Council of State

Unveiling the government’s plan to push forward a delayed overhaul of the civil service on Monday, Administrative Reform Minister Kyriakos Mitsotakis said the public sector has shed 200,000 employees over the past four years, reducing the state payroll for civil servants by 8 billion euros.

The Elliniko development will open to the public in three years’ time, with work starting in 2015 when Lamda Development pays its first installment to the state for the coastal plot, privatization fund TAIPED told a press conference on Thursday.

“The added value for the country is huge,” TAIPED head Constantinos Maniatopoulos said.

Photo from a March 2013 protest by bondholders.

The Council of State, the country’s highest administrative court, on Friday rejected an appeal by Greek bondholders seeking compensation for having to accept a severe haircut on the value of their investments in the debt restructuring that took place in March 2012.

Government officials resumed stalled negotiations with troika envoys on Monday in a bid to reach an agreement on the economic reforms that Greece must implement to secure further rescue funding.