News Overview - The Best from Greece

Follow bestfromgreece on Twitter

02 October, 2012:
The best from Greece website is undergoing maintenance. But we will be back soon!   Team The best from Greece    ...
14 September, 2012:
Bus crash
PanARMENIAN.Net - At least four Russian tourists were killed after their bus overturned in northern Greece on Friday, Sept 14, Russian officials said. According to RIA Novosti, the bus was carrying 49 tourists from their hotel to the airport when it crashed on a highway near the country's se...
14 September, 2012:
EIB deal promises liquidity boost
Greece’s liquidity-starved market is set for a cash boost of some 1.4 billion euros over the next few months after the government Thursday concluded an agreement with the European Investment Bank which had been held up because the lender wanted a clause inserted in the deal in case Athen...
14 September, 2012:
Retirement age set to rise
Coalition sees step as less onerous than other cuts needed to seal troika deal   An effort to conclude an agreement between the government and the troika on about 11.5 billion euros of spending cuts is likely to lead to the retirement age in Greece rising from 65 to 67, Kathimerini under...
10 September, 2012:
Slow down
The so-called "troika" of inspectors from the European Commission, the European Central Bank and the International Monetary Fund returned to Athens on Friday to conclude a report on Greece's progress in meeting the terms of its latest bailout, Reuters reported. The inspec...
10 September, 2012:
Giant bank plan was put aside
By Giorgos Mantelas Three of the country’s top four banks have already explored a contingency plan to merge into one, Kathimerini understands. According to sources, the managers of National Bank, Eurobank and Piraeus Bank had discussed before the May 6 elections the possibility of a trip...
10 September, 2012:
long way to go
10 September, 2012:
Leaders' meeting ends in deadlock Talks between the leaders of the coalition government to finalise the details of the country’s latest austerity package ended on Sunday night in deadlock.   "No agreement has been reached," said Democratic Left leader Fotis Kouveli...
03 September, 2012:
Trucks Full Of Cash: U.S. Firms Make Plans For Greece Euro Exit   European leaders have vowed to do all they can to keep the eurozone intact, but U.S. companies are making contingency plans in case Greece is forced to leave the currency union. The New York Times said major U.S. banks...
03 September, 2012:
EOPYY doctors launch go-slow action   Doctors working with the National Organization for Healthcare Provision (EOPYY) were to launch go-slow action on Monday in protest at their nonpayment by the organization. Doctors have demanded that they be paid their dues and want an audit of the o...
03 September, 2012:
Coalition leaders to wrestle with cuts   Prime Minister Antonis Samaras and his coalition partners are to meet again in the middle of this week in a bid ...
03 September, 2012:
Countdown to the Eurogroup on Sept 14     Below is a schedule of the main political and economic appointments betweeen now and September 14, when Eurozone leaders will meet in Cyprus       September 4 Finance Minister Yannis Stournaras meets with his German co...
03 September, 2012:
Stournaras forges ahead
Finance Minister Yannis Stournaras will go to Berlin on Tuesday, where he will meet with his German counterpart Wolfgang Schaeuble.   Stournaras will brief Schaeuble about the latest decisions that have been made regarding the 11.4 billion euro spending cuts. He may meet with the French ...
03 September, 2012:
Green cars circulate freely
Environmentally-friendly cars will have the right to drive within both the large and small “daktilio”, without any restrictions, this year. As of Monday September 3, the “prasino daktilio”(green ring) law is in effect.   Like the policy from previous years, &ldqu...
03 September, 2012:
Cabinet meets
Cabinet meets to approve €11.7bn cuts The cabinet met at noon on Friday to formally approve the package of 11.7bn in spending cuts, that includes drastic cuts to salaries and subsidies in public utilities, ending holiday payments for all pensioners and increases in public transport ...
29 August, 2012:
Economic zones
Greece plans special economic zones to spur growth   ATHENS/MADRID: Greece plans to set up “special economic zones” to attract private investment and help lift its debt-laden economy out of depression, the government said Tuesday. The zones would offer investors tax and adminis...
29 August, 2012:
Bid to keep transport fares down
The Transport Ministry is looking for ways to avoid having to raise the price of public transportation by cracking down on ticket evasion instead, which is believed to cost the state some 25-37.5 million euros in losses a year in Attica alone. Fare dodging in Attica on fixed-track transport i...
29 August, 2012:
Slow return of deposits
By Evgenia Tzortzi Deposits in Greek banks posted a 2 percent rise in July, according to figures released on Tuesday by the European Central Bank, reversing the declining trend which was evident in May and June. The creation of a coalition government in mid-June saw deposits grow by 3.2 billi...
29 August, 2012:
'drachma lobby'
PM claims blow against 'drachma lobby' Prime Minister Antonis Samaras indicated on Tuesday that the government was gaining some headway in its efforts to turn ...
29 August, 2012:
special salaries
Coalition chiefs to decide fate of special salaries The contentious issue of whether to cut the so-called special salaries enjoyed by about 195,000 civil servants is now in the hands of the leaders of the three coalition parties.   Judges, diplomats, political appointees, state doctors,...
29 August, 2012:
Piraeus close to buying Geniki
Piraeus Bank, the country's fourth-largest lender, is close to a deal to buy Geniki Bank, the media reported on Wednesday.   Talks between the two banks are at an advanced stage and a deal could be reached as early as this week, the Proto Thema newspaper said on its website, without citin...
28 August, 2012:
Settlement with Siemens
Debt crisis: Greek government signs €330m settlement with Siemens It is not quite the bail-out booster Greeks were hoping for, but Athens has extracted €330m from Siemens, the German engineering group, in settlement of corruption charges. By Louise Armitstead, Chief B...
28 August, 2012:
Greece Says It May Sell Islands
by Ulrika Lomas,, Brussels   Amid meetings with French and German leaders, Greek Prime Minister Antonis Samaras has said that his government is ready to sell uninhabited islands if necessary to raise revenues. France and Germany have reiterated their pressure for further st...
28 August, 2012:
Credit Agricole takes hits in Greece
Credit Agricole, France's third-largest bank, posted a 67 per cent decline in second-quarter profit, hurt by losses in Greece and a writedown of its stake in Italy's Intesa Sanpaolo. It's Greek business is substantial and the Bank has been trying to offload this division in recent months but ...
28 August, 2012:
bank merger
  Investors hold collective breath over bank merger   The possible merger of Emporiki Bank with National, Alpha or Euroba...
28 August, 2012:
Fires rage as arson probes intensify
Firefighters on Monday were struggling to contain several blazes across the country -- in Thessaloniki, Halkidiki, Arcadia, Laconia and Messinia -- as authorities continued their search for the suspected arsonists behind the most catastrophic of a spate of fires in August. A 24-year-old Greek...
28 August, 2012:
Merkel tries to calm storms
Merkel tries to calm storms over Greece, ECB policy   The German chancellor, Angela Merkel, tried to calm a growing storm over eurozone crisis strategy on Sunday after the Bundesbank likened ECB bond-buying plans to a dangerous drug and a conservative ally of the German leader said...
28 August, 2012:
2-3 extra years
Austria says Greece could get 2-3 extra years Greece should get more time to repay its debts provided that it sticks to reforms and savings targets agreed with the European Union, Austrian Chancellor Werner Faymann said, taking a softer line than neighbour Germany, which has so far oppos...
27 August, 2012:
Greece's future is in the eurozone
By Hannes Swoboda BRUSSELS - Dubium sapientiae initium - Doubt is the origin of wisdom - could have been René Descarte's rather poetic interpretation of the European Union's founding moment. The doubts as to how the nations in Europe could coexist after the Second World War gave way to the...
27 August, 2012:
Merkel warns
Merkel warns gov't allies to ‘weigh words’ on Greece   German Chancellor Angela Merkel warned her coalition partners advocating a Greek exit from the euro to “weigh their words,” as she signaled a renewed determination to keep the single currency intact. Asked ab...
27 August, 2012:
Greece should get more
Austria: Greece could get more time to repay debts Greece should get more time to repay its debts provided that it sticks to reforms and savings targets agreed with the European Union, Austrian Chancellor Werner Faymann said, taking a softer line than neighbour Germany, which has so far oppose...
27 August, 2012:
Merkel lays down the law
  German Chancellor Angela Merkel delivered a stern warning to visiting Prime Minister Antonis Samaras after extensive talks about the Greek bailout programme in Berlin.   “We expect Greece to deliver all that has been promised,” Merkel declared. In remarks that were unus...
27 August, 2012:
Govt signs deal with Siemens
The government has signed an agreement with Siemens under which the German industrial giant will pay 330m euro in cash and kind following the furore over a high-profile and massive kickbacks and bribery scandal involving the company, its subsidiary in Greece and the multinational's numerous co...
20 August, 2012:
Cuts to pensions, salaries, civil service jobs agreed ahead of Samaras talks
Finance Ministry officials are to hold a new meeting on Monday in a bid to finalize proposals for 11.5 billion euros in spending cuts ahead of Prime Minister Antonis Samaras’s meetings with European leaders this week. Samaras is due to meet Eurogroup chief and Luxembourg Prime Minister ...
20 August, 2012:
German pressure
Germans apply pressure ahead of Samaras visit Senior German politicians have stepped up the pressure on the government to stick to its reforms before the Prime Minister Antonis Samaras visits Berlin this week and made clear that there was no appetite in the German parliament for a third ...
20 August, 2012:
Greek debt rises
Greek debt rises to 303 bn euros Central government debt reached 303.53 billion euros as of June 30, rising by 23.2 billion from March 31, finance ministry data showed on Friday.   Central government data differ from general government debt figures, which are used t...
15 August, 2012:
Spending moratorium in place
Government has placed priority on ensuring it can pay salaries and pensions in coming months ...
15 August, 2012:
Greece, Cyprus, Israel to talk gas
A meeting between officials of Greece, Cyprus and Israel is being lined up for September so the three countries can agree on transporting natural gas from the ...
15 August, 2012:
Migrants call for protection
Racially motivated attacks against immigrants have intensified in recent months, a prominent member of the local Pakistani community said Tuesday, alleging tha...
14 August, 2012:
Greece raises €4bn
Greece raises €4bn at debt auction to help government avoid cash crunch Greece raised €4.063bn (£3.2bn) in a sale of three-month debt on Tuesday, paying a modestly higher rate of 4.43pc that will help the government avoid a cash crunch. The extraordinarily large sale ...
14 August, 2012:
Pangalos says 'We all binged' in book
A new book, written using crowdsourcing and certain to stir up controversy, has been published by a former Pasok deputy prime minister to prove the complicity of the public and politicians in creating the country's crisis.   Theodoros Pangalos said that Ta fagama oli mazi (We all binged...
14 August, 2012:
Economy shrinks
Economy shrinks to 2005 level in second quarter  Contraction eases but outlook grim The second quarter of 2012 was the Greek economy’s worst in the last eight years, and the outlook remains bleak despite the fact that the recession eased compared to the first quarter. The Hel...
14 August, 2012:
Rise of racist attacks
Minister worried by rise of racist attacks in Greece The justice minister on Monday condemned the fatal attack on an Iraqi immigrant on the weekend as officials expressed satisfaction over the progress of a controversial crackdown on illegal immigrants in Attica and along the country’s n...
14 August, 2012:
Privatization small ports and marinas
Greece seeks investors for small ports and marinas An interministerial committee gave the green light on Monday to the country’s privatization fund to issue concessions to investors to run 23 small ports and marinas around the country, as part of the coalition’s drive to increase r...
14 August, 2012:
French FinMin to visit Athens next month
French Finance Minister Pierre Moscovici will travel to Athens in mid September, Kathimerini reported. The planned visit is seen as a sign of French support for Greece's reform effort as criticism of the debt-hit nation, particularly from German officials, persists. On Monday German Economy M...
13 August, 2012:
OECD chief says:
Greece must stay in euro Greece must remain in the eurozone but may need extra time to make good on tough economic reforms it has promised international credit...
13 August, 2012:
Decisive two weeks
Samaras gears up for crucial two weeks of meetings, decisions Antonis Samaras enters a crucial two weeks of his premiership as he prepares for meetings with top European leaders and continues discussions with his coalition colleagues about finalizing the 11.5 billion euros in spending cuts the...
13 August, 2012:
Clues found in fatal Paros bank robbery
Police have found significant evidence at the scene of a bloody bank robbery on Paros that they believe might lead to the arrest of the suspects. A 53-year-old taxi driver was shot dead as he attempted to stop the robbery last week. Witnesses told police that four men had raided the bank in t...
13 August, 2012:
Young Iraqi fatally wounded in Athens
A young Iraqi national was attacked and fatally wounded in the early hours of Sunday, police have revealed.   According to a police statement, the young man was assaulted while walking along Anaxagoras Street in Athens, at approximately 4 in the morning and received numerous strikes with ...
13 August, 2012:
Samaras ends trade fair tradition
A tradition dating back many decades is about to end, as Prime Minister Antonis Samaras has reportedly decided not to deliver a speech and hold a press conference during the Thessaloniki International Trade Fair.   This annual commercial exhibition event, organized by Helexpo, takes pla...
10 August, 2012:
Civil service jobs an obstacle
Coalition parties jostling over labor reserve as 6.5 bln worth of cuts head for troika approval Greece is to send to the troika on Friday a list of savings worth 6.5 billion euros over the next two years as it looks to find the remaining 5 billion euros in cuts, with the coalition parties still...
10 August, 2012:
Joblessness climbs to a new high
Greece’s unemployment rate rose to 23.1 pct in May, with most in the 15-24 age group out of work   Greece’s unemployment rate climbed to a new peak in May, highlighting the intensity of the recession for a fifth straight year. According to the Hellenic Statistical Authority (ELS...
10 August, 2012:
State company head sacked
State company head sacked for not reducing workers' pay The government sacked the head of its state nickel producer LARCO on Thursday for refusing to reduce workers' pay, the first state company chief to lose his job in the fight to cut costs and stay hooked up to an international bailou...
10 August, 2012:
Savings to come from public sector cuts
The government will revive the labour reserve measure targeting 40,000 public servants for eventual dismissal, determined to achieve the 11.5 billion euros in savings it promised international lenders, officials said on Thursday.   The government's economic team will present details of t...
09 August, 2012:
No letup in anti-German sentiment in Greece
During the debt crisis Greeks have been badmouthing the Germans - but the Germans have been equally critical of their EU counterparts. Some Greeks want this situation to change. German tabloids portray Greeks as bankrupt and tell them to sell off their islands to pay their debts - and Gree...
09 August, 2012:
Talks on cuts stall on labor reserve issue
Troika review expected in October, rather than September, according to Dow Jones Prime Minister Antonis Samaras and other government officials sought to appear...
09 August, 2012:
No economy policy speech from PM at Thessaloniki Fair
Prime Minister Antonis Samaras will not deliver the traditional keynote economic speech at September’s Thessaloniki International Fair, Kathimerini understands. The trade far has for decades provided governments with the platform to present their economic policy following the summer bre...
09 August, 2012:
Panathinaikos cruise into Champions League play-off round Panathinaikos have comfortably negotiated the third qualifying round of the Champions League, beating Scottish side Motherwell 3-0 at home on Wednesday night. The Greens’ victory gave them a 5-0 win on aggregate over the Steelmen....
09 August, 2012:
Arson suspect arrested
A 45-year-old local man was arrested on Thursday for arson in the major fire that broke out at noon Tuesday in the Anemodouri region of Megalopolis, Arcadia prefecture. He will appear before a Tripolis prosecutor on Friday on charges of arson due to negligence.   The blaze, burning for t...
09 August, 2012:
Ouranoupolis evacuated due to wildfire
The village of Ouranoupolis was evacuated Thursday and the wider Mt. Athos region was put on alert after a wildfire broke out on farmland Wednesday afternoon and spread to a nearby forest in Monoxelitis, by the monastery of Hilandarion.   Although Ouranoupolis was not at direct risk at t...
09 August, 2012:
Wildfires injure six and damage forestland
Six people have been injured and several villages evacuated as a fire that began on Tuesday continues to rage strongly on Wednesday in the Arcadia area of the Peloponnese.    A man and woman were seriously injured while trying to save their property during a raging fire that burned ...
08 August, 2012:
SPI Solar completes two solar energy facilities in Greece
Photovoltaic solar developer, SPI Solar has completed construction and interconnected two large-scale solar energy facility projects in Greece. A 4.4MW solar energy facility in Orestiada and a 2MW development in Evros were completed and interconnected by 26 July 2012. The company said both sy...
08 August, 2012:
S&P cuts Greece's outlook
Greece's credit rating may be cut again by Standard and Poor's on concern a worsening economy raises the likelihood the troubled nation will need more support from European Union lenders. The outlook on Greece's CCC rating, already eight levels below investment grade, was revised to negative ...
08 August, 2012:
Reservations over savings expressed in leaders' meeting
A new meeting between Greece’s coalition leaders on Tuesday failed to yield any results, amid objections from junior partner Democratic Left to plans to ...
08 August, 2012:
Six injured in Peloponnese wildfire
Officials in southern Greece say six people have been hospitalized -- two local residents with burns and four firefighters with breathing problems -- as a wildfire swept through forest land outside the city of Megalopolis in the Peloponnese. The fire and state health officials said three vill...
08 August, 2012:
Country to issue T-bills to pay maturing bond
The country will issue additional T-bills to pay a government bond that matures later this month and avoid default while it awaits a delayed tranche of aid, a government official said on Tuesday.   Cash-strapped and behind targets agreed under a 130 billion euro ($160.4 billion) financia...
08 August, 2012:
S&P lowers outlook on Greeece to negative
Greece’s credit rating may be cut again by Standard & Poor’s on concern a worsening economy raises the likelihood the troubled nation will need more support from European Union lenders. The outlook on Greece’s CCC rating, already eight levels below investment grade, was ...
08 August, 2012:
Greece feels heat this summer
A new heat wave that sent temperatures in some parts of the country soaring above 40 Celsius is due to subside from Thursday but is a further indication that summers are getting warmer, underlined by the fact that figures reveal Greece experienced the warmest June and July in recent history. ...
07 August, 2012:
Greece committed to further spending cuts: creditors
ATHENS: Greece’s international creditors called their Sunday talks with Athens productive and said the country was committed to hammering out further spending cuts to secure a new tranche of aid.   The so-called troika of creditors — the EU, IMF and the European Central B...
07 August, 2012:
Greece moves to sell state Gas business
Greece wants binding bids for its state-owned natural gas company and gas grid operator by the end of September and hopes to complete their sale in late autumn as it revives its privatisation drive, a government official told Reuters on Monday. Hoping to regain credibility with international le...
07 August, 2012:
Greece to sell state assets
Greece is putting up for sale 10 important state assets, reports Ekathimerini. The items include the International Broadcasting Center, the state lottery, the public gas corporation, the gas grid operator, the Elliniko site, the state gambling company, the horse racing organisation and land in C...
07 August, 2012:
Leaders focus on privatizations
Coalition chiefs identify 10 assets to be sold first and set legislative priorities for next few weeks Pushing forward with the government’s privatization program was the main topic of discussion between Greece’s coalition leaders when they met on Monday. The heads of New Democracy...
07 August, 2012:
Labor reserve on the cards again
By Prokopis Hatzinikolaou The placement of 15,000 public sector employees on a labor reserve scheme is returning to government considerations, as the projected rate of retirements in the years ahead fails to ensure that the total number will be reduced by 150,000 by 2015. This means that abou...
07 August, 2012:
Patients will not pay more for drugs, says minister
Increasing the financial contribution that patients have to make to buy subsidized medicines is not part of the government’s plans at the moment to reduce healthcare spending, Alternate Health Minister Marios Salmas told Skai radio on Tuesday. Salmas said that the increase in use of gen...
07 August, 2012:
Twitter launches a version in Greek
The social media platform, Twitter, has released a version in Greek, taking to 33 the number of languages that the networking tool is available in. “Last May, we opened our Translation Center to 6 new languages using a new set of features we’ve created to make the translation proc...
07 August, 2012:
Political leaders focus on privatisations
The political leaders supporting the Antonis Samaras-led coalition government made statements to the gathered press on Monday, after the completion of yet another meeting with the prime minister.   Pasok leader Evangelos Venizelos, stated that the meeting they had with Prime Minister Ant...
06 August, 2012:
Greece between bankruptcy and new elections
As anticipated by New Europe before Commission president Jose Barroso visited Athens on 26 July, the European Central Bank decided on 4 August to grant Greece a guarantee for €4 billion loans so to defer bankruptcy at least until September. From there on, nobody can anticipate what will h...
06 August, 2012:
European Central Bank Saves Greece From Bankruptcy
The European Central Bank (ECB) has saved Greece from bankruptcy for the time being by securing it interim financing in the form of additional emergency loans from the Bank of Greece, German newspaper Die Welt said on Saturday.   The ECB's  Governing Council agreed at its meeting o...
06 August, 2012:
Breaking News Get Breaking News Alerts Red email Israeli President Peres in Greece for 3-day visit
Israeli President Shimon Peres has started a three-day visit to Greece, at a time of heightened cooperation between the two Mediterranean countries.   Peres was meeting Greek President Karolos Papoulias Monday, and will also hold talks with conservative Prime Minister Antonis Samaras. (AP...
06 August, 2012:
Troika sees 'great progress' in talks on cuts
 Envoys to leave Athens on Sunday, measures to be announced in September A three-hour meeting between government ministers and officials representing the country's international creditors -- the European Commission, European Central Bank and International Monetary Fund, known as the troik...
06 August, 2012:
Firms hit by slow cash flow
By Leonidas Stergiou Thousands of Greek businesses are facing the specter of bankruptcy, unable to service bank loans and liabilities to suppliers with increasingly meager turnover and profits. According to Hellastat, which processed the balance sheets of 52,000 enterprises between 2002 and ...
06 August, 2012:
New heat wave to hit 42C by Wednesday
  The latest in a series of heat waves that have taxed Greeks this summer is expected to peak on Wednesday when temperatures are forecast to reach up to 42 degrees Celsius. The hot weather is to begin with temperatures in the region of 40C on Monday and steadily rise until Wednesday. So...
06 August, 2012:
Israeli President visits Athens
Israeli President Simon Peres arrives in Athens on Monday for an official visit to Greece at the invitation of his Greek counterpart, Karolos Papoulias.   Peres will first meet with political officials at 10:30am on Monday at the presidential mansion before having a private meeting with ...
06 August, 2012:
Greece given room to breathe by ECB
The European Central Bank (ECB) has saved Greece from bankruptcy for the time being by securing it interim financing in the form of additional emergency loans from the Bank of Greece, German newspaper Die Welt said on Saturday.   The ECB's Governing Council agreed at its meeting on Thursd...
06 August, 2012:
Provopoulos says:
Danger of country being defamed, says Provopoulos   Greece's central bank governor Yiorgos Provopoulos told parliament on Friday, that the Greek banking system was well regulated, otherwise it would have collapsed.   Provopoulos was answering questions about Piraeus Bank's ta...
03 August, 2012:
IMF: No money for Greece
BRUSSELS - One of the many loose ends to the Greek bail-out agreed in the early hours of Tuesday (21 February) is the lack of a firm commitment from the International Monetary Fund, pending a decision by eurozone leaders next week to merge the firepower of two bail-out funds. According to e...
03 August, 2012:
Troika back in Greece this WEEK
BRUSSELS - The troika of international lenders - the European Commission, European Central Bank and International Monetary Fund - returns to Athens on Tuesday (3 July) to take stock of delays in implementing the bailout-linked austerity measures. Newly-elected Prime Minister Antonis Samaras...
03 August, 2012:
Dissent tears at the ranks of PASOK
Dissent was said to be bubbling in the ranks of socialist PASOK on Thursday after six MPs -- including former Prime Minister George Papandreou and ex-Public Order Minister Michalis Chrysochoidis -- voted against a bill paving the way for the government to close down dozens of universities, and...
03 August, 2012:
Shares, euro fall as ECB delays action
Asian shares and the euro fell on Friday as investors shunned risk after the European Central Bank took no immediate action and only hinted at future steps to tackle the eurozone's fiscal woes, following similar inaction from the U.S. Federal Reserve.   European stocks were likely to con...
03 August, 2012:
Kouvelis pledges to protect the financially weak
Democratic Left leader Fotis Kouvelis on Thursday underlined that his party, one of the three parties backing the coalition government, “will not abandon the efforts for a specific government work that will solve existing problems”.     Addressing his party’s parl...
02 August, 2012:
FinMin to begin negotiations with troika
Finance Minister Yannis Stournaras was set to begin negotiations with representatives of the European Union, the European Central Bank and the International Monetary Fund – collectively known as the troika – on Thursday with regard to 11.5 billion euros worth of cuts demanded by the...
02 August, 2012:
Coalition agrees
Coalition agrees to cut 11.5 bln euros as Venizelos, Kouvelis back down A tense and fraught meeting between Greece’s coalition lea...
02 August, 2012:
Coalition government agrees to 11.5bn cuts
After initial resistance from Pasok leader Evangelos Venizelos and Democratic Left leader Fotis Kouvelis, the coalition government agreed to 11.5bn euro spending cuts during a meeting Wednesday night.   At the end of the meeting, Finance Minister Yannis Stournaras announced that the coal...
02 August, 2012:
Pension payments under scrutiny
In an urgent circular sent to all social insurance funds on Wednesday, Labour Minister Yiannis Vroutsis launched a drive to collect all their files on state pensioners in order to cross-check the information these contain.   The ministry's goal is to completely purge the pension system o...
02 August, 2012:
Tsipras rejects ATEbank merger
Opposition leader Alexis Tsipras said on Tuesday his party would annul the transfer of ATEbank’s healthy assets to Piraeus Bank if it came into power.   "The merger of ATEbank with Piraeus Bank is temporary and Syriza commits itself to annul it, in case it assumes the country'...
01 August, 2012:
Greece 'Reactivates' Tax Deal With Switzerland
Determined to claw back billions of euros and to send out a crucial signal that efforts to consolidate the public finances are being made, the government in Athens has recently announced plans to negotiate a tax agreement with Switzerland. The Greek finance ministry revealed that the Swiss go...
01 August, 2012:
Greece may issue more Treasury bills to cover funding gap - official
ATHENS (Reuters) - Greece is considering issuing more treasury bills in August as one of the options to cover a funding squeeze this month, a senior finance ministry official told Reuters on Wednesday. Cash-strapped Greece is due to run out of cash within weeks if it does not get the next...
01 August, 2012:
Panathinaikos triumphs 2-0 at Motherwell
By George Georgakopoulos Panathinaikos has taken a clear lead over Motherwell after its 2-0 win in Scotland on Tuesday for the third qua...
