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Tag Archives: cuts

1,100 power cut orders across Greece daily due to unpaid bills; Greeks mobilize

Greeks rushed to public power company on Easter Wednesday to arrange payment settlements for unpaid bills and avoid being completely cut off from the electricity supply, as providers keep issuing disconnections orders and push for their implementation. With the wholesale price among the highest in Europe and a government that …

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Rolling power cuts in Attica from Aug 6 to avoid blackout due to fires, HEDNO announces

The Greek Electricity Distribution Network Operator (HEDNO) will implement controlled rolling power cuts in Athens and Attica in order to avoid a blackout. The plan goes into force today, Friday, August 6, 2021. “There will be rolling power cuts in Attica in accordance with the instructions of the Independent Power …

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Greece’s top court rules for backdated payment of wrongfully cut pensions

The Council of State, Greece’s supreme administrative court, on Tuesday ruled in favor of the backdated payment of pensions that were wrongfully cut between June 2015 and May 2016. The court ruled in favor of pensioners who had appealed against the pension cuts, seeking the backdated return for the above …

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Stake of Greece’s snap elections: Taxation cuts to attract middle class voters

Taxation cuts for the middle class are top on the elections programs of the two parties racing to form the next Greek government: left-wing SYRIZA and conservative New Democracy. The stake of the snap election between the two main competitors for the government power is to attract voters from the …

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Austerity cuts: Tsipras to return €820mn to special categories of civil servants

Prime Minister Alexis Tsipras announced that certain groups of civil servants will receive retroactive a total of €820 million net for wage cuts during the economic crisis and the bailout agreements. The total amount is €1.4 billion gross including taxes, social security and pension contributions. The money will be paid …

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Court rules scrapping 13th & 14th pension was “illegal”, orders return of €11K

A  first-instance court in Thessaloniki ruled that austerity cuts scrapping the 13th and 14th pensions were illegal and ordered the pension funds involved to return the money. The court ruled that  70-year-old IKA pensioner Odysseas Tsologiannis has to await for a total amount of 11,184 euros. The pensioner had filed …

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Tsakalotos assures investors pensioners over 70 will start dying as of 2020 (video)

Finance Minister Euclid Tsakalotos ‘promised’ investors that Greek pensioners will be dead soon and that they will not have to worry about the sustainability of the pensions system. Addressing the 13th Greek Annual Road Show in London, Tsakalotos argued that pensioners who are over 70 years old now, will have …

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Power disconnections due to debts skyrocket by 313% in last three years

Thousands of households across Greece see technical teams of public power supplier PPC to disconnect the electricity supply on daily basis. Electricity disconnections to households and businesses due to debts to power suppliers have increased by 313% in the last three years. The official data of the Regulatory Authority for …

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What will happen if Greece abolishes the pension cuts despite creditors objections?

Greece insists that the austerity measure to further pension cuts as of 1. January 2019 is not necessary. Creditors try to avoid commenting on that, although the usual “Euro Sources Anonymous” claim that the euro finance ministers are against abolishing of the measure. “Greece’s budget 2019 will not include pension …

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Pensioners march in downtown Athens protesting new cuts of 18%

Hundreds of pensioners marched in downtown Athens in one more protest against cuts in main and supplementary pensions during the austerity years. The protest was staged as the recalculation of pensions is imminent due to the so-called Katrougalos-Law of 2016. The pensioners from the private and public sector said that …

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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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