Tag Archives: Troika

The Mini Memorandum of Understanding that keeps busy Papademos and the leaders of the three parties forming his coalition government since five hours, contains some shocking austerity measures that will impoverish masses of the population form one month to the next. Troika proposed that the minimum wage will go down …

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Negotiations on the new loan agreement to Greece look as if they have not be concluded on Tuesday evening as it was planned. The meeting between PM Papademos with the coalition government parties leaders have been postponed again for Wednesday, sometime in the afternoon, Greek media reported. The Troika will …

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With the ghost of bankruptcy hunting them Papademos coalition government leaders agreed on four key issue – “basic points”- on the Troika’s demand that will create nothing more than a deeper recession and will crack down the backbone of the Greek economy with wages equal those of a third world country. After …

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We could also title this article “Greek-Troijan War” with the Troika being on the Trojan front riding a Trojan horse. A trick-offer apparently aiming  to save the country but in fact targeting to economically destroy the Greek citizens. Dramatic negotiations without results so far are taking place under an extreme time …

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 “Tomorrow is the moment of truth for all political parties.” Greece’s Finance Minister Evangelos Venizelos made this dramatic statement at the dawn of Saturday after a marathon meeting with Troika representatives that lasted 12 hours.  “We have resolved several issues but several critical issues remain open, issues that concern the future …

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Oh, these rumors can bring down currencies. The EURO sharply declined towards the US-Dollar when rumors appeared on international media that Greek PM Lucas Papademos might resign if the party leaders of his coalition government do not back him on the second loan agreement with the country’s lenders. The rumors …

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GSEE, the trade union umbrella for the Greece private sector and Employer’s Associations came to the same conclusion after three hours of negotiations. To say “No” to Troika’s demands to lower the minimum wage and to abolish the 13th and 14th salary. GSEE chairman Yannis Panagopoulso told reporters  “It is not allowed that …

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Greece’s prime minister Lucas Papademos made his point of view very clear on Sunday after meeting the leaders of the three parties forming his coalition government. “If this process [ PSI, second bailout] is not completed successfully, we will find ourselves faced with the specter of bankruptcy which will have …

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Greece and its private creditors are apparently one step away from completing the voluntary Greek Bond Swap (PSI).  “We are one step away from PSI deal”, Greek Finance Minister Evangelos Venizelos said. “We are close to the finalization of a voluntary PSI”, head of Institute of International Finance Charles Dallara said …

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Greece’s lenders pressure the party leaders forming the coalition government to put down their signatures under the new loan agreement, the new Memorandum of Understanding containing austerity measures that will elimination large parts of the Greek society, threatening ‘No signature, No Money’. Here comes one of the coalition gov’ partners, far-right LAOS, …

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A real tsunami of austerity measures with massive layoffs, additional tax hikes, further  pensions, wages and social benefits cuts, dozens of painful interventions and structural reforms, is being prepared by Greece’s lenders in order to collect 13 billion euro in the period 2012-2015. According to economic news portal Capital.gr, these measures that will …

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Unionists from the Greek Communist Party surrounded the Hilton Hotel where the Troika representatives stay when in Athens. With flags and banners saying “Troika Go Home” and “Troika Get Out of Greece” five hundred PAME-unionists took position outside the hotel in downtown Athens in an action to protest the Troika’s …

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Ireland’s favourite print and broadcast  journalist, Vincent Browne takes on the Troika, and refuses to allow them to evade questions regarding the bailout of unguaranteed bondholders by the Irish public. Vincent Browne at his finest. His key question that Troika-representatives are unable to answer “Why are Irish people required to pay …

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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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Those Greeks thinking the loss of labour rights and benefits and the sharp income decreases of 2011 were ‘horrible enough’ enter the New Year in a state of real terror. The IMF-EU Troika is adamant in turning Greece into the “poorest India” of the euro zone labour-wise and insist on total abolition of labour rights and …

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There must be something rotten in the heads of some people governing this country. On Tuesday morning in Athens, riot police was deployed to avert (riots by?)  hundreds of disabled Greeks on wheel chairs to come close to Prime Minister’s Mansion, the Greek Parliament and the Finance Ministry. The disabled on wheel chairs had gathered …

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 Greece’s lenders  tabled a seven-conditions “manifesto” so that the debt-ridden country will be able to get the €110-billion bailout, the second after May 2010. The Troika consisting of IMF/EU/ECB urges the Greek government to adopt laws that they should have been adopted long ago like the opening of closed professions or …

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Apparently, debt-ridden and well-behaved Portuguese are better than broke and defiant Greeks. In fact, “Portuguese are good and Greeks  are …bad (?)” if we want to believe German Juergen Kroeger, EU representative of the Troika group supervising the bailout package in  Portugal. This sentence from Kroeger angered the journalists in Portugal …

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Greece’s lenders representatives in Athens, also known as the “Troika”, released their report on fiscal progress and gave the green light for the 8 billion EUR. The sixth bailout tranche would be released to Greece most likely in early November, after the Eurogroup & IMF approval of the progress report. Finance Minister …

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The shameless e-mail the Troika-guys sent to Greek government and demanded the lowering of lowest wages has be given to public by the private sector union GSEE during a press conference on Monday. The Troika technocrats demand the cancelling of the Labour National Bargain, the decrease and the freezing of …

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