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Tag Archives: bankruptcy

Germania Airline files for bankruptcy, leaves thousands of passengers stranded

Berlin-based Germania Airline has filed for bankruptcy, and canceled all flights with immediate effect on Tuesday, February 5, 2019. The low-cost airline provided routes to some 140 destinations in Europe, Africa, and the Middle East, and offered full-service flights including food and baggage. The 37-aircraft airline flew around 4 million …

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Primera Air collapses, more than 400 tourists stranded in Chania, Crete

Budget airline Primera Air ceased operation over night leaving thousands of stranded holiday makers in twenty countries around the globe. Four hundred tourists have stranded at the airport of Chania on the island of Crete, local media report. Nordic budget airline Primera Air has become the latest European carrier to …

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International media in anti-SYRIZA frenzy but why sacrifice Greece?

Ayayayay! Six days before the crucial double Euro Working Group on Greece upcoming Wednesday and Thursday, and the international media pour their last drops of poison, before they enter the Easter vacations. In an unprecedented anti-Greek-government frenzy international mainstream media race for the Award of the Doomsday Scenario for Greece. …

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No Grexit, No Grexident. The IOUs are coming…!?

Forget the Grexit, the Grexident and the Drachma scenarios. They are out! The 20-April-bankruptcy script writers have invented a new solution: something like a parallel currency. No, not the older scenario option of using Drachma nationally and the Euro internationally. Something new: the IOUS! A form of alternative mean of …

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Greece’s Foreign Press Distribution company goes bankrupt

Do you wonder why you don’t find foreign newspapers and magazines in Greece? The reason is simple: the Foreign Press Distribution Agency in Greece went bankrupt and announced the suspension of its works. According to daily Imerisia,  the company has debts €748,509 to social security fund IKA, €3.5 million to …

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German FinMin Schauble on Cyprus: confused, absent-minded or just a tricky politician?

We all remember German finance minister Woflgang Schaeuble claiming that Cyprus was not systemically relevant for the euro zone. His slogan was more or less that the collapse of Cyrpus’s banking sector would not affect the eurozone as the impact could not be systemically. Today, Wolfgang Schaueble claimed exactly the opposite: that …

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SPIEGEL: Only Bankruptcy Can Help Greece

 What a disappointment for Greece’s creditors. That fact that Samaras three-party coalition government plans to ask for a two-year extension to adjust its fiscal targets seem to throw the country’s lenders into deepest depression. They allegedly cannot eat or drink neither can they enjoy their vacations. The lenders, not the Greeks. …

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Survey: 48.1% Greeks Say “Yes” To Bankruptcy?

No matter what dilemma PM Lucas Papademos puts on the table (Bailout+Austerity or Default), the Greek people seem to have a different opinion. They haven’t elected him to be prime minister anyway.  In a public survey conducted by RASS, 48.1% of the Greeks say “Yes” to Bankruptcy, while 38% say “No”. The …

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CEO of Alter TV CEO arrested for €1.2million unpaid VAT‎

Greece’s Economy Police proceeds unabated to the detention of big scale public debtors and on Monday afternoon the CEO of the privately-owned Alter television channel Kostas Yiannikos was arrested by the financial crime squad of the Finance Ministry (SDOE)  for failing to pay 1.2 million euro in VAT since the start of 2011. Yiannikos …

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New Greek Patriotic Doctrine: “Pay or Argentina!”

 That the majority of Greeks and their elected politicians live in parallel universes is not a secret. The deeper the crisis, the wider the gap. Then while the citizens struggle to cope with a tsunami of taxes, levies and high prices, the politicians think that the crisis in not here …

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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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