Arab Today, arab today greece to get bailout funds before october
Last Updated : GMT 10:43:16
Arab Today, arab today
Arab Today, arab today

Greece to get bailout funds before October

Arab Today, arab today

Arab Today, arab today Greece to get bailout funds before October

Brussels - Arabstoday

International auditors will remain in Athens all of September, a European source said Wednesday, meaning Greece is unlikely to get its next installment of bailout funds before October. Auditors from Greece’s international creditors “will remain in Greece the entire month of September in order to present European finance ministers in October agreed measures – a credible and solid plan for Greece,” said the official who asked not to be identified. A favorable report from the auditors of the so-called troika of the European Union, International Monetary Fund and European Central Bank is key to disburse its part of Greece’s next installment of 31.5 billion euros in rescue funds. The disbursement had previously been expected in September, already a delay due to a two-month political deadlock caused by back-to-back elections in May and June. The delay could pose difficulties for the Greek government, which is already expected to resort to issuing fresh short-term debt in order to repay 3.2 billion euros to the ECB on Aug. 20. Getting a favorable decision from the auditors is not assured. “Much work remains to be done,” the source said. Greek Finance Minister Yannis Stournaras said Tuesday that the government had yet to identify about a third of 11.5 billion euros ($14.2 billion) in spending cuts it needs to make in 2013 and 2014 under its bailout program. The creditors are reportedly at odds, with the Wall Street Journal reporting that the IMF believes in order for Greece’s finances to be sustainable its debt-to-GDP ratio should be brought down to 100 percent by 2020, instead of the 120 percent under current plans. The European Commission rejected shifting the target, which would imply that eurozone governments or the ECB accept losses on funds provided to Greece. From:TheDailyStars

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 greece to get bailout funds before october Arab Today, arab today greece to get bailout funds before october

 



Arab Today, arab today

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 greece to get bailout funds before october Arab Today, arab today greece to get bailout funds before october

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
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