Public Power Corporation

A tragic accident on Good Friday at the village of Ano Amfeia (Thoiria) in Messinia, the Peloponnese,  resulted in the death of two young men, aged 23 and 26.

The general assembly of Greece?s Public Power Corporation on Friday approved the appointment of new governing board members, but the election of the new chief executive officer has been postponed until Tuesday.

Cash is drying up in the Greek market and this is being felt increasingly at the local bourse as well, as the benchmark saw all its Tuesday gains evaporate on Thursday on relatively low turnover.

A second day of significant gains for local stocks on Tuesday suggested that investors are fostering fresh hopes that Greece?s creditors have softened their stance and the country will see its cash crunch ease in the coming days, averting a feared default. Turnover dropped below 100 million euros again.

By Takis Theodoropoulos

The local stock benchmark?s streak of losses may have been broken, but Tuesday?s early gains of 3 percent had been whittled away to less than 1 percent by the end of the session, as traders? political and economic expectations appeared to crumble.

Early losses at the Greek bourse were followed by an attempt at a rebound which was quickly snuffed out by sellers on Monday, leading the benchmark to end up in the red again. Trading volume continued to shrink, with investors avoiding any commitment to local securities as they still fear the worst.

By Stathis Kousounis

The popular island of Santorini is expecting another bumper tourism year by extending the season across more months, say Mayor Anastasios-Nikolaos Zorzos and local hotelier association President Manolis Karamolegos.

The chairman and chief executive officer of Public Power Corporation, Arthouros Zervos, tendered his resignation on Wednesday after the Council of Appeals Court Judges in Athens decided to send him to trial in connection with excessive pay rises granted to 19 senior PPC officials in 2010-12 which cost the company more than 150,000 euros.

A Council of Appeals Court Judges in Athens decided on Wednesday to send the chairman and chief executive officer of Public Power Corporation, Arthouros Zervos (photo), to trial in connection with excessive pay rises granted to 19 senior PPC officials in 2010-12 which cost the company more than 150,000 euros.