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“One Step Away From PSI Deal” – Why Greeks & Troika Unhappy?

January 29, 2012 2

Greece and its private creditors are apparently one step away from completing the voluntary Greek Bond Swap (PSI). “We are one step away from PSI deal”, Greek Finance Minister Evangelos Venizelos said. “We are close to the finalization of a voluntary PSI”, head of Institute of International Finance Charles Dallara said …

Davos Topless Protest – 3 Ukranian Women Detained

January 29, 2012 2

Three topless Ukrainian protesters, members of the Femen movement, were detained Saturday while trying to break into an invitation-only gathering of international CEOs and political leaders to call attention to the needs of the world’s poor. Separately, demonstrators from the Occupy movement marched to the edge of the gathering. After …

Iran Finalized Oil-Sanctions Against EU Member States

January 28, 2012 Comments Off on Iran Finalized Oil-Sanctions Against EU Member States

Iran’s parliament finalized a draft bill on cutting the country’s oil exports to European states as retaliation for the EU’s oil ban against Tehran. Fars news Agency reports that Iran will cut all oil exports to European states until they end their oil sanctions” Vice Chairman of Iran’s Parliamentary Energy …

Crete: New Earthquake 4,9R

January 28, 2012 3

A new earthquake measuring 4.9 on the Richter scale occurred in the sea area between the islands of Crete and Santorini. The earthquake occurred at 12.50 pm on Saturday and had the same epicentre as the two previous earthquakes that jolted Crete with 5.2R on Thursday and Friday. No injuries …

UPD: Strong Reactions: Greece Rejects “Budget Control Cede to EU”

January 28, 2012 9

Athens categorically rejected the German proposal to cede control over its budget to the European Union as a precognition for the second bailout, the rescue package for Greece. “We can never accept this. A similar proposal was made in the past by a Dutch minister. We do not even discuss …

FT: Germany Calls EU to Control Greek Budget

January 28, 2012 9

Germany pushes for the end of the Greek sovereignty and demands to cede budget control into the hands of Greece’s lenders. The German government wants not only to appoint a state commissioner but also to take control of the budget decisions of the debt-ridden country. In a shocking proposal obtained by Financial Times, …

Lagarde: No Satisfied with Greece’s Reforms

January 27, 2012 14

International Monetary Fund Managing Director Christine Lagarde said that she’s not satisfied with the progress Greece has made on structural reform. “We’re not terribly positive about what has been done but we want to put together a program for the country,” Lagarde said in an interview with Bloomberg Television from …

Greek Coalition Gov’ Partner Threatens Not to Sign Troika’s MoU

January 27, 2012 8

Greece’s lenders pressure the party leaders forming the coalition government to put down their signatures under the new loan agreement, the new Memorandum of Understanding containing austerity measures that will elimination large parts of the Greek society, threatening ‘No signature, No Money’. Here comes one of the coalition gov’ partners, far-right LAOS, …

Crete: Another 5.2R Earthquake in 24h- Two Slightly Injured

January 27, 2012 2

A strong earthquake measuring 5.2 on the Richter scale occurred in the sea area off the island of Crete, the second within the last 24 hours. The earthquake occurred at 03.33 am in the sea area 83 km off Iraklio, 247 km South-Southeast of Greece’s capital Athens. In the same area where an …

UPD: Greek PSI Deal Reached with 3.75% Coupon?

January 27, 2012 Comments Off on UPD: Greek PSI Deal Reached with 3.75% Coupon?

The deal on the Greek bond swap (PSI) has been apparently reached, economic news portal Capital.gr reports. Quoting banking sources, Capital writes that the deal has been reached on a coupon with an average interest rate of 3.7%. At the same time there will be a clause for growth to …

IMF’s Hawley: 10″ of Painful Silence on Wages Cuts in Greek Private Sector (video)

January 27, 2012 2

David Hawley, press official of International Monetary Fund, gave a unique television performance when he was asked about the abolishment of 13th and 14th salary in the private sector of Greece. Hawley seemed to have swallowed his tongue as he remained silent for 10 seconds. “Journalists worried that something had happened …

German CDU Kauder: Greece should be Placed under Guardianship

January 27, 2012 14

German member of the Bundestag, leader of the Christian Democrat Union parliamentary group and close aide to Chancellor Angela Merkel made a shocking proposal. To place Greece under guardianship! Speaking to SPIEGEL-ONLINE, Kauder threatened Greece with a payment stop and if necessary the country should be placed under EU guardianship. …