under its new bailout program. For debt relief talks to proceed, Greece needs to implement the reforms it has already passed, enact further required measures and pass its first program review, European Union Economic Affairs Commissioner Pierre Moscovici told reporters in Brussels. At that point, he said, authorities can review “under what conditions the Greek debt will be sustainable” and how to “reduce the servicing of the debt.” Debt relief talks should be able to start by the end of November if Greece sticks to the schedule, Moscovici said.
Greece’s economy grew by 0.7 percent in 2014, down from a previous estimate of 0.8 percent released in March, revised data from the country’s statistics service ELSTAT showed yesterday. The economy is forecast to contract by 2.3 percent this year. Economy Minister Giorgos Stathakis said last week that the recession could be shallower as the econo- my will benefit from strong tourism and a milder impact than expected from capital controls imposed in late June. Greece also revised figures for 2011, 2012 and 2013 gross domestic output, incorporating updated data and the results of a 2011 census.
“Who speaks of SYRIZA now?” That was the question Irish Public Expenditure Minister Brendan Howlin asked as he laid bare the government’s strategy in parliament to win a second term in an election due within months. Detailing the 2016 budget in Dublin yesterday, the coalition promised fiscal restraint and stability, drawing a contrast with the chaos that engulfed Greece after SYRIZA won power in January. The Irish administration also promised to follow up yesterday’s announcements of tax cuts and spending increases with more bounty if re-elected.
AUSA 2015. Alternate Defense Minister Dimitris Vitsas (center) opened the Hellenic Pavilion at the Association of the US Army’s 2015 Annual Meeting in Washington DC, with Greek Ambassador Christos Panagopoulos, AUSA head General Gordon Sullivan, and Simos Anastasopoulos, head of the American-Hellenic Chamber of Commerce.