01 August, 2012:
Course for quickfire sell-offs charted
The government will try to privatize at least one major public enterprise, probably the OPAP gaming firm, by the end of the year in order to improve its standing with the troika, Prime Minister Antonis Samaras and several key officials agreed Tuesday. Samaras met with Finance Minister Yannis ...
01 August, 2012:
Troika to discuss justice issues with minister
Troika officials are due to meet with Justice Minister Antonis Roupakiotis on Wednesday to discuss the liberalization of the legal profession. The troika representatives will also ask the minister about steps to change the law saw lawyers do not have to be present when contract signed. Anoth...
01 August, 2012:
Alpha has bid for Emporiki Bank
By Yiannis Papadoyiannis Alpha Bank confirmed on Tuesday that it has made a bid for the acquisition of rival Emporiki, in response to a question by the Capital Market Commission, showing that Alpha, National and Eurobank are going to fight a fierce battle for the French-owned lender. The con...
01 August, 2012:
Piraeus Bank halts sale of Egyptian unit
The country’s fourth-largest lender Piraeus Bank has halted the sale of its Egyptian subsidiary valued at over 163 million euros, the bank said on Tuesday without offering reasons for the move.   The announcement came just days after Piraeus agreed to take over the healthy assets o...
01 August, 2012:
Loverdos condemns education bill
Pasok MP Andreas Loverdos has condemned the draft bill for higher education that was tabled in parliament as urgent on Monday, calling on MPs to vote against it.   Loverdos says that the government’s initiative is counter-reform and sends out the wrong message about Greece.   ...
31 July, 2012:
Alpha Bank denies
* Alpha Bank official dismisses report on Emporiki deal * Greek lenders eye Emporiki, Credit Agricole seeks way out (Recasts with Alpha Bank official) (Reuters) - A senior official at Greece's Alpha Bank denied a Greek newspaper report on Tuesday that the lender is close to a deal to buy str...
31 July, 2012:
Corruption chart
Civil servants still top corruption chart, report finds The annual report by the General Inspector for Public Administration, Leandros Rakintzis, to be made public on Tuesday, shows that civil servants still top the chart for corruption in Greece, Skai understands. The report for 2011 contain...
31 July, 2012:
Alpha Bank close to deal
Greece's Alpha Bank close to deal to buy Emporiki Greece's Alpha Bank is close to a deal to buy struggling rival Emporiki Bank, which France's Credit Agricole has been trying to sell, Greek financial daily Imerisia said on Tuesday, citing sources. The deal will be signed in mid-September afte...
31 July, 2012:
Leaders balk at savings
Deal on measures delayed as Venizelos and Kouvelis eye alternative course   Prime Minister Antonis Samaras’s coalition partners -- PASOK’s Evangelos Venizelos and Democratic Left’s Fotis Kouvelis -- attempted on Monday to argue that Greece should not agree to all of the ...
31 July, 2012:
No final agreement
Political leaders find no final agreement after meeting A meeting of the three party leaders in Greece's coalition government ended on Monday evening without firm final agreement on the measures that will be adopted to reduce Greece's deficit by 11.5 billion euro.   The head of th...
31 July, 2012:
ECB thinks the unthinkable
ECB thinks the unthinkable, action likely weeks away   The European Central Bank is thinking the unthinkable to save the euro, including resuming its controversial bond-buying program and possibly even pursuing quantitative easing - in effect printing money.   Bold action is probab...
31 July, 2012:
early diagnosis tool for Alzheimer’s
Greek scientists design early diagnosis tool for Alzheimer’s An early diagnosis protocol for Alzheimer’s has been designed by researchers at the Ionian University in Greece, opening the way for the prevention and more effective treatment of the neurodegenerative disorder, whi...
30 July, 2012:
EU, IMF and ECB auditors to stay in Greece
EU, IMF and ECB auditors to stay in Greece    ATHENS: Auditors from the EU, IMF and the European Central Bank will remain in Greece until a credible reform programme is formed, a finance ministry source said y...
30 July, 2012:
Tension as Halyvourgia steel factory reopens
Members of PAME, the Communist Party-affiliated union, early on Monday prevented steel workers from entering the Halyvourgia plant west of Athens, according to reports. Last week, police ended a nine-month strike at the private steel plant, clashing with protesters on a picket line, after a c...
30 July, 2012:
Coalition partners meet to finalize cuts
Greek Prime Minister Antonis Samaras will meet on Monday with the other leaders of the country's coalition government to finalize 11,5 billion euros of spending cuts for the next two years required to receive the funds pledged under Greece’s two rescue packages totaling 240 billion euros...
30 July, 2012:
Gun assault during wildfire in Crete
Two men were shot after refusing to stop filming the raging wildfire in Heraklion, Crete on July 30.   Two friends, ages 24 and 35, decided to take video footage of the fire raging in the area of Viannos on their mobile phones. A passenger in a vehicle driven by a farmer demanded that the...
30 July, 2012:
Is it time to get ready for "Eurover"? Eurozone crisis heads for September crunch
Over the past couple of years, Europe has muddled through a long series of crunch moments in its debt crisis, but this September is shaping up as a "make-or-break" month as policymakers run desperately short of options to save the common currency.   Crisis or no crisis, many Eu...
30 July, 2012:
no room for Greek concessions
Schaeuble sees no room for Greek concessions   No further concessions can be made to Greece, Germany's Finance Minister Wolfgang Schaeuble said on Sunday, amid widespread concern that Greece is way off meeting its bailout conditions.   The current bailout plan for Greece was already ...
27 July, 2012:
Macedonia Abused UN Chief's Visit
Greece Says Macedonia Abused UN Chief's Visit In an unusually strongly worded statement, Athens has accused Macedonian Prime Minister Nikola Gruevski of abusing the visit of the UN Secretary General Ban Ki-moon to spread “agitprop” against Greece.   A Greek spokesman app...
27 July, 2012:
Rising HIV Cases
Greece's Latest Crisis: Rising HIV Cases by Joanna Kakissis One of the alarming consequences of the financial crisis in Greece appears to be a sharp rise in the rate of HIV infection. The country, which is struggling through a historic debt crisis and a deep recession, still has one of th...
27 July, 2012:
1.5bn euros
Greece still needs to identify 1.5bn euros in cuts LONDON (SHARECAST) - Despite yesterday’s reports that Greece had identified 11.7bn euros in additional cuts for 2013 and 2014, Parliament has only approved 10bn out of the 11.5bn required according to the terms of its bailout. Leade...
27 July, 2012:
Barroso to Greece: ‘Deliver, deliver, deliver’
European Commission President José Manuel Barroso offered a public show of support to Prime Minister Antonis Samaras in his first visit to Greece in three years, but warned that the nearly bankrupt country must make good on promises to reform. &quo...
27 July, 2012:
Greece ordered to ‘deliver’ on bailout plan
Greece has once again been told to end delays in delivering on its debt reduction plan. European Commission President Jose Manuel Barroso made the comments during his first visit to Athens since the beginning of the eurozone crisis in 2009. He held talks with Greek Prime Minister Antonis Samara...
27 July, 2012:
Ministry applies for open mall funding
By Dimitra Manifava The creation of so-called open shopping malls could be the best possible solution for the local retail sector’s current dire problems, especially in the historic center of the capital, which has been pummeled by the economic crisis. The idea that was first proposed ...
27 July, 2012:
Athens hotels see income shrink
By Stathis Kousounis Athens hotels posted the worst occupancy rates among 10 popular cities across the continent in the first half of the year. Data released on Thursday by the Athens-Attica Hoteliers’ Association showed that the average occupancy rate of two-, three-, four- and five-sta...
27 July, 2012:
Leaders agree bulk of new cuts
About 10 of 11.5 bln euros in savings approved by coalition chiefs, to meet again on Monday Greece’s three coalition leaders agreed on Thursday on how the country is going to make about 10 of the 11.5 billion euros in cuts that the country’s international creditors, known as the tro...
27 July, 2012:
Possible pay cuts for government officials
A draft bill legislating cuts in the total salary of the prime minister, members of cabinet, the Parliament president and the leader of the main opposition was uploaded on the government website for public consultation on Thursday.   The bill is designed to reduce the cost to the public s...
27 July, 2012:
IMF assessing country's debt
The International Monetary Fund said on Thursday program talks with the country's authorities are likely to continue into September and confirmed that part of its work in Athens will include assessing whether the country's debt levels are sustainable.   IMF spokesman David Hawley said it...
26 July, 2012:
90 pct chance
26 July, 2012:
Barroso on Long Overdue Visit to Greece
European Commission President Jose Manuel Barroso is heading to Athens for talks on Thursday amid concern over whether Greece has done enough to have the next tranche of bailout loans. It is his first visit for three years and he is expected to say the EU wants Greece to stay in the euro zone. ...
26 July, 2012:
Barroso to visit Greece today
Tensions are running high in Greece ahead of today's visit by European Commission President Jose Manuel Barroso to Athens, amid increased speculation the country is heading towards debt default. Over the past few days, numerous high-ranking officials have publicly talked about Greece's possib...
26 July, 2012:
Greece mulls breakup of ailing ATEbank
Greece plans to break up ailing state lender ATEbank into performing and non-performing assets, a source close to the talks said yesterday, amid efforts to bolster the country’s troubled bank sector. A meeting on the issue was held on Tuesday between Finance Minister Yannis Stournara...
25 July, 2012:
Greece releases funds for joint campaigns with operators
The Greek government has pledged to fund joint marketing campaigns with operators after “the most positive talks in years” with the new tourism minister. Olga Kefalogianni met operators and Abta following a plea by the trade to the government earlier this year for funding after Gre...
25 July, 2012:
Greece 'on edge of bankruptcy'
Greece 'on edge of bankruptcy'; Spanish yields hit fresh high Spain and Germany have moved to reassure investors the former will not need a full-blown bailout, while Greece has found itself back in the headlines after a warning it faces imminent bankruptcy.   In the latest twist in th...
25 July, 2012:
Germany Bruederle
Germany Bruederle: Greece May Get A Few Months More Time BERLIN (MNI) – Greece will be granted at most a couple of months more time to meet its fiscal and reform goals but not the two years desired by Athens, a senior member of German Chancellor Angela Merkel’s CDU/CSU-FDP govern...
25 July, 2012:
Greece 'cannot pay debts and will need more help'
GREECE is unlikely to be able to pay what it owes and will need a further writedown of its debts, three EU officials said yesterday, a cost that would have to fall on the European Central Bank and eurozone governments. The officials said that twice bailed-out Greece would be found to be way off...
25 July, 2012:
New tourism minister assures
New tourism minister assures agents on Greece Olga Kefalogianni, who came into the post last month following the Greek elections, described the UK as “the most important market for Greece” and said the trade would play a key role in the destination’s tourism recovery. Kefa...
25 July, 2012:
OPAP picks Lottomatica
OPAP picks Lottomatica as online betting partner Europe's biggest listed betting company OPAP said on Wednesday it had picked G2, a unit of Italy's Lottomatica, as its IT provider for expanding into online betting, a business it sees as a key growth driver. OPAP had shortlisted three firms in...
25 July, 2012:
Head of joint chiefs of staff resigns
The head of the joint chiefs of staff, Lieutenant General Constantinos Ziazias, submitted his resignation to the Defense Ministry late on Tuesday, Skai reported. According to sources, Ziazias resigned in protest at the demands by the ministry's political leadership for changes to top level of...
25 July, 2012:
List published
25 July, 2012:
24-hour strike at the Athens News
The staff of the Athens News will be on a 24-hour strike on Wednesday July 25.   Staff took this decision because they have not been paid their salaries for almost two months. Nor have they received their statutory summer pay entitlement.   In addition, freelance staff at the newsp...
24 July, 2012:
Stagnation is not stability
By Nikos Konstandaras In the past few years everything is moving very quickly, as if a dam has broken, freeing forces that sweep away all in their path. In Greece, every day we discover new, more difficult aspects of our crisis; the European Union is being shaken by debt crises and by the turm...
24 July, 2012:
State firms cut salary spending in half
While the government is examining the application of a unified salary scheme for state corporations, the effort to contain salary costs is already bearing frui...
24 July, 2012:
Ax to fall on state organizations
In a bid to show it is serious about pushing through delayed reforms, on Tuesday the government is to make public a list with the first 20 state organizations from around 250 that are to be merged and abolished as part of a drive to raise much-needed revenue. The first 20 organizations on the...
24 July, 2012:
Gov’t risks Greek euro exit, says Tsipras
SYRIZA leader Alexis Tsipras on Monday urged the government to reject the austerity measures being demanded by its troika of lenders as they would ensure Greece’s exit from the eurozone and would “write the last chapter” in the country’s history under the loan agreement,...
24 July, 2012:
PAOK youngster to the Bundesliga
PAOK youngster makes the step up to the Bundesliga   As one of the stars of the Greek U19 side that reached the final of this season's Euro-U19 tournament and a standout youth product of PAOK's well oiled academy machine, PAOK left back Kostas Stafylidis, is no new entry on scoutin...
24 July, 2012:
Tsipras calls to end troika talks
Tsipras calls for government to end troika talks Syriza chief Alexis Tsipras called on the government to end any discussion with the representatives of the EC-ECB-IMF troika, and propose an EU Summit meeting to focus on a different strategy for Greece.    Addressing the Syriz...
24 July, 2012:
EFG Eurobank
EFG Eurobank to split from EFG Group   Greece's second-largest lender EFG Eurobank said on Monday it would split from EFG Group at the request of European regulatory authorities.   EFG Group would transfer 43.55 percent of its 44.7 percent stake in the Greek lender to nine younger...
24 July, 2012:
High Stake Talks
High Stake Talks as Inspectors Arrive in Greece Inspectors from the international lenders keeping Greece afloat return to Athens on Tuesday to relaunch its stalled economic plan and decide whether to keep the nation hooked up to a 130-billion-euro ($157.56 billion) lifeline or let it go bust. ...
24 July, 2012:
Troika arrives in Greece
Debt Crisis: Troika arrives in Greece amid speculation over exit European debt inspectors arrive in Greece today to assess the country's progress in meeting official bail-out targets, amid fresh speculation over the country’s future in the eurozone. Officials from the so-called &qu...
24 July, 2012:
Troika officials visit Greece today
Troika officials arrive in Greece today to try and pull that country's economic programme back on track. Athens could be in conflict with the troika over its continued failure to meet reform targets under its €130bn bailout. The Greek government needs to implement €11.7bn of spendin...
24 July, 2012:
Forex Flash:
Forex Flash: Troika visits Greece, Grexit speculation arises again - UBS and Rabobank (Barcelona) - Although surveys dominate the data flow, the main driver of markets today will likely be any headlines emerging from the Troika’s trip to Greece, according to Christian Lawrenc...
24 July, 2012:
German economy minister criticised
German economy minister criticised for Greece comments Today @ 09:19 By EUOBSERVER German economy minister Philippe Roesler's sharp criticism of Greece and its possible euro-exit has itself been criticised by fellow liberal politicians, reports Spiegel Online. MEP Jorgo Chatzimarkak...
24 July, 2012:
Troika returns to Greece
Officials from the EU, IMF and ECB return to Greece Tuesday to assess how far Athens has progressed with its reforms. This will show how much emergency money the country needs beyond its €130bn bailout. The next tranche of money is not expected to be paid before end of summer....
23 July, 2012:
Greek Q1
Greek Q1 debt-to-GDP ratio at 132.4 percent   Despite a writedown of privately-held Greek debt of unprecedented proportions in March, Greece's debt still amounted to 132.4 percent of GDP at the end of that month -- the highest of any nation in the eurozone -- the European Union's offic...
23 July, 2012:
Schaeuble warns Athens on reforms
German Finance Minister Wolfgang Schaeuble warned Greece in a newspaper interview Monday that it must redouble efforts to comply with bailout conditions imposed by international creditors. "If there were delays, Greece must make up for them,» he told the daily Bild. He declined to ...
23 July, 2012:
Steel mill strikers clash with police
Clashes broke out early on Monday morning between riot police and strikers at the Halyvourgia steel mill in Aspropyrgos, western Attica, when the latter tried to block workers from entering the plant. Halyvourgia started operating again on Friday following a nine-month shutdown due to a labor...
23 July, 2012:
German MP says
Greece should start paying half of its pensions and state salaries in drachmas as part of a gradual exit from the euro zone, a leading German conservative was quoted on Monday as saying. Alexander Dobrindt, general secretary of the Christian Social Union (CSU), the Bavaria-based sister party ...
23 July, 2012:
'unlikely before September,'
23 July, 2012:
Three killed on bus in Chios
Three people were killed and nine others were injured when a KTEL intercity bus fell into a ravine and burst into flames on the island of Chios the morning of July 23.   For reasons yet unknown, the bus driver veered off course while driving on route from Pantikios to Sykiada at 8:30am. ...
23 July, 2012:
Der Spiegel
Der Spiegel sees Greek eurozone exit by September Another day, another horror story concerning a possible Greek exit from the eurozone, in what is fast becoming a veritable trend in the foreign press, with the German press seemingly leading the line.   According to an article that will r...
23 July, 2012:
Coastguard finds 900 kilos of cannabis
Coastguard authorities announced on July 23 that a total of 833.45 kilograms of cannabis were recovered in 585 packages southeast of Ithaki Island.   When a coastguard patrol boat approached a speedboat to conduct a random search on July 22, the two men on board ignored instructions and ...
20 July, 2012:
Tourism minister wants to 'reset' Greece's image
Tourism Minister Olga Kefaloyianni told Skai on Thursday that an improvement in the country's battered international image could help draw in last-minute tourist bookings and raise much-needed revenue. 'Our aim is to reset the country's image to attract more tourist bookings at the last minute,...
20 July, 2012:
BP expects to bring Azeri gas to Greece
BP Plc, Europe’s second-largest oil producer, is seeking equity stakes in two pipeline projects to deliver Azerbaijan’s Caspian Sea gas to Europe. There are two competing proposals to bring Azeri gas from the Turkish border into the European Union: the Trans-Adriatic pipeline, or ...
20 July, 2012:
Greece's privatization agency set for new management
The managing director of Greece’s privatization agency, Kostas Mitropoulos, appears to have tendered his resignation although the official has yet to confirm this publicly. Reports emerged on Thursday night that Mitropoulos had stepped down in order to make it easier for the government ...
20 July, 2012:
Greece in state of emergency
ATHENS - Greek authorities have declared a state of emergency near the country's third-largest city due to raging wildfires. Some 50 residents of a small village outlying the western port of Patras were evacuated earlier in the day as a precaution when flames approached their homes. The fire br...
20 July, 2012:
Migrant abuse in Greece on the rise
Immigrants in Greece have been the target of at least 300 violent attacks in the past three months alone, reports the AP. Local anti-racism campaigners said on Thursday they want the government to stem the violence and claim the attacks are linked to the rise of far-right political parties....
20 July, 2012:
Firefighters fight blazes on Zakynthos, Crete
A fire that broke out on Thursday in Agala, on the Ionian island of Zakynthos, was still raging on Friday, with a dozen firefighters battling the blaze. Another fire in Plakia, Rethymno, on the island of Crete, was under partial control on Friday. Meanwhile on Thursday, a fire which had broke...
20 July, 2012:
Troika visit next week due to be brief
Top officials from the European Commission, the European Central Bank and the International Monetary Fund are expected to spend only four days in Athens next week, when they will be briefed by the government on the measures it plans to take, before producing their report for Greece’s eur...
20 July, 2012:
Flexible labor on the rise in Greece
Flexible forms of labor are continuously gaining ground in the Greek private sector, as data presented by the Labor Inspectorate for the first half of the year showed that 44,122 full-employment contracts were transformed to alternative types, which was 45.3 percent more than in 2011, after a ...
20 July, 2012:
Greece pins hopes on public sector overhaul
Coalition hopes closure of state bodies, new sell-off rules will satisfy lenders The coalition government aims to merge or scrap 200 public organizations by the end of August and to relax rules for private investors interested in buying stakes in “strategic” state enterprises, it e...
20 July, 2012:
Nielsen report says:
Greek consumers among most pessimistic   Greece remained among the top five most pessimistic countries in the world, with consumer confidence remaining below the 60-point level for the last two years, Nielsen said in its latest report on consumer confidence.   The consumer confide...
20 July, 2012:
EU lenders get blunt as reforms stutter
The International Monetary Fund's mission chief for Greece, Poul Thomsen, walked grim-faced into his first meeting with Prime Minister Antonis Samaras on July 5 wearing a black tie looking as if he was going to a funeral.   Whether he was making a point or not, the first meet-and-greet ...
20 July, 2012:
Wildfire burning through Keratea
A wildfire that broke out in the Dionysos settlement of Keratea a few hours after noon on Thursday, is still going strong, with strong winds hindering firefighting efforts.   The fire quickly spread to nearby areas (it is now burning through the Kouvaras forrest) and has already burned t...
19 July, 2012:
Israeli president to visit Greece
Israeli President Shimon Peres (photo) is to visit Greece next month, following a visit by Karolos Papoulias to the Middle Eastern country this time last year, sources said on Wednesday. It will be the first official visit to Athens by Peres, who is to meet with Prime Minister Antonis Samaras...
19 July, 2012:
Cross-checks find pension breaches in healthcare
Greece’s first electronic cross-checks of pension payments and income tax declarations discovered more than 12 percent of health workers receiving benefits are under-reporting their income. The results of the audit also showed that 5.5 percent of members of the pension fund for doctors,...
19 July, 2012:
Metro works resume soon
A tunnel-boring machine will soon resume digging beneath the surface of Athens, from the suburb of Aghia Varvara, west of the center, all the way to Piraeus, a...
19 July, 2012:
Coalition presents united front
 Leaders agree on 'general direction' for 11.5 bln euros in savings for 2013-14, no more cuts this year The leaders of Greece’s coalition government ...
19 July, 2012:
Stoa of Attalos reopens after 30 years
Sculptures of the Stoa of Attalos in the Ancient Agora in central Athens will be showcased on the upper floor of the two-storey 159 BC structure, which reopens to the public on Wednesday after remaining closed for three decades.   Dozens of stone antiquities have been put back on display...
19 July, 2012:
No final decision on €11.5bn cutback plan
The government will meet again next week to finalise the 11.5bn euros cutback plan, Pasok leader Evangelos Venizelos said on Wednesday.   The leaders of the three coalition parties met shortly after 10am to review progress on where the government will make the 11.5bn euros in spending cu...
19 July, 2012:
Looking To Greece For Stock Market Wisdom
"It is a habit of mankind to entrust to careless hope what they long for, and to use sovereign reason to thrust aside what they do not fancy." --Thucydides, Greece, c. 460 B.C - 395 B.C. And so it has been for the stock market over the last several years. The global economy is st...
19 July, 2012:
‘some way to go’
Greece has ‘some way to go’ to meet spending cuts target Greece’s finance minister yesterday said the crisis-hit country had “some way to go” to finalise €11.5 billion in spending cuts demanded by its EU-IMF creditors in return for fresh loans. “We st...
19 July, 2012:
Greece needs more work for EU-IMF cuts
ATHENS  - Greece’s finance minister on Wednesday said the crisis-hit country had “some way to go” to finalise 11.5 billion euros in spending cuts demanded by its EU-IMF creditors in return for fresh loans .“We still have some way to go,” Yannis Stournaras told ...
19 July, 2012:
Greece identifies spending cuts
Greece identified two-thirds of the spending cuts as required to resume loan disbursements, reports the Financial Times. The measures total €7.5bn to €8bn from the €11.5bn cuts due to be implemented in 2013 and 2014. Reductions were identified in government operating costs, grants,...
18 July, 2012:
Greece eyes more deep spending cuts
The heads of three parties supporting Greece’s month-old coalition government are meeting to try and finalize a new round of austerity measures worth €11.5– billion ($14.1-billion U.S.) demanded by international rescue creditors. Conservative Prime Minister Antonis Samaras me...
18 July, 2012:
Europe is Good for Greece, and Turkey, too
WASHINGTON— It is tempting to look at the trajectories of Greece and Turkey — two neighbors bound by a history of competition — and conclude that gaining European Union membership hurt Greece as much as not gaining it helped Turkey. Greece entered the European Communit...
18 July, 2012:
Greece seeks loan to cover funding
ATHENS: Greece's coalition government will seek a bridging loan to tide it over while it scrambles to find 11.7 billion euros ($14.4bn) of spending cuts to bring a derailed bailout plan back on track and appease exasperated international lenders. The measures must be submitted for approval by...
18 July, 2012:
Authorities order evacuation
Authorities order evacuation of villages after fire emergency declared in western Greece ATHENS, Greece — Authorities issued evacuation orders for villages in southwestern Greece on Wednesday where wildfires, aided by strong winds and soaring temperatures, have ravaged large areas. The b...
18 July, 2012:
Talks on Greece austerity measures
The heads of three parties supporting Greece’s month-old coalition government are meeting to try and finalise a new round of austerity measures worth 11.5 billion euro (£9.04 billion) demanded by international rescue creditors. Conservative prime minister Antonis Samaras is meet...
18 July, 2012:
Spurs defender Bongani Khumalo off to Greece
Tottenham defender Bongani Khumalo has joined PAOK on a season-long loan. The South Africa international has previously spent spells at Preston and Reading before completing his move to the Greek Super League today. Khumalo joined Tottenham in January 2011 from South African partner clu...
18 July, 2012:
Greece eyes new round of government cuts
ATHENS, Greece—The heads of three parties supporting Greece's month-old coalition government are meeting to try and finalize a new round of austerity measures worth (EURO)11.5 billion ($14.1 billion) demanded by international rescue creditors. Conservative Prime Minister Antonis Samaras m...
18 July, 2012:
Greece austerity talks continue
The heads of three parties supporting Greece’s month-old coalition government are meeting to try and finalise a new round of austerity measures worth €11.5bn demanded by international rescue creditors. Conservative prime minister Antonis Samaras met with leaders of the Socialist par...
18 July, 2012:
Gaga to build 'floating' home in Greece
Lady Gaga is building a home in Greece that will appear to float in the sea. The property, reportedly costing €12m, is being built in Crete where the 'Born This Way' star bought land last year. Sources told the Daily Star newspaper: "It's going to be absolutely phenomenal when she's ...
18 July, 2012:
Fire threatens homes
Fire threatens homes in western Greece, officials to declare emergency     By The Associated Press July 18, 2012 5:01 AM     ATHENS, Greece - Regional authorities in southwestern Greece say wildfires are threatening village homes outside the city of Petras. N...
