Latest News from Greece

Deputy PM meets with bank heads, liquidity dominates talks

Deputy Prime Minister Giannis Dragasakis met with the board of Hellenic Bank Association on Wednesday to discuss the liquidity of the bank sector, the contribution of banks in the fight against tax evasion and the improvement of public revenues collection as well as the more efficient use of development actions.

Greece's OTE Q1 net profit drops 27.6 pct

May 13 Greece's biggest telecoms operator OTE posted on Wednesday a 27.6 percent drop in first quarter net profit, hurt by stricter tax treatment.

Greece slides towards recession in first quarter of 2015

The Greek economy returned to recession in the first quarter of 2015, according to data by the Hellenic Statistical Authority (ELSTAT) at noon on Wednesday. The figures show 0.2% recession. Simultaneously, the forecast for development has been cut to 0.3% as the European Commission in its spring assessment for Greece estimated 0.5% growth with the government expecting development at 1%.

The great Amphipolis sham! Just sawdust in our eyes…

Athens Archeological Institute head Vasilios Petratos said that the Amphipolis Tomb, last year’s top archeological discovery, was just a poorly staged play aimed at distracting the Greek people from the scorching hot austerity measures planned by the previous conservative New Democracy party.

Referendum not part of government's immediate plans, says Voutsis

Greece aims for a deal with its international creditors and has no plans for a referendum or early elections, the country's interior minister said on Wednesday.

"We are working towards an honorable compromise,» Nikos Voutsis told Mega TV. «An immediate recourse to a referendum or elections is not in our plans right now."

The woes of Greek real estate agents as investment drops

High-ranking real estate agents on Tuesday expressed their concern on the state of the property sector and lack of interest shown by foreign investors. At an event in Athens ahead of Prodexpo 2015 focused on real estate, National Pangaea CEO Aris Karytinos underlined the need to escpe from what he calls “a perfect storm”.

Banknote printer fortress advances amid Greek speculation

By Tina Davis & Christopher Donville

Fortress Paper Ltd., a printer of banknotes, rose the most in two years as a website said the company may have a contract with the Greek government.

Fortress gained 22 percent to C$3.78 in Toronto trading. The shares have climbed 65 percent this month.

German-Greek reconciliation bid languishes amid bailout impasse

By Birgit Jennen

A German government fund meant as a gesture of atonement for Nazi atrocities in Greece during World War II is languishing as the two countries spar over Greece?s future financing, German officials say.

Now or never! Top lawyers secret memo on Parthenon Marbles return

Daily Kathimerini reports that the Greek Radical Left Coalition (SYRIZA) government must decide whether it wants to take legal recourse for the return of the Parthenon Marbles from the British Museum. A confidential memo sent to the Ministry of Culture by three global lawyers of the Doughty Street Chambers encourages Greece to take the UK to court over the sculptures.

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