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Thursday, 08 December 2016

Another 1.4 bln€ in arrears added in Oct. 2016; 11.8 bln piled on between Jan-Oct

By Giorgos Palaitsakis [email protected]  Arrears towards the Greek state inched closer to the “landmark” 100 billion-euro mark in October 2016, with official figures putting it at 94 billion euros, of which…

Tsipras: 617 mln€ in primary budget surplus disbursed to 1.6 mln pensioners

Greek Prime Minister Alexis Tsipras took to the airwaves on Thursday evening to announce that “most” of the money that comprised this year’s primary budget surplus in Greece will be…

Greek PM to make live televised announcement on Thur., reports point to welfare package for lower-income groups

Greek Prime Minister Alexis Tsipras was expected to take to the national airwaves on Thursday evening to essentially announce a new welfare package, three days after his finance minister exited…

Privatization fund, National Bank agreement over latter’s board room selection process

A joint announcement on Thursday by the Greek privatization fund (HFSF) and National Bank of Greece (NBG) cited an agreement by which the former will nominate one new member for…

Greek minister confirms creditors’ standing opposition return of mandatory collective bargaining framework

Greek Labor Minister Efi Ahtsioglou on Thursday from Brussels more-or-less confirmed what press reports out of Athens have been stating for months now, namely, that creditors remain opposed to the…

Tsipras govt ‘circling the wagons’ over creditors’ demands for fiscal targets, labor market reforms

By D. Hatzinikolas Greek Finance Minister Euclid Tsakalotos told members of a top ruling SYRIZA party council on Wednesday that neither he nor the leftist government will back down from…

Netanyahu support for all types of cooperation with Greece, Cyprus; energy sector tops agenda

Israeli Prime Minister Benjamin Netanyahu expressed his support for every type of trilateral cooperation between his country with Greece and Cyprus, speaking on Thursday after a high-profile meeting in Jerusalem…

Jobless figures eases to still high 23.1% in Sept. 2016

The unemployment figure improved in September 2016, dropping more than a percentage point from 24.7 percent in the corresponding month of 2015 to 23.1 percent, based on a seasonally adjusted…

Piraeus Bank nomination com’t convenes over CEO candidate

By A. Doga A crucial session of a nomination committee set up by systemic Greek lender Piraeus Bank will convene on Thursday, with one or two executives expected to be…

Reports: Cosco-led Piraeus port faces old, new challenges following buyout

By A. Tsiblakis The Cosco-led management at the Piraeus Port Authority (OLP) is reportedly facing a barrage of recent legal and labor-related challenges months after the Chinese multinational took over…

Tsipras in Jerusalem on Thur. for meeting with Netanyahu, Anastasiades

Greek Prime Minister Alexis Tsipras is in Jerusalem on Thursday for a three-country meeting between the prime ministers of Israel, Cyprus and Greece, i.e. his counterparts Nikos Anastasiades and host…

Wednesday, 07 December 2016

US envoy Pyatt: Greek economic recovery underway; uncertainty discourages investment

By Vassilis Kostoulas  [email protected] US ambassador Geoffrey R. Pyatt pointed to uncertainty as the biggest obstacle in attracting investments to Greece, speaking on Tuesday to a small group of local reporters.…

Tuesday, 06 December 2016

Creditors nix proposal for ‘protected’ bank account fielded by businesses

By Giorgos Palaitsakis [email protected] Two prominent measures eagerly promoted by the Greek government for inclusion in a draft bill loaded with incentives to expand the use of electronic transactions have…

Greece earns lackluster 43rd place in PISA academic ratings

Greece earned a disappointing 43rd place among 72 countries surveyed in this year’s Programme for International Student Assessment (Pisa), which provides education rankings based on international tests taken by 15-year-olds…

NYT includes SYRIZA in poll of Europe’s most populist parties

Greece’s ruling SYRIZA party, which assumed power as a hard-left anti-bailout juggernaut but has distinctly «mellowed» over nearly two years in office, was included in «mixed company» on Tuesday by…

Sueddeutsche Zeitung praises Tsipras as incomparable in implementing memorandum reforms

Germany’s standing opposition to immediate and generous debt relief for Greece may cause the collapse of Alexis Tsipras’ government and a return of the Greek crisis to the forefront, the…

Appeals council rules in favor of extradition of 3 Turk officers, a day after blocking the handover of another trio; appeal filed

The same appellate judicial council, but with a different composition of judges, which on Monday ruled against the extradition of three Turkish military officers a day later surprised an Athens…

No progress on labor sector reform negotiations; risk for second review remains

By S. Papapetros Lack of any progress in negotiations between Athens and institutional creditors over labor sector liberalization continues to burden talks to conclude the now delayed second review of…

Report: Judicial rapporteur finally appointed in Marinopoulos bankruptcy case; deadlines looming

A judicial rapporteur in the closely watched Marinopoulos bankruptcy case was reportedly appointed on Monday, after a month and a half of delay. The development, if true, will mean a…

Monday, 05 December 2016

Govt beams over short-term debt relief; opposition fumes

A statement issued by the Greek prime minister’s office in the wake of Monday’s Eurogroup referred to the debt relief portion of the Eurogroup’s decision as a “significant success” and…

Eurogroup: Approval for short-term debt relief; fiscal targets remain, review pending

The Eurogroup issued a Delphic announcement on Monday afternoon regarding the closely watched and still unresolved second review of the Greek program (third bailout), announcing previously leaked short-term measures, praising…

Eurogroup: No review yet, short-term debt measures cited; fiscal targets to remain in ‘medium term’

The Eurogroup issued a Delphic announcement on Monday afternoon on the closely watched second review of the Greek program (third bailout), announcing previously leaked short-term debt relief measures, praising progress…

Eurogroup statement on Greece

The Eurogroup welcomes the progress that has been made in reaching full staff-level agreement between Greece and the institutions in the context of the second review of the ESM programme.…

Eurogroup statement on Greece

The Eurogroup welcomes the progress that has been made in reaching full staff-level agreement between Greece and the institutions in the context of the second review of the ESM programme.…

Appeals court rules against extradition of 3 Turkish officers to Turkey; same expected for remaining five

An appellate level council in Athens on Monday issued a decision permanently blocking the extradition of three out of eight Turkish military officers that sought political asylum in Greece following…

Schaeuble again bypasses debt, fiscal targets issues; points to reforms by Athens

German Finance Minister Wolfgang Schaeuble said on Monday issued his own particular brand of “spoiler alert” hours before a closely watched Eurogroup meeting in Brussels, saying Greece can achieve a…

With global political landscape turned upside down, Tsipras govt now needs deal that includes debt

By D. Hatzinikolas The latest “headache” for Greece’s leftist government, beyond its standing obligations and challenges, is the increasingly changing international and European political landscape, as the scheduled departure of…

Govt eyes major overhaul of property tax regime; as of 2018

Greece’s finance ministry is working on a draft proposal to replace the current property tax (ENFIA) with a new framework that will include all real estate assets in the country,…

Labor sector reform enters ‘final stretch’ in negotiations between Athens, creditors

By S. Papapetros Liberalization of the regime affecting mass layoffs  in Greece remains the primary “stumbling block”  in an agreement between creditors and Athens to conclude the second review of…

‘Plan B’ for second review of Greek program foresees conclusion this month or Jan. 2017

By N. Bellos Preparing the groundwork for a “Yuletide” or even New Year’s agreement to conclude the second review of the Greek program (third bailout) has emerged as the goal…