18 July, 2012:
Wildfire threatens
Wildfire threatens populated areas in Achaia A major wildfire was raging on Wednesday morning in the region of Argyra in Achaia, threatening populated areas in the communities of Argyra, Kato Kastritsi, Magoula, Sella and Platani, north of Rio.   A team of 70 firefighters with 21 f...
18 July, 2012:
Shippers take advantage of low used-vessel prices
By Nikos Bardounias Greek shipowners are making the most of the investment opportunities arising from a significant drop in used vessel prices, which have fallen 78 percent compared to 2008, despite the difficulties in obtaining funding from banks. They remain the global leaders in new ship ...
18 July, 2012:
Savings remain elusive
Coalition leaders meet Wednesday to mull cuts, which some ministers are resisting Prime Minister Antonis Samaras is due to meet on Wednesday morning with the l...
17 July, 2012:
Stournaras grinding out new cuts
Stournaras grinding out new cuts as talks with ministers continue Finance Minister Yannis Stournaras is due to continue talks with cabinet colleagues on Tuesday after they failed on Monday to agree on the details of the cuts that need to be made for the next two years to satisfy Greece’s...
16 July, 2012:
Chinese to fill vacuum in shipping funding
By Nikos Bardounias Commerzbank-Deutsche Schiffsbank’s decision to depart from the shipping sector has shifted the balance in the ...
16 July, 2012:
Race to turn up 11.6 bln euros
With the pressure growing on the new government to take action toward putting its devastated economy back on track, Finance Minister Yannis Stournaras is on Mo...
16 July, 2012:
Aegean Rally visits Crete this year
By George Georgakopoulos The 49th Aegean Rally kicked off on Saturday from Faliro, south of Athens. The annual race will end on Saturday, July 21, after some of the country’s finest yachts and sailors travel to Hania, Crete, then on to the island of Milos and back to Athens’s Cape...
16 July, 2012:
Searing heat prompts power cuts, forest fires
Searing temperatures over the weekend led to power cuts in many areas as demand for air-conditioning soared while the tinderbox conditions, combined with stron...
16 July, 2012:
Mutiny off southern coast of Crete
16 July, 2012:
Hottest day
Athens heads for hottest day of July heatwave   Temperatures in Athens hit a blistering 40C average on Saturday and Sunday, while they were not expected to fall below 35C until after nine o'clock on Sunday.   The heatwave is set to reach its peak on Monday, according to the ...
16 July, 2012:
More wildfires test firefighters
Two more fires kept firefighting authorities busy on Sunday, the hottest day of the current heatwave.   The first blaze was being fought by firefighters in a forrested area of Pikermi, although as was the case in the greater Attica region yesterday, with low intensity winds blowing across...
16 July, 2012:
Greek Border Offers a Back Door
ALEXANDROUPOLIS, Greece — At the train station here, an unshaven man with a weary look leaned against the brick wall of a building, taking in the morning sun. He said that his name was Zulifoar Baht; that he was 38, from Pakistan; and that his train for Athens would not arrive ...
16 July, 2012:
BP Ventures to Greece - TAP on the Table
Senior BP officials involved with the Shah Deniz consortium recently travelled to Athens to meet with Greek governmental officials to discuss the prospects of the Southern Corridor and specifically, the potential role of the Trans Adriatic Pipeline in the movement of natural gas from the Azeri ...
16 July, 2012:
Greece is the word for Fulop
Former West Brom goalkeeper Marton Fulop has ended his time in England and signed for Greek outfit Astera Tripolis. Astera announced the deal on their official website. The Hungary international, who saw his contract at The Hawthorns expire at the end of last season, has penned a two-year deal. ...
16 July, 2012:
Spain 1 Greece 0
It took Spain 80 minutes to break down Greece in the UEFA European Under-19 Championship final but Jese Rodriguez's late strike in Estonia on Sunday was enough to secure their sixth in the 11 years and their second in succession. In the final for the third year in a row, La Rojita characteri...
13 July, 2012:
fire-fighting resource shortages
Greece worried by fire-fighting resource shortages: minister Greece's new public order minister told reporters on Thursday that one of his main concerns was effectively fighting the forest fires that plague the Mediterranean country in the summer. "When I took on (the new post) I belie...
13 July, 2012:
Greece 'missed' some bailout targets: IMF
The International Monetary Fund today said that Greece had failed to meet a number of targets in the IMF bailout program, insisting it was too soon to discuss revisions to the plan. The International Monetary Fund today said that Greece had failed to meet a number of targets in the IMF bailout...
13 July, 2012:
Greece desire delights Tsanas
According to coach Kostas Tsanas, Greece's "great effort" was the decisive factor in his team reaching Sunday's final, leaving Noel Blake to bemoan England's decision-making. Noel Blake, England coach I'm actually lost for words that we've lost that game. We started really well and ...
13 July, 2012:
IMF says Greece 'missed' some targets
The IMF says it is too soon to discuss revisions to the Greek bailout plan despite Greece failing to meet a number of targets. The International Monetary Fund says Greece has failed to meet a number of targets in the IMF bailout program, insisting it is too soon to discuss revisions to the ...
13 July, 2012:
Greece Must Stare Down Privatization Blackmail
The newly sworn in Greek coalition government is committed to restarting the economy, restoring confidence and boosting its reform credentials by taking action on long stalled privatizations. To succeed, it will have to move quickly, face down blackmail and convince mainstream citizens. In 20...
13 July, 2012:
German Econ MIn says ‘No rebate’ for Greece
Speaking on Deutschlandfunk radio  Philipp Roesler said Greece couldn’t expect a ‘rebate’ on its reforms, and that the IMF, ECB and European commission were running out of patience with the country’s progress in implementing economic reforms. He also added that it ...
13 July, 2012:
Princess of Greece in Waikiki
Princess of Greece makes guest appearance in Waikiki Children and their families had the chance to meet a real-life princess on Thursday night at the DFS Galleria in Waikiki.   The Marie-Chantal Boutique celebrated its one-year anniversary with a party that was open to the public. It...
13 July, 2012:
Greek U19 side reaches Euro final
By George Georgakopoulos Against all the odds, Greece’s national under-19 team has secured a spot in the final of the European Cha...
13 July, 2012:
Deposits return, earnings leave
By Yiannis Papadoyiannis Between 8 and 10 billion euros of deposits have returned to Greek banks in the three weeks that the new government has been in power, covering the losses recorded in May, according to bank officials. “A significant part of the capital that left due to political ...
13 July, 2012:
Ministers discuss new savings
The effort to find 11.5 billion euros in savings for the next two years began in earnest Thursday as Finance Minister Yannis Stournaras met with Cabinet collea...
13 July, 2012:
PM satisfied with leaders meeting
Prime minister Antonis Samaras has said that his meeting with the leaders of the two parties supporting his coalition government had been positive, speaking to reporters after the swearing-in of new deputy labour minister Nikos Panagiotopoulos - the replacement for Nikos Nikolopoulos, who resi...
13 July, 2012:
Environment ministry issues heatwave warning
In a statement issued to the public on Thursday due to the heatwave and high temperatures, the Greek environment ministry urged people to avoid activities that released pollutants into the atmosphere during daylight hours and up until the early evening.   With temperatures reaching their...
13 July, 2012:
Dramatic drop in fuel tax revenues
Greece is earning fewer revenues from gasoline taxes than it did in 2009, before the crisis struck and taxes were hiked, customs officials revealed on Thursday. Speaking at a conference in Thessaloniki, the head of the Federation of Customs Officials, Dimitris Tribonias, said that Greeks have...
13 July, 2012:
Greece to sue former Siemens executives
Greece is preparing legal action against 10 high-ranking current and former executives of Siemens, the German electronics and engineering giant accused of bribing Greek politicians to secure state contracts, Kathimerini understands. The suits are expected to be lodged in September against at ...
13 July, 2012:
BofA claims
Italy and Ireland have more incentive to quit the euro than Greece, while Germany may have limited room to prevent departures from the currency union, according to Bank of America Merrill Lynch. Using cost-benefit analysis and game theory, BofA Merrill Lynch foreign exchange strategists David...
13 July, 2012:
Unemployment in Greece hits record
GREEK unemployment hit a record 22.5% in April and may keep edging higher, with even the key tourism sector under pressure. Near-bankrupt Greece is dependent on aid from the European Union and the International Monetary Fund, who have demanded spending cuts that have helped push its economy int...
13 July, 2012:
Greece's economic competitiveness problems largely solved: Greek economist
VIENNA, July 12 (Xinhua) -- Greece's economic competitiveness problems have largely been solved, Greek economist Yannis Katsoulacos said here Thursday. Katsoulacos said at an economic forum that while the progress Greece has made is not reflected in current statistics, this would become visible &...
13 July, 2012:
England U19s 1 Greece U19s 2
Hall's penalty miss proves costly There is a saying about Greeks bearing gifts. In truth, it was Danish referee Kenn Hansen who generously presented England with a penalty and a man advantage — only for the young Lions to squander it. Most of this team won the Under 17 European Champ...
13 July, 2012:
Greece U19s KO England in the Euro semi-finals in extra time
England 1 – Greece 2 (AET) (European Under-19 Championships, July 12, 2012) Greece took the lead when Mavroudis Bougaidis nodded in a corner but had goalkeeper Stefanos Kapino sent off just after the break – though Robert Hall missed the resulting penalty.  Benik Afobe r...
12 July, 2012:
Government leaders discuss renegotiation
After coming in for much criticism that they were doing little or nothing to seek a renegotiation of the more unfavourable terms of the memorandum, the three government party leaders held a meeting on Wednesday evening to devise a strategy to seek changes to the terms of the country's bailout ...
12 July, 2012:
Lottery only privatisation target for 2012
A delay of a few months in the country's privatisation drive, means it will only be able to complete the sale of its state lottery firm and a building in Athens, its privatisation chief told Reuters on Wednesday.   That would mean the country falls well short of the more than 3 billion ...
12 July, 2012:
Greece's Next Task:
Raise €15 Billion in Privatizations Greece collected less than €1 billion ($1.2 billion) in revenues from privatizations over the last three years. The new Greek government is promising a dramatic turnaround. It has pledged to raise €15 billion by 2015. Athens hopes this ...
12 July, 2012:
Greece committed to renegotiate EU-IMF austerity plan
ATHENS - The Greek coalition government reiterated Wednesday its commitment to renegotiate the austerity plan agreed with its EU and IMF creditors, spokesman Simos Kedikoglou said. "Our goal is to renegotiate" the plan, he said after a meeting between conservative party Prime M...
12 July, 2012:
Chinese ambassador: Beijing is betting on Greece
Beijing is looking at new investments in Greece after the successful running of Piraeus Port by China's shipping giant COSCO, says China's ambassador to Athens. The diplomat spoke with EurActiv Greece in an exclusive interview. Chinese Ambassador Du Quiwen was interview...
11 July, 2012:
Greece’s Golden Dawn brings an ill-wind
A week after an extremist right-wing party recently gained an electoral foothold in Greece’s parliament, 50 of its members riding motorbikes and armed with heavy wooden poles roared through Nikaia, a gritty suburb west of here, to telegraph their new power. As townspeople watched, sever...
11 July, 2012:
Report: EU and Greece turn 'blind-eye' to racist violence
BRUSSELS - Parts of central Athens, associated in many Europeans' minds with tourist cafes and world-class museums, have become "no-go" areas for migrants in fear of racist attacks.NGO Human Rights Watch (HRW) in a report out on Tuesday (10 July) documented 24 serious incidents in ...
11 July, 2012:
Labor minister to hold tough talks with GSEE
Labor and Social Security Minister Yiannis Vroutsis was on Wednesday to continue his meetings with labor groups to discuss the enforcement of long-delayed reforms to the private labor sector. Vroutsis is to meet officials from the General Confederation of Greek Labor (GSEE), Greece's largest ...
11 July, 2012:
Storm in Serres causes damage
Police and the fire service in Serres, northern Greece, were on standby on Wednesday after sudden heavy rainfall and strong winds overnight and in the early hours of the mornning caused serious damage to regional infrastructure, with trees uprooted and roads covered with branches and other deb...
11 July, 2012:
Leaders to discuss bailout strategy with Stournaras
Finance Minister Yannis Stournaras is to brief Prime Minister Antonis Samaras and the leaders of the other two parties in the coalition government on Wednesday...
10 July, 2012:
Tourism, catering employees begin strike
Tourism, catering employees begin 48-hour strike, as shipyard workers hold rally Workers in the tourism and catering sector began a 48-hour strike on Tuesday morning, and have scheduled a protest rally later in the day at central Korai Square, as Skaramangas shipyard workers gathered in front ...
10 July, 2012:
Labor minister to open social dialogue
Labor and Social Security Minister Yiannis Vroutsis has scheduled back-to-back meetings on Tuesday with professional groups in an effort to sound them out on long-delayed reforms to the labor market, while on Wednesday he is scheduled to meet with the head of the General Confederation of Greek...
10 July, 2012:
Eurogroup puts off looking
Eurogroup puts off looking at Greek program until September Eurozone finance ministers will discuss Greece’s bailout program in September after the troika has completed its inspection in Athens, the Eurogroup decided on Monday. The troika is due to deliver a report on the state of the G...
10 July, 2012:
Katidis lifts Greece
Katidis lifts Greece into last four at Portugal's expense Published: Monday 9 July 2012, 18.15CET Portugal 2-3 Greece Captain Giorgos Katidis scored twice, including the 69th-minute winner, as Greece prevailed in a thrilling encounter to finish second in Group A. Greece emerged triu...
10 July, 2012:
Greece rocked
Greece rocked by official's resignation over austerity measures Greek deputy labor minister Nikos Nikolopoulos accuses the government of not doing enough to renegotiate rescue loans. ATHENS — In the latest resignation to rock Greece's beleaguered government, Deputy Labor Minister Nik...
10 July, 2012:
Think tank predicts tough times ahead
Greece's crippled economy will slump a steeper-than-expected 6.9 percent this year, a think-tank run until last week by the finance minister said on Monday, further hampering government efforts to meet deficit targets set by foreign lenders.   The forecast, from the Foundation for Econom...
10 July, 2012:
Russia sees loan to Cyprus as possible
Russia may provide Cyprus a loan to recapitalize the island’s banking system after it began to suffer from ties to Greece’s lenders, said Vladimir Chizhov, Russia’s ambassador to the European Union. “If the talks conclude with an agreement, it will be a bilateral agreem...
10 July, 2012:
Stark warning of deeper recession
 IOBE says GDP will drop by almost 7 pct this year, but privatizations could turn things around By Sotiris Nikas Greece’s e...
09 July, 2012:
Greece's New Govt Clinches Confidence Vote
Greece's new three-party coalition government won a confidence vote early on Monday. All MPs of the three parties supporting the government - conservative party New Democracy, left-wing PASOK and moderate leftist Democratic Left – voted in favor, gathering a total of 179 votes. Voting ...
09 July, 2012:
Greece To Sell Four Jets For USD$40 Million
Greece will sell four Airbus A340-300 passenger jets that belonged to former state carrier Olympic Airways as part of divestments to pay down public debt. The aircraft will be sold to Apollo Aviation Group, the highest bidder in a tender, for USD$40.4 million based on a decision by incoming F...
09 July, 2012:
Ministers seek to untangle measures to help euro
Eurozone finance chiefs will try to flesh out plans to reinforce the single currency on Monday but their talks in Brussels may do little more than highlight the limitations of last month's deal to help indebted states and banks. Decisions on banking supervision, how to use eurozone bailout mo...
09 July, 2012:
Must meet our obligations first
We must meet our obligations first, gov't spokesman says  Greece must bring deficit reduction plan within target before it can demand changes, says Kedikoglou Greece will have to bring its deficit reduction program within target range before it can demand a renegotiation of its bailo...
09 July, 2012:
Privatizations send the main signal
By Vangelis Mandravelis The investment community is awaiting clarification of the government’s intentions regarding the breadth of privatizations heralded by Prime Minister Antonis Samaras in his government’s policy program on Friday. According to the plan, a large number of publi...
06 July, 2012:
Greece looks to easier rescue terms, eurozone gloom returns
ATHENS: The new Greek government presents on Friday a strategy to salvage its debt rescue programme, win favour with EU-IMF auditors and gain room to renegotiate terms with the EU and IMF. But the state of the economy is grim and the eurozone climate is tough. Creditors have warned Gree...
06 July, 2012:
EU handling of Greece forced Cyprus bailout, minister says
By Honor Mahony NICOSIA - Cyprus has lashed out that short-sighted and German-led thinking by negotiators of Greece's bailout deal has forced the Mediterranean island into asking for euro aid that it would otherwise not have needed. "Effectively because of our close proximity (to Greece)...
06 July, 2012:
Attica zoo
06 July, 2012:
Ministry unable to collect tax fines
Over 12.5 billion euros in penalties could have entered state coffers had the mechanism worked By Prokopis Hatzinikolaou The Finance Min...
06 July, 2012:
Immigration, sell-offs prove obstacles to coalition consensus
A couple of key obstacles remained on Thursday night to agreement between the three coalition parties ahead of Prime Minister Antonis Samaras appearing in Parliament on Friday to present the government’s policy program. According to sources, the two major differences were the privatizat...
06 July, 2012:
Gov't to present policy program in Parl't
Prime Minister Antonis Samaras is on Friday evening, at 6.30 p.m., to present his coalition government's policy program in Parliament, ending speculation about how the administration plans to move forward with implementing reforms. The premier, who had his first meeting with representatives o...
06 July, 2012:
Syriza fire off against Asmussen comments
The figure of 3,000 euro per month quoted as the 'average' Greek public-sector salary by European Central Bank executive board member Joerg Asmussen was simply wrong, the main opposition Radical Left Coalition (Syriza) party parliamentary spokesman Panagiotis Kouroublis stressed on Thursday. ...
06 July, 2012:
EU Task Force pledges to help improve e-systems
The head of the European Union's Task Force for Greece Horst Reichenbach on Thursday said that his team intends to provide the country's new health minister with every possible help in getting an electronic prescription system running smoothly and in properly organising an electronic system fo...
06 July, 2012:
KKE attacks Hellenic Sugar privatisation
Communist Party of Greece (KKE) General Secretary Aleka Papariga on Thursday stressed her opposition to the planned sale of the state-owned Hellenic Sugar Industry (EBZ), calling the plan to sell off the country's remaining sugar processing plants "a political and financial crime". ...
06 July, 2012:
Digital TV switchover to begin on July 20
Greece will start the switchover to a fully digital signal for television on July 20, when the analog signal of nationally broadcast television stations currently transmitted from Mount Ymittos in Attica will stop, the digital provider Digea announced on Thursday.   Areas served by the...
05 July, 2012:
Cutting VAT on hotels
Greece considers cutting VAT on hotels Greece’s new government is considering bolstering tourism by cutting VAT on hotels and restaurants, having already re-established a tourism ministry. The government aims to reduce the 23% VAT rate on rooms to 12%-15%, moving in the opposite direc...
05 July, 2012:
First meeting with troika officials
Prime Minister Antonis Samaras is set to meet top-ranking envoys representing Greece’s international creditors at 1 p.m. on Thursday before briefing officials of his coalition government who are seeking to finalize the administration’s policy program ahead of its scheduled presenta...
05 July, 2012:
Extra Eurogroup to discuss Greece
Eurozone finance ministers will likely convene on July 20 to give the troika new mandate   By Nikos Chrysoloras BRUSSELS - The council of eurozone finance ministers, known as the Eurogroup, may hold an extraordinary meeting on July 20 to discuss the situation in Greece and in Spain, accord...
05 July, 2012:
Extra payments to Parliament employees to be blocked
Parliamentary speaker Vangelis Meimarakis insisted on Wednesday that he would block a bonus payment of 1.3 million euros to parliamentary staff approved by his predecessor ahead of last month’s elections. It emerged yesterday that New Democracy MP Vyron Polydoras, who served as the Hous...
04 July, 2012:
Greece plea amid 'alarming' data
Greece's new government will present "alarming" data on its recession and unemployment to international debt inspectors this week in a bid to renegotiate the terms of its bailout agreements, a spokesman has said. Simos Kedikoglou said in a television interview that the data would demo...
04 July, 2012:
David Cameron
I'll do 'whatever it takes' to protect United Kingdom from Greek influx David Cameron has defended plans to close Britain’s borders to Greeks fleeing their country’s economic problems, saying he would do anything necessary to protect the United Kingdom. He was speaking after ...
04 July, 2012:
PM to meet coalition partners for prep talks
Prime Minister Antonis Samaras is due to meet with the leaders of the other two parties in the coalition government, socialist Pasok chief Evangelos Venizelos and Fotis Kouvelis of the Democratic Left on Wednesday in a bid to prepare for a meeting with top-ranking officials of the country's in...
04 July, 2012:
Cyprus bank bailout 'could cost 10 bln euros'
The cost of bailing out Cyprus' banks, weakened by exposure to Greece, could hit 10 billion euros, a newspaper reported on Wednesday, referring to preliminary estimates by IMF officials visiting the island. The figure, cited by the well respected daily newspaper Phileleftheros, is in line wit...
03 July, 2012:
Government spokesman confident of changes to bailout terms
The coalition government will attempt to convince troika officials, who were due to begin their inspection in Athens on Tuesday, that Greece must follow a “new path” to overcome its economic crisis, said government spokesman Simos Kedikoglou. Speaking to Mega TV, Kedikoglou said P...
03 July, 2012:
Troika key talks to start in late July
Envoys lay ground for audit as creditors temper Greek hopes for concessions A technical team representing Greece’s international creditors is to meet wit...
03 July, 2012:
Emporiki Bank confirms take-over talks
Emporiki Bank confirmed on Monday that it was in talks with other lenders, as France's Credit Argicole tries to sell all or part of its struggling Greek unit.   "Emporiki confirms that it has engaged in discussions with Greek banking organisations and the competent regulatory author...
02 July, 2012:
Stick to the program, says the ECB's Joerg Asmussen
By Tom Ellis Greece is still bound to the commitments it has made in terms of achieving fiscal targets outlined in the Memorandum of Understanding (MoU) signed with its lenders following the decisions reached at the European Union summit last week, ECB executive board member Joerg Asmussen to...
02 July, 2012:
Athens can harbor bank recap hope
 Exclusion of the 50 bln euros for credit system from the state debt may come as incentive By Dimitris Kontogiannis The recent Eu...
02 July, 2012:
IKA fund launches second census of pensioners
Greece’s main social security fund, IKA, launched on Monday a second census of pensioners in a bid to tackle possible fraud and root any people that are claiming retirement pay illegally. Greeks claiming a state pension have until September 28 to present themselves either at an IKA offi...
02 July, 2012:
SYRIZA chief calls for Greek veto
Alexis Tsipras, the leader of the main opposition party, anti-bailout SYRIZA, on Saturday called on the new coalition government to veto an agreement by European Union leaders to prop up banks unless Greece is allowed to benefit from it in the same way as Italy and Spain, two much bigger econo...
02 July, 2012:
Government braces for troika
 PM Samaras expected to push for EU pact on banks to be extended to Greece With officials representing Greece’s foreign creditors back for talks delayed by weeks of political upheaval, Prime Minister Antonis Samaras and his new government are bracing for a tough week of talks as Athe...
02 July, 2012:
Euro defeat for Merkel?
At first glance, the big winners from Europe's latest euro-saving summit were the leaders of Italy, Spain and France.   By banding together in a powerful coalition to challenge Germany, the high-stakes meeting seemed to show, Mario Monti, Mariano Rajoy and Francois Hollande were able to w...
29 June, 2012:
The new cabinet Priests arrested for forged payroll scam
Two priests responsible for managing the payroll for clergy in the Thessaly and Farsala diocese have been arrested on charges of embezzlement and fraud to the amount of 690,000 euros in the first half of 2012. The two are accused of tampering with the amounts recorded on payroll documents in o...
29 June, 2012:
Security firm spies on Reuters correspondent
A private security team was hired to follow and photograph a Reuters special correspondent who has written a series of articles exposing mismanagement in Greek banks.   Stephen Grey, who was in Athens last week for further reporting, was followed to a meeting at a building in the city on ...
29 June, 2012:
Unilever demonstrates its rediscovered faith in Greece
y Dimitra Manifava Greece’s strategic significance for multinational firm Unilever is about to get a boost, as the Anglo-Dutch group intends to transfer part of its production from other European countries to its Greek units. Three years after deciding to sell Elais, a traditional Greek f...
29 June, 2012:
Italy, Spain secure bond support at Brussels summit
Euro zone leaders agreed on Friday to take emergency action to bring down Italy's and Spain's spiralling borrowing costs and to create a single supervisory body for euro zone banks by the end of this year, a first step towards a European banking union. Responding to pleas from Spanish and Ita...
29 June, 2012:
Hopes for bailout renegotiation tempered in Brussels
Greece lowered expectations on Thursday about any substantial reworking of the terms of its bailout -- with Prime Minister Antonis Samaras insisting the government would meet its targets as long as some “modifications” are made -- as European Union leaders gathered in Brussels. In...
29 June, 2012:
Greece’s political crisis persists
By Anne Applebaum, Friday, June 29, 1:40 AM eleven days ago, the apocalypse did not happen. The Greek elections took place, and the radicals did not win. Syriza — the neo-Marxist, anti-austerity party whose members call one another “comrade” and whose policies i...
28 June, 2012:
New Parliament to convene Thursday
Swearing-in of 300 MPs elected on June 17 to be followed by speaker appointment on Friday ...
28 June, 2012:
Papoulias fills in for Prime Minister
 President in Brussels to hand EU leaders Samaras letter on changes to bailout terms President Karolos Papoulias, who is leading the Greek delegation at a crucial summit that begins in Brussels Thursday, is expected to present European Union leaders with a letter from Prime Minister Antoni...
28 June, 2012:
Greece’s downward economic spiral
  David Ignatius   KIFISIA, GREECE—This upscale suburb of Athens offers a snapshot of a country sliding toward bankruptcy. It’s an ugly picture, as expectations of prosperity and stability vanish, and fear begins to take over. The trendy shops in the town c...
27 June, 2012:
Cheap but cheerful?
Simon Calder: Cheap but cheerful? Or a summer of discontent for tourists in Greece?   Don't believe everything you read about Greece: the country is as open to visitors as it has ever been Myth, like crisis and democracy, is a concept bestowed upon the world by Greece. You m...
27 June, 2012:
Greece chooses euro champion Stournaras as finance minister
GREECE yesterday named liberal economist Yannis Stournaras as its new finance minister, replacing Vassilis Rapanos who quit on Monday after less than a week in the job. Stournaras, an economics professor at the University of Athens and the head of the influential IOBE think-tank, has the...
