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Wednesday, 06 September 2017

Trade group study: 4 out of 10 small-to-micro enterprises in Greece to turn to ‘grey economy’

Four out of 10 small-to-micro businesses in Greece are expected to transfer their commercial activities to the so-called “grey” or “underground economy” over the coming period due to a consolidation…

Greek sources: EU creditors miffed by continuing prosecution of ex-chief of Greek statistics authority

The soon-to-begin process to conclude the third review of the ongoing Greek bailout program dominated talks in Brussels on Tuesday between EU Commissioner Pierre Moscovici and Greek Finance Minister Euclid…

Finance ministry denies report claiming EWG block disbursement of 800mln€ sub-tranche of bailout money

Greece’s finance ministry on Tuesday evening dismissed a same-day press report claiming that representatives at the previous day’s Euro Working Group blocked the disbursement of an 800-million-euro sub-tranche of ESM…

Tuesday, 05 September 2017

Commission spox: Greek banks well-capitalized

An EU Commission spokeswoman on Tuesday reiterated that “Greek banks are well-capitalized and the priority is to address the issue of non-performing loans” in the country, in reply to a…

Moscovici reiterates ‘major’ democratic deficit in Euro zone decision-making

EU Commissioner Pierre Moscovici on Tuesday reiterated his criticism of a “democratic deficit” in the Euro zone, warning that the common currency area must reform itself on the basis of…

Greek state’s arrears to private sector jump in July; reach total of 5.435 bln€

The Greek state’s arrears to the private sector reached 5.435 billion euros by the end of July, an increase of 342 million euros from the total at the end of…

EWG reps on Monday grill Greek side over reforms, revisions, actions necessary to conclude third review

The Greek government reportedly got a “first taste” of Euro zone partners’ mood heading into negotiations for the third review of the ongoing Greek bailout program, during Monday’s Euro Working…

Macron visit to Greece this week the third by a French president during crisis years

By F. Zois and S. Zisimos The third official visit to Athens by a different French president over the crisis years in Greece – set for Thursday – is viewed…

Monday, 04 September 2017

Line Group MoC with Greek-Chinese chamber of commerce for Alibaba platform

The Line Group last week signed a MoC with the Greek-Chinese chamber of commerce, following the former’s agreement with Internet sales giant Alibaba to participate in its Global Service Partnership.…

Mitsotakis: Tsipras govt deliberately delaying licensing for Skouries gold mine complex

Main opposition leader Kyriakos Mitsotakis on Monday met with Hellas Gold workers in northern Greece, warning that the company’s mining operation at the Skouries site is threatened due to the…

Commission spox dismisses Moscovici statement over ‘scandal in democratic procedures’ regarding Greek bailout

A European Commission spokesman on Monday downplayed a very high-profile quip over the weekend by EU Commissioner Pierre Moscovici regarding a “scandal of democratic procedures” involving the Greek bailout program.…

American Statistical Association letter to Greek PM over continuing prosecution of Greece’s one-time EL.STAT chief

The American Statistical Association (ASA) is the latest well-known institution to come to the defense of the former head of Greece’s Hellenic Statistical Authority (EL.STAT), Andreas Georgiou, reminding Prime Minister…

EY study shows rising optimism by businesses in Greece over possible mergers, buy-outs

A most recent EY study shows a rising optimism and disposition by companies in Greece to proceed with mergers and buy-outs. The result was included in the 16th edition of…

Athens’ task at hand: Implementation of 95 memorandum ‘prior actions’ by end of December

By G. Palaitsakis [email protected] No less than 95 out of 113 “prior actions” listed in the ongoing third bailout memorandum must be fulfilled by the current leftist-rightist Greek government by…

Cruise ship arrivals to Greece down in 2017, sector group says

By A. Tsimplakis [email protected] Greece is enjoying what’s being billed as the best tourism season ever, nevertheless the cruise ship sector is apparently not keeping up and, in fact, is…

Sunday, 03 September 2017

Piraeus Bank sells-off Avis, Payless franchises for Greece

A consortium comprised of Olympia Group SA and Virtus International Partners LP has purchased the Avis Rent-a-Car’s master franchise for Greece and the Payless franchise for the country, following the…

Municipality of Piraeus joins land registry

The snail-like process to finally establish a functional and unified land registry (cadastre) throughout Greece posted a rare success this week, with the municipality of Piraeus, the third largest in…

Labor market liberalization in Greece again to come under scrutiny by creditors

By S. Papapetros [email protected] A closely watched agenda of issues in upcoming negotiations to conclude the third review of the Greek bailout program will be labor market reforms, given the…

Tsipras pens ‘Was Andreas (Papandreou) a liar?, sparks shrill political reactions

Leftist Greek Prime Minister Alexis Tsipras picked the Sunday anniversary of the establishment of one of his political adversaries to shake up the usually languid end-of-summer political landscape in the…

BoG Gov Stournaras: IMF should leave Greek bailout program if it wants

Greece’s influential central banker was quoted on Sunday as saying that the IMF should not be persuaded otherwise if it wants to exit the Greek program, fueling speculation ahead of…

Friday, 01 September 2017

Cosco unveils express cargo shipping to Europe via port of Piraeus

By L. Karageorgos [email protected] A new service called “China-Europe Sea-Land Express Cargo” is billed by  Cosco Shipping Lines as cutting transport time for cargo carried by its container ships to…

Moderate quake shakes Rhodes on Fri. afternoon

A 5.2 on the Richter scale earthquake was recorded at 19.48 (17.48 GMT) on Friday afternoon south of the well-known island of Rhodes. The quake’s epicenter was pinpointed at 62…

9-year high in manufacturing growth index in Aug.

Growth in the Greece’s recession-battered manufacturing sector posted a nine-year high in August 2017, buoyed by higher demand and greater purchasing activity by consumers. The relevant index reached 52.2 in…

Greek GDP growth at 0.8% in Q2 2017

Greece’s independent statistics bureau on Friday announced that provisional data showed the country’s GDP up by 0.8 percent (on an annual basis) in the second quarter of 2017. The figure…

Privatization fund: 447.7 mln€ from sell-offs in 2016, six billion the goal until Aug. 2018

By S. Zisimos [email protected] With negotiations ready to begin this month over the all-important third review of the Greek program, the country’s memorandum-mandated privatization fund (HRADF) must accelerate efforts to…

Mixed Q2 results for Greek four primary lenders

Greek lender National Bank (NBG) posted flat results for Q2 2017 this week, with trading losses failing to offset a reduction in bad debt provisions. The second largest Greek bank,…

Thursday, 31 Αυγούστου 2017

Onassis super yacht again sails in the Aegean

Aristotle Onassis’ legendary super yacht, the “Christina O”, is once again sailing the Aegean’s waters, as the 99-meter vessel was recently spotted off the Peloponnese harbour town of Nafplio, in…

Third review negotiations commence on Mon.; Athens’ fulfilment of bailout ‘prior actions’ under scrutiny

By T. Tsiros [email protected] Greece’s (third) memorandum obligations again come into the picture, beginning on Monday, with the Euro Working Group serving as the first venue where the country’s commitments…

Greek econ minister receives US ambassador

Greek Economy Minister Dimitri Papadimitriou on Thursday received US ambassador to Greece Geoffrey Pyatt, with talks reportedly focusing on US investors’ interest in Greece, according to a press release issued…

Energy exchange to debut in Greece in first half of 2018

A long-awaited energy exchange is expected to be established in Greece in the first half of 2018, with four separate markets eyed for trade in electricity, including “next-day” sales, spot…