| Series Title | Kathimerini |
|---|---|
| Series Details | 08.12.14 |
| Publication Date | 08/12/2014 |
| Content Type | News |
|
The Greek Parliament approved the proposed budget for 2015 in Athens on the 7 December 2014. The Greek government forecast that, for the first time in a number of years, there would be no deficit and 2.9% growth in the economy. Prime Minister Antonis Samaras saw the the budget as a sign that Greece was approaching an end to 'an era of forced bailouts'. As the budget was approved, anti-austerity demonstrators protested outside the Greek Parliament. However, representatives of the Troika (European Commission, European Central Bank and the International Monetary Fund) who had supervised the bailout packages for Greece in the preceding years suggested that the budget projections were over-optimistic. Eurozone Finance Ministers debated the Greek situation in Brussels on the 8 December 2014. They agreed to extend Greece's bailout programme by two months, in the context of the political challenges facing the Greek government. The Greek government brought forward presidential elections to the 17 December 2104, to stave off having to hold a general election. Polls suggsted that the main opposition, the radical left Syriza party, would easily emerge as the winner in a general election after the severe austerity the Greek people had endured over six years. [On 6 November 2014 the Eurogroup ministers had discussed the follow-up to Greece's economic adjustment programme. They supported granting Greece a precautionary credit line. In the light of fragile market sentiment and challenging reforms in the pipeline, ministers strongly supported a precautionary credit line to be extended to Greece. This could be done through a European Stability Mechanism Enhanced Conditions Credit Line (ECCL) once the current programme has ended. The credit line would support Greece's efforts to regain full market access and build upon the achievements of the current programme. The details of the credit line and attached conditions would be determined in the coming weeks on the basis of the final review of the current programme. Ministers agreed that the IMF should continue to be involved]. |
|
| Source Link | http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_08/12/2014_545225 |
| Related Links |
|
| Countries / Regions | Greece |