27 June, 2012:
Greece third most popular cruise destination but only sixth in revenues
Greece is the third most popular cruise destination, with a 17 percent share of the market, but only sixth when it comes to the amount of revenues earned. ...
27 June, 2012:
Microsoft headquarters in Greece attacked
Assailants attacked the offices of Microsoft in Athens early on Wednesday, driving a van through the front doors and setting off an incendiary device that burned the building entrance, police said. There were no reports of injuries in the pre-dawn attack on the US company's headquarter...
27 June, 2012:
Head of Greece's privatization fund resigns
27 June, 2012:
‘Mr. Euro’ leads Greece’s charge
New finance minister must win more time, money from lenders while encouraging reform at home   By Deepa Babington and Lefteris Papadimas, Reuters ATHENS — Yannis Stournaras, a respected liberal economist, was named Greece’s new finance minister on Tuesday after the su...
27 June, 2012:
Yannis Stournaras appointed
The respected economist replaces Vassilios Rapanos, who resigned Monday after he was hospitalized with stomach pains. Respected economist Yannis Stournaras, who earned the nickname "Mr Euro" for his role in negotiating Greece’s entry into the euro zone, has just taken on the d...
26 June, 2012:
Cyprus to ask for bailout from eurozone partners
Cyprus has told the European authorities that it intends to apply for financial assistance, the fifth eurozone member to do so. It said it needs help to shore up its banks, which are heavily exposed to the Greek economy. The announcement came on another day of nervousness about the single curren...
26 June, 2012:
Greek designated finance minister Vassilis Rapanos resigns
Greece's newly designated finance minister, Vassilis Rapanos, has resigned less than a week after being appointed to the job. In a letter to new Greek Prime Minister Antonis Samaras, Mr Rapanos said he was stepping down due to ill health. Mr Rapanos was admitted to hospital last week suffering f...
26 June, 2012:
Funding freezes as cash clock ticks
Commission confirms troika will arrive next week, while Athens will have money until end-July By Nikos Chrysoloras BRUSSELS - The Europe...
26 June, 2012:
Temperature to hit 40C on Tuesday
he temperature is expected to hit 40 degrees Celsius in parts of Greece by the early afternoon on Tuesday on the tail of over a week of temperatures hovering around the mid-30s and rising levels of humidity. The Hellenic National Meteorological Service said that the eastern mainland, which incl...
26 June, 2012:
Greece faces more woes: Finance minister resigns
The banker who was chosen to be Greece's next finance minister resigned for health reasons Monday three days after he was rushed to the hospital, while the country's prime minister was confined to his home, recovering from serious eye surgery. Greece's debt woes took a backseat to the healt...
26 June, 2012:
Greece faces fresh turmoil
Greece faces fresh turmoil as finance minister quits By Harry Papachristou and Karolina Tagaris Tuesday June 26 2012 Major hurdle for new coalition as talks on bailout terms loom Greece's new finance minister resigned because of ill health yesterday, throwing the government's drive to so...
25 June, 2012:
Greece seen blocked from debt markets until 2017
Greece may have to wait at least another five years before it can sell bonds to investors, according to financial institutions that trade debt with European governments. A new administration in Athens and signs that European Union leaders are willing to loosen Greek austerity measures failed ...
25 June, 2012:
Fitch downgrades Cyprus on Greece exposure fears
Credit rating agency Fitch downgraded Cyprus's sovereign ratings today. It also put them on negative outlook, citing the exposure of the euro zone island's banks to toxic Greek debt. Fitch Ratings said it lowered Cyprus' long-term foreign and local currency issuer default rating to BB+ from BBB...
25 June, 2012:
Germany, Greece and the Marshall Plan, another riposte
In the New York Times, Hans-Werner Sinn of Germany's Ifo Institute for Economic Research argued that Greece has already received far more help than Germany received under the post-war Marshall Plan. In a guest post on Free Exchange, Albrecht Ritschl of the London School of E...
25 June, 2012:
Expect no decisions
Expect no decisions on Greece at EU summit, German spokesman says The European Union will probably not take any decisions on debt-stricken Greece at its summit later this week, German government spokesman Steffen Seibert said on Monday, dashing Athens' hopes it might ease the terms of its bail...
25 June, 2012:
German Minister says
Greece hasn’t done enough to fulfill promises PanARMENIAN.Net - Throwing more money at the eurozone debt crisis will not solve the problem because the troubles have to be resolved at the cause, German Finance Minister Wolfgang Schaeuble said on Sunday, June 24. According to Reuters, Sc...
25 June, 2012:
Investors looking ahead to EU summit
LONDON (SHARECAST) - -German referendum on further EU integration possible-Der Spiegel -Soros believes Greece will not be able to meet austerity targets -German FM tells Greece to get on with reforms FTSE-100: -0.50% Dax-30: -1.32% Cac-40: -1.27% Stoxx 600: -0.88% Ibex 35: -1.95% ...
25 June, 2012:
German Bonds Rise
German Bonds Rise on Divisions Over Debt-Crisis Plan German bonds rose, outperforming all their euro-area peers, as investors sought safer assets amid pessimism that European leaders can resolve differences on how to end the sovereign debt crisis and boost growth. Longer-maturity securities ...
25 June, 2012:
EU warned over supplies of medicine to Greece
By EUOBSERVER Europe's drug industry has written to EU leaders to seek help to keep medicines flowing to crisis-hit countries like Greece, Reuters reports. The industry wants to prevent discounted products in southern Europe from being exported to rich states in the north and wants E...
25 June, 2012:
Germany tells Greece to stop asking for help and start cutting budgets
GERMANY has told Greece to stop asking for more help and get on with implementing the reforms it has already promised as tensions mount before this week’s crucial summit of European Union leaders. In unusually blunt remarks, German finance minister Wolfgang Schaeuble said: “The mo...
25 June, 2012:
Troika to postpone Greece visit
A visit to Athens Monday by Greek lenders - the EU, ECB and IMF - has been postponed after Greek PM Antonis Samaras underwent eye surgery Saturday. Incoming finance minister Vassilis Rapanos is also unavailable. He has been in hospital since Friday following stomach pains....
25 June, 2012:
Deep division in Greece
Pro-bailout party New Democracy may have come first in Sunday’s Greek election but the radical left anti-austerity SYRIZA bloc was celebrating as if it was the real winner. The election exposed a struggling nation deeply divided over whether to implement a harsh austerity package, the ...
25 June, 2012:
Europe's Tower of Babel hampers euro solution
As Europe considers a leap towards closer integration to try to save the euro single currency, it resembles the biblical Tower of Babel - unable to complete an ambitious project because the residents don't speak the same political and economic language.   The spotlight is on Germany, Fra...
25 June, 2012:
Government will have to forgo some promises
By Dimitris Kontogiannis The new Greek coalition government is not off to a great start but it does have to be given some time to formulate policy and leave its own footprint. However, one thing is certain. It has to backtrack from some of the points of the policy program announced by the lead...
25 June, 2012:
OTE may sell Bulgaria unit
Hellenic Telecommunications Organization SA, (OTE) Greece’s largest phone company, may sell its Bulgarian Globul mobile-phone unit if it can get a satisfactory price, Imerisia reported, without citing anyone. The sale of the unit could raise at least 800 million euros ($1 billion) and t...
25 June, 2012:
New ministers see hope in old practices
The government will do its utmost to support the country’s merchant marine and broaden its contribution to the national economy, the new Minister for Mer...
25 June, 2012:
Health problems upset Greece's renegotiation plans
The coalition government’s hopes of making a decisive start to its efforts renegotiate the terms of its loan agreement with the eurozone and the International Monetary Fund have been dealt a blow as neither Prime Minister Antonis Samaras, nor incoming Finance Minister Vassilis Rapanos, w...
25 June, 2012:
Coalition sets out policies on bailout, growth and political reform
Greece’s coalition government –- only the country’s third in more than 40 years –- unveiled over the weekend the policy platform which i...
25 June, 2012:
Germany too strong for Greece
By George Georgakopoulos Germany thrashed Greece 4-2 to advance to the semifinals of the European Championship on Friday, with the Greek...
25 June, 2012:
Battle-hardened Greece finally forced out
Having got out of several awkward situations, Greece have plenty to be proud about after exiting UEFA EURO 2012. Vassilki Papantonopoulou assesses their campaign.   Greece wound back the clock after a terrible start to UEFA EURO 2012, surpassing expectations by reaching the quart...
25 June, 2012:
Greece Euro exit is filled with sense of pride
Published on Sunday 24 June 2012 01:12 ON THE football pitch, at least, Greece proved they could still rub shoulders with the continent’s big hitters at Euro 2012. While the politicians squabble over the country’s dire financial situation and ordinary Greeks struggle to cope with the...
25 June, 2012:
Greece duo call it a day
Nikos Liberopoulos and Kostas Chalkias have announced their retirement from international football following Greece's elimination at Euro 2012. Liberopoulos won his 76th cap during Friday's 4-2 quarter-final defeat to Germany. He made his international debut in 1996 and was a regular in Gree...
25 June, 2012:
Greece pay the penalty for defensive tactics
It is hard to understand how a team playing so defensively can win a knockout match against one of the best and more consistent teams in the tournament Abu Dhabi: Fernando Santos, the Portuguese head coach of Greece, should shoulder a lot of the blame for the 4-2 defeat to Germany in the Euro...
25 June, 2012:
Second-half flurry of goals send Germany past Greece at Euro 2012
GDANSK, Poland (AP) -- With Chancellor Angela Merkel cheering every step of the way, Germany dominated Greece - on the football field. The Germans reached the European Championship semifinals for a record seventh time by beating Greece 4-2 Friday in a match played amid the contentious politic...
22 June, 2012:
Germany, Greece clash over the EURO
More than a match of two teams on the pitch, the EURO 2012 quarter-final between Germany and Greece has been billed by many as a political battle of wills. Some see a win against Germany as a matter of national pride. Greek sports papers are eager for the big clash. "Bring on Merkel&q...
22 June, 2012:
Germany Vs. Greece: More Than A Game
From the very moment Greece was issued aid by its European partners, its harshest critic and most stern policeman has been Germany. The Germans, you see, are budget minded and perennially profitable. Thus, the nation's austere populace wonders aloud why they should pay for Greek negligence. ...
22 June, 2012:
Greece's pain a warmup for Europe, U.S.
  This editorial is being reprinted from USA Today, where it was first published. Sunday's election in Greece is generating considerable scrutiny among politicians, economists and big investors. To many Americans, however, the outcome raises a simple question: Why should I care? So ...
22 June, 2012:
No Honeymoon period
. No honeymoon period, Greece PM tells new cabinet The new Greek prime minister says his coalition government will have no honeymoon period and its goal is to pull what he calls the “traumatised” country out of the crisis. Antonis Samaras said ministers would take a 30 percent pay c...
22 June, 2012:
Greek Davids ready to topple German Goliaths
GDANSK - Greece coach Fernando Santos said on Thursday he is happy for his team to play the role of David in Friday's Euro 2012 quarter-final -- providing the Greeks topple European Goliaths Germany. The Germans are bidding for a fourth European crown, having last tasted success 16 years ago,...
22 June, 2012:
IMF chief puts pressure on Germany for more euro measures
The head of the International Monetary Fund warned Thursday that the euro is under “acute stress” and piled pressure on Germany by advocating a ser...
22 June, 2012:
Poll tamperer given three-year sentence
An electoral representative for the leading New Democracy party was handed a three-year jail sentence on Friday, after being found guilty of tampering with the ballot box during general elections last Sunday, Skai has reported. The 53-year-old woman from Lamia in central Greece denied charges...
22 June, 2012:
Labor deputy calls for 'shield' against unemployment
The newly-sworn deputy labor minister, Nikos Nikolopoulos, who is also a New Democracy MP for the prefecture of Achaia, said on Friday that the number one priority of his ministry is measures to combat unemployment. "Our immediate goal is to raise a shield against unemployment and povert...
22 June, 2012:
Eurogroup defers decision on changes to Greek bailout
Eurozone finance ministers did not discuss in detail possible changes to Greece’s bailout terms when they met in Luxembourg on Thursday but agreed to rel...
22 June, 2012:
Greece set to ‘fight’ Germany
By NESHA STARCEVIC Last Updated: 12:48 AM, June 22, 2012 Posted: 12:47 AM, June 22, 2012 GDANSK, Poland — Germany’s most prominent fan will be in the stands for today’s quarterfinal against Greece at the European Championship. Chancellor Angela Merkel,...
22 June, 2012:
Greece names new cabinet
Greece on Thursday named a new cabinet to end two months of deadlock. It faces the immediate challenge of trying to revise an unpopular EU-IMF bailout deal and escape a punishing recession. The announcement came a day after conservative leader Antonis Samaras was sworn in as prime minister fol...
22 June, 2012:
Euro 2012: Greece determined
Euro 2012: Greece determined to overcome Germany and avoid winding-up order in quarter final Greece wants the economic bully knocked out, Germany wants a debt repaid. The undercurrent was volatile enough to provoke an electrical storm in Gdansk as the opposing managers gave their pre-match ...
22 June, 2012:
Greece faces ejection from top equity league
By Sujata Rao Crisis-racked Greece has become the first country to face the threat of relegation to emerging market status from the elit...
22 June, 2012:
Greece aiming
Greece aiming to boot Germany out of the Euros Unheralded Greece take on the might of Germany on Friday in what represents a classic modern day grudge match. Greece’s footballers have a chance to show their beleaguered nation will not be dumped out of the Euros without a fight. By FRANC...
22 June, 2012:
Prays for 'Minor Miracle' against Germany
Greece Prays for 'Minor Miracle' against Germany Greece forward Dimitris Salpingidis has admitted his team needed a "minor miracle" to defeat Germany on Friday in the Euro 2012 quarterfinals at Arena Gdansk. "Germany are the favorites, we are the underdogs, but think about ...
22 June, 2012:
Greece forms cabinet; to revise bailout terms
ATHENS: Greece named a new cabinet to end two months of political deadlock yesterday and said it would aim to revise the terms of an unpopular EU-IMF bailout deal but without risking its Eurozone membership. The announcement came a day after conservative leader Antonis Samaras was sworn in as...
22 June, 2012:
Troika to return to Greece on Monday
By EUOBSERVER The troika of officials from the European Commission, International Monetary Fund and the European Central Bank will return to Athens on Monday (25 June) after three months of absence, IMF chief Christine Lagarde said Thursday. The troika will assess the programme delay...
22 June, 2012:
Greece aim for giant-killing act
Greece are hoping for another Euro 2012 giant-killing when they take on Germany with the political spectre of the Eurozone crisis hanging over tonight’s quarter-final. Having shocked Russia 1-0 on Saturday in Group A to confirm their place in the Gdansk last-eight clash, runners-up Greec...
22 June, 2012:
Euro 2012 preview: Greece v Germany
Brian Strahan, 22 June 2012 Tony Soprano would have been impressed at the authenticity of Giorgios Karagounis’s impression of a delirious Mafioso. Such was the pain etched on the face of the Greek captain when a second yellow card of the tournament was shown to him against Russia. Th...
22 June, 2012:
Merkel's presence could lift Greece
GDANSK - Germany's most prominent fan will be in the stands, and that could pro vide extra motivation for Greece in the European Championship quarterfinals. Chancellor Angela Merkel is believed to bring luck to the German team, but she is not popular in Greece. So passions could be running hi...
22 June, 2012:
Greece Rules Out Massive Layoffs
By NEKTARIA STAMOULI, STELIOS BOURAS and COSTAS PARIS ATHENS—Greece's new three-party coalition government on Thursday ruled out massive public-sector layoffs, a move that could help pacify restive trade unions but could set it on a collision course with international creditors demanding...
22 June, 2012:
more than just football
'We want to put a smile on people's faces' - Why Germany v Greece means more than just football While the troubled country's players have attempted to play down the political implications of the quarter-final, a rivalry has developed out of the current European crisis has become an iconic sym...
22 June, 2012:
Loew not taking Greece lightly
Germany coach Joachim Loew is confident his team will find a way through what he expects to be a wall of Greece players protecting their own penalty area in Friday night’s Euro 2012 quarter-final. The two nations meet in Gdansk with the Euro 2008 runners-up overwhelming favourites to b...
21 June, 2012:
Opinion (Deutsche Welle)
Opinion: No mercy for Greece's new old political elite Europe can say 'yes' to somewhat relaxing the reform timetable for Athens, but it should have no mercy with Greece's new old political elite, says DW's Spiros Moskovou. Every crisis also presents new opportunities – even in the...
21 June, 2012:
No Time To Lose
No Time To Lose For Greece's Latest PM Robert Nisbet, Europe correspondent, in Athens Antonis Samaras may be Greece's new prime minister but the 61-year-old economist will get little opportunity to savour the victory. He now has to assemble a coalition of diametrically-opposed political views...
21 June, 2012:
Energy market gets cash boost
By Chryssa Liaggou The energy sector breathed a sigh of relief on Wednesday as the Deposits and Loans Fund disbursed 130 million euros and 100 million euros to the Public Power Corporation (PPC) and the Public Gas Corporation (DEPA) respectively. The problem is that the loans do not seem to ...
21 June, 2012:
Alpha refutes Emporiki asset talks
Reports have linked local group with rival’s loan portfolio, commercial activities Alpha Bank rushed on Wednesday to quell speculation regarding a possible...
21 June, 2012:
Greeks all fired up for Germany clash
LEGIONOWO - Greece is in fighting mood ahead of their crunch Euro 2012 quarter-final on Friday against tournament favorite Germany, aiming to conjure up the spirit that helped them win the trophy eight years ago. Panathinaikos midfielder Costas Katsouranis said they were giving no thought to ...
21 June, 2012:
Creditors seem open to talks
The formation of a government broadly committed to honoring its obligations to international creditors is said to have reassured officials in Brussels, who appear to be open to talks on possible adjustments to Greece’s loan deal, though probably only on the level of extending the fiscal ...
21 June, 2012:
Samaras PM as coalition comes together
ND leader sworn in but cabinet due Thursday after parties agree on role in new gov't Antonis Samaras was sworn in as prime minister on Wednesday and his coaliti...
21 June, 2012:
Despite crisis, Greece still functions
Despite crisis, Greece still functions Its economy is experiencing significant hardship, but many Greeks still have a decent standard of living and the country is at very little risk of conflict. By CHRISTOPHER TORCHIA Associated Press ATHENS, Greece — A conversation in ...
21 June, 2012:
Prediction for Greece vs. Germany
Euro 2012: Quarterfinal Odds, Preview and Prediction for Greece vs. Germany GREECE vs. GERMANY Date: Friday, June 22, 2012 Location: PGE Arena Gdańsk (Gdańsk, Poland) Time: 2:45 p.m. ET/11:45 a.m. PT Television: ESPN, ESPN Deportes Computer: Watch ESPN (Formerly ESPN3) Odds To Advanc...
21 June, 2012:
‘giving hope’ to Greece
Samaras gets down to work ‘giving hope’ to Greece Thursday sees the first full day of work for Greece’s newly formed coalition government but Prime Minister Antonis Samaras still needs to name a cabinet. Together with his new socialist and left wing colleagues, he’s p...
20 June, 2012:
Excessive pressure on Greece is misguided: Economist
June 19 - Global pressure on Greece is misplaced and leades must recognise that the country's economy will not rebound unless it's given proper assistance, according to a leading private sector economist. ...
20 June, 2012:
Good tidings from Greece
Last Sunday, the world held its breath as the first results from the Greek election started to trickle in. New Democracy, the centre-right party which is a member of the European People’s Party, emerged as the winner. ... the Greek voters decided... to stay in the euro... - Simon ...
20 June, 2012:
Greece still functions, despite crisis
ATHENS, GREECE: A conversation in struggling Greece is, often as not, about the superlatives of doom: The country is on the edge, the people are headed toward catastrophe, and the state, drained of cash and lasting political consensus, has effectively ceased to function. Yet in Athens, home...
19 June, 2012:
Greek government will be forced to seek third bail-out
Greece is expected to ask for a third international bail-out agreement as soon as a government is formed, ramping up the pressure on Germany and Brussels to back the eurozone or break it. While Antonis Samaras, leader of Greece's New Democracy party, scrambled to forge a coalition with...
19 June, 2012:
Greece, China and the middle-income trap
Everyone is in awe of China's economy. Its prodigious exports, heroic rates of investment and colossal foreign reserves are both deeply impressive and a little intimidating. China's economic policymakers are a competent, confident bunch. Even they, however, worry about the fabled "middl...
18 June, 2012:
Samaras seeks ‘national salvation’ coalition
Pro-memorandum New Democracy has won a relative majority in parliament, and the race is on to form a coalition government that can secure Greece’s place in the eurozone.   ND is expected to end up as first party, with a 2.4 percent lead over leftwing Syriza, according to an announc...
18 June, 2012:
Greece's New Democracy party aims to forge pro-bail-out coalition
  Political parties supporting Greece's international bail-out begin forging a government on Monday after an election victory over radical leftists staved off the prospect of the debt-laden country leaving the euro. Conservative New Democracy leader Antonis Samaras called for broad suppo...
18 June, 2012:
IMF, eurozone officials say some changes are possible
By Sotiris Nikas The new government to be formed in Athens will have to find out whether it has any leeway for renegotiation in its bailout agreement with the European Union and the International Monetary Fund -- and if so how much -- though there are signs that some changes will take place. ...
18 June, 2012:
ND wins but faces challenge to govern
Conservatives edge out SYRIZA but must find coalition partners with PASOK seemingly reluctant Greece’s second national elections in as many months produced a victory for conservative New Democracy over leftist SYRIZA but the result still left doubts about if and how a coalition government...
18 June, 2012:
'won't overstrain'
Germany 'won't overstrain' Greece but reforms set in stone Germany expects the next Greek government to stick to the terms of the bailout agreement which remain non-negotiable, officials said on Monday, while comments from the foreign minister about giving Athens more time for reforms were qui...
18 June, 2012:
Samaras to begin efforts to form coalition government
New Democracy leader Antonis Samaras is due to begin the process of trying to form a coalition government on Monday after his party won Sunday’s election...
18 June, 2012:
Greece faces years more pain - no matter the election results
CNN Anchor and Correspondent, Richard Quest Athens (CNN) - Whichever way the Greek people vote in these elections, there are no easy options for the country. It is almost certain no one party will get a majority – even with the top-up seats given to the front runner. We are facing days of...
18 June, 2012:
Nervous financial actors move from Greece to Spain
Relief that Greeks had given victory to pro-austerity conservatives was short-lived on Monday as traders fretted that Greece’s problems remained huge and that the real issue was Spain. In a quick turn-around, dealers in Europe swiftly ended a relief rally that began in Asia, taking lit...
18 June, 2012:
Greece votes to stay in Eurozone
By Elizabeth Puranam The Greek electorate appears to have voted in favour of remaining in the Eurozone - albeit narrowly. The conservative New Democracy party, which supports the tough austerity measures demanded in the bailout deal, won the most seats, and now has three days to form a coal...
15 June, 2012:
Tsipras slams bailout, vows to stay in euro
  The Syriza leader promised on Thursday to rip up the conditions attached to the bailout memorandum but keep Greece in the eurozone after Sunday's election, which he said were a referendum on the "memorandum or Syriza".   "The memorandum of bankruptcy will belong to t...
15 June, 2012:
Elections to cost €35m, 30% less than in May
Using faxes instead of telegrams to submit official results are among the costcutting measures introduced by the government for the June 17 election.    The state will spend 30 percent less on the repeat election, the caretaker interior minister told a meeting with the chairs o...
15 June, 2012:
UK's Osborne wants eurozone plan for Greek exit
The risks to Britain from a disorderly collapse of the euro zone are huge and Greece has to make up its mind over its membership of the zone, finance minister George Osborne said on Thursday. In comments likely to stir up resentment on the continent, where euro zone leaders are fed up with wh...
15 June, 2012:
Tsipras says only SYRIZA offers way out of crisis
Leftists leader warns voters against conservative, socialist rivals who signed debt deal In a rousing speech in central Omonia Square on Thursday night, leftist...
15 June, 2012:
Euro inches up versus dollar
By V. Phani Kumar, MarketWatch HONG KONG (MarketWatch) — The euro inched up a bit against the dollar and some other major currencies in Asia Friday after a report that central banks were preparing coordinated efforts to provide liquidity, if necessary, after the Greek elections. The com...
14 June, 2012:
France's Hollande Warns Greece on Euro Exit
French President Francois Hollande   French President Francois Hollande warned on Wednesday that some countries in Europe would want Greece to be forced out of the euro zone if it did not respect its engagement to international creditors after the June 17 election. In an interview wit...
14 June, 2012:
Greece ‘too big to fail’, says Massey economist
Greece ‘too big to fail’, says Massey economist A Massey University economist is predicting chaos if this weekend’s election result leads to Greece leaving the euro. Professor Christoph Schumacher says such an event would be a “more signicant financial disaster than the Le...
14 June, 2012:
Insight - Germany and Greece - a tale of estrangement
BERLIN (Reuters) - In early October of last year, German Economy Minister Philipp Roesler landed in Athens on a plane packed full of corporate executives, carrying a message of hope. Germany and its leading firms, the young minister told Greek leaders, stood ready to help Greece overcome the d...
14 June, 2012:
Germany and Greece thinking miles apart
In early October of last year, German Economy Minister Philipp Roesler landed in Athens on a plane packed full of corporate executives, carrying a message of hope. Germany and its leading firms, the young minister told Greek leaders, stood ready to help Greece overcome the debt crisis that had ...
14 June, 2012:
French bank draws up Greece contingency plans
By EUOBSERVER Credit Agricole bank has contingency plans to leave Greece should the country exit the eurozone, reports the Wall Street Journal. The French bank is the largest foreign-held bank in Greece. Experts say the withdrawal could cost the bank billions of euros and damage its ...
14 June, 2012:
Greece a bargain holiday destination
Financial woes could make Greece a bargain holiday destination Q: I am planning a backpacking trip round the Greek islands this summer and had hoped to supplement my holiday with some bar work. With the financial crisis in the country reaching epic proportions will this still be a good time...
14 June, 2012:
SYRIZA won't scrap memorandum, says Drasi's Manos
Stefanos Manos, the leader of the small liberal party Drasi, claims that leftist SYRIZA will not scrap Greece’s bailout if it comes to power because it is the only way it can guarantee salaries for its supporters in the civil service. “SYRIZA has taken over, mainly from PASOK, the...
14 June, 2012:
Moody's cuts Cyprus sovereign rating two notches to Ba3
Moody's Investors Service cut its credit ratings on Cyprus' sovereign debt by two notches on Wednesday, citing rising risks of a Greek exit from the euro currency and an already strained fiscal position. The speculative grade credit for the European Union member, which is third-smallest econo...
