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Wednesday, 23 March 2016

Govt official: IMF constantly disputing Greek figures; Fund behind delay in review

The latest criticism aimed directly at the IMF by a high-ranking Greek government official came on Wednesday, with the head of fiscal policy charging that the Fund is consistently questioning…

Taxes, contributions expected to tank Greek business competitiveness

Greece now appears as a “world champion” in terms of taxes and contributions, an ominous distinction that will downgrades the country’s business competitiveness indexes, following a new package of increases…

Greek FinMin confident first review with creditors by April 22

Greek Finance Minister Euclid Tsakalotos on Tuesday reiterated that he believes the first review of the Greek program (third bailout) will be achieved by April 22. Speaking in Parliament, Tsakalotos…

Govt OKs processing unit for Hellas Gold mining concession in Olympiada

The relevant environment and energy ministry this week approved a license to allow operation of new electro-mechanical infrastructure at the Olympiada mining site in northern Greece. The site is operated…

Up to 21K businesses in Greece could close in next 6 months

The organization representing small-to-medium sized business owners in Greece cited a return to the dire economic situation of 2012, in its half-year report, which was released on Tuesday. The first…

Tuesday, 22 March 2016

World congress ‘Aristotle 2400 Year’ this May in northern Greece

The world congress “Aristotle 2400 Years” will be held in late May in the northern city of Thessaloniki, as well as the ancient sites of Stageira, the philosopher’s birthplace and…

Exports agency unveils campaign to promote Greek wines

The state-run Enterprise Greece promotional agency will inaugurate a new campaign to market and promote Greek wines abroad, in selected targeted markets.   Most of the initiatives will target markets…

Security stepped up at Athens airport

Greek authorities ordered stepped up security measures at the Athens International Airport on Tuesday in the wake of the deadly twin bombing attacks earlier in the day in Brussels. Special…

Merkel-Tsipras telephone contacts on refugee crisis, agreement with Turkey

Greek Prime Minister Alexis Tsipras spoke by phone on Tuesday with German Chancellor Angela Merkel, with implementation of a recent EU-Turkey agreement to solve the ongoing refugee crisis dominating the…

Deadlines pressing for completing first review of Greek program

By Nikos Bellos Brussels Despite positive comments by European leaders over the recent period, mostly citing progress in talks between the Greek government and institutional creditors, the so-called “quartet”, differences…

Subsidized job program for jobless people over 50 begins this month

A subsidized employment program for jobless people over the age of 50 begins this month, with the goal of covering 15,000 job spots for a 12-month period. The program, run…

Re-evaluation of objective tax criteria pending

The government will proceed with a re-evaluation of real estate objective criteria so that by Jan. 1, 2017 the rates used by the state to tax property are based more…

Monday, 21 March 2016

Cosmopolitan Spetses to serve as backdrop for classic car rally

The spring rally of classic automobiles will again conclude on the verdant Saronic island Spetses this year, with special circuits following the picturesque mountainous routes from the Isthmus of Corinth…

FIFA wants Greek Cup tournament to resume; sanctions threatened

The world football federation (FIFA) is reportedly pressing for a resumption in the Greek cup tournament, which was postponed indefinitely two weeks ago by a relevant sports deputy minister after…

BoG Gov Stournaras: Memorandums didn’t cause Greek crisis; massive budget deficits to blame

The severe economic crisis in Greece was not caused by the memorandums, but by “unjustifiable fiscal policy”, Bank of Greece (BoG) governor Yannis Stournaras said on Monday, addressing a political…

Is Greece’s public debt a barrier for attracting investments, allowing recovery?

By Vassilis Kostoulas [email protected] @VasKostoulas   The latest theme repeated by the Greek government over the recent period, amid in its often thorny negotiations with international creditors, is that without…

Gov’t: 50K war refugees, other migrants now in Greece

A total of 50,411 refugees and newly arrived migrants are currently in Greece, according to official figures released on Monday by the Greek government. Of those, nearly 14,000 remain in…

Industrial turnover drops in Jan. 2016

Industrial turnover in January 2016 dropped by 13.3 percent in Greece, yoy, while over the first two-month period of the year the figure was -10.3 percent. The biggest drop in…

Athens again says agreement with creditors coming soon

The Greek government believes it is on track to achieve the first review of the Greek program (third bailout) within the coming period, with a high-ranking meeting held on Monday…

Bank federation head: No chance of ‘haircut’ on bank deposits

The president of the board of the Hellenic Banks Federation – the group that represents systemic banks in the country – again went on record this week to preclude the…

April 11 now the target for completing first review of Greek program

Τhe Greek government is cultivating hopes that a completion of the closely watched first review of the Greek program (the third bailout) will be achieved by April 11, following the…

Govt, creditors nearing agreement on pension reforms

Talks between the Greek government and the “quartet” of institutional creditors on the thorny issue of pension reform have recorded convergences but also remaining differences, with one report citing that…

Hefty tax hikes for incomes above 20K; highest bracket at 45%

Tax hikes foreseen by Greek government to cover fiscal gaps, as demanded by creditors, will reportedly include an increase in the lowest income tax co-efficient to 22.5 percent from the…

Saturday, 19 March 2016

Athens focused on implementing EU-Turkey agreement on refugee crisis

A cabinet meeting, chaired by Greek Prime Minister Alexis Tsipras, focusing directly on implementing this week’s EU-Turkey agreement on dealing with the ongoing refugee / migrant crisis was concluded on…

Greek farmers who pocketed 215 mln € in wrongly allocated aid in 2008-9 must return cash

A ministerial decision is expected within days to outline the process for returning controversial farm subsidies given by a Greek government beginning in 2008, the so-called “Hatzigakis package”, named after…

High Court upholds cutbacks in Greek civil servants’ lump sum payments

Greece’s Council of State, the country’s highest administrative court, has ruled that cuts to civil servants’ lump sum pension payments – a bonus usually paid upon retirement – were legal.…

Greek govt’s proposal to creditors worth 2 bln € in tax hikes

Greek taxpayers in the so-called “middle” and “upper” tax brackets are expected to dig even deeper into their pockets this year, as the government in Athens mostly based its ideas…

Friday, 18 March 2016

EU – Turkey statement 18 March 2016

Today the Members of the European Council met with their Turkish counterpart. This was the third meeting since November 2015 dedicated to deepening Turkey-EU relations as well as addressing the…

Lafarge concludes purchase of cement maker AGET Heracles

Lafarge Cementos on Friday concluded, as expected, its purchase of AGET Heracles’ common shares, giving the former 71,082,707 shares of the south-central Greek cement and concrete manufacturer, i.e. or 100…

European Council conclusions

I. MIGRATION 1.  The European Council confirms its comprehensive strategy to tackle the migration crisis. Several elements of our common European response are in place today and are yielding results.…