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