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Sunday, 27 November 2016

Finance ministry promises to expand ‘safari’ for undeclared assets, incomes in 2017

By G. Kouros The finance ministry’s continued “safari” to locate and tax undeclared income and assets held in Greece and abroad by alleged tax evaders and Greek citizens using tax…

Heavy rains cause problems in greater Athens area

A torrential thunder storm over the greater Athens area in the early morning hours of Sunday caused several flood-related problems, including knocking out three metro stations. More than 200 calls…

Friday, 25 November 2016

First 897 mln€ οf 2.36 bln approved for Greece via ‘Juncker plan’

Some 897 million euros out of the 154-billion-euro  “Juncker package” have already been approved by the European Investment Bank (EIB) for nine separate projects in Greece from the specific initiative,…

‘Black Friday’ debuts as a smashing success in Greece

“Black Friday” emerged as a resounding success in Greece this week, as several store chains and the major shopping malls reported record sales and long lines of shoppers waiting to…

Juncker, Tsipras speak by phone; latter calls for quick conclusion to 2nd review ahead of debt talks

By N. Bellos EU Commission President Jean-Claude Juncker conveyed his support towards Athens to conclude a second review of the Greek program in the coming period, so that efforts can…

Upwardly revised revenue target for 2016 will need 8.1 bln€ to flow into state coffers by end of year

By T. Tsiros Tax revenues worth 8.1 billion euros must be collected by the finance ministry services over the last two months of 2016 in order achieve the revised, upwards,…

Finance ministry: surplus value tax will again be suspended; 24-mln€ gap in 2017 left in its wake

Finance ministry officials on Thursday quickly clarified that two articles in the revised tax code allowing for the re-imposition of a surplus value tax on property transactions will remain suspended…

Woman, grandson die in fire at refugee ‘hotspot’ on Lesvos

A 60-year-old woman and her five-year-old grandson, identified as Kurds from Iraq, were killed in a fire at the Moria “hotspot” on the eastern Aegean island of Lesvos on Thursday…

Thursday, 24 November 2016

National Bank group returns to profitability over first 9-month period of 2016

National Bank of Greece (NBG)  group returned to profitability over the January-September 2016 period, with after- tax earnings totaling 26 million euros, up from a loss of 1.7 billion euros…

Simitis: Exit from crisis depends on return to growth, EZ developments

Former Greek prime minister Costas Simitis, who held power between 1996 and 2004, is expected to outline his premise that the ongoing and punishing economic crisis in the country has…

Specter of ‘fourth memorandum’ abruptly enters Greek political debate

The usual high-pitched political debate in the country acquired a new wrinkle this week with back-and-forth accusations between the leftist government and center-right main opposition over who is “actually” —…

Prof: Geophysical prospecting shows signs of another smaller monument west at Amphipolis

Archaeologists are now considering the existence of a second monument, smaller than the one already discovered at Amphipolis’ Casta Hill excavation, to the west of the latter and at a…

Multiple airspace violations coincide with Erdogan musings

The latest irredentist-sounding musings this week by Turkish leader Recep Tayyip Erdogan coincided with heightened activity by the Turkish air force in the Aegean region, with 23 violations of Greek…

Parliament’s state budget office presents sober outlook on 2017 budget; bemoans tax policy

Parliament’s state budget office on Thursday offered a more restrained outlook over the draft 2017 budget, which was tabled on Monday by the leftist government, predicting “short-term recessionary trends” that…

Sale of 24% stake in Greece’s power grid operator to Chinese company approved by shareholders

A general shareholders’ meeting of state-run Public Power Corp. (PPC) on Thursday approved the sale of a 24-percent stake in the Independent Power Transmission Operator S.A. (IPTO or ADMIE) to…

Taxes emerging as 2016 ‘success story’; primary budget surplus, other figures above targets

The finance ministry on Thursday reported a primary budget surplus of 6.5 billion euros over the first 10-month period of the year, up from a similar 4.53 billion euros in…

Press attention cancels Fri. meeting of ‘Washington Group’ on possible Greek debt relief

By N. Bellos Press “leaks” apparently tanked Friday’s meeting in Berlin of the informal “Washington Group”, which by all accounts was to have focused on the timely issue of Greek…

Added value tax on property transactions resurfaces in 2017 draft budget

By T. Tsiros While insignificant amid the ongoing and continuing “tax tsunami” that menacingly unfolds in the draft 2017 budget, roughly 24 million euros is booked in the budget from…

Wednesday, 23 November 2016

Second review of Greek program: Fiscal targets, energy and labor reforms remain unresolved

By Nikos Bellos [email protected] Fiscal targets, labor sector liberalization, and energy-related reforms, particularly issues revolving around the dominant electricity provider in the country, state-run Public Power Corp. (PPC), have emphatically emerged…

Moscovici, Coeure in Athens on Mon.

EU Commissioner Pierre Moscovici and ECB Executive Board member Benoit Coeure will be in Athens on Monday to attend an annual economic conference. The conference is organized by the Hellenic-American…

Tax inspectors given right to inspect homes in presence of bailiff; prosecutor’s warrant

Home searches by tax inspectors will now be allowed in Greece in the presence of a court bailiff and following the issuance of a warrant by a relevant prosecutor, a…

Trump-Tsipras phone conversation; Greek PM congratulates US president-elect

Greek Prime Minister Alexis Tsipras on Wednesday spoke by phone with US president-elect Donald Trump, with the former congratulating the Republican candidate for his election victory. According to a press…

Tsipras: Necessary to conclude 2nd review now, in order for debt relief talks to begin

Greek Prime Minister Alexis Tsipras on Wednesday called the rapid conclusion of a second review of the Greek program (third bailout) as both realistic and necessary. His comments, made during…

Calls for ‘political solution’ again surface in Athens, as talks deadlock over labor sector reform

The Tsipras government on Tuesday referred to a “political solution” in order to conclude the increasingly critical second review of the Greek program (third bailout), given that differences between the…

Govt to fill crucial position of privatization fund’s chairman, CEO

The finance ministry’s leadership is aiming to announce a new chairman and CEO for Greece’s all-important privatization fund by Friday, according to reports. Sources have pointed to current board member…

Activity picks up over Greek program, debt relief under scrutiny

The Greek program will come under scrutiny this Friday in Berlin when finance ministers of the informal Washington Group convene in the German capital, a meeting that the relevant Greek…

Tuesday, 22 November 2016

Creditors continue to push for greater liberalization in Greece’s state-dominated energy sector

By S. Zisimou Continued liberalization of Greece’s energy sector, as per memorandum provisions, and especially the natural gas market and the future framework for NOME electricity auctions, dominated negotiations between…

MNI: Despite progress, no second review at Dec. 5 meeting expected

Germany’s MNI news agency on Tuesday said that despite the progress achieved so far, an agreement to conclude the second review of the Greek program (third bailout) is not expected during a…

Self-employed professionals apparently left out of coming framework for out-of-court settlement of arrears, debts

One area where institutional creditors and the Greek government have converged in negotiations over a second review of the Greek program (third bailout) has apparently left out self-employed professionals in…

Central Athens’ 5-star Grande Bretagne, King George in Condé Nast’s best hotels category

Downtown Athens’ iconic Hotel Grande Bretagne has again been included in the “Best Hotels in the World” category by the international travel magazine Condé Nast Traveler, as voted by its…