The euro zone looks as if it is about to fall apart and the future perspectives for Greece are anything but rosy. The first of EZ countries to seek financial bailout is trapped in a spiral of debt over debt, while the Greeks are deprived of a descent income. Here …

The figures are merciless: 500,000 households in Greece have zero-income, as there is no household member with a work.  If you take into consideration that these data is based on employees only and do not include the self-employees, the reality must be much worst. The report prepared by the Bank …

Greece’s Budget 2012 has been submitted to the Parliament on Friday after being approved by the Cabinet. According to the text tabled at the parliament, the Budget 2012 estimated that recession will be reduced to 2.8%, unemployment to exceed 17% and new taxes to empty taxpayers’ pockets by 12 billion …

Former Greek Prime Minister Costas Simitis wrote an article to French newspaper Le Monde, directly answering Nicholas Sarkozy claims that  “Greece falsified statistical data in order to join the Euro Zone.” Simitis also indirectly gives an answer to Le Monde article claiming Goldman Sachs was the major Greek debt falsifier. Costas Simitis: …

Greece’s lenders representatives in Athens, also known as the “Troika”, released their report on fiscal progress and gave the green light for the 8 billion EUR. The sixth bailout tranche would be released to Greece most likely in early November, after the Eurogroup & IMF approval of the progress report. Finance Minister …

Greece’s Finance Minister Evangelos Venizelos’s meetings in Washington last night were ‘celebrated’ here with missals (“Not Debt Restructure” Greek press) and flourish promises. Greek Fin Min told Greek media that the Troika will come back to Athens, the 6th bailout tranche will be released and Greece will meet all its …

“Sudden death” for Greek Soccer and Fourty Years Slavery for Greece. Massive layoffs  in Public Administration, , massive attacks deep in our pockets. More taxes, VAT hikes,  recession. Greece for Sale. Markets Delete. A long death.  The 5th tranche of the €110 bailout will be relesed at the beginning of July, most …

The whole speculation about Greek Debt restructuring in connection with spreads and CDS flying high cannot but be considered as blackmail by money markets. It’s not a secret that millions if not billions have been put on the betting table for the Greek bankruptcy. Below, is an article we received by Polyvios …

Old chap Jean Claude Trichet, 69, long time French civil servant and President of European Central Bank, increased the interest rates to tame inflation within the eurozone. Interest rates went up by a quarter percentage point to 1.25 %.  Holders of loans  – credit cards, homes and whatever loans – will …

Greek Prime Minister George Papandreou pays  a two-day visit to Israel and the Palestinian Territories, carrying out the first visit by a Greek prime minister to Israel since three decades.  Among the issues to be discussed during the visit is the situation in Gaza and ways to find a final a …

  Second increase of VAT in 3 months! It’s 29°C outside….. The sun is shining… a  light brise blowing from NorthNorthWest…  That’s fairly pleasant for the season. So why do Greeks feel as if they live in a horrible heat wave? The answer is simple: Today, July 1st , hundreds of …

I have been complaining the whole day about the heat-wave in Athens. A heat that went even higher as Greece bet Nigeria in Mundial 2010. But now, as we head towards evening, temperature drops. Not much, but enough to let me sit on a comfort chair and enjoy my plants and flowers on …

Unprecedented scenes unfolded in a big Super Market downtown Katerini (Central Greece), when some 50 people, arriving simultaneous at payment counters asked for a 15% discount. As expected the management of the Super Market refused to grant the requested discount. And what did the consumers do? They simply walked out …

We have been sitting on a hot grill full burning charcoal for quite some time now. Occasionally fire resurged, occasionally fire lowers. But we are still sitting on the hot grill. Who are we? We are Greek citizens having deposited  their  savings to Greek banks. With the first dive in the …

The Infernal Comedy Confessions of a serial killer  Audience’s darling, actor John Malkovich is performing tonight in Athens the serial killer “Jack” accompanied by the Vienna Orchestra playing from music works of Vivaldi, Boccherini, Mozart, Gluck, Haydn and Weber.  “The Infernal Comedy” is a stage-play for a Baroque-Orchestra, two Sopranos …