14 June, 2012:
Property tax evaders targeted
 Finance Ministry reports moderate increase in revenues in recent days By Prokopis Hatzinikolaou Tax authorities are going after the more than 500,000 property owners who refrained from paying the special tax tagged on to electricity bills last year, while official figures put revenues ...
14 June, 2012:
Samaras poised to cooperate
ND boss sees convergence with others after vote but differences with SYRIZA over investments remain   n one of the most conciliatory statements that New Democracy leader Antonis Samaras has made on the campaign trail, the conservative chief suggested Wednesday that there was enough common g...
13 June, 2012:
high-stakes poker game
Greece and the EU in a high-stakes poker game What once seemed unthinkable is now being discussed openly in Brussels. Greece could leave the eurozone following parliamentary elections on Sunday. All sides are playing a high-stakes game of poker. Those who want to discover what Eurogroup he...
13 June, 2012:
We Will Keep Greece in the Euro Zone: Leftists
Greek leftist party Syriza is committed to keeping Greece in the euro zone, its leader Alexis Tsipras said on Wednesday. Writing in the Financial Times newspaper, the 37-year-old president of the left wing coalition said it was not his party’s intention to take the country out of the curren...
13 June, 2012:
Greece 1 Czech Republic 2
Published on Wednesday 13 June 2012 08:28 Early goals from Petr Jiracek and Vaclav Pilar saw the Czech Republic revive their Euro 2012 campaign with victory over Group A rivals Greece in Wroclaw. The Czechs were 2-0 to the good inside just six minutes as midfielders Jiracek and Pilar made the m...
12 June, 2012:
Europe must offer Greece post-election prospects
By Zsolt Darvas * The euro might survive. But a cooperative Greek government, a real European program to support Greek economic growth ...
12 June, 2012:
Greece Can Heal Itself Inside EMU
Ex-Prime Minister Papademos:Greece Can Heal Itself Inside EMU FRANKFURT {MNI) – Former Greek Prime Minister Lukas Papademos believes Greece has a better chance of healing its economy from within the Eurozone than from the outside. In an op-ed in the German business daily Handelsblatt pub...
12 June, 2012:
Analysts: Greece risks blackouts over unpaid gas bills
By EUOBSERVER Greek daily Ekathimerini reports that energy firms are asking the government for an urgent €300 million law to pay for gas imports from Italy, Turkey and Russia. "Blackout is definitely a risk," Olivier Jakob, managing director of Zug, Switzerland-based e...
12 June, 2012:
Greece won't take Czechs lightly
Coach Fernando Santos insists he has paid no attention to the Czech Republic's heavy defeat to Russia during Greece's preparations for their Group A meeting in Wroclaw. The Czechs sit bottom of the group after being thoroughly outplayed by an impressive Russia side on Friday. Greece, meanwh...
12 June, 2012:
Hainan Airlines expands sales
Hainan Airlines expands sales representation to Greece and Cyprus with Discover the World Marketing Hainan Airlines, the exclusive Skytrax 5-star airline in mainland China, has added Greece and Cyprus to the countries where Discover the World Marketing handles its sales and marketing development...
12 June, 2012:
Greece seek better terms after Spanish rescue
Greece can seek a better deal from Europe for its own rescue after Spain won lenient bailout terms, the main parties said on Monday, a sign that however Greece votes this week it will be headed for a showdown with Brussels.    With days to go before the June 17 election which could ...
12 June, 2012:
Greek vote keeps markets guessing
No sooner has one eurozone crisis been apparently dealt with than another rears its head again. By Alex Spillius, in Athens Spanish banks may have secured a €100bn rescue deal, but Greeks will vote on Sunday in a re-run of last month's inconclusive election that could ...
12 June, 2012:
Gloves off for ND and SYRIZA in final strait
Officials of conservative New Democracy and leftist SYRIZA, which have been neck and neck in opinion polls, continued to clash Mondayy over which party can best negotiate Greece’s continued membership of the eurozone while SYRIZA leader Alexis Tsipras fired a broadside at ND leader Anton...
11 June, 2012:
A revolutionary program for Greece
This Sunday, June 17, general elections for a second time -- in less than two months -- will be held in Greece. The first one, held six weeks ago, has not been able to produce a coalition government capable of governing a country standing at the gate of abyss. Thi...
11 June, 2012:
No concessions for Greece: German central bank
  The president of Germany's central bank says Greece cannot expect its international creditors to make the country concessions on its program of reforms and austerity measures because that would set a dangerous precedent. Jens Weidmann told public broadcaster ARD on Sunday that whatever ...
11 June, 2012:
Santos wants Greece discipline
With two key players missing from Greece's next match at EURO 2012, coach Fernando Santos is demanding more discipline from his players. Central defender Avraam Papadopoulos flew home on Saturday with ligament damage in his left leg after being injured in Greece's 1-1 draw with Poland, while p...
11 June, 2012:
Samaras: Greece will never give up
Georgios Samaras is convinced that Greece have the bottle to make it through to the last eight of the European Championships. Forty-five minutes into their Group A opener against Poland the forecast looked bleak with the co-hosts one goal up and the Greeks down to ten men following the harsh se...
11 June, 2012:
resh thinking on business aviation in Greece
Financial turmoil in Greece continues to provide challenges for business aircraft operators in the country. Local charter broker Air Business International (ABI) has responded by stepping up its efforts to establish a Greek air taxi network. Air charter manager Marianna Margeti says: "Th...
11 June, 2012:
Patients in pain over Greek debt crisis
Greece's festering debt crisis is making it hard for Greeks to secure life-saving drugs and causing a headache for pharmacies and drug makers. By Rachel Cooper, in London, and Tania Georgoupli, in Athens 10:08PM BST 09 Jun 2012     Yianna and Tassos are anxious. L...
11 June, 2012:
Army concern about cutbacks
Due to defense cuts, the availability of equipment and spare parts at the Greek army’s disposal is “not satisfactory,” a source told Sunday’s Kathimerini. The source said that soldiers have had to “exhaust every type of ingenuity” by stripping old vehicles, ...
11 June, 2012:
Double standards of EU and IMF
Greece’s creditors imposed tax hikes while praising Latvia for focusing on spending cuts By Dimitris Kontogiannis High-level European Union and International Monetary Fund officials have called on Greece and other eurozone periphery countries facing a debt crisis to follow the example of...
11 June, 2012:
Fotakis adds to Greece's injury woes
LEGIONOWO — Already struggling with its absentees, Greece was hit by another setback on Sunday ahead of its Euro 2012 game against the Czech Republic when Giorgos Fotakis pulled out of training with a right thigh injury. Greece will already be missing two key defenders for Tuesday's matc...
11 June, 2012:
Greeks not satisfied with Poland draw
By George Georgakopoulos The Greek squad had mixed feelings about its opening game with Poland in the Euro 2012 that ended in a draw, with the realization that the national team could have won the game, but did redeem itself from a tough situation as formed at half-time. A major problem is the...
11 June, 2012:
Greece play role of party-poopers again
Greece played the familiar role of party-poopers by salvaging a point in a 1-1 draw with co-hosts Poland in their opening Group A match on Friday and nearly left with all three as they did eight years ago in Portugal.   A lively, attacking game finished with both sides reduced to 10 men ...
08 June, 2012:
Crunch Time for Poland, Greece
EURO 2012   Friday's Euro 2012 opener will have the feel of a final, with unheralded hosts Poland all too aware they must make their mark and Greece aiming to bring cheer to their crisis-ravaged homeland, reports AFP. "The first step is always the most important step, and the first...
08 June, 2012:
Crunch Time for Poland, Greece
EURO 2012   Friday's Euro 2012 opener will have the feel of a final, with unheralded hosts Poland all too aware they must make their mark and Greece aiming to bring cheer to their crisis-ravaged homeland, reports AFP. "The first step is always the most important step, and the first...
08 June, 2012:
Santos stays calm but proud
Drawing on a mix of old-timers, some of whom were part of the UEFA EURO 2004-winning vintage, Greece's Fernando Santos is in relaxed mood, says Vassiliki Papantonopoulou. Greece have three players from their UEFA EURO 2004-winning squad (Giorgos Karagounis, Kostas Katsouranis and Kostas Chalkia...
08 June, 2012:
Poland vs. Greece Key Players
Co-hosts Poland will open Euro 2012 by taking on 2004 winners Greece in Warsaw. As a host nation, the Poles will be expected to emerge from Group A, and a win over the Greeks would represent the perfect start. An aging and traditionally defensive-minded Greece team may not be fancied to make ...
08 June, 2012:
Georgios Samaras seeks win
Published on Friday 8 June 2012 00:00 Since taking over as Greece coach two years ago, Fernando Santos has made the team more attack-minded, typically fielding three strikers. The problem is they don’t score. At tonight’s Euro 2012 opening game against Poland in Warsaw, Santos will...
08 June, 2012:
Poland, Greece play for win
Poland is preparing to kick off Euro 2012 on home soil, with opponent Greece seeking a morale-boosting win to lift a beleaguered nation hit by political turmoil and crippling financial woes.   Both teams are due at the National Stadium in Warsaw for training, a day ahead of the curtain-r...
08 June, 2012:
Greeks look for Samaras inspiration
Greece will look for some Sammy magic when they open Euro 2012 against co-hosts Poland today. The form of Georgios Samaras is as frustrating to coach Fernando Santo as it is to the hoops support over the 26-year-old. Santo would love to see the Samaras that destroyed Rangers at Ibrox 18 months...
08 June, 2012:
Greece captain Giorgos Karagounis has warned his side they can afford no mistakes their Euro 2012 Group A opener against co-hosts Poland in Warsaw on Friday night. The Greeks opened their 2004 triumph by beating hosts Portugal, and they will be looking for a repeat at the National Stadium. The...
08 June, 2012:
Papademos says:
Euro exit would be 'catastrophic A Greek exit from the euro zone would be «catastrophic» for the country, former prime minister Lucas Papademos said on Thursday, urging the Greek people to «stay the course» of painful economic reforms. "The overall economic conseq...
08 June, 2012:
Party get started
Published on Friday 8 June 2012 09:37 We have teamed up with Charlie McCann of BetVictor to look ahead to Euro 2012: We have pushed England out to 14/1 for Euro 2012 ahead of this evening’s opener in Warsaw between co-hosts Poland and Greece; the latter’s qualification was built arou...
08 June, 2012:
In Rehhagel´s footsteps
Santos aims to follow in Rehhagel´s footsteps 8 juni 2012 Greece coach Fernando Santos has dismissed suggestions his team are too defensive to be successful at Euro 2012. The 2004 European Championship winners conceded just five goals in 10 qualifying matches, and their road to victory ...
08 June, 2012:
The Impact of the Greek Debt Crisis
Greece faces its greatest crisis since the Age of Pericles 2,500 years ago, and the European Union, the most-successful regional integration in history, faces a major crossroad over the prospect of Greece withdrawing from the eurozone. It is a historical paradox that the cradle of democracy h...
08 June, 2012:
Euro 2012: Poland v Greece
Venue: National Stadium, Warsaw Date: Friday, 8 June Kick-off: 17:00 BST Coverage: Live on BBC One, BBC One HD and BBC Radio 5 live; Live text commentary on BBC Sport website; highlights on BBC One and BBC Sport website TEAM NEWS Poland defender Damien Perquis remai...
08 June, 2012:
Euro 2012
COMMENT By Michael Paterakis | Greece Expert The current incarnation boasts some hot prospects capable of catching the eye, and shares many common traits with the triumphant squad at Euro 2004, but has zero chance of repeating the miracle of Portugal. This is the short-version answer to the ...
08 June, 2012:
Euro 2012 Kicks off
Angela Asante, June 8 2012, 0 Comments At long last, June 8 has come. At 12:00pm EST (4:00pm GMT), Poland vs Greece will take place. The first UEFA Euro 2012 day will close with Czech Republic vs Russia at 2:45pm EST (6:45 GMT). Poland vs Greece It is a tricky fixture for Poland although they...
08 June, 2012:
Poland v Greece – Match Preview
Captain Jakub Blaszczykowski admits it’s a dream come true for him and his Poland teammates as the co-hosts prepare to kick-off Euro 2012 against Greece in Warsaw on Friday. Franciszek Smuda men are gearing up to tackle 2004 champions Greece in the opening Group A fixture of the tournament a...
08 June, 2012:
Schengen proposals add pressure on Greece
In a decision that is likely to add pressure on Greece, European interior ministers have moved to give states that are part of the Continent's passport-free travel zone more leeway to reinstate border controls. During a meeting in Luxembourg Thursday, ministers agreed on new rules that would ...
08 June, 2012:
Greece out to bring some cheer
Greece are aiming to give their hard-pressed compatriots back home a rare moment of cheer this evening when they take on co-hosts Poland in the opening match of Euro 2012. The Greeks have as a national squad been left largely untouched by the enormous financial hardships experienced by their...
08 June, 2012:
Greece Euro 2012 Squad and Preview
By Soccerlens on June 8th, 2012 Greece have been relatively stable in European football in the last decade, and while they’re not expected to repeat their performances of 2004 they will harbour legitimate aims of progressing out of Group A. One surprise name included in their Euro 2012 ...
08 June, 2012:
Golden Dawn spokesman still eludes the police
Ilias Kasidiaris, the spokesman of Greece's far-right Golden Dawn party, was still on the loose on Friday despite police efforts to track him down. The 31-year-old former MP on Thursday slapped one female leftist politician in the face and threw a glass of water at another during a live telev...
08 June, 2012:
National team wants to spread joy amid crisis
  WARSAW - Greece is determined to lift the mood back home during Euro 2012 with the country's huge debt woes causing worry and fear, striker Giorgos Samaras said on Wednesday. "I don't like to say big words or throw promises around,» he told a news conference. «We are all...
08 June, 2012:
Car sales grinding to a halt
New cars on Greek roads posted a dramatic 46.9 percent decline in May on a yearly basis, as few are willing to buy a new vehicle in the midst of the crisis. Hellenic Statistical Authority (ELSTAT) data show that 6,826 cars came into circulation in Greece last month, including 1,288 used vehic...
08 June, 2012:
Tsipras rejects civil service sackings
Leftist SYRIZA leader Alexis Tsipras said on Thursday that his party would not fire any civil servants if it comes to power and would conduct its own evaluation of public sector employees, ending the cooperation that Greece has embarked on with the European Commission’s Task Force. Tsipr...
07 June, 2012:
Greece reacts to Turkish remarks
  Athens Wednesday responded to disparaging comments by Turkey’s prime minister about Greece’s economic melee, urging its Aegean neighbor to mind its own business. “Greece would expect from its neighbors to respect its problems rather than make noise,” government sp...
07 June, 2012:
Samaras eyes savings from waste rather than cuts
New Democracy leader Antonis Samaras has proposed not making any more cuts in order to meet the fiscal targets set by the eurozone and the International Monetary Fund but to make the savings by tackling waste and corruption in the public sector. The conservative chief said that 11.7 billion e...
07 June, 2012:
I was anti-memorandum architect, says Samaras
New Democracy (ND) party leader Antonis Samaras, speaking on the internet programme "e-nikos" of  journalist Nikos Hatzinikolaou, in which he also replied to questions put to him by citizens, stressed on Wednesday night:   "I did not sign the continuation of the memor...
07 June, 2012:
Golden Dawn spokesman attacks two MPs on live TV
  A Golden Dawn MP attacked and slapped a Communist Party MP live on television on Thursday morning, moments after throwing a glass of water at a Syriza MP.   In shocking and unprecedented scenes, Ilias Kasidiaris slapped Communist MP Liana Kanelli three times in the face during a li...
06 June, 2012:
Canadian PM: euro can't hang on Greek polls
The euro zone must come up with a broad plan, and not just lurch from crisis to crisis, as the global economy is running out of time to right itself, Canadian Prime Minister Stephen Harper said on Tuesday. "I do think in a sense, here, I don't want to sound too alarmist, but we are kind ...
06 June, 2012:
Disastrous April eliminates surplus
 Primary figures post deficit that saw gains of year to March evaporate By Sotiris Nikas The primary result of the general governme...
06 June, 2012:
Supermarket prices go back to 2010
A survey by the Institute of Retail Consumer Goods (IELKA), whose membership is made up of the country’s major supermarket chains, showed that products sold in March and April 2012 have seen their prices drop to levels last seen in May 2010. Despite consecutive rises in value-added tax ...
06 June, 2012:
New Democracy and SYRIZA clash over leaders' TV debate
The two parties vying for first place in the June 17 election, New Democracy and PASOK, were at loggerheads on Tuesday after negotiations to hold a televised debate between their respective leaders, Antonis Samaras and Alexis Tsipras, collapsed amid acrimony. ND claimed it had agreed with SYR...
06 June, 2012:
German banks ready for all Greek options
German banks have limited exposure to Greece and should be able to handle any outcome in the southern European country, German financial watchdog Bafin said on Tuesday.   "I won't join speculation about Greece's future financial policy but I am certain that Germany's banks are now p...
05 June, 2012:
Leaders of China, Greece mark anniversary of diplomatic ties
BEIJING, June 5 (Xinhua) -- Chinese President Hu Jintao on Tuesday exchanged congratulatory messages with his Greek counterpart Karolos Papoulias to celebrate the 40th anniversary of the establishment of Sino-Greek diplomatic ties. In his message, Hu said, China and Greece have witnessed the...
05 June, 2012:
Royal Dutch Shell CEO Voser:
Greece Likely to Stay in EU, Euro Royal Dutch Shell PLC (RDSA) Chief Executive Peter Voser Tuesday said he believed Greece will stay in the European Union and in the euro, and that the common currency will stay intact despite the euro zone's sovereign debt problems and economic downturn. ...
05 June, 2012:
Ionian quake measures 4.2 Richter
An earthquake measuring 4.2 on the Richter scale shook the southern Ionian island of Zakynthos in the early hours of Tuesday, with no reports of injuries or damage to building being made. According to the European Mediterranean Seismological Center, the epicenter of the quake was 64 kilometer...
05 June, 2012:
World's largest shipping fair opens in Athens
Posidonia, the world’s largest shipping fair opened in Athens on Monday, amid growing concerns about the global economy and worries about the host country’s uncertain future. The five-day event, now in its fifth decade, includes 1,870 exhibitors from 87 countries, a new record, an...
05 June, 2012:
Posidonia 2012 opens its gates
Caretaker prime minister Panagiotis Pikrammenos will address a greeting at 18:00 on Monday at the opening ceremony of the international shipping exhibition Posidonia 2012, at the Metropolitan Expo center at Athens' 'Eleftherios Venizelos' International Airport (AIA) in Spata.   After the...
04 June, 2012:
Greece-proofing China
by Yu Yongding Article published on 04 June 2012 Despite repeated assurances by European Union leaders, after more than two years, there is still no light at the end of Europe’s debt-crisis tunnel. Recently, the president of the European Commission, Jos...
04 June, 2012:
Structural funds
Commission approves major EU co-funded priority project in Greece The European Commission has approved the allocation of €180.9 million to build a major trunk road to connect the Aktio area with the Western North-South Axis in Greece. This is part of the priority projects presented by th...
04 June, 2012:
Cosmos continues its monthly guide to Greece
Millions of holidaymakers from across the world head to Greece every year to enjoy its Mediterranean climate, golden beaches and rich cultural heritage. But tourism in Greece has, in fact, been booming since ancient times, beginning with the Roman invasion. The Roman Empire became heavily influe...
04 June, 2012:
Interview: SYRIZA chief Alexis Tsipras
01 June, 2012:
World Bank warns
World Bank's Zoellick warns Europeans to prepare for Greek contagion European leaders must be ready to recapitalize banks in the event of a Greek exit from the euro zone currency bloc and assure funding for Spain to prevent an economic collapse, World Bank President Robert Zoellick said on Fri...
01 June, 2012:
Hotlines set up to help cancer sufferers find medecines
Pharmacists in Athens have set up two hotlines for cancer sufferers to call if they are having difficulties finding the drugs they need for their therapy. Serious shortages of anti-cancer drugs have been reported as a result of public spending cuts and the reluctance of pharmacists to stock t...
01 June, 2012:
Presenter Jeremy Paxman is condemned
BBC Newsnight presenter Jeremy Paxman is condemned over 'offensive' Greece kebab remarks BBC Newsnight guests complain after Jeremy Paxman makes crass comments about the Greek economy. If the rumours were true that Jeremy Paxman was hoping to succeed Mark Thompson as the director-gen...
01 June, 2012:
Going into final stretch, SYRIZA builds poll lead
In the last opinion poll to be published by Kathimerini before the June 17 elections, leftist SYRIZA maintains a clear lead over New Democracy, although short of enough support for a clear parliamentary majority. According to the Public Issue survey, SYRIZA garners 31.5 percent of the vote, 1...
31 May, 2012:
Most Aid to Athens Circles Back to Europe
By LIZ ALDERMAN and JACK EWING Published: May 29, 2012 PARIS — Its membership in the euro currency union hanging in the balance, Greece continues to receive billions of euros in emergency assistance from a so-called troika of lenders overseeing its bailout. But almost none...
31 May, 2012:
Greece's Drink Ouzo Affected by Economic Crisis
31 May, 2012:
European leaders confer with Obama before summit
German Chancellor Angela Merkel, freshly-elected French President Francois Hollande and Italian Prime Minister Mario Monti held a video conference with President Barack Obama on Wednesday, ahead of a G-20 economic summit in Mexico next month. The discussion followed up on talks recently held ...
31 May, 2012:
Open-air cinemas: Blockbusters alfresco
By Panayiotis Panagopoulos A rarity on the global map of movie theaters, open-air cinemas are still very popular in Greece, even though they are not always up to speed in terms of state-of-the-art sound technology. What they do offer, however, is a pretty special experience, prompting CNN In...
31 May, 2012:
Election game-changer sought
 SYRIZA prepares to unveil economic program as polls show leftists neck and neck with New Democracy Opinion polls Wednesday showed New Democracy and SYRIZA...
30 May, 2012:
French leader wants Greece to choose Europe
PARIS: French President Francois Hollande said Tuesday that he wanted Greek voters to "choose Europe" in upcoming polls and branded remarks by the IMF chief that Greeks dodged taxes as disrespectful. "The Greeks must face their responsibilities -- be aware that what you deci...
30 May, 2012:
De La Rue silent on deal to print Drachma
De La Rue, the money printer, failed to dampen speculation that it has been secretly awarded a contract to start printing drachmas the moment Greece is forced out of the euro. The company said that its order book had increased by 14pc, to £248m, but its policy was to never reve...
30 May, 2012:
Greek energy runs out of steam
By Chryssa Liaggou The energy market’s liquidity problems are going from bad to worse and waiting for the national election to take place next month is no longer feasible, according to a letter sent to the competent ministries by the chairman and chief executive of Public Gas Corporation...
30 May, 2012:
EC to push for debt deal implementation
The European Commission is expected on Wednesday to press Greece to fully implement the terms of its debt deal with foreign creditors during a presentation of proposals for individual member states of the European Union. Meanwhile EC sources have confirmed that the next tranche of funding due...
30 May, 2012:
NBG report warns of euro exit chaos
It says reverting to the drachma would see per capita income fall 55 pct A National Bank of Greece report painted on Tuesday a dramatic picture of the country ...
29 May, 2012:
Greece: The Unvarnished Truth
A series of weekend polls in Greece showed some movement in the electorate and put the New Democracy ahead of Syrzia. This is important because which ever party comes in first gets an extra 50 seats in the 300-seat chamber. The polls suggest the New Democracy and PASOK could retain the reins of ...
29 May, 2012:
Mini-summit to discuss euro after June 17 polls?
The outcome of the Greek elections and ways to deal with the eurozone crisis are expected to top the agenda of a meeting of the heads of state of France, Germany, Spain and Italy in Rome, that may take place after the June 17 polls, a report by Euractiv suggested on Tuesday morning, citing Ita...
29 May, 2012:
Parties slam Lagarde over tax evasion comments
Greece’s political leaders rounded on International Monetary Fund managing director Christine Lagarde on Sunday following comments in an interview where she expressed more sympathy for children in Niger than those in Greece who were suffering from the crisis and suggested that Greeks wer...
29 May, 2012:
Greek banks get 18 bln euros in recapitalization funds
Greece handed 18 billion euros to its four biggest banks on Monday, the finance ministry said, allowing the stricken lenders to regain access to European Central Bank funding. The long-awaited injection - via bonds from the European Financial Stability Facility rescue fund - will boost the ne...
27 May, 2012:
IMF's Lagarde expresses sympathy for Greeks after tax evasion comments
International Monetary Fund managing director Christine Lagarde has issued a statement clarifying comments with regards to Greeks not paying taxes after her Fa...
27 May, 2012:
Tsipras against eurozone austerity climate
Coalition of the Radical Left (Syriza) party leader Alexis Tsipras stressed in an interview published by the German magazine Der Spiegel on Saturday that his party intended to everything in its power to keep Greece in the euro.   He repeated Syriza's position that the destruction of Greece'...
27 May, 2012:
New Democracy in poll lead as Europe watches on
New Democracy have regained an opinion poll lead that would allow the formation of a pro-bailout government committed to keeping the country in the euro zone, a batch of new surveys showed on Saturday.   Polls up to Saturday had showed pro- and anti-bailout parties running neck-and-neck ...
27 May, 2012:
Monti says Greece will probably keep euro
Greece will probably remain in the eurozone, Italian Prime Minister Mario Monti said on Thursday, but demands made of the country by its partners had been unrealistic and far reaching economic reform could take decades to achieve.   "Anything can happen, but I think the most probabl...
27 May, 2012:
Tourism income down 15%; fewer tourists
Fewer German, British and Russian tourists visited the country in the first quarter, contributing to a 15.1 percent drop in tourism receipts compared to the same period a year earlier, the central bank said on Friday.   The drop dampens hopes for a strong tourism season this year to help...
25 May, 2012:
Greece could tip the euro balance
A breakup of the eurozone is in members' minds as nation struggles in its fifth year of recession ATHENS, Greece -- European leaders insist they want to keep Greece in the eurozone but are putting off any agreement on how they hope to accomplish that. Greece says it, too, wants to sta...
25 May, 2012:
New poll shows SYRIZA and ND fighting it out
A new opinion poll carried out for Kathimerini and Skai by Public Issue reinforces predictions that repeat elections on June 17 will be a clash between the leftist SYRIZA, which is riding an anti-austerity wave, and conservative New Democracy, which appears to be making a comeback after joinin...
