Keep Talking Greece » Blog Archive » What’s up in Greece on February 28?

tagged: Athens Stock Exchange, earthquake, facts, february 28 2011, Greece, grieving dog Elefsina, H1N1, medication shortage, new austerity measure, pharmacists, public transport

What’s up in Greece on February 28?

Posted by keeptalkinggreece in Very Mix

Lots of things are up but the main thing is down. During the last days I had been bombarded again from friends’ and KTG-visitors’ complains about the decline and fall of the Greek state services – social and not- , about the economical squeezed out of the average citizen. The worst we have not seen yet, though. I know, that’s not a positive message to start the week but … In an effort to re-balance things I will post about Nicole Kidman and her appearance as a ” flower column”, later.

OK, the week hasn’t started good on the economic issues as the Athens Stock Exchange is falling. Less than two hours after its opening the board shows: 12:19 1.549,89 -33,31 -2,10% Revenues 40,84 million €. Banks have plunged into -4% until now…

Under pressure from its international lenders Greece is seeking ways to collect 27,5 billion euros. A new package of measures is under way focusing on wages and bonuses cuts. These new income shock will affect bank employees and workers of state-run enterprises.

Greeks are still waiting for something positive like measures to boost the development. We see nothing in this respect.

As of March 1, 2011 pharmacies will stop giving prescription medication to insurers of 7 social security funds. Pharmacists claim that these funds owe them 185 million euros. Weird enough Greece’s biggest social security IKA and second biggest TEVE (self-employed) and OGA (farmers) are excluded from the embargo.

At the same time there is a war going on between the state, the social security funds, pharmaceutical companies, distributors and pharmacies due to the medication shortages. According to Greek Medication Organization (EOF), 30-98% of 28 drugs currently on severe shortage, produced or imported in the country, are being re-exported for profit. You name it….

Greek government is threaten to severely punish those employers who employee people without social insurance.You find me one person who will denounce his employer in times of an unemployment tsunami and I’ll send you one Euro reward.

Buses are not operating 11am-5pm and Trolleys 1-5pm. Most likely will be new strikes and/or work stoppages in Athens public transport this week, so keep in touch with KTG for updates.

The number of dead from H1N1 increased to 121 over the weekend.

An earthquake of 5,2Roccurred Monday morning 09:49 in the Libyan Sea, 40 km southwest of Ierapetra on the island of Crete. There are no reports about human casualties or material damages.