What’s Up in Greece on Oct 11? tagged: , , , , , , , ,

What’s Up in Greece on Oct 11?

Posted by keeptalkinggreece in Uncategorized, Very Mix

Strikes, occupations of state buildings, tons of garbage on the streets and anticipation on Troika’s first taste report on the sixth bailout tranche are up in Greece, while Greek bondholders get ready for a haircut.

Eurogroup president Jean-Claude Juncker did not exclude a Greek haircut of more than 21%. Speaking to Austrian television ZiB Juncker said : I don’t exclude the possibility of a Greek haircut, but one should not think that it is simply enough”. Pardon me? However he added that a default won’t be possible because it would risk a contagion to other countries. (source: here)

It looks that the EU leaders agreed on a 21% hair cut during the July 21st summit. If the next Summit in on October 23rd, will they agree on a 23% haircut? Greek media ‘translate’ Jucker’s statements as a haircut of 60%. And yet. It’s not up to the politicians to decide, Greece’s lenders – the banks – will have the ifnal say on the issue. It’s all about banks after all, and has nothing to do with saving Greeks in Greece or European taxpayers.

Meanwhile the meetings between the Troika and the Greek Finance minister concluded yesterday. Greek media consider a ‘green light’ for the 8-billion- euro tranche as more likely and wait for a first report by the Troika today.

It looks as the Mid-Term agreement has mutated into a Long-Term and it will included also the year 2015.

The Troika guys are tough and put pressure on the Greek team to proceed into further cuts in public sector wages. Armed Forces, Security Forces, Justice forces and doctors will face a 15% cut on their wages.

“Labour Reservists” will be kicked out of the public sector without compensation. LR will stay home with 60% of their salary for 12 months.

Natural gas prices will go up by 25% only in the prefecture of Attica!!!! Don’t ask me why. Apparently the cost of purchasing natural gas has gone up. 230.000 idiots in and around Athens will pay more, even more than for heating oil. The price analogy is/was that natural gas was 20% cheaper than heating oil.

The long-term strike of personnel at the Oil company has forced thousands of motorists to queue even for half an hour at gasoline stations to full tank their vehicle. Gasoline sector say there are enough supplies for three days…

The emergency property tax will start to be sent via the electricity bills by the end of this or next week.

Greek Prime Minister George Papandreou will meet European Council President Herman van Rompuy on Thursday, October 13th, 2011.

US Vice President Joe Biden will visit Greece on December 5, 2011. For …. the cooperation between the countries. He will go to Turkey after Athens.

3,500 tons of garbage lay on the streets of Athens. My neighborhood garbage or yours not included…

Try to avoid downtown Athens by car because there are some protest marches. Check the strike schedule here