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Greece’s Prime Minister George Papandreou was explicit when he said “We are not India and we are not going to be India.” The statement released by his office was the answer to Troika demands to lower more the lowest wages in the Greek private sector. Papandreou’s reference to the ‘hunger wages’ … Read More »
Troika to Annul Collective Bargain of Greek Private Sector
The team of international technocrats known as the Troika but in fact are popular among Greeks as “The Evil, The Bad and the Ugly” are reportedly putting pressure for annulment of the collective bargain in the private sector. They demand to lower the lowest wages [and make Greece ‘competitive’ for … Read More »
Operation “Block the Troika” – Greek CSs “Occupy” Ministries (pcts, video)
Hundreds of civil servants ‘occupied’ several ministries since the early morning hours and hindered government officials but also Troika representatives to enter the buildings in order to protest wages cuts and ‘labour reserve’. Currently nine ministries, among others these of health, justice, interior, finance, are formally blocked, while the civil … Read More »
50% Greek “Haircut” or German Rescue Plan with “Treuhand”?
While the scenarios over the weekend claim a Greek haircut of 50% and the most odious preconditions with more austerity measures and the Troika be seated in Athens for a decade, Greek Finance Minister EvangelosVenizelos meets with German Finance Minister Wolfgang Schaeuble in Washington. Tomorrow he will hold meetings with IMF-Chief Christine … Read More »
No Deal in Venizelos-Troika Conference – Maybe Tomorrow?
The conference call between Greek Finance Minister Evangelos Venizelos and representatives form the IMF and the EU concluded after two and a half hours. It will resume tomorrow, Tuesday, at 7 pm. Greek media quote government spokesman describing the discussion as “productive and substantive”. It looks as if it was a hard … Read More »
Shocking Austerity Measures Under Troika Pressure?
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 … Read More »
Upd2: Greek PM Cancels Trip to USA, UN, IMF
Greece Prime Minister George Papandreou cancelled his trip to USA, where he was to attend the UN meeting and would also have talks with IMF-Chief Christine Lagarde. Currently Papandreou is in London and from there he was to fly to Washington DC. Greek media claim the cancellation has been decided after … Read More »
Greece – Troika at Odds Over Budget Deficit
Negotiations between Greece and its Troika lenders seem to have reached a deadlock. Greek media report that the meeting was interrupted Thursday night in Athens, and that the EU/IMF/ECD representatives did not complete their review of the Greek economy for the release of the sixth tranche of the €110 billion … Read More »
IMF/EU/ECB Statement on Greece
“Sudden death” for Greek Soccer and Fourty Years Slavery for Greece. Massive layoffs in Public Administration, , massive attacks deep in our pockets. More taxes, VAT hikes, recession. Greece for Sale. Markets Delete. A long death. The 5th tranche of the €110 bailout will be relesed at the beginning of July, most … Read More »
Is Greece’s 5th bailout tranche in danger?
Is Greece’s fifth loan tranche in danger? Will 12 billion euros be locked in the pockets of IMF, EU and ECB? Will we default? No, I don’t think so. Then it’s not in the interest neither of IMF, nor the EU nor the ECB to deprive Greece from life-securing cash. … Read More »
IMF/EU/ECB guys deeply frustrated about Greece’s public sector realities
It seems that slowly Greece’s lenders come more closely to the Greek realities. Apparently the IFM/EU/ECB controllers are deeply frustrated that they wouldn’t hesitate to propose shocking solutions for drastic cuts in public spending. “The situation is deteriorating instead of improving, tax and customs offices are not able to collect revenues, corruption … Read More »
IMF/EU/ECB-Troika’s non-stop pressure on Greek Government
New and inevitable measures are on the way and the IMF/EU/ECB control units are adamant to put pressure on the Greek government to speed up with necessary public spending cuts even blackmailing with the 5th tranche of the €110 bailout. According to newspaper Proto Thema, the Troika tough guys … Read More »
IMF/EU/ECB to nail and tie Greece on fiscal discipline and measures
Greece’s lenders Troika is here to stay. It looks as if the representatives of International Monetary Fund, European Union and European Central Bank won’t leave Athens until they have tied down with nails and ropes Greece’s government officials on further economic measures and revenues increases. According to economic portal Capital.gr the Troika guys … Read More »
Long Time not See! IMF-guys are back, Suzanne!
Executives from International Monetary Fund, the European Union and the European Central Bank will be visiting Athens for an extraordinary medical test! They will check heart beat, liver and kidney values and take the market fever. This will certainly show hypothermia. Furthermore they will suck our blood for several tests but … Read More »