Greece Gets EAS Deal, 1B Euros Coming

An EAS worker makes adjustments to a missile
An EAS worker makes adjustments to a missile

The Eurozone working group of finance chiefs has ok’d release of a delayed one billion euro ($1.37 billion) installment from international lenders after a deal was reportedly reached on a modified plan to pare down the money-bleeding Hellenic Defense Systems and as the government said it would go ahead with lifting a ban on foreclosures with protection for the most vulnerable.

The government said it would also extend a cut in the Value Added Tax (VAT) on restaurants from 23 to 13 percent without permission of the Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB.) The reduction was put in place during the summer to help tourism but the lenders want it put back.-

Greece won some of what it wanted on EAS, which the Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB) wanted sold off or shut down as it loses money and critics said has been used as a dumping ground for political patronage hires for decades from Prime Minister Antonis Samaras’ New Democracy Conservatives and his coalition partner, the PASOK Socialists.

The proposal for EAS foresees the retention of three factories to produce military equipment, with the remaining two closing in June and September next year. There will be a resolution of the section of the company responsible for civilian projects and it will also be stuck with the illegal state aid that EAS had received so far.

Some 500 workers will remain at the company, with more than 300 being bought out at a cost of six million euros, about $8.26 million. The original plan had foreseen less than 350 workers remaining at the company.

The Greek government said it’s committed to EAS generating revenues of 13.5 million euros ($18.59 million) from exports next year, rising to 20 million the year after. If the company is not making a profit by the end of next year, it will be downsized further.

Agreeing the future of EAS was the last “prior action” remaining for the Eurogroup to approve the release of the delayed July installment for one billion euros. Athens hopes that the European Stability Mechanism will release the money on Dec. 19.

No word on how the other disagreements will be settled though as Greece, taking a stronger stance as it looks as if a primary surplus will be reached, is set to continue the VAT reduction without the Troika’s blessing and to lift the mortgage ban with protections in place for the most vulnerable, said to be 85 percent of those in default.

It was reported that homes with a taxable value of under 180,000 euros (as opposed to the current 200,000) won’t be repossessed if the owners have an annual household income of less than 25,000 euros. Otherwise, banks will take their homes.


  1. The fake “Grease” Never-Never land is closing, fast and steady! The same fake “Grease”, a fake country which only a couple of years ago seemed far from the ‘Arab Spring’ is now joining the club of the most retarded of Baklava Republics so quickly that any kind of spring for them seems light years away…

  2. There is no deal.The insinuated EAS “deal” is just a proposal made by the Greek government and had not yet being accepted or approved by the EU.The Troika is coming back in January .Why all this false reporting from the Greek media?I would be surprised ,if Greece gets any money released on Thursday.

  3. Prime Minister of FYROM “My Country is not related to Alexander but only Greeks” “We Live in a lie made by Soviet Propaganda”

    The Reporter who interviewed him almost started crying when he heard the truth in his face –

    European DNA studies have been done extensively. It shows that Greeks/Italians are brother countries with around a 30-40% DNA match. Bulgaria/FYROM are Brother countries with around 40-60% DNA Match Turkey/Mongolia are Brother countries with around 40-60% DNA Match

    The SLAVIC people who entered FYROM came to the country ONE THOUSAND Years after the fall of the Makedon Kingdom to the Romans. After the Fall, the Makedons spread out over Greece in such places as Athens, Sparta, islands and this is when the idea of a Greek Nationality and people came to be. When the Slavic Barbarians Came there was no such thing as a Pure Macedonian.

    You live in a Lie, only people who believe this lie are FYROM’ian Rats. NOBODY believes you idiots, you keep repeating a lie hoping it will make it truth . . but instead of choosing a small lie which would be OK, you made it a MASSIVE Lie which is imspossible.

    You are a Joke Nation, when time Comes Greeks will invade FYROM because you have declared War on Greeks. When the time comes we will murder you all, we will let the ALbanians Live, This new country will be Called Greater Albania(Albnaia+Fyrom)

    Over 45% of your country is already Ethnic Albanian, in 20-30 years even if no War happens, it wll be around 70%

    Your language is 100% bulgarian, a Bulgarian and FYROM’ian can have a conversation without any problems.

    You are Bulgarians.

    You Dirty Gypsy Bulgaroskpopians have invented a country that never existed before WW2 . stupid motherfuckers

  4. As I have said before Ted, Greece will always get whatever it wants as the troika are always willing, it seems, to backpedal when the crunch comes. Greece has always backpedaled on what they agreed to get the money & they just know theres no way the troika are going to dump them. Greek politicians are far cleverer than many people seem to think especially the stupid troika. Greece may hold the trump card but at what cost? Homeless Greek people.

  5. Don’t make me laugh.1 billion n solves nothing,it is just peanuts that changes nothing.Greece will be trough with these money in few days and crying back for more in less than 1 month.The point is,Greece is being kept on a drip feed with the minimum amount of money needed to keep it alive,but without solving any of the fundamental economical problem it faces.430 +1 billion debt,pension funds bankrupt by 2015,unreformed system of patronage etc etc. Your politicians are not smart,they are just making the best of a bad situation.

  6. Just another prediction of yours that did not come to pass.
    Didn’t you say NO MORE MONEY for Greece??

  7. These money are not for Greece,Einstein.They go straight to the German and France banks,ha ha ha ha.Where is your third bailout,Troll?

  8. Are you deflecting from the fact that you said NO MORE MONEY FOR GREECE???
    No new aid,no debt write-down??
    Another prediction eh??
    Let see…I will be reminding you of this one too malako Tedi the Am-turd ahahnahahaha!!!

  9. Your estimate are too optimistic! Swiss banksters from Lombard Odier estimated the bulk of fake-Greex “bad debt” at 875% of their GDP ( if accounted the result is some €2000 BILLION of debt! No one mentions that.) , which means that to meet its obligations the country would have to invest – without any foreseeable returns – an amount exceeding its GDP by a factor of 8.75.

  10. Greece has blocked Skopia’s entry into both the EU and NATO and will continue to do so. Your pseudo Skopian state will remain a poverty stricken Balkan backwater, until it’s finally dissolved by the separatist demands of it’s exploding ethnic Muslim Albanian minority. Muslim Albanians already launched a violent rebellion against Slavic rule in 2001.