EFIMERIDA TON SYNTAKTON

Europe’s shame

At least another 22 people drown in the Aegean

The ‘price’ paid by refugees and immigrants to cross the Aegean rose yet again as another 22 as of press time died in the Aegean when the speedboat that was carrying them capsized north of Samos. 36 were rescued, while the number of missing persons is unknown. The cause of the accident is also unknown, yet by now the ‘routine’ of deaths on the country’s sea borders is by now familiar. As the methods to control the border and turn back immigrants grow harsher, so grows the… regret of institutional representatives.

IMERISIA

A Eurogroup commitment to solve the problem of the debt

In the second half of the year the decisions following the next evaluation

New debt restructuring – the scenarios:

1. Extension of the deadline for debt repayments to the Eurozone to 50 years for the first and second bailout package (i.e. the 52.9 billion euros of GLF and the 139 billion euros of the EFSF respectively)

2. Interventions on the interest payments on the GLF. The key is the conversion of the interest rate from a set rate to a variable one in order to avoid fluctuations from a potential rise of Euribor.

3. A grace period of 10-20 years for the interest on the first bailout package as has already been agreed for the EFSF loans.


Possible solutions:

A fixed rate of 1% for the 50 years of loan repayments.
For the total 50 years the benefit could be as much as 25 billion euros.

A stable interest rate possibly lower than 1%, for a set period of 10-15 years before it is reassessed.

A reduction in today’s variable interest rate by a margin of 0.5% maintaining the Euribor quarterly interest rate for a period of time before it is converted to a fixed interest rate for 6-7 years.
 

What they said 

 

Finance Minister Yannis Stournaras:
Commitments must be kept over the debt
The Finance Minister maintained Greece’s stance that the Europeans must honor their commitments. He stated that whichever solution must benefit eerybody.

 

Wolfgang Schaeuble
Greece’s efforts are bearing fruit
Greece has marked significant progress and the country’s achievements are better than expected said Mr Schaeuble. The decisions over the debt will be taken in the second part of the year.

J. Dijsselbloem
The Greeks deserve praise
The measures over the sustainability of the debt will be examined after the next evaluation stressed the head of Eurogroup. He praised nevertheless the country’s efforts.

 

 

ELEFTHEROTYPIA

Oversight to last for two generations!

A draft law by the government will commit the next!

Greece is to be under strict surveillance by the EU until 2052 – and by law. The government submitted to parliament a draft law that will provide for the country to remain bound until the repayment of 75% of the loans which it has received from the European mechanism. The adoption of the packet of European Rules and Regulations which is known as the Two-Pack imposes on Greece the permanent threat of sanctions and fines, while giving to the Commission the absolute control of the drafting and execution of the state budget.

 

 

NAFTEMPORIKI

Greek shipping in first place

The Greek owned fleet takes first place once again in the world shipping market according to the British ship-brokering firm Clarkson. Greeks are first with regards to tankers, second in dry-cargo ships, second in ships transporting liquefied natural gas and second in transport ships. In almost all categories two economic superpowers compete: China and Japan.

 

 

TA NEA

Italy’s Paola Bacchiddu: 'Everything for Tsipras'

The head of communications of the Italian movement ‘Another Europe with Alexis Tsipras’ Paola Bacchiddu posted a photograph on Facebook of herself in a swimsuit in an attempt to convince Italians to vote for the movement.