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Monday, 20 March 2017

Dijsselbloem: Negotiations will continue in Brussels; labor sector liberalization, tax issues pending

Eurogroup chairman Jeroen Dijsselbloem referred to certain “key issues” that remain unresolved in negotiations between the Greek government and institutional creditors, following Monday’s Eurogroup meeting in the Belgian capital, although…

Social security spending in Greece now at roughly 29bln€; cuts of 2.2 bln€ eyed

By T. Tsiros [email protected] Greece’s closely scrutinized spending for all types of social security benefits now hovers at between 2.3 to 2.4 billion euros per month, or up to 29…

Latest ‘unofficial deadline’ now April 7 for Greek review; FinMin meeting with creditors’ reps

By N. Bellos Creditors’ top representatives and Greek FinMin Euclid Tsakalotos were holding anotherround of face-to-face meeting in Brussels on Monday afternoon ahead of a scheduled Eurogroup meeting – yet…

Air controllers strike in Itally to disrupt flights, airlines alliance warns

More than 500 flight cancellations are expected during Monday’s air traffic control strike in Italy, according to the Airlines for Europe alliance. In a press release, A4E said the four-hour…

Registered unemployment in Grece up in Feb. 2017, compared to previous month

Registered unemployment in Greece again increased in February 2017 over the previous month, another negative development over the first two-months of a year touted as the beginning of an economic…

Four labor sector issues block Greek bailout review

By S. Papapetros Labor sector liberalization continues to constitute one of the biggest obstacles in concluding the now year-long delayed second review of the Greek program, with the IMF the…

Reports: Austerity measures in Greece after 2019 calculated with that year’s GDP, not current level

The specter of new austerity measures to be imposed in 2019 — assuming gasping negotiations conclude over the now delayed second review of the Greek program — are likely to…

Bloomberg refers to ‘another missed deadline’ for Greek bailout program

Bloomberg forecasts another missed deadline for concluding the now utterly delayed review of the Greek program, as yet another “unofficial deadline” will probably come and go on Monday, March 20.…

Friday, 17 March 2017

Govt: ‘Several issues’ concluded on Friday with creditors; political solution needed for labor reform

The Greek government on Friday evening maintained that “several issues” were resolved the same day in last-minute negotiations with creditors’ top representatives, talks that were held via a teleconference.  …

Archaeologists say they’ve uncovered site where ancient Athenian fleet docked before Battle of Salamis

Greek archaeologists on Friday announced that they have uncovered the partially submerged remains of the anchorage used by ancient Athenian warships (triremes) prior to the sea battle of Salamis in…

EL.PE exploration, exploitation deal with Total, Edison

Greece-based Hellenic Petroleum (EL.PE) group on Friday announced the initialing of a exploration and exploitation concession contract for “Block 2”, west of the Ionian island of Corfu, with Total and…

Self-professed multi-billionaire who promised to pay off Greek debt with bearer bonds convicted of embezzlement

A highly controversial figure that emerged onto Greece’s populist-plagued national limelight over the recent period — by claiming to control or have access to up to 600 billion euros worth…

CNBC: IMF ‘moving closer’ to rejoing Greek bailout

CNBC on Friday afternoon cited sources as saying the International Monetary Fund (IMF) was ” “moving closer” to rejoining the Greek bailout program. The article, bylined by Silvia Amaro, nevertheless…

BoG: Greek budget’s cash primary surplus down in Jan-Feb 2017, yoy

Greece’s closely watched state budget posted a smaller primary surplus (on a cash basis) over the first two months of  2017, compared with the same period of 2016, the Bank…

EZ source: If progress doesn’t come soon, negotiations between creditors, Athens may drag on until summer

By N. Bellos & M. Hatzikonstantinou The latest “unofficial deadline” given for finally concluding the now long-overdue second review of the Greek program (third bailout), which was none other than…

