Greece and the economic crisis 2018
NEWS ARCHIVE - Jan 13 - Jan 19
January 19, 2018
"Amid signs of a possible breakthrough, with new talks this week in New York between Greek and Macedonian negotiators, Greek nationalists plan to protest this weekend against any deal allowing Macedonia to use the name."
National Bank has eliminated its dependency on ELA funding - Capital GR
"According to sources the bank has not only managed to wean itself off costly ELA funds but already has surplus liquidity to draw on if liquidity conditions in the market deteriorate."
January 18, 2018Greece closing in on end of bailout years - Fox News
"A senior EU official ... said Thursday that eurozone finance ministers meeting next week had "a great willingness to say that, basically, nearly everything had been done" to complete its latest bailout review..."
"Negotiators from both sides met in New York on Wednesday at a meeting held by the U.N. mediator on the issue. Shortly after the talks, the Macedonian government said the outcome would depend "on the willingness to compromise on both sides."
Banks strengthened but remain vulnerable - Naftemporiki
"In 2018, banks are being asked to adapt to new challenges, mainly by applying new accounting standards, tightening up the handling of forecasts for new Non-performing Exposures, and by undertaking a pan-European stress testing exercise by the ECB."
AP Explains: Macedonia-Greece name dispute goes back in time - Fox News
"The term "Macedonia" is a source of such nationalist fervor on both sides that the dispute has left the Balkan country without a universally recognized name and unable to join international institutions such as NATO."
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January 17, 2018Tourists reached 26 million in the January-September 2017 period - Athens News Agency
"...from non-EU-28 countries, travel traffic from Russia increased by 1.1% to 531 thousand travelers, while that from the US increased by 11.6% to 715 thousand travelers."
"He noted Greece΄s concern that there is a "clear distinction" between his country and the Greek region of Macedonia, saying it was important for his country that there are no doubts as regards "matters of identity."
Surplus of 11.5 billion euros in the nine-month travel balance - Naftemporiki
"Overnight stays in Greece amounted to 188,272 thousand in January-September 2017, compared with 171,754 thou. in the corresponding period of 2016..."
January 16, 2018Piraeus Port Gets Ready To Welcome Mega Vessel - Greek Reporter
"At the start of January, Cosco — the Chinese-state owned shipping and logistics giant which also controls 80 percent of Greek rail cargo to central Europe — unveiled ambitious plans to expand at Piraeus. Cosco — which won a majority stake in the Piraeus Port Authority in 2016 — currently runs operations at Piraeus able to handle three 19,000 20-feet equivalent unit (teu) vessels with no draft limitation plus one 10,000-teu ship with a maximum draft of 13.8 meters (45 feet)."
In 'Macedonia' Name Dispute, Optimism In The Air - rferl
"At the forthcoming meeting, [UN mediator Matthew Nimetz] is expected once again to present the parties with a list of names that have been under discussion before, with only minor changes."
Greeks pay dear for mobile services - eKathimerini
"OECD data revealed this week that Greek mobile phone users pay much more for their service than the average European..."
After Years of Turmoil, Greece Is Close to Exiting Its Bailout - WSJ
"Athens hopes for post-bailout boost; program has been traumatic for citizens and strained the eurozone By Nektaria Stamouli Jan. 16, 2018 5:30 a.m. ET For Greece, there is finally light at the end of the tunnel. After nearly eight years of economic and political turmoil, the country is within striking distance of freeing itself from a bailout regime that has been traumatic for its citizens and has badly strained the eurozone."
Earthquake rattles Greece, felt in Athens - Straits Times
"The region has been active in recent days and the latest earthquake seems to be the peak of this activity, Papadopoulos said without ruling out the possibility of another earthquake. "Residents should remain calm," he said. "The data is in our favour."
Brief video report showing protestors (with comments from them subtitled in English) battling truncheon-wielding police.
Greece's Eurobank sees Balkan units doubling profitability -deputy CEO - IN
“Foreign operations contribute more than 50 percent of the group’s profitability. Our immediate target is to grow this to 200 million euros (from 110 million),” Deputy Chief Executive Stavros Ioannou told reporters."
Greece plans three new bond sales to build post-bailout buffer - Kitco
"It expects to get about 9 billion euros more from official lenders in the coming months to build up the buffer and plans to raise about another 9 billion euros from markets by issuing three new government bonds."
January 15, 2018
"In the nearly nine years since its descent into economic crisis, an estimated 50 general strikes have been held in Greece with workers viewing industrial action as sacrosanct. Under the new law, Alexis Tsipras’s leftist-led government has agreed that unions will have to have much larger quorums to enable strikes to be called."
New strikes in Greece as lawmakers debate new reform batch - ABC News
"Labor unions shut down all public transport in the Greek capital, while state-run schools and public hospitals also faced disruptions as teachers and doctors participated in work stoppages. Dozens of flights were being either rescheduled or cancelled due to a three-hour walk-out by air traffic controllers."
Greece to negotiate FREMM Frigate acquisition with France - navyrecognition
"According to Kathimerini, this move comes after a verbal agreement between Prime Minister Alexis Tsipras and French President Emmanuel Makron during his last visit to Athens last September. If an agreement can not be reached on the frigates because of their cost, the discussion will likely veer to the Gowind corvette."
The highest performance since 2001 with 143,535 new jobs in 2017 - AMNA
"In December 2017, there is an increase in wage employment in the private sector, as a positive balance of recruitment of 15,315 jobs is emerging. Specifically, according to the December 2017 employee employment figures, recruitment announcements amounted to 172,064 while retirements to 156,749."
Citizens to face foreclosures for debts over 500 euros to state - Protothema
"According to provisions in a report by the General Accounting Office, article 61 of the omnibus bill is amended regarding the classification of the State in case of compulsory foreclosures and seizures of movable or immovable assets..."