Greece and the economic crisis 2017
NEWS ARCHIVE - Oct 9 - Oct 16
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October 16, 2017
"Prime Minister Alexis Tsipras has insisted that growing confidence in the country's stability will open the floodgates on investments, but the evidence of that happening is so far scant. Gross fixed capital formation was stagnant in 2016, and grew just 2.7 percent in the first half of this year."
All Bets Are Off for Greece Needing More Financial Support - Hellenic Shipping News
“There’s no political appetite for another program, either in Athens or among creditors, but the Eurogroup will want to keep Greece on a leash to ensure its loans are repaid and that the government keeps reforming, so the question is what’s the best arrangement to achieve that,” said Mujtaba Rahman, managing director of Eurasia Group, a consulting firm in London.
Greece eyes November timeframe for bond swap, sounds out investors - Reuters.com
"It is seeking to create 4 new, benchmark size bonds, replacing 20 separate issues with a face value of around 32 billion euros (28.54 billion pounds). The move would smooth out maturities and add depth to a currently shallow market."
Church bells ring in protest of Greece's gender rights law - Premier UK
"The Orthodox Church said in a statement that the change in law was "a satanic deed" and would lead to "the destruction of social cohesion and the spiritual necrosis of man".
Greeks over the age of 15 will now be able to change the gender listed on their identity cards and other official documents following a simplified procedure in court."
ECB could provide support for Greece by buying NBG bonds - bankers - Times of India
"Several other Greek lenders are expected to issue covered bonds in the next few weeks which should also be eligible for the euro zone central bank's bond-buying scheme. The ECB has so far refused to buy government debt issued by Greece which has been bailed-out three times by its euro zone peers.
The ECB is not believed to have bought any of the NBG bonds in the initial public sale, but banking sources close to the deal say it may do so after evaluating the credit."
October 14, 2017Greece: Joint air force drills with Cyprus, Egypt, Israel - Fox
"The island's Greek Cypriot President Nicos Anastasiades said there will be no let-up in efforts to reunify Cyprus, despite July's collapse of peace talks with breakaway Turkish Cypriots."
IMF Not Asking Greece for More Fiscal Measures - Greek Reporter
"Greece will successfully meet the primary surplus target of 2.2% of the GDP, which is the target the IMF had set for 2018, [IMF’s European Department Poul Thomsen] said."
Greece’s public sector employees earn 38% more than private sector workers - Keep Talking Greece
"The wage difference between private and public sector workers is at 300 euros net salary per month.
According to SEV research, private sector employees receive an average monthly salary of 77o euros net, while public employees receive 1,075 euros."
Germany renews border checks with Greece and Austria - cobess.com
"Germany extended temporary passport controls on its border with Austria and for flights departing from Greece."
Two former GNTO officials get suspended sentences - Kathimerini
"The two women were arrested in August 2012 after they were found to have demanded 2,500 euros from a businessman in Pieria... "
Tsipras: Common points of our foreign policy with the US - liberal.gr
"It is clear that the US, given its interest in stability in the region, as well as our extremely important defense cooperation - including Souda - have a special interest in working in this direction. We are at a time when the foreign policy goals of Greece are in common with the US strategy in the region..."
Acropolis Dusk and Night
October 13, 2017Greece eyes November timeframe for bond swap, sounds out investors - Reuters
"...It is seeking to create 4 new, benchmark size bonds, replacing 20 separate issues with a face value of around 32 billion euros (28.54 billion pounds). The move would smooth out maturities and add depth to a currently shallow market."
All Bets Are Off for Greece Needing More Financial Support - Bloomberg
"Officials directly involved in the country’s bailout say they don’t have the stomach for another strings-attached aid program when the current one expires in August 2018. Worn out after seven years of endless cliffhanger negotiations, both Athens and its European creditors are keen to turn the page. That said, Greece needs to show it can go it alone while Euro-area creditors have to be sure they can recover their money."
October 11, 2017U.S., Russia in extradition tug-of-war over bitcoin fraud suspect in Greece - Reuters
"...Judges ruled last week that he should be extradited to the United States, a decision Russia criticized as unjust and illegal and which Vinnik is challenging at Greece’s supreme court."
Self-employed may get more time for 2016 contributions -fff
"Although the Single Social Security Fund (EFKA) issued a circular clearly stating that the deadline for last year’s contributions is November 30, Deputy Minister Tasos Petropoulos said it was possible an extension up to early 2018 would be granted."
Another win for Belgium, Greece heads for World Cup playoffs - Yahoo
''We have rebounded from a bad spell and we are back in form,'' said Greece captain Vassilis Torosidis, who opened the scoring in the 32nd minute, meeting a cross from Carlos Zeca with an athletic header.
Greek, Turkish jets engage in mock dogfights - eKathimerini
"In total, 10 Turkish F-16 jets – four of them armed – and two CN-235 transport aircraft entered Greek national airspace 30 times."
'I feel like I'm going crazy:' Migrants in Greece are attempting suicide and suffering from other mental health issues at alarming rates - Business Insider
"More than 13,000 migrants and refugees, mostly Syrians and Iraqis fleeing years of war, are living in five camps on Greek islands close to Turkey, government figures show.
Four of those camps are holding two to three times as many people as they were designed for."
Greece passes new legal gender change law - MSN
"Citizens over the age of 15 will now be able to change their gender with a court ruling and without requiring a medical operation."
Greece’s Battered Banks Start the Return to Bond Markets - wsj.com
"Greece’s National Bank launched a bond Tuesday, the first time a Greek lender has tapped international credit markets in three years, when the country came close to exiting the eurozone."
October 10, 2017Greece: Joint air force drills with Cyprus, Egypt, Israel - Fox
"Greece's defense minister says plans are being drawn up for joint air force drills with Cyprus, Israel, Egypt and other European countries as part of efforts to bolster stability in the eastern Mediterranean."
Over 5% of TAP pipes in Greece are in the ground - tornosnews
"[TAP Country Manager Katerina Papalexandri] announced the project is well within schedule and on track in all three Northern Greek Prefectures..."
October 9, 2017Greece debates bill on legal gender change, divisions laid bare - Reuters
"Greece currently requires persons who wish to have their desired gender legally recognized to be diagnosed with “gender identity disorder” and have their reproductive organs removed. This practice has been widely condemned as a violation of human rights though is common in many European countries."
Greek PM prepares for US trip on October 17 - eKathimerini
"Prime Minister Alexis Tsipras is preparing to address a host of crucial issues in his meeting with US President Donald Trump at the White House on October 17, Kathimerini understands, most pressing among which is the stance that the International Monetary Fund will assume on Greece’s third bailout as well as bilateral cooperation in the area of defense. "
President Pavlopoulos stresses Greece΄s role in Eurasia and China - Capital GR
"Greece supports regional integration schemes in the wider Eurasian region, which can contribute to the peace, growth and prosperity of the peoples," he stated, adding that "it encourages and strengthens all efforts that promote a strategic link between the countries of Europe and Asia in key areas for the economy, such as energy, trade, transport, digital online collaboration, new technologies and tourism."
NEWS ARCHIVE - October 2017
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