Daily Management Review

EU urges Greece to stop wasting time


03/10/2015




Time is running fast for Greece with the recent warning from the Eurozone finance ministers advising the debt-ridden nation on Monday to not waste time and push its reforms faster.

The nation’s progress is considered slow bv the Eurozone ministers who have been closely monitoring the country ever since a bailout program was unveiled in February. The ministers have also noted that the treasury of the country could go empty in a matter of weeks if the measures are not put in place.
Eurogroup chairman Jeroen Dijsselbloem specifically noted that little has been done since the last Eurogroup in terms of talks and implementation. The ministers were also not really convinced by the latest letter that was delivered by Greek Finance Minister Yanis Varoufakis on Friday, with seven new processes. While rejecting the new steps, the chairman mentioned that though it looks like a starting point, there are not enough steps mentioned to release the bailout money provided by the Eurozone.
The trouble in the Greek paradise refused to ebb down even when last week the county requested for a €2bn increase in emergency liquidity (ELA) ceiling out of which €500m was granted by the European Central Bank.

Currently, all the decisions concerning bailout plans for the country will be coordinated by the European Commission, the European Central Bank and the International Monetary Fund, which are called as the Troika. The Eurogroup itself comprises of the finance ministers of the 19 countries which are part of the European Monetary Union.

While the country is still ridden by the debts taken for bailout, its newly-elected government came to power only with triumphant promises to the voters that it would wipe austerity measures put upon the economy by the Eurozone creditors.






Science & Technology

Motorola’s New Patent Will Self-Heal A Cracked Smartphone Screen

Auto Parts Out Of Wood Is What Japan Is Looking At Making

Security Firm Claims Hotel Guests Across Europe Were Targeted By Russia-Linked Hackers

World’s First Genetically-Modified Animal To Enter Food Supply Is Salmon

In The Future, UBS Analyst Says, Multiple Planes Could Be Operated From The Ground By Today’s Pilots

Will Germany save diesel?

How China became a pioneer of the solar industry

CNBC: Intel leaves the wearable gadgets market

Oculus Rift falls in price…again

Ukraine Police Official Says Likely Cover For Malware Installation Was Global Cyber Attack: Reuters

World Politics

World & Politics

China counts losses from sanctions against the DPRK

OCP Group Vs South African Courts: A storm is brewing on international maritime trade

Britain to conduct a study on labor migration after Brexit

CNN: Rex Tillerson may leave the post of US Secretary of State

Its South China Sea Territory Being Protected By Indonesia From 'Foreign' Threats

A Swarm-Like Attack From North Korea Could ‘Overwhelm’ South Korea's THAAD Missile Shield

Powerty in Italy tripled in 10 years

Hackers steal a businessman's reputation in Sweden