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Wednesday, 27 April 2016

Govt says agreement on NPLs achieved with lenders

By Stamatis Zisimos A temporary exclusion of non-performing loans linked to mortgages or liens for primary residences from being sold to distress funds is reportedly the result of months of…

Economic, political uncertainty again plague Greece as negotiations with lenders break off

A new deadline for achieving the first, and now elusive, review of the Greek program was bumped back after May 1 as talks in Athens this past week between the…

Tuesday, 26 April 2016

Deportations of irregular migrants expected to pick up after Orthodox Easter

A total of 17 foreign nationals from Pakistan and North African countries were deported to Turkey on Tuesday, with vessels carrying the undocumented migrants from the islands of Chios and…

Tsipras to request Euro summit on Greek issue, as negotiations falter between Athens, creditors

Greek Prime Minister Alexis Tsipras will reportedly phone European Council President Donald Tusk on Wednesday morning to request the immediate holding of a Euro summit, with sources in Athens saying…

Eurogroup spokesman: No session on Thur. for Greek program; more time needed

No extraordinary Eurogroup meeting will be held on Thursday to consider the Greek program, with a spokesman for Eurogroup chairman Jeroen Dijsselbloem making a relevant announcement, via a Tweet, on Tuesday evening.…

Refugees, undocumented migrants riot at temporary shelter on Lesvos

Mideast refugees and undocumented third country nationals set up roadblocks and lit fires inside and outside a temporary shelter on the eastern Aegean island of Lesvos (Lesbos) in protest over…

Labor minister defends memorandum-mandated pension reforms, higher contributions

The government on Tuesday attempted to deflect spirited criticism of a draft bill it submitted to Parliament this week on third memorandum-mandated pension reforms, speaking before a relevant committee of…

Athens to reportedly offer law envisioning ‘automatic’ measures, but linked to statistical reports in spring 2017, 2018‏

The Greek government on Tuesday reportedly tabled a “compromise” with institutional creditors in order to avoid legislating a 3.6-billion-euro “contingency package”, promising to instead submit a draft bill that mandates…

German media: Greek FinMin contemplating resignation; situation resembles summer of 2015

German media turned their attention to the resurfaced “Greek issue” this week as yet another round of negotiations between the leftist Greek government and lenders’ representatives continued in Athens under…

Monday, 25 April 2016

Jordan’s Queen Rania tours refugee center on Lesvos

The wife of the Jordanian monarch, Queen Rania, visited the eastern Aegean island of Lesvos (Lesbos) on Monday and toured a temporary refugee shelter at the Kara Tepe site on…

Industrial action by German airport employees on Wed.

Labor unions in Germany representing airport employees of several companies have called for a pre-emptive strike on Wednesday, April 27, from 4.30 a.m. until 3 p.m. (local times). The industrial…

Prospect of ‘contingency package’ bedevilling Greek govt, as talks over first review continue

Negotiations continued on Monday between representatives of institutional creditors and Greek government officials to finalize measures in a 5.4-billion-euro package until 2018, while a mini Cabinet meeting took place in…

Sunday, 24 April 2016

ND unveils 25 proposals to boost competitiveness, innovation and growth in Greece

Not five or 10 but 25 proposals were unveiled by main opposition New Democracy (ND) party on Sunday during the closing of its 10th convention, what the center-right party called…

Easter Week in Greece to witness ‘make or break’ negotiations with lenders

Negotiations again resume on Sunday between top government officials and representatives of Greece’s institutional creditors, with the Greek side, at least, aiming at a conclusion by Thursday. The latest chapter…

Mitsotakis: Tsipras, his coterie must leave as soon as possible

Main opposition New Democracy (ND) leader Kyriakos Mitsotakis on Sunday reiterated his call for Prime Minister Alexis Tsipras and “his coterie” to step down as soon as possible, essentially calling…

Greek bourse counts its huge losses on 6th anniversary of first bailout’s announcement

