Athens fights to head off cash crunch

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Series Details 19.9.11
Publication Date 19/09/2011
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Preview and reports of an important conference call between Greek Finance Minister Evangelos Venizelos and representatives from the Troika that created the €109bn rescue package granted to Greece in 2010, including the European Commission, the European Central Bank and the International Monetary Fund.

Greece was seeking to persuade its lenders that it deserved another €8bn loan payment from the package. The onus was on the Greeks to prove they were delivering the budget cuts and fiscal reforms mandated by the emergency loan. A German-led group of European creditor countries had made clear they were unsatisfied with measures so far, including further austerity measures announced only the previous week.

Reports on the 21 September 2011 suggested that negotiations were progressing satisfactorily. Debt inspectors from the European Commission, European Central Bank, and International Monetary Fund would return to Athens the following week for further negotiations.

Related Links
To Vima, 19.9.11: Eating from bins – the new make do (via PressEurop) http://www.presseurop.eu//en/content/article/964881-eating-bins-new-make-do
EUObserver, 16.9.11: EU task force for Greece ‘here to help, not control’ http://euobserver.com/19/113649
ESO: Background Information: Uphill struggle to patch Greek budget holes http://www.europeansources.info/record/uphill-struggle-to-patch-greek-budget-holes/
BBC News, 20.9.11: Greece bailout: European Union troika making 'progress' http://www.bbc.co.uk/news/business-14997251
EUObserver, 21.9.11: Troika to return to Athens next week http://euobserver.com/19/113692
EurActiv, 21.9.11: Greece pledges more austerity to avoid default http://www.euractiv.com/euro-finance/greece-pledges-austerity-avoid-d-news-507802
ESO: Background information: The Greek debt crisis of 2010 http://www.europeansources.info/record/the-greek-debt-crisis-key-sources/
IMF: Press Release, 19.9.11: Remarks by Bob Traa, Senior IMF Resident Representative in Athens, Greece Economist Conference September 19, 2011 http://www.imf.org/external/np/speeches/2011/091911.htm
Kathimerini, 19.9.11: Greece locked in loan talks http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_8991_19/09/2011_407150
Kathimerini, 19.9.11: FinMin vows to meet pledges http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_15_19/09/2011_407148
Kathimerini, 19.9.11: Greeks to vote on future in eurozone? http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_12674_19/09/2011_407137
Deutsche Welle, 20.9.11: Pressure grows on Greece, Italy hit by credit downgrade http://www.dw-world.de/dw/article/0,,15400732,00.html
BBC News, 19.9.11: Greece says debt talks to avert default 'productive' http://www.bbc.co.uk/news/business-14969034
EurActiv, 19.9.11: Eurozone meeting ends on debt crisis stalemate http://www.euractiv.com/euro-finance/eurozone-meeting-ends-debt-crisis-stalemate-news-507736
Kathimerini, 20.9.11: Troika keeps Greece hanging on for loan http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_354_20/09/2011_407312

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