Arab Today, arab today eu hastens greek package work
Last Updated : GMT 19:58:14
Arab Today, arab today
Arab Today, arab today

EU hastens Greek package work

Arab Today, arab today

Arab Today, arab today EU hastens Greek package work

ATHENS - Arabstoday

The European Union is urgently working on a second bailout package for Greece in a race to release vital loans next month and avert the risk of the Eurozone country defaulting, EU officials said Monday. Greece's conservative opposition, meanwhile, demanded lower taxes as a condition for reaching a political consensus with the Socialist government on further austerity measures, which Brussels says is needed to secure any further assistance. "You want to raise taxes and raise consensus with us, who have set reducing taxes as a priority? Don't even think about it," opposition New Democracy leader Antonis Samaras said. Moves to plug a looming funding gap for 2012 and 2013 were accelerated after the International Monetary Fund said last week it would withhold the next tranche of aid due on June 29 unless the EU guarantees to meet Athens' funding needs for next year. Emergency talks Senior EU officials held unannounced emergency talks with the Greek government over the weekend, an EU source said. Greece took a €110 billion (Dh575 billion) rescue package from the EU and IMF in last May but has since fallen short of its deficit reduction commitments, raising the risk of a default on its €327 billion debt — equivalent to 150 per cent of its economic output. The tax cuts sought by the opposition could aggravate a revenue shortfall which a "troika" of EU/IMF inspectors found on a review mission in Athens, due to be concluded this week. Samaras says the cuts are essential to revive economic growth but a government spokesman told Greek radio it could not put its fiscal targets at risk and said there were no grounds for fresh talks with the opposition in the near term. "We would like to tell people that we will reduce taxes and tax rates," he said. "But if we do this, we might not have the needed results. And we can not put our targets in risk." Brussels/Athens (Reuters) Uncertainty over whether Greece will receive the next €12-billion (Dh62.71 billion) aid tranche required to meet €13.4 billion in funding needs in July continued to rattle financial markets. The Greek 10-year bond spread over safe haven German Bunds rose by 20 basis points to 1,387. Two-year yields were up 58 basis points to 26.23 per cent. The European Central Bank continues to oppose any EU attempt to restructure Greece's debt mountain, even by asking investors to accept a voluntary extension of bond maturities. ECB board member Lorenzo Bini Smaghi said in an interview published yesterday the idea that debt restructuring could be carried out in an orderly way was a "fairytale".

arabstoday
arabstoday

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*

Arab Today, arab today eu hastens greek package work Arab Today, arab today eu hastens greek package work

 



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*

Arab Today, arab today eu hastens greek package work Arab Today, arab today eu hastens greek package work

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today Saudi clerics use Twitter, textbooks

GMT 10:13 2017 Tuesday ,26 September

Saudi clerics use Twitter, textbooks
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today China refuses visa to elderly India runner

GMT 15:01 2017 Tuesday ,26 September

China refuses visa to elderly India runner
Arab Today, arab today UAE to open its first nuclear reactor in 2018

GMT 19:11 2017 Tuesday ,26 September

UAE to open its first nuclear reactor in 2018
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Mai Kassab happy for participating in new film

GMT 09:33 2017 Friday ,22 September

Mai Kassab happy for participating in new film
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 16:08 2017 Monday ,25 September

'World's heaviest woman' dies

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday