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Monday, 29 May 2017

Draghi to MEPs: No QE for Greek bonds until debt relief finalized

European Central Bank (ECB) President Mario Draghi on Monday told European Parliament deputies that the euro zone’s central bank awaits a comprehensive agreement that will render the Greek debt as…

Ex-PM Papademos to be transferred from precautionary stay in ICU

The hospital where former prime minister Lucas Papademos is being treated after a parcel bomb detonated in the sedan he was riding in last week on Tuesday announced that he…

Marginal improvement in total credit in April, month-on-month

Total credit in crisis-bedevilled Greece only marginally improved in April 2017 over the previous month, but still remaining in “negative territory”, with the figure at -1.6 from -1.7 percent in…

Former Greek PM Constantine Mitsotakis passes away

Former Greek prime minister Constantine Mitsotakis passed away in the early morning hours of Monday. Mitsotakis, the father of current main opposition leader Kyriakos Mitsotakis, died at the age of…

Sunday, 28 May 2017

Eurobank economic bulletin: Greek GDP rate lags behind EZ average by 2.2% points

The divergence between Greece’s growth rate and that of the Euro zone average by 2.2 percentage points was the highlight of Eurobank’s weekly economic report last week. The specific figure,…

ND continues to field double-digit percent point lead over ruling SYRIZA

The latest opinion poll unveiled over the weekend gives main opposition New Democracy (ND) a 16.6-percentage point leading of ruling SYRIZA. The poll was published in the Sunday weekly “Proto…

Tsipras phones Papademos; condemns terror attack

Greek Prime Minister Alexis Tsipras spoke by phone on Sunday afternoon with former premier Lucas Papademos, who remains hospitalized after a parcel bomb exploded in a car he was riding…

Friday, 26 May 2017

Leaked Eurogroup minutes point to stern Schaeuble stance; Greek FinMin’s woried over ‘political crisis’ in Athens

By N. Bellos & G. Kampourakis    The purportedly leaked minutes from Monday’s Eurogroup meeting in Brussels, which failed to generate an agreement between creditors over the Greek bailout, point…

CNBC cites IMF source as saying July repayments ‘ensure’ Greek deal will be reached at June Eurogroup

CNBC reported on Friday that a deal between Greece and its creditors at the upcoming June 15 is almost guaranteed, given that the country must pay back bailout loans in…

First step taken between Panathinaikos, state to exchange current stadium for new venue

The first step, among what are expected to be many more, was taken on Friday towards constructing a new pitch for the Panathinaikos football club, with the amateur Panathinaikos organization…

Reports: Book with explosive material inside parcel caused blast that injured former Greek PM

Press reports on Friday claimed the previous day’s assassination attempt against former Greek prime minister Lukas Papademos employed a gunpowder-laden book within a parcel sent to him. The same reports…

The Attack

By Thanos Catsambas Nonresident Senior Fellow Global Business and Economics Program Officials and private citizens around the world have condemned the attack of May 25th against Lucas Papademos, former Prime…

Dombrovskis: ‘Greece delivering’ on its commitments; deal by June 15 within reach

By Vassilis Kostoulas [email protected] EU Commission Vice-President Valdis Dombrovskis took a distinctly sober view of the Greek debt issue, in an interview with “N” this week, urging all sides to…

Thursday, 25 May 2017

Papademos treated for minor injuries from letter bomb; remains hospitalized as a precaution

Former Greek prime minister Lukas Papademos suffered only superficial injuries to the chest, abdominal area and thighs from a letter bomb that exploded in his armored limousine on Thursday afternoon,…

IMF spox reiterates Fund’s stance on Greek bailout: ‘Need to see debt sustainability’

IMF spokesman Gerry Rice on Thursday repeated that the Fund needs “specificity” in terms of Greek debt sustainability in order to rejoin the country’s bailout. “The IMF position remains: that…

Trump crosses path with Greek PM Tsipras for the first time at NATO summit; chat with Merkel

