English

Friday, 17 November 2017

Report by EU’s Court of Auditors criticises effectiveness of Greek bailout memorandums

By N. Bellos  A report by the EU’s Court of Auditors (ECA) this week noted that the bailout memorandums in Greece led to a significant improvement in the country’s fiscal…

Privatization fund announces tender procedure for concession of Egnatia tollway

Greece’s privatization fund, the Hellenic Republic Asset Development Fund S.A. (HRADF), on Friday issued an invitation to interested parties to submit expression of interest in an international tender for a…

Thursday, 16 November 2017

Greek exports, imports up over first 9-months of 2017; trade deficit at 16.2 bln€

Greece’s balance of trade deficit reached 16.2 billion euros in the first nine months of 2017, an increase of 2.6 billion euros in relation to the same period of 2016.…

High court prosecutor orders probe into controversial defense deal with Saudi Arabia

A relevant prosecutor’s office tasked with fighting corruption in the public sector on Thursday announced a preliminary investigation into an arms deal with Saudi Arabia. An order for the preliminary…

High court prosecutor orders probe into controversial defense deal with Saudi Arabia

A relevant prosecutor’s office tasked with fighting corruption in the public sector on Thursday announced a preliminary investigation into an arms deal with Saudi Arabia. An order for the preliminary…

Five people still missing in flood-ravaged west Attica prefecture

One man reported as missing in Wednesday’s devastating flooding in western Attica prefecture (west of Athens proper) has turned up alive, while authorities are searching for another five people still…

Greek high court ruling limits scope of tax authorities’ probes into past undeclared income

By G. Palaitsakis [email protected] Data on taxpayers’ deposits in Greek banks cannot be designated as “supplementary information” in efforts, by authorities, to prove the existence of undisclosed income if five…

Creditors demand energy sector liberalization, e-auctions to begin as part of 3rd review of bailout

Creditors’ top auditors are set to return to Athens next week in order to resume negotiations with the Greek government on concluding the third review of the ongoing bailout, with…

Wednesday, 15 November 2017

Geology prof.: haphazard construction caused deadly flooding west of Athens

A veteran geology professor blamed Wednesday’s deadly flooding in an industrial district west of Athens, north of the Gulf of Elefsina, directly on ill-advised man-made interventions, stressing that “nature had…

Greek weather service chief: Recent deadly storms in Greece may be linked to climate change

The head of Greece’s weather service on Wednesday expressed a view that a spate of separate but devastating rainstorms in the country over recent days may be due to global…

Higher provisions by Greek banks expected due to IFRS 9 application

By N. Malliara [email protected] Application of the new International Financial Reporting Standards 9 (IFRS) is expected to affect the investors’ assessment of Greek banking shares, whereas lenders must also factor…

Higher provisions by Greek banks expected due to IFRS 9 application

By N. Malliara [email protected] Application of the new International Financial Reporting Standards 9 (IFRS) is expected to affect the investors’ assessment of Greek banking shares, whereas lenders must also factor…

15 dead from flooding west of Athens

The death toll from Wednesday’s catastrophic flooding west of Athens in the industrial Mandra district has reached 15, while several people are missing.…

Minister: Govt won’t sell-off power utility’s lignite-fired units

The relevant energy and environment minister on Wednesday promised unionists from the state-run power company that the leftist-rightist coalition government will not sell-off hydro-electric plants or client “blocs” to independent…

Five flood-related deaths reported on Wed.

Torrential rainfall overnight and in the early morning hours on Wednesday caused severe flooding west of Athens proper, cutting off the old Athens-Corinth highway and causing widespread property damage at…

Deadline for voluntary disclosure of incomes extended; govt says 5 bln€ disclosed so far

A deadline for the voluntary disclosure of undeclared income will again be bumped back, with the latest cut-off date announced by the Greek finance ministry expected to be Nov. 25.…

TUI Austria: Greece topped reservations list for 2017

TUI Austria this week announced that Greece topped its reservations list for the recently ended summer season, as well as for 2016, with turnover related to Greece increased by 25…

Finance ministry officially proceeds with further loosening of capital controls

The finance ministry proceeded with a further loosening of capital controls in the country, with a relevant decision published on Tuesday in the government gazette, confirming an earlier report by…

Reports: Two fatalities, major damages in widespread flooding west of Athens

Torrential rainfall overnight and in the early morning hours on Wednesday caused severe flooding west of Athens proper, cutting off the old Athens-Corinth highway and causing widespread property damage at…

Tuesday, 14 November 2017

FAZ: Thousands of irregular migrants now choosing to voluntarily leave Greece for their homelands

German mass daily Frankfurter Allgemeine Zeitung this week referred to a growing trend of voluntary repatriations of third country migrants stranded in Greece, in an article filed from Athens. “At…

Greek shipping interests among global leaders in new ship orders

By A. Tsimplakis [email protected] Greek shipowners are apparently again reverting to new shipbuilding, according to figures included in the annual study by Naftiliakis, with orders for 238 vessels (23.9 million…

Greek finance ministry source: bond swap pending

An unnamed finance ministry source in Athens on Tuesday was quoted as referring to a pending swap of 30 billion euros worth of bonds dating to the PSI, and with…

European sources: Bailout delays in 2015 due to Tsipras govt inexperience, disputes with IMF

In the wake of a European Commission report, released on Monday, regarding Greece’s implementation of the European Stability Mechanism (ESM) program, sources in Brussels noted that it was the Tsipras…

Creditors in deliberations with Greek side over distribution of ‘social dividend’

By V. Kostoulas [email protected] Institutional creditors are in talks with Greek authorities over distribution of a “social dividend” announced on Monday evening, although deliberations “appear aligned” but are not yet…

ND criticises, but will vote in favor of 1.4 bln€ ‘social dividend’ after all

Main opposition New Democracy (ND) party on Tuesday continued its scathing attack against an announcement by Greek Prime Minister Alexis Tsipras, a day earlier, to dole out some 1.4 billion…

Greek-controlled shipping firms loom large in purchases of auctioned off vessels in 2017

By L. Karageorgos [email protected] Navios Maritime Partners and Capital Maritime & Trading are among the Greek-owned shipping companies that have recently allocated tens of millions of dollars for the purchase…

Govt ready to table law protecting legal personnel participating in property auctions

The justice ministry is reportedly ready to table an amendment foreseeing the automatic prosecution of anyone blocking or attempting to block auctions of foreclosed property in the country, in the…

Monday, 13 November 2017

13 new routes at Thessaloniki’s Macedonia Airport next summer

Thirteen new routes to and from Thessaloniki’s Macedonia Airport will be inaugurated by five carriers for the summer of 2018, according to Fraport Greece executive Giorgos Vilos. According to the…

Harsh opposition reaction to Tsipras’ announcement of ‘social dividend

Reaction to Greek Prime Minister Alexis Tsipras’ surprise televised announcement of a 1.4 –billion-euro “social dividend” doled out to roughly 3.4 million beneficiaries was immediate and scathing on Monday evening.…

Greek PM says govt will dole out 1.4 bln€ from budget surplus cash to 3.4 mln people

Greek Prime Minister Alexis Tsipras took to the airwaves on Monday evening in an unscheduled television appearance in order to announce a “social dividend” of 1.4 billion euros, saying 720…