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Tag Archives: austerity

ETUI: Wages in Greece fall at 3.1% annually since 2009

Workers are still not feeling economic recovery: wages are lower now than they were eight years ago in seven EU member states, according to new research published today by the European Trade Union Institute (ETUI) and European Trade Union Confederation (ETUC). The research also shows that in 18 EU countries …

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PM Tsipras: The era of austerity is over

Greek Prime Minister Alexis Tsipras says the era of austerity is over for his country, painting a positive picture Friday of reforms the country has agreed to take after its latest bailout program ends in 2018. Speaking in parliament, Tsipras described the deal reached Monday as an “exceptional success” and …

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A shocking report: Greeks sink yet deeper in poverty

How can Greeks live on a monthly pension of just a little above 300 euros?  They cannot. Rent or property tax and utility bills swallow the meager income month in, month out. Hardly is a euro left for food or other items that cover daily needs. A food package from …

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Moscovici promises Greece “lighter austerity measures”

EU Commissioner for Economic and Monetary Affairs, Pierre Moscovici, paid a short visit to Athens on Wednesday. Moscovici came to Athens to receive the title of  Honorary Doctor from the Athens University. However, he used the opportunity for a meeting with Greek Prime Minister Alexis Tsipras. “Greek agreement is necessary …

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IMF chief economist Blanchard warned in May 2010 Greece program was not going to work

A report by Olivier Blanchard, a former economic at the International Monetary Fund, has been presented at a meeting organized by the Canadian think tank Centre for International Governance Innovation end of January. In this report,  dated 4. May 2010, then chief economist at the IMF, Olivier Blanchard was warning …

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Athens: Angry firefighters raid ministry protesting labor contracts

Angry firefighters broke the main entrance of the Greek Ministry for Administrative Reforms on Wednesday and forced themselves into the building demanding a meeting with the minister. Thousands of firefighters gathered in downtown Athens to protest over their labor contracts that are about to expire. They staged a protest outside …

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German elections go Greece: Gabriel slams Merkel/Schaeuble on austerity

The elections campaign has officially started in Germany. The Social-Democrats (SPD) with top candidate Martin Schulz challenge the conservative Christian-Democrats (CDU) of Angela Merkel and Wolfgang Schaeuble. While it seemed that the former President of the European Parliament Schulz would have it hard to challenge the Chancellor, the results of …

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Greece in times of austerity: Police cars on verge of dissolution (picts)

Economic crisis and austerity has reached unprecedented levels in the equipment of public services, including the patrol cars of the Greek police. The union of police officers in Thessaloniki uploaded two pictures from a patrol car. A wooden plank has been placed behind the driver’s seat to keep it upright. …

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Why are EU & Eurozone partners afraid of Dr Schaeuble?

At the Eurgorup meeting on Monday, Germany won. There will be no program review for Greece this year. Athens has to wait until it could be able to sell bonds to the European Central Bank’s quantitative easing scheme and return to the markets. The stalemate allegedly left Greece’s allies among its …

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FinMin Tsakalotos admits: Creditors push for more austerity measures for 2019-2020

Without conclusion of the second program review there will be no discussion on debt neither we will enter ECB’s Quantitative Easing and consequently return to the markets. This dramatic warning came from Greece’s Finance Minister Euclid Tsakalotos on Monday. Speaking at the conference “Time for the Greek Economy” in Athens, …

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