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16
Apr

Greece: Primary Surplus of €1 billion in March; Internal Borrowing on the way?

Posted by in Economy

An “explosion” in revenues in March 2015 created a Primary Surplus of 1.7 billion euro, Deputy Finance Minister Dimitris Mardas announced on Thursday. “The primary result is a surplus of 1.735 million euro,” The Greek Finance Ministry said in a statement adding that “the Primary Surplus target was 119 million […]

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16
Apr

EU Commission Not Satisfied with Greek bailout talks? No problem. Millions of Jobless Not Satisfied either…

Posted by in Politics

European Commission spokesman Margaritis Schinas said Thursday that the European Commission was “not satisfied with the progress of reforms talks between Greece and its creditors.” “Work needs to intensify” Schinas said hinting to the next eurogroup meeting on April 24th and added that “This sequence of events…has not yet materialized, […]

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16
Apr

Greece does not purchase S-300 missiles; it’s just upgrades of “old stuff”

Posted by in Politics

Is Greece about to purchase Russian anti-aircraft missiles S-300 and anger its creditors? “No,” says Greek Defense Minister Panos Kammenos, adding that “Greece is in talks with Russia only for the maintenance and technical support of the existing missiles system.” Greece acquired S-300 PMU1 anti-aircraft system after the Cyprus Missile […]

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15
Apr

Standard & Poor’s downgrades Greece from B- to CCC+, outlook “negative”

Posted by in Economy

Standard & Poor’s Ratings Services cut its credit ratings on Greece, saying it expects the country’s debt and financial commitments to be unsustainable without deep economic reform. The credit rater, which lowered its ratings by one notch to triple-C-plus, added that the outlook is negative given the risk of liquidity […]

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15
Apr

FinMin Schaeuble fires his gun: new Greek gov’t damaged improving economy, markets see no contagion from Grexit

Posted by in Economy

The “embargo” that German Chancellor Angela Merkel had apparently imposed on her Finance Minister after the visit of Greek Prime Minister Alexis Tsipras in Berlin did not last long. Or was it no embargo but a spiritual Lent before Easter? Now that both the Western and Eastern Churches celebrated Jesus […]

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15
Apr

Lion of ECB, Mario Draghi, attacked by FEMEN activist during press conference (video, picts)

Posted by in Very Mix

He was humming down data and figures, interest and inflation rates, his monotonous voice had already hypnotized his audience to close eyes and softly dose away. Suddenly, a screaming Erinys, an infernal Fury, a revenge-seeking goddess from an antique Greek drama jumped in front of him, hurling confetti and shouting […]

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15
Apr

Did Germany adopt Varoufakis’ plan and prepares “Greek default within the eurozone”?

Posted by in Economy

Do you remember Yanis Varoufakis‘ “doctrine” for a Greek default within the euro zone”? That was back in 2012, when Varoufakis who was just an economics professor and games theorist, was touring the media claiming that “Greece should default within the eurozone.”  Now, exactly today, Wednesday, a similar scenario appeared […]

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15
Apr

IMF and EU cannot decide on impact of a Grexit to other euro zone members

Posted by in Economy

IMF’s chief economist Olivier Blanchard expressed hope that there will be an agreement with Greece, however he stressed at the same time that a Greek crisis cannot be ruled out. By “Greek crisis” Blanchard probably meant a “Greek exit from the euro” because as everybody knows since long ago that […]

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15
Apr

Greek government spending decreasing, but debt/GDP high

Posted by in Economy

There is certainly something wrong with the bailout and strict austerity program imposed by the creditors on Greece, so far. Government spending has been constantly decreasing but the debt/GDP ratio remains high. In fact it is higher than before the bailout in 2010… “Latest Greek data show government spending -21% […]

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15
Apr

OECD: Greek families with kids are taxed higher than singles

Posted by in Economy

It doesn’t worth to be married with kids in Greece. Tax-wise. While taxes and social security contributions swallow 43.4% of the salary of a taxpayer without family, families with children are taxed with 3 percentage points more. According to a survey conducted by the Organization for Economic Cooperation and Development […]

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