English

Friday, 05 May 2017

Berlin denies Handelsblatt report over looming package for Greek debt relief

Germany’s finance ministry on Friday curtly denied a previous day’s press report claiming that Greece’s institutional creditors are readying a debt relief package to the bailout-dependent country.   “No debt…

Dutch ambassador to Greece details next steps needed, expected in Greek program

By Vassilis Kostoulas [email protected] The Dutch ambassador to Greece this week touched on a gamut of issues dealing with the year-long negotiations over the Greek bailout program between creditors and…

Thursday, 04 May 2017

EWG refers to Greek debt sustainability in statement on preliminary agreement

The EuroWorking Group was the latest European entity to praise this week’s “preliminary” agreement between Athens and creditors – saying the deal is the basis for the conclusive second review…

Minister quickly reverses request for council to consider disused airport facilities as ‘modern monuments’

The relevant culture minister made an abrupt “about-face” on Thursday hours after press reports revealed she requested that a ministry-affiliated council re-assess a previous decision, which failed to ascribe architectural…

Appellate court rejects extradition request for last two of eight Turkish servicemen

An Athens appeals court on Thursday issued the same ruling for two out of eight Turkish servicemen whose extradition was requested by Ankara, namely, deciding against their forced return. The…

UAE Minister of State Al Jaber in Athens on Thur.

Greek Prime Minister Alexis Tsipras on Thursday will receive United Arab Emirates (UAE) Minister of State Sultan Ahmed Al Jaber at the Maximos Mansion government house in Athens.   The…

Reports: Govt to increase primary budget surplus target for 2017; lower GDP growth forecast

By T. Tsiros [email protected] A higher primary budget surplus but a lower growth figure for 2017 will reportedly be inserted in the medium-term fiscal adjustment strategy, which is expected to…

Fraport Greece: Talks underway for Qatar Airways flights to Mykonos, Thessaloniki

Officials of Fraport Greece, which recently assumed the management of 14 regional airports around the country, including facilities serving the top holiday destinations, this week referred to “advanced talks” with…

Abandoned airport facilities as possible ‘modern monuments’ emerge as latest redtape obstacle for Helleniko project

The latest bureaucratic obstacle placed before a massive land redevelopment project in coastal southeast Athens appeared this week when it emerged that the relevant culture minister has asked a ministry-affiliated…

Navios Maritime Holdings eyes purchase of FSL Asset Management

Navios Maritime Holdings, the leading company in the group controlled by Greek shipowner Angeliki Frangou, this week announced that it is eyeing the purchase of FSL Asset Management Pte Ltd.…

Moody’s praises Athens-creditors deal; sees 2.5% primary budget surplus for 2017; 1.5% GDP growth

Moody’s on Thursday weighed in on the ongoing debate over the Greek debt issue bedeviling the IMF and the country’s European creditors, referring to heightened possibilities of an agreement for…

115 vessel transactions by Greek shipping interests over first 4 months of 2017

By L. Karageorgos [email protected] Greek shipowners and Greek-controlled shipping companies invested a total of 2.36 billion euros over the first four months of 2017, a period that witnessed many more…

Wednesday, 03 May 2017

2017 targets for reducing NPLs, NPEs in Greece at risk

By A. Doga [email protected] The primary indexes related to the management of non-performing loans (NPLs) and non-performing exposures (NPEs) in Greece remained unfavorable despite Greek lenders’ stepped up efforts to…

Mitsotakis: ND will not support latest austerity, countervailing package of measures

Main opposition New Democracy (ND) leader Kyriakos Mitsotakis on Wednesday evening clarified that his party will not vote for the latest round of austerity measures agreed to with institutional lender…

Emirates adds second daily flight linking Athens with Dubai

Emirates this week announced that it has inaugurated a second daily flight connecting Athens with Dubai, with the aim to increase passenger and cargo traffic on increasingly popular route. The…

Ban on Sunday shopping slated for full, partial lifting as result of latest deal with creditors

By S. Zisimos [email protected]   The looming prospect of a partial liberalization of the framework governing Sunday shop hours in the country will reportedly translate into a lifting of the…

Political waves in wake of Parliament Budget Office’s negative 3-month report on Greek economy

A high-profile warning by the Greek Parliament’s independent Budget Office on Tuesday that the country’s economy remains unstable and risks entering another recessionary phase caused reverberations hours after a preliminary…

Further cuts to pensions, liberalization of Sunday store hours two prominent highlights of latest deal

Tuesday’s early morning agreement between Athens and its institutional creditors featured at least two measures that will continue to bruise the already beleaguered Tsipras government’s support from its more leftist…

One dead in reputed assassination outside primary school outside Athens

One person was dead and another injured after gunfire was reported outside an elementary school northeast of Athens proper. The incident reportedly took place at 8:15 a.m. (06.00 GMT), usually…

Tuesday, 02 May 2017

Bloomberg: EWG meeting on Greek program on Thur.

Tuesday’s agreement between Athens and creditors over reforms by the latter will be the focus of a special EWG meeting on Thursday, Bloomberg reported later in the day, citing what…

High-profile Russian-Greek investor compares Tsipras to Putin; claims Mitsotakis will not become PM

An increasingly high-profile Russian-Greek investor briefly joined the vitriolic domestic political scene this week by comparing current Greek Prime Minister Alexis Tsipras to Vladimir Putin and claiming that the current…

Immediate reaction by IMF, European over Athens agreement on Tues.

An early morning agreement between Athens and its institutional creditors, announced just after sunrise on Tuesday, generated immediate reactions in Europe and as far away as Washington D.C., where an…

Greek airports report passenger traffic up by 6.6 in Q1, yoy

Greek airports reported increased passenger traffic over the first quarter of 2017 by 6.6 percent, compared with the corresponding period of 2016. According to the Civil Aviation Authority, passengers reached…

Govt spox refers to ‘balanced, viable’ agreement with creditors over extra austerity measures

The government spokesman added his “spin” on the day’s early-morning agreement to conclude a still outstanding review of the second Greek program with creditors, referring to “difficulties, delays and outrageous…

Mitsotakis: Tsipras govt signed 4th bailout, without funding, QE inclusion or details over debt relief

Main opposition leader Kyriakos Mitsotakis pointed to a “fourth memorandum” that the Tsipras government signed in the early morning hours of Tuesday, one he charged was “different and harsher” than…

Creditors’ statement: After deal further discussions on Greek debt’s sustainability

Greece’s institutional creditors on Tuesday morning referred to an agreement that will form the basis for a conclusion of the second review of the Greek program, hours after specific measures…

Latest pension cuts in Greece to affect 900K beneficiaries

By S. Papapetros The latest social security cuts agreed to between the leftist Greek government and institutional creditors are expected to affect some 900,000 beneficiaries in the country, with a…

FinMin cites overall deal with creditors; pension cuts finalized, tax base extended downwards

The Greek government and creditors’ top auditors have reportedly reached an agreement to finally close out negotiations, after 12 hours of talks held on Monday at a downtown Athens hotel,…

Monday, 01 May 2017

Greek official: Negotiations with creditors to resume on Monday over differences

The latest round of negotiations between the Greek government’s top ministers and creditors auditors is set for Monday afternoon, given that an extension in talks was decided last week in…

Die Welt: Schaeuble considering compromise with IMF over Greek program

News out of Germany, the Eurozone’s economic locomotive and “paymaster”, regarding ongoing negotiations over the Greek program and standing differences between the IMF and European creditors continued over the weekend,…