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Wednesday, 09 November 2016

First Greek reactions to Trump victory in US election

Greek government sources on Wednesday reportedly declared that Athens had “prepared” for either possibility in the US elections, in the wake of a stunning upset by Republican Donald Trump over…

Tuesday, 08 November 2016

Decision for new National Bank president, board again stalled

The latest effort on Tuesday evening to elect a new president and top board members for National Bank of Greece (NBG) again proved fruitless, with the Hellenic Financial Stability Fund…

Greek horse track operator to offer access in French races’ ‘common pool’

Hellas Horse Races S.A., a wholly owned subsidiary of OPAP S.A., the privately held betting and sports pools operator in Greece, on Tuesday announced a partnership agreement with France’s Pari…

Latest poll has ND in front of ruling SYRIZA by 15 percentage points

Results of the latest opinion poll in Greece mirrors the outcome of a series of recent polls in the country, with main opposition New Democracy enjoying a 15-percentage-point lead over…

Greek exports rebound in Sept., still down over 9-month period, yoy

The Greek exporters’ association on Tuesday reported that exports posted a noteworthy increase in September 2016, citing provisional figures by the country’s statistical service, EL.STAT. The value of exports increased…

Athens to push for lower primary budget surplus goals after 2018; review, debt relief come first

By T. Tsiros One of the leftist Greek government’s strategic medium-term goals, as repeatedly enunciated by top ministers over the recent period, is to lower primary budget surplus targets demanded…

Anti-state activists reach US consulate in Thessaloniki to protest Obama visit this month

A group of self-styled anti-state activists held a brief protest on Tuesday in the building housing the US consulate in the northern port city of Thessaloniki, where they tossed pamphlets,…

Dec. 5 Eurogroup crucial for Athens’ debt relief prospects

By N. Bellos The Dec. 5 Eurogroup is shaping up as the pivotal venue for developments leading to Greek debt relief, with several European leaders commenting on the very issue…

Monday, 07 November 2016

Outgoing ministry again raises objections to sale of power utility’s shares

Outgoing energy minister Panos Skourletis on Monday reiterated his opposition to the sale of a 17-percent stake of the Public Power Corp. (PPC), speaking at a ministry handover ceremony. Skourletis,…

EY estimates yearly tax evasion in Greece at between 6 to 9% of GDP

Ernst & Young estimates tax evasion in Greece at between 6 to 9 percent of GDP on an annual basis, a figure it cites and analyzes in a recent report.…

ESM’s Regling: Short-term debt relief proposals for Greece upcoming

The European Stability Mechanism (ESM) will submit its proposals for short-term debt relief measures for Greece at an upcoming EuroWorking Group meeting in late November and during a Eurogroup meeting…

Completing second review of Greek program the foremost priority now for Tsipras govt

Completing the all-important second review of the Greek program (third bailout) amid very tight deadlines until the end of the year is the foremost priority of the reshuffled Cabinet, with…

Aegean Oil picks up fuel contract of consortium building TAP pipeline

Greece-based Aegean Oil has won a two-year contract to provide fuel to the Spiecapag-Aktor consortium, which is tasked with the construction of a major portion of the Trans Adriatic Pipeline…

Analysts: Abolition of cabotage failed to boost Greece cruise sector

When the cabotage regime preventing foreign-flagged cruise ships from easily plying Greek waters was abolished in 2010, primarily due to the advent of the punishing economic crisis, hopes were raised…

Loosened capital controls reportedly fail to lure back billions that fled bank vaults

By A. Doga Roughly six billion euros in “new money” has been “recycled” in Greece’s battered banking system nearly four months after a loosening of capital controls in the country,…

Sale of Thessaloniki Port Authority now the No. 1 priority of new ministry leadership

By A. Tsiblakis & L. Karageorgos The first and most pressing priority on the agenda of new Shipping and Island Policy Minister Panayiotis Kouroumblis is to complete an international tender…

Small centrist party: Creditors will kick Tsipras out in 2017; reforms require a consciously pro-European govt

A small centrist and social democrat-leaning party in Parliament, the Union of Centrists, on Sunday offered its most stinging criticism to date of the embattled leftist Greek government. The prickly…

Cash registers, POS terminals still offline with tax bureau’s server

By G. Palaitsakis Changes in the legal framework and a ministerial decision apparently aren’t enough to commence the obligatory online transfer of data from practically all types of electronic transactions…

Sunday, 06 November 2016

Greek program on agenda at Eurogroup meeting on Mon.

Ongoing negotiations over a second review of the Greek program (third bailout) as well as a pending report by the EU Commission’s Structural Reform Support Service (SRSS) are on the agenda…

ND given 6.4-percentage point over ruling SYRIZA in latest poll

Main opposition New Democracy (ND) party is given a 6.4-percentage point lead over ruling leftist SYRIZA party, with ND leader Kyriakos Mitsotakis deemed as the most suitable to handle negotiations…

Tsipras appears confident negotiations with creditors will conclude on time; massive new Cabinet convenes

Τhe new members of the Cabinet were sworn in on Sunday after Friday’s late evening reshuffle, a more-or-less expected political development in the Greek capital amid an increasingly tenuous period…

OECD: Slashing 356 state regulations will free up Greek market competition, generate 414mln€ in annual benefits

A report by the Organisation for Economic Co-operation and Development (OECD) calculates a benefit of 414 million euros for the Greek economy on an annual basis if no less than…

Saturday, 05 November 2016

Greek executive Andreas Vgenopoulos, 63, passes away

Well-known Greek businessman and investor Andreas Vgenopoulos died in the early morning hours of Saturday from an apparent heart attack. He was 63. Vgenopoulos founded the MIG investment group, which…

Greek govt reshuffle mostly shifts around ministers; diehard leftists switched

Greek Prime Minister Alexis Tsipras waited until Friday evening to announce a long-expected Cabinet reshuffle for this embattled leftist government, with a handful of ministers trading portfolios, and at least…

Friday, 04 November 2016

Govt, BoG continue to wager on near 3% GDP growth forecast for 2017

Greek ministers and the BoG governor this week underlined that forecasts for Greek GDP growth in 2017 will approach the very robust — by Greek standards — figure of 3…

Moscovici blames Varoufakis for losing Greece six ‘valuable’ months in 2015; refers to ‘narcissist’

EU Commission Pierre Moscovici didn’t mince his words this week in describing former Greek finance minister Yanis Varoufakis as a “irrepressible narcissist” that “cannibalized” negotiations between Athens and its institutional…

New leadership for NBG pending after board fails to support HFSF proposal

Election of a new president and several top executives for National Bank of Greece (NBG) was derailed this week during an unprecedented, by Greek standards, failure to agree on a…

‘Crunch time’ until end of the year for 2nd review, possible Greek debt relief

By N. Bellos Remaining negotiations and decision-making summits scheduled until the end of the year are crucial for Athens’ hopes of receiving some form of debt relief and concluding a…

Thursday, 03 November 2016

BoG Gov. stands by forecasts of 2.5%, 3% GDP growth in 2017 and 2018, respectively

Bank of Greece (BoG) Gov. Yannis Stournaras called Greece’s fiscal adjustment over recent years as “unprecedented”, speaking on Thursday during a Euro-Arab summit in the Greek capital. Stournaras, a former…

October 2016 revenue figures add to ‘cushion’ in terms of annual target

By G. Kouros A positive result in terms of state revenues is forecast by the finance ministry for October 2016, which if proved correct will mean that targets continue to…