{"id":33021,"date":"2015-02-16T07:00:29","date_gmt":"2015-02-16T07:00:29","guid":{"rendered":"http:\/\/www.tradersdna.com\/?p=33021"},"modified":"2021-03-16T09:54:01","modified_gmt":"2021-03-16T09:54:01","slug":"greece-troika-resume-talks-following-eurogroup-breakdown","status":"publish","type":"post","link":"https:\/\/mktplace.org\/greece-troika-resume-talks-following-eurogroup-breakdown\/","title":{"rendered":"Greece, Troika Resume Talks Following Eurogroup Breakdown"},"content":{"rendered":"<p>Greece and its Troika of international lenders resumed talks on Friday after the Hellenic Republic failed to reach an agreement with its European partners at Wednesday\u2019s ministerial meetings.<\/p>\n<p>Talks between Greece and Eurozone finance ministers broke down on Wednesday after both sides failed to reach a political agreement on how to keep Greece financed past February. According to Eurogroup President Jeroen Dijsselbloem, no \u201ccommon ground\u201d was reached that would allow both sides to move forward.<\/p>\n<blockquote><p>\u201cWe need a political decision before the financial institutions can get to work. We might make the final progress we need at next Monday\u2019s Eurogroup meeting,\u201d Dijsselbloem said after Wednesday\u2019s Eurogroup meetings.<\/p><\/blockquote>\n<p>The newly appointed Greek government headed by Alexis Tsipras has vowed to renegotiate his country\u2019s \u20ac240 billion bailout plan and put an end to \u201ccruel\u201d austerity. His far-left Syriza party successfully campaigned on the platform of \u201canti-austerity,\u201d promising its voters to raise the minimum and cut taxes. Syriza secured 149 of 300 seats in the Hellenic Parliament in January\u2019s snap elections.<\/p>\n<p>Monday\u2019s ministerial meetings could be the last moment for the newly elected Greek government to ask for an extension of the current bailout program, which expires February 28. Mr. Tsipras said on Monday his country would not seek an extension of the current bailout, but would instead focus on finding a new agreement. Given the breakdown in talks on Wednesday, the Greek government may seek a \u201ctechnical\u201d extension to shore up support for broader reforms in the future. Sources close to the talks suggest Greece could ask for a longer bridge loan through August to cover the government\u2019s immediate funding needs.<\/p>\n<p>Despite suffering an immense economic collapse during the Great Recession, Greece is still part of the Eurozone\u2019s long term plan, a sign European lawmakers are willing to consider relaxing some of the bailout terms. Greece\u2019s exit from the Eurozone, it is feared, could trigger a mass exodus from the fledgling currency union.<\/p>\n<p>In economic data, Greece\u2019s economy shrank once again in the fourth quarter, official data revealed today. Greece\u2019s gross domestic product declined 0.2 percent quarter-on-quarter, following an increase of 0.7 percent in the July to September period.<\/p>\n<p>Meanwhile, the Eurozone economy expanded 0.3 percent in the fourth quarter, following a 0.2 percent increase in the second quarter. A median estimate of economists called for an increase of 0.2 percent. In annualized terms, Eurozone GDP expanded 0.9 percent, official data showed.<\/p>\n<div id=\"mouseposition-extension-element-full-container\" style=\"position: fixed; inset: 0px; pointer-events: none; z-index: 2147483647; font-weight: 400;\">\n<div id=\"mouseposition-extension-element-rect-display\" style=\"display: none; position: absolute; background: rgba(255, 255, 255, 0.7); outline: black solid 1px; font-size: 12px; z-index: 2147483647; justify-content: center; align-items: center; user-select: none; cursor: default; color: #000000; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; width: 0px; height: 0px;\">\n<pre style=\"flex: 1 1 0%; text-align: center; background-color: rgba(255, 255, 255, 0.7); color: #000000; min-width: 42px; min-height: 12px; transition: all 1s ease 0s;\"><\/pre>\n<\/div>\n<pre id=\"mouseposition-extension-element-coordinate-display\" style=\"position: absolute; display: none; background: #ffffff; font-size: 12px; line-height: 14px; border-radius: 3px; border-width: 1px; border-color: #222222 black #333333; border-style: solid; padding: 3px; z-index: 2147483647; color: #222222; user-select: none; cursor: default; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif;\"><\/pre>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Greece and its Troika of international lenders resumed talks on Friday after the Hellenic Republic failed to reach an agreement with its European partners at Wednesday\u2019s ministerial meetings. Talks between Greece and Eurozone finance ministers broke down on Wednesday after both sides failed to reach a political agreement on how to keep Greece financed past [&hellip;]<\/p>\n","protected":false},"author":99,"featured_media":45411,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"codedeyo_gutenberg_meta":"","footnotes":""},"categories":[1],"tags":[1309,1308,52,1307,646,721,1310,1306],"class_list":["post-33021","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-austerity","tag-bailout","tag-economy","tag-eurogroup","tag-gdp","tag-greece","tag-gross-domestic-product","tag-troika"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Greece, Troika Resume Talks Following Eurogroup Breakdown<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mktplace.org\/greece-troika-resume-talks-following-eurogroup-breakdown\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Greece, Troika Resume Talks Following Eurogroup Breakdown\" \/>\n<meta property=\"og:description\" content=\"Greece and its Troika of international lenders resumed talks on Friday after the Hellenic Republic failed to reach an agreement with its European partners at Wednesday\u2019s ministerial meetings. 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