English

Friday, 16 November 2018

Mitsotakis: Prespa accord a bad deal; excessive surpluses strangling Greek economy

Main opposition New Democracy (ND) leader Kyriakos Mitsotakis on Friday reiterated his position that the provisional “Prespa Agreement” is a negative development for the country, stressing from the northern city…

Immediate govt response to Holy Synod: Decision over clergy’s salaries lies with the state

The Tsipras government officially responded on Friday to an earlier decision taken by the powerful Orthodox Church of Greece’s Holy Synod to exclude the issue of public sector salaries for…

Significant increase in number of US citizens studying in Greece through educational exchange

The number of Greek citizens studying in the United States increased by 3.3 percent during the 2017/18 academic year, while the number of US students in Greece increased 21.1% during…

Tsipras says former French president Hollande a ‘true friend of Greece’

Greek Prime Minister Alexis Tsipras greeted former French president Francois Hollande to the Maximos Mansion government house on Friday with the adage “true friends are revealed in difficult times,” saying…

Church of Greece’s Holy Synod rejects proposed abolition of civil service payroll, status for clerics

The Autocephalous Orthodox Church of Greece’s Holy Synod, its top ecclesiastical body, on Friday voted to exclude the issue of clergymen’s payroll from church-state negotiations, a development viewed as a…

Energean: Targets for Israeli offshore deposits fixed

By K. Deligiannis [email protected] Energean’s exploration target in 2019 for its Israeli operations is 2.3 trillion cubic feet of natural gas, according to a trading and operational update unveiled on…

Top gov’t delegation prevented from laying wreath at Athens polytechnic

A group of top SYRIZA lawmakers – ministers, former ministers and MPs – was prevented from entering the Athens Polytechnic on Friday to lay a wreath, ahead of Saturday’s commemoration…

Hellenic Fiscal Council report cites ‘investment gap’ of 100 bln€ Greece will have to cover

The latest report by the Hellenic Fiscal Council points to a “investment gap” of 100 billion euros over the next few years that Greece must cover in order to re-approach…

Danaos Corp. restructures maturing loan obligations worth 2.2 bln USD; profits up in Q3 2018

By L. Karageorgos [email protected] Danaos Corp. presented improved Q3 2018 results on Thursday, amid a still “soft” container shipping market. Moreover, a recent restructuring of its loan portfolio also brightened…

112 approved investment plans for Greek aquaculture, fisheries sector total 93.1 mln€

By D. Alexaki [email protected] Greece’s relevant agriculture ministry has approved of 112 investment plans for aquaculture units around the country, with 60 different companies included, of which the “lion’s share”…

BoG plan for SPV to offload portion of Greek banks’ NPLs requires 6 months; approval by SSM, DG Comp, ECB

Βy E. Sakellari A plan by the Bank of Greece (BoG) to deal with tens of billions of euros worth of “bad loans” burdening Greek banks’ balance sheets, by creating…

Thursday, 15 November 2018

US ambassador: Cyprus has the right to exploit its EEZ resources

US Ambassador to Greece Geoffrey Pyatt on Thursday echoed recent statements out of Washington, namely, that the Republic of Cyprus has the right to exploit the resources found in its…

Top int’l distinction for video promoting tourism, entitled ‘Greece – A 365-day Destination’

A promotion video for the Greek National Tourism Organization, entitled “Greece – A 365-day Destination”, picked up the “People´s Choice Award” for the best tourism film 2018. The award is…

IMF: Suspension of pension cuts measure an issue between Athens, Europeans

An International Monetary Fund (IMF) spokesman on Thursday again reiterated that the Fund is now restricted to an advisory role in the post-bailout Greek program, while it is not in…

EWG reportedly approves Athens’ request to shelve upcoming pension cuts

By N. Bellos [email protected] Eurozone members’ representatives at Thursday’s Euro Working Group (ΕWG) provided a tentative approval to the Tsipras government’s request to suspend pre-legislated social security cuts, which are…

Court of Audit reportedly OK’s contract to extend Athens Int’l Airport concession by 20 years

Greece’s Court of Audit has reportedly approved of a contract to extend the concession for the Athens International Airport by 20 years. The concession extension, submitted to the country’s privatization…

Rulings in FF bankruptcy protection expected on Mon.

