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Thursday, 26 May 2016

Greek archaeologists say they’ve pinpointed Aristotle’s honored tomb, monument

Archaeologists in the northern city of Thessaloniki on Thursday are expected to announce that they have pinpointed the tomb of one of Classical antiquity’s pre-eminent philosophers, none other than Aristotle.…

Top aide to Iranian supreme leader: Independent Kurdish state in Mideast not viable

By G. D. Pavlopoulos The head of international relations for Iranian supreme leader Ayatollah Ali Khamenei told “N” this week that Tehran is against the declaration of an autonomous Kurdish…

Creditors insist on NPLs changes, privatizations before first loan installment disbursed

A bevy of open issues remain unresolved in the wake of Tuesday’s approval by the Eurogroup of the first review for the Greek program, particularly in terms of a much…

Govt: Income tax deductible through e-transactions

The government is eying changes to the income tax code to allow for greater deductions based on electronic transactions – as opposed to cash purchase receipts – as well as…

Saving Greece: A never ending story?

By Klaus Schrader, David Benček, Claus-Friedrich-Laaser Kiel Institute for the World Economy, IfW In 2014, there was evidence that Greece’s economic situation would take a turn for the better for the first…

Wednesday, 25 May 2016

Merkel-Mitsotakis meeting in Luxembourg on Mon.

Main opposition New Democracy (ND) leader Kyriakos Mitsotakis is scheduled to meet with German Chancellor Angela Merkel on Monday, on the sidelines of a European Peoples Party (EPP) event in…

Brexit: In or Out?

Two British analysts answer Naftemporiki’s question: Should Britain leave the EU? By Vassilis Kostoulas [email protected] @VasKostoulas Britain should not leave the EU – it should lead the EU By Edward Douglas …

Pilot program granting tourist visas on Greek isles for visitors arriving from Turkey extended

A pilot program that allows for the issuance of tourist visas for tourists arriving from Turkey on several eastern Aegean islands has been extended for another year. The islands of…

Lonely Planet ranks the Peloponnese as top European destination for 2016

The Lonely Planet website this week ranked the Peloponnese, Greece’s southern-most mainland province, as its top European destination for 2016. The iconic print and Internet travel group describes the Peloponnese…

Greek finance ministry now tasked with collecting 31.5 bln€ between May-Dec

Greece’s finance ministry now takes center stage in the wake of Tuesday’s late-night approval of the first review of the Greek program, with the goal none other than meeting fiscal…

Domestic lenders eye first benefits from Eurogroup review of Greek program

By A. Doga Potential benefits of between 400 and 500 million euros per year for Greece’s battered banking sector is one result that is expected from the first review of…

Prior actions before disbursement of 2 loan doses; Greek debt relief ‘road map’ attached to first review completion

By N. Bellos A delayed first review of the Greek program (third bailout) was finally concluded after yet another all-night session at the Eurogroup in Brussels, with the highlights being…

Eurogroup statement on Greece

The Eurogroup welcomes that a full staff-level agreement has been reached between Greece and the institutions. Also, the Eurogroup notes with satisfaction that the Greek authorities and the European institutions…

Tuesday, 24 May 2016

Former central banker pessimistic over end to Greek crisis

Former of Bank of Greece (BoG) governor Giorgos Provopoulos on Tuesday warned that he still doesn’t see the “light at the end of the tunnel”, referring to the ongoing Greek…

DM Kammenos laments VAT hike for islands, 48 hours after voting for measure

Greek Defence Minister Panos Kammenos generated a firestorm of political controversy on Tuesday with a statement from the island of Syros, where he said, among others, that a recent increase…

Energean unveils 60-mln€ plan to use land-based drilling for Katakolo deposit

Greece-based Energean Oil & Gas has unveiled a hydrocarbons exploitation plan of up to 60 million euros to exploit a deposit off southwest mainland Greece, at the Katakolo site. The…

Eurobank: Q1 recession due to lower consumption, exports, labor productivity

A weekly review of the Greek economy by domestic lender Eurobank cites lower private consumption, exports and labor productivity as the reasons behind the re-emergence of a recessionary trend in…

Institutional lenders reportedly ask for clarifications over new ‘solidarity fund’ announced by Tsipras

By D. Hatzinikolas Institutional lenders have reportedly asked the leftist Greek government for clarifications regarding the creation of a so-called “social solidarity fund”, which was announced by the Greek prime…

Expected evacuation of makeshift refugee camp at Idomeni begins

A long-expected evacuation of a makeshift refugee camp at the Idomeni site on Greece’s northern border began on Tuesday, with the first of 600 third country nationals transported out of…

ΙMF presses for generous Greek debt relief, pointing out figures extending to 2060

The Eurogroup meeting on Tuesday in Brussels will, by all accounts, sign off on the first review of the Greek program (third bailout) and unblock up to 10 billion euros…

First signs show increase in German tourists in Greece for 2016, at Turkey’s and Egypt’s expense

Greek tourism is apparently the beneficiary of fewer reservations by German tourists in the rival markets of Turkey and Egypt this season, according to a Bank of Greece (BoG) study…

Monday, 23 May 2016

Putin in Greece this week; visit to Mt. Athos scheduled

Russian President Vladimir Putin will visit Greece this week, his first trip to an EU country in more than a year. The powerful Russian head of state will meet with…

Tsipras complains of lack of progress in refugee relocations to Europe

Greek Prime Minister Alexis Tsipras on Monday, speaking from Istanbul, said progress in legally relocating thousands of Mideast refugees throughout Europe has been “extremely” sluggish. Tsipras was in the Bosporus…

National Bank, top Israeli hi-tech group announced joint program for Greek entrepreneurs

National Bank and the Israeli embassy in Athens announced a new program to advise Greek entrepreneurs, with the initiative set to begin on June 1. The program is part of…

Another group of regional airports reportedly head for privatization fund; Interest growing over Kalamata facility

The Greek government is reportedly examining the possibility of a second wave of privatizations for regional airports around the country, following the signing of an agreement earlier in the year…

Last-minute changes show possible budget ‘hole’ of 700 mln€ in 2017

The latest painful batch of austerity measures, passed by a slim majority of Parliament MPs on Sunday evening, may still not completely cover memorandum-mandated fiscal targets, with a “hole” of…

Framework announced for non-performing loan holding companies

A voluminous tax bill passed by the government majority on Sunday evening includes stipulations for the operation of companies managing non-performing loans in Greece, with the firms coming under an…

Sunday, 22 May 2016

Tax, privatization fund bill passes in parliament by 3 votes; austerity package now complete

An omnibus bill loaded with indirect tax hikes and legislation creating a “supra privatization fund” was passed by the coalition government majority on Sunday, with 153 deputies in the 300-MP…

Two unpopular measures removed from tax-laden bill; Tsipras, Mitsotakis ‘cross swords’ in Parliament

The government took two, albeit small, steps back from a tax-laden draft bill over the weekend that completes a 5.4-billion-euro package of austerity measures aimed at meeting memorandum fiscal targets…

Govt scrambles to find off-set measures after tabling amendment freezing special categories wage scales

The leftist Greek government was scrambling on Sunday to find “off-set” measures after tabling an amendment on Friday freezing so-called “special wage” categories in the wider public sector until 2018,…