HOT: » Which party would you vote for (if you could) in the upcoming snap vote in Bulgaria on April 19?
Send to Kindle
Greek Finance Minister Euclid Tsakalotos at the start of a special Eurogroup finance ministers meeting on the Greek crisis, at the European Council headquarters in Brussels, Belgium, July 12, 2015. Photo by EPA/BGNES
Growing discord has started to emerge hours before Sunday afternoon's Eurozone summit which is due to decide whether to grant Greece another bailout package or move to "Plan B".
"Italy does not want Greece to exit the euro and to Germany I say: enough is enough," Italian PM Matteo Renzi told Il Messaggero newspaper.
"Humiliating a European partner after Greece has given up on just about everything is unthinkable.”
While Italy and France are calling for a quicker decision on the new bailout package - which will be tied to a new set of reforms - countries like Germany, Finland, and the Netherlands are not keen on granting more than EUR 50 B to Greece without any guarantees it will stick to reforms.
This came as Eurozone finance ministers met to work on a deal with Greece ahead of talks of leaders from the single currency area scheduled for 16:00 Brussels time (17:00 EEST).
The meeting was announced on Sunday morning as an alternative to the full EU summit which was scheduled for the same time but which was called off by European Council President Donald Tusk.
Daily Kathimerini on Sunday reported that European finance chiefs had said they were unlikely to strike a deal by the end of the day - a situation which could put Greece at even more risks as the country is thought to have money only until the evening on July 13.
Meanwhile, a draft statement on reforms the Eurogroup requires of Greece was leaked by Reuters on Sunday, reading that Athens should register a 3.5% primary budget surplus by 2018, pursue pension system and labor market reforms and move forward with the privatization of the electricity transmission network operator (ADMIE).
Product market reforms are also needed in line with a list of OECD recommendations.
The draft also includes steps to strengthen the financial sector and to "amend or compensate for legislation adopted during 2015 which have not been agreed with the institutions and run counter to the program commitments". (The last item is about a number of legislative moves by Tsipras and his governments over the past 5 months which international lenders believe contravene the agreements made so far).
A criminal network linked to Bulgaria has been accused of defrauding dozens of elderly people in northern Greece through an elaborate telephone scam that resulted in losses exceeding 600,000 euros, according to Kathimerini.
Nikolay Vassilev, former Minister of Economy, dismissed claims that prices in Bulgaria have doubled following eurozone-related developments, arguing instead that inflation remains low and that public fears about sharp price increases are exaggerated.
The United States is expanding shipments of liquefied natural gas to Southeast Europe and Ukraine via Greece, according to remarks by the US Ambassador to Athens, Kimberly Guilfoyle
Greece has raised its minimum monthly wage to 920 euros as of today, marking an increase from the previous level of 882 euros, according to official information
The Bulgarian real estate market is showing signs of cooling in early 2026, with experts reporting a slowdown in transactions and a shift toward more balanced conditions between buyers and sellers
Greece has reportedly expanded its regional air defense involvement, including measures linked to the protection of Bulgarian airspace, amid heightened tensions in the wider Middle East following strikes involving the US, Israel and Iran
The introduction of the euro in Bulgaria has so far produced only a limited and largely one-off effect on consumer prices, according to an analysis by the European Central Bank
Viktor Orban’s long hold on power has come to an abrupt end after a decisive electoral victory by Péter Magyar, whose Tisza party is projected to secure a commanding parliamentary majority
NEW POLL: HUNGARIANS UNITED ON NEED FOR A ‘DIFFERENT’ RELATIONSHIP WITH THE EU, BUT DIVERGENCES REMAIN ON UKRAINE
A group of Members of the European Parliament has raised concerns over the potential leakage of confidential EU information to Russia, urging stronger safeguards within the European Parliament
The European Public Prosecutor’s Office (EPPO) has carried out a series of coordinated investigative actions across several countries, including Bulgaria and Romania, as part of a probe into suspected large-scale fraud involving EU funds
The caretaker government has approved a decision endorsing the Partnership Agreement between the European Union and its Member States and the Mercosur bloc
Aniventure Comic Con Returns to Bulgaria with Star Guest Christopher Judge!
Global Fuel Shock: Oil Jumps Over 40% Since Iran War Began