25 May, 2012:
State to get hands on HFSF funds
Accounting Office report warns revenues may miss target by 1.35 billion euros The Finance Ministry is considering using the funds that the Hellenic Financial Stability Facility (HFSF) has at its disposal to secure some desperately needed cash for the state for as long as possible. The HFSF po...
25 May, 2012:
Greek-owned merchant fleet remains dominant
Greek shipping retained its position as world leader in 2011, as it controlled 14.83 percent of the global capacity in deadweight tonnage despite the problems caused by the international crisis and reduced funding from banks, according to a report issued on Thursday by the Union of Greek Shipo...
24 May, 2012:
Exit would cause 'irrevocable damage'
Nick Clegg: Greece's exit from the euro would cause 'irrevocable damage' A Greek withdrawal from the euro would cause "unpredictable, irrevocable damage" to the single currency that "no rational person" should advocate, Nick Clegg will warn today. In a speech in B...
24 May, 2012:
Revealing video Pt 2
In the second part of this revelatory documentary Christine Lagarde is among those delving into Greece’s economic downfall   ...
24 May, 2012:
A search of the Athens office of former Defense Minister Akis Tsochatzopoulos, who has been in custody since mid-April pending trial for money laundering, has turned up a range of evidence linking him to offshore firms that he claims to have no involvemen
European Union leaders, advised by senior officials to prepare contingency plans in case Greece decides to quit the single currency, urged the country to stay the course on austerity and complete the reforms demanded under its bailout programme. After nearly six hours of talks held during an info...
24 May, 2012:
Net closes in on ex-minister
A search of the Athens office of former Defense Minister Akis Tsochatzopoulos, who has been in custody since mid-April pending trial for money laundering, has turned up a range of evidence linking him to offshore firms that he claims to have no involvement with but which have been connected to...
24 May, 2012:
Eurobank deny Syriza allegations
Eurobank, in a statement on Wednesday evening, categorically denied claims aired earlier in the day by the Radical Left Coalition (Syriza), which cited "warnings" by the bank's management over a possible Syriza victory in the June 17 election.   According to the allegations made ...
24 May, 2012:
Hollande and Rajoy stand by Greece
French President Francois Hollande and Spanish Prime Minister Mariano Rajoy clearly signalled their determination to keep Greece in the euro on Wednesday, in statements following their meeting in Paris to prepare for the EU summit in Brussels.   "I will do whatever I can from my pos...
24 May, 2012:
Debt crisis: Germany holds a gun to Greece's head
Pressure on Greece increased dramatically on Wednesday night after Germany's central bank called for a suspension of financial support to Athens and eurozone finance ministries agreed to draft contingency plans for a Greek exit from the euro. In a blunt warning to Athens, the Bundesb...
23 May, 2012:
Revealing video
  Goldman Sachs and the downfall of Greece\ The first part of an explosive PBS documentary looking at the role Goldman Sachs may have played in the great Greek debt tragedy. Five minutes you won’t regret watching.     ...
23 May, 2012:
Revenues fall but deficit is on target
OECD expects recession to come to 5.3 pct this year and to 1.3 pct in 2013 The budget deficit has risen from last year and revenues are trailing this year’s target, official figures show, while a report presented on Tuesday in Paris by the Organization for Economic Cooperation and Develo...
23 May, 2012:
Papademos clarifies comments on euro exit scenarios
Former Prime Minister Lucas Papademos has sought to clarify comments in which he appeared to suggest that some countries and institutions were preparing contingency plans for a Greek exit from the euro. In his first interview since leaving office this month, Papademos told the Wall Street Jou...
23 May, 2012:
Tsipras open to talks with Europeans
Leftist leader Alexis Tsipras told an audience in Berlin on Tuesday that his SYRIZA party has no intention of taking Greece out of the euro and would be prepared to negotiate with the eurozone if it is in government following the June 17 elections. Tsipras was in Berlin 24 hours after talks w...
23 May, 2012:
Leaders seek to cultivate EU ties
Samaras, Venizelos head to Brussels to seek talks with Europe’s movers and shakers The leader of conservative New Democracy, Antonis Samaras, is expected to seek out European leaders for pivotal talks in Brussels on Wednesday in a bid to outdo Socialist PASOK leader Evangelos Venizelos, wh...
23 May, 2012:
ECB vice-president does not expect Greece euro exit
European Central Bank vice-president Vitor Constancio said on Tuesday he does not expect Greece would exit the euro and urged Athens to work with Europe to remove the risk of its crisis spreading to other countries.   "I don't think the worst is going to happen in Europe. I don't a...
21 May, 2012:
Official Confirms
That EC and ECB Are Drawing Up Plans For Greece’s Eurozone Exit, Yet GBP EUR Rate Drops The ongoing crisis in the debt-stricken eurozone is increasingly resembling the final throes of the Roman empire, as the edifice of ‘political union’ crumbles in a wash of subterfuge and ru...
21 May, 2012:
Drasi and Re-Create Greece to join forces
The parties of Drasi and Re-Create Greece are to join forces for the upcoming elections of June 17, a decision announced by Drasi leader Stefanos Manos on social networking site Twitter late on Sunday.   This was confirmed through the same medium by Re-Create Greece a few minutes after, w...
21 May, 2012:
Tsipras brings message to Europe: 'Let's talk'
Radical Left Coalition (Syriza) Alexis Tsipras begins a tour of European capitals on Monday carrying a single message: it's time to talk.   In an interview on the eve of his first visit abroad since his surprise rise in the May 6 election, Tsipras veered occasionally into the combative ...
21 May, 2012:
Parties forge alliances ahead of June vote
Drasi and Dimiourgia Xana (Recreate Greece) have announced they will join forces ahead of the June 17 elections. The decision, which was...
21 May, 2012:
G8 leaders back Greece
 World’s most powerful say they want country in euro as Germany holds firm line World leaders convening in the US presidential retreat in Maryland for the G8 summit of the world’s leading industrialized nations expressed conviction over the weekend that action must be taken t...
18 May, 2012:
Merkel Proposes Greece HoldReferendum on Eurozone Membership
ATHENS, May 18 (RIA Novosti) German Chancellor Angela Merkel on Friday suggested in a telephone conversation to Greek President Karolos Papoulias to hold a referendum on the country's membership in the Eurozone during parliamentary elections on June 17, Greek government spokesman Dimitris Tsi...
18 May, 2012:
Greeks making a new start in Cyprus
As Cypriot economy starts to slow, attitude toward kindred economic migrants could change By Ioanna Fotiadi On almost any flight to Nico...
18 May, 2012:
Fitch downgrades Greece credit rating deeper into junk territory
PanARMENIAN.Net - An influential financial ratings agency has downgraded debt-crippled Greece deeper into junk territory, Belfast Telegraph reported. Fitch warned of a "probable" Greek exit from the euro currency union if new national elections next month produce an anti-bailout go...
18 May, 2012:
On Greece's future, tourism, Re-think Athens, eurozone exit
Greek MP warns against euro exit I am sick and tired of the euro zone stuff. There are problems everywhere. People are suffering everywhere and all that is happening is politians blabbering and blabbering. Greece should get out of the euro and get back to being Greece. Stop the torture. ...
18 May, 2012:
Greek winemakers see crisis as glass half-full
By Leslie Gevirtz Greek winemakers are not pricing their wares in drachmas -- yet. The winemakers, visiting New York as part of an international promotional tour, doubted Athens would leave the euro-zone even after Fitch Ratings Agency downgraded Greece's sovereign debt on Thursday, calling t...
18 May, 2012:
Euro touches 4-month low
The euro sank to a four-month low against the dollar, heading for its biggest weekly drop since January, after Moody’s Investors Service downgraded 16 Spanish banks, underscoring concern that Europe’s turmoil is worsening. The 17-nation currency declined to the weakest in three mo...
18 May, 2012:
EU, ECB said to be working on Greece exit contingency [update]
18 May, 2012:
Commission denies working on exit plan for Greece
The European Commission denied reports on Friday that it has been working on an exit plan for Greece “We completely deny that we are working on any such emergency plans» a spokesperson told Market News International. “We are concentrating all our efforts on supporting Greece a...
18 May, 2012:
Judge to lead Greece to critical eurozone vote
A senior judge was put in charge of an emergency government on Wednesday to lead Greece to new elections on June 17 and bankers sought to calm public fears after the president said political chaos risked causing panic and a run on deposits.   European leaders who once denied vociferously...
18 May, 2012:
German bank body suggests Greece exit euro
Greece may be better off tackling its debt and structural problems outside the euro zone, the head of Germany's BdB banking association said on Wednesday, the first time a major representative of Germany's financial sector has publicly suggested Greece should exit the euro.   "More ...
18 May, 2012:
Germany chides Austrian minister's Greek comment
An Austrian newspaper has reported that German Chancellor Angela Merkel's staff has complained to Austria about Finance Minister Maria Fekter's suggestion this week that Greece could be thrown out of the EU as a result of its economic crisis, a newspaper reported on Wednesday.   The Oest...
18 May, 2012:
Similarities may push Merkel, Hollande together
Five years ago, Nicolas Sarkozy flew straight to Berlin after his inauguration and shocked his hosts with some blunt talk on planemaker Airbus, one of the most sensitive of Franco-German issues.   That first visit set the tone for the months that followed. German officials looked on in h...
16 May, 2012:
IMF: Exit from euro could be orderly
European governments make plans for the effects of a possible return to the drachma Following the collapse of talks between the country’s political leaders on Tuesday and the decision for a fresh election to take place next month, the world appears to be warming to the idea of a Greek eu...
16 May, 2012:
Ex-Thessaloniki mayor to stand trial for embezzlement
Former Thessaloniki Mayor Vassilis Papageorgopoulos and 17 other people are to stand trial for allegedly embezzling almost 52 million euro from the municpality’s coffers. The suspects include department directors, deputy mayors and a former general secretary. So far, one municipal emplo...
16 May, 2012:
Asia: Investors exit on heightened Greece uncertainty
Wed 16 May 2012 LONDON (SHARECAST) - Asian stock markets nose-dived on Wednesday as investors took fright at the increasing political uncertainty in Greece and rising speculation it could exit the single currency. The benchmark Nikkei 225 index closed down 99 points at 8,801 in Tokyo whil...
16 May, 2012:
World stocks fall amid political turmoil in Greece
  BANGKOK—World stocks dived Wednesday after a failure by Greece's political leaders to form a coalition government set the stage for new elections next month, keeping Europe's debt crisis center stage. The turmoil in Greece sent European shares lower in early trading. Britain's F...
16 May, 2012:
What Happens When Greece's Money Runs Out?
Speculation about an endgame in Greece's protracted crisis has flooded markets with euro exit scenarios this week, but investors reckon there's still every chance that uncertainty will simply drag on for months. Seeking clear-cut outcomes to the euro saga to date has proven fruitless for invest...
16 May, 2012:
Greece attempts to form caretaker government until new election
Greece's political leaders are to meet to form a caretaker government to steer the country to a second election in just over a month, with its euro membership at stake and its president speaking of "fear that could develop into panic". President Karolos Papoulias was forced...
16 May, 2012:
ECB cutting back on liquidity for Greek banks, report says
The European Central Bank is increasingly refusing requests for liquidity from Greek banks, making them dependent on support from the Greek central bank, Dutch financial daily Het Financieele Dagblad reports Wednesday, citing «sources in Brussels», according to Dow Jones Newswires....
16 May, 2012:
Italian minister says euro can survive without Greece
Italian Industry Minister Corrado Passera said on Wednesday that the euro could continue to survive even if Greece were to leave the union's single currency. "That the euro can continue to exist without Greece is a foregone conclusion,» said Passera, speaking on a morning televisio...
16 May, 2012:
Schaeuble rules out renegoiation of Greek bailout
German Finance Minister Wolfgang Schaeuble stressed on Wednesday that it was not possible to re-negotiate an international aid plan for Greece. "This is an aid programme that was prepared down to the last detail, we cannot re-negotiate it,» Schaeuble told Deutschlandfunk radio afte...
16 May, 2012:
US vulture fund profits from bond payout
ost of the money Greece used to pay in full a 436-million-euro foreign law bond on Tuesday went to a vulture fund, the New York Times has reported. “Almost 90 percent was delivered to the coffers of Dart Management, a secretive investment fund based in the Cayman Islands, according to peo...
16 May, 2012:
Chrysi Avgi chief to boycott party leaders' meeting
The leader of the neofascist Chrysi Avgi (Golden Dawn) Nikos Michaloliakos has refused to attend today’s party leaders’ meeting with President Karolos Papoulias to decide on the formation of caretaker government. Michaloliakos said he would be boycotting the meeting because his pa...
16 May, 2012:
Caretaker government to be appointed in Greece
© Reuters Greek President Karolos Papoulias is to set up an interim government ahead of fresh elections next month. He will appoint a senior judge to act as caretaker of the nation after a final round of talks between the main parties on Tuesday failed to form a coalition. The failure ha...
15 May, 2012:
Greek Leftists rule out technocratic government as leaders meet again
Greece's president will ask party leaders to stand aside and let a government of technocrats steer the nation away from bankruptcy, but Leftists have already rejected the proposal and look set to force a new election they are forecast to win. Party leaders, deadlocked since a parliamen...
15 May, 2012:
Juncker slams 'propaganda' of Greek euro exit
The head of the Eurogroup, Jean-Claude Juncker, has dismissed speculation about an imminent Greek euro exit as propaganda after eurozone finance ministers met in Brussels on Monday. ON ANY POSSIBLE CHANGES TO GREEK BAILOUT PROGRAMME: "If there were to be dramatic changes in the circumsta...
15 May, 2012:
Ex-PM Simitis says euro exit would be a 'catastrophe'
Greece must be part of the euro area and it would be a “catastrophe” for the nation to revert to using its own currency, former Greek Prime Minister Costas Simitis said. “There’s no question we must belong to the eurozone,” Simitis said at a forum in Beijing on Tu...
15 May, 2012:
Kammenos denies sending document to president
Panos Kammenos, the head of the Independent Greeks party -- which came fourth in the May 6 polls -- denied on Tuesday that he had sent a proposal to the Greek president on Monday outlining his position on the formation of a unity government, though he did not overrule that it may have been sen...
14 May, 2012:
New elections likely as Greece's Alexis Tsipras rejects invitation for final round of coalition talks
Greece's radical leftist leader Alexis Tsipras has rejected an invitation from the president for a final round of coalition talks today. The move all but ensures a new election that his Syriza party is poised to win. Greece's political landscape has been in disarray for a week since an inconc...
14 May, 2012:
Euro finance ministers to tell Greece to respect loan deal
Euro zone finance ministers return to action today with Greek political chaos and major doubts over Spanish banking health topping the agenda. Ministers from the 17 currency partners making up the Eurogroup will meet in Brussels later this afternoon. They are aiming mainly to send a strong mess...
14 May, 2012:
Breakdown Of Greek Coalition Talks Push Greece To Euro Exit
As hopes dim that Greece will abide by the austerity package, there is increasing acceptance that Greece may leave the euro. By Amiel Ungar With the collapse of coalition talks to form a Greek government, we have been plunged headlong into a game of chicken between Greece and the EU. Not only ...
14 May, 2012:
Greece reaches edge of abyss as leaders predict failure of government talks
No Greek unity government can be formed, the head of a small moderate leftist party seen as the last hope for a coalition said Monday ahead of cabinet talks under President Carolos Papoulias. "No unity government can emerge," Fotis Kouvelis, head of the Democratic Left party, told ...
14 May, 2012:
Euro officials begin to weigh Greek exit
Greece’s possible exit from the euro area moved to the center of Europe’s debt-crisis debate, with officials beginning to weigh the fallout of a withdrawal even as authorities in Athens struggled to form a government. Meetings brokered by Greek President Karolos Papoulias are set ...
14 May, 2012:
Poll sees SYRIZA gaining from possible second round
Greeks believe that the Coalition of the Radical Left (SYRIZA) would make the most gains if Greece holds new elections next month, when 19 percent of voters intend to cast their ballot for different parties from those they backed on May 6, according to a new opinion poll. The survey conducted...
14 May, 2012:
Ferry companies warn of route stops in fall
By Nikos Bardounias Ferry operators are sounding a warning bell that falling passenger flows and rising fuel costs may force them to suspend services to many of Greece’s islands come September. Industry officials note that the cost of fuel has risen by 56.8 percent and 63 percent for c...
14 May, 2012:
Fresh bid to form unity government
Greece's president has invited the leaders of the country's three biggest parties plus a smaller, moderate leftist group to take part in talks to form a coalition government on Monday, reports said late Sunday Karolos Papoulias has invited the leaders of New Democracy, PASOK, SYRIZA and Democ...
14 May, 2012:
Elections loom as key bailout opponent defies unity
Greece’s political deadlock looked set to continue for a second week as President Karolos Papoulias failed to secure agreement on a unity government and avert new elections with the country heading toward a possible exit from the euro area. Greece’s biggest anti-bailout party, SYR...
14 May, 2012:
Schaeuble open to growth measures
Germany is ready to consider additional measures to promote growth in Greece but agreed reforms must be carried out, German Finance Minister Wolfgang Schaeuble said in an interview with the Welt am Sonntag weekly on Saturday.   "If the Greeks have an idea of what we could do, in addi...
11 May, 2012:
Venizelos eyes unity deal after agreement with Democratic Left
PASOK leader Evangelos Venizelos will hold talks on Friday with his counterparts at New Democracy and the Coalition of the Radical Left (SYRIZA) with the aim of agreeing on a framework for a unity government after Democratic Left leader Fotis Kouvelis on Thursday backed the formation of an ecu...
11 May, 2012:
'Greece's fate is in its own hands,' German foreign minister says
German Foreign Minister Guido Westerwelle on Friday warned Greece that continued international aid depends on the implementation of economic reforms. “We stand by our commitments... but Greece's fate is in its own hands,” Dow Jones quoted him as telling the German parliament. Weste...
11 May, 2012:
Schaeuble: Greek exit wouldn't bring down Europ
The euro area could handle Greece’s exit from the currency union because the risk of contagion has waned, German Finance Minister Wolfgang Schaeuble was quoted as saying in comments to the Rheinische Post newspaper. “We have learned a lot in the last two years and built in protect...
11 May, 2012:
Bunds jump on Greek fears, JPMorgan loss
German Bund futures pushed higher on Friday as Greece's political deadlock and JPMorgan's revelation of a huge trading loss hit equity markets, spurring demand for low-risk investments. Peripheral euro zone government bonds were set to remain under pressure given the negative sentiment in ris...
11 May, 2012:
No more bets for Greek euro exit
Want a flutter on Greece leaving the euro zone? It may already be too late. A surge in bets has forced Britain's biggest bookmakers William Hill Plc and Ladbrokes Plc to suspend betting on the odds of Greece dropping out.   The failure of Greece's leaders to form a government has renewed...
11 May, 2012:
Whose votes are they anyway? The Golden Dawn conundrum
Almost all Greeks are angry at the country's desperate economic plight these days. Up to seven percent, though, are so angry they seem to have almost become invisible.   Rage with traditional parties and fears over a recession-driven rise in crime have given the ultra-nationalist Golden ...
10 May, 2012:
EFSF withholds fifth of bailout payment
Eurozone governments on Wednesday agreed to pay out 5.2bn euros from the region's bailout fund to Greece, despite opposition from some member states following the Sunday's election results.   After a conference call, the board of the European Financial Stability Facility, the 700bn euro ...
10 May, 2012:
OTE says underlying performance improving
Hellenic Telecom (OTE), the biggest telecoms company in southeastern Europe, said its underlying performance was improving, after reporting a big one-off gain from a disposal in Serbia had lifted quarterly profit above forecast.   "Our competitive drive, notably in mobile, led to th...
10 May, 2012:
Pasok's Venizelos in third bid for Greece coalition
Pasok leader Evangelos Venizelos will make a third effort to form a coalition government in Greece amid political turmoil following Sunday's elections. The talks follow failed bids by leaders of the centre-right New Democracy and radical left Syriza bloc. Correspondents warn Pasok is tainted b...
10 May, 2012:
Click here to find out more! Brent rises on Greece bailout payment, technicals
Go Brent crude futures climbed back into positive territory in late trading o n Wednesday, snapping five days of losses after approval of a bailout payment to Greece eased worries about eurozone debt. Oversold conditions in recent days after an extended drop in prices sent crude futures down a...
10 May, 2012:
Greece fails to form a coalition…again
LONDON (SHARECAST) - Not unexpectedly Greece once again failed to form a coalition government and radical left party Syriza threw in the towel, passing the baton to the third most voted party Pasok. Now the socialist party leader and ex-Finance Minister Evangelos Venizelos will have the opport...
10 May, 2012:
Greece faces euro exit after Left says bail-out dead
Published: Thursday, May 10, 2012, 12:58 IST By Alex Spillius | Place: Athens, Brussels | Agency: The Daily Telegraph   ...
10 May, 2012:
German Bunds Decline After Bailout Fund Confirms Aid to Greece
German bunds fell, pushing 10-year yields up from a record, after the European Financial Stability Facility yesterday confirmed it would release 5.2 billion euros ($6.74 billion) in funds to Greece. German two-, five-, 10- and 30-year yields dropped to all- time lows yesterday as Greek leaders st...
09 May, 2012:
Greece political gaming batters risk assets again
09 May, 2012:
Situation in Greece 'extremely worrying': France
PARIS - French foreign minister Alain Juppe said on Wednesday that the situation in Greece was "extremely worrying" after elections punished mainstream parties backing an EU-IMF bailout package. "The situation is extremely difficult, extremely tense. The result of the elec...
08 May, 2012:
Syriza party to try to build anti-austerity cabinet
Greece radical Leftist Syriza party to try to build anti-austerity cabinet Greece's radical leftist Syriza party will today trying to build an anti-austerity cabinet and prevent fresh elections, a day after the conservatives failed to form a coalition government. Syriza leader Alexis Tsipra...
08 May, 2012:
First coalition attempt fails in Greece
BRUSSELS - Greek Conservatives failed to cobble together a coalition on Monday (7 May), with leftist leader Alexis Tsipras set to try and form a government opposing the "barbaric" bail-out, a move that would put into question the country's future in the eurozone. "I tried to fi...
08 May, 2012:
Left gets historic but slim chance to lead Greece
By Dina Kyriakidou ATHENS | Tue May 8, 2012 2:19am EDT (Reuters) - Greece's Left Coalition party will get an historic chance on Tuesday to form a government opposed to the country's EU/IMF bailout, after the mainstream conservatives failed to cobble together a coalition followi...
08 May, 2012:
Greece told to execute bailout terms or face bankruptcy
ARTHUR BEESLEY, DEREK SCALLY, and RUADHÁN Mac CORMAIC GREEK LEADERS have been warned they run the risk of bankrupting the country if they fail to form a government that pledges to fully execute the second EU-IMF bailout plan for the country. The hard line taken by Germany and the European a...
08 May, 2012:
Tsipras picks up baton after Samaras fails to form unity government
The leader of the Coalition of the Radical Left (SYRIZA), Alexis Tsipras, is to get a shot at forming a coalition government from Tuesday after an attempt by Antonis Samaras, the leader of conservative of New Democracy which came first in the general elections, failed to bear fruit. Tsipras i...
08 May, 2012:
Germany unmoved by anti-austerity votes in Europe
Germany is ruling out any substantive shift in its approach to Europe's debt crisis despite a rising chorus of opposition to Berlin's austerity policies that reached a crescendo in Sunday's elections in Greece and France.   Chancellor Angela Merkel, speaking in Berlin on Monday, rejected...
08 May, 2012:
Paris and Athens give Brussels a policy headache
Pity Europe's policymakers. For 2-1/2 years they have sought a way out of the biggest crisis to strike the European project since its founding over 50 years ago, and for 2-1/2 years one drama after another has stumped them.   Whenever a glimmer of light has appeared at the end of the tun...
07 May, 2012:
Greece must implement bailout deal, EU ready to help
Greece must implement the reforms it agreed to under the second bailout programme and the European Commission is ready to help Athens with that, the European Union executive said on Monday, after Greek parties opposing the bailout did well in elections.   "Full and timely implementa...
07 May, 2012:
OASA reaching target of reducing operating costs
Efforts to rein in losses at the Athens Urban Transport Organization (OASA), which manages the capital’s public transport system, appear to be bearing fruit as the company is on target to reduce its operating loss by more than 50 percent. According to figures for the first two months of...
07 May, 2012:
The Ancien Régime unravels in Greece
The achievement of only a third of the vote by Greece's traditional conservative and socialist ruling parties marks the end of the old political order, an electoral revolution which could spread to other European countries if the crisis continues, argues Yiannis Roubatis. Yianni...
07 May, 2012:
Greece elects neo-Nazis amid new fears for euro and Europe
After Hollande's victory in France, radical Greeks give a resounding no to austerity LAST UPDATED AT 15:02 ON Mon 7 May 2012 VOTERS in Greece have emphatically rejected austerity throwing the country's future into uncertainty, and threatening to plunge Europe back into economic...
07 May, 2012:
Greece in turmoil after election
Greece plunged into turmoil today after an election which rejected a painful international bailout and left big questions over whether the country could avert bankruptcy and stay in the euro. Amid uncertainty over whether a new government was possible, President Karolos Papoulias gave a three...
07 May, 2012:
Comment is free Greece takes a leap into the dark, driven by defiance and despair
It has said no to austerity and Merkozy – but with the rise of Golden Dawn and Syriza, it's not clear what it's said yes to yet The message of Sunday's election in Greece is clear: the Greeks have said no to more of the cuts and austerity measures that have devasted the country, pushing...
07 May, 2012:
Greek parties seek to form coalition in wake of election upheaval
Athens, Greece (CNN) -- Greek political parties stung by a wave of anti-austerity anger began trying to piece together a coalition government on Monday amid a reminder from the European Commission that the debt-ridden country should stick by its obligations. "The commission hopes and exp...
07 May, 2012:
3XSQ: Greece, France in turmoil post-elections
May 7 - Greece faces dangerous turmoil after election and a short party for Francois Hollande after his French election win...
07 May, 2012:
German Chancellor urges Greece to continue with agreed reforms
German Chancellor Angela Merkel has urged Greece to continue with agreed reforms. Speaking in Berlin, she said: "It is most important at the moment that we give Greece the opportunity to assess and evaluate that result and we will have to consult as to the future steps. ""It is ...
07 May, 2012:
Greek Parties to Start Coalition Talks, but Fresh Elections Loom
ATHENS—Greece's party leaders will begin cross-party talks Monday in an attempt to form a government, but prospects for a coalition appeared dim after Sunday's vote delivered a political deadlock, making fresh elections almost inevitable and casting doubt over the country's future in the...
