November 16, 2011
Economy
Former Greek Prime Minister Costas Simitis wrote an article to French newspaper Le Monde, directly answering Nicholas Sarkozy claims that “Greece falsified statistical data in order to join the Euro Zone.” Simitis also indirectly gives an answer to Le Monde article claiming Goldman Sachs was the major Greek debt falsifier. Costas Simitis: …
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November 9, 2011
Economy
The nightmare of Greek banks continues non-stop and deposits withdrawals move in fast track under the tropical of emergency taxes and income decreases in times of economic and political instability. Greek households and enterprises withdrew a total of 5.5 billion euro in the month of September, according to data released by …
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October 25, 2011
Economy
There is a strong public confrontation between the Greek government and the Greek banks as the latter oppose a haircut of 50% or more percentage. Tuesday morning, prime minister George Papandreou while calling political parties and citizens to show ‘collectedness’ ahead and after the critical EU Summit on Wednesday, describing the ‘haircut’ …
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October 10, 2011
Economy
I dont’ know if I should laugh or cry – or even scream about what Finance Minister Evangelos Venizelos told parliamentary committee on economic affairs. “Unfortunately incomes will fall to those of 2004 and living stands as well” he said and stunned Greeks, who feel they live already in the …
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September 29, 2011
Economy
German parliamentarians on Thursday approved the planned expansion of the European Financial Stability Facility (EFSF) with 523 voting in favor, 85 against and three abstentions. The bill’s passage is a vital hurdle in euro-zone efforts to increase the fund’s lending capacity from its current €250 billion ($338 billion) to €440 …
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September 19, 2011
Economy
Greece’s lenders, the so-called Troika allegedly demands from Athens to stop paying public sector pensions to those who haven’t concluded the 55th year of age yet. This claim is being published by TO VIMA newspaper online edition on Monday, hours before the crucial conference call between Venizelos and the Troika targeting the additional …
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July 13, 2011
Economy
Greek Finance Minister Evangelos Venizelos confound us yesterday and today the term ‘selective default’ is on everyone’s lips. Journalists and economists of the country have poured a lot of ink and have consumed enough gray matter to explain the term and its impact on our daily lives. However since the …
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July 6, 2011
Economy
The withdrawal of bank deposits continued unabated in May and according to reports, households and enterprises got 4.9 billion euro from their private or business accounts. The reasons are multiple: Partly is the panic about the Greek economy as in May the 5th loan-tranche was very much hanging on an uncertain …
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May 26, 2011
Economy, Society
More and more Greeks turn to local banks and withdraw their deposits out of fear of a possible bankruptcy leads people to withdraw their deposits from banks. News portal news247 has a very good report on the issue, a report that coincides with the fears of my friends and relatives. The …
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March 24, 2011
Economy
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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March 17, 2011
Society
A fisherman from Messolonghi, a car worker from Chania, a self-employed from Athens and two other unidentified persons are targeted by the cyber-crime police as the senders of the hoax e-mail claiming the collapse of the Greek economy. The e-mail that was apparently sent simultaneously from internet cafes across the …
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March 14, 2011
Economy, Uncategorized
A new twist occurred between the former almost mergers Alpha Bank and National Bank of Greece, as Morgan Stancley acquired 5.1% of Alpha stakes. Some Greek economic portals talk about an “aggressive takeover” by the National Bank of Greece and others report of huge acquiring of Alpha Bank shared by …
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March 14, 2011
Economy
Athens Stocks and Greek banks soar on Monday, hitting records in gains in the wake of the resolutions of the Eurpean Summit in Brussels, last Friday and Saturday. (13:48 local time) Across the board, the General Index is at 1659.39 units, up 5.02% in a turnover of EUR 154,53 million. …
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March 8, 2011
Economy
Athens Stock Market suffered the heaviest losses since the beginning of the year and plunged at -3.81% and banks down at 6,26% in the shadow of Moody’s downgrade. Athens Stock Exchange is on a falling course and banks experience massive liquidation a day after rating agency Moody’s downgraded Greece’s credit …
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March 1, 2011
Economy
A Greek high rank prosecutor ordered a preliminary investigation into the trading of stocks of the National Bank of Greece and the Alpha Bank. Greece’s Capital Market Commission also ordered an investigation into the same affair, focusing on the period between February 8 and 21, beginning with National Bank’s first approach to …
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February 28, 2011
Economy
The shares of National Bank of Greece and Alpha Bank are under the microscope of Greece’s Capital Markets Commission, news portal Zougla.gr reported. The screening refers to the trading of the shares in the period of time between January 18, when the administration of NBG approached the management of Alpha for the first time, …
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July 16, 2010
Economy, News
Piraeus Bank bided for the Greek government’s stakes in ATE Bank and Hellenic Postbank, Piraeus Chief Michallis Sallas announced yesterday at a press conference. The bid is at total EUR 701 million and thus in cash. Greek Finance Ministry said in a statement “it is studying the offer”. But for …
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July 15, 2010
Economy, News
Piraeus Bank, the fifth-biggest lender in Greece, has submitted a proposal to the Greek government to buy “significant stakes” in two Greek state-controlled banks, the Agricultural Bank of Greece-ATE and the Hellenic Postbank-TTE, Piraeus Bank CEO Mihalis Sallas announced in a Press Conference in Athens two hours ago. The Greek government …
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July 12, 2010
Economy, News
While European Regulators sit curled over the papers of 8 Greek banks to undergo a stress test on kidneys and heart, false “hairdressers” and prophets speculate on possible “haircuts” on government bonds. Scepticism on bank’s exposures to Greek Bonds goes around together with rumors about due mergers and stakes’ sales. REUTERS reported Tuesday that EU …
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July 8, 2010
Economy, News
Hot weather and stress are both known to cause sweating. Currently the majority of Greeks are loosing volumes of sweat due to recession stress and the bankers don’t seem to be exception to the rule. Eight Greek Banks are waiting the official result of CEBS’s stress tests to be disclosed on July …
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