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Wednesday, 11 May 2016

New private train route to connect port with ancient Olympia this summer

Cruise ship vacationers visiting the ancient Olympia archaeological site in the northwest Peloponnese will be able to reach the area via a special tourist train running from the port of…

Carnival to home port cruise ship for 2016 in Piraeus

By Antonis Tsiblakis Carnival, the world’s largest cruise ship operator, has designated Piraeus as a home port for the coming summer season for its “Carnival Vista” vessel, a move seen…

Refugee policies should be financed by environmental taxes and borrowing

Op-ed by Bruegel Director Guntram Wolff for Naftemporiki As countries are struggling to implement the EU-Turkey deal on refugees, the debate on how to finance EU migration policy is heating…

Mood in Brussels now optimistic over final agreement between Athens, creditors

The mood in Brussels on Tuesday over the course of the Greek program was satisfaction and optimism that a final agreement will be achieved by May 24 to allow a…

One-month extension again bars resale of NPLs, as sector liberalization looms

The government on Tuesday announced another one-month moratorium, extending to June 15, for the resale of non-performing loans to distress funds, with a relevant amendment submitted to Parliament. The amendment…

Tuesday, 10 May 2016

Deflation continues for 38th consecutive month in Greece

The inflation rate in Greece fell for the 38th consecutive month in April 2016, according to figures released on Tuesday by the Greek statistical service (EL.Stat). The general consumer price…

ICAP: Despite small increase in turnover, 2014 still loss-making for 40 biggest Greek companies

Greece’s 40 biggest companies reported a loss-making year in 2014, on average, despite a marginal increase in turnover, according to the latest study released by the Athens-based ICAP group. The…

Fighting breaks out at makeshift Idomeni refugee camp

Fighting amongst third country nationals still camped out at a makeshift shelter in extreme northern Greece on the border with the Former Yugoslav Republic of Macedonia (fYRoM) broke out on…

Tsipras briefs political leaders, president over results of Eurogroup

Greek Prime Minister Alexis Tsipras briefed President Prokopis Pavlopoulos on Monday evening over the conclusions of a same-day Eurogroup meeting in Brussels, where the former said the long-delayed first review…

NPLs, indirect taxes and privatization fund next measures ahead of final deal at May 24 Eurogroup

Final decisions by institutions lenders over the Greek program have now been left for the upcoming Eurogroup meeting of May 24, although Monday’s extraordinary session signed off on an “automatic”…

Monday, 09 May 2016

May 24 the next milestone for achieving deal between Athens, lenders

European Commission Vice President Valdis Dombrovskis on Monday said Greece and its lenders are likely to reach an agreement “within days” to finally achieve a first review of the Greek…

Eurogroup statement on Greece

The Eurogroup welcomes the completion of a policy package, which should pave the way for a successful completion of the first review of the ESM programme, upon the adoption of…

ND: Greek debt sustainability analysis worsened after leftist govt took over

Main opposition New Democracy (ND) party continued to step up its criticism of the leftist SYRIZA government this week, charging on Monday that the Greek public debt’s sustainability parameters worsened…

Outstanding state debt to private sector at 5.57 bln€ in March, slightly up from Feb.

State arrears towards the private sector increased to 5.575 billion euros in March 2016, up from 5.4 billion euros in the previous month of February, according to general government figures…

Greek sources: deal on 5.4 bln€ package OK’d by creditors

By Nikos Bellos Greek sources on Monday, ahead of an extraordinary Eurogroup meeting in Brussels, claimed that a 5.4-billion-euro tax and pension reform package has already received the “green light”…

Eurogroup aims to record progress on Greek issue, with May 24 a new unofficial deadline

By Nikos Bellos The Greek issue will again dominate another Eurogroup meeting in Brussels, with an extraordinary session set for Monday to ascertain progress for the now increasingly delayed first…

Greek foreign debt expected to total 180% of GDP by end of 2016

By all estimates Greece’s foreign debt will reach 180 percent of GDP (320 billion euros) by the end of the year, assuming that scheduled loans from institutional creditors, worth 10…

Athens to press debt relief issue at Eurogroup after passing latest austerity measures

By Thanos Tsiros The Greek government is expected to officially submit its request for debt relief during Monday’s crucial Eurogroup meeting in Brussels, less than 24 hours after passing another…

Tax, pension reform bills passed; taxpayers to feel the ‘bite’ on June 1

Most tax hikes approved on Sunday evening in a closely watched vote in Greece’s Parliament are set for activation as soon as the end of the month, as the leftist…

Sunday, 08 May 2016

Greek govt refers to ‘agreement in principle’ with creditors; also cites ‘mechanism’ for automatic cuts

The government on Sunday evening referred to an agreement, in principle, with creditors over various issues repeatedly discussed in negotiations to conclude a first review of the Greek program, in…

Pavlopoulos on fYRoM ‘veto’

Greek president Prokopis Pavlopoulos on Sunday, speaking from northern Greece, reminded that Athens’ veto towards the ΝΑΤΟ and EU accession course of the neighboring former Yugoslav Republic of Macedonia (fYRoM)…

Rioting by small group of youths mostly breaks up protest rally outside Greek parliament

A large protest rally outside the Greek Parliament on Sunday afternoon was mostly broken up after a group of unknown persons threw firebombs, flares and rocks towards nearby riot police,…

Saturday, 07 May 2016

European creditors circulate contingency package MoU ahead of Eurogroup meeting

Greece’s European creditors have circulated a draft MoU that refers to “additional austerity steps” in case the Greek government fails to meet memorandum-mandated targets until 2018, namely, primary budget surplus…

Supplemental Memorandum of Understanding

Supplemental Memorandum of Understanding [draft]   1.         Outlook and strategy In July 2015, Greece requested support from its European partners, to restore sustainable growth, create jobs, reduce inequalities, and…

Last-minute amendment to tax bill lowers tax-free annual income ceiling

A last-minute amendment attached to a draft bill that includes mostly tax hikes slashes the tax-free ceiling for annual income earned by unmarried taxpayers and couples without children, as well…

Friday, 06 May 2016

Harsh opposition reaction to Tsipras’ address

Opposition reaction to Greek Prime Minister Alexis Tsipras’ address before his party’s Parliament group members on Friday was swift and severe, as the weekend looms as pivotal for the leftist…

Tsipras defends pension reform as political tension mounts

Greek Prime Minister Alexis Tsipras told his party’s deputies on Friday that he believes “a large plurality” of citizens in the country acknowledge his government’s “sincere effort” on various fronts,…

Thursday, 05 May 2016

Media strike in Greece as critical pension reform, tax bills up for Parliament debate

Greece’s two main journalists unions, the nationwide umbrella organization (POESY) and the more influential Athens Journalists’ Union (ESEIA), on Thursday called for a 48-hour strike to commence on Friday morning…

Coalition MP first claims govt behind IMF wikileak, then charges comments were misunderstood

A deputy of the government’s rightist coalition partner on Thursday created a stir in Parliament when he initially claimed that it was the leftist Greek government that had wire-tapped a…

Ocean Rig purchases drillship ‘Cerrado’ for 65 mln euros

The Ocean Rig firm, controlled by the Giorgos Economou family, has purchased the drill ship “Cerrado” for 65 million euros. The vessel was built in 2011 by Samsung Heavy Industries…