English

Friday, 14 June 2019

Outgoing govt petitions high court to bypass law freezing recently announced hiring of 15K teachers

The outgoing leadership of Greece’s education ministry this week petitioned the Council of State (CoS), the country’s highest administrative court, to exclude the recently announced hiring of 15,000 educators for…

Aktor completes major metro project in Qatar; assume maintenance contract

By T. Igoumenidi [email protected] Athens-based Aktor this week announced that it has completed a metro line in Doha, Qatar, and the “Gold Line”, specifically, which will soon be opened for…

Greek bond market rally continues; yield falls to historic low ahead of July 7 elex

Demand for Greek debt continued unabated this week, the pressure driving yield for the 10-year Greek bond to a historic low of 2.69 percent, and with the spread – compared…

Mitsotakis: Privatization of Kavala, Alexandroupolis ports must be implemented quickly

By V. Vegiri & G. Hatzilidis Center-right New Democracy (ND) leader on Thursday detailed his poll-leading party’s position on the further privatization of several regional ports around the country, citing…

Piraeus Bank’s subsidiary in Bulgaria sold to Eurobank Bulgaria AD

The transfer of Piraeus Bank’s subsidiary in Bulgaria, Piraeus Bank Bulgaria AD (PBB), to Eurobank Bulgaria AD was completed on Friday. Athens-based Piraeus Bank announced the development in a press…

Thursday, 13 June 2019

Opinion poll: Median ND lead over SYRIZA at 8.5% points; figure show possible majority govt

The latest results from a major opinion poll on Thursday showed a lead by center-right New Democracy (ND) party over leftist SYRIZA at 8.5 percentage points, the mediam difference from…

IMF’s Rice: Up to Euro partners to take next step for premature payment of Fund loan by Greece

An IMF spokesman on Wednesday clarified that European partners must take the next step if Greece insists on paying off a more expensive loan extended by the Fund before its…

ATHEX CEO to Bloomberg: World-leading Athens bourse expects more profits after July 7 elex

Bloomberg on Thursday joined the “political change” bandwagon in Greece, in an article entitled “Greece, World’s Best Stock Market, Touts Turnaround From Crisis”, with the dispatch extensively quoting Athens Stock…

Regling: Tsipras govt in clear-cut violation of procedures; risk of fiscal target not being met

Fulfilling terms it had agreed to with European creditors in 2018 is an absolutely necessary condition for further debt relief measures, ESM Managing Director Klaus Regling warned on Thursday, confirming…

Wednesday, 12 June 2019

Former high court prosecutor charges ‘procedural violations’, fast-track indictments in controversial Novartis furor

The latest twist in the drawn-out Novartis kickbacks investigation are accusations by a former supreme court prosecutor over prior knowledge of the probe by both the current justice minister and…

Survey of top CEOs in Greece shows increased optimism, FDIs in coming five-year period

A survey of 35 CEOs and top corporate executives in Greece shows an increased confidence that FDIs attracted by the country will continue to grow in the coming years, following…

Lidl announces additional investment in Greece of 120 mln€ during current fiscal year

Lidl Hellas announced additional investments in Greece of up to 120 million euros in the current fiscal year, ending in February 2020. According to Lidl Hellas President Iakovos Andreanidis during…

Tuesday, 11 June 2019

US ambassador Pyatt at Atlantic Council: Washington dedicated to every dimension of alliance with Greece

US ambassador to Greece Geoffrey Pyatt pointed to a reinforced military cooperation between Greece and the United States as reflecting a tangible commitment by the US administration  to support its…

Criticism over state TV channel’s live broadcast of incumbent PM’s campaign rally instead of nightly news

A decision by the state broadcaster (ERT) on Monday evening to cancel its primetime newscast and, instead, show the kick-off campaign address by incumbent Prime Minister Alexis Tsipras, generated a…

ΒοG Gov Stournaras strikes again: Athens will miss this year’s 3.5% primary budget surplus target; 2.9% likely

Influential Bank of Greece (BoG) Gov. Yannis Stournaras struck again on Tuesday, a day into the official pre-election season, saying he forecasts that the Greek state will meet a 3.5-percent…

