Greek News
Economy
Greek Deputy FinMin: Banks Will Reopen on Monday
Greek Deputy Finance Minister Dimitris Mardas said on Friday that all banks will open on Monday, offering a wide range of services, although a 60-euro daily cash restriction will remain.
In a radio interview, Mardas said that banks will be able to...
Culture
Dodoni Theater Reopens After 17 Years to Host Aeschylus' Poetic Masterpiece
Greek mythology's undisciplined titan Prometheus challenges the power of Olympian gods, giving mankind fire stolen from Mount Olympus. His punishment and suffering will be relentless at the hands of Zeus. Prometheus will be chained and abused in a Caucasus mountain.
Aeschylus' poetic...
Greece
The 8 New Faces of the Greek Government: Tsipras Reshuffles Cabinet
Greece's SYRIZA-ANEL coalition government announced a cabinet reshuffle on Friday, changing faces at eight key posts.
The mini-reshuffle came after thirty-eight SYRIZA lawmakers did not support Prime Minister Alexis Tsipras' proposed bailout deal in the Greek Parliament vote on Wednesday. Tsipras accused his MPs, among them three ministers who voted...
Greece
Greek Government Announces Cabinet Reshuffle
The Greek government announced a cabinet reshuffle on Friday evening, after multiple delays.
The new administration is the following:
– Prime Minister: Alexis Tsipras
– Government Vice President: Giannis Dragasakis
– State Ministry: State Minister Nikos Pappas, Transparency Minister Panagiotis Nikoloudis, Government Work Coordination Minister Alekos Flabouraris, Deputy...
Environment
Wildfires Spread Across Greece
At least six wildfires broke out across Greece on Friday, July 17. The first large-scale fire occurred in Laconia, Peloponnese, where firefighters are still trying to get the situation under control using land vehicles and Canadair aircraft.
More than two...
Economy
Nobel Prize Winning Economist Stiglitz Meets With Greek Govt Officials
Former World Bank chief economist and Nobel Prize winner Joseph Stiglitz expressed his serious concerns over the economic rationale behind Greece's rescue agreement during his meetings with Greek government officials in Athens on Friday.
He reassured, however, that both he and a...
Economy
Eurobank to Take Over Alpha Bank Branches in Bulgaria
Eurobank, one of Greece's biggest banks, will take over the business of another major Greek bank, Alpha Bank, in the neighboring Balkan country of Bulgaria.
Eurobank's subsidiary, Postbank, will buy the Bulgarian branches of Alpha Bank's subsidiary, Alpha Bank Bulgaria.
Postbank will reportedly take...
Economy
ECOFIN Approves €7.1-Billion Bridge Loan to Greece
The Economic and Financial Affairs Council (ECOFIN) approved a 7.1-billion-euro bridge loan to Greece on Friday.
The loan will be given through the European Financial Stabilisation Mechanism (EFSM) and is meant to finance Greece’s short-term obligations, including a 3.5-billion-euro bond payment to...
Economy
ESM Approves Commencement of Greek Bailout Deal Negotiations
The European Stability Mechanism (ESM) Board of Governors decided on Friday that it approves -in principle- a loan program for Greece. This effectively means that the institution agrees that negotiations on the bailout deal should begin.
The three-year cash-for-reforms program will give Greece...
Greece
Greek PM Tsipras Calls on Citizens to Remain Calm After Wildfires Spread
Wildfires are quickly spreading across Attica, Laconia and Halkida due to strong winds, while the fire department is attempting to bring the situation under control. Meanwhile, the Greek Prime Minister Alexis Tsipras visited the Pentagon where he was informed...
Economy
German Parliament Approves Greek Bailout Deal Negotiations
The German Parliament authorized the German government on Friday to engage in negotiations for a European Stability Mechanism bailout program for Greece.
439 lawmakers voted Yes, 119 voted No and 40 abstained. 50 lawmakers from German Chancellor Angela Merkel’s CDU/CSU coalition...
Greece
Turkish Fighter Jets Violate Greek Airspace, Again
A formation of Turkish fighter jets violated Greek airspace a total of 20 times on Wednesday before being chased off by Greek aircraft, according to a Kathimerini report.
A total of six Turkish fighter jets flying in formation entered Greek...
Greece
Two Fires Break Out in Athens
While the Greek Fire Department has been battling a wildfire in Peloponnese, two more flaming fronts broke out in Kareas and Koropi, Athens.
The large-scale fire in Karea broke out near Vyronas and is currently moving towards Ymittos mountain. Despite...
Economy
IMF's Christine Lagarde: 'Greek Plan Not Viable Without Debt Haircut'
The IMF is willing to participate in the next Greek bailout program, provided that the Eurozone allows a debt haircut or restructuring, so that the debt becomes sustainable and the country can receive market financing, said the fund’s Managing...
Economy
Greek Banks Will Not Open on Monday After All
"The Finance Ministry and the Bank of Greece examine all possibilities and technical details so that banks can open as soon as possible," says a finance ministry announcement, thereby negating previous reports that Greek banks will open on Monday.
Only...