February 19, 2015
Economy
Below are some details from the official request Greece sent to Eurogroup Thursday morning asking for a 6-month extension of the loan agreement signed between Greece and the European Financial Stability Fund (EFSF) from December 2012. The Greek side wants also a Bridge-Agreement of 6-months, measures to tackle the humanitarian …
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February 19, 2015
Economy
Greece sent its request about an extension of the loan agreement on Tuesday morning. Speaking to Skai TV, Labor Minister Panos Skourletis said that “the request refers to extension of the loan agreement” and not of the “current bailout program.” According to Greek media, the Greek request refers to a …
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February 17, 2015
Economy
Greece will submit a request to extend its loan agreement tomorrow Wednesday, Greek media reported citing government sources Tuesday evening. The Greek request to the eurogroup will be based on the “Eurogroup draft of February 11th”, note some media, while others claim that it will be based on the “negotiation …
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April 25, 2014
Economy
Despite the government heralding the exit from the economic crisis and the primary surplus celebrations, a series of austerity measures will hit Greeks also in 2014. Until the end of the year, Samaras-Venizelos coalition government has to: lay-off 11,000 civil servants decrease the supplementary pensions eventually decrease the main pensions …
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January 14, 2014
Economy
It’s official! What we thought and reported about back in 2010 and 2011 about why there was no haircut of Greek debt, it’s been now officially confirmed by EU commissioner Olli Rehn. “Greek debt did not undergo restructuring ( haircut ) in 2010, in order to avoid contagion of the …
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April 23, 2013
Economy, Editor
23 April 2010: Many Greeks did not quite understand what then prime minister George Papandreou was telling us from the remote but picturesque island of Kastelorizo. The houses were bathing in the sun, the deep blue sea was sparkling. It was all set up in a perfect scenery, but the …
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January 29, 2013
Politics
Leader of main opposition party and chairman of left-wing SYRIZA, Alexis Tsipras, wants early elections in order to negotiate the loan agreement between Greece and its lenders and a new ‘haircut’. Speaking to state broadcaster NET TV, Tsipras declared, “the loan agreement is already dead” and “it needs to be …
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December 7, 2012
Politics
The majority of Greeks sees their future in bleak colours, are pessimistic about their future and the future of the country and not happy with their lives and believe the country is heading to the wrong direction. At the same time, they reject the coalition government policies and give left-wing …
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May 21, 2012
Economy
Leader of socialist PASOK, Evangelos Venizelos, tabled a proposal with six points concerning the revision of the loan agreement between Greece and its lenders. During his meeting with acting prime minister Panagiotis Pikrammenos on Monday, Venizelos claimed that Greece can achieve the revision of MoU, even though leading EU officials dismiss …
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February 12, 2012
Politics
The debate on the crucial voting of the new loan agreement and the new austerity package is to start soon in the Greek Parliament. The voting will start at 12 midnight, the results are expected at 1 a.m. Most probably the MPs will vote by name. Greek Communist Party will ask …
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February 8, 2012
Society
70% of the Greeks consider that things will get worst if the country abandons the euro and returns to Drachma. Only 15% believe things will be better. In a poll conducted by the Public Issue for private broadcaster Skai and published on Feb 7/2012, 79% of the asked reject the …
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January 24, 2012
Politics
UPD: After the turmoil, Chyssochoidis told Greek media that he had indeed an idea about the general directives of the MoU, he just didn’t read all the 2,200 pages of the Memorandum of Understanding. Luka Katseli told also media that she had thoroughly read the MoU. Two leading ministers of …
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January 20, 2012
Economy
Costas Simitis, Greece’ prime minister that led the country to euro zone, fiercely criticized the authors of the Memorandum of Understanding , the loan agreement singed between Greece and its lenders to enable the debt-ridden country to receive the rescue package of €110 billion in may 2010. “The agreement between the …
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November 3, 2011
Politics
Greece is in uproar after French President Nicholas Sarkozy and German Chancellor Angela Merkel imposed the date and the referendum question and froze the 6th aid tranche of 8 billion euro until Greeks say YES to referendum. It was short after midnight when Merkel and Sarkozy announced the referendum conditions …
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November 2, 2011
Politics
The invitation of French President Nicholas Sakrozy to Greek PM George Papandreou had a catalytic role in the political turmoil that broke out in Greece after Papandreou announced a referendum on the loan-agreement of October 26th. With no exception all opposition parties rejected the planned referendum and retiated their demand …
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November 1, 2011
Politics
The atmosphere within Greece’s governing party PASOK seems to be extremeley thick and Ministers come now and openly oppose the referendum or distance themselves after the fierce reactions by opposition parties and public. It looks as if PM Papandreou had not informed the cabinet on this decision, but just a few …
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November 1, 2011
Politics
The winds of Aeolus strongly started to blow in Greece and a storm of reactions came from the opposition, after PM George Papandreou announced a referendum on the loan-agreement of the Oct 26th, 2011 and a confidence vote. The whole opposition asks early elections, the Athens Stock Exchange plunges and …
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November 1, 2011
Economy
The Athens Stock Exchange suffered heavy losses of -6.92% in the aftermath of the referendum announcement on the loan-agreement on Monday evening by PM George Papandreou. The General Index closed qt 782.65 unit and the total volume was 75.72 million euro. Stocks on the banking sector suffered the heaviest losses …
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November 1, 2011
Economy, Politics
I guess the IMF is speechless too. So far there has been not official statement to the decision of Greek prime minister George Papandreou to put the new loan agreement in a referendum. Formally, the response of the representative of the European Union Carolina Kotova was “no comment” and “We …
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October 31, 2011
Economy, Politics
Greek prime minister George Papandreou announced referendum over the October 26th, 2011 Loan-Agreement (“Haircut”-Agreement) stunning the public. It was the PM’s answer to all criticism by the opposition, the society and even some of his own deputies, the request for early elections and/or government of national unity. Speaking to parliamentary …
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