Reuters cites top Pentagon military officer as saying Greece a possible F-35 buyer

Greece is among the potential new buyers of the US-made F-35, according to a Reuters dispatch on Tuesday, which cited statements by Vice Adm. Mathias Winter, the head of the…

Vessel carrying irregular migrants sinks off Lesvos, six fatalities reported so far

A migrant-laden vessel attempting to approach the eastern Aegean island of Lesvos (Mytilene) sunk on Tuesday morning some 2.5 nautical miles from the island’s capital, with six fatalities reported so…

Mitsotakis: First 2 decisions of next ND goverment will be to free up Helleniko privatization

Center-right New Democracy (ND) leader Kyriakos Mitsotakis stayed “on message” Tuesday evening, kicking off his official campaign tour in the western port city of Patras by promising that the first…

Monday, 10 June 2019

Top European awards for trio of Greece resorts

A trio of well-known Greek resorts picked up European distinctions this week, during the 26th “World Travel Awards”, held in Madeira, Portugal, with Elounda Beach Hotel & Villas, picking up…

Tsipras finally asks for dissolution of Parliament – 2 weeks after Europarliament, local govt elex defeats

Greek Prime Minister Alexis Tsipras finally arrived at the presidential mansion in Athens – just across the side street from his Maximos Mansion office – on Monday afternoon to request…

Athens bourse posts 13-month peak ahead of official declaration of early elex for July 7

A more-or-less two-week “rally” at the Athens Stock Exchange (ATHEX) continued on Monday, hours before snap elections in the country will officially be declared for July 7. Greek Prime Minister…

DryShips announces full acquisition of Heidmar tanker pool operator

DryShips on Monday announced the acquisition Heidmar Inc., a global tanker pool operator, acquiring 100-percent of the latter’s shares. Prior to the transaction, DryShips indirectly owned approximately 49.8 percent of…

KPMG: Greece first in terms of bootleg cig, tobacco products sales in EU28; lost revenue of 690 mln€ in 2018

Greece-based cigarette maker Papastratos on Monday called for continued action against the bootleg sale of tobacco products in the country, following the release of a KPMG report showing that the…

Outlay by Vafias shipping concerns reaches 90 mln USD for vessel purchases over recent period

By L. Karageorgos [email protected] The Vafias family, headed by veteran shipping executive Nikos Vafias, has reportedly invested upwards of 90 million USD over the recent period for various types of…

Abolition of tax breaks, linked with scrapped austerity measure, affect one mln Greek taxpayers

By G. Palaitsakis [email protected] Nearly one million self-employed professionals, craftsmen and owners of SMEs in Greece are on the “downside” of a decision, by the outgoing Tsipras government, to abolish…

Sunday, 09 June 2019

Small right-wing AN.EL party to skip upcoming elex after poor showings; served as SYRIZA coalition partner

The small right-wing Independent Greeks (AN.EL) party, which propped up the Tsipras government as the junior coalition partner up until early 2019, appears headed for a dissolution, as its central…

Mitsotakis from Kastellorizo: Unity the shield for country’s security, defense

Main opposition New Democracy (ND) leader Kyriakos Mitsotakis travelled to the extreme southeastern Aegean island of Kastellorizo as part of his ongoing nationwide tour of the country ahead of the…

Latest appellate court ruling ends saga of massive tax evasion entailed in so-called ‘Lagarde’, ‘Borjans’ lists

By G. Palaitsakis [email protected] The once sensational proclamations and media headlines regarding massive tax evasion in Greece, as ostensibly illustrated by the so-called “Lagarde” and “Borjans” lists of Greek citizens…

Saturday, 08 June 2019

Almost 40% of expected tax returns in Greece already electronically filed

More than 2.44 million income tax returns have been filed and processed by the Greek tax bureau so far for the 2018 fiscal year, corresponding to 39 percent of the…

Friday, 07 June 2019

Latest opinion poll gives ND up to 10.2%-point lead; six parties expected in new Parliament

The latest opinion, coming days after the second round defeat of ruling SYRIZA party in local government run-off elections assessed main opposition New Democracy (ND) party’s lead over the former…