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Monthly Archives: May 2015

Crete: Lightning injures 7 tourists in Knossos archaeological site

A lightning fell in the archaeological site of Knossos in Crete, on Friday morning injuring 6 tourists with one of them reportedly being in critical condition.  According to local media, the lightning fell at 9:30 in the morning near a group of Russian tourists visiting the site. The tourists had …

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IMF : Greece has right to “bundle” four June payments into one

Greece’s deadline for repayment to the International Monetary Fund is coming close, while the options for agreement with creditors remain unclear. Without agreement there is no bailout funding for cash-strapped Greece that struggles to avoid a “credit event” on June 5th, when €300 million are due to the IMF. Greece’s …

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ECB report: “Default risk expectations increased sharply for Greece”

The European Central Bank issued it Financial Stability Review today and made very important conclusions: that Default risk has increased for Greece and that the Greek banking sector has suffered substantial deposit outflows. “Wow,” as Finance Minister Yanis Varoufakis would say expressing his astonishment about the extremely surprising and nonplus …

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ECB leaves ELA level for Greece unchanged, while Greeks withdraw money like crazy: €300m just yesterday

The European Central Bank left the level of Emergency Liquidity Assistance  available to Greek banks unchanged from a week ago, two people familiar with the matter told Bloomberg. “During a telephone call on Wednesday, the Governing Council left the cap on Emergency Liquidity Assistance at 80.2 billion euros ($87.6 billion), …

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