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Tag Archives: cost

BoG Stournaras: ECB must reduce rates four times within 2024

The European Central Bank must cut borrowing costs twice before the August summer break and another two times before the end of the year, without being influenced by the US Federal Reserve, according to ECB Governing Council member and governor of the Bank of Greece (BoG) Yannis Stournaras. “It is …

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Pharmaceutical Cannabis prescribed in Greece for first time

For the first time in Greece, patients can find relief from chronic pain and other symptoms with pharmaceutical cannabis prescribed by a medical doctor. This was reported by the state-run news agency amna and other media over the weekend. The drug can be purchased at the pharmacy and at the …

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Purchase of 35 UH-60M Black Hawk helicopters is “one way street”, says Greece’s Army

The purchase of 35 American UH-60M Black Hawk helicopters will be the first program that the General Staff of Land Forces and its new leadership under Chief Lieutenant General Georgios Kostidis will be called upon to negotiate. According to military issues website onalert.gr  negotiations are due at the end of …

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Greek FinMin to table supplementary budget to cover extra aid to households & businesses

Finance Minister Christos Staikouras announced on Thursday he will present a supplementary budget to cover the cost of additional aid for households and businesses hit by high energy costs. Speaking to state boradcaster ERT, the finance minister cited “satisfactory” fiscal data. Staikouras said the performance of tourism and revenues from …

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Poll: Price hikes cause of concern, ND-SYRIZA difference drops to 10.5%, no technocrats gov’t

Difference between ruling conservative New Democracy and main opposition party left-wing SYRIZA has decreased to 10.5% in the preference of potential voters as the high energy cost and the price hikes are a reason of concern for 47% of the Greeks. At the same time, Greeks seem to turn down …

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Lockdown costs Greek economy as much as €3bln per month, says finMin

Greek Finance Minister Christos Staikouras said on Tuesday, said a nationwide lockdown in the country as a result of the Covid-19 pandemic translates into losses of three billion euros on a monthly basis, whereas the losses are currently calculated at 2.7 billion euros monthly. Specifically, he said that for every …

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Athens airport to offer COVID-19 test to travellers and staff

The Athens International Airport (AIA) has announced that it will offer coronavirus (Covid-19) testing, upon request, to the arriving or departing travellers and Athens airport staff as of Wednesday, August 5, 2020. The initiative will be carried out in cooperation with the Athens Medical Center and with the aim to deal effectively …

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Cost of electricity in Greece the highest among EU’s 27

Greece had the highest average cost of electricity among the 27 member-states of the European Union in the first quarter of 2020, a report by the European Commission published on Thursday has shown. The Greek electricity wholesale rate, which is also used to determine the retail rate, stood at 50 …

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Coast Guard to fine water sports lovers who ignore weather warningss

Bold water sports lovers who ignore bad weather warnings will not only be fined but will also come up for the cost of their rescue by the Greek Coast Guard. In a statement the Greek Coast Guard said on Thursday that it activates a law of 2002 about relevant issues. …

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€12,000 for a Cake? Angry Greeks force Minister to pay from own pocket

Agriculture Minister Makis Voridis had to follow the tradition and cut the New Year’s Cake for the ministry’s personnel. He ordered a Vasilopita and posted its cost on the government website for ministries expenses: proud 12,000 euros. A former deputy agriculture minister of SYRIZA denounced the expense saying that she …

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Greece to upgrade F-16 and Mirage-2000 at a cost of half a billion euros

The Ministry of National Defense has submitted a bill to the Parliament including among others the upgrade of fighter jest F-16 and the Follow-On Support/FOS of Mirage-2000. The total cost exceeds half a billion euros. The draft law envisages enhancing the operational performance and dynamics of F-16 aircraft as proposed …

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First cremation facility in Greece opens in Ritsona, East Attica

A historic moment for Greece: the first cremation facility in Greece has started its operation a couple of days ago in East Attica, 75 km away from Greek capital Athens. The facility is private. Board member of the Ritsona Incinerator and president of the Greek Cremation Society, Antonis Alakiotis, said …

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Weather damages in Crete’s infrastructure may exceed €100mn (videos)

The video shot by a drone shows the damages and the floods in Chania Prefecture caused by barometric low Okeanis that stroke the West past of Crete with powerful rainfalls. It is mostly the infrastructure on the island that suffered immense destruction due to landslides and soil erosion. The road …

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New Heraklio Airport on Crete to cost €1.5bn, create 1,500 jobs

Indian infrastructure company GMR Airports Limited, along with its Greek partner Terna Group, will develop the new international airport of Heraklion in Kastelli, Crete, after Greek Transportation & Infrastructure Minister Christsos Spirtzis signed the concession agreement. On Friday, the minister and the consortium signed a concession agreement for design, construction, …

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