Greece cannot accept demands from the International Monetary Fund to cut its pensions yet again in order to achieve a primary surplus target in two years, Greek Finance Minister Euclid Tsakalotos said on Thursday. Athens has proposed an overhaul of its pension system to make the system viable by increasing …

The Greek government is not under pressure only due to the Refugee Crisis. The Program Review is still due, with the European Union and the International Monetary Fund to disagree on “the fiscal efforts” required by Greece. Prime Minister Alexis Tsipras assured the Greeks last night, that the representatives of …

The International Monetary Fund is alive and kicking. And insists to apply its famous wrong “remedies” to the Greek problem, no matter what. The IMF’s representative in charge of the Greek program has arrived in Athens together with the representatives of European commission, the European Stability Mechanism and the European …

A storm is brewing over Greeks’ heads with German Finance Minister Wolfgang Schaeuble to insist on Grexit? According to Wall Street Journal, Greek Prime Minister Alexis Tsipras is trying his best to avert a fresh confrontation over Greece’s bailout, the country’s broken finances and the participation of the International Monetary …

Euro Leaders agreed to give Greece a chance to submit new proposals by 8:30 a.m. Friday, July 10th. Two days later, a full Summit with all 28 European Union members will take place. A crucial decision will be taken: “to start negotiations for a two-year program,” as Merkel said or …

Finance Minister Yanis Varoufakis dropped a small bombshell on Tuesday. Speaking to reporters, he said that a small tax may be imposed on transactions from ATMs. While Greeks tried to recover from the shock, private MEGA TV reported that the small tax may be 1‰ to 2 ‰ , that …

Nothing changed over the weekend. Greece found no money to pay the international Monetary Fund on June 5th, creditors found no way to agree on bailout talks. The result is logically: no deal, no money. precisely, No money to the IMF. Interior Minister Nikos Voutsis said it clearly:  Greece cannot …

German Finance Minister Wolfgang Schaeuble could not tame himself and poured the usual poison against Greece. And not only! He rebuffed the European Commission for its efforts to a way out of the impasse in the bailout talks. In an interview to The Wall Street Journal and French daily Les …

Is Greece about to purchase Russian anti-aircraft missiles S-300 and anger its creditors? “No,” says Greek Defense Minister Panos Kammenos, adding that “Greece is in talks with Russia only for the maintenance and technical support of the existing missiles system.” Greece acquired S-300 PMU1 anti-aircraft system after the Cyprus Missile …

Greece had growth. Back in 2014. Everything was fine with the creditors, the unemployment was just 25% – from 27% the year before – the state was paying its suppliers and outstanding debts, consumers were spending money like there was no tomorrow and in addition there was also a primary …

Greece is trapped in bailout talks with the creditors taking place in Brussels. The reforms list the Greek government submitted to the creditors is considered to be on “positive basis” but not sufficient enough. The lenders want measures with “stable performance and specific results”, that is austerity measures with immediate …

Prime Minister Alexis Tsipras pleasantly surprised Greeks with the announcement of a series of measures to boost the social welfare state, to provide aid to vulnerable groups of the society and tax breaks to low-incomers, to cut state expenditure and to overhaul the institutions. The Greek PM also rejected the …

After a planning that lasted several months,, Greek Finance Ministry set the guidelines for debtors to the the tax and customs offices. “Outstanding debts can be paid back in 72 or 100 installments,” mainstream media herald adding that “this is a big gift by the General Secretary of Revenues” to …

Prime Minister Antonis Samaras on Wednesday presented his party’s proposals for sweeping changes to the Greek Constitution, heralding reforms that would reduce the terms of state officials and increase the accountability of ministers as well as the transparency of political parties. The proposed reforms, outlined before an audience of New …

It’s always difficult to catch up with the news if there has been a blogging break for a couple of days. And it is more difficult when re-start blogging occurs on a Monday. Nothing extraordinary important occurred during the weekend. Bloggers need a break from time to time, to step …

What does a minister do,when a pupil  bursts into tears in front of him, overwhelmed by the shortages in education? He gives a pat on the shoulder and most probably also wishes ‘good luck’. Or something like that. Because in Greece of Troika and lenders, there is not much a …

 Yesterday KTG reported on Germany’s plan to establish an escrow account where apart from bailout tranches also revenues from tax and V.A.T. collection would be deposited. Even though Schaeuble’s proposal has been rejected by the Greek government, Berlin seems adamant to take the country’s finances under control. Financial Times: German-backed plan …

What has being circulating like a rumor in recent weeks, it slowly started to appear  in news portals and blogs, even though hardly in mainstream media:  That the overthrown of labour rights in private sector is due to proposals tabled by the Greek banks and not directly by the Troika. When …

With eyes turned to Euro Zone Summit and holding their breath Greeks monitor the overwhelming developments in Brussels, lurk for the slightest official or off the record comment that could hind or imply a positive or negative development for the Greek debt crisis. The aim is to reduce the massive Greek debt, to help …

Oh these EU technocrats, percentage calculators  and professional politicians. Especially those from the far away Brussels who take crucial decisions for the fates of the European taxpayers who enable them to live in glass cocoons. European Council President Herman Van Rompuy, currently in Athens, urged Greece to continue with unavoidable, ‘painful but necessary’ reforms and said it was vital …