Tuesday August 14, 2018
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Eurogroup offers three-year grant as Greece accepts austerity measures

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By NewsGram Staff Writer

The Eurogroup on Thursday agreed to offer Greece a three-year grant from the European Stability Mechanism (ESM), following the Greek parliament’s approval of austerity measures demanded by creditors earlier in the day.

However, doubts about the Greek debt sustainability remain as some believe the bailout deal may not work without “haircuts”.

“We reached today a decision to grant in principle a three-year ESM stability support to Greece, subject to the completion of relevant national procedures,” the Eurogroup said in a statement after a teleconference among its finance ministers, Xinhua reported.

European Union (EU) institutions are expected to swiftly negotiate with the Greek government on a memorandum of understanding (MoU) “detailing the policy conditionality attached to the financial assistance facility”, the statement added.

The negotiation will follow the “completion of the relevant national procedures and the formal decision by the ESM board of governors expected by the end of this week,” it said.

The Eurogroup also urged Greek authorities to “swiftly adopt the second set of measures by July 22 as foreseen in the Euro Summit statement”.

Heads of the 19 eurozone member states on Monday reached a fresh bailout deal for Greece worth up to 86 billion euros (about $94 billion) and promised swift negotiations on a MoU as soon as Greek lawmakers ratify their summit statement and approve a first set of austerity measures on July 15.

A total of 229 Greek lawmakers of the parliament’s 300 seats on early Thursday voted in favour of the summit statement and the first set of taxation and pension system reform measures, with 64 against and six abstentions.

The approvals are viewed as prerequisites for Greece and its creditor’s further talks on the new bailout plan.

(With inputs from IANS)

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Australian Man Jacob Welsh from Geelong, Melbourne raises $4,000 to bring stray dog home from Greece

Welsh said he and Chance became inseparable after he found her lying in a pile of broken glass on the side of a busy road in Greece

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Jacob Welsh with the dog. Image source: Facebook

Melbourne, Sept 6, 2016: An Australian man Jacob Welsh has raised $4,000 to bring a stray dog home from Greece.

Welsh is from Geelong, 75 km from Melbourne, raised the money on a popular crowd-funding Website, to bring the dog, which he named “Chance,” back to Australia, Xinhua news agency reported on Tuesday.

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The resounding success of the campaign guaranteed Chance would have a home for the rest of her life, said Welsh.

“Thank you! She will not spend another night on the street thanks to all the help we’ve received,” Welsh wrote on social media on Tuesday.

Welsh said he and Chance became inseparable after he found her lying in a pile of broken glass on the side of a busy road in Greece.

“I called her over to me and she hesitantly approached, I gave her a little pat and ever since then she has followed me wherever I go,” he wrote on social media earlier.

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“I didn’t have the heart to leave her on the street after that so since then I have been sneaking her into my apartment, which has a strict no-pets policy.

“The sad reality of her going back on the streets is becoming more and more real as my time left in Greece comes to an end.

“Australia’s laws are very strict with this kind of thing but I have done the research and it is possible, just very expensive. If you can spare a few dollars Chance and I would really appreciate it.”

Costs involved in bringing an animal into Australia include a rabies vaccine, pet passport, plane tickets, airport transfers, de-worming medication and a pet carrier box. (IANS)