Athens Digest 22.06.2018

• Creditors declare Greece crisis over; IMF concerned about the long term debt sustainability

• MinFin Tsakalotos says deal sends positive signal to to markets

• Czech firms join bidding for power plants

• Wiretapping scandal-linked death to be probed as murder


# In what described as a “momentous moment” for Greece and the euro, the Eurogroup early this morning announced a comprehensive deal for Greece, including details of mid-term debt relief and post-programme surveillance. IMF managing director Christine Lagarde confirmed the fund would not be joining the third bailout but would take part in post-programme monitoring. She also expressed reservations regarding Greece’s debt sustainability in the long term. Other decisions include a final tranche of EUR 15 billion to shore up the cash buffer and a Greek commitment to primary surpluses 2.2 percent for the next four decades. You may find Eurogroup’s decision here.

# Greece’s government hailed the agreement reached by the Eurogroup on ending the programme. Finance Minister Euclid Tsakalotos told reporters in Luxembourg that it would give a clear signal to the markets. He welcomed the 10-year extension on repayment of EFSF loans as well as the extra grace period of 10 years on interest payments. He said that Greece will issue bonds 4-5 times within the next two years.

# Two Czech companies have made surprise bids for the Public Power Corporation’s coal-fired power plants at Florina and Megalopoli. Czech firms EPH and Indoverse joined the bidding, together with: Beijing Guohua Power Company with Damco Energy; GEK Terna; ElvalHalco; Energeticky, and Mytilineos Group.



On our Radar: Wiretapping scandal-linked death to be probed as murder
A senior prosecutor has filed murder charges against persons unknown over the 2005 death of a telecoms executive on the day before a major wiretapping scandal was revealed. The action will reopen an investigation into the death of Vodafone executive Costas Tsalikidis, 38, who was found hanged at his Athens apartment. A software hack was used to spy on calls and messages of senior Greek politicians, including then prime minister Costas Karamanlis. Last year, the Council of Europe’s Court of Human Rights ruled that Greek authorities had “failed to carry out an adequate and effective investigation into the circumstances surrounding the death of Tsalikidis.