Nationwide Strike Grips Greece: 24 Hours of Transport Paralysis
A nationwide strike in Greece has brought the country's transport networks to a standstill, affecting railways, ferries, buses, taxis, and more
Greece said on Tuesday it has submitted a detailed reform proposal to its international lenders and called on them to accept it to unlock badly needed bailout money, international newswires reported.
"We have submitted a realistic plan for Greece to exit the crisis. A realistic plan, whose acceptance by the institutions, our lenders and our partners in Europe will mark the end of the scenario of divisions in Europe," Tsipras told reporters, according to Reuters.
It is uncertain whether Greece has the money to pay EUR 303 M owed to the IMF on Friday, which is the first portion of a total of EUR 1.6 B debt payments to the global lender due this month, AP noted in its coverage of the news. Athens’s failure to meet its obligations could trigger Greece’s default and potential exit from the eurozone.
Tsipras said the reform plan was submitted on Monday night to the IMF, the European Central Bank (ECB) and the European Commission but didn’t five any specifics on its content. According to inside sources, however, there were no major concessions in Greece’s proposal that would enable the release of the final tranche of EUR 7.2 B of bailout aid sought by Athens. Without the money, Greece might be unable to make Friday’s debt payment.
Pension and labour market reform, fiscal targets and the size of the civil service are the main outstanding issues in the talks between Greece and its creditors.
An emergency meeting of Europe’s top politicy makers to discuss a deal with Greece was held in Berlin last night. German Chancellor Angela Merkel, French President Francois Hollande, the ECB head Mario Draghi, the head of the European Commission Jean-Claude Juncker and the IMF chief Christine Lagarde were shown a technical paper outlining possible ways to clinch a deal with Tsipras’ left-wing government, according to the Financial Times.
The five leaders “agreed that work must now be continued with greater intensity” and that “they have been in closest contact in recent days and want to remain so in the coming days, both among themselves and naturally also with the Greek government, according to a statement released by Merkel’s office on Tuesday, Bloomberg said.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The European Parliament has voted to impose a €10,000 limit on cash payments within the European Union
French President Emmanuel Macron issued a stark warning to Europe, urging the continent to confront the challenges of a rapidly changing world
The European Parliament has approved the EU's inaugural directive aimed at regulating the employment rights of individuals working through online platforms
As the Hungarian forint experiences volatility, German investors are increasingly advocating for Hungary to adopt the euro, reaching the highest level of support in over a decade
Eurostat data indicates that Greece (161.9%), Italy (137.3%), France (110.6%), Spain (107.7%), and Belgium reported the highest public debt-to-GDP ratios among EU member states by the conclusion of 2023
Concerns are mounting within the European Parliament regarding potential Russian interference in the forthcoming parliamentary elections, coupled with apprehensions surrounding Russian-owned properties in Bulgaria
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022