crunch within weeks.
Finance Minister Anton Siluanov said on Thursday the worst was over for Russia's economy, which has been hit by Western economic sanctions over the Ukraine crisis and the fall in global oil prices.
Euro zone leaders will tell Greece on Thursday that time and patience are running out for its leftist-led government to implement agreed reforms to avert a looming cash crunch that could force it out of the single currency.
Germany will do all it can to avoid Greece stumbling out of the euro zone, a senior government official said on Wednesday ahead of a meeting of European Union leaders in Brussels.
Greece frustrated its main creditors on Tuesday by refusing to update euro zone peers on its reform progress at a scheduled teleconference, insisting instead that the discussions should be escalated to Thursday's European Union summit.
Warning Greece it had "no time to lose", euro zone ministers agreed technical talks between finance experts from Athens and its international creditors would start on Wednesday with the aim of unlocking further funding.
It is too early to discuss a third bailout package for Greece, European Commission President Jean-Claude Juncker said on Wednesday, stressing the focus of talks with Athens was implementing measures already agreed with the euro zone.
Greece's leftist Prime Minister Alexis Tsipras accused Spain and Portugal on Saturday of leading a conservative conspiracy to topple his anti-austerity government, saying they feared their own radical forces before elections this year.
Germany's parliament approved an extension of Greece's bailout on Friday after Finance Minister Wolfgang Schaeuble, who has voiced doubts about whether Athens can be trusted, promised he would not let Greece "blackmail" its euro zone partners.
Subscribe to VCpost newsletter
Most Popular
- IRS Scrambles to Address Huge Gap in Audit Rates Between Black, Other Taxpayers
- Paramount Reportedly Greenlights Buyout Discussions with Sony, Apollo As Skydance Deal Fades
- Chicago Teachers Union Urges New Contract, Including $95K Salary, 100% Abortion Coverage, and Migrant Housing Funding
- Biden Administration Halts US Ammunition Shipment to Israel; Tel Aviv ‘Unaware’ of Washington’s Decision
- Body Found After P&O Pacific Adventure Cruise Ship Passenger Fell Overboard Near Sydney Harbor
- US Accuses Russia of Quietly Shipping Refined Petroleum to North Korea at Levels Violating UN Cap
- Former Seafood Giant Red Lobster Nears Bankruptcy Due To Declining Sales and Mismanagement
- UPDATE: Boeing Locks Out Firefighters Amid Labor Dispute, Negotiation with Machinists