Greece looks for debt help after backing further cuts

The Eurogroup also said it could consider replacing more costly International Monetary Fund loans to Greece with cheaper euro zone credit and transfer the profits made from a portfolio of Greek bonds bought by euro zone national central banks back to Athens.

The country is in the middle of its third global bailout, but its progress has been slow in light of various disagreements related to the reforms the Greek government has to impose in return for the rescue money. Its creditors in the eurozone also said they would offer the prospect of debt relief if the country meets its side of the bargain.

"Greece has assumed its responsibilities", he said, referring to measures on pension cuts, tax hikes and reforms adopted on Thursday by the Greek Parliament.

Germany's coalition government split along party lines on Monday over the question of debt relief for Greece ahead of a crunch meeting in Brussels to tackle the thorny issue.

German Finance Minister Wolfgang Schaeuble said he hoped for a political agreement on Monday that would allow euro zone governments to pay out the next tranche of loans to Greece.

Under the terms of the current Greek bailout program, the country has to enact a series of economic reforms in order to get the cash.

19 fallen officers honored at annual police memorial
The week was established by Congress in 1962 and starts Monday with National Peace Officers Memorial Day. Though he was killed more than 12 years ago, his name was just added to the memorial this year.

The IMF believes that debt relief, or at least a clear promise of it now, is clearly needed and is important to restore investor confidence in Greece, especially if the country, which has public debt of nearly twice the size of its GDP, is to return to market financing.

"I expect and I'm working on a deal today, but it will not be the end deal".

"We have to find a scenario on debt that holds for years to come and that everyone can accept, including the International Monetary Fund", an European Union diplomat said on condition of anonymity.

Greece is now in the midst of its third bailout programme - the current three-year deal expires in the summer of 2018 and could be worth up to €86bn in total.

Dijsselbloem made clear a formal decision on whether to grant Greece more debt relief would only be taken once the bailout ends in mid-2018, repeating a Eurogroup statement from May 2016, which also spelt out what relief could be considered. On Monday, Macron spoke to Tsipras and according to his office stressed "his determination to find an accord soon to lighten the burden of Greek debt over the long term".

The meeting will be the first for French Finance Minister Bruno Le Maire, named to his post last week by newly-elected President Emmanuel Macron, a pro-EU centrist. "That will be one of the hard issues", German Finance Minister Wolfgang Schaeuble said.

Related News:

  • French President-elect Macron gears up for challenges ahead

    French President-elect Macron gears up for challenges ahead

    His party, En Marche! At 39, Macron will become France's youngest leader since Napoleon when he is inaugurated on Sunday. The transfer of power to Macron will take place Sunday, outgoing President Francois Hollande announced.
    Dele Alli 'can't see many better places to improve' than Tottenham

    Dele Alli 'can't see many better places to improve' than Tottenham

    There are a few things we need to change and improve but it's a great club to be part of". I want to congratulate all and say thank you to all of my players and staff and the fans.

    Lenovo unveils ultra-affordable Moto C, Moto C Plus smartphones

    It is quite possible that the Moto X 2017 may come in different variants where a 16 GB variant will be a basic model. There are actually three models here: a 3G-only Moto C, a 4G-capable Moto C, and the Moto C Plus.
  • New US Ambassador David Friedman Presents Credentials to President, Meets PM

    Palestinians say moving the embassy would be a de facto recognition of Israel's control of all Jerusalem . The area now houses the Al Aqsa Mosque, Islam's third-holiest site.
    Merchants Trust plc (MRCH) Announces GBX 6.10 Dividend

    Merchants Trust plc (MRCH) Announces GBX 6.10 Dividend

    The shares were sold at an average price of GBX 356 ($4.60), for a total transaction of £1,580,978.20 ($2,040,761.84). The Company's divisions include ENA, DvM and Food. (NASDAQ:AFFX) on Thursday, August 27 with " Buy " rating.

    Sean Spicer and Donald Trump make out on SNL

    We're not sure what will come first - Trump sending out a tweet about the SNL sketch or Spicer getting axed as Press Secretary. The previous best May episode aired in 2011, with host Justin Timberlake and musical guest Lady Gaga drawing a 3.7 rating.
  • AAP: No fruit juice before 1 year old

    AAP: No fruit juice before 1 year old

    For those 7-18 years, limit juice intake to 8 ounces or 1 cup of the recommended 2-2½ cups of fruit servings/day. Children and teens continue to be the top consumers of juice and juice drinks in the country, the group says.
    ESPN To Launch New Show With Pablo Torre And Bomani Jones

    ESPN To Launch New Show With Pablo Torre And Bomani Jones

    The two talked about the split Wednesday morning, and one of them seemed more enthused about it than the other. Now Greenberg was on his own - and ready to pitch advertisers on his solo show premiering January 1, 2018.
    HTC U11 smartphone with Edge Sense officially unveiled

