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Thursday, 01 December 2016

Athens responds to latest Turkish provocation over territorial sovereignty

The Greek foreign ministry issued a statement on Thursday in the wake of yet another challenge to the country’s sovereignty by a top Turkish government official, as increasingly nationalist language…

EU-Turkey relations discussed by Tsipras, Merkel

Greek Prime Minister Alexis Tsipras spoke by phone late Thursday morning with German Chancellor Angela Merkel, a press release from the former’s office revealed. EU-Turkey relations, the recent developments on…

Study: Retail sector slide continues; private consumption down for 7th consecutive year

Some 27.6 of Greek businesses surveyed in a recent study that cited overdue debts and lower turnover in the first half of 2016 reported that they face the specter of…

Blast in central Athens; six wounded

A powerful blast badly damaged a sandwich shop in central Athens’ Victoria square on Thursday morning, with six people injured and one person’s fate unknown. No information was given on…

Wednesday, 30 November 2016

OECD: Greek tax revenue/GDP ratio up by one percentage point in 2015 (36.8%)

Tax revenue as a percentage of Greece’s GDP grew by one percentage point to 36.8 percent in 2015, up from 35.8 percent in 2014, the Organisation for Economic Co-operation and…

WSJ: ESM has ready proposal to cut Greek debt by 20% through 2060

The WSJ on Wednesday reported that the European Stability Mechanism (ESM) has already prepared a written proposal eying a reduction in Greece’s debt load by 20 percent through far-off 2060.…

Deal for privatization of Greek natgas grid operator collapse

Talks for the privatization of 66-percent of Greek natgas grid operator DESFA have broken off between the Greek government, which controls the utility, and representatives of Azerbaijan’s state-run Socar and…

Top EZ official: 2nd review of Greek program by Monday remote; late Dec. target

By N. Bellos A top Eurozone official on Wednesday predicted that a comprehensive agreement for the ongoing Greek program is possible by the end of the year, but increasingly difficult…

3 Greek fire-fighting planes return from Israel

Three Greek fire-fighting planes (CL-415) returned to Greece this week after participating in efforts to extinguish a series of wildfires that erupted in Israel over the past week. Following a…

Greece remains on IMO confirmed list for implementation of STCW’78 convention

Greece has successfully passed its review for implementation of the Standards of Training, Certification and Watchkeeping for Seafarers ’78 international convention, thereby remaining on the IMO’s confirmed states list. The…

Μoscovici to “N”: ‘This Greek govt really delivers’; negotiations impossible with Varoufakis

By V. Kostoulas European Commissioner Pierre Moscovici concluded numerous meetings and appearances in Athens this week by emphasizing that Greece is a sovereign state that imposes the taxes it wants,…

Greek PM attends, makes brief eulogy at Castro memorial

Greek Prime Minister Alexis Tsipras represented the country at a memorial service in Havana on Tuesday for late Cuban leader Fidel Castro, beginning his brief eulogy — one of many…

Tuesday, 29 November 2016

FinMin: Dec. 5 a ‘landmark’ for bailout program, economy; govt spox: No ‘Plan B’

The leftist Tsipras government is apparently “doubling down” this week on the prospect of both achieving a second review of the Greek program (third bailout) by the unofficial Dec. 5…

Moscovici leaves open possibility of lower fiscal targets for Athens after 2018

European Commissioner Pierre Moscovici continued his stepped up contacts and appearances in the Greek capital on Tuesday by leaving open the possibility of lower  2018 fiscal targets demanded of the…

EWG: Progress in talks over Greek program; outstanding issues remain

The EWG’s conclusions from its lengthy Monday session echoed previous and repeated Eurozone officials’ statements of “progress in talks” towards a second review of the Greek program, in tandem with…

Dijsselbloem: All types of Greek debt relief measures on Dec 5 Eurogroup agenda

By N. Bellos Eurogroup chair Jeroen Dijsselbloem on Tuesday told MEPs that all types of measures envisioning Greek debt relief will be discussed at next week’s Dec. 5 meeting of…

Athens tables ‘win-win’ proposal to ease fiscal targets, bridge differences between IMF, Europeans

Athens’ proposal to encourage the IMF and European creditors to compromise on the Greek program — but without adversely affecting the Greek side — foresees a reduction of high primary…

Monday, 28 November 2016

Mitsotakis meets with Bulgarian leadership in Sofia; contacts with Greek business community

Main opposition New Democracy (ND) president Kyriakos Mitsotakis met with Bulgarian leadership on Monday in Sofia, as he was received separately by Bulgarian PM Boyko Borissov and Bulgarian President Rosen…

Tsipras, Moscovici discuss bailout program, debt relief

Greek Prime Minister Alexis Tsipras on Monday received visiting European Commissioner Pierre Moscovici, with talks – according to the former’σ office – focusing on the Greek program and the overall…

Draghi: Greek debt relief would be in Eurozone’s interest

By Nikos Bellos [email protected] ECB President Mario Draghi said it was to the Eurozone’s benefit for a solution to be hatched for Greek debt relief, saying momentum must not be lost.…

Moscovici: IMF should return to Greek program; time has come to discuss debt relief

EU Commissioner Pierre Moscovici laid bare the differences between European creditors and the IMF concerning the Greek program (third bailout) in an address in Athens on Monday, during a day…

ΕCB’s Cœure praises reforms completed by Athens, says more remain

European Central Bank (ECB) executive board member Benoît Cœuré had soothing words for his Greek hosts on Monday, where he told an audience at an economic conference in Athens that…

Regling negative to debt ‘haircut’; relief only if necessary at end of program

European Stability Mechanism (ESM) Managing Director Klaus Regling appeared categorically against the prospect of a “haircut” for the Greek debt, without however, ruling out relief measures such as an extension…

OECD also forecasts Greek GDP economic rebound in 2017-18

The Organization for Economic Cooperation and Development (OECD) on Monday mostly echoed European creditors, the IMF and the Greek government in announcing that the recession-battered Greek economy returned to growth…

Creditors reportedly nix prospect of more favorable regime for payment of arrears to state

By G. Kouros A new proposal tabled by Greece’s institutional creditors also reportedly dampens any prospect of instituting a more favorable regime for paying off arrears to the state, or…

Crunch time — again — for Greek economy, society, political system

By G. Kouros Fast-forward seven years into Greece’s punishing and unremitting economic crisis and 35 percent of the population appears in danger of falling under the EU’s poverty and social…

Greek PM in Cuba for event honoring Castro

Greek Prime Minister Alexis Tsipras will depart for Cuba on Monday evening to in order to attend a memorial service for Fidel Castro in Havana this week. Government sources on…

Sunday, 27 November 2016

‘Hell week’ begins on Mon. for govt’s quest to conclude 2nd review, commence debt relief talks

Yet another crucial week for the current Greek program – the third bailout since 2010 — begins anew on Monday, with only days left for Athens to achieve a timely…

Greek leadership reacts to death of Fidel Castro

Greek leadership joined the international chorus of reaction over the weekend on the occasion of Cuban leader Fidel Castro passing, with statements by political leaders mostly mirroring their ideological foundations.…

Top honor for well-known shipowner A. Martinos

Eastern Mediterranean Maritime Ltd. founder Athanasios Martinos was the recipient of this year’s top honor by the Hellenic Institute for Marine Technology (ELINT) for his major contributions to the global…