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Monday, 19 December 2016

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.…

BoG report on monetary policy: Continue program reforms towards economic recovery

The Bank of Greece (BoG) on Friday released its interim report for monetary policy in 2016, as per its institutional obligation, with its primary message being a continuation of memorandum-mandated…

Thursday, 15 December 2016

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…

Varoufakis: Tsipras has taken path that will not end well

Contentious former Greek minister Yianis Varoufakis struck again this week from Athens, grimly predicting that his former political ally, Greek Prime Minister Alexis Tsipras, faces a bleak future. “The path…

ESM official: ‘Holiday bonus’ raises concerns over MoU; not expected to affect forthcoming fiscal targets

A European Stability Mechanism (ESM) spokesman on Thursday warned that last week’s abrupt “holiday bonus” announced by the Greek prime minister raises concerns over Athens’ bailout commitments, while nevertheless adding…

‘Holiday bonus’ to pensioners easily passed in Parliament

A decision to give some 1.6 million pensioners a “holiday bonus” worth 617 million euros was easily ratified by Parliament MPs on Thursday afternoon, with 196 deputies voting in favor…

Greek FinMin: No decision by Eurogroup over ‘freeze’ of short-term debt relief

The Eurogroup, i.e. Eurozone member-states’ finance ministers, has not taken any decision regarding a freezing of short-term debt relief measures for Greece, Greek FinMin Euclid Tsakalotos told reporters in Berlin…

City of Athens, Aegean and Airport team up to better promote Greek capital

The Athens Tourism Partnership (ΑΤΡ), an initiative aimed to better promote tourism in the Greek capital, was presented on Thursday by Athens Mayor Giorgos Kaminis at City Hall. The municipality…

Reports: Moscovici points to ‘sole’ opposition for Tsipras’ ‘holiday bonus’ by creditors

Greek Prime Minister Alexis Tsipras met with European Commissioner Pierre Moscovici on the sidelines of a Party of European Socialists (PES) summit in Brussels on Thursday, with reports attributed to…

Political sniping continues over controversial ‘holiday bonus’ to pensioners; ND not expected to approve

Main opposition New Democracy (ND) party’s deputies in Parliament will vote “present” in Thursday’s role call vote for a one-off holiday bonus announced last week by the Greek premier for…

2016 budget execution nears successful completion; revenue targets exceeded

Greece’s tax-laden 2016 state budget is nearing a successful completion, with only 3.3 billion euros remaining to be collected over the last month of the year to meet annual revenue…

Wednesday, 14 December 2016

Ruling party to ask for roll-call vote on ‘holiday bonus’ to pensioners

Ruling SYRIZA party will request a roll call vote on Thursday for a one-off bonus to 1.6 million pensioners in Greece, a procedure viewed as trying to “corner” the political…

Piraeus Bank CEO appointment issue postponed to Fri.; ESM intervenes in process

By A. Doga Decisions regarding appointments for Athens-based systemic lender Piraeus Bank’s top management have been bumped to Friday.  On Wednesday afternoon a board of directors meeting was interrupted so…

Sources to “N”: Athens to lobby for IMF exit from Greek program

The embattled Tsipras government is experiencing another «Quo Vadis» moment this week, with the Greek prime minister expected to request from German Chancellor Angela Merkel that the IMF completely exit…