Tag Archives: collapse

It was short after 6 o’ clock in Friday afternoon, when people heard a loud noise. Then they saw a huge gaping hole to have swallowed three cars.  Residents in the south Athens suburb of Tavros could not believe their eyes to see the huge hole to have opened in …

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President of the European Commission, Jean-Claude Juncker is a man that truly inspires. Not always in positive way, though. Sometimes like today, on an official visit to Greece, Juncker caught for one more time trying to sell mirrors and pearls to the locals. ” I always fought in favor of …

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Talks to reunify the divided island of Cyprus collapsed amid anger and recriminations in the early hours of Friday, marking the end of  a 10-day long process in Crans-Montana, Switzerland. The United Nations had said that the talks in July was the “the best chance” for a deal to end …

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Turkish President Recep Tayyip Erdogan suffered a health condition inside a mosque in Istanbul during the morning Ramadan prayers on Sunday. Reason for the health condition which some media described as ‘fainting’  was allegedly  the President’s low blood pressure due to diabetes and a heavy schedule. Some blamed also the …

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In crisis-hit Greece, some people suffer silently. In the empty four walls of their homes, isolated from the society, the poverty victims feel the pain of the unprecedented humanitarian crisis. Their plight is revealed the moment things have reached bottom. The drama of a family was exposed when one of …

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Greece’s third bailout program could fall apart as the International Monetary Fund has not yet made up its mind whether to take part in providing more aid, European Commission President Jean-Claude Juncker said. “Yes, it is on a shaky ground in the sense that we don’t see how the International …

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Short and shocking. But possibly also just stupid. Trump’s leading candidate for the post of US ambassador to the European Union, Ted Malloch, is said to have revealed the intentions of the US administration to Greece’s debt crisis. Malloch’s statement have set at least the Greek media on alert, his …

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Employees at Public Hospitals warn: “Greece’s Public Health Services are on the brink of collapse” Six years of economic crisis, loan agreements, austerity cuts and freezing of new hiring threaten the primary care health care system. A report published by the Panhellenic Federation of Employees at Public Hospitals (POEDIN) draws …

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Slightly touched and with the signs of a negotiations marathon, Prime Minister Alexis Tsipras described the agreement as “the best possible outcome” after 6 months of hard negotiations. Speaking to reporters covering the Euro Summit in Brussels, Tsipras “photographed” German Finance Minister Wolfgang Schaeuble describing him as the most extreme …

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Creditors’ last attempt to scaremonger Greece’s voters before the Referendum. German Finance Minister Wolfgang Schaeuble and his happily-waving-tail tabloid BILD joined forces to influence Referendum voters. In his interview, Schaeuble warns Greeks with a very vague plan of a “temporary exit from the eurozone” if NO wins. Saturday noon, the …

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“Without new money, salaries won’t be paid, the health system will stop functioning, the power network and public transport will break down and they won’t be able to import vital goods because nobody can pay” President of European Parliament Martin Schulz warned Greek voters one day before the crucial Referendum …

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Sunday… Monday… Tuesday… Wednesday… Four very crucial days that will determine whether the average Greek will still be able to withdraw a couple of euro banknotes from the ATMs, whether the pensioner will be able to get hold of the whole of his July pension.  Whether the Greek banks will …

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What did the economic adviser to PM Lucas Papadimos do right right between the two elections of 2012? He transferred €450 thousands abroad out of fear the country would collapse. Τwo years later, the same man, Gkikas Hardouvelis accepted PM Samaras’ offer and assumed the office of finance ministry of …

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Leader of Democratic Left Fotis Kouvelis submitted his resignation  just a few days after the European Parliament elections on Sunday that gave the center-left party a thin 1.20%. That is a total collapse for the party that it is claimed to have divided the left right after Greece entered the …

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Aha! Every time the Troika delayed a bailout installment, planes full of money allegedly arrived to debt-ridden Greece to feed the banks and satisfy demand for cash. It wasn’t the Greek politicians’ slogan “We can manage with a bailout delay” – as the repeatedly said – but it was the …

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That’s certainly the most provocative statement and the worst joke of this August: Greek Finance Minister Yiannis Stournaras warned that if home foreclosures won’t start banks would collapse. speaking to Sunday newspaper Realnews, Stournaras added that special provisions will be met with social and economic criteria to protect the poor. …

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Employees at Dromokaitio, the Athens  state hospital for mentally ill decided to block the entrance for new patients claiming the hospital was overcrowded and there was no place for new admissions.  With trowel and cement blocks, protesting employees started to build a wall right in the entrance of the hospital. Video: making …

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Economist Nouriel Roubini, the man who had been pushing Greece to exit the euro area for two consequent years, made a U-turn. “Stop supporting Greece would cause the euro zone to collapse” Roubini said in an interview to German daily BILD. He warned that a Greek exit would also trigger …

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Cancer patients are in dire need of live-saving drugs as the health system in debt-ridden Greece collapses. Cancer-patients supporting NGOs, and pharmacists report of serious shortages of the expensive drugs against cancer due to a) public spending cuts b) reluctance of pharmacists to stock out of fear they won’t be paid …

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” The financial situation in which Greece’s national insurance bodies find themselves is, to say the least, very serious. The organisations are the victims not only of the serious economic crisis in which Greece finds itself but also of the two-party system that has ruled the country for years and that …

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