What’s Up in Greece on Feb 8/12?

Posted by in Very Mix

The final countdown for Greece’s future and Greeks’ pockets is up today, as the coalition government leaders are asked to give their blessing to additional austerity measures.

The finalized text of the additional austerity measures reached the political leaders of the coalition government this morning. A ‘book’ of 16 pages translated into Greek. However the original text in English consists of 50 pages… A fact that triggered discontent in the headquarters of PASOK, Nea Dimokratia and LAOS. Papandreou, Samaras and Karatzaferis examine and evaluate the Troika proposals on more austerity, on wages and pensions cuts, on lay-off and privatization.

Papandreou says, they have to accept everything, while ND and LAOS have some reservations, Greek media report.

The meeting of Papademos-political leaders have been postponed for 3 pm – it was originally set for 1 pm. Latest information speaks of another postponement for after 3 pm!  The meeting will be followed by a cabinet meeting that will approve the loan agreement. This will have to be voted at the Parliament until Sunday, Feb 12, 2012. Quiz: will all gov’ deputies will vote in favor?

At the same time Greeks started to calculate how much they will lose from the additional austerity measures demanding an average of 20-25% income decreases with fatal impact on pension funds and state revenues.

With the monthly minimum wage down from €751 gross to €600, i.e. -22%,  employees will earn just €780 gross after 10 years of work. Nice perspective….

IIF head Charles Dallara left Athens for Paris for talks with his partners on the PSI.

Many parts of the country are in state of emergency due to the heavy rainfalls in the last hours. Cities and villages in Peloponnese , Eastern Greece, and in Thrace, in NE part of the country. The prefectures of Rodopi and Xanthi due to the floods caused by a burst dam in Bulgaria.

Snow is falling in the Northern parts of Greece, where snow and frost are causing traffic problems. There are snowfalls  also in the Northern parts of Athens. Several schools are closed.

Newsit.gr  reports that an unknown person cut three olive trees in Glyfada, one of the ‘rich’ suburbs of Athens, and get fire wood free of charge. The olive trees were standing on the pavement.

Greek loan receivers rush to the banks to find a solution to their inability to pay back. An average of 5,000 requests reach the banks daily.

Health Minister Andreas Loverdos said that expired medicines worth €1 billion land into the garbage every year. He announced that as 0f 1. March 2012, expired medicine can be given up to pharmacies.

The bodies of three Afghan immigrants were found on the national road to Igoumenista, Western Greece.  Autopsy showed they had died of suffocation. Tragic end for broken dreams…

Athens Stock Exchange records a +2.84% with investors eyeing the Troika-Greece deal. The General Index is above 800 units.