News archive of May 2019

Kretsos embarrasses government after new luxury yacht cruise is revealed

Straight on the heels of the political uproar over PM Alexis Tsipras' August, 2018, Ionian cruise on the yacht of the Panagopoulos shipping family, the daily Ta Nea revealed that his deputy digital policy minister Lefteris Kretsos took his own luxury cruise in the Saronic Gulf.

Cyprus' communist-rooted former president critically ill

Cyprus' health ministry says the country's former president Dimitris Christofias is in a critical condition in hospital with respiratory problems.
In a statement Monday, the ministry said Christofias was admitted to Nicosia General Hospital's transplantation unit on Saturday.

Hotel, restaurant hirings boost labor market

Expectations of another good year in tourism are illustrated by developments in the domestic labor market as recorded in the April hirings data of the Ergani database and the employment figures of the Manpower Organization (OAED).

New poll puts ND lead at 6.3 pct versus SYRIZA

Main opposition New Democracy is 6.3 percentage points ahead of ruling SYRIZA, according to an opinion poll carried out by ALCO for broadcaster Open and published on Monday.
The poll found that ND would garner 29.9 percent of the vote if snap polls were held now compared to 23.6 percent for SYRIZA, with socialist KINAL and neo-Nazi Golden Dawn both coming in third with 5.7 percent.

NBG’s new NPL reduction scheme

National Bank of Greece's new program aimed at settling nonperforming housing loans provides for a more aggressive approach to the management of its bad-mortgage portfolio, including debt write-offs.

Tsakalotos attacks handout critics as austerity fans

Finance Minister Euclid Tsakalotos on Monday dismissed officials who have expressed concern over the government's handout policy ahead of the elections - including the head of the European Stability Mechanism, Klaus Regling - as "austerity supporters," although concerns are also being raised by others much closer to home, at the Parliamentary Budget Office (PBO).

ATHEX: Stocks start election week with losses

Coca-Cola HBC and National Bank suffered significant losses in Monday's bourse session at Athinon Avenue, which saw its benchmark begin the election week with a drop that is incongruous with the wait-and-see attitude usually adopted by investors during such periods.

Juncker ‘proud’ to have kept Greece inside the euro area

European Commission chief Jean-Claude Juncker has once again claimed credit for helping keep Greece in the euro area against the wishes of several member-states after the country was hit by a brutal financial crisis.