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Tag Archives: George Papaconstantinou

Lagarde-List burns ex Greek Finance Minister Papaconstantinou

For former Greek Finance Minister George Papaconstantinou the New Year’s Eve fire cracker went of earlier than planned. Not on upcoming Monday night but on Friday noon. Reason for the drama unfolding before our eyes, were the claims that two of his relatives had bank accounts at the HSBC, Geneva branch. Nothing …

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Greek Statistics Criminal Probe – ELSTAT Chief to Testify

We in Greece are used to read and write about cases dragged from week to week, from month to month and from year to year. Such a case is the allegedly falsified budget deficit of 2009, that was apparently revised upwards in order to force Greece to take harsh austerity measures. Last September …

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New “Greek Statistics” Scandal on the way?

Remember the Greek Statistics scandal where deficit was trimmed down? Allegedly there is a new scandal with Statistics when the deficit went … up, should we believe Zoi Georganta, board member of the Greek Statistics Authority (ELSTAT). Georganta and some other board members were sacked on Thursday by Finance Minister …

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Greece: Government Reshuffle Postponed

Greece’s government reshuffle will be announced on Friday, June 17 at 9 a.m.  At 1 pm the new ministers will take  their oath. Prime Minister George Papandreou can seek vote of confidence at the Parliament the earliest on Sunday. Unconfirmed information claim the confidence vote to take part on Tuesday, …

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“Solidarity Tax”: Middle Classes to pay the bill, again!

Unbelievable! This government doesn’t get it! It is again the low incomes that will pay the bills of the huge debt! According to latest information, the special solidarity tax will be contributed by the low incomers. During the session of the Economics Committee at the Parliament, Finance Minister George Papaconstantinou …

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Greek Fin Min Announced the Austerity Measures

Greece Finance Minister George Papaconstantinou announced in a press conference on Friday the additional austerity measures that will drive to despair millions of Greeks. Fast Track austerity or Fast Track poverty. Read some of the measures that will hit the pockets of the average Greek or even Foreigner who pays …

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Greeks Trade €12bln Loan-Tranche for €6,5bln Revenues

The IMF/EU/ECB-Troika gave the green light for the release of the fifth bailout tranche of the 110 billion euro loan. According to a statement by Greece’s Finance Ministry “The discussions of the Greek government with the representatives of the EU, the ECB and the IMF concluded today positively”. The Greek …

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Moody’s downgrades Greece lower than …Egypt

Another brick in Greece’s wall and in the heads of our government in general, and Finance Minister’s in particular. Rating Agency Moody’s downgraded Greece and placed it below … Egypt! Reuters just reported that Moody’s slashed Greece’s credit rating by three notches on Monday due to an increased default risk, raising …

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Total Failure of IMF-Program in Greece

Eleven million Greeks are depressed – one day after the news austerity measures package proclaiming the sale off of the country, taxes hikes and pensions decreases. And there comes the Finance Minister George Papaconstantinou admitting the total failure of the economic program as dictated, imposed and implemented with the consulting aid of Greece’s …

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Greece: A Poor & Broke Country, but with Dignity…

I don’t quite understand why people – media included- are upset about Greece’s Finance Minister flight to Washington with prime-ministerial jet. George Papaconstantinou, the finance minister of a debt-hit and disparaged country, had to attend the spring session of International Monetary Fund. Instead of taking a commercial flight, he jetted …

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Greek FinMin rules out Debt Restructuring

Greek Finance Minister George Papaconstantinou said Friday he “absolutely” rules out the prospect his country΄s sovereign debt might be restructured, economic portal Capital.gr reported. “I am not the only one” who rejects the idea, Papaconstantinou said on the sidelines of a conference in the northern Italian town. The minister spoke …

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Greece: Monster of Unemployment grows but Political leadership optimist

The monsterof unemployment in Greece is growing and threatens to get out of control. Concellor of private sector labor union GSEE, S. Robolis informed members of the Greek Parliament that unemployment is estimated to reach 22% at the end of 2011 and the number of jobless will reach 1,200,000 people. …

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Upd: Greeks to wear an IMF-tailored suit worth 1,8 billion euro

Additional and harder austerity measures are on the way as the Finance Ministry is obliged to fill up the black hole  that appeared in state revenues in the first two months of the year. Ten millions of Greeks will see themselves forced in one and only  IMF-tailored suit worth 1,8 billion …

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