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Wednesday, 22 Αυγούστου 2018

Sub-station malfunction responsible for power outages in greater Athens on Wed.

A malfunction at an extra-high voltage sub-station switcher east of Athens proper caused widespread power outages in the Greek capital on Wednesday, with the transmission grid operator promising that all affected…

Power out in several parts of greater Athens

Power outtages were reported in several parts of the greater Athens area early Wednesday afternoon, while line 2 of the Athens metro was also out of service. No official statements…

American Airlines to offer daily Chicago-Athens route over 2019 summer season

American Airlines (AA) this week announced an expansion to its European network for next summer with nine new routes, one of which will include a daily summer seasonal service connecting…

Turkish-flagged tourist cruiser sinks off Leipsoi isle

A Turkish-flagged cruiser sank on Tuesday afternoon off the small northern Docadense isle of Leipsoi, with all passengers aboard unharmed.  The vessel, identified as the “Sunflower”, was sailing south of…

Light quake in sea region NE of Patras

A light earthquake measureing 3.7 on the Richter scale was reported at 13.00 (11.00 GMT) just northeast of the western port city of Patras. The quake’s epicenter was in a…

Twitter hashtag generates latest gov’t irritation with media group Skai

A feud between the leftist-rightist coalition government and the Athens-based Skai broadcaster continued unabated this week, with the former issuing a new statement taking to task the media group, which…

Post-bailout reality for Greek govt now focuses on continued commitments to creditors, partners

By T. Tsiros  [email protected] Commitments undertaken by the Greek state, part of an agreement signed by the Tsipras government with creditors in the wake of the June 21 Eurogroup meeting,…

Bomb blast in Piraeus

A bomb planted in a bag exploded on Wednesday morning in the port city of Piraeus, in the greater Athens area, near a local court complex. Damages were reported to…

Tuesday, 21 Αυγούστου 2018

Greek current accounts deficit of €3.8 billion in H1 2018

The Bank of Greece this week released balance of payments figures for up until June 2018, which showed a signficant increase in the current account deficit for H1 2018, to…

30% hike in tax free shopping over Jan-Jul period despite slide in average daily travel spending

By S. Emmanuil [email protected] The tax free shopping sector in Greece – purchases linked with a return of VAT for consumers visiting from non-EU countries – continued to post an…

Another top minister leaves open prospect of avoiding upcoming pension cuts after all

One top Greek government minister on Tuesday expressed a view that scheduled social security cuts – set for Jan. 1, 2019 – may not be implemented after all, saying that…

Greek-owned tanker reported as missing off West Africa

A Greek-owned Panama-registered tanker has been reported as missing for a week now in a sea region off the west African state of Gabon, military sources in the region reported…

Political opposition ridicules PM Tsipras’ Ithaca address on end of bailout era

The Greek prime minister’s televised proclamation from the Ionian isle of Ithaca on Tuesday morning, to prominently herald the end of the third (and last) bailout for the country, drew…

First report on deadly July wildfire blames omissions, mistakes by relevant state authorities

One of the first preliminary reports on last month’s deadly wildfire in eastern coastal Attica prefecture, which submitted on Tuesday to the head of the Athens first instance prosecutor’s office,…

Morgan Stanley guardedly optimistic on post-bailout era for Greece

Morgan Stanley sees recent debt relief measures and an improving Greek economy as helping the country achieve a “clean exit” from the third and last bailout – which officially ended…

Athens Int’l Airport profits up in 2017 yoy; concession contract extension cited as reason for no dividend

Net profits for the Eleftherios Venizelos Athens International Airport (ΑΙΑ) reached 140.05 million euros in 2017, up from 132.4 million euros in 2016. Nevertheless, despite the increased profitability, the operators…

‘End of Odyssey’ allegory by Greek PM to mark end of bailouts greeted with lukewarm reax by investors

A nationally televised address by the Greek prime minister on Tuesday morning, from the iconic Ionian isle of Ithaca, to commemorate the end of the third (and last) memorandum bailout…

Greek PM uses ‘Odyssey’ allegory, Ithaca as the backdrop to mark end of bailouts

Greek Prime Minister Alexis Tsipras “waxed poetic” on Tuesday morning with the Iconic Ionian isle of Ithaca as a backdrop to announce the end of the memorandum era for the…

Folli Follie in negotiations with creditors to stave off actions by latter

By S. Emmanuil [email protected] Embattled accessory manufacturer and retail Folli Follie has commenced negotiations with creditors in order to stave off collection and legal actions by the latter, as the…

Monday, 20 Αυγούστου 2018

Merkel on official end of Greek bailout: A good example of European solidarity

Angela Merkel was among the last, but the most prominent, European leader on Monday to comment on Greece’s official exit from the third (and last) memorandum bailout, with the powerful…

‘Clawback’ health cost-control scheme returns 297.5 mln€ to state coffers in 2017

By G. Sakkas [email protected] The total “clawback” figure returned by private health care providers in Greece for 2017 reached 297.5 million euros, posting a distinct  reduction compared to previous years,…

New Chinese envoy set to tour Piraeus port; Cosco eyes appeal of regional authority’s rejection of shipbuilding license

The new ambassador of the People’s Republic of China to Greece, Zhang Qiyue, was due to visit the port of the Piraeus on Monday for talks with Chinese multinational Cosco’s…

Greek shipping interests again first in H1 2018 in terms of ship purchases, sales

By A. Tsimplakis [email protected] Greek ship-owning interests were again in first place in terms of buying and selling second-hand vessels over the first half of 2018, continuing a trend lasting…

Hotel federation president: Overnight stays in Greece for 2018 at 2017 levels

By V. Vegiri [email protected] The number of overnight stays in Greece throughout 2018 will reach 2017 levels, the president of the country’s hoteliers federation, Grigoris Tasios, estimated over the weekend.…

Varoufakis: Greek debt cannot be paid off; country should have been ‘ready for drachma’

Former Greek finance minister Yanis Varoufakis struck again on Monday by saying there’s absolutely “no chance for Greece’s public debt to ever be repaid”, speaking on the same day as…

Moscovici: First auditors’ mission to Greece in post-bailout period in Sept.

EU Commissioner Pierre Moscovici on Monday referred to the second week of September 2018 for the first post-bailout supervision mission by European creditors’ auditors to Greece, part of what Brussels…

45 arrests in week at Crete airports for attempts to fly out of Greece with forged travel docs

Forty-five non-EU foreign nationals were arrested at three commercial airports on Crete between the Aug. 13 to 19 period on charges of attempting to fly to west and central European…

Centeno, Regling issue video messages to mark ends of bailouts for Greece

Eurogroup President Mario Centeno addressed a special statement on Monday, via a relevant video message, no less, to mark the end of the bailout era in Greece. The message by…

Official end of 3rd bailout may be greeted with ‘Tsipras manifesto’, reshuffle; elections on the horizon

By G. Kampourakis [email protected]  Greek Prime Minister Alexis Tsipras this week is again expected make a nationwide address – via the state broadcaster – to commemorate the end of the…

Sunday, 19 Αυγούστου 2018

Regling insists: Misteps in 2015 by Tsipras govt cost Greece up to 200bln€; now on right course

European Stability Mechanism (ESM) Managing Director Klaus Regling over the weekend insisted that the Tsipras coalition government’s decisions and actions in the first half of 2015 cost Greece up to…