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Tag Archives: George Papandreou

“Revolting” PASOK-MPs demand democratic procedures in Austerity Package voting

“To Give or Not to Give?” This question seems to torture 16 lawmakers from governing party PASOK currently contemplating on whether to give a letter they wrote to Prime Minister George Papandreou about the midterm austerity package that will have to be passed by the parliament in the middle of …

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German Handelsblatt to Greek PM: You’re a bankrupt… hero!

As if our life isn’t hard enough, a German newspaper writes an open letter to George Papandreou and declares more or less ‘You are an insolvent …hero’. Moreover, Gabor Steingart, Editor-in-Chief of business daily Handelsblatt triumphs that “There is a life after death” -as the article title assures. However as it has not been …

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EU Council President to visit Greece, Apr 12

President of the European Council Herman Van Rompuy will pay an official visit to Greece on Tuesday, April 15. He will meet with Greece’s President Carolos Papoulias and  Prime Minister George Papandreou. There will be a press statement at 3:00 pm. Later Van Rumpuy will deliver a speech at the Hellenic …

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Eurogroup Juncker warns Greece over Control Spending

It looks as if Greece can not quite convince its lenders that the debt-driven country is adamant on proceed to control spending. Eurogrou-Chief Jean Claude Juncker warned Athens of the importance of spending control and said that “We reminded the Greek authorities that it is important to stick to the targets for …

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How much austerity can we bear? Greece 2010 deficit at 10% (Reuters)

Save, Save, Save in a barrel with no bottom! Greece’s debt explodes, revenues  are not flowing, new budget deficits sprout every year. The wages and pensions cuts, the V.A.T. and taxes hikes made us poorer by 30-40% in 2010. Now new austerity measures will be added. Then the IMF/EU/ECB- representatives, currently …

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Greece to unveil Peace Initiative for Libya in following days

Greece will present a peace initiative for Libya’s conflict in the following days, The Washington Times reported. Greek deputy foreign minister Dimitris Dollis told the WT in a telephone interview that the initiative will be revealed “in the next day or two”.  Further, Dollis said “We require a transition from the …

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Soros in Athens: Obama supports Greece

Greek Prime Minister George Papandreou met with  financier, businessman and philanthropist George Soros on Monday noon.  Finance Minister George Papaconstantinou was also present at the meeting. The meeting was announced by the Prime Minister’s office without any further details. A day earlier, George Soros held a speech at a conference of …

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Obeidi in Athens-Greek FM: Libya appears to seek a solution

Greek Foreign Minister Dimitris Droutsas did not elaborate much on the content of Gaddafi’s message through his envoy, but said, it appears that the Libyan regime is seeking a solution. Further he said that Abdelati Al-Obeidi will visit Turkey tomorrow and later Malta. “Greece will continue to offer its good offices to …

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Gaddafi’s Envoy meets Greek PM in Athens

Libya’s deputy foreign minister Adbelati Obeidi  met Greece’s prime minister in Athens where he delivered a message from Colonel Muammar Gaddafi, officials said. The meeting has been concluded and Greek Foreign Minister is due to make statemnts on the issue, portal news247 reported. Abdelati Obeidi’s trip came after Greek PM …

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S&P downgrades Greece – PM lashes out against Rating agencies

Standard & Poor΄s Ratings Services said on Tuesday it lowered its long-term sovereign credit rating on Greece to ΄BB-΄ from ΄BB+΄ and maintained the rating on CreditWatch with negative implications.  At the same time, the rating agency placed its ΄B΄ short-term sovereign credit rating on Greece on CreditWatch with negative …

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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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Greek PM: Restructuring Could Bring Banks’ Collapse

Restructuring Greece’ss debt would probably cause the collapse of Greek banks, Prime Minister George Papandreou was quoted on Wednesday as saying, Reuters reported. “A restructuring would probably lead to the collapse of Greek banks,” Papandreou said in an interview to  German Stern weekly magazine. “Even German banks could collapse and …

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Greece – Libya: Coalition buildup at Souda Bay (video!)

 Coalition aircraft land and take off, naval vessels waddle in the blue waters of Souda Bay at the island of Crete. Due to its geographical closeness to Libya the Souda bay is playing a key role in the Odyssey Dawn operations against Libya. Information leaked to the Greek press claim …

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Greece urges Turkey to halt plans on nuclear plant in Akkuyu Bay

Athens urged Ankara to halt its plans to build a nuclear plant at the Akkuyu area, in the southern province of Mersin at the eastern Mediterranean Sea. An area situated hazardously close to an active earthquake producing fault line. Concerned after the nuclear crisis in Japan, Greek Prime Minister George Papandreou called his …

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Greece decides its military participation against Libya

While the NATO is still struggling to decide on how to proceed against Libya, Greece seems to have taken its politicaldecisions as to what role it will play in a joined forces operation against Muammar Gaddafi. Greek media reported tonight  that Greek armed forces will  participate in coalition operations, however not …

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Eurogroup and the Greek Deal – Few Questions open

A tough bargain took place yesterday in Brussels at the meeting of the Eurogroup leaders and Greek Prime Minister George Papandreou came out at 2:30 pm with a content smile on his face. At the following press conference he stressed  that Greece managed to achieve its goals.  Loan repayment extension of …

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Germany’s Angela Merkel: Greece can’t solve its problems in three years

Herewith we ascertain a change in the strict German position which was summarized into a short and firm “no economic concessions to Greeks”. German Chancellor Angela Merkel now pleads to an extension of Greek debt maturities and rejects restructuring of Greek debt. It looks as if the express visit by US Treasury …

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