Motions by Folli Follie Group (FFG) for continued protection from creditors, on the one hand, and a group of investors holding shares or bonds issued by the beleaguered company, on…

MIG negotiations with Fortress equity fund over sale of Attica Group conclude without deal

By L. Karageorgos [email protected] Negotiations over the past year between the MIG investment fund and Fortress over the sale of a controlling stake in Attica Group, a major coastal shipping…

PPC CEO hints at poor Q3 results, during Parliament briefing

By M. Hatzikonstantinou & K. Deligiannis The president and CEO of Public Power Corp. (PPC), Greece’s dominant power utility, on Wednesday more-or-less revealed lackluster results for Q3 2018, pointing to…

Wednesday, 14 November 2018

Fierce debate over constitutional revision; Mitsotakis reiterates pledge to allow non-state universities in Greece

Parliament debate on constitutional revision officially began on Wednesday, less than a year before general elections must be held in Greece, and with main opposition leader Kyriakos Mitsotakis reiterating a…

Greek budget: Revenues in Oct. 18 exceed target by 576 mln€

The monthly target for collecting state revenues was easily surpassed last month, October 2018, according to figures released on Wednesday by the finance ministry. Specifically, revenues reached 5.1 billion euros…

MP, ex-minister Georgiadis sues Novartis; claims silence in face of allegations against him

Former minister and high-profile New Democracy (ND) party deputy Adonis Georgiadis on Wednesday said he has formally filed a lawsuit against Swiss pharmaceutical multinational Novartis, charging that the company “remains…

MSCI decision to downgrade shares of 3 Greek systemic banks drags down ATHEX banking index

MSCI’s decision, on Tuesday, to shift (as of Nov. 30, 2018) the shares of three Greek systemic banks – Piraeus, National and Eurobank – from its MSCI Standard Greece index…

Long-term lease of four Poseidon Containers vessels to CMA CGM

Poseidon Containers this week announced that it will lease, on a long-term basis, four of its vessels to CMA CGM, and specifically the ships “Mary”, “Kristina”, ‘Katherine” and “Alexandra”. The…

Ex-PM Simitis: ‘I’ll respond to this slander after I ascertain who is behind it’

Former Greek prime minister Costas Simitis on Wednesday said he’ll respond to what he charged is slander against him after he ascertains who is behind it, hours after an Athens…

Unified social security fund (EFKA) posts 866 mln€ budget surplus over Jan-Sep 2018 period

By S. Papapetros [email protected] Revenues collected by the unified social security fund (EFKA) in Greece over the first nine months of 2018 exceeded 28.18 billion euros, with the cash basis…

Draft bill foresees 5-25% on arrears owed by state to health care sector

A draft bill tabled in Greece’s Parliament this week by the labor and social insurances ministry foresees “haircuts” of between 5 to 25 percent on arrears owed by the state…

Press report: Anti-money laundering watchdog requests opening of bank accounts for ex-PM Simitis, 2 ministers

Anti-corruption prosecutors have reportedly set in motion the process to open bank accounts held by former Greek prime minister, his wife, brother, as well as two former PASOK party ministers,…

Tuesday, 13 November 2018

Dep. chief of Greek army general staff in Washington last week

Greek army general staff deputy chief Lt. Gen. Nikolaos Manouris visited the Hellenic House in Washington D.C. last week, where he met with American Hellenic Institute (AHI) President Nick Larigakis…

Parliament Budget Office refers to prospect of 4.5% primary budget surplus for 2018; warning over pension cut returns

The head of the Greek Parliament’s Budget Office on Tuesday appeared optimistic over the prospects of the primary budget surplus for 2018 reaching 4.5 percent of GDP, a figure that…