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Recent News

Greece’s Mini-Cabinet Reshuffle

It all started with the resignation of Minister for Citizens’ Protection Christos Papoutsis, who chose to candidate for the leadership of PASOK than remain a Papademos’ government minister. The choice to give the empty post to Michalis Chryssochoides (Development Minister until Tuesday night) triggered more moves on the Greek political chessboard. …

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Emergency Property Tax: The Total Confusion!

If I were a surgeon, I would have raised my hands towards the sky and I would have said to the patient’s relatives “We did all we could. Now the patient is in God’s hands”. A similar clueless … moment happened to me in the last twelve hours, last night …

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Eurostat: Recession in Greece at -7% in Q4 2011

Recession in Greece hit -7% in the last three months of the 2011, in comparison to the same period of 2010, according to latest Eurostat report. Recession has been also recorded in Portugal (-2.7%), Slovenia (-1.5%), the Netherlands (0.7%), Italy and Cyprus (-0.5%). The biggest growth was recorded in Lithuania …

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IIF: Greece’s Disorderly Default Would Cost EZ One Trillion Euros

Reuters has obtained a secret report in which the Institute of International Finance (IIF) says that a Disorderly Greek default would probably cause a damage of one trillion euros to the euro zone. The impact would be hazardous for countries like Italy, Spain, Ireland and Portugal. As the “secret” report in all …

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Pharmacies in Athens & Piraeus Open During 48h Strike, Mar 8-9/12

The Pharmacists’ Associations in Athens and Piraeus decided not to join the 48-hour strike on March 8-9, 2012. However, they also decided to stop giving prescription medicine on credit to patients insured at certain insurance funds – apparently due to debts. Pharmacies in other parts of Greece will remain closed …

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Singer Dalaras Booed During Concert

Several people booed and hurled coffee and yogurt pots and bottles of water at singer Giorgos Dalaras during a concert at Ilion suburb of western Athens on Monday evening. However the singer showed cool-headed and kept singing. His only comment was that “some like his songs and some they don’t.” …

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Greece’s Pharmacists on Strike, March 8-9/12

Greeks will be forced to cure illness and diseases with …home remedies as pharmacists will launch a 48-hour strike on Thursday and Friday, March 8th and 9th 2012. Taking into consideration that pharmacies are closed on Saturday and Sunday, queues are expected to be quite long when they open again. The …

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Greek PSI: Venizelos Warns That Greece May Activate the CACs

Finance Minister Evangelos Venizelos warned that Greece may activate the CACs (collective action clauses) in case private creditors won’t participate in the bond swap, essential precondition for the second bailout for the debt-ridden country. “The deal is the best they would get” Venizelos told Reuters and warned that Greece would not hesitate …

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