Greece Secures Aid Tranche after Passing Reforms

Posted by Eric Haun
Wednesday, August 13, 2014

Euro zone countries have approved the disbursement of a 1 billion euro tranche of aid to Greece after it passed a series of reforms to qualify for the money, the Greek government said on Wednesday.

The decision came after lawmakers passed a bill last week to merge public sector pension funds and allow more construction and business activity along Greece's long Mediterranean coastline, plans for which sparked outrage in the country.

The bill also included a proposal to supervise the funding of political parties.

The money - whose release was approved by the Euro Working Group - will help Greece meet bond payments later this month and precedes a major review of Athens' progress by the European Union and International Monetary Fund in September.

Greece is forecast to return to marginal growth this year after a six-year depression that has wiped out a quarter of its output.

It has enjoyed a turnaround in investor sentiment in recent months, but remains dependent on aid from its lenders who have staved off bankruptcy with two bailouts worth nearly 240 billion euros since 2010.

(Reporting by Lefteris Papadimas; Writing by Deepa Babington; Editing by Crispian Balmer)

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

US Navy to Roll out Underwater Spy Satellites

The robotic series that remade crusade in skies will shortly extend to a low sea, with underwater view “satellites,” drone-launching pods on a sea building and unmanned ships sport submarines,

Finance

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

India May Add Japanese Soryu-Class Submarines to its Fleet

India is reportedly considering a project to incorporate six Japanese Soryu-class diesel-electric submarines into its fleet, says The Japan Times.   The Defense

News

Gulf Bridge Express Service to End

The Gulf Bridge Express Service will shortly be terminated with the last roundtrip voyage being MV Saint Nikolaos voyage 00008S, ETA New Orleans on April 22, 2015.

Obangame Express 2015 Concludes in the Gulf of Guinea

Maritime forces from Gulf of Guinea nations, Europe, South America, and the United States and several regional and international organizations concluded the multinational maritime exercise,

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1222 sec (8 req/sec)