With international loans pouring in and talk of Greece being forced out of the Eurozone – a so-called Grexit – ceased, the country’s slow rebound from a crushing economic crisis should earn it the moniker Grecovery, Bank of Greece Governor George Provopoulos told a seminar organized by the central bank with the participation of European [...]
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Economist Says Greece Doing OK
What a difference a year makes, especially for Greece. That’s how the financial magazine The Economist has characterized the country’s slow recovery, although with caution that it came at a heavy social price in joblessness and human misery. Greece has performed better than expected, but still has much to do,” according to the article Up, [...]
IMF Heading Back To Athens
The International Monetary Fund, one of Greece’s Troika of lenders, will send a team to Greece early in June for talks with Greek authorities and the bailout partners, the European Union and European Central Bank, following a meeting of the IMF executive board to discuss a review of Greece΄s program. “The executive board is expected [...]
Greece Will Hire 75,000 Young
Desperately trying to slow the slide of record unemployment – now at 27 percent and with some analysts predicting it could hit 30 percent – Greece is planning to hire 75,000 young people, but not until January, 2014, Labor Minister Yiannis Vroutsis said. Nearly two-thirds of those under 25 are without a job during a [...]
Samaras Backs Away From Golden Dawn
Facing pressure from his coalition partners to get behind an anti-racism bill aimed at curbing the neo-Nazi Golden Dawn party, Prime Minister and New Democracy Conservative leader Antonis Samaras will meet with them on May 27. PASOK Socialist chief Evangelos Venizelos and Democratic Left (DIMAR) head Fotis Kouvelis, who almost always yield to whatever Samaras [...]
Simitis Won’t Appear In Tsochatzopoulos Case
The Athens Appeals Court hearing the trial of former Defense Minister Akis Tsochatzopoulos for money laundering has rejected his request for the former members of the Government Council for Foreign Affairs and Defense (KYSEA), including ex-Prime Minister Costas Simitis, to appear as witnesses. The court said that the testimony of Simitis, who co-signed defense deals [...]
Big Pay For Alpha Bank Execs
Despite a law that says no private banker can be paid more than the head of the National Bank of Greece, eight executives at Alpha Bank, the country’s third largest lender, were paid above the legal maximum permissible for bankers, documents published by the lender suggest. According to the prospectus published to announce a share [...]
Samaras Will Follow Ireland’s Lead
After meeting his Irish counterpart Enda Kenny in Athens on May 23, Greek Prime Minister Antonis Samaras said Greece could use the Irish model for getting out of an economic crisis. Like Greece, Ireland needed the help of international lenders and imposed hard austerity measures. But, unlike in Greece, the Irish didn’t protest, go on [...]
Political Feud Holds Up Anti-Racism Bill
Greece’s coalition government is sharply divided over an anti-racism bill that is aimed at controlling the neo-Nazi Golden Dawn party by imposing stricter penalties for assaults, primarily on immigrants, of which the extremists have been accused but which it denies. Prime Minister Antonis Samaras, the New Democracy Conservative leader, reportedly is going to meet with [...]
German Party Likes Greek Euro Exit
A new German anti-euro party says that the currency is to blame for Europe’s unemployment woes and that Spain and Greece should quit the euro as a way to return to economic health, even though Greek Prime Minister Antonis Samaras said he has the country on the road to recovery and that it should stay [...]
French Say Lagarde List Tax Collector
Disputing former Greek finance minister George Papaconstantinou’s assertion that a list of 2,062 Greeks with $1.95 billion in secret Swiss bank accounts he received in 2010 from then French finance chief Christine Lagarde was “unofficial and confidential,” French authorities said it was designed to be used to help find tax cheats. Papaconstantinou is now being [...]
Greeces Hopes OPAP Sale Speeds Privatizations
Greece Prime Minister Antonis Samaras said the sale of gambling monopoly OPAP shows that Greece is serious about making reforms as a condition of rescue aid. The deal, which will give Czech-Greek consortium Emma Delta a 33 percent stake in the gambling monopoly, will bring in 712 million euros, about $915.48 million. “It is important [...]
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Calendar – Exhibits, Concerts, Fun
- Crete Hosts Talks On Ancient Novels May 23, 2013
- Velos Mutiny Honored in Special Ceremony May 23, 2013
- Contemporary Theatrical Adaptation of Homer’s Iliad May 22, 2013
- A Greek Portfolio at The Benaki Museum May 22, 2013
