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Tag Archives: new austerity measures

IMF takes the wind out of the Greek sails, German FinMin speaks warns of Grexit

German Finance Minister Wolfgang Schaeuble and the International Monetary Fund seem to do their best to take the wind out of the Greek government sails. While Prime Minister Samaras and his economic team allegedly prepare taxation cuts, the country’s lenders urge Greeks to continue the so-called “reforms” and even take …

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Frantic Negotiations & Tough Bargain in Athens as the Society Boils

Frantic negotiations and tough bargain are taking place in Athens between the Troika and the Greek side, while the national media report of new demands raised by Greece’s lenders representatives. They seek additional measures worth €3.3 billion for 2012 as lowering the minimum wage -rumors speak of €600 gross/month – will hit …

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IMF’s Greece Report: No New Taxes But New Austerity Package

A new chapter of a hell 0f austerity is ahead for Greeks as the International Monetary Fund (IMF) recommends new austerity measures. Even if IMF’s point of view is that  Greece has reached its limit in raising taxes,  the proposed spending cuts that it will translate into salaries and pensions decreases …

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Greek Drama Day: New Austerity Package to be sealed

It’s Greek Drama Day today. While some international market ‘Cassandras’ are predicting a Greek Default,  the whole Cabinet is meeting behind closed doors under the chairmanship of prime minister George Papandreou. Is the government going to resign accepting its failure in economic policy? Ahahahaha! No, no! The Prime Minister has summoned …

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The Night that rained Measures… New Austerity Measures!

I know it is depressing to write (and read) about a cracked-down economy on a Friday but more depressing is when you have to live with it. Thursday night, December 9, 2010 will remain in the history of Greece as the night that rained … measures! Shortly before Christmas and while Greeks had been waitiing …

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The New Greek Patriot is Born

The New Greek Patriot is born –  after the announcement of the New Austerity Measures “New Patriotism” – the slogan of PM Papandreou to seek support for the harsh austerity measures

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