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Tag Archives: loans

Piraeus Bank wins court case against New Democracy for outstanding debts

Piraeus Bank has won a lawsuit against Greece’s main opposition party New Democracy for loans that have not be repaid. A First Instance Court in Athens ruled on Tuesday in favor of the bank that could theoretically proceed with the confiscation deposits and assets of  the conservative party.Greece’ main opposition …

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ESM Regling says Greece could use “unused funds to repay loans to other creditors”

The head of the euro zone’s European Stability Mechanism (ESM) bailout fund told German economic newspaper Handelsblatt that Greece was making good progress with its reform drive. Klaus Regling added that “unused funds could be used to repay loans to other creditors.” Unused funds to repay loans to other creditors? …

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Former ATE Bank executives charged for loans without collateral and guarantees

Greece’s corruption prosecutor has brought criminal charges against 30 former executives of the now defunct Agricultural Bank of Greece (ATE) for approving loans over a 10-year period to construction company ATTIKAT as well as to a private citizen who did not meet the necessary requirements. The cost incurred by the …

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Greek state takes over €112.3ml loans to Athens Concert Hall

The Greek state is to take over the ‘Megaron’ Athens Concert Hall Organisation’s unpaid debts to the European Investment Bank (EIB) for a 150-million-euro loan taken out in 2003. The loan was guaranteed by the Greek state. Based on a decision signed by Alternate Finance Minister George Chouliarakis and posted …

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New Democracy is one step before going bankrupt after bank claims loans

Greece’s main opposition party, conservative New Democracy, is one step before going bankrupt after one of Greece’s systemic banks claimed its loans. According to newspaper Agora, Piraeus Bank asked the full amount of loans to ND. The total amount is 160million euros, incl. loan €131million plus arrears and surcharges. The …

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IMF made a €2.5billion profit from loans to Greece

Nice profit. With an interest rate of 3.6% the International Monetary Fund has made a 2.5 billion euro profit from the loans to Greece since 2010. Of curse, nobody lends money without profit, right? How much more when the majority of the IMF bailout goes to save banks and is …

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Theory vs Reality gap revealed by “decent living standards criteria” issued by Greek government

How much money does one need to cover monthly basic needs while living in Greece? Well, it depends…. In fact, it depends on who decides. The Troika, the government institutions, the banks, the employers or just the person concerned? The views seem to vary between the theoretical approach and the …

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Expelled or not, former Hellenic Postbank CEO handcuffed in Athens

Former CEO of Hellenic Postbank Aggelos Philippidis was arrested on Wednesday morning right upon his arrival in Athens airport. He was immediately handcuffed by Greek policemen and taken to police headquarters and from there to the prosecutor. He will give testimony next Monday. Aggelos Philippidis is to face felony charges …

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Businessman couple sought by police for Hellenic Postbank loans surrenders to Scotland Yard

Greek businessman Kyriakos Griveas and his wife Anastasia Vatsika surrendered themselves to Scotland Yard in London shortly after Wednesday noon, Greek media report. The couple was sought by Greek police for ‘red loans’ it had received from the Hellenic Postbank.  An international arrest warrant had been issued as the couple …

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