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Tag Archives: Economy

Greece’s Libya participation to cost € 1 million per day

 I knew that Greeks are grumpy by habit and now it has been confirmed.  Hardly had the military operation against Libya started, some Greek television channel felt the need to report that the country’s war participation will cost one million euro per day! This spending refers to the participation of one frigate, …

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Five targetted by Cyber-Police on hoax e-mail claiming collapse of economy

 A fisherman from Messolonghi, a car worker from Chania, a self-employed from Athens and two other unidentified persons are targeted by the cyber-crime police as the senders of the hoax e-mail claiming the collapse of the Greek economy. The e-mail that was apparently sent simultaneously from internet cafes across the …

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Greece missed its deficit target for 2010 – but not much :)

The Greek government has narrowly missed its deficit target for 2010, reporting a shortfall of  23.1 billion  euros for the year. The figure was announced by the Finance Ministry’s General Accounting Office on Tuesday, compared with the €21.9 billion  target included in this year’s state budget. The agency said the …

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When The German Beatles rule the EFSF

Remember the lyrics from the Beatles’ song Yellow Submarine? There is a line “And the band begins to play” followed by trumpets playing “PrAMPrAMPrAM-PrAM!”  That was in the late 60’s but associative thinking to today’s world make songs like that a ‘classic’. Because they are diachronic.  The Beatles have fallen …

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IMF’s Ten Commandments to Greece: Enough is not Enough!

 The International Monetary Fund approved yesterday the 4,1 billion euros loan tranche for Greece. However even thought the IMF asserts that Greece has made progress under the strict austerity program, it stresses that the country needs more “major reforms to be designed and implemented”. In a press release by the …

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Greece: Finance Ministry G.S. resigns after Budget Revenues Shortfall

 A political bomb exploded in the hands of PM George Papandreou’s government after the General Secretary of Finance Ministry, Dimitris Georgakopoulos, submitted his resignation, apparently citing ‘personal reasons’. The government tries to downplay the resignation stressing that the resignation wasn’t due to political or management reasons. However in prime time news, Georgakopoulos …

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Greek youth: Champions without a Job – 39% Unemployed

Marina is 24 years old. One and a half years she got her diploma from the School of Economics. No matter how many CVs  she sent to several companies, Marina was unable to find a job up the present day. “I see no way out, no future” she say and turns …

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Greece: Default or Not Default? Drachma or Euro? Dye or Cut?

The dilemmas on Greece’s debt future seem endless: Default or Not Default? Drachma or Euro? Haircut or Extensions? With terminologies borrowed  from a hairdresser parlor around the corner and a bankers’ desk on the 245th skyscraper floor, the whole world is keep talking about Greece’s fiscal course: Survive or Fall. Economists and media are …

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Huffington Post:”What Greece needs now is a new hero” – Oh My!

There is a long, much too long internet article on Huffington Post, advising Greece to find a “new hero”!? In a rather superficial and irrational,  if not ‘naive’ and kind of  popularized psycho-spiritual approach, Vanessa Andris, first generation Greek-American, seems to ignore the real Greece’s  problems of systemic fiscal mismanagement. What …

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Greece For Sale – from Guardian.com.uk

Greece puts its islands up for sale to save economy Desperate attempt to repay debts also driven by inability to find funds to develop infrastructure on islands Elena Moya guardian.co.uk, Thursday 24 June 2010 21.33 BST Greece is raising cash by selling off an area of state-owned land on Mykonos …

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Pay your Taxes everywhere! Video

Funny video with the Tax Paying Card in French http://www.contribuables.tv/2010/04/01/qui-sait-ce-quils-taxeront-ensuite/ with Greek subtitles  http://www.capital.gr/capitaltv/player.aspx?id=717 by www.contribuables.org  Resist Tax Increases of course, I wasn’t able to upload the 2 videos. Who thought I ‘m perfect ?

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Protesters storm State TV during Prime Time News

Maria Houkli/Prime Time News/NET   Photo: copied from blogs Some 40  unemployed teachers have interrupted the prime time news of the Greek state television NET. The protesters – unemployed teachers –  have managed to enter the building of State Boradcast Corp. ( ERT) after  a scuffle with security guards  it. Education Minister Anna …

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The New Greek Patriot is Born

The New Greek Patriot is born –  after the announcement of the New Austerity Measures “New Patriotism” – the slogan of PM Papandreou to seek support for the harsh austerity measures

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Protesters harrash ex- chairman of Greek Parliament

Young 1st May protesters attacked former chairman of  Greek Parliament and member of governing party PASOK, Apostolos Kaklamanis, while he was walking through the shopping gallery Korai downtown of Athens.  According to media reports, the protesters surrounded Kaklamanis, insulted him and threw bottles against him. Kaklamanis managed to flee the  gallery  and rush …

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Greek Stock Exchange:Mini Crash! What analysts and bankers say

The Athens Stock Exchange experienced today one of the worst session of the last two decades with the Index having returned to the low of March 2009. “Trapped” in the scenarios of debt restructuring and state bankruptcy, Greek Stock Exchange became once again the vulnerable target of speculators. The Athens …

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