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, [...]
Tag Archives | EU
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 [...]
Samaras Vows War On Unemployment
As his government is getting set to shed 15,000 public servants over the next two years on the orders of international lenders putting up bailouts, Greek Prime Minister Antonis Samaras said his administration will bring down the country’s record 27 percent unemployment rate by attracting foreign companies to hire Greeks without jobs. “We have consolidated [...]
Greece Will Sell Troubled Proton, Postbank
Two of Greece’s shakiest banks, Hellenic Postbank and Proton, will have to be sold by mid-July as the country’s largest banks continue gobbling up smaller institutions as part of plans to help the beleaguered economy begin to recover, envoys from international lenders have directed. Proton was taken over when it became insolvency in the wake [...]
Greece Recession Will Ease, Joblessness Won’t
Greek Prime Minister Antonis Samaras’ prediction that the country’s staggering economic crisis will start to abate and that a slow recovery will begin next year seems like, the country’s international debt inspectors said, but the record 27 percent unemployment rate will take years to come down and will probably stay above 20 percent for three [...]
Troika Anxious Over 2015-16 Fiscal Gap
With Prime Minister Antonis Samaras predicting a recovery for Greece’s economy as soon as next year, the country’s international lenders are more worried about 2015-16, saying the outlook is “inherently uncertain” and will be the focus of negotiations with the government later this year, the European Commission said. The Troika of the European Union-International Monetary [...]
EU Urges Greece To Up Asylum
The European Union has called on Greece to review its asylum policies, especially for Syrians fleeing “atrocities” in their country. Greece grants asylum to as few as 1 in 100,000 applicants and the government has been acting to purge the country of those in the country unlawfully. European Commissioner for Home Affairs Cecilia Malmstroem told [...]
EU OK’s $9.72B In Greek Loans
Greece got better news than expected when a meeting of Eurozone finance officials reportedly agreed to approve the release of two loan installments totaling 7.5 billion euros, some $9.72 billion, sources told the newspaper Kathimerini. Finance Minister Yiannis Stournaras was at the meeting. The paper said that the okay came early on as the meeting [...]
Greece Eyes Loans, Samaras Heading To China
On a roll, the Greek government is hoping that Eurozone officials on May 13 will approval release of more loans as Prime Minister Antonis Samaras readies for a five-day trip to China beginning two days later in a bid to woo investment and tourists. Samaras, not having to worry about the same kind of social [...]
IMF Lauds Greece, But Cites Tax Cheats
The International Monetary Fund, one of Greece’s chief lenders, has released a report praising the country for using austerity to drive down its debt and deficit and increase competitiveness, but said that it’s still woefully short of fulfilling other reform, such as prosecuting tax chaets who owe more than $70 billion, and firing public workers [...]
IMF Says Greek Elite Still Protected
After an International Monetary Fund (IMF) report found that Greece was making progress in overhauling its public finances and competitiveness, the government was left to explain why there’s been little change in public administration and the failure to go after tax cheats. Writing at the end of a review of the Greek fiscal adjustment program, [...]
Cyprus Gets Loan Break From Russia
Despite tension that flared when Cyprus said it would confiscate up to 80 percent of the deposits in state banks over 100,000 euros ($130,000) which particularly hit Russian investors, Russia has agreed to to allow two more years for repayment on a 2.5 billion euros ($3.26 billion) loan and lower the interest rate from 4.5 [...]
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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
