English

Monday, 22 May 2017

Tsipras, Macron speak on Monday ahead of Eurogroup, debt issue discussed

Greek Prime Minister Alexis Tsipras on Monday spoke by phone with new French President Emmanuel Macron, hours before a closely watched Eurogroup meeting is set to convene in Brussels, with…

Latest govt figures: Monthly pensions in Greece average 772€; 4.55 mln beneficiaries in country of 11 mln

By S. Papapetros [email protected] The average gross monthly pension payment in Greece is 772.03 euros, with the average supplementary monthly stipend – for beneficiaries that receive such a benefit –…

Greek president: Halki seminary should be allowed to reopen

Greece’s head of state on Monday reiterated Athens’ standing appeal towards the Turkish state that it lift legal obstacles preventing the re-opening of a seminal Orthodox Christian seminary in the…

Revenue authority eyes action plan to reduce massive amount of arrears to Greek state

G. Kouros [email protected] Greece’s newly created Independent Authority for Public Revenues, itself a memorandum-mandated provision, is reportedly preparing a new action plan to collect a chunk of the 95 billion…

First effort for comprehensive deal on Greek debt, fiscal targets today; Berlin to clarify stance

By N. Bellos [email protected] The EU Commission continued to step up its interventions in favor of a comprehensive agreement for Greece at today’s Eurogroup meeting in Brussels, as behind-the-scenes deliberations…

Sunday, 21 May 2017

Deal between Greek power company, China’s CMEC on hold after Commission objection

A high-profile agreement between state-run Public Power Corp. (PPC) and Chinese utility operator CMEC is on hold, according to Greek Deputy Economy Minister Stergios Pitsiorlas, who told reporters on Friday…

Dijsselbloem: Greek debt relief examined, if necessary, after program ends in 2018

Eurogroup chairman Jeroen Dijsselbloem, in statements to the Dutch Parliament last week, expressed a view that the ambitious 3.5-percent primary budget surplus that the Greek state must post – on…

ExxonMobil in talks with Hellenic Petroleum over exploration

ExxonMobil representatives arrived in Athens late last week to finalize cooperation with Hellenic Petroleum (HEL.PE) in the field of exploration and exploitation of fossil fuels in Greece’s wider region. The…

Moscovici says he’s confident of deal between Athens, creditors at Monday’s Eurogroup

European Commissioner Pierre Moscovici on Sunday again expressed his confidence over an agreement between bailout-dependent Greece and its institutional creditors, speaking a day before a closely watched Eurogroup meeting in…

Friday, 19 May 2017

Cosco-led port of Piraeus posts higher 2016 results; massive floating dock in the works

By A. Tsimplakis [email protected] The Cosco-managed Piraeus Port Authority (OLP) is ready to declare an international tender for an 80K-ton floating dock to dramatically boost its ship repair presence in…

FAZ: Tsipras’ biggest advantage is that he’s not facing opposition like the type he exercised

German mass media provided extensive coverage on Friday of the previous evening’s passing in Greek parliament of a latest round of austerity and reform measures, essentially the linchpin in unblocking…

Commission welcomes latest austerity-reform package passed by Greek govt

The European Commission on Friday welcomed the latest round of austerity and reforms passed by the Greek Parliament on Thursday evening to unblock the current (third) bailout. The spokeswoman for…

Varoufakis on 2015 referendum: Tsipras said he couldn’t tell people we’d already conceded to creditors’ terms

Flamboyant ex-finance minister Yanis Varoufakis on Friday continued his high-profile sniping against former comrades – especially Greek Prime Minister Alexis Tsipras – by revealing vivid background from the summer of…

CEPS director Gros to ‘N’: It’s not in Greece’s interest to quickly return to markets for borrowing

By Vassilis Kostoulas [email protected] Greece must absolutely avoid expensive borrowing from the markets for no less than 10 years, the director of the Brussels-based Centre for European Policy Studies (CEPS), Daniel…

Bloomberg: Latest austerity package will either win debt relief or crush economy and lead to another Greek bailout

