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Greece and the economic crisis 2016

NEWS ARCHIVE - Dec 1 - Dec 7

December 7, 2016

Rioters in Greece are attacking police with Molotov cocktails - Business Insider

Video report:

"On the 8th anniversary of Alexandros Grigoropoulos' death, rioters took to the streets to express their frustrations. Grigoropoulos was shot and killed by a police officer in 2008."

More Coverage:

Molotov cocktail attacks - Iefimerida

Greece Implodes: Molotov cocktails and fireworks hurled at police - UK Express

Coalition perturbed by implications of decisions taken at Eurogroup - eKathimerini

"The Greek official [Tzanakopoulos] claimed that during the Eurogroup, Thomsen put more pressure on Greece to adopt extra measures in order to maintain the 3.5 percent primary surplus after 2018 rather than on the eurozone to provide further clarity on the medium- and long-term debt relief measures it plans to roll out from 2018 onward.

The government spokesman was adamant that the coalition would not agree to the adoption of any new measures in order to meet the 3.5 percent primary surplus target after 2018."

In Greece’s tobacco culture, passive smoke a serious problem - Washington Post

"Nearly two-thirds of Greeks are inhaling someone else’s tobacco smoke on a daily basis, making Greece the worst nation in the European Union in exposing people to the health risks of passive smoking.

The European Union’s statistical office Eurostat said Wednesday that 64.2 percent of Greeks suffered daily exposure to tobacco smoke indoors."

Schauble: Measures inevitable if Greece is to stay Eurozone - Protothema

"German Finance Minister Wolfgang Schauble said that imposition of harsh measures by the Greek government was “an inescapable road from the moment Greece decided to remain in the Eurozone”, during a speech at the EcoFin meeting in Brussels."

December 6, 2016

Greece turns from Sisyphus into Hercules - Reuters

"Some hefty tasks remain. Greece plans to privatise 6 billion euros of state assets. But in 2016 it only notched up 500 million euros. More onerous is the demand for a fiscal surplus, before interest payments, of 3.5 percent – something almost no European countries have managed for long. Greece, and lender the International Monetary Fund, say it can’t be done. Germany disagrees."

Greece to extradite three Turkish soldiers - In Cyprus

"The court ruled that the thee pilots should be returned to Turkey to stand trial for three of the four crimes they are accused of by Turkey, but not for attempting to kill Erdogan, lawyer Stavroula Tomara told Reuters.

The pilots have appealed the ruling at the country’s top court, she added."

December 5, 2016

Short-term debt relief approved by Eurogroup but tough measures loom - eKathimerini

"...The measures agreed to on Monday include the extending of maturities on certain loans and freezing the interest rate on some debt that could be susceptible to future interest rate hikes."

Two dogfights over Aegean between Greek and Turkish fighter jets - Protothema

"A pair of Greek F-16 fighter jets engaged in a double dogfight over the Aegean Sea, when two Turkish fighter jets violated Greek air space between the islands of Lesvos, Samos and Chios, Monday. The Turkish pilots were forced to retreat, after entering Greek air space in the morning hours of Monday, when they were intercepted by the Greek fighters that took off from the Skyros airport."

Greece tries to convince European creditors it's met targets - Fox

"Greece's finance minister [Euclid Tsakalotos] is trying to convince his counterparts in the 19-nation eurozone that his country has delivered on the reform promises made in return for the bailout money that saw off bankruptcy and a potential exit from the euro."

Greece gets short-term debt relief from eurozone - Yahoo

"Among the measures offered were a smoothing of some of Greece's repayment profile in order to prevent debt repayment humps on the way and a waiving of an interest rate increase that was due to take effect next year.

The measures have been seized upon by the Greece's left-wing government, which has been losing support according to opinion polls, as evidence that it's getting something in return for all the tough economic medicine that it's been making the country take."

Greece rejects extradition of Turkish servicemen over coup - Washington Post

"Officials say a Greek court has refused to extradite the first three of eight Turkish servicemen who fled to Greece after the failed July 15 military coup.

All eight helicopter crewmen deny charges they participated in the coup and in a plot to assassinate Turkish President Recep Tayyip Erdogan. "

December 4, 2016

Greece must reform or leave eurozone, says German minister - Reuters

"Greece must implement economic reforms if it is to keep its place in the eurozone, Germany’s finance minister has insisted, ruling out debt relief for the country ahead of a crucial euro group meeting on Monday.

“...Athens must finally implement the needed reforms,” he told the newspaper Bild am Sonntag in an interview published on Sunday.

Greece sees final solution on debt crisis amid euro uncertainty - Reuters

"Euro zone finance ministers will meet in Brussels on Monday to discuss short-term debt relief for Greece, and Germany's Wolfgang Schaeuble said it must implement reforms instead of hoping for further debt forgiveness.

