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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…

Sunday, 04 December 2016

Steinmeier: No European crisis has left Greece untouched in recent years

“No European crisis has left Greece untouched in recent years”, visiting German Foreign Minister Frank-Walter Steinmeier said in Thessaloniki on Sunday, while inaugurating the exhibition “Fragmented Memories 1940-1950”, at the…

Stinging criticism by composer Mikis Theodorakis against Greek PM Tsipras

Greek Prime Minister Alexis Tsipras was again the target of stinging criticism over the weekend, although this time the source of ridicule was none other than well-known Greek composer Mikis…

Greek armed forces’ real estate assets assessed at 33 billion euros

Fixed assets belonging to Greece’s armed forces are valued at 33 billion euros, with 25 percent available for “immediate exploitation”, according to the head of a specially created subsidiary to…

Saturday, 03 December 2016

German FM in Greece on Sun, Mon

German Foreign Minister Frank-Walter Steinmeier arrives on Sunday in Athens for a two-day visit, with several meetings with Greek leadership planned, including with Prime Minister Alexis Tsipras and main opposition…

Karazian again strikes on over Greek debt, claims it’s 60% lower than calcuated

Well-known US investor and financier Paul Karazian once again re-entered the Greek debt fray with a “bang” over the weekend insisting that his calculations of the country’s debt-to-GDP ratio is…

Friday, 02 December 2016

Govt source: Little chance of deal at Monday’s Eurogroup; creditors want measures for 2019, 2020

An unnamed government official referred to “limited” chances of an agreement at Monday’s Eurogroup meeting to conclude the second review of the Greek program, charging that the leftist Greek government…

Report: First license granted to company for managing ‘bad debt’ portfolio

The first license granted to a private firm to manage “bad debt” portfolios in the country was reportedly granted on Friday to Aktua Hellas, a joint venture established by Spain-based…

Athens: Turkey needs to decide whether or not it respects int’l law

A Greek foreign ministry spokesperson on Friday responded to the latest provocation emanating from official Ankara, as Turkish leadership has unveiled an old-styled “nationalist card” in its policy mix over…

Retroactive cuts in high-end pensions until 2019: circular

A twin “haircut”, retroactive as of July 2016, has been imposed on primary pensions of more than 2,000 euros a month and cumulative social security benefits exceeding 3,000 euros a…

German FinMin spox confirms ESM proposals on short-term Greek debt relief

A German Finance Ministry spokesman on Friday confirmed a WSJ report this week reporting a European Stability Mechanism (ESM) document citing various short-term measures for Greek debt relief, mostly measures…

Study: Starting new business costs double in Greece than European average

By S. Zisimos Business activity in Greece remains plagued by sluggish state services, high taxes, red tape and even corruption, a report by the Foundation for Economic & Industrial Research…

Thursday, 01 December 2016

Distinguished Israeli architect Haim Dotan in Athens this week

Renowned Israeli architect, academic and poet Haim Dotan is in Greece this week until Friday, as he arrived to address an Economist Conference entitled “The Sustainability Summit for southeast Europe and the…