The Greek cabinet approved a draft bill spelling out reforms required by the EU and the IMF on Friday, taking Athens closer to getting a new 130 billion-euro bailout after the prime minister warned the alternative was “catastrophe”. All eyes will now be on parliament, which is scheduled to vote on the bill on Sunday. [...]
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Papademos Says He Will Remove Dissenters Because Default Would Bring Misery
ATHENS – Facing a growing mutiny in his shaky coalition government against austerity measures demanded by international lenders in return for a second bailout to keep Greece from going bankrupt, interim Prime Minister Lucas Papademos has told any dissenters they’ll be fired unless they support him. With time fast running out to save the bankrupt [...]
ASE: Nervous Breakdown in Athens
The involvement of the Eurogroup Thursday and overwhelming domestic political developments forced serious losses in the Athens Stock Exchange on Friday, with the General Index, however, maintaining a positive sign and the weekly “contact” with the 800 units. The trading began with pressures in the “aftermath” of the treatment applied by European partners to Greece, [...]
S&P:Greece Retroactive CAC Would Constitute Selective Default
Standard & Poor’s Ratings Services said today that under its ratings criteria, application of retroactive “Collective Action Clauses” (CACs) affecting the timing or amount of debt service payments on outstanding Greek-law governed sovereign debt would constitute a selective default. Were such CACs implemented, Standard Poor’s would lower the sovereign credit rating (the issuer credit rating) [...]
Greece Must Decide: In or Out of the Eurozone
ATHENS – With international lenders continuing to withhold aid until the Greek Parliament ratifies austerity measures agreed on by the country’s shaky coalition government, Finance Minister Evangelos Venizelos said the country now has to decide whether it wants to stay in the Eurozone of the 17 countries using the euro as a currency or return [...]
Canadian Firm Interested in Searching for Gold in Village Near Paphos
Canadian Northern Lion Gold Corp. is awaiting the corresponding approval by the Vancouver Stock Exchange to proceed with signing a six months agreement with six women from the village of Armino, in Paphos, Cyrpus. The agreement will allow the Canadian company to search for gold in the tract of land belonging to the six women, [...]
Wolfgang Schaeuble Told MPs Greek Plan Short of Target
German Finance Minister Wolfgang Schaeuble told conservative lawmakers on Friday that existing Greek reform pledges would not bring its debt down to levels that are considered sustainable, sources who attended the meeting said. “Schaeuble said the current plans would leave Greece short of the goal of cutting debt to 120 percent of GDP by 2020,” [...]
Samaras on Bailout Deal: Elections Are Now Imperative
New Democracy party leader Antonis Samaras emphasised on Thursday evening that “the country never had a greater need for elections than it has today.” Speaking during a nationally televised address, Samaras noted that “we struggled to avert a worse recession and we avoided the worst,” while he again insisted on the need for development measures [...]
Greek Pensions Saved But Minimum Wage, Health and Defense Hit Hard
ATHENS – After divisive talks, Greece’s coalition government has agreed on a plan to make more deep spending cuts to stave off default, but the deal means although pensioners could be spared, the country’s already-wracked health care system will be hit, along with the once-sacred cow of defense spending, which could fall by as much [...]
Euro Ministers Cautious on Greek Bailout Deal
The chairman of the meeting of eurozone finance ministers says Greece has to identify an extra €325 million in savings for 2012 in order meet the terms of a much-needed bailout. Jean-Claude Juncker said Thursday the Greek parliament will also have to pass the full package of cuts and reforms on Sunday and party leaders [...]
Jean-Claude Juncker: Eurozone Not Ready to Unlock Greek Bailout
Eurozone finance ministers warned Greece on Thursday that they are not yet ready to unlock a new debt bailout despite an agreement between Greek political leaders on new austerity cuts. Luxembourg prime minister, Jean-Claude Juncker, arriving to chair Brussels talks among the 17 governments in the Eurogroup, said there were too many “points to clear [...]
“Anonymous”: New Video Addresses the Greek People
With their brand new second video message, “Anonymous” strikes again; this time by directly addressing the Greek people. After they had recently hacked into the website of the Ministry of Justice and caused some turmoil, “Anonymous” retaliated in a 10 minute long “address” towards the Greeks, pointing out among other statements that the “economic killers [...]
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02 / 11 Cabinet Approves Debt Deal After PM Warns of ‘Chaos’
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02 / 10 Papademos Says He Will Remove Dissenters Because Default Would Bring Misery
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02 / 10 ASE: Nervous Breakdown in Athens
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02 / 10 Greek Pirate Party Enters Greek Political Life
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02 / 10 Former President of Macedonian Studies Association Passes Away
Calendar – Exhibits, Concerts, Fun
- Lecture on Human Values by Academic Helene Glykatzi-Arhweiler February 8, 2012
- 3rd Annual Greek Shipping Forum to Be Held in Athens February 8, 2012
- 11th Athens Xclusive Designers Week in March February 7, 2012
- Australian Embassy in Athens Celebrates Australia Day February 4, 2012
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