Greece remained optimistic for a final debt deal, however, just as Italians are voting on a constitutional referendum on Sunday and a victory for the opposition 'No' camp may push the euro zone towards fresh crisis."

Tired of Syriza, Greece embraces a mainstream party - Economist

It has been a miserable year for Mr Tsipras and his left-wing Syriza government..... In May, after much squabbling, it pushed through €1.8bn of tax increases needed to qualify for the next chunk of cash in its current bail-out package from the EU, the third since the euro crisis began in 2010. In November Mr Tsipras reshuffled his cabinet...

...This is hardly what Mr Tsipras promised when he took power in 2015, vowing to end austerity and renegotiate Greece’s deal with its creditors. Syriza’s popularity has been sliding while that of New Democracy, which led a coalition government in 2012-15, has risen. It has led in the polls since December 2015, according to pollsters at the University of Macedonia. This month it was ahead of Syriza by a whopping 15 percentage points.

December 3, 2016

How 2016 in Greece Is Like 2014 — and How It’s Different - WSJ

"...some people have started wondering whether 2016 is a rerun of 2014.

Greece’s government is rushing to conclude negotiations with its international creditors on the second review of its bailout, which includes a tough package of labor market overhauls."

Greece targets trial return to markets in 2017, full return in 2018: Deputy PM

"Greece aims to make a trial return to capital markets in the first half of 2017, which will pave the way for a full market return in 2018 when its program ends, Deputy Prime Minister Yannis Dragasakis said on Saturday.

In an article published in newspaper Efimerida ton Syntakton, Dragasakis urged Greece's official lenders to make a positive assessment of the country's bailout progress at a meeting of euro zone finance ministers on Monday and send a "message of hope to the Greek people and Europe as a whole".

December 2, 2016

After Turkish provocations, EC calls on Ankara to respect member states- eKathimerini

"On Wednesday, Turkish Foreign Minister Mevlut Cavusoglu said that the eastern Aegean Imia islets are “Turkish soil,” while a few days earlier the leader of the Turkish Republican People’s Party (CHP) Kemal Kilicdaroglu urged the Turkish government to “take back” 18 islets in the Aegean Sea.

The Greek Foreign Ministry had described the comments by Cavusoglu as “irresponsible and provocative” and a violation of international law."

More Coverage

Turkey doubles down on Imia provocation with new statement - Protothema

debt-related measures and IMF’s involvement in the programme are included in Eurogroup’s official agenda - Capital GR

"As mentioned in the agenda highlights, ‘depending on the progress achieved in the context of the second review, the Eurogroup may return to the issue of debt-related measures and the IMF’s involvement in Greece’s programme’."

American School of Classical Studies investigating deviant burials at Faliro - eKathimerini

“Those who met with a violent death may have been foreigners or locals who were killed for political or legal reasons. We can learn where they came from and who they were connected to. There are also 350 children’s graves that allow us to learn about the lives of infants and children,” says Buikstra.

“In general, we can assess the state of health of the Phaleron people, their ailments and their lifespan,” adds the scientist."

Reducing pensions and exempt surplus of 3.5% requested by the IMF - Ta Nea
NBG hires Goldman, Morgan Stanley on sale of insurance unit - Reuters

"Greece's second largest lender National Bank (NBG) has hired Goldman Sachs and Morgan Stanley as advisors on the sale of a stake in its insurance subsidiary National Insurance, banking sources close to the procedure said on Thursday."

Disabled Greeks protest as more austerity looms - Ledger-Enquirier

"Protesters in wheelchairs carried black balloons while deaf demonstrators wore white gloves as they used sign language to join chants of anti-government slogans.

Disabled groups are seeking exemptions from budget austerity measures imposed under the country's international bailout agreements."

Greece makes formal request for return of Venus de Milo - Neo Kosmos

"The Greek island of Milos is issuing a formal request to have the Venus de Milo statue, one of the most famous in the world, returned from the Louvre Museum in Paris to its original homeland.

“Our island’s treasures have been looted and we’re finally ready to fight to win them back,” said the island’s mayor Gerasimos Damoulakis in a formal announcement."

December 1, 2016

One dead and five injured in powerful blast in Athens - Protothema

"A 38-year-old womaan was killed and five others were injured after a powerful explosion occurred at a fast food store of the “Everest” chain located on Victorias Square, in Athens, Thursday just before 9.30am."

December 5 EuroGroup not expected to bring total agreement - Protothema

"The Director of the International Monetary Fund (IMF), Christine Lagarde is not expected to take part in the December 5 EuroGroup meeting, according to an EU source, which portends an overall agreement on the Greek issue is not imminent."

Ceiling to be forced on 70,000 pensioners - eKathimerini

"Effective as of June 1, 2016, the new maximum level is set at 2,000 euros gross (or 1,767 euros net) for each individual pension and 3,000 euros gross for each retiree’s total income from pensions."



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