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Tuesday, 12 June 2018

Moscovici: Greece needs front-loaded debt relief measures, not precautionary credit line

EU Commission Pierre Moscovici again expressed his confidence that all post-memorandum issues affecting the Greek program will be decided at a June 21 Eurogroup, adding that what Greece needs now…

Greek labor costs up by 4.9% in Q1 2018

Labor costs in Greece increased by 4.9 percent in the first quarter of 2018, comparied to the same period of 2017, according to the statistics authority, EL.STAT. The figure is…

DM, junior coalition partner: No to fYRoM ‘name issue’ deal; support for govt solid nonetheless

The head of the small right-wing party propping up the current mostly leftist Tsipras government on Tuesday repeated that his party’s MPs will not vote for any agreement to resolve…

Dep. Minister: Pending pension cuts to mostly affect beneficiaries of early retirement plans

The relevant deputy social insurance minister on Monday referred to the political “hot potato”, as far as the leftist-rightist government is concerned, of pending pension cuts as of Jan. 1,…

Tourism, F&B sectors boost new hirings in May

Businesses in Greece’s tourism and food & beverage sector led hirings for a third straight month in May 2018, adding to their payroll for the summer season. According to an…

Lagarde: IMF will remain engaged in Greece ‘in some form’

IMF Managing Director Christine Lagarde said the Fund will remain engaged in Greece in “some form”, with the framework to be decided after a closely watched June 21 Eurogroup meeting,…

Monday, 11 June 2018

Mini hotel ‘boon’ in Greece continues with upscale additions; Grand Hyatt opens in Athens next month

By V. Vegiri & L. Karageorgos A mini boon in hotel-related investments in Greece continues around the country, with a bevy of upscale units ready to open their doors in…

Greek FM: Skopje govt has voiced preference for ‘name issue’ solution; in Athens’ best interests

Greek Foreign Minister Nikos Kotzias on Monday afternoon, hours after a telephone conversation between Alexis Tsipras and Zoran Zaev, said the looming prospect of a solution to the “name issue”…

Bevy of deals announced during Posidonia 2018

Several noteworthy deals were reported on the sidelines of last week’s Posidonia maritime exhibition in Athens, including the order of another LNG tanker by the Angelicoussis group’s Maran Gas Maritime…

Netanyahu receives Mitsotakis in Israel

Israeli Prime Minister Benjamin Netanyahu on Monday received Greece’s main opposition leader, Kyriakos Mitsotakis, who is paying a visit to Israel this week, with talks focusing directly on further boosting…

Tsipras-Zaev phone contact on Mon. afternoon; another call pending

A long-awaited and oft-cited telephone discussion between the prime ministers of Greece and the former Yugoslav Republic of Macedonia (fYRoM) finally took place on Monday afternoon, given that the two…

Centeno: Greece now a different country after reforms; major decisions pending at Eurogroup

Eurogroup president Mario Centeno on Monday again referred to progress made in the Greek program, as a crucial June 21 Eurogroup is set to convene with the issue of Greek…

Sources: Developments over fYRoM ‘name issue’ possibly on Mon.

Developments regarding ongoing negotiations to resolve the long-standing fYRoM “name issue” are expected on Monday, according to reports, with Greek Prime Minister Alexis Tsipras meeting earlier in the morning with…

Latest round of pension cuts in Greece next year worth 389 mln€

By T. Tsiros [email protected] A pending round of social security cuts – set for Jan. 1, 2019 – will almost exclusively account for 389 million euros in reduced state spending,…

Anarchist group blocked from entering public order ministry; 20 people reportedly detained

Twenty people, identified with a self-styled anarchist group that’s achieved notoriety by barging into ministries and diplomatic missions, usually to throw paint and toss pamphlets, were apprehended on Monday after…

Sunday, 10 June 2018

Memorial event held for 1944 Distomo massacre by Nazi troops

An event commemorating the 74th anniversary of the Distomo village massacre was held over the weekend in the south-central Greek mainland town of the same name, where Nazi occupation troops…

AirHelp rates Athens Int’l Airport (AIA) second after Doha in relevant high-quality list

AirHelp rates Athens’ Eleftherios Venizelos International Airport as second best on a relevant list, out of 144 airports worldwide.  The multinational company, a hi-tech provider of legal services to airline…

Air Force One refuels on Crete while on way to Singapore

Air Force One, with US President Donald Trump aboard, made a brief stopover early Sunday morning at a military runway at the Souda base on the large island of Crete…

Supreme court rejects motion to quash conviction of former stats authority chief

A lengthy legal saga for the former head of Greece’s statistics authority, Andreas Georgiou, continued unabated over the weekend, as the criminal division of the country’s supreme court rejected a…

Greek pharmaceutical pioneer Pavlos Giannakopoulos passes away

Greek pharmaceutical tycoon and industry pioneer Pavlos Giannakopoulos, one of the co-founders of the Vianex group, passed away on Sunday at the age of 88. Giannakopoulos, whose professional life began…

French FinMin Le Maire with an ‘eye’ towards Greece: Budget surpluses not enough to overcome a country’s econ crisis

French Finance Minister Bruno Le Maire emphasized over the weekend, in a direct reference to crisis-bedeviled Greece, that obligatory budget surpluses are not enough to overcome a country’s economic crisis.…

Friday, 08 June 2018

45.9 bln euros disbursed to Greece so far by third bailout

Greece has so far received 45.9 billion euros, out of an approved credit line of 86 billion euros, part of the third bailout agreed to in August 2015 with the…

Light quake off Kythira

A light earthquake measuring 3.6 on the Richter scale was recorded at 10.27 p.m. (20.27 GMT) near the southwest Aegean island of Kythira, according to the Athens geodynamic institute. The…

Embattled Folli-Follie group finalizes contract with EY for audit of its financial results

Greece-based jewelry and accessory producer and retailer Folli-Follie on Friday announced that it has finally signed a contract with Ernst & Young (EY) to conduct a thorough audit of the…

Latest draft legislation to meet creditors’ requirements for bailout’s 4th review tabled

A draft omnibus bill that includes all of the “prior actions” and reforms demanded by creditors to conclude the fourth and last review of the current memorandum – itself the…

Greece’s main opposition leader; Titan cement group CEO to attend Bilderberg gathering

The 66th Bilderberg Club meeting being held, as of Thursday, in Turin includes two Greeks among the 131 personalities on the invitation-only gathering, namely, center-right New Democracy (ND) party leader…

Arrears owed to state jump by 542 mln€ in April 2018 alone

Taxpayers’ arrears to the Greek state – mostly income and corporate taxes – increased by 542 million euros over a period of just one month, according to data supplied by…

Govt still confident subtranche will be disbursed on June 15

Greek Finance Minister Euclid Tsakalotos on Friday said the postponement of a one-billion-euro sub-tranche to be disbursed by the ESM to the country was a “standard abeyance”, while expressing confidence…

ESM postpones 1-bln-euro disbursement to Athens; lack of data showing reduced state arrears cited

A pending sub-tranche of one billion euros, scheduled to be disbursed to Greece by the ESM, has been postponed, as the leftist-rightist coalition government failed to supply creditors with data…

Possible stopover of Air Force One on Crete – Plane carrying Trump to Singapore

Air Force One, carrying US President Donald Trump, may land at the Souda Bay base on the island of Crete, as the official presidential aircraft will be transporting the latter…