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Tag Archives: austerity measures

IMF report: Greece’s debt ‘highly unsustainable’, cut pensions, tax increases for the poor

‘Greek public debt is highly unsustainable, the International Monetary Fund said in a report to be discussed during a board council meeting in Washington later today. The report, exclusively presented by Athens News Agency, said that the Greek economy faced four challenges. The country’s public debt was highly unsustainable the …

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Tsipras: Greece will not enact “a single euro extra revenue raising measures”

Prime Minister Alexis Tsipras promised that “Greece will not enact a single euro extra revenue raising measures.” Moreover he said that he was “ready for elections” although early elections would be pointless at this time. Tsipras promise comes as the SYRIZA-INTERDEPENDENT GREEKS prepares to celebrate two years in power, while …

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Athens: Fire tragedy reveals 3 middle-aged people have been living without electricity for a shamefully long time

One man lost his life and two people suffered burn injuries when a fire broke out this morning in an apartment in Zografou, a middle-class suburb of central Athens. The fire brigades rushed to the apartment-building managed to rescue a man, 57, and a woman 43, but were unable to …

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Greeks suffered wages losses of -28.16% from 2010 to 2015

Five years of loan agreements, memoranda of understanding, austerity measures and internal devaluation. And here is the bill for Greece’s employees: a decrease of 28.16% within five years. According to data from the Hellenic Statistical Authority (ELSTAT) salaries were cut by 28.16% in the period of the first memorandum of …

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Dismantling Greece and fed it to profit-hungry corporations

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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Creditors’ new combo “The Troika Four” started inspections in Athens

I have been wondering whether the new Troika which is a Quartet should be called “The Creditors’ Quartet” or “The Troika Four” or just “Greece’s creditors”. The new combo of representatives from European Commission, International Monetary Fund, European Central Bank and European Stability Mechanism definitely news a new short description, …

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