The strategy of austerity will have long-term consequences throughout Europe

/ Aug 19
Greece officially ends its international bailout program on Monday, after eight years of massive loans and relentless austerity measures. The completion of the loan program is a major accomplishment for Greece, but the country still
/ Aug 19
“For the first time since early 2010, Greece can stand on its own feet,” the European Stability Mechanism (ESM) rescue fund said as Athens exited its final, three-year international bailout program on Monday. The ESM
/ Aug 20
German Chancellor Angela Merkel said on Thursday her government would step up efforts to deport rejected asylum seekers faster, after hundreds of far-right protesters called on her to resign over her migration policy. The anti-Islam
/ Aug 16

SHORT

NEWS

Euro Fund: Greece has officially exited bailout program
“For the first time since early 2010, Greece can stand on its own feet,” the European Stability Mechanism (ESM) rescue
Greece’s bailout is finally at an end – but has been a failure

The strategy of austerity will have long-term consequences throughout Europe

HOT

NEWS

Euro Fund: Greece has officially exited bailout program
“For the first time since early 2010, Greece can stand on its own feet,” the European Stability Mechanism (ESM) rescue
Greece’s bailout is finally at an end – but has been a failure

The strategy of austerity will have long-term consequences throughout Europe

FLASH

NEWS

Euro Fund: Greece has officially exited bailout program
Phantis

“For the first time since early 2010, Greece can stand on its own feet,” the European Stability Mechanism (ESM) rescue fund said as Athens exited its final, three-year international bailout program on Monday.

The ESM allocated about $71 billion over the past three years, after an agreement…

Greece’s bailout is finally at an end – but has been a failure
Phantis

The strategy of austerity will have long-term consequences throughout Europe


This article titled “Greece’s bailout is finally at an end – but has been a failure” was written by Larry Elliott, for The Guardian on Sunday 19th…

0 4 mins
Phantis

“For the first time since early 2010, Greece can stand on its own feet,” the European Stability Mechanism (ESM) rescue fund said as Athens exited its final, three-year international bailout program on Monday.

The ESM allocated about $71 billion over the past three years, after an agreement was reached in August 2015 to help the country cope with fallout from an ongoing debt crisis.

“Today we can safely conclude the ESM program with no more follow-up rescue programs,” Mario Centeno, the chairman of the ESM’s board of governors, said in a statement. “This was possible thanks to the extraordinary effort of the Greek people, the good cooperation with the current Greek government and the support of European partners through loans and debt relief.”

In 2010, Greece was declared at risk of default after struggling with massive debt, loss of investment and huge unemployment. Overall, nearly $300 billion in emergency loans were provided in three consecutive bailout packages from a European Union bailout fund and the International Monetary Fund (IMF). In exchange, Athens was required to put in place severe austerity-based measures and reforms.

The completion of the loan program is a major accomplishment for Greece, but the country still faces an uphill battle to regain its economic stability.

The office of Prime Minister Alexis Tsipras described the final bailout loan last week as the “last act in the drama. Now a new page of progress, justice and growth can be turned.”

“Greece has managed to stand on her feet again,” his office said.

Economic growth in Greece is…

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Greece’s bailout is finally at an end – but has been a failure

The strategy of austerity will have long-term consequences throughout Europe

Greece officially ends international bailout program Monday
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By VOA Published on Aug 19, 2018
0 3 mins
Phantis

Greece officially ends its international bailout program on Monday, after eight years of massive loans and relentless austerity measures.

The completion of the loan program is a major accomplishment for Greece, but the country still faces an uphill battle to regain its economic stability.

The office of Prime Minister Alexis Tsipras described the final bailout loan last week as the “last act in the drama. Now a new page of progress, justice and growth can be turned.”

“Greece has managed to stand on her feet again,” his office said.

Economic growth,but challenges

Economic growth in Greece is slowly growing again, tourism is up nearly 17 percent in Athens this year, and once-record levels of joblessness are finally receding.

However, the country still faces massive challenges, including weak banks, the highest debt load in the European Union at 180 percent of GDP, and the loss of about a half-million mostly younger Greeks to Europe’s wealthier neighbors. Greece will also need to continue to repay its international loans until 2060.

By the time Greece completes the bailout program Monday, the country will have had three international bailouts, which took Europe to the brink of crisis.

The financial troubles exposed dangers in the European Union’s common currency and threatened to break the bloc apart. The large debt that remains in Greece and an even larger debt in Italy continue to be a financial danger to the EU.

Demonstrations

The…

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Once upon a time in central Greece … a small town fell in love with famed film composer Ennio Morricone and painted a huge mural in his honor. The residents of Larissa have launched a
/ Aug 16
“For the first time since early 2010, Greece can stand on its own feet,” the European Stability Mechanism (ESM) rescue fund said as Athens exited its final, three-year international bailout program on Monday. The ESM
/ Aug 20
“For the first time since early 2010, Greece can stand on its own feet,” the European Stability Mechanism (ESM) rescue fund said as Athens exited its final, three-year international bailout program on Monday. The ESM
/ Aug 20
“For the first time since early 2010, Greece can stand on its own feet,” the European Stability Mechanism (ESM) rescue fund said as Athens exited its final, three-year international bailout program on Monday. The ESM
/ Aug 20

WEEKLY

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Euro Fund: Greece has officially exited bailout program

/ Aug 20
“For the first time since early 2010, Greece can stand on its own feet,” the European Stability Mechanism (ESM) rescue fund said as Athens exited its final, three-year international bailout

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SPORT NEWS
VOA 19, Aug 3 mins
0 3 mins
Phantis

Greece officially ends its international bailout program on Monday, after eight years of massive loans and relentless austerity measures.

The completion of the loan program is a major accomplishment for Greece, but the country still faces an uphill battle to regain its economic stability.

The office of Prime Minister Alexis Tsipras described the final bailout loan last week as the “last act in the drama. Now a new page of progress, justice and growth can be turned.”

“Greece has managed to stand on her feet again,” his office said.

Economic growth,but challenges

Economic growth in Greece is slowly growing again, tourism is up nearly 17 percent in Athens this year, and once-record levels of joblessness are finally receding.

However, the country still faces massive challenges, including weak banks, the highest debt load in the European Union at 180 percent of GDP, and the loss of about a half-million mostly younger Greeks to Europe’s wealthier neighbors. Greece will also need to continue to repay its international loans until 2060.

By the time Greece completes the bailout program Monday, the country will have had three international bailouts, which took Europe to the brink of crisis.

The financial troubles exposed dangers in the European Union’s common currency and threatened to break the bloc apart. The large debt that remains in Greece and an even larger debt in Italy continue to be a financial danger to the EU.

Demonstrations

The bailouts also led to regular and sometimes violent demonstrations in Athens by citizens angry at the government’s budget measures required by international lenders in return for the bailouts.

While Greece has begun to make economic progress, economics say the bulk of the austerity measures will likely…

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