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Tag Archives: austerity measures

German FinMin: Greece’s repayment extension agreement maybe not sufficient

The March 11- agreement on loan repayment extension and interest rate reduction may not be enough to restore the economy of Greece, said German Finance Minister Wolfgang Schaeuble on Saturday. Speaking at a press conference in Codollo, Hungury after the Eurogroup finance ministers meeting Schaeuble stated that should Greece be unable to …

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Athens: Two historical hospitals to suspend services

 Greece health condition is deteriorating. Life supporting organs collapse, the one after the other. The serum tubes dry up. As the patient dies, there seem to be no need for many hospitals. Aretaieion and Aiginiteion, two historical university hospitals in Athens downtown are reportedly to close down.  The managers of the …

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Bithikotsis: Be Patient – Dedicated to New Austerity (Greek music)

 What if a debt restructure with all its negative impact for an endless poverty for the people.. what if new austerity measures will come… One is the recipe for the future: Patience! “Be patient” is another Greek classical song in the divine music of Stavros Xarchakos and the metallic voice of Grigoris …

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Did you know Greek Post Office closes down branches?

I admit I didn’t know that. In fact I hadn’t even realized it as I personally haven’t took advantage of a post office services  for years – even in the years I was living abroad. But I took notice of this otherwise not known issue by reading a local newspaper. …

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How much austerity can we bear? Greece 2010 deficit at 10% (Reuters)

Save, Save, Save in a barrel with no bottom! Greece’s debt explodes, revenues  are not flowing, new budget deficits sprout every year. The wages and pensions cuts, the V.A.T. and taxes hikes made us poorer by 30-40% in 2010. Now new austerity measures will be added. Then the IMF/EU/ECB- representatives, currently …

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IMF/EU/ECB-Troika’s non-stop pressure on Greek Government

New and inevitable measures are on the way and the IMF/EU/ECB control units are adamant to put pressure on the Greek government to speed up with necessary public spending cuts even blackmailing with the 5th tranche of the €110 bailout.   According to newspaper Proto Thema, the Troika tough guys …

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Thessaloniki: Police Station to be evicted

A police station in Thessaloniki has received the magic paperfor eviction. A police union representative was telling this morning on television – I don’t remember which channel – that the Ministry had asked a 20% rental decrease but the two-storey building owner did not accept. So the case landed in the …

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IMF/EU/ECB to nail and tie Greece on fiscal discipline and measures

Greece’s lenders Troika is here to stay. It looks as if the representatives of International Monetary Fund, European Union and European Central Bank won’t leave Athens until they have tied down with nails and ropes Greece’s government officials on further economic measures and revenues increases. According to economic portal Capital.gr the Troika guys …

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IMF-Chief asks Cuts for Greece’s Public Sector Wages

 The Chief of International Monetary Fund could not be more clear! “Public Sector Wages” was the magic sentence he spitted out. Referring to Greece’s economic problems, Dominique Strauss-Kahn said that what Greece need is not debt restructuring but combat its biggest problem, which is competitiveness. “The problem of Greece has …

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Athens: One protester injured during clashes with police (video)

 One protester was injured in the head during clashes with police in noble Athens district Kolonaki, in the city’s downtown. The incidents started when municipality workers attempted to approach the Ministry of Interior but were hindered by the riot police. Protesters tried to break the police ‘wall’, the police fired teargas and …

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Youngster arrested in …

The latest from austerity is Greece: “A youngster  was arrested today in possession of small amount of salary! He claimed it was intended for personal use… ”  This genious news was found in FB, posted by user Di.Di.

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IMF-austerity even for Army Chiefs

Gone are the times where high ranking officials would sit relaxed at the back seat of a limouzine and let the driver slender them though the avenues so they could meet their  official appointments. With strict austerity measures,  state spending cuts and gasoline prices nearing 2 euros per liter these …

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Survey in Private Sector: Dramatic cuts in wages & personnel for 2011

This is a dramatic development in the private sector. One in ten companies plan to cut salaries in 2011, is the result of a survey conducted by the KPMG polling company. At the same time, 4 out of 10 companies will give ‘zero’ increases and will decrease the number of …

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Greek Golden Boys: Guard earns €110K in state-run enterprise

€ I know I will make up your day with the following post! Then it answers all questions about how Greece went bankrupt and why the country’s debt is on the climbing path. And there is no way out unless radical changes and radical wages cuts take place. There is this …

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Athens: Austerity in Public Services closes down Kindergartens

Cutting personnel is one thing, but it becomes problematic when it creates a deadlock and public services are getting hindered. Then you cannot cut the number of citizens. Severe shortages are observed in 87 kindergartens in Athens downtown after the termination of work contracts of 250 employees. However the children …

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Greek economy? Thanks for asking…

How is Greek economy doing?  Apart from the failure to combat tax evasion, to cut state spending by trimming the  state apparatus and to boost development to escape recession…. thanks for asking! A BBC survey conducted among Euro economists show no good ahead. Two-thirds of the 52 respondents forecast a default! “The …

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Greek Surgeon detained for 500 euro “Fakelaki”

A state hospital surgeon was arrested Monday afternoon in Thessaloniki and is to be charged with ‘ passive corruption” for taking 500 euros for a surgery. According to a complain filed by a patient’s wife the surgeon had demanded 500 euro ‘fakelaki’ in order to operate her husbands. The wife had informed …

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Greece: You know there is an economic crisis, when…

When your otherwise silent neighbors start quarreling…. When voices full of anger start coming through walls and stairways and a personal drama is taking place behind closed doors and windows… When a man yells “Think, I’m not looking for job?” and a woman shouts “Shhh, they can hear us!”  When the sounds of …

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Greece’s Recession at 6,6% Q4/10 – Wanna see how it looks like? (pictures)

Greek economy shrank and recession hit unprecedented 6.6 percent in the fourth quarter of 2010, Greece’s Statistic Authority announced. At the same time, the total consumption spending fell 67 percent in the October-December period, compared with the same period in 2009 (public consumption fell 1.9 percent and private consumption fell …

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Don’t Ask the Sky (music video)

This has been an all times Greek classic. “Min ton rotas ton oyrano” – Don’t ask the sky. It was composed by Manos Hatzidakis 1959 for the film  “To nisi ton gennaion” (The island of the Brave) about the battle of Crete during the Nazi occupation. Originally it was sung …

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