What’s Up in Greece on Jan 20/12? tagged: , , , , , , ,

What’s Up in Greece on Jan 20/12?

Posted by keeptalkinggreece in Very Mix

A temperature rise and a light south wind are up in Greece, making me wonder whether it’s symbolic for a breakthrough in the PSI talks after a week of freezing temperatures literally and metaphorically. Should we be optimistic? We could, if we take into consideration the statement issued on Thursday by Institute of International Finance, the representative of Greece’s private creditors in the negotiations.

Discussions Continue on PSI

January 19, 2012 — Charles Dallara and Jean Lemierre, Co-Chairs of the Steering Committee of the Private Creditor-Investor Committee for Greece, held productive discussions today in Athens with Prime Minister Lucas Papademos and Deputy Prime Minister and Finance Minister Evangelos Venizelos on the voluntary PSI for Greece. Progress was made and discussions will continue tomorrow. (IIF)

Friday noon talks between Dallara and Greek officials resumed. Earlier Dallara had informed the private creditors via teleconference about the stand of the negotiations.

Greek officials are very busy these days as the pressure comes from all fronts and sides. Especially Finance Minister Evangelos Venizelos is rushing from the PSI-guys to meetings with the Troika-men who arrived in Athens to check the pulse of fiscal progress and discipline. I can claim that I am in position to predict that Poul Thomsen (IMF) and his colleagues from EU and ECB will suffer a kind of shock to see that no much has been done, between their last visit (Dec 2011) in Greece and now.

Greek media claim that there might be a reshuffle in the Papademos government. The meeting of the coalition party leaders on Thursday allegedly showed grave disagreements among the coalition partners, with conservative Nea Dimokratia opposing the cuts in wages and supplementary pensions and new recession measures,  far-right LAOS to want a smaller government cabinet and Socialist PASOK to propose a government reshuffle -  George Papandreou. There was discussion about the elections date, the leaders did not agree on that and most likely there will be another leaders meeting next week.

A 7-month-old girl died from flu strain H1N1 in Athens. The unlucky girl was from Libya and had recently come to Greece with her parents. Doctors at the children’s hospital Agia Sofia stated that the girl was infected with the deadly flu strain outside Greece.

Conservative politician and former minister Yiannis Kefalogiannis, 79, passed away. He was from Rethymno, Crete and member of a family with many politicians.

A jobless man who was threatening to commit suicide with a rifle gave up and surrendered to police. The man, 45, from a village near Chania, Crete, had closed himself at his home and since Thursday noon. At the beginning he had his three children with him and later had them go free.

In handcuffs and under draconian security measures the 53 members of the criminal loan-shark gangs appeared in front of the prosecutor in Thessaloniki. The four gangs were lending money with interest rates up to 10% per month, ie. 120% per year!. They are charged with illegal activities like blackmail, extortion, money laundering and … tax evasion. According to police, the ganags had revenues of more than 40 million euro in the last seven years.