Arrears to Greek state surge in Jan. 2017

By G. Kouros [email protected] Taxpayers’ arrears towards the state again surged in January 2017, as ripples from last year’s “tax tsunami” are now causing “waves” in current revenue targets. Moreover,…

Local businessman abducted, later freed by suspects after business’ safe raided

A local businessman was abducted at gunpoint on Thursday evening at his home by three gunmen, who in turn transported him back to his business in southeast Athens, where they…

Thursday, 16 March 2017

Urban redevopment plan unveiled by PM, Athens mayor includes relocation of Panathinaikos’ pitch

“Major interventions” in the Greek capital’s congested urban landscape was the “headline” assigned to a meeting between Greek Prime Minister Alexis Tsipras and Athens Mayor Giorgos Kaminis on Thursday, although…

Greek minister: Parcel bomb that exploded at IMF sent from Greece

The Greek government on Thursday confirmed that yet another parcel bomb, this time the one that actually exploded at the IMF’s offices in Paris hours earlier, was sent from Greece.…

Greek shipping registry falls to 3rd place in terms of Greek-owned vessels; still first in terms of tonnage

By L. Karageorgos    [email protected] A negative milestone, after many years, was revealed this week with the announcement that the Greek registry of ocean-going vessels fell from first place to…

Greek postal service points to contractor for security lapse that allowed parcel bomb to reach Berlin ministry

The Greek Postal Service (EL.TA) said it has ordered an “in-depth investigation” over possible oversights by a contracting company tasked with screening mail and parcels flown out of the Athens…

Greek unemployment up in Q4 2016, qoq, reaches 23.6%

Greek unemployment, already fixed in mid 20s range for months now, reached 23.6 percent in the fourth quarter of 2016, up from 22.6 percent in the previous quarter. The figure…

Statement by Christine Lagarde on the Explosion in the IMF’s Paris Office

Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made the following statement today in Frankfurt, Germany:   “I have been informed about the explosion in the IMF’s Paris…

Athens reacts angrily to Reuters report over snap election prospect

The Greek prime minister’s office reacted angrily to a same-day Reuters report asserting that the embattled leftist government in Athens is considering snap elections. In fact, a statement circulated to…

BoG Gov: Successive bailout programs, despite painful costs, improved economy’s growth prospects

By A. Doga [email protected] Bank of Greece (BoG) Gov. Yannis Stournaras on Wednesday again called for a compromise between Athens and institutional creditors to overcome differences and finally achieve a…

Anti-state terror gang claims responsibility for letter bomb sent to German finance ministry

A shadowy urban terror group on Thursday assumed responsibility for the sending of an explosive-laced parcel to the German finance ministry. The “Conspiracy of Fire Nuclei”, which has in the…

Wednesday, 15 March 2017

German media report: Booby-trapped parcel sent to finance ministry in Berlin sent from Greece

According to exclusive information cited by Märkische Allgemeine, the parcel reportedly lists a sender with an address in Greece, while a Greek postal stamp was also visible – or so…

NPLs, liquidity and still imposed capital controls dominate meeting between ND leader, banks’ reps

Increased liquidity for Greece’s still “asphyxiated” credit sector and the “Olympus-sized” mountain of non-performing loans (NPLs) dominated talks on Wednesday between main opposition New Democracy (ND) leader Kyriakos Mitsotakis and…

Ministers brief SYRIZA MPs over negotiations with creditors

Greek Finance Minister Euclid Tsakalotos and Labor Minister Efi Achtsioglou on Wednesday briefed groups of deputies of ruling SYRIZA party over the course of still ongoing negotiations between Athens and…

Parliament Budget Office: Greece needs debt restructuring in tandem with ‘crucial reforms’

The increasingly outspoken Parliament Budget Office, an independent entity under the legislature’s jurisdiction, on Wednesday again reiterated the need for a “serious restructuring of Greece’s debt”. Moreover, the Budget Office,…