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Daily Archives: December 21, 2017

Prime Minister’s office attacks BoG governor as “a failed finance minister”

The Greek government and the Prime Minister started a war against the Governor of the Bank of Greece, Yannis Stournaras, and officially described him as “a failed finance minister”.  The war broke out just hours after a BoG Interim Report on the Monetary Policy 2017 suggested a “Memorandum Light” for …

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Katakolo oil Reserves four times larger than expected, says Energean Oil&Gas

The quantities of oil at Katakolo are four times larger than initially estimated, with proven reserves amounting to 10.7 million barrels instead of the estimated three million barrels expected during the period of the tender, sources from Greek energy explorer Energean Oil & Gas revealed on Thursday. West Katakolon oil …

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Greece needs a “precautionary support program” after Aug 2018, says Bank of Greece

BoG governor Yannis Stournaras and the Bank of Greece claim that Greece will need a “precautionary support program” after the current fiscal adjustment program concludes in August 2018. In the Interim Report on Monetary Policy 2017, the Bank of Greece says among others: “Such a precautionary support framework should assist …

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Another case of bogus Olive Oil: Authorities warn consumers

Greek authorities have seized 3,700 liters of bogus olive oil. Instead of Extra Virgin Olive Oil, the bottles and canisters contained sunflower oil or other seeds oils and color substances that were dangerous for consumption. It is unknown how many liters of the bogus olive oil have reached the market. …

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Unemployment is Greece rise 4.88% in November compared to October

Registered unemployment climbed by 4.88 pct in November compared to October, a statement issued by the Greek Employment Manpower Organization (OAED) said on Wednesday. 40,261 people were added to the long lists of jobless. Overall, November’s registered unemployed came to 864,778 in November compared to 824,517 in October. Of these …

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