07 May, 2012:
Euro punished after France, Greece elections
TOKYO - The euro sank in value on Monday as the electoral defeat of ruling parties in France and Greece stoked anxiety in Asia about the fate of austerity policies designed to end the eurozone's debt crisis. Among creditor nations in Asia, concern emerged in Japan and China about the zone's po...
07 May, 2012:
Hollande Wins: But the Real Euro Problem is in Greece
Francois Hollande has won the French Presidency for the Socialist Party but the real problem for the euro, the eurozone, is in fact the results of the Greek Parliamentary elections which also took place on Sunday. Tim Ferguson has a good round up of the details of matters here. It is true that...
07 May, 2012:
Ungoverned Democracy: Greece after the elections
The results of the elections have brought an end to the post-Junta era in Greek history dominated by New Democracy and PASOK. But if this is a vote for something new, it is by no means clear what this "new" will be. There were no flags flying in Athens tonight. As I take the metro ho...
07 May, 2012:
Financial markets reeling after France and Greece elections
By Staff and agencies The Guardian Monday, May 7, 2012 Election of anti-austerity François Hollande in France and hung parliament in Greece create uncertainty about eurozone debt crisis Asian stock markets have been pummelled by election results in France and Greece that have heightene...
07 May, 2012:
Greece's two main parties “lose majority”
PanARMENIAN.Net - Greece's two main parties, which back tough austerity measures, have lost their parliamentary majority, throwing the country into political uncertainty, BBC News reported. Pasok and New Democracy attracted less than a third of the vote in elections on Sunday, May 6. With ab...
07 May, 2012:
Markets down in reaction to anti-austerity votes in Greece and France
Stock markets in Greece and France opened lower this morning, reacting to anti-austerity elections in Greece and France over the weekend. In Greece, the parties pushing through what many Greeks see as German-led austerity measures in exchange for bailout funds failed to hold on to power. The...
07 May, 2012:
Euro falls to three-month low
The euro fell to a three-month low after Socialist Francois Hollande was elected president of France and as Greek voters flocked to anti-bailout parties, stoking concern austerity efforts in Europe may be derailed. The 17-nation currency slid for a sixth day, its longest series of losses sinc...
07 May, 2012:
The first victims of the elections
Results are increasing political uncertainty and putting at risk Greece’s position in the euro By Dimitris Kontogiannis The outcome of the Greek general elections based on exit polls and early voting returns showed on Sunday night that the country was entering a period of political uncer...
07 May, 2012:
ND's Samaras to have first go at forming gov't in fragmented landscape
New Democracy leader Antonis Samaras is due to meet President Karolos Papoulias on Monday afternoon before beginning an attempt to form a coalition government ...
07 May, 2012:
Votes, percentage and seats 2012
Parliamentary Elections 2012   Nationwide 99.06% Updated: 07-05-2012 09:39:24   ...
07 May, 2012:
Reaction from around the world
The election results have stunned pundits and media commentators around the world, in many cases overshadowing even the triumph of socialist Francois Hollande in the French presidential polls.   But both elections were interpreted as a direct challenge to the austerity-driven policies of...
04 May, 2012:
Europe open: Investors watching elections in Greece and France
LONDON (SHARECAST) - -Banks deposit €805.7bn overnight at ECB -Eurozone service sector contracts faster than expected FTSE-100: -0.49% Dax-30: -0.60% Stoxx 600: -0.58% Cac-40: -0.13% Ibex 35: 0.77% European equities have begun the session with slight losses, as investors opt...
04 May, 2012:
Date for post-election visit to Greece not fixed, says IMF
The International Monetary Fund is expecting Greece’s new government to implement “the main goals” of its new program after the elections but does not know exactly when its officials will visit Athens. Questioned about Sunday’s elections and when IMF representatives wil...
04 May, 2012:
Tsipras calls for leftwing government
Addressing his coalition's final election rally on Thursday evening, Radical Left Coalition (Syriza) leader Alexis Tsipras called on voters of provide a mandate for the creation of a leftwing government.   Appealing for disillusioned Pasok and New Democracy voters and the entire spectrum...
04 May, 2012:
Samaras goes after all comers at Zappeio rally
New Democracy leader Antonis Samaras on Thursday made a last-ditch appeal to voters in Athens, his biggest constituency, for a strong mandate in Sunday's elections to lead the country back to growth and stability.   Samaras is hoping a last-minute polarisation of voters will get him eno...
04 May, 2012:
Greek crisis: economic misery forces workers from cities and a return to a barter economy
Sitting in the shade of a mulberry tree in a market square of Volos, Eleni Boubouli is selling dried wild herbs. She picks them herself from the Mount Olympus and other peaks of Thessaly. The simple stall is her way of piecing together a living during Greece'songoing crisis that inclu...
02 May, 2012:
S&P raises Greek rating, lifting it out of default
Standard & Poor's raised Greece's credit rating to low-speculative grade on Wednesday, lifting it out of default territory as expected, after Athens completed the biggest sovereign debt restructuring in financial history. "While the exchange has, in our view, alleviated near-term fun...
02 May, 2012:
Greek unemployment second highest as EU rate reaches 15-year peak
Euro-region unemployment rose to the highest in almost 15 years and manufacturing contracted for a ninth month, adding to signs the economy continues to weaken. The jobless rate in the 17-nation euro area increased to 10.9 percent in March from 10.8 percent in February, the European Union&rsq...
01 May, 2012:
Greece detains immigrants
Published on Tuesday 1 May 2012 03:31 Greek authorities have opened a detention centre for illegal migrants under an anti-immigration drive launched shortly before Sunday’s national election. Police say dozens of people were being taken yesterday to the site, on the outskirts of Athens. T...
01 May, 2012:
Greece’s retail sales down as Germany’s rise
Tuesday 1st May 2012, 1:40am TIM WALLACE RETAIL sales plummeted again in Greece in February, official figures revealed yesterday, but increased in Germany, underlining the growing divergence between the core and peripheral Eurozone economies. Greek sales fell 13 per cent in t...
01 May, 2012:
Medical tests show more HIV in sex workers
Medical tests conducted on more than 100 prostitutes by the Center for Disease Control and Prevention (KEEL) in the past two days revealed 11 sex workers to be HIV positive, according to a doctor at KEEL. Evangelos Liapis told Skai television on Tuesday morning that KEEL has intensified AIDS ...
01 May, 2012:
Euro membership not a certainty, says Venizelos
Greece's Evangelos Venizelos, who will lead the ruling Socialists into the May 6 election, said in a newspaper interview on Tuesday that euro membership is not a certainty regardless of the outcome. "There are certain misconceptions that worry me: for instance, the misconception that wha...
01 May, 2012:
Europe's economic gloom hits shares, euro
European shares snapped a four-day rally and the single currency was under pressure on Monday as signs of a deepening eurozone recession raised suggestion that the region's governments could soften their approach to tackling budget deficits. US shares were also set for a weaker start on the r...
30 April, 2012:
Rise of far right in Greece worries mainstream
ATHENS, Greece - Reeling from a vicious financial crisis that has cost them pensions and jobs, Greeks have been turning away in droves from the mainstream politicians they feel have let them down. Another political force is trying to tap the void, with blunt promises to "clean up" the ...
30 April, 2012:
Bank deposits stabilize in eurozone periphery, ECB data shows
Firms and consumers stopped pulling their money out of Greek banks in March, European Central Bank data showed on Monday, giving some respite to the country's troubled banking system. Private sector deposits in Greek banks increased 0.5 percent in March after a near 2.7 percent drop in Februa...
30 April, 2012:
Kolossos upsets PAO while Reds make final
By George Georgakopoulos Olympiakos is already in the final of the league after seeing off Panionios for a third time in five days, but Kolossos stirred things up in the semifinals on Saturday as it managed to beat Panathinaikos to reduce its deficit to 2-1 in the best-of-five series. The Rho...
30 April, 2012:
Media owner goes on trial
Publisher and television station owner Giorgos Kouris, who was detained for tax debts last week, is to go on trial on Monday. Kouris is facing misdemeanor charges for owing the state up to 307,000 euros and has been ordered to face a magistrate’s court. Kouris is a shareholder in Alter TV...
30 April, 2012:
Olympiakos win Greek Cup to seal domestic double
Olympiakos overcame Atromitos 2-1 to win the Greek Cup thanks to a goal from substitute David Fuster a minute from the end of extra time on Saturday as they completed a domestic double.   Algeria striker Rafik Djebbour had opened the scoring in the 29th minute for the Greek champions at ...
30 April, 2012:
Socialist leader appeals to Greeks to stop the far-right
Greek Socialist leader Evangelos Venizelos warned voters they were opening the gates of parliament to the "goose-stepping" far-right and appealed for understanding over his party's support for austerity in return for an international bailout.   In an interview, the former finance...
28 April, 2012:
On The Netherlands, zoos, Turkey, reforms, dignity, Germany
Greece rapped over its zoos Thank you for the article on Greek zoos. The result of the investigation is very sad. It makes one wonder why those 13 zoos exist? They only display public cruelty. Maybe there is another sinister human reason. Dina Hatzipavlu   Greek zoos Out of 14 ...
28 April, 2012:
Gov’t sets out selloff program
By Vangelis Mandravelis The latest report by the government on the Stability and Growth Program for the second quarter of the year provides for the start of the privatization process for 34 regional airports, 12 ports -- including Piraeus and Thessaloniki -- and of water companies EYDAP and EY...
28 April, 2012:
Venizelos pledges no more taxes in June
No new taxes in June, no horizontal cuts to salaries and pensions, and a gradual lifting of a number of taxes were some of the promises PASOK president Evangelos Venizelos handed out on Saturday noon at the presentation of his party’s election program in Athens. Speaking at the Theodoro...
28 April, 2012:
Private sector wages losing ground
Greek private sector workers saw their income plunge by a quarter last year as the country's recession hit hard, the Organisation for Economic Cooperation and Development said, with wages falling far behind that of other euro zone countries.   The average gross wage for full-time staff d...
28 April, 2012:
Simitis: We were spark, not cause, of eurozone crisis
Former prime minister Costas Simitis has said that Greece was not the spark, but merely exposed, the inherent flaws in the eurozone.   In an opinion piece in Friday's Guardian, Simitis, who was prime minister from 1996 to 2004, maintains that the cause of the eurozone crisis is the fact ...
27 April, 2012:
Greece denounces Turkish 'blackmail' on border issues
Greece cannot control its borders without the cooperation of its Turkish neighbour, Greek Minister for Citizen Protection Michalis Chrisochoidis told the European Parliament on Wednesday (25 April), denouncing France's lack of solidarity on the matter and Turkey's attempts at "black...
27 April, 2012:
Greece sparked crisis but was not cause, ex pm says
Costas Simitis said country's problems exposed inherent flaws of eurozone In a commentary published in The Guardian on Friday, Greece’s former socialist premier Costas Simitis said the country was not responsible for the euro zone crisis but was merely the spark that exposed the inherent...
27 April, 2012:
Ex Bundesbank Head: Greece Was Not Ready for Euro
Greece entered the single currency zone unprepared, but its expulsion now will not solve any problems, according to the former head of the German central bank. "We can say that Greece should not have joined the EMU, but that doesn't help," Ernst Welteke, who was Bundesbank presiden...
27 April, 2012:
Privatisation agency considers breaking up railway
The government is considering breaking up the country's state-owned railway company and selling the right to operate some routes to different companies, in an attempt to maximise proceeds from the privatisation and sidestep regulatory hurdles.   The state had initially planned to sell Tr...
27 April, 2012:
Tax evaders to have accounts seized
Finance Ministry to collect debts from deposits without prior notice to protect against flight By Prokopis Hatzinikolaou Tax evaders could find their bank deposits seized up to the amount they owe to the state if their debt from the non-payment of value-added tax exceeds 150,000 or they have i...
27 April, 2012:
Ex-minister linked to offshore firm by relative
In an unexpected turn in the investigation of an extensive money laundering network centered on former Defense Minister Akis Tsochatzopoulos, one of several of his relatives implicated in the probe directly linked the socialist veteran to one of three offshore firms believed to have been used ...
27 April, 2012:
Venizelos insists on least one TV debate
Socialist leader writes to heads of five parties elected to Parl't in previous polls The leader of socialist PASOK, Evangelos Venizelos, on Friday sent letters to the heads of all five political parties elected to Parliament in the last general elections, in October 2009, calling on them to pa...
26 April, 2012:
EU threatens to take Greece to court over OTE golden share
By Laurence Norman and Clare Connaghan, Dow Jones Newswires Thursday 26 April 2012 Greek govt given two months to address concerns that it has too much say in the operator. ...
26 April, 2012:
Samaras sets out ND's political and social reforms
New Democracy leader Antonis Samaras has set out his party’s proposal for political and social reforms ahead of the May 6 elections, including repealing Greece’s citizenship law, clamping down on petty crime and reducing the number of MPs. “Greece is a country, it is not jus...
26 April, 2012:
Francois Holland: Greek burden needs to be lightened
Greece has reached the limits of what it can take and needs to be put on a path to development, the Socialist candidate in the French presidential election said on Wednesday.   Describing the situation in Greece as a "vicious cycle", Francois Holland said that the country was i...
26 April, 2012:
Thirty-two parties to contest elections
A total of 32 parties, coalitions and individual candidates will contest the May 6 general election, following their approval by the Supreme Court (Areios Pagos) on Thursday.   The court banned four parties from taking part: National Hope,  PAME in GESEEP [Π.Α.Μ.Ε. στ...
26 April, 2012:
Greens say they are 'part of the solution'
Overcoming the current crisis requires a radical overhaul in the way people live and the way the economy is run, the Ecologists-Greens party said on Wednesday.   "Our dilemma is what course the real economy will take and what the future of the country will be," said Yiannis Par...
25 April, 2012:
Samaras calls for 'national' cultural policy
Terms and ideas such as homeland, God, entrepreneurship, development and security need to be "rehabilitated", the New Democracy leader told writers and artists on Wednesday.   Antonis Samaras called on people from the arts to help restore the terms because, as he said, "th...
25 April, 2012:
Greece says final participation rate in PSI is 96.9 pct
Greece said on Wednesday it completed the bond swap that formed part of its second international bailout, restructuring about 199 billion euros of its debt. The final participation rate in the swap reached 96.9 percent, the finance ministry said. «We are extremely pleased with the resul...
23 April, 2012:
Eurozone cuts deficits but overall debt rises
The 17 countries that use the euro still face an uphill struggle to control their debts in spite of managing to slash government deficits to 4.1 percent of eco...
23 April, 2012:
Kastelorizo to be included in Olympic torch relay
The Greek island of Kastelorizo will finally be included in the Olympic torch relay across the country, Kathimerini understands. Kastelorizo, a small island southeast of Rodos, was not originally included in the route. The Hellenic Olympic Committee (HOC) justified the decision saying official...
23 April, 2012:
Painful Greek austerity bit into 2011 budget gap
Battered Greece saw its budget deficit fall to 9.1 percent of gross output last year as severe austerity required to secure international aid bit into spending. Athens managed a 1.2 percentage point fiscal improvement compared with 2010 but its primary budget balance -- which excludes debt se...
23 April, 2012:
Qatar royal buys Greek island
A member of Qatar’s royal family has purchased a Greek island for €5m, according to a local report. The 1,236-acre island, named Oxia, was initially advertised by owners the Greek-Australian Stamoulis family for €6.9m ($9.1m), Greek daily Ekathimerini reported, citing unnamed sour...
23 April, 2012:
Red ink in single digits
The government managed to keep its budget deficit in single digits last year, as the Hellenic Statistical Authority (Elstat) reported on Monday that annual overspending last year was 9.1 percent of gross domestic product, while national debt had reached 355.6bn euros before a landmark res...
23 April, 2012:
King is exiled from the Queen’s Diamond Jubilee banquet
King Constantine of Greece has been left off the guest list for the Queen 's Diamond Jubilee banquet, to avoid upsetting the Greek government. Baroness Warsi, the Conservative Party chairman, claimed on Question Time that the Queen was responsible for the guest list for the Diamond Jubi...
20 April, 2012:
National Bank of Greece Posts $16 Billion Loss
Greece's largest lender, National Bank of Greece, reported a 12.34 billion euro ($16.3 billion) loss in 2011 on Friday, hurt by a sovereign debt swap markdown and bad loans as the country's recession deepened. National Bank [NAG-FF  1.75    -0.044  (-2.45%)   ...
20 April, 2012:
Greece makes start on becoming Europe’s solar ‘powerhouse’
Greece’s plan to dig its way out of its financial hole by becoming Europe’s solar ‘powerhouse’ may be starting to work. Global photovoltaics developer SDL Solar plans to design and build 23 MW of utility-scale solar photovoltaic plants in Greece as part of a wider plan t...
20 April, 2012:
Election 2012: what happens next? ND/Pasok could get majority, final polls suggest
Published on the last day that political opinion polls can be published, three polls on Friday all suggest that May 6 election will produce a ten-party parliament, which hasn't happened since the 1950 general election.   The three polls – Kapa for Ta Nea, Marc for Ethnos and Rass fo...
20 April, 2012:
PPC to plug liquidity gap with 960-mln-euro loan
Greece's biggest power utility PPC said on Friday it would sign a 960 million euro bank loan next month to cope with a liquidity crunch caused by austerity-hit customers dodging their electricity bills. The move will allow state-run PPC to refinance a large chunk of 1.12 billion euros ($1.12 ...
20 April, 2012:
Ex-minister’s family in the spotlight
Ten people who have been implicated in a money-laundering network that prosecutors believe was used by former Defense Minister Akis Tsochatzopoulos to conceal millions of euros in under-the-table payments from defense procurement deals -- including the ex-minister’s daughter Areti and hi...
18 April, 2012:
Private islands around Greece on sale at bargain prices
By Nikos Roussanoglou Following a three-year period during which no purchases were recorded, major activity is currently being observed in the sale and development of Greece’s private islands. According to experts operating in this singular market, a number of owners, especially those wh...
17 April, 2012:
Red tape and corruption discourage investment
Local businesspeople and foreign diplomats argue that Greece needs an urgent overhaul of the state to eliminate red tape and corruption if it is to attract investment and solve its growing liquidity problem. “When a country wins this battle, the victors are many,” British Ambassador...
17 April, 2012:
Parties launch pre-election campaigns
Political leaders to start rallying ahead of May 6 polls as creditors eye further pension cuts After a few days of relative respite over the Easter weekend, political leaders are expected to start campaigning in earnest this week ahead of snap elections on May 6. Meanwhile, Kathimerini unders...
17 April, 2012:
No simple answer to EU problem
Fierce debate is growing in Europe over whether austerity or growth offers the best strategy to overcome the continent's sovereign debt crisis. As if it were that simple.   As the euro zone hovers on the brink of its second recession in three years, the battle launched in academic journa...
17 April, 2012:
Wind must maintain bulging EU sails
Wind power has bucked Europe's economic downturn to swell gross domestic product and create jobs, but needs more ambitious EU green energy policy and investment in research and development to keep growing, the region's industry group said on Monday.   The sector contributed 32 billion eu...
17 April, 2012:
Avramopoulos reassures Greek troops in Afghanistan
In a message to Greek troops stationed with NATO forces in Kabul, Greek Defence Minister Dimitiris Avramopoulos on Monday assured them that the ministry was taking action to ensure their safety while in Afghanistan.   The statement was made in the wake of an attack on the Allied forces' ...
17 April, 2012:
Dutch Crown Prince Willem-Alexander buys Greek villa
The heir to the Dutch throne, Crown Prince Willem-Alexander, has bought a villa near the Greek town of Kranidi. Russian President-elect Vladimir Putin and actor Sean Connery are both said by Dutch media to own homes nearby. The villa was bought for 4.5m euros (£3.7m; $5.9m) from German pho...
17 April, 2012:
European airline offers discount on flights to Greece
Airline Condor will give customers 50 euros off their flights from Germany to Greece in an effort to reverse a slump in bookings, Reuters is reporting. Condor parent company Thomas Cook says there's been a drop in German bookings to Greece this year after a slew of anti-German protests against...
17 April, 2012:
Greece's Lazard banker unlocks deals over secret meetings
By Anne-Sylvaine Chassany & Jesse Westbrook The world of Michele Lamarche, one of Lazard Ltd.'s top advisers to Greece on its debt restructuring, is full of meetings that never happened, officially at least. With efforts to cut in half Greece's 206 billion-euro ($269 billion) debt stal...
16 April, 2012:
Prehistoric town in Greece reopens
One of Greece’s most famous archaeological sites, the prehistoric town of Akrotiri on the island of Santorini, reopened seven years after a deadly roof collapse, local authorities said. Akrotiri was closed in 2005 after a roof erected to protect antiquities caved in, killing a British tou...
16 April, 2012:
ECB worries about election outcome
European Central Bank Governing Council member Ewald Nowotny said that he sees risk for the European debt crisis in the Greek elections, according to an interv...
16 April, 2012:
Greeks reject EU-IMF plan, want coalition rule
A majority of Greeks reject an economic recovery plan imposed in return for EU-IMF loans and would prefer a coalition government to emerge from upcoming elections, opinion polls showed on Saturday. A poll by the MRB company showed that 26.2 percent of respondents intend to vote for a party op...
16 April, 2012:
No-frills Easter for Greeks
Greeks celebrated Orthodox Easter on Sunday in a manner befitting the country's crisis-hit economy with food and drink cutbacks and state expenses kept to a minimum. Stung by higher transport costs and income falls, many opted to stay at home while a leading trade association said purchases f...
14 April, 2012:
Protest outside German embassy
Thirteen German activists were held for questioning by police forces during a protest for solidarity to Greece they held outside the German embassy at 4 on Thursday afternoon, while three photojournalists were also held on the spot for some time, including those of AMNA as well, who were provi...
14 April, 2012:
Anti-immigrant parties grow in Greece amid economic woes
Greece's economic crisis has grown into a full fledged social crisis that has spawned a backlash against mainstream politicians and immigrants, a situation that has witnessed the rise of extremist politics Greece's economic woes have not only meant financial instability but also political and ...
14 April, 2012:
Coalition government best solution for Greece, poll shows
The popularity of the two major political parties in Greece combined is just over 33 percent, according to an opinion poll conducted by MRB polling company published in Real News daily on Friday.   New Democracy (ND) is preferred by 20.5 percent of the respondents, Pasok gets 12.7 percen...
14 April, 2012:
Easter public transport arrangements
Buses On Saturday, buses will be gradually withdrawn from service to return to depot by 11pm. The Sunday timetable will apply to all schedules on Saturday, Easter Sunday and Easter Monday, while the Saturday schedule will apply on Good Friday and Easter Tuesday. No night services after 10p...
14 April, 2012:
Reds claim top spot in regular season
By George Georgakopoulos Olympiakos secured home advantage for the whole of the playoffs as the end of the regular season on Wednesday found the Reds on top with just one defeat in 24 games. The Piraeus giants have not won the Greek league since 1997, but had finished top of the regular seaso...
14 April, 2012:
Three Euro railway firms to bid for TRAINOSE
Three European railway companies are interested in buying all or part of Greece's railway business, as the debt-laden country sells assets to satisfy its lenders, people familiar with the discussions told Reuters. Russia is considering buying the entire Greek railway network and its operator ...
14 April, 2012:
ECB worries about election outcome
European Central Bank Governing Council member Ewald Nowotny said that he sees risk for the European debt crisis in the Greek elections, according to an interview with Vorarlberger Nachrichten on Saturday. “I see risks in the political area,” Nowotny, who also heads Austria’s...
14 April, 2012:
Dimas emerges as a possible coalition PM
The name of the current Foreign Minister, Stavros Dimas, the New Democracy vice-president, is mentioned by some sources as a possible compromise candidate for the premiership given that the snap election on May 6 is likely to produce a hung parliament. The pulverization of the party political...
13 April, 2012:
Bid to revitalize Omonia Square
Another attempt is under way to revitalize run-down parts of central Athens, including the busy yet scruffy Omonia Square, in a bid to lure residents and shoppers back to the city center, Kathimerini understands. Prompted by the KIPOKA citizens movement, municipal officials have launched a se...
13 April, 2012:
Ex-minister is exposed
Prosecutors reveal money laundering that funded Tsochatzopoulos’s life of luxury As former Defense Minister Akis Tsochatzopoulos prepares to spend the Orthodox Easter weekend in a police cell, a 103-page prosecutors’ report has provided shocking evidence of an extensive money-launderi...
13 April, 2012:
ThousandsThousands of Bulgarians Flee to Greece for Easter
More than 20 000 Bulgarian residents have already flocked to Greece in search of more exciting Easter holidays, obviously undisturbed by the economic turmoil in the neighboring country. Traffic through Bulgaria-Greece border checkpoints increased sharply on Thursday afternoon, the most intensi...
12 April, 2012:
Snap elections to determine Greece's future: PM
ATHENS, April 11 (Xinhua) -- The Greek snap general elections to be held on May 6 will determine the country's future in the coming decades, Prime Minister Lucas Papademos stressed on Wednesday evening. Papademos announced the dissolution of the parliament and formally call of the polls with ...
12 April, 2012:
Open skies for UAE and Greece
The United Arab Emirates represented by the General Civil Aviation Authority (GCAA) has signed an open skies deal with Greece. Representatives from Abu Dhabi Department of Transport, Dubai Civil Aviation Authority, Sharjah Department of Civil Aviation, Ras Al Khaimah Department of Civil Aviation,...
12 April, 2012:
14 firms interested in gas firm sale
ATHENS, Greece (AP) - Greece says 14 companies, including a subsidiary of Russian gas company Gazprom, have formally expressed initial interest in buying Greek state gas firm DEPA under the debt-crippled country's mammoth privatization programme. The state privatization fund says the firms wi...
12 April, 2012:
Greece to auction €1.25bln of three-month T-bills on April 17
Greece will auction 1.25 billion euros ($1.64 billion) of three-month T-bills on April 17, to fund the rollover of a previous issue, the country's debt agency PDMA said on Thursday. The settlement date will be April 20. Only primary dealers will be allowed to participate and no commission will ...
12 April, 2012:
Election 2012: what happens next?
Elections have been called, so what happens next? Below are the main dates that you should add to your election diary, that's if you're a political animal.      April 11 Prime minister called elections for May 6. Parliament is dissolved and a special issue of the Government Gaz...
12 April, 2012:
Unemployment hits new record of 21.8%
The jobless rate rose to a fresh record of 21.8 percent in January from a revised 21.2 percent in December, the Hellenic Statistical Authority (Elstat) said on Thursday, as the debt crisis and austerity measures took their toll on the labour market.   Elstat's Labour Force Survey showed ...
