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Recent News

Mammoth €44 Billion Bailout Tranche for Greece in Two Tranches

The mammoth tranche of 44 billion euro will be disbursed to Greece in two tranches, Greek media reported on Tuesday, hours before the start of crucial Eurogroup meeting. The first tranche of 34 billion euro will be released on December 5th 2012, while the rest 10 billion euro will flow …

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Ferry on Fire Docks at Patras Port

 Fire broke out on ferry boat “Crete II” while it was sailing 4-5 nautical miles away from the port of Patras, Peloponnese. The fire broke out in the garage deck short before midnight and burned down some 30 trucks. While the automatic fire extinguishing system of the ship managed to prohibit the …

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Greek Gov’t Rules Spending Controls & Wages-Pension Cuts Bypassing the Parliament

With two legislative actions and fourteen ministerial decisions the Greek government caused serious damage to two state powers of a sovereign state:  the Legislative and the Executive. Bypassing the Parliament, the government drafted legislative actions that give the Finance Minister super powers. Inspectors at ministries, local governments and public utilities enterprises will monitor …

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Greek commerce sector report paints bleak picture

Employment in the Greek commerce sector shrank by over 12 percent in the past year and there is going to be no improvement in 2013, a report by the sector΄s main association claims. In a preview of its annual report, set to be released Monday, the National Confederation of Greek …

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Protests and Occupations as Municipality Workers & Civil Servants Oppose “Labour Reserve”

With slogans and banners against the loan agreement, municipality workers and civil servants took to the streets on Monday, protesting the measure of ‘labour reserve’ that will forcefully sent home workers with only 75% of their salary and thus as of next month.  Municipality workers launched nationwide mobilizations protesting the labour …

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Polytechnio: Celebrating Students’ Uprising 1973-2012

There is quite some dispute nowadays in Greece whether about the celebrations to commemorate the 39th Anniversary of Students’ Uprising against the military dictatorship at Polytechnic University in 1973.  In a society suffering from harsh austerity measures,  it is obvious that there is criticism about the so-called “Polytechnio Generation”: students …

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US Embassy Issues Travel Safety Advise Over Racist Attacks in Greece

US Embassy in Athens updated its safety and security information on Friday raising the awareness of US citizens of African, Asian, Hispanic or Middle Eastern descent. The American diplomatic mission explained the update with ‘unprovoked harassment and violent attacks against person perceived as foreign migrants.’ US Embassy Excerpt: “Security Message …

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Lagarde on Greece: ΄Not Over Till the Fat Lady Sings΄

International Monetary Fund Managing Director Christine Lagarde said on Friday it is important that a crucial Eurogroup meeting next week on Greece forges a deal that will put the insolvent country΄s economy on sustainable path — though differences remain over how to achieve this. She also said European policymakers must …

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