ATHENS adidas nmd chukka trail uk , Aug. 20 (Xinhua) -- The first tranche of the new Greek bailout program, the third in five years, was disbursed on Thursday on time allowing Athens to repay its maturing debts to international creditors, the finance ministry announced.
The announcement came as Prime Minister Alexis Tsipras was holding a meeting with his close aides and advisors to examine the prospect of calling snap general elections this autumn, government sources said.
Following the ratification of the new 86-billion-euro-worth (96 billion U.S. dollar), three-year bailout by the European Support Mechanism on Wednesday evening adidas nmd human race uk , the first loan installment of a total of 26 billion euros was paid out, the national Greek news agency AMNA reported.
About 13 billion euros were allocated to a special account at the Bank of Greece to automatically repay a 3.4-billion-euro debt to the European Central Bank (ECB) due on Thursday, a 2.2 billion euro debt to the International Monetary Fund (IMF), and the rest to pay off the 7 billion euro bridging loan ESM granted to the country in July.
Furthermore, 10 billion euros in the form of European Financial Stability Facility bonds will be used to recapitalize Greek banks, while one billion euros will be used for the payment of overdue obligations of the Greek government to the private sector.
The development clears the way for the premier to decide on his next steps in the domestic political scene adidas nmd r2 womens uk , analysts in Athens noted.
According to government sources, Tsipras was considering requesting a new confidence vote in his government soon and, in case of failure to win back his party's "rebels", will call snap elections for September or October.
With dissidents within the ruling Syriza party openly blasting the government of making a U-turn on the anti-austerity platform that brought the party to power last January, early polls seem almost inevitable, according to cabinet ministers adidas nmd xr4 uk , opposition parties, and local media.
According to government sources, Tsipras was thinking about calling a ballot as early as Sept. 13.
The second idea is to hold the elections later in October so that the government passes some bailout policies through the parliament first, on time for the first assessment by creditors that will pave the way for the discussion on the Greek debt relief.
In order to ensure that the measures will be ratified by the assembly with no problems from Syriza MPs (members of the parliament), the premier could close the plenary so that the draft bills are put to vote in reduced summer parliamentary sessions where he can control the appointment of Syriza deputies.
Related:
Eurozone's 19 countries, hold a teleconference on the Financial Assistance Facility Agreement (FFA) with Greece and the adoption of a fresh Memorandum of Understanding (MoU). Full story
ESM approves Greek 86-bln-euro bailout plan
BRUSSELS adidas nmd city sock uk , Aug. 19 (Xinhua) -- The European Stability Mechanism (ESM) on Wednesday approved Greek third bailout package, unlocking the first disbursement of 13 billion euros (14.46 billion U.S. dollars) to Greece a day before it has to repay a 3.2-billion-euro loan to the European Central Bank.
According to a statement released by the ESM, the board of governors, comprising the finance ministers of the euro zone's 19 countries, approved a proposal for a financial assistance facility agreement (FFA) with Greece, under which the ESM will provide up to 86 billion euros in financial assistance to Greece over three years. Full story
Fresh doubts raised over privatization of 14 Greek airports
ATHENS adidas nmd xr1 uk , Aug. 19 (Xinhua) -- Fresh doubts were raised on Wednesday after the government finalized a 1.23-billion-euro deal (1.36 billion U.S. dollars) with the German consortium Fraport-Slentel on Tuesday to privatize 14 regional airports in Greece.
The sale of the airports' operation rights for four decades was the first privatization to be concluded under the third bailout that was ratified by the Greek parliament on Friday.
GENEVA, Sept. 23 (Xinhua) -- The annual economic growth ofSwitzerland in 2017 is expected to be below one percent afterrevision, possibly the slowest since 2009, State Secretariat forEconomic Affairs (SECO) said Saturday.
The latest statistics from SECO predicted a growth rate of 0.9percent for 2017, which has fallen from previous estimates of 1.4percent, possibly marking the worst-performing economic year sincea 2.2 percent contraction in 2009.
SECO said the economy is "only gradually resuming a strongergrowth trajectory" adidas nmd high top , mostly due to slow growth in most servicesectors, despite an uptick in the performance of the manufacturing,hotel and catering industries.
The figures are in line with similar downgrading of expectationsby the Swiss National Bank.
Earlier this week, Credit Suisse revised its forecast from 1.5to 1 percent, noting decreased dynamism of some recent growthdrivers including high immigration and a housing boom.
However, SECO seems to be optimistic that stronger growth wouldtake off again next year adidas nmd runner womens uk , predicting a two-percent growth for 2018,due to predicted global growth and the effect of the currentdepreciation of the Swiss franc.
"The Swiss export sector is benefiting from the healthy globaleconomy, and will do so all the more if the Swiss franc, which hasdepreciated in the summer, maintains its new level," SECO said.
It also noted that domestic demand is expected to gain momentumfrom 2018 adidas nmd trainers uk , with the private consumption expecting to achievemoderate growth. Meanwhile, the job market is also tipped to slowlyimprove by a 0.8-percent rise next year, SECO claims, bringing theunemployment rate down to three percent. Enditem
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