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Daily Archives: November 18, 2011

Greece’s Budget 2012: Recession, Unemployment, High Taxes

Greece’s Budget 2012 has been submitted to the Parliament on Friday after being approved by the Cabinet. According to the text tabled at the parliament, the Budget 2012 estimated that recession will be reduced to 2.8%, unemployment to exceed 17% and new taxes to empty taxpayers’ pockets by 12 billion …

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Thessaloniki: Riot Police Enters University; First After Lifting “Uni Asylum”

For the first time after the lifting of the “university asylum”, riot police entered the premises of the university of Thessaloniki on Thursday. Greek media report that a group of 50 people wearing hoods stormed the yard of the Aristoteleio University where a concert was taking place. Two riot police squads …

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Dallara: Greek Debt Swap Will Likely Cause Selective Default

FRANKFURT (Dow Jones)–An agreement between the Greek government and private bond holders will likely cause a selective default on Greek sovereign debt, the managing director of the Institute of International Finance said Friday. “We are not worried about a selective default, which will last a matter of days, but won΄t …

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