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German finance minister Wolfgang Schaeuble and the International Monetary Fund have reportedly found a solution to the Greek debt relief problem. The solution can be described in one single word: DELAY. According to German Handelsblatt, several unnamed sources said that Berlin and the IMF are very close to a solution … Read More »
EU Commission, IMF sent Greeks two MoU drafts before talks resume
Greece and foreign creditors resume talks on Tuesday afternoon after a long break. On the table are the so-called “reforms” prescribed under the international bailout and further debt relief. The aim is to reach a comprehensive deal (staff level agreement) before the Eurogroup meeting on May 22. Talks are over … Read More »
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 … Read More »
Greek Surgeon detained for 500 euro “Fakelaki”
A state hospital surgeon was arrested Monday afternoon in Thessaloniki and is to be charged with ‘ passive corruption” for taking 500 euros for a surgery. According to a complain filed by a patient’s wife the surgeon had demanded 500 euro ‘fakelaki’ in order to operate her husbands. The wife had informed … Read More »
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 … Read More »
Greece’s Recession at 6,6% Q4/10 – Wanna see how it looks like? (pictures)
Greek economy shrank and recession hit unprecedented 6.6 percent in the fourth quarter of 2010, Greece’s Statistic Authority announced. At the same time, the total consumption spending fell 67 percent in the October-December period, compared with the same period in 2009 (public consumption fell 1.9 percent and private consumption fell … Read More »
Austerity hits Greek Corruption, too – Fakelaki Price List in times of Recession
IMF /EU imposed austerity measures have hit not only employees, pensioners and entrepreneurs. The strong recession also dumped the prices in the corruption prices lists. Doctors and Tax officers saw themselves forced to lower the prices for infamous but famous Greek fakelaki* as their ‘customers’ declared economic unable to be as generous as … Read More »
Greece For Sale – from Guardian.com.uk
Greece puts its islands up for sale to save economy Desperate attempt to repay debts also driven by inability to find funds to develop infrastructure on islands Elena Moya guardian.co.uk, Thursday 24 June 2010 21.33 BST Greece is raising cash by selling off an area of state-owned land on Mykonos … Read More »
Stranded in Greece? No worries! Greek tax payers will come up for room & board!
Flight canceled? Train stuck ? Cruiser off shore? ARE YOU A TOURIST STRANDED IN GREECE? NO WORRIES! Greek Tourism Minister will pay you extra room & board. But only if you are a foreign tourist! Greek tourists and tax payers seem to be excluded. Greece ‘to pay costs for stranded tourists’ – … Read More »
Sudden Winter Outbreak in Greek Labor Market!
I have been complaining the whole day about the heat-wave in Athens. A heat that went even higher as Greece bet Nigeria in Mundial 2010. But now, as we head towards evening, temperature drops. Not much, but enough to let me sit on a comfort chair and enjoy my plants and flowers on … Read More »
Sorry seems to be the hardest word!
Amid the song and dance of famous “Wedding Party on a Battleship” – the AVEROF, you know… -, which became talk of the country, I forgot, or better say, I didn’t catch up with other important news and issues that affect crisis-suffering Greeks. You may have understood by now that … Read More »
The Greek Patient: Hospitals' Supplies Shortages
FATAL SHORTAGES IN GREEK HOSPITALS – SUPPLIERS BLACKMAIL THE GOVERNMENT IS THERE A WAY TO ESCAPE BRIBERY? Man carries away his Greek Patient wife from a state hospital after doctors and nurses attempted to steal her gauzes Greek Hospitals… a place to avoid The pictures in the greek state hospitals has always … Read More »
Greeks Protest Prices at Super Market!
Unprecedented scenes unfolded in a big Super Market downtown Katerini (Central Greece), when some 50 people, arriving simultaneous at payment counters asked for a 15% discount. As expected the management of the Super Market refused to grant the requested discount. And what did the consumers do? They simply walked out … Read More »
ASE ingores Moody's moody move – Rehn's Attack
from capital.gr Athens Stock Exchange seems to ignore Moody’s downgrade of Greece’s credit rating to Junk status. Greek Stock Market opened low this morning – even losing 2% at some point – but quickly managed to recover. Currently (14:00 local time) the General Index advances 0.57% at 1,549,3 on a … Read More »
Greek Stock Exchange: "Black Monday"
Shares at the Athens Stock Exchange are traded at the lowest level since 1998! The Index is down, at 1403,92 units as investors went into a massive sell off. General Index closed at 1.403,92 units losing -5.45% Significants losses for the Banks, – 5.64% Black Friday 04/06 and Black Monday 07/06 … Read More »
Greece's Bankruptcy, Exit the Eurozone: Where these scenarios come from?
All these Leaks about Greece’s bankruptcy, its Debt restructuring and return to Drahma…. where do they come from? by Petros Leotsakos – Journalist – bankingnews.gr Shades of indications but not evidence have started to emerge about who leaks all these “doomsday scenarios” about Greece’s bankruptcy and return of Drahma. … Read More »
"Black Friday" at Greek Stock Market – Where are my Blue Chips?
<!– Download the files with the historically adjusted prices of the new ATHEX sector indices. (Period covered 1996 – 2005). –> ↓What happened today at the Greek Stock Market ? Greek Stock Market experienced a dramatic sharp plunge today. Athens Stock Exchange is down -78,63 or -5,03% at 1.484,9 units Losses of Banks are … Read More »
Alkaios in Eurovision: OPA! I am speechless!
Greece: Giorgos Alkaios & Friends OPA! EUROVISION 2010 – With OPA explanation! Giorgos Alkaios & Friends will perform their OPA!*** in Oslo tonight. The Telenor Arena will open for the first Semi-Final of the 2010 Eurovision Song Contest. This morning I watched the OPA-Video for the first time. I started … Read More »
Greek Minister Tzakri: Another Blond to Bite the Political Dust?
newspaper APOKALYPSEIS Hardly has the dust of Gerekou- scandal settled down, another Blond Deputy Minister is likely to line to the queue to hit the road, if the accusations proven true. Theodora Tzakri, Deputy Minister of Interior, Decentralization & e-Gevernment is being accused to have allegedly ordained 36 cousins, relatives … Read More »
Greek Financial Crisis causes Nightmares
THIS MORNING I WOKE UP SCREAMING…. I woke up screaming this morning…. I had a nightmare… I was taken “hostage” by a group of people. Were they the notorious and scary Bonds-Speculators? Were they my devoted blog-visitors? Or even the no-returning visitors? In my dream, we were all in a … Read More »