Greek Prime Minister Alexis Tsipras got his first personal glimpse of Donald Trump on Friday on the sidelines of a NATO summit in Brussels, as the leftist premier briefly spoke…

Bomb blast targets former Greek PM Papademos’ car; one injury reported

An explosion targeting the car of former Greek prime minister and central banker Lucas Papademos was reported on Thursday afternoon, at roughly 6.30 p.m. local time, in central Athens. One…

Cosco eyes coordination with ports around Greece for improved cruise ship management, promotion

By A. Tsimplakis [email protected] Chinese multinational Cosco is expected to intensify efforts to transform the port of Piraeus into the pre-eminent cruise ship homeport and hub in the eastern Mediterranean,…

Econ Minister Papadimitriou refers to major growth potential of Greece’s healthcare system, during inaugural “N” con’f

Economy and Development Minister Dimitri Papadimitriou on Thursday cited what he called the great potential for economic growth and investment opportunities offered by Greece’s healthcare and affiliated sectors, speaking during…

Greece budget: ‘Sin taxes’, VAT remittances fail to reach targets over Jan-Apr period

Figures for Greek state revenues in the executed budget over the January-April 2017 period showed a serious shortfall in terms of VAT remittances, income taxes and all types of “sin…

Wednesday, 24 May 2017

European Environmental Agency gives ‘thumbs up’ to Greek bathing waters for 2016

Greek beaches received a sterling report card from the European Environmental Agency on Wednesday in the body’s annual “State of bathing water” survey, which detailed water quality for the previous…

Greek PM blames ‘harsh winter’ for recent higher power bills

Greek Prime Minister Alexis Tsipras blamed a “harsh winter” in the Greece over the 2016-2017 period for causing a rise in power consumption by 9 percent, in answer a press…

Greek budget posts 1.726 bln€ primary surplus over Jan-Apr period

Greece’s state budget posted a primary surplus of 1.726 billion euros over the January-April 2017 period, down from a corresponding figure of 1.906 billion euros over the same period in…

Hellenic Petroleum general assembly postponed after Latsis group request

By G. Kanoupakis A previously scheduled annual general assembly of shareholders of Hellenic Petroleum (Hel.Pe), the country biggest petro-chemical conglomerate, was postponed on Wednesday for next month, following a request…

Reuters: ESM paper says Greek debt relief unnecessary if high fiscal targets maintained for 2 decades

Reuters on Wednesday quoted a “confidential paper” prepared by European Stability Mechanism (ESM) as advising that bailout-dependent Greece will not need debt relief by European creditors if the country posts…

Greek PM says he rejected Schaeuble debt offer; eyes market borrowing after bailout ends in 2018

Greek Prime Minister Alexis Tsipras on Wednesday said his government rejected a proposal for Greek debt relief earlier in the week that was presented at the Eurogroup meeting in Brussels…

Greek govt scrambles to find ‘Plan B’ in the wake of latest failed Eurogroup meeting

By G. Kampourakis [email protected] The Tsipras government appeared surprised and unable to intervene in the contentious negotiations between Berlin and the IMF over the Greek debt issue, in the wake…

Latest pension, benefits cuts to affect millions of Greek households

By S. Papapetros [email protected] The number of Greek pensioners and beneficiaries to be affected by the latest round of austerity cuts and higher social security contributions will reach into the…

Tuesday, 23 May 2017

Short-term debt relief already paying off for Greece

Short-term debt relief measures implemented last January by the European Stability Mechanism (ESM) have already generated beneficial effects for Greece’s debt load, as relevant figures for outstanding loans and bonds…

Schaeuble expresses optimism over Greek bailout deal in June

Powerful German FinMin Wolfgang Schaeuble on Tuesday appeared uncharacteristically optimistic over the prospects of a conclusive agreement for the Greek bailout program by next month’s scheduled Eurogroup meeting, speaking a…