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Tuesday, 20 December 2016

EWG decision on effects of ‘holiday bonus’ for Greek pensioners delayed until Wed.

By N. Bellos A closely-watched EuroWorking Group session that convened on Tuesday to examine the repercussions of a recently announced one-off bonus to Greek pensioners on the country’s bailout program…

Angelicoussis orders massive FSRU unit from Korea’s Daewoo shipyard

By Lambros Karageorgos [email protected] The Angelicoussis Shipping Group is expanding its activity in the liquefied natural gas transport sector with the recent order of a floating storage and regasification unit…

Average part-time monthly pay in Greece just below 400 euros

Greece’s largest social security fund (IKA) this week pinpointed the average monthly salary for part-time employees in the country at below 400 euros, with the latest figures emanating from April…

Athens among Condé Nast’s top 17 travel picks for 2017

The Greek capital, Athens, is among the top 17 holiday destinations for 2017, according to the prestigious US travel magazine Condé Nast Traveler. Canada gets top billing in the magazine’s…

Reports: IMF decision on Greek program after new US administration sworn-in

German press reports this week referred to a “tense climate” between Athens and institutional creditors over the issue of the International Monetary Fund’s (IMF) presence in the Greek program (third…

Arrears owed by the state reduced by 1.138 bln€

Payment of arrears owed by the state towards the private sector were reduced by 1.138 billion euros in November 2016, falling from 3.38 billion euros to 2.242 billion euros, according…

Book of condolences opened at Russian embassy for assassinated ambassador

The Russian embassy in Athens on Tuesday announced that a book of condolences will be opened at the historical building of the Russian representation in Greece — 7, Irodou Attikou…

Tsipras to await EWG ‘verdict’ on holiday bonus while on Crete

By D. Hatzinikolas Greek Prime Minister Alexis Tsipras will be on a tour of the large island of Crete on Tuesday when the EWG is set to offer an opinion…

Samothrace added to list of isles given 1-year suspension from VAT hikes; vote on Wed

The extreme northeast Aegean island of Samothrace was the “cherry on the cake” of the leftist Greek government’s decision — mostly supported by the opposition in Parliament — to suspend…

Moderate quake in eastern Aegean, near isle of Nisyros

An earthquake measuring 5.1 on the Richter scale was recorded on Tuesday morning, with the epicenter west of the Dodecanese island of Nisyros. The quake was recorded a few minutes…

Monday, 19 December 2016

Prosecutors estimate damages to state of 53 mln€ from shipyard’s 2002 sale to German consortium

Special anti-corruption magistrates have calculated the monetary damages for the Greek state from the 2002 sale of the Skaramangas shipyards (Hellenic Shipyards S.A.) to the German consortium HDW/Ferrstaal at 53…

Greek condemnation of Russian ambassador’s assassination in Turkey

Official Greece’s condemnation of the shocking assassination of Russia’s ambassador to Turkey on Monday was swiftly conveyed over Twitter. “Greece unequivocally condemns the heinous murder of #Russia’s Ambassador to #Turkey.…

World Bank cites 20 risks for Greece’s sputtering land registry project

By Teti Igoumenidi [email protected] The Greek state’s “Sisyphean” task of finally establishing a unified and functional land registry (cadastre) in the country has reportedly entered yet another crucial junction, with…

Turkish violations of Athens FIR turned into over-flights of isles on Mon.

The latest instance of Turkish warplanes entering the Athens FIR without a flight plan turned into over-flights of a couple of small Greek islets in the eastern Aegean on Monday,…

EWG to again take up Greek debt relief measures on Tues.

By N. Bellos The Euro-Working Group (EWG) will convene on Tuesday afternoon to again examine the issue of short-term debt relief measures for Greece, whose processing and, more importantly, implementation,…

2017 eyed as ‘landmark’ year for tackling massive NPLs, NPEs problem in Greece

By A. Doga The Bank of Greece (BoG) this week warned that only three out of 100 (3 percent) restructured loans remain serviced afterwards, just one of several indices presented…

Greek govt unveils pre-emptive budget ‘cutter’ to avoid spending overruns

A precautionary automatic “cutter” for state spending during execution of the coming 2017 budget will reportedly be activated by the General Accounting Office with the advent of the new year,…

Sunday, 18 December 2016

One in six businesses in Greece chooses to be a ‘strategic defaulter’

By A. Doga Non-performing exposures (NPEs) continue to attract the undiminished interest and concern of the Bank of Greece (BoG), which last week announced a stabilization in the sector and…

Saturday, 17 December 2016

Mitsotakis: Tsipras was tested, and failed

Main opposition New Democracy leader Kyriakos Mitsotakis on Saturday again referred to the need for a major political change in Greece, one that will allow for a “radical restart”, as…

Closing delayed second review of Greek program now bumped to new year

By T. Tsiros Expectations for a conclusion of the now delayed second review of the Greek program (third bailout) now aim for January 2017, as the most recent round of…

Regling to El Mundo: One-off bonus for pensioners not expected to affect 2017-18 fiscal targets

European Stability Mechanism (ESM) managing director Klaus Regling on Saturday appeared to backtrack slightly from his initial position regarding a surprise holiday bonus announced by the Greek premier for pensioners,…

Der Spiegel: the ‘old Tsipras has returned’

“The old Tsipras has returned”, was the way Der Spiegel described the Greek prime minister one-day visit to Berlin for a closely watched meeting with the German chancellor. The major…

Punitive tax rates for undisclosed corporate profits announced

Corporate tax rates for previously untaxed profits that legal entities operating in Greece will voluntarily disclose will vary from 21.6 percent to a maximum 52.5 percent, according to provisions of…

Friday, 16 December 2016

Tsipras cries foul to Merkel over IMF role in Greek program; presses for second review, QE

Greek Prime Minister Alexis Tsipras reportedly touched on his leftist government’s ongoing row with the IMF and the latter’s repeated warnings of leaving the Greek bailout program, in talks in…

Juncker, Tsipras speak by phone as creditors wrap up Athens negotiations

By N. Bellos The course of the Greek program in the wake of a conclusion of talks between the Greek side and institutional creditors’ representatives was the subject of Friday’s…

Juncker, Tsipras speak by phone as creditors wrap up Athens negotiations

By N. Bellos  The course of the Greek program in the wake of a conclusion of talks between the Greek side and institutional creditors’ representatives was the subject of Friday’s…

Merkel says she’ll hear out Tsipras, but Eurogroup to decide on bailout program issues; increased references to Turkey

German Chancellor Angela Merkel reiterated on Friday, albeit in an affable tone, that decisions on the Greek bailout program are not taken in Berlin but at the Eurogroup setting, a…

BoG also cites risk from ‘holiday bonus’ given by Greek PM to pensioners

The Bank of Greece’s (BoG) interim report for monetary policy on Friday echoed European creditors in citing risks for achieving fiscal targets due to the recent and surprise announcement of…

Shock waves from Ladenburger murder case extend to Greece; suspect released via leniency law

The latest flare-up in Greek-German relations came this week when authorities in both countries confirmed that a teenage Afghan man sentenced to jail in Greece in 2014 for attempted homicide…

Athens looks forward to Merkel-Tsipras meeting on Fri.; migrant issue expected to be opened

Expectations from Friday’s scheduled meeting in Berlin between German Chancellor Angela Merkel and visiting Greek Prime Minister Alexis Tsipras are low, according to a report by DW the same day.…