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20
Aug

UPD Greece’s biggest pensions fund IKA stops issuing new pensions for those below 67 and thus retrospective 1.1.2015

Posted by in Society

Greece’s biggest insurance fund for the private sector IKA has apparently stopped issuing pensions due to retirement age, invalidity or death for all those below 67 years of age or for those with less than 4,500 working stamps. According to an exclusive story of daily Eleftheros Typos, IKA will not […]





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20
Aug

ESM’s 3. bailout money comes to Greece & is immediately forwarded to repay debts

Posted by in Economy

Efforts, compromise and total surrender to creditors brought fruits: The European Stability Mechanism approved the financial assistance for Greece on Wednesday,, the first disbursement of the first tranche arrived on Thursday and it was directly forwarded to the European Central Bank for the payment of 3.2 billion euro maturing today. […]





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19
Aug

German MPs approve 3. bailout for Greece; Schaeuble, Merkel in “One picture worth a thousand words” snapshot

Posted by in Economy

With an overwhelming majority the German Parliament (Bundestag) approved the 3. bailout aid for Greece. 454 German lawmakers voted in favor of the bailout, 113 against and there were 18 abstentions. Finance Minister Wolfgang Schaeuble defended the 3. bailout for Greece telling his colleagues among others: – It would be […]





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19
Aug

FRAPORT sees €1.23bn offer for privatization of Greece’s regional airports as “basis for negotiations” (!!!)

Posted by in Economy

Yesterday, we “celebrated” the Greek government decision to seal the deal and give the privatization of the country’s top 14 regional airports to German-Greek consortium Fraport-Slentel. Yesterday, we welcomed German state-run enterprise FRAPORT for ‘helping  Greece’ as some German media underlined. Today, FRAPORT seems to reconsider the offer it made […]





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19
Aug

Bypassing Capital Controls: 1,000 Bitcoin ATMs to be installed in Greece

Posted by in Economy

Have you lost trust to Greek banks? Do you hate the Euro? Do you feel the capital controls restrict your business and private activities?No problem. There are alternatives. The Bitcoins, for example, the web-based digital currency. In order to facilitate business activities free of capital controls and the €uro and […]





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19
Aug

Greece’s banks & ECB: Liquidity rises, ELA falls

Posted by in Economy

All Greek banks were needed was another bailout and capital controls. Both needs have been satisfied and now their liquidity has improved.  Therefore the Bank of Greece requested the European Central Bank to lower the Emergency Liquidity Assistance (ELA). The European Central Bank lowered on Tuesday the ceiling for emergency […]





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18
Aug

Schaeuble: Greece’s choice to exit the eurozone, a 4.bailout can’t be completely ruled out in the future

Posted by in Economy

A few hours before the German Bundestag votes for the 3. bailout package for Greece, Finance Minister Wolfgang Schäuble (CDU) went to state broadcaster ZDF and campaigned in favor of the so-called “new aid package” for the debt-ridden country. He told the German public and his fellow lawmakers, that he […]





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18
Aug

German FRAPORT wins bid for Greece’s 14 top regional airports

Posted by in Economy

Who would have though! A German company, airport operator FRAPORT won the bid to operate and maintain 14 regional airports, considered to be top of the top in Greece. With an offer of 1.23 billion euro, the consortium of Fraport -Slentel (a unit of Greek energy group Copelouzos) won the […]





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17
Aug

Greece’s 3. bailout: Dramatic decreases in pensions and welfare benefits

Posted by in Society

How did German Finance Minister Wolfgang Schaeuble say it exactly? “The deal is a good thing and a chance for Greece.” While everybody can assume what Schaueble considered as “good” with Greece’s creditors in his mind, the same “everybody” can assume that if it is good for Greece the country, […]





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17
Aug

Greece writes off debts to state and banks up to €20,000

Posted by in Society

Greece will write off debts up to 20,000 euro to tax office, insurance funds but also consumer loans and credit cards to the banks. The measure targets the debt relief of allegedly some 35,000 people and the criteria are very strict: absolute poverty, not possession of property, no income at […]





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14
Aug

Greece’s Parliament approves 3. bailout – Tsipras to seek vote of confidence as SYRIZA suffers losses

Posted by in Politics

Bill passed, SYRIZA suffers defeat and thus by its own lawmakers. With 222 YES votes the Greek Parliament approved the 3. bailout bill on Friday morning.  64 MPs voted NO and 11 Abstained. With 42 SYRIZA MPs to have voted NO or “Present”, the the major coalition government partner suffered […]





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13
Aug

Independent: Dismantling Greece and fed it to profit-hungry corporations

Posted by in Economy

The Eurozone’s masks have fallen. Hardly anyone has anymore the illusion that the 3. bailout aims to facilitate Greece to pay back its debts and that it therefore needs  more austerity or “reforms” as they are euphemistically been called. On one hand the 3. bailout brings additional cuts in health […]





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12
Aug

My Greek Bread & Milk: OECD’s Fairy Tale of “Competition Toolkit & lower prices for consumers”

Posted by in Economy

Hurrah! The milk and bread market in Greece is to be liberated! The much anticipated liberation has been pushed forward by the Troika lenders since the first bailout agreement in 2010. The OECD had provided its famous Competition Assessment Tollkit for this. But although the previous Greek governments had passed […]





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12
Aug

Bill for 3. bailout & Greece’s oxymoron: the more taxes citizens pay, the less public services they receive

Posted by in Economy

The bill of the 3. bailout for Greece has been uploaded on the website of the Greek Parliament at 3:30 am on Wednesday: 7 files in PDF, a total of 387 pages. The uploading of the bill deprives lawmakers and ministers from ‘future’ claims, that they had no idea what […]





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