German Chancellor Angela Merkel considers that the situation in Greece of strict austerity, bailout agreements and income decreases “is in a much better state than a year ago.” She also expressed confidence that when Greece implements the outstanding 100+1 austerity measures of the third bailout agreement and its revisions “more …
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ELSTAT: Greece’s GDP shrunk by 26% since 2010, public debt surged
Greece’s GDP shrunk by 61.6 billion euros (26 percent) since 2010, the time span when three bailout memorandums with institutional creditors were signed and implemented, figures showed this week. Additionally, general government revenues decreased by five billion euros, with public sector wages, pensions and welfare benefits cut by 19.13 billion …
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Cancer patient postpones ‘death’ to secure pension for his widow in austerity Greece
A cancer patient postponed his death for a couple of days in order to secure pension for his wife and future widow. The terminally ill man was asked doctors to put him on life supporting machines and prolong his life for just five days in order to secure that his …
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For every €100 a Greek self-employed makes, €82 go to taxes and contributions
Greeks will work an average of 203 days this year to pay taxes to the state and social insurance contributions, according to research conducted by the Dragoumis Center for Liberal Studies (KEFIM) to raise awareness about tax freedom day – the first day of the year in which a country …
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Greek government new austerity package freezes pensions and collective bargain hikes
In a Bill for Fishing, Greek labor ministry quietly tabled two amendments that among others freeze future pension hikes as wells as hikes in collective bargains. The two amendments are part of a 5-amendment package of austerity measures to please the creditors. The package is the rest of prior actions, …
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Why Schaeuble insists Greece needs to have 3.5% primary surplus
German finance minister Wolfgang Schaueble has once again criticized the International Monetary Fund in the debt debate with the European creditors about Greece. Should the pessimistic growth assumptions of the Fund come true, all aid programs for Athens were in vain, he said at an event in Berlin on Tuesday. …
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Extra Levy on Water for Greece households and farmers for the sake of water companies privatization
Not one day passes without an extra charge, a one more charge that empties the Greek pockets and pushes thousands into poverty. Whether unemployed, low-pensioner, vulnerable group of the society, whether employee or entrepreneur, the nightmare of additional financial burden does not stop. Out of the blue, here comes an …
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Schaeuble considers new austerity measures at end of Greek program in 2018
Greece struggles to reach a deal at the Eurogroup meeting on Monday, May 22 2017. German Finance Minister Wolfgang Schaeuble said he hoped for a political agreement on Monday’s Eurogroup. However, the deal the German minister hopes to happen is not just the deal Greece and the International Monetary Fund …
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Parliament adopts austerity bill, Tsipras kicks ball in creditors’ court
Lawmakers of the coalition government left-wing SYRIZA and nationalists Independent Greeks adopted the omnibus bill with new austerity measures 4.9 billion euros for the years 2018-2021. prime Minister Alexis Tsipras said right after the voting he expects form creditors to commit to debt relief measures. All 153 government lawmakers voted …
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Sudden death for widows’ pensions: New criteria and cuts to push thousands into poverty
The implementation of the pension reform of 2016, leads to sudden death of incomes for survived widows and pushes a large portion of population to poverty. Widows’ pensions will by cut down to 50 percent of the deceased’s pension, new age criteria go into effect this month. According to so-called …
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Living like Homeless: Firefigthers deployed for safety of Fraport airports
Firefighters transferred to the Fraport airports of the cosmopolitan islands Mykonos and Santorini are literally struggling to survive because the low wages do not allow them a descent living. They sleep on mattresses on the floor, inside fire trucks or even ambulance vehicles, they can hardly get a meal for …
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Will EU and German support convince French euroskeptics to vote for Macron?
Ex banker, ex socialist and political outsider Emmanuel Macron won the first round of presidential elections in France on Sunday. French elections results have been perceived with a sign of relief in the European Union. A fine day for Europe and Greece, where creditors are expected to return to Athens …
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Guest Post: Ordoliberalism, Calvinomics and Austerity in Europe
What is happening to Europe of austerity? Difficult to explain. Cheshire Cat has a post about it. Calvinomics I have given up using economics to explain the rationality behind what happens in Europe. ‘European values’, as represented by every treaty since Maastricht 1992, are the rules and order of ordoliberalism. …
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Greek households struggle in the dark as unpaid electricity bills pile up
Electricity bills pile up. It is not the pure cost for electricity that makes it unaffordable to many Greek households struggling with unemployment. It is the extra charges incl. municipality taxes and state broadcast fees doubling the amount a consumer has to pay to the Greek Public Power Company. There …
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Low-pensioners see cuts of 30% as pensions reform 2016 goes into effect
While creditors and Greece negotiate for further pension cuts after 2019, the provision of the pension reform of 2016 goes into effect as of today. Especially affected are pensioners with disabilities, pensioners with 15 years of work and widows, who will see their pensions cut by 30%. Workers who went …
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Austerity: Public Hospital halts chemotherapy, turns away cancer patients “because “budget exceeded”
The public hospital in Volos has reportedly stopped providing chemotherapy to cancer patients and sends them away because the monthly budget has been exceeded. Public Hospital workers unions denounce and media report that the oncology unit stopped the chemotherapy treatment since last Monday and by order of the hospital commander. …
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ETUI: Wages in Greece fall at 3.1% annually since 2009
Workers are still not feeling economic recovery: wages are lower now than they were eight years ago in seven EU member states, according to new research published today by the European Trade Union Institute (ETUI) and European Trade Union Confederation (ETUC). The research also shows that in 18 EU countries …
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Labor Institute: Real Unemployment at 30%, monthly salary of €1,000+ in public sector
Real unemployment in Greece is at 30% and the salary gap between the private and the public sector is growing. These are some of the findings of the annual report 2016 conducted bu the Labor Institute of the Confederation of Greek Private Sector Unions (INE-GSEE) about the state of laborers …
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PM Tsipras: The era of austerity is over
Greek Prime Minister Alexis Tsipras says the era of austerity is over for his country, painting a positive picture Friday of reforms the country has agreed to take after its latest bailout program ends in 2018. Speaking in parliament, Tsipras described the deal reached Monday as an “exceptional success” and …
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A shocking report: Greeks sink yet deeper in poverty
How can Greeks live on a monthly pension of just a little above 300 euros? They cannot. Rent or property tax and utility bills swallow the meager income month in, month out. Hardly is a euro left for food or other items that cover daily needs. A food package from …
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