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Monthly Archives: March 2013

Greek newspapers: how safe are Greek deposits?

When five Sunday newspapers speak about the safety of savers’ deposits¬† in their front pages, I think, it’s time we should start make thoughts about “how secured are deposits in Greece?” The Cyprus example might be “a template”, after all, as eurogroup head Jeroen Dijsselbloem recently said. Deposits in Greek …

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Happy Easter!

Happy Easter to all KTG-readers celebrating Easter on March 31st 2013! Greek-Orthodox world celebrates Jesus Resurrection on May 5th. Happy eggs hunting ūüôā

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Patras: mice eat pensioner’s savings hidden in home basement

A Greek pensioner was very worried about his savings amid the bad example of Cyprus crisis and the Eurogroup decisions to grab people’s deposits. The man from Patras in western Peloponnese went recently to the bank and withdrew his savings: 25,000 euro. He stuffed the money cartons full of books …

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Bank of Cyprus depositors may face 60% haircut

Deposits haircut¬†in the Bank of Cyprus can be much higher than expected. While the real haircut may be at least 37.5% for deposits over 100,000 euro, another 22.5% may be ‘frozen’ and land on a special fund for an unspecified time. “Wealthy depositors in the Bank of Cyprus could face …

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Woman shot dead after being caught in crossfire between robbers and police

An unbelievable tragedy occurred Friday night, when a¬†25-year old woman came in crossfire between armed robbers and police.¬†The woman was driving in the Isthmia area when she accidentally came in the crossfire between Greek police and¬†robbers armed with kalashnikov weapons. A blind bullet hit¬†the car and ¬†wounded her on the …

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Daylight saving time – clocks change Mar 31/2013

It’s time for summer time – daylight saving time –¬†again. On Sunday, march 31st 2013, we will have to change our clocks one hour forward. In Greece the change takes place at 3 a.m. that suddenly becomes 4 a.m. If your clocks do not automatically change, you have to change …

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More than 150,000 Greek graduates moved to 70 countries in past 5 years

More than 150,000 Greek graduates are estimated to have moved to more than 70 countries in the past five years in order to find work, a conference organized by the University of Macedonia in Thessaloniki heard on Wednesday. According to data drawn from a recent study by economic geography professor …

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Volos: Arson attack at Bank of Cyprus with scent of Golden Dawn

Greek police arrested three young men in Volos for the arson attack at a¬†Bank of Cyprus branch in Volos. The attack took place with molotov cocktails in the dawn of Thursday. The ATM was¬† destroyed. The men had managed to break a glass window and throw molotov cocktails inside the …

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Athens: students protest universities and colleges mergers, burn EU flag

More than¬†4,000 students protested outside the Parliament on Thursday as Greek lawmakers voted for “Athena plan” that will merge or even close down more than 300 university and technical college faculties and departments. The mergers are imposed by Greece’s international lenders, the EU-IMF-ECB Troika, in an effort to cut public …

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Deputy Parliament Speaker Athanasios Nakos passed away at 63

Deputy speaker of Greek parliament,¬† Athanasios Nakos has died at the age of 63, Greek media reported on Thursday afternoon. Nakos had recently undergone a heart surgery and was hospitalized in the¬†Intensive Care Unit of a private hospital in Athens. Greek private Mega TV mentioned ‘some post operation complications’ as …

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Cyprus banks opened: long queues but no panic, no bank run…

Savers eager to withdraw money or check their deposits formed long queues outside the banks in Cyprus, that opened their doors to public sharp 12 on Thursday after almost two weeks of closure. Queues outside the several branches of the¬†country’s two biggest lenders, Bank of Cyprus and Cyprus Popular Bank, …

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Cyprus High Noon: banks open at 12 pm after almost two weeks

Banks staff, armed guards, police, journalists,¬†stockbrokers, they¬†are all ready to record the reopening of banks in Cyprus at¬†12 o’clock noon today, March 28th 2013.¬†Banks will open again with strict capital control restrictions after almost two weeks. Employees are already inside the banks preparing the reopening. Banks will operate from 12 …

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