Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Greece in talks with creditors amid resignations  Join our daily free Newsletter

MENAFN - AFP - 10/03/2013

No. of Ratings : 0
Digg This Article: http%3a%2f%2fwww.menafn.com%2fmenafn%2fqn_news_story_s.aspx%3fstoryid%3d1093617212%26title%3dGreece-talks-with-creditors-amid-resignations Share This Article: http%3a%2f%2fwww.menafn.com%2fmenafn%2fqn_news_story_s.aspx%3fstoryid%3d1093617212%26title%3dGreece-talks-with-creditors-amid-resignations Add to Delicious Seed this article Buzz this article Add to Reddit Add to furl Add to stumbleupon Add to Mixx!


 


(MENAFN - AFP) Greece's finance minister was lined up for talks on Sunday with the country's international creditors, hours after the Greek reform team was hit by the resignation of two top officials.The meeting -- mainly focused on job cuts -- will determine whether Athens will claim a loan slice of 2.8 billion euros (3.6 billion) due at the end of March.Thorny issues that Greece still needs to address include shrinking the number of jobs in the public sector, speeding up privatisation plans and recapitalising four of its main banks."There are open issues, there are differences but the climate is good," Finance Minister Yannis Stournaras told Mega television.On Saturday, Greece's privatisation chief and the finance ministry general secretary both stepped down over an investigation into alleged breach of duty at the country's main power group PPC where both were previously members of the board.The blow came as the troubled Greek privatisation drive was beginning to hit a stride after years of delays.In January, the privatisation agency completed Greece's first public land international deal in 15 years with a 99-year lease of a plot on the popular tourist island of Corfu for 23 million euros (30 million).A month later, Greece managed to lure back Qatar's investment authority in a public tender for its top asset, the former Athens airport of Hellinikon.In an interview with financial weekly Axia on Saturday, Prime Minister Antonis Samaras had forecast a solid privatisation drive for 2013."We will meet this year's target of around 2.6 billion euros. We might even exceed it," the PM said.He added that the government was expecting binding offers for gas operator DEPA and gaming monopoly OPAP before summer and would also divest state oil refiner HELPE within the year.A replacement to head the privatisation agency is to be nominated to parliament on Monday.Under the bailout conditions adopted last year, Greece needs to cut public sector workers by 25,000 in 2013 and a total of 150,000 by the end of 2015.Facing a sixth consecutive year of recession, the heavily-indebted country has been relying on international rescue packages to avoid bankruptcy.A return to growth initially foreseen for 2012 is now not expected before 2014.Since 2010, the EU and the IMF have committed 240 billion euros (314 billion) overall in rescue loans to Greece.The prime minister on Saturday also promised his recession-weary nation that there would be no more tightening of the belt beyond that already agreed with creditors."There will be no more austerity measures," Samaras said in a televised speech to his conservative party's political committee."And as soon as growth sets in, relief measures will slowly begin," Samaras said.But he noted that Greece's ailing economy was "out of intensive care, not out of the hospital."

 






  MENA News Headlines
May 24 2013Bankia sells City National Bank for 683m euros ,AFP
(MENAFN - AFP) Spain's bailed-out lender Bankia on Friday announced it would sell City National Bank of Florida to Chile's BCI for around 683 million euros ($883 million). The bank said in a ...

May 24 2013Bausch & Lomb near $9 bn sale to Valeant: source ,AFP
(MENAFN - AFP) Canadian pharmaceutical company Valeant is close to a deal to acquire US eye health company Bausch & Lomb for about $9 billion, a person familiar with the matter said Friday. A ...

May 24 2013Chile slaps $16 million fine on Canada mine company ,AFP
(MENAFN - AFP) Chile's environmental authorities slapped a $16.4 million fine Friday on Canadian mining company Barrick Gold for "serious" violations at its unfinished gold mine near the border ...

May 24 2013In Stockholm's suburbs, unemployment stokes unrest ,AFP
(MENAFN - AFP) Behind the well-kept lawns and flowerbeds of Husby, the immigrant-heavy Stockholm suburb where riots have raged for five straight nights, unemployment is fuelling despair among the ...

May 24 2013US stocks flat as bulls get cautious ,AFP
(MENAFN - AFP) US stocks closed flat Friday, reeling in early losses but showing caution following Japan's Thursday plunge and ahead of the three-day US Memorial Day holiday weekend. At the ...

May 24 2013IMF chief Lagarde avoids charges in French payout scandal ,AFP
(MENAFN - AFP) IMF chief Christine Lagarde avoided immediate charges Friday but was named an "assisted witness" after French prosecutors grilled her for two days over a state payout to a disgraced ...

May 24 2013Google eyes emerging markets networks: report ,AFP
(MENAFN - AFP) Google has become deeply involved in a series of projects to build and operate wireless networks in emerging markets including sub-Saharan Africa and Southeast Asia, a report said ...

May 24 2013Stalin police criticism sparks anti-Semitism row in Russia ,AFP
(MENAFN - AFP) An explosive comparison made by a liberal Russian politician between Stalin's agents and Hitler's secret police has provoked a storm of abusive criticism in Russia that has been ...

May 24 2013Hitler's shadow looms over anniversary of VW hometown ,AFP
(MENAFN - AFP) Europe's number one carmaker Volkswagen is not keen on celebrating the 75th birthday of its German hometown of Wolfsburg on Sunday because of the long shadow cast by Adolf Hitler ...

May 24 2013Fashion brands say street crime threatens Paris tourism ,AFP
(MENAFN - AFP) The streets of Paris are getting a reputation of being unsafe for tourists and this is a threat to business by the great brand names of French fashion, a top body representing the ...

more...


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help