Bloomberg paints a “make or break” dilemma for Greece’s leftist government in the wake of the latest ratification of an austerity and reform-laced package on Thursday evening. According to the…

Greek PM: We expect, deserve debt relief measures at Monday’s Eurogroup

Greek Prime Minister Alexis Tsipras said he expects debt relief measures for the bailout-dependent country in a matter of days, speaking moments after the vote tally was announced for an…

Latest austerity package passed by 153 MPs backing leftist-rightist Tsipras govt

An omnibus bill containing the latest round of austerity measures demanded by creditors, along with various bench-marked reforms, was passed by Parliament late Thursday evening with exactly the number of…

Thursday, 18 May 2017

Latest austerity package generates sharp debate in Greek parliament; opposition charges ‘IV memorandum’

The political “thermometer” turned red on Thursday evening in Greece’s Parliament as debate wound up over the most recent austerity and reform package submitted by the government to meet creditors’…

Violence outside Greek parliament as lawmakers debate latest austerity package

By M. Sinodinos Small-scale rioting was reported outside Greece’s Parliament in central Athens on Thursday afternoon, as lawmakers inside the building debated the latest batch of austerity measures demanded by…

Govt spox: Athens won’t implement austerity measures if debt relief not extended, IMF doesn’t rejoin bailout

The Greek government spokesman merely reiterated Athens’ optimism over “positive developments” regarding the country’s debt load, with all statements referring to Monday’s Eurogroup meeting.   Dimitris Tzanakopoulos again referred to…

ECB executive board member: Greece must clear more hurdles before bond-buyback possible

A top ECB executive board member was quoted by Reuters on Thursday as saying that bailout-dependent Greece “must clear several more hurdles” before the Eurozone’s central bank can include the…

Warm Welcome in Chios

By Geoffrey R. Pyatt United States Ambassador to the Hellenic Republic One of the strongest pillars of the bilateral relationship between our two great democracies is the people-to-people ties between…

Wednesday, 17 May 2017

Greek PM refers to optimistic scenario of debt relief, ‘investment tsunami’ and even tentative market return

By G. Kampourakis [email protected]  Greek Prime Minister Alexis Tsipras appeared optimistic on Wednesday over pending developments regarding debt relief measures for the bailout-dependent country, a prospect that his embattled coalition…

Berlin dampens Greek govt’s recent quip over an ‘agreement’ towards debt relief

The German chancellery on Wednesday declined to confirm a previous announcement by the Greek prime minister’s office referring to converging views between German Chancellor Angela Merkel and Alexis Tsipras over…

Bloomberg quotes EZ source: 50% chance of comprehensive solution for Greek program at Eurogroup meeting

Bloomberg quoted what it described as a high-ranking Eurozone official on Wednesday who forecast that the chances of achieving a comprehensive agreement over the Greek program at Monday’s Eurogroup meeting…

Third Emirates daily flight on Dubai-Brisbane route

Emirates on Wednesday announced that, as of Dec. 1, 2017, it will add another daily flight connecting Dubai with Brisbane, Australia. The new connection will bring the number of daily…

Moderate quake shakes Rhodes

A moderate earthquake measuring 5.1 on the Richter scale was recorded on Wednesday at 2:30 p.m. local time, centered off the Dodecanese island of Rhodes. No injuries or damages were reported. No injuries…

ND proposes 0.5% of 2016’s primary budget surplus to offset other taxes; fund pre-schools

Main opposition New Democracy (ND) party on Wednesday tabled an amendment in Parliament prescribing the immediate distribution of a portion of the primary budget surplus recorded in 2016, a day…

Masked rioters interrupt unions’ protests, rally marches in downtown Athens

Masked youths emerged amid organized protesters participating in union rallies and marches heading to Parliament, in central Athens, early Wednesday afternoon. Unions have called for day-long strikes in the public…

ND proposes 0.5% of 2016’s primary budget surplus to offset other taxes; fund pre-schools

 Main opposition New Democracy (ND) party on Wednesday tabled an amendment in Parliament prescribing the immediate distribution of a portion of the primary budget surplus recorded in 2016, a day…