Greek PM Tsipras kicks out rebels in government reshuffle

  • World
  • Saturday, 18 Jul 2015

(Reuters) - Following is the latest news on Greece's debt crisis. All times are in GMT.


1902 - Greek Prime Minister Alexis Tsipras on Friday kicked out of his government rebel ministers who voted against reforms demanded by international creditors in return for a rescue deal.

1857 - Greek Prime Minister Alexis Tsipras on Friday kicked out of rebel ministers who voted against reforms demanded by international creditors in return for a rescue deal.

1848- Italian Economy Minister Pier Carlo Padoan said on Friday that negotiations with Greece on a third bailout programme must be balanced and aimed at both keeping spending in check and fostering growth.

1740 - Greek Finance Minister Euclid Tsakalotos will keep his portfolio in a reshuffle to be announced later on Friday, a government source said.

1619 - The head of the Eurogroup Jeroen Dijsselbloem said on Friday he was "certain" there would be problems with Greece in the years to come after the euro zone's bailout fund decided to open talks with Greece on a third bailout programme.

1607 - The European Stability Mechanism, the euro zone's bailout fund, decided on Friday formally to open negotiations with Greece on a third bailout programme that could total 86 billion euros ($93.3 billion) over three years, the fund said in a statement.

1430 - European Commission Vice President Valdis Dombrovskis said on Friday he hoped that a three-year bailout programme could be agreed with Greece within a few weeks and added that debt restructuring would be a feature of such talks.

1231 - Dozens of Athens residents flee their homes as wildfires fanned by strong winds and high temperatures burn through woodland around the capital, compounding the problems facing the government of Prime Minister Alexis Tsipras

1156 - German lawmakers give go ahead for the euro zone to negotiate a third bailout, heeding a warning from Chancellor Angela Merkel that the alternative was chaos. But 60 member's of Merkel's conservatives vote against.

1109 - European Council chief Donald Tusk tells Le Monde it is premature to discuss holding a meeting on Greece's debt but it cannot be excluded that one will be needed.

1050- Austria's parliament gives its government mandate to open negotiations on a new bailout for Greece

0956 - Greek banks ready to open on Monday but waiting for central bank approval, says senior Greek banking source

0938 - German finance ministry spokesman says no deadline for negotiations on third Greek aid package, talking about at least weeks

0933 - Greek labour minister Skourletis set to be named as energy minister, replacing leftist party rebel Lafazanis, government source says

0930 - German's Schaeuble says debt haircut is ruled out under European law

0926 - German Finance Minister Wolfgang Schaeuble urges lawmakers to back bailout negotiations, says this is last attempt to resolve crisis

0846 - German economy minister Gabriel says Greece must change dramatically to get out of deep crisis

0824 - Merkel says alternative to agreement would be chaos

0817 - German Chancellor Angela Merkel says "time out" for Greece was not doable

0619 - French Finance Minister Michel Sapin reaffirms Paris' view that Greece needs debt relief

0545 - IMF Managing Director Christine Lagarde says Fund ready to participate in what she calls a "complete" package for Greece


1409 - Greek banks to reopen on Monday after ECB decision to raise emergency funding: senior banker

1401 - Eurogroup's Dijsselbloem says Greek asset sales to take place over more than three years, generate income for paying debts off over more than 20 years; 50 billion euro target for asset fund is "realistic"

- Dijsselbloem seeking 7 bln euros in bridge financing to enable Greece to repay IMF arrears on Monday

- Broad agreement in Eurogroup that IMF needs to be involved in new Greek bail-out: Dijsselbloem

1319 - EU'S Juncker says EU finance ministers agree to use EFSM for 7 bln bridge financing for Greece

1313 - ECB's Draghi says Greek crisis has shown euro zone is imperfect, fragile

1205 - Greek interior minister Voutsis says snap election may be held in September or October

1143 - Irish PM expects 7 bln euro Greek bridging loan to be approved by EU finance ministers after senior officials agree

1041 - European Commission says Greece could get short-term funds rapidly.

1014 - Spain sells 6.4 billion euros ($7 billion) in bonds at its biggest auction in over a year, with benchmark yields falling, helped along by confidence after Greece's bailout vote.

0949 - Finland's parliament gives to Greek bailout negotiations.

0924 - Timing of agreement on EU bridge loan to Greece may delay ECB plans to raise Emergency Liquidity Assistance for Greek banks.

0713 - European shares hit six-week high on news of Greek parliament vote.

0619 - German Finance Minister Wolfgang Schaeuble says he will submit a request to Germany's parliament to reopen negotiations on Greece's third bailout with "full conviction", but still believes a temporary Grexit would perhaps be a better option.

0614 - Klaus Regling, head of the European Stability Mechanism, warns of a collapse in the Greek banking system if the country does not secure a third bailout, saying this would have consequences for the entire euro zone.

0610 - Greece's approval of a bailout deal overnight could persuade the European Central Bank to ease its funding squeeze on Athens as soon as Thursday, the first step in reopening banks and returning some normality to its stricken economy.

(Compiled by Toby Chopra)

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