    HTC U11 smartphone with Edge Sense officially unveiled

    In terms of photography, the HTC U11 has just been crowned the new king by industry experts DxOMark , managing a score of 90. The front camera actually has a higher resolution sensor, 16-megapixels, and features a special Special Panorama mode.
  • Trump announces plans to soon visit Egypt

    Trump announces plans to soon visit Egypt

    Trump will hold talks with the leadership of Saudi Arabia during the Saudi-US Summit. A visit like this would be a huge step in American relations with Egypt.
    Netflix Disabled Its App On Rooted Android Devices

    Netflix Disabled Its App On Rooted Android Devices

    Many individuals who root or generally change their phones are quite recently inspired by customization. This is applicable for those running the updated 5.0.4 version or the previous 4.16 version of the app.
    Phantom Dust launches free today on Xbox One, Windows 10

    Phantom Dust launches free today on Xbox One, Windows 10

    The series then laid dormant until a re-release was confirmed in 2016, with a vague promise of a release before E3 2017. We're also told that this isn't a limited offer, but that the game will be free for the foreseeable future.


Most liked

With hopes for peace uncertain, Trump to visit Israel
However he has since stalled, with Secretary of State Rex Tillerson recently telling NBC News that Mr Trump was weighing it up. Along with the US , the participants include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.

Ex-MotoGP champion Nicky Hayden 'critical' after cycling crash
Hayden began racing in the World Superbike Championship in 2016. "Come on Nicky, we're all with you". Several family members have flown in from the United States, including his mother and brother.

More immigrants arrested, fewer deported under Trump
Department of Homeland Security Secretary John Kelly further expanded the powers of ICE agents through new directives in February. This represents a 38 percent increase over the same period a year ago and an average rate of more than 400 arrests per day.

Harry Styles awkwardly reveals if his latest song is about Taylor Swift
So he knows what this is like! It's a strong end, and it shows range that I never could have predicted Styles had. Some fans were so amazed by Styles' new songs that they couldn't help but thank him for such handsome music.

President honors fallen officers at National Peace Officers' Memorial Service
The others died in years past, and have been added to the memorial in an effort to include the names of all officers killed in the line of duty, said Rogers.

Qualcomm hits back at Apple suppliers for breach of contract
Our report covers Qualcomm's press release and a Scribd document of the actual court filing against Apple's iPhone suppliers . A hearing is scheduled for June 15, and Koh has set a trial date of January 3, 2019.

'Big Bang Theory' Prequel 'Young Sheldon': See the First Look
CBS also is adding to the parade of classic TV revivals that are permeating the new fall lineups, with "S.W.A.T". Ferguson ("The Real O'Neals", "Mad Men") stars as a NY film critic who tries to live strictly by the Bible.

Gun Held To Rapper's Sister's Head In Beverly Grove Home Invasion
One of the robbers produced a gun and the suspects forced the woman back into the home, Preciado said. The Harlem rapper was not home at the time of an incident but a relative was held up at gunpoint.

Fernandinho sees improvement during 'tough' season for Man City
Guardiola believes City need more players with Zabaleta's commitment if they are to succeed in the future. "Sure. Speaking at his pre-match press conference, Guardiola said: " Zabaleta's impact here was wonderful .

Trump urged to prod Erdogan on human rights
But Obama and the Pentagon insisted that the YPG was the most effective fighting force against Islamic State. The New York Times later reported that the intelligence Mr Trump shared came from Israel, an ally of the US.

Instagram takes its Snapchat imitation to a new level
As the name implies, dive into the camera by swiping right, then select Rewind from the list of available options. These updates are a part of Instagram version 10 .21 for iOS in the Apple Store and for Android in Google Play .

Gold-Medal Behind! Olympic Gymnast McKayla Maroney Flaunts Bare Butt In Thong
Just in case you thought she might regret being so revealing on Instagram, she bounced back Monday with two more revealing photos. She later wrote in another tweet, "not everyone's gona like u, but if u stay true to yourself they might just respect you".

No West Ham approach for Yaya, claims agent
Manchester City takes on West Brom this Tuesday as their quest for Champion's League football next season continues. I will try with the club, with the players, with the staff, with the chairman, with the sporting director, to do it.

John Oliver on Trump firing Comey: 'Can he really be this stupid?'
As Oliver notes, "It is inherently suspicious to try to put words in Comey's mouth as you kick him out the door". It's the kind of response that makes you ask three questions.

Hawthorne's SpaceX launches Falcon 9 rocket carrying communications satellite into space
A key element in maintaining that rapid launch rate is returning pad 40 at the Cape Canaveral Air Force Station to service. Weather could not have been better Monday for a launch with a 90 percent chance for favorable conditions and clear sky.