The sixth anniversary of the grim announcement that Greece will seek an IMF bailout, made on April 23, 2010 from the remote isle of Kastellorizo by then Greek PM George Papandreou, has…

Progress of ‘twin package’ negotiations this week will determine whether Athens gets creditors’ first review

By Nikos Bellos Concluding negotiations for two separate packages, the “well-known” 5.4-billion-euro mix of tax hikes and supplementary pension cuts, and the recently emerged “contingency package” of 3.6 billion euros,…

Latest headache for Athens will be to find 3.6 bln€ in ‘contingency package’ measures; critics cite ‘4th memorandum’

Creditors’ latest demand for a “contingency package” worth 3.6 billion euros in case Athens fails to meet primary budget surplus targets through 2018 will reportedly be comprised of projected tax…

Talks to resume between privatization fund, Canadian investor for Athens airport lease extension

Fanis Zois Talks have begun between the Greek state’s privatization fund (TAIPED) and the Canadian pension fund PSP for a 20- extension of the concession lease for the Eleftherios Venizelos…

Saturday, 23 April 2016

Greek FM meets with counterparts from fYRoM, Albania in Thessaloniki

Greek Foreign Minister Nikos Kotzias met separately on Friday with his counterparts from the former Yugoslav Republic of Macedonia (fYRoM) and Albania, Nikola Poposki and Ditmir Bushati, respectively, on the…

Draft bill envisioning pension cuts, income tax hikes submitted to Parliament

The government on Friday submitted a pension reform bill to Parliament, under the title of “Unified System for Social Security – Pension Social Security Reform – Measures for income tax…

Athens scrambles to find alternative to creditors’ demand for legislated ‘contingency’ measures

By Dimitris Hatzinikolas The Greek government on Saturday scrambled to find a compromise to institutional lenders’ demand for a contingency package in case current measures don’t reach primary budget surplus…

FinMin says Athens can’t table ‘conditional measures’ to meet creditors’ demands

Greek Finance Minister Euclid Tsakalotos on Friday tried to fend off the most recent demands by Athens’ institutional creditors by saying that Greek law does not foresee “conditional measures”, referring…

Greek opposition leader: SYRIZA govt worst since restoration of democracy

Main opposition New Democracy (ND) leader Kyriakos Mitsotakis on Friday warned that the situation in the country was “getting worse every day”, speaking at his party’s 10th delegates’ conference and…

Labor minister: Supplementary pensions the biggest obstacle in agreement between Athens, creditors

The level of cuts to supplementary pensions continues to be the biggest obstacle in negotiations between Athens and institutional creditors, relevant Labor Minister Giorgos Katrougalos admitted on Wednesday evening after…

Thursday, 21 April 2016

“N” Interview: EU Commissioner Thyssen focuses on Greek employment sector, reforms and growth stimulus

The EU’s relevant Commissioner warned that there are “no quick-fix solutions” to quickly reducing joblessness in “hardest hit” Greece, as she admitted, while nevertheless pointing out that the Commission foresees…

Wednesday, 20 April 2016

Fully renovated Kythira archaeological museum to reopen after 9 years

The archaeological museum on the iconic southwest Aegean island of Kythira will finally open its doors next month after nine years, featuring a fully renovated interior and modern exhibition space.…

GfK: Economic climate in Greece plummets in Q1 2016 due to refugee crisis; political uncertainty

The economic climate in Greece drastically fell in the first quarter of 2016 due to the refugee crisis and political uncertainty, results of a survey by GfK revealed on Wednesday.…

Top EZ official: Progress in Greek program negotiations could mean unscheduled Eurogroup session

By Nikos Bellos Progress in talks over the “next few hours” as well as results from Friday’s Eurogroup meeting in Amsterdam will determine whether or not an extraordinary session of…

Govt source claims indirect tax hike package concluded with lenders

The Greek government has achieved approval of roughly one-third of a package of measures to meet creditors’ demands for primary budget surpluses, as a percentage of GDP, by 2018, with…