What’s Up in Greece on Feb 14/12?

Posted by in Very Mix

Valentine’s Day? Why’s the mood so miserable here? Because Greeks are still shocked about the voting of the new loan agreement and the austerity measures that will hammer them as soon as possible. Starting with lowering of the minimum wage. “Automatically”. This month!

PM Lucas Papademos seeks to reshuffle the cabinet. No major change is expected, it looks as if only the ministers who resigned will be replaced. A cabinet meeting is scheduled for 3 pm today, the government reshuffle is due ‘tomorrow the latest’.

Further Papademos tries to clean the issue of the written pledges the Troika asks from the leaders of the coalition government parties.

And he will try to find 325 million euro, a cuts hole in the new loan agreement. Government spokesman Pantelis Kapsis said that this amount will be cut from the ministries expenditures.

Things have to be proceeded quickly, so that Finance Minister Evangelos Venizelos can join the Eurogroup meeting tomorrow and come back as a ….”winner” (?!). The Eurogroup ministers will decide whether to give Greece the second bailout or not. Some Euro-partners  insist on provisions to punish Greece in case it will not stick to the agreement and Finland wants a collateral deal.

After coalition government parties expelled some 45 members for not voting or for voting in favor of the new loan agreement on Sunday, the second strongest “party” in the Parliament is this of the 64 independent MPs. There are some rumors, that the MPs expelled from PASOK  plan to establish a new party.

The first estimations about the damages caused by rioters, arsonists and looters on Sunday are nightmarish: 200 damaged business places, a financial blow worth at least 70 million euro.

There were some incidents on Monday night in Patras and Agrinio. Angry protesters demolished the political office of deputy Defence Minister Costas Spiliopoulos (PASOK) and disturbed a meeting attended by a local politician of Nea Dimokratia.

In Agrinio youth attacked the local offices of government partner LAOS, set garbage bins on fire and clashed with police.

On tuesday morning pensioners from the public and private sector demonstrated outside the Labour Ministry,

 The new loan agreement will bring new hikes in the prices of electricity within 2012. Power prices went up in January. [Thinking of starting a candles-business....]

A powerful earthquake of 5.1 on the Richter scale shake Chalkidiki, Northern Greece, at 3.34 am. The epicenter was in the sea area, 24 km West from the Athos peninsula. There have been no reports about injuries of material damage.

In Athens, a powerful explosion occurred at a cafe at 4 am in Chaidari suburb in the West of the Greek capital. The detonation damaged also 15 shops in the area. Police speculates that a gang of loan sharks is behind the attack.

The weather is chilly in Athens and snowy in the North of Greece. 

The joy in the Athens Stock Exchange lasted just one day. As of 11.37 am this morning, the ASE is down at -1.40%.