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Greece to seek help to ‘smooth cash flow hump’ on EU loans

Greek finance minister Yanis Varoufakis has announced he will ask EU partners for further assistance in the coming weeks to “smooth over a cash-flow hump” on Greece’s EU loans.

Days after EU finance ministers agreed a four-month EU/IMF loan-extension to the €240 billion Greek programme, German finance minister Dr Schäuble warned Athens to stick to the agreed conditions for its four-month loan extension or put external funding at risk.

German finance minister issues warning to Greek government Varoufakis highlights battle between rules and macroeconomics at the euro group table Germany supports extension of Greek bailout programme

In an interview marathon over the weekend, both Greek and German finance ministers tried to put very different spins on last week’s deal in Brussels.

Mr Varoufakis vowed to begin work on detailing reforms he has vowed to implement by April, and to repay International Monetary Fund (IMF) loans of €1.5 billion due in March.

Debt rescheduling

But in interviews with the Associated Press and Germany’s Handelsblatt business daily, published today, he said he would ask for debt rescheduling talks with European institutions. “We intend to being the conversation with our partners and institutions regarding debt sustainability and debt rescheduling,” said Mr Varoufakis, saying it was “impossible” for Greece to meet obligations of almost €11.5 billion between June and August.

He said he would not seek a loan write-down or haircut – “haircut is a dirty word” – but would seek flexibility in repayment of its loans to the European Central Bank (ECB).

Mr Varoufakis said he was aware the Frankfurt institution was unlikely to be enthused by such talk, but saw no alternative.

“What we can do is package a deal that makes these repayments palatable and reasonably doable as part of our overall negotiation regarding the Greek debt,” he told the Associated Press. In the Handelsblatt interview, Mr Varoufakis floated the idea of credit swaps: issuing sovereign bonds whose returns were tied to Greece’s GDP figures.

“Then our creditors would also have an interest in Greece’s economy starting to grow again,” he said.

In Berlin, however, German finance minister Wolfgang Schäuble has warned his Greek colleague not to unpick last week’s agreement. It was “not his problem”, he said, how the hard-left Syriza government squared the loan extension it asked for last week with its election promise to do nothing of the sort.

“I have confidence in the Greek government to implement the necessary measures, establish a more efficient tax administration and ultimately to fulfil the conditions,” said Dr Schäuble.

“We made a clear agreement in the Eurogroup. Mr [Alexis] Tsipras made a promise. If Greece doesn’t stick to that, there will be no further aid.”

In an interview with the Bild am Sonntag, however, Dr Schäuble saved his strongest words for the Germany’s leading tabloid, urging it to stop cranking up fear over Greece’s EU/IMF programme.

In recent days Bild has stepped up its five-year-long campaign against Greece, urging MPs not to back a further loan extension for Greece. On Saturday it published a list of how all 587 MPs voted in Friday’s Bundestag vote – in which just 45 voted against or abstained.

Euro area votes

The Bundestag vote was one of several parliamentary votes across the euro area required for a four-month extension of the Greek programme with its 18 eurozone partners.

Dr Schäuble agreed in the Bild interview that German loans and guarantees top €60 billion to Greece, leaving each German citizen liable for €1,000 per head. But he pointed out that the lifespan of the liabilities was up to 32 years.

“Abstract calculations are misleading. You are a reputable newspaper and I am trying to do serious politics,” he said. “We Germans are better off than most people in the planet and most people who lived before us … your readers shouldn’t let their joy for life be ruined.”


2050 – The Future We Want Photo Competition | Peace Child …

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2050 – The Future We Want Photo Competition

By peace 2 July, 2013 Comments Off

2050 – The Future We Want Photo Competition

As part of the staging of the 2050 – The Future We Want musical and the celebration of the 20th Anniversary of Green Cross International, we are happy to welcome you to participate in the photo competition.

Theme: Climate Change.

How to enter

Send us an original photo taken by you, of good resolution and not less than 1MB showing climate change at its best in your area. Your photos should capture the effects of climate change, including social, economic, environmental etc. In short, any way you see climate change affecting lives on the planet.


  1. Open to young people between the ages of 18 and 30 from around the world
  2. Entrants may send not more than 3 photos.
  3. Each photo should be original. Unoriginal photos will be disqualified.
  4. Photos should be submitted as high resolution TIFF files.
  5. Entrants must refer to the full terms and conditions before entering.

All the entries should be sent to

The deadline for the entries is 15th July 2013 midnight GMT


A panel will select five (5) best photos that will be produced and displayed at the Grand Sale of UN’s Palais des Nations in Geneva, Switzerland during the staging of the 2050 – The Future We Want musical on September 3rd.

The winners will be announced on 20th July.




The Musical […]

Obtaining The Best From Your Online Payday Loans | Automotive …

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Ensure you may attain an individual in the pay day loan firm you want to select. Many companies on this kind are sprouting up on the internet, so it may seem how the one particular you are looking at is a superb one particular. Nonetheless, if you fail to attain an individual easily, that may be a warning sign and a indicator something is improper with that firm.

With a little luck, this information has you effectively armed like a customer, and knowledgeable concerning the details of payday loans. Exactly like other things on the planet, you will find positives, and disadvantages. The golf ball is in your court like a customer, who should understand the details. Consider them, and get the best choice!


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Key Considerations For Using Pay Day Loans – Food Neighbourhood

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Whenever a financial disaster happens in your life, the anxiety might be intolerable. With the bodyweight on the planet on your own shoulder area, you require some assistance! When you are thinking about the options a payday advance may provide, continue reading through for a few useful guidance that will make your final decision better.

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Hopefully, this article you merely go through has given you some very helpful tips, along with a better idea of how you will ought to carry on. If you are planning to apply for a payday advance, you have to be sure you understand all the facts and exactly what you are registering for.


Scott Tucker Payday Loans In the Le Mans Is Interesting

Consumers talk all of the time about what Scott Tucker Payday Loans, or Degree 5 Motorsports as it is commonly named, has completed with the American Le Mans Series. But, individuals really should also give consideration to what Scott Tucker Payday Loans has truly accomplished in Le Mans. The 24 Hours of Le Mans competition may be the world’s most notable endurance race and Scott Tucker in addition the other members of Degree 5 have competing in it via various types.

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The motorists that Tucker has hired to the races at Le Mans had been diversified. He competed with Christophe Bouchut in both from the races that he was in. He also competed with Guide Rodrigues in 2011 and with Joao Barbosa in 2011.

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Hey there i am scott tucker payday loans in addition to my partner and i live life along with give good results in the country. At my free time i enjoy go out with our associates along with our kids. When i really have to point out the level of i like to sports activities.


What is Cash Advance and Payday Loans.Can be a Rapidly Cash …

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