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Monday, 05 March 2018

Greek govt ‘on edge’ over coming economic developments

By G. Kampourakis [email protected]   The Greek government is awaiting a decision on Monday by a provincial first instance Turkish court, in Edirne, over the fate of two Greek army…

Sunday, 04 March 2018

Wieser stands by 200bln€ damages estimate from Greece’s 2015 negotiations; Varoufakis, govt reactions

Former Euro Working Group (EWG) president Thomas Wieser over the weekend continued to insist on his 200-billion-euro estimate of damages incurred by Greece from the shambolic first-half negotiations in 2015…

Exhibition of artifacts found during Thessaloniki metro construction in April

The numerous finds and artifacts that were discovered in works for the construction of a long-overdue metro line in the northern city of Thessaloniki were recently detailed at a one-day…

Regling: Greece must continue implementing conditions, reforms after bailout ends in Aug.

Greece must continue to implement the terms that it has previously agreed to, along with reforms, even after the third bailout ends in August 2018, European Stability Mechanism (ESM) Managing…

Friday, 02 March 2018

Bloomberg: Path cleared for disbursement of 5.7-bln-euro tranche to Greece

The last remaining obstacles in the disbursement of a 5.7-billion-euro loan tranche by European creditors to Greece have reportedly been cleared, with Bloomberg on Friday reporting that a compliance report…

Reports: 2 Greek servicemen who strayed into Turkey facing single charge of illegal entry

Turkish media on Friday afternoon were reporting that two Greek servicemen – an army officer and NCO – who strayed into Turkish territory overnight and were detained will be tried…

Ex-EWG chief Wieser: Greece would benefit from precautionary credit line after bailout’s end

Former Euro Working Group (EWG) president Thomas Wieser on Friday said Greece’s immediate future would be easier with a “safety net” in place, a direct reference to a precautionary credit…

Media reports: Greek officer, NCO stray into Turkish territory in Evros prefecture

Local media in Athens on Friday morning reported that one Greek army officer and a NCO were detained in Turkish territory, just east of the land border in the northeast…

Nouy: Dealing with NPLs in Greece imperative for banking sector’s recovery

The head of the European Central Bank’s (ECB) supervisory board SSM chief Danièle Nouy on Thursday “stayed on message” in reiterating that Greece’s four systemic banks remain “somewhat weak”, with…

PMI in Greece posts fastest rise in output since Nov. 2007

Momentum continued to build in the Greek manufacturing sector mid-way through the first quarter 2018, with rates of expansion in total new orders, output and purchasing activity reaching post-global financial…

Thursday, 01 March 2018

Piraeus Bank CEO: Interest by foreign investors in sale of NPL portfolios

Piraeus Bank group CEO Christos Megalou on Thursday expressed satisfaction with the recent commencement of electronic-only auctions of real estate in the country, as the domestic banking sector continues to…

Violence by self-styled anarchists continues in greater Athens area

Several violent incidents were again recorded overnight in the greater Athens area and even in a provincial city, all linked activity by self-styled anarchist and anti-state gangs in the country,…

261 e-auctions held on first day of universal implementation; 135 fail to attract bid

Most of the electronic auctions held on Wednesday, the first day of an obligatory of all such auctions via an online format, failed to record a successful transaction, according to…

Greek Alt FinMin heads to EWG meeting with figures showing expanded e-auctions

Alternate Finance Minister Giorgos Chouliarakis will represent Greece at Thursday’s Euro Working Group in Brussels, armed with figures reportedly showing an expansion of electronic auctions around the country, in a…

Moody’s to ‘N’: Precautionary credit line for Greece doesn’t mean an unsuccessful exit from bailout

By Vassilis Kostoulas [email protected] The chief credit officer of EMEA at Moody’s Corporation, Cοlin Ellis, told “N” this week that a precautionary credit line for Greece after the end of…

Wednesday, 28 February 2018

E-auction-only process debuts in Greece

More than 250 electronic auctions of foreclosed real estate – mostly by lien-holding banks – were scheduled for Wednesday, with 262 properties up for sale. All total, 2,018 auctions were…

Regling: Greece will successfully exit bailout, ‘if it continues reforms’

ESM Managing Director Klaus Regling again appeared confident that Greece will successfully exit the current – and presumably last – bailout in August 2018, while nevertheless repeating European creditors’ caveat…

BoG Gov, ECB’s Nouy discuss NPLs afflicting Greek banking system

Bank of Greece (BoG) Gov. Yannis Stournaras on Wednesday received the chairwoman of the supervisory board at the European Central Bank (ECB) and SSM chief Danièle Nouy, with the volatile…

Stepped up audits, checks lead to whopping hike in verified tax evasion in Greece in 2017

Detected instances of tax evasion increased by a whopping 174.4 percent in 2017, compared to the previous year, mostly due to stepped up checks, inspections and audits by the Independent…

Mini govt reshuffle; Dragasakis shifted to economy and development ministry

Greek Prime Minister Alexis Tsipras proceeded with a widely expected government reshuffle on Wednesday evening, a day after two ministers, Dimitris Papadimitriou and his wife, Rania Antonopoulou, resigned in the…

Capital controls further loosened by govt

The Greek government on Wednesday further loosened capital controls, allowing, for instance, the opening of a new bank account in one of the country’s banks without a previous customer ID.…

Coastal shipowner holds hunger strike in minister’s office to press for route approval

By L. Karageorgos [email protected] One ferry boat company owner on Wednesday picked a high-profile manner in which to demand the last signature remaining – in this case by the relevant…

‘N’ focus: Greek businesses still seeking shelter abroad in order to survive

By S. Emmanuil [email protected] Although the rate of new business entities, controlled by Greek interests, being opened in neighboring countries with low tax rates is slowing, this trend almost exclusively…

Hooded gang again busts up central Athens store fronts; party newspaper occupied

Unknown assailants vandalized roughly 10 store fronts along the Ermou pedestrian way, the Greek capital’s “high street”, in the early morning hours of Wednesday. According to initial reports, the incident…

Tuesday, 27 February 2018

Reuters: Zaev reveals four solutions for ‘name issue’

Reuters on Tuesday quoted the prime minister of the former Yugoslav Republic of Macedonia (fYRoM) as saying his government has forwarded four proposals to finally solve the fYRoM “name issue”…

ND insists US envoy told Mitsotakis that no Greek pols listed in FBI’s Novartis probe

Main opposition New Democracy (ND) on Tuesday continued to insist that the US ambassador to Athens told the party’s president, a day earlier, that the FBI is not investigating any…

BoG says proposed Greek ‘bad bank’ would cost five billion euros

Prospects for creating a “Bad Bank” in Greece as part of efforts to tackle nearly 100 billion euros in non-performing loans (NPLs), as well as the cost for such an…

Econ Minister Papadimitriou resigns over housing stipend furor

By G. Kampourakis [email protected] Speculation over a looming Cabinet reshuffle in Athens went into overdrive on Tuesday morning, following the late-night resignation of Economy Minister Dimitri Papadimitriou. The latter resigned…

Monday, 26 February 2018

Draghi denies Eurogroup ‘row’ with Greek FinMin

European Central Bank (ECB) President Mario Draghi on Monday denied reports that he “exchanged words” with Greek Finance Minister Euclid Tsakalotos last week during a Eurogroup meeting in Brussels, while…

ND sources: US envoy said no Greek politicians involved in FBI’s Novartis probe; govt reax

US ambassador to Greece Geoffrey Pyatt reportedly told main opposition New Democracy (ND) leader Kyriakos Mitsotakis that “there is no FBI investigation” involving Greek politicians, ND sources said after a…