Latest News from Greece

Bad weather leaves northwest town powerless


Large parts of the town of Ioannina, in northwest Greece, were left without electricity on Wednesday morning after snowfall in mountainous areas and heavy rains that hit the region led to disruptions in the operations of the Public Power Corporation's local network.

Stormy weather expected in northwest, central Greece


The Hellenic National Meteorological Service (www.hnms.gr) on Wednesday issued a warning of a shift in warm weather starting in the northwest of the country with rain, thunderstorms as well as snow in mountainous areas.

Kremlin threatens gas supplies to Southeast Europe

Kremlin threatens gas supplies to Southeast Europe

Several nations receive Russian gas via Ukraine. In other business news: Albania's credit rating sees improvement and Turkey's military spending surpasses Canada.

The EU says Russia should not politicise its contractual shipments of gas. [AFP]

IBM to open new center in Athens for big data analytics


International technology giant IBM is moving ahead with the creation of a new corporate data analysis center in Greece, aimed at providing solutions and strengthening the competitiveness of companies active in the country as well as the broader region.

Supermarket chains sense worst is yet to come


By Dimitra Manifava

Supermarket chains in Greece fear that the worst is yet to come for the sector, expecting the price war to escalate to such an extent in the next few months that some will be forced to shut down completely or be bought out cheaply by their competitors.

Cost of borrowing via T-bills drops to pre-bailout levels


By Sotiris Nikas

The yields of the 13-week treasury bills Greece auctioned off on Tuesday returned to levels not seen since before the country asked for a bailout in 2010, declining to 2.45 percent from 3.10 percent in March in a sure sign that the successful five-year bond issue last week has set T-bill rates on a new basis.

Eurobank reaps major investor interest


 Fairfax, Capital Research and Management, Wilbur Ross, Fidelity, Mackenzie and Brookfield to get shares

By Yiannis Papadoyiannis

PASOK plays down coalition row over scheme for homeless

PASOK remained tight-lipped on Monday about a row that broke out with its coalition partner, New Democracy, late on Monday after Prime Minister Antonis Samaras announced the creation of homeless shelters without consulting with the Socialist party.

Fundamental contradictions

The deep division running through the ranks of the country’s main opposition party regarding the euro and how Greece’s negotiations with its partners and creditors ought to be carried out is very dangerous indeed.

The crisis which continues to be felt by both Greece and the entire European Union demands responsible and serious political and economic decisions.

Greece's new public sector wage structure ready in September


A new wage structure for civil servants will be ready in September, Administrative Reform Minister Kyriakos Mitsotakis said on Tuesday.

The new scheme will contain financial incentives for public sector workers who meet productivity targets but will also mean wage reductions for some.

Release for 2 more guards detained after Kareli's death


Two more guards from Nigrita Prison who had yet to face a prosecutor in connection to the deadly torture of inmate Ilie Kareli were released on Tuesday after giving their depositions.

One of the two was bailed, the other was granted unconditional release.

May strike at private schools


Teachers at private schools in Greece are to stage a rare strike on Wednesday, May 14, followed by work stoppages on May 21 and 22 at junior and senior high schools only.

European Parliament polls about stability, says PM


Prime Minister Antonis Samaras presented New Democracy’s candidates for the May 25 European Parliament elections on Tuesday and unveiled the conservative party’s main strategy for the upcoming electoral contest, which will be to argue that a vote for SYRIZA will put Greece’s economy recovery at risk.

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