Latest News from Greece
S&P's downgrades EU outlook to negative
Ratings Agency Standard & Poor’s has downgraded the European Union outlook from stable to negative, while affirming its AA+ credit rating. The downgrade reflects the agency’s assessment of the increased needs for financing EU member-states, including Greece.
Bloomberg: Greece will need new bridge-loan
Bloomberg believes Greece will most probably need a new bridge-loan in order to be able to pay off a payment to the ECB which is due August 20. Retaining Greece in the Eurozone does raise concern says the article in light of the country’s dismal finances and negative business sentiment.
Greek Deputy Minister for Social Security sues prosecutors
Greek Deputy Minister for Social Security Pavlos Haikalis has filed a law suit at the Supreme Court of Greece against the two prosecutors who archived his the case in December 2014. The case involved his alleged bribery in order to influence the outcome of the election of the President of the Hellenic Republic.
Krugman: Puerto Rico in far better position than Greece
Nobel laureate Paul Krugman writes in The New York Times that while Puerto Rico missed a bond payment, with many comparing it to Greece the two are very different cases.
Internet Security giants Kaspersky help restore Santorini Neolithic wall paintings
The Archaeological Society of Athens will have the technological support of Antivirus Internet security giants Kaspersky Labs, in their ongoing efforts to restore beautiful wall paintings in an archaeological excavation site at Akrotiri, on the island of Santorini.
Syrian migrants not here to stay, using ?zmir as transition point to Greece
The Aegean province of ?zmir is one of Turkey?s top tourist destinations, but it is now attracting a new kind of foreign visitor: Syrian migrants who have begun massing in the area before attempting to make a break for Greece across the water.
1.7 Million Bulgarians to Spend 2015 Summer Holidays at Domestic Resorts
Bulgaria remains the favorite summer holiday destination for Bulgarian tourists, be it mountain or sea resorts, according to Rumen Draganov, Chair of the Institute for Analyses and Assessment in Tourism.
Greek contingency plan aimed at corrupt German companies
Greece had a contingency plan to open corruption investigations into German companies so as to “raise the cost of rupture” for Greece’s creditors. The targeted companies included Siemens, Lidl and Allianz.
Greek stocks plunge 22 percent as bourse reopens
Greece's stock exchange reopened August 3 with a drop of more than 22 percent after a five-week shutdown imposed by the country's debt crisis and capital controls.
Greek minister promotes collaboration in international culture dialogue
Alternate Culture Minister Nikos Xydakis represented Greece in the international conference “Culture: an instrument of dialogue among peoples”, organized by Italy in the premises of the International Exhibition of the Milan Expo 2015. The conference had the participation of eight three countries and Xydakis had the opportunity to promote cultural partnerships.
Greek bailout talks: Corruption and privatization on the agenda
Greece and its creditors (EC, ECB, IMF and ESM) will focus on issues concerning corruption and justice on Monday. Government sources said that the issues are to be discussed at a technical staff level.
Turkey wins silver at U18 European Championship
Turkey lost in the final of the U18 European Championship 64-61 to hosts Greece in a hard-fought game on Aug. 2 that came down to the wire.
Bloodbath as ATHEX resumes trading after five weeks
The Athens Stock Exchange opened after a five-week suspension in Greece with the Athex Composite plunging to 20% at 615.12 when it resumed trading at 10.30 a.m. The falls are even steeper in financials with decreases as much as 30%. The full extent of the losses will be revealed after a few hours of trading.
PM wants fresh start with a “new” SYRIZA after snap elections in Sept.
Prime Minister Alexis Tsipras wants to wipe the slate clean after his string of broken promises and terrifying negotiations with Greece’s EU creditors.
Troika’s third bailout planted with explosive tax and labor mines
Huge changes to taxation and labor issues are on the “menu” in talks between Greek officials and representatives of Greece’s creditors from the European Commission (EC), European Central Bank (ECB) and the International Monetary Fund (IMF) joined by the European Stability Mechanism (ESM).