tagged: 21. December 2011, Ferostaal bribes, Germany, Greece, portugal, PSI, strike trains proastiakos 22 Dec 2011, supplementary pension cuts, what's up in greece

What’s Up in Greece on Dec 21?

Posted by keeptalkinggreece in Very Mix

A crucial cabinet meeting is up in Greece today that will decide cuts in  supplementary pensions. Greek media report of upcoming cuts between 10 and 40 percent, depending on how large are the deficits of the insurance funds that give these pensions. This meeting is also a first crash-test for the consistency of Papademos’ government as coalition partner conservative Nea Dimokratia opposes these cuts.

Daily Proto Thema ironically pointing to the wealth  owed by the 48 cabinet ministers “With €30 million assets and 465 real estates they decide on pension cuts“. This cabinet looks like a multi-national giant, stresses the newspaper underlining how rich are the ministers of a debt-ridden country with impoverished citizens.

A German court finedFerrostaal AG with 140 million euro for handing out bribes to Greek and Portuguese officials to secure state contracts. In case of Greece, the contract referred to the purchase of four submarines. The Greek bribe was amounting 62 million euro. should the Greek officials give back even half of their bribes, no pension cuts would be necessary. But here is the country where political will and covering up are the main principles topping any agenda.

What if Finance Minister Evangelos Venizelos expressed ‘optimism’ about the PSI. Reuters reported that Spanish hedge fund Vega Asset management withdrew from the negotiations and French newspaper Les Echos quoted a banker involved in the negotiations saying “there will be no agreement in 2011″. However IIF presses for immediate solution.

Venizelos runs into a race to fill a hole of 2.8 billion euro until the end of the year. Where will these revenues come from? It doesn’t matter. FinMin definitely wants to present a budget deficit of 9.5% for 2011…

Greek consumers continue to pay double prices for the same goods of multi-national companies in comparison to other Europeans. Anyone to combat price-cartels, please?

 Tomorrow Thursday, 22.Dec 2011, Trains and Proastiakos will be on work stoppage from 12 noon until 5 pm.

Tax officials wills be on strike on December 29th and 30th 2011.

Bad weather is on the way to Athens, with rain and even storm in the evening. I hope you have a fire place then heating oil is a No-No this year….

Remember to wake up early tomorrow. It it the solstice, the shortest day of winter.