12 April, 2012:
State sector staff cut by 56,000
The government has shed 50,060 jobs from public sector through attrition and ending short-term contracts since a census was carried out two years ago.   The administrative reform and e-governance ministry said that 711,529 employees currently work for the state, in the civil service and ...
12 April, 2012:
Poll shows further drop in support for New Democracy
Support for New Democracy is continuing to weaken substantially as some of the party’s supporters drift toward the recently formed Independent Greeks, according to a new opinion poll. The Public Issue survey for Skai TV and Kathimerini suggests ND’s backing has dropped 3.5 percent...
12 April, 2012:
Four airlines share subsidized routes
By Alexandra Kassimi After a considerable delay, given that the tourism season started in late March, the airlines to fly the country’s 24 subsidized air routes were finally announced on Wednesday, with the contracts split between four companies. Olympic Air will operate 13 routes, incl...
12 April, 2012:
Deficit contained as spending is cut
Curtailing of public investment and reduced tax refunds limit shortfall ...
11 April, 2012:
New ferry strikes threatened
Striking ferry workers will meet after Easter to consider fresh stoppages, despite fierce opposition to the action by the government, tourism and industry groups.   The 48-hour strike began on Tuesday and has halted ferry services to islands and Italy until midnight on Wednesday, playin...
11 April, 2012:
Civil service census before layoffs
A total of 712,076 people are employed by the Greek state, according to the results of the latest census which were made public Tuesday by Administrative Reform Minister Dimitris Reppas and showed that more than 50,000 workers have left the civil service since 2010. What remained unclear was ...
11 April, 2012:
Venizelos wants PASOK to play 'leading role' in coalition
In what is likely to be his last speech in Parliament before the 300-seat House is dissolved ahead of elections, the leader of socialist PASOK, Evangelos Venizelos, said his party was prepared to play a “leading role” in a new coalition government. Venizelos’s speech appeare...
11 April, 2012:
PM Papademos poised to announce May 6 elections
Prime Minister Lucas Papademos is expected to meet President Karolos Papoulias at 5 p.m. on Wednesday and announce that Greece is to hold what promise to be it...
10 April, 2012:
Greece to return to growth in 2014: ECB
BERLIN: Greece, bailed out by the EU and the IMF and mired in recession for a fifth year, should return to growth from 2014, European Central Bank board member Joerg Asmussen said. "I expect, following the implementation of the (government's) programme to stabilise the public finances, ...
10 April, 2012:
Samaras reiterates need for absolute majority
If the next general election fails to give a party an overall majority, then new elections will be the inevitable outcome, the New Democracy leader said on Monday.   In an interview with Mega TV, Antonis Samaras also insisted that the general election should must be held on May 6.  ...
10 April, 2012:
Exports reaching saturation point
Industrial output and imports fall but consumer prices stubbornly continue to rise Official figures released on Monday by the Hellenic Statistical Authority (ELSTAT) show a slowdown in the growth of exports and a further reduction in industrial output, although inflation appears to be going do...
10 April, 2012:
Parties vote for funding boost
Parliament narrowly voted Monday to grant the main political parties a 29-million-euro cash injection ahead of elections but the issue caused a significant rift in PASOK. A total of 155 of 300 MPs voted in favor, 56 voted against, three voted present and 86 were absent. The amendment will lea...
10 April, 2012:
EOPYY doctors refuse to provide services on credit
Doctors who work with the National Organization for Healthcare Provision (EOPYY), Greece’s main healthcare provider, joined pharmacists on Monday in saying that they would no longer provide patients with service on credit. The doctors say they are owed some 700 million euros by the soci...
10 April, 2012:
Scheme to heal ‘wounded’ Athens
Athens Mayor Giorgos Kaminis signed an agreement with the government on Monday that is set to lead to more than 1.5 billion euros being invested in the regeneration of central Athens in a plan that could lead to downtown stores opening on Sundays. Kaminis agreed the scheme, to be called &ldqu...
10 April, 2012:
Iran stops oil sales to Greece
Iran's oil minister says the country has halted oil sales to Greece. It's the latest European country hit with Iran's pre-emptive retaliation over an EU embargo that is to go into effect in July and that was imposed over Tehran's controversial nuclear program. The West suspects Tehran of purs...
05 April, 2012:
Iran cuts oil to Greek refineries: report
Iran has blocked oil sales to two Greek companies, Hellenic Petroleum (Elpe) and Motor Oil Hellas, after they failed to make payments, Iranian state television reported on Thursday.   English-language Press TV reported that the two companies, the country's largest refineries, were barred...
05 April, 2012:
Time to pitch Greek food
Greek food companies, such as shrimp-farming firm Elliniki Garida, which according to reports is set to open a plant in Kilkis, central Macedonia, will only rebound if they start promoting local products in a well-organized manner, the Foundation for Economic and Industrial Research (IOBE) has...
05 April, 2012:
Greece extends bond deadline for holdouts for second time
Greece extended a deadline for a second time on Thursday for remaining bondholders to accept a debt swap, giving Athens a little more breathing space to formulate a response to investors who have refused to sign up for the landmark deal. Athens must in any case make a decision soon, in coordi...
05 April, 2012:
ECB not offering open arms to all Greek banks just yet
Some Greek banks may lose access to the ECB's funding operations while they are being recapitalised and will have to rely on the Greek central bank's emergency liquidity assistance facility (ELA) for liquidity, senior ECB officials said on Wednesday.   Greece will use part of its second ...
05 April, 2012:
Cross-checking software sits idle
Finance Ministry refrains from utilizing expensive e-applications against tax evasion By Prokopis Hatzinikolaou Dozens of software applications that could provide vital help in boosting public revenues remain unused by the General Secretariat for Information Systems (GSIS) during what is a par...
05 April, 2012:
Actor Roberto Benigni receives honorary PhD in Thessaloniki
Academy Award-winner Roberto Benigni was granted an honorary doctorate from the Italian language and literature department of Thessaloniki's Aristotle University on Wednesday night, signing the praises of Greece to an enthusiastic audience. The 59-year-old Italian actor, director and writer o...
04 April, 2012:
Corruption still costs Greece dearly
An international watchdog says petty corruption in the public sector is still costing Greeks millions of euros a year, even though the country's financial crisis has led to a reduction in the size of bribes. Transparency International said overnight a nationwide survey for 2011 found smaller ...
04 April, 2012:
Avramopoulos meets with American Jewish leaders
Greece and Israel have taken "spectacular steps" leading to "a new geopolitical and geostrategic environment" that opens up "new prospects for both peoples", the defence minister has said.   Dimitris Avramopoulos was speaking during a dinner hosted by the Am...
04 April, 2012:
PIMCO expects another haircut
Greece will likely need a second debt restructuring, according to a top official at investment fund PIMCO, as the first one that was completed last month may well not be sufficient for the country. Andrew Bosomworth, head of the PIMCO portfolio in Germany, said on Tuesday that “with the...
03 April, 2012:
Threat of more measures for 2012
Next gov’t may need to act urgently in June should revenues keep missing the targets Prokopis Hatzinikolaou and Sotiris Nikas New ...
03 April, 2012:
Greece responds to German comments over WWII claims
Greece responded on Monday to comments by the German Foreign Ministry suggesting that claims arising from the Second World War Nazi occupation are “no longer an issue” by insisting it does not believe the issue has been settled. Foreign Ministry spokesman Grigoris Delavekouras sai...
03 April, 2012:
Value of Greek exports rises in 2011
The value of Greek exports in 2011 increased by 37 percent compared to the year before, Skai reported on Tuesday. The figure was sensibly higher than the European Union average which stood at 11.3 percent. Greece's exports for 2011 valued at 22.4 billion euros, amounting to 10.4 percent of gro...
02 April, 2012:
Euro leaders seek global help after firewall boosted
Efforts to resolve the two-year-old European debt crisis swung back to world leaders after euro-area policy makers boosted a firewall designed to overcome doubts about their crisis response and to lure additional emergency aid. Finance ministers from the 17-member monetary union unveiled a pa...
02 April, 2012:
Canada to ratchet up investment in Greece
ATHENS – Canada is confident that Eldorado Gold Corporation, a Canadian international gold producer, will have a success story in debt-troubled Greece and help will change perceptions, Canada’s Ambassador to Greece Robert William Peck told New Europe on 27 March in Athens. The com...
02 April, 2012:
Greece invites Turkish investors
Representatives of Greek agencies and leading entrepreneurs recently met with their Turkish counterparts in Istanbul. The aim of the Greeks is to attract entrepreneurs from their eastern neighbour to invest in the debt-stricken country’s mammoth €50 billion privatisation programme, ...
02 April, 2012:
Greece, Israel, Cyprus to boost energy investment
Greece enhanced collaboration with Israel and Cyprus on energy investments to explore ways to exploit natural gas reserves in southeastern Mediterranean Sea during a two-day forum on 28-29 March. A trilateral memorandum in the fields of electricity and natural gas is due to be sealed in the ne...
02 April, 2012:
Israeli firms compete in Greece fire sale
Companies competing for purchase of Greek state assets as it pushes ahead with its world-record 50 b. euro divestment program. Several Israeli firms are competing for the purchase of Greek state assets as the debt-stricken country pushes ahead with its world-record 50-billion-euro divestment pr...
02 April, 2012:
UNI urges Troika to change course on Greece
UNI reacting to remarks made by the Troika during questioning by MEPs says its austerity strategy will sink Greece and send wages to the bottom During an exchange between top representatives of the Greek Troika and MEPs on the economic and social crisis in Greece, the Troika sai...
02 April, 2012:
Elections date to be announced during Holy Week
An official announcement regarding the exact date of the next general elections will be made during Holy Week government spokesman Pantelis Kapsis told Skai TV on Monday. President Karolos Papoulias will be informed by Prime Minister Lucas Papademos before a public annnouncement is made said ...
02 April, 2012:
Natural gas finds redraw energy map
By Chryssa Liaggou The large hydrocarbon deposits recently discovered in the Eastern Mediterranean are leading to a redrawing of the global energy map and developing into an apple of discord. Results of the research to date confirm natural gas deposits totaling more than 35 billion cubic meter...
02 April, 2012:
PASOK, ND jostling for votes
Conservative leader says only his party can gain majority as polls show Socialists edging forward The leaders roman of the two main parties scaled up their rhetoric over the weekend with each insisting that they would prevail in upcoming general elections as the latest opinion poll showed conse...
02 April, 2012:
Pasok making up lost ground, poll shows
Support for Greece's co-ruling socialists is ticking up ahead of an election expected in May, though backing for the country's biggest parties remains low, an opinion poll showed on Saturday.   Support for the bailout and the painful cuts included in it has sharply dented the approval ra...
02 April, 2012:
German foreign ministry puts lid on war reparations debate
The German foreign ministry said on Sunday that for Germany, the issue of German war reparations to Greece was non-existent.   In a statement to AMNA, the ministry said that according to the official position of Berlin, Germany "acknowledges its responsibility" as regards World ...
02 April, 2012:
No reform, no euro cash, Dutch finance minister warns
The Netherlands will not give its share of bailout funds to Greece if the International Monetary Fund deems Athens has failed to keep its pledges and withholds its next tranche of aid, the Dutch finance minister said in a newspaper interview.   The minister, who took a hard line during n...
30 March, 2012:
Rifai expects tourism to add 3 percent
By Stathis Kousounis Greece will have another positive year in terms of tourism with growth of close to 3 percent, according to United Nations World Tourism Organization Secretary-General Taleb Rifai. Speaking at a joint press conference in Athens with Culture and Tourism Minister Pavlos Ger...
30 March, 2012:
Greek PM does not rule out 'some form of financial assistance'
Greece's Prime Minister Lucas Papademos said on Friday the country was making every effort to avoid a third bailout package but said he could not rule out the need for one. "Some form of financial assistance might be necessary but we have to work intensely to avoid such an event,» ...
30 March, 2012:
IMF says Greek taboos must end
Thomsen insists economy will need at least a decade’s work to become competitive again Greece’s creditors are increasing pressure on Athens to ensure that the upcoming pre-election period will not interrupt o slow the application of the program for the streamlining of the economy, w...
30 March, 2012:
Interim government hits new patch of turbulence
Greece’s shaky interim government took another knock on Thursday as Education Minister Giorgos Babiniotis threatened to resign over his attempt to bypass university reforms and PASOK and New Democracy cranked up their election campaign machines. Babiniotis, an academic who was sworn in ...
30 March, 2012:
Debts driving top sides out of town
It’s no secret that two of Greece’s biggest footballing sides are in deep financial trouble and face an uphill struggle to meet criteria set by UEFA, in order to continue participating in European competition.   Panathinaikos especially, face the prospect of dropping off the ...
30 March, 2012:
Syriza gets growth spurt in time for elections
When the going gets tough, the tough get together and form a very large and impressive thing indeed. The tough in question are the Radical Left Coalition (Syriza) who are wearing their “strength in numbers” belief on their sleeve, on Thursday announcing the formation of an alliance...
30 March, 2012:
Brighter times ahead for Greek tourism
Greece's tourism sector will grow moderately this year, a top United Nations official said on Thursday, in a rare optimistic forecast.   Visits to Greece's sun-drenched islands and ancient ruins account for about 15 percent of the economy and one in five jobs, making income from tourism ...
30 March, 2012:
Coca-Cola Hellenice announces structure change
Coca-Cola Hellenic Bottling Co has proposed changes to its internal corporate structure, which will see its operating assets and liabilities transferred to one of its subsidiaries. The changes were approved by the Athens-based company's boards of directors yesterday (March 28) but are ...
30 March, 2012:
Greece’s Restructuring May Not Be Over: S&P
Jennifer Ryan | March 29, 2012 Greece will probably have to restructure its debt again and this may involve bailout partners such as the International Monetary Fund, said Moritz Kraemer, head of sovereign ratings at Standard & Poor’s. There may be, “down the road, I’m ...
30 March, 2012:
Greece, Israel, Cyprus eye gas exports in future
Greece, Israel and Cyprus are more likely to share gas-produced electricity before exports are possible • Greece hopes to eventually start its own gas production and act as a transit point • Landau: Israel’s discovery of gas could bolster security. The Associated Press and Is...
29 March, 2012:
'payment instrument' for Greece
Polish central bank governor suggests 'payment instrument' for Greece Greece may need a special currency arrangement within the euro region to adjust its economy, Polish Central Gank Governor Marek Belka told Financial Times Deutschland in an interview. “I’m not advocating forcing...
29 March, 2012:
Greek-Cypriot-Israeli ’energy axis’
 Three countries agree to enhance their cooperation, but have not yet signed a memorandum By Chryssa Liaggou Greece, Cyprus and Israel agreed on Wednesday to deepen their energy cooperation, but stopped short of signing a memorandum to seal their agreement. The discovery of considerable ...
29 March, 2012:
Greece not 'out of woods' yet, says top EU official
Greece is making progress but is not out of the woods yet and this year will be decisive as to whether Athens can stay in the euro, a top EU official said on T...
29 March, 2012:
Greece not 'out of woods' yet, says top EU official
Greece is making progress but is not out of the woods yet and this year will be decisive as to whether Athens can stay in the euro, a top EU official said on T...
29 March, 2012:
Death of leftwing leader
The veteran leftwing leader Yiannis Banias died early on Thursday after battling a severe illness for several weeks.   Banias, who was born in 1939 in in Melissourgoi, near Arta, was active in the left since the 1960s and was interned during the junta on the island of Leros.   He l...
28 March, 2012:
Brussels raises obstacles to sell-offs
Commission objects to state subsidies to companies for sale and to splitting of ODIE All of Greece’s privatization projects are facing problems, except for that of the public stake in Hellenic Petroleum, the government and the European Commission concluded on Tuesday at a meeting in Athen...
28 March, 2012:
Gov’t plays down party clashes
‘Friction’ to be expected but reforms must progress, spokesman says As the two parties in the country’s fragile coalition administration continued to squabble over policy and other issues Tuesday, government spokesman Pantelis Kapsis sought to play down the disharmony while e...
28 March, 2012:
Late strikes sink APOEL
Karim Benzema and Kaka scored late goals to give Real Madrid an emphatic 3-0 win over APOEL Nicosia in the Champions League quarter-final first leg on Tuesday.   The nine-times European champions dominated the match at the GSP stadium but APOEL, the first Cypriot side to reach the l...
28 March, 2012:
Asmussen urges policy
ECB's Asmussen urges policy 'regime change There is a high risk that the country's adjustment programme derails without a "regime change" in policy implementation and a broader political consensus in favour of painful reforms, European Central Bank board member Joerg Asmussen said on...
26 March, 2012:
Troika returns, elections loom
EC, ECB and IMF to look at measures for 2013/14 as political uncertainty over upcoming polls remains   A technical team comprising officials from the European Commission, the European Central Bank and the International Monetary Fund -- collectively known as the troika -- is due in Athens on...
26 March, 2012:
Anglo-Greek shipping magnate tried to hide
How an Anglo-Greek shipping magnate tried to hide his fortune from his wife The full story of how an Anglo-Greek shipping magnate tried to hide up to £100 million from his wife by lying during divorce proceedings can be told for the first time. They were part of one of the cou...
26 March, 2012:
Eurozone debt crisis: Germany 'must let bailout fund grow'
European leaders have united to urge Germany to agree to boost the "big bazooka" bail-out fund this week amid fears that markets will turn against Spain, Ireland and Portugal without urgent support. Klaus Regling, head of the European Financial Stability Facility (EFSF), warn...
26 March, 2012:
Greece's Deputy Prime Minister Is Retiring
Greece's deputy prime minister, who made headlines by saying that ordinary citizens are just as responsible as politicians for his nation's economic crisis, announced Saturday that he will not seek re-election. An early election is expected in May, and Theodoros Pangalos, 73, a veteran social...
26 March, 2012:
ECB gives national central banks right to refuse collateral
The ECB has given the eurozone's 17 national central banks the power to ban the use of bank bonds underwritten by governments in EU/IMF bailout programs as collateral to get unlimited ultra-cheap loans, it said on Friday. The move is a thinly-veiled attempt to soothe the concerns of Germany's...
26 March, 2012:
Samaras sees links with Spain, Portugal
New Democracy leader Antonis Samaras returned from a trip to Spain and Portugal on Sunday, saying that Greece had two good friends in the Mediterranean countries and that all three had a “common fate and problems.” Samaras met Spanish Prime Minister Mariano Rajoy on Friday and Por...
26 March, 2012:
Turkey to reopen Halki seminary, Obama says
Turkey has decided to reopen a former Greek Orthodox seminary on an island off the Istanbul coast, according to a statement made by US President Barack Obama. “I am pleased to hear of his decision to reopen the Halki seminary,” the American President said after a meeting with Turk...
26 March, 2012:
Greece eurozone exit would be 'catastrophic,' Merkel says
German Chancellor Angela Merkel has said it would be «catastrophic» to allow Greece to exit the euro area, adding that keeping the debt-hit nation in the common currency zone was also a political decision, Skai reported Monday. "We have taken the decision to be in a currency ...
26 March, 2012:
Olympiakos hit magnificent seven
Olympiakos Piraeus have all but put both hands on this season’s Superleague title, after steamrolling over Asteras Tripolis on Sunday, putting seven goals past them, Sakis Tsiolis’s men taking an early two goal lead, but doing little else beyond that, to stop the red and white onsl...
26 March, 2012:
Turkey to return another minority property
Turkey’s Minister for European Affairs Egemen Bagis announced here over the weekend that the Turkish government will return yet another property previously seized by the state from a religious minority, in this case the Galata school, operated for 126 years by the ethnic Greek minority i...
23 March, 2012:
APOEL will enjoy Real tie no matter what happens
Nicosia club president Phivos Erotokritou reveals the team's secret By Spyridoula Spanea Back in 2008, a few glasses of whisky helped Phivos Erotokritou decide to take over at APOEL Nicosia soccer club from the then president Kyriakos Zivanaris. Almost four years later APOEL is among the eigh...
23 March, 2012:
Companies cut salaries by 20 percent
The labor market is undergoing a huge shift after the reduction of the minimum wage, with many companies proceeding to salary cuts by up to 20 percent since February 14 through individual contracts with their employees, according to data collected by the Labor Inspectors’ Squad. Data sh...
23 March, 2012:
Gov’t pushes reforms ahead of snap polls
Cabinet approves taxi drivers' bill as legislation fast-tracking investments is tweaked The Development Ministry is tweaking an ambitious piece of legislation aimed at attracting investments and accelerating those that are pending due to bureaucratic hurdles, it emerged on Thursday as a contro...
23 March, 2012:
More Turkey trade good for Greece, Babacan
Turkey’s Deputy PM Ali Babacan says Greece may benefit from more investments and business with Turkey as its other neighbors do not appear to be promising trade partners More trade and investments with Turkey present the only path for Greece to save its future, Deputy Prime Minister Ali ...
23 March, 2012:
Greece Brings Crowdfunded, Face-Filled Billboard to Times Square
A crowd-funded campaign is placing a giant billboard in Times Square Friday, urging tourists to visit Greece. The billboard, which is designed to highlight Greece’s beauty, was organized by volunteer group “Up Greek Tourism” on crowd-funding platform LoudSauce. The campaign r...
22 March, 2012:
EU - Support for Greece
EU provides hands-on expertise to help Greece return its economy to growth and job creation. Early in 2010, rising government debt and budget deficits triggered a crisis of confidence in the euro. The market turmoil centred on Greece, which investors believed was in danger of defaulting on its u...
22 March, 2012:
Greece making inroads on deficit
Greece is already managing to beat some of its deficit-reduction targets, as figures show that its central budget deficit for the first two months of 2012 has shrunk by more than half compared with the same period last year. The state budget deficit - the amount the government spends against ...
22 March, 2012:
New Democracy leads in latest poll, with 22.5%
The new parliament would see the leading party without an overall majority and up to eight parties crossing the three-percent threshold, according to a poll published on Wednesday.   The poll on voter intentions, carried out by VPRC and published in the weekly Epikaira magazine, puts New...
22 March, 2012:
Sachinidis appointed new FinMin
Alternate Finance Minister Filippos Sachinidis on Wednesday took over the top spot at the ministry, following the resignation of Evangelos Venizelos to lead Socialist PASOK, and was to have his first official briefing with Prime Minister Lucas Papademos at 5.30 p.m. following a swearing-in cer...
22 March, 2012:
RES power share grows
By Chryssa Liaggou The share of renewable energy sources (RES) in electricity production in Greece more than doubled within five years, climbing from 2.1 percent in 2006 to 5.2 percent last year, according to a survey by ICAP that will be presented on April 5. Photovoltaic systems saw their ...
21 March, 2012:
Greece’s financial position improves
Greece went on the market on 20 March and borrowed €1.3 billion in the sale of 13-week T-bills at a lower interest rate, in the first debt paper auction after the application of the Private Sector Involvement (PSI) exercise and the reduction of the country's overall debt by €106bn. ...
21 March, 2012:
New plan targets battered city center’s rejuvenation
International competition for central Athens revamp set to begin By Dimitris Rigopoulos The Onassis Foundation is due to launch an inte...
21 March, 2012:
Greece to sell major listed companies this year
Betting monopoly OPAP, refiner Hellenic Petroleum to go under hammer by May Greece will put two major listed companies, betting monopoly OPAP and refiner Hellenic Petroleum, up for sale by May to boost a much-delayed privatisation plan and help cut the country's debt, its chief privatisation o...
20 March, 2012:
Tour operators call for PR campaign in UK
HATTA, the Hellenic Association of Travel and Tourist Agencies, in cooperation with three UK tour operators and travel agencies, those being ABTA (Travel Association), AITO (Association of Independent Tour Operators) and FTO (Federation of Tour Operators) have sent an open letter to the Gre...
20 March, 2012:
Acropolis Museum marks Indepedence Day
Marking Independence Day, the Acropolis Museum in Athens will open its doors from 8 a.m. to 8 p.m. on Wednesday, March 25, while admission will be free of charge. The day will also celebrate the return to display of the Parthenon’s 32nd metope, originally situated on the ancient site&rs...
20 March, 2012:
Loss of VAT revenues costs billions
 Central bank governor’s report sees tax collection mechanism worsen while evasion increases By Prokopis Hatzinikolaou and Sotiris Nikas ...
19 March, 2012:
Greece seeks to export solar power by 2015
Greece is seeking to export power generated by solar panels before 2015, Manager Magazin reported, citing Energy Minister George Papaconstantinou. In the coming weeks, the country will adopt legislation to simplify permitting and aims to connect its first 300-megawatt plant by the end of 2013...
19 March, 2012:
No ferry services on Monday, Tuesday
There will be no ferry services on Monday or Tuesday due to a 48-hour strike called by seamen and dockworkers. The strike called by the Panhellenic Seamen’s Federation (PNO) is in protest at the government’s austerity measures. The PNO confirmed that it would go ahead with the acti...
19 March, 2012:
Venizelos gets more than 97 pct of vote to become new PASOK chief
Finance Minister Evangelos Venizelos was expected to meet with Greece's premier on Monday to tender his resignation from the post following his election as PASOK chief on Sunday. More than 230,000 Socialist party supporters flocked to polling stations -- set up in city halls, cafes, even gas ...
19 March, 2012:
Greek finance minister takes charge of socialist party
With general elections due to take place as early as 29 April, Venizelos's selection as leader of what has traditionally been the country's biggest leftist force is seen as key to political stability Barely a week after negotiating the largest sovereign debt restructuring in history, the Gre...
15 March, 2012:
Greece is preparing for elections
The focus in Greece shifts on politics and party campaigning ahead of the snap election.  On Sunday Evangelos Venizelos emerged as the only candidate to head the Socialists, after two rivals failed to garner the necessary support. New Democracy leader Antonis Samaras in a speech that open...
15 March, 2012:
MITT welcomes Central Region of Macedonia
Greece as event sponsor This year, MITT (Moscow International Travel and Tourism) is pleased to welcome the Region of Central Macedonia as the event sponsor for the 19th edition of the largest travel and tourism exhibition in Russia. The event takes place from 21st - 24th March 2012. Dionysis...
15 March, 2012:
Support for Greece's main parties remains low - poll
    ATHENS (Reuters) - Support for the two parties backing Greece's technocrat Prime Minister Lucas Papademos remains low as leftwing, anti-bailout parties gain ahead of elections expected in late April or early May, a poll showed on...
15 March, 2012:
Greek restructuring delay helps banks as risks shift
By Yalman Onaran Delaying Greece’s debt restructuring by more than a year reduced banks’ potential losses as firms trimmed their holdings and most of the risk shifted to European taxpayers. &?nbsp; When Greece was first rescued by the European Union and the International Mone...