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Athens Macedonian News Agency: News in English, 15-12-14

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] IMF's Velculescu: Greece needs a significant reduction of its external debt
  • [02] ECB emergency funding to Greek banks falls by 5.3 bln euros in Nov.

  • [01] IMF's Velculescu: Greece needs a significant reduction of its external debt

    The IMF mission chief for Greece, Delia Velculescu, on Monday said additional reforms in the Greeek social security and pension system are required in order to achieve a primary surplus.

    According to a Bloomberg dispatch from New York City, Velculescu argued that initiatives taken so far on the Greek debt issue were not enough to restore its sustainability, adding that the weak fiscal position of Greece is a challenge for economic policy.

    Speaking at a speaking at an investment conference, she also argued that the focus should be on reforms that improve competitiveness.

    [02] ECB emergency funding to Greek banks falls by 5.3 bln euros in Nov.

    Greek banks' dependence on emergency central bank funding dropped by 6.4 percent, or 5.3 billion euros, in November compared with the previous month, according to data published by the Bank of Greece on Monday.

    Emergency funding (ELA) fell to 77.6 billion euros at the end of last month from 82.8 billion in October, as liquidity conditions improved.


    Athens News Agency: News in English Directory - Previous Article - Next Article
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