Economy Watch |

23062017Headline:

IMF reiterates need to lower Greece’s primary surplus target after 2022

Dombrovskis outlines EC’s plan for investments and employment in Greece
A targeted plan for growth and job creation is being developed in Greece and extraordinary measures to support investments are being introduced, European Committee Vice President Valdis Dombrovskis said [...]

PM Tsipras and French President Macron meet on European Council sidelines
French President Emmanuel Macron expressed satisfaction with the June 15 Eurogroup’s decision on Greece during a meeting with Greek Prime Minister Alexis Tsipras on the sidelines of the European [...]

Government VP reiterates possibility of Greece tapping markets in 2017

Economy
We want an out-of-court mechanism to succeed, Greek banks say
“We want this law to succeed,” Charoula Apalagaki, secretary-general of Hellenic Bank Association said on Thursday, addressing an event on the out-of-court mechanism to restructure corporate [...]
Economy
ECB lowers borrowing ceiling for Greek banks
European Central Bank’s governing board on Thursday did not object to a request by the Bank of Greece to lower the borrowing ceiling of the ELA mechanism for Greek banks by 600 million euros to 43.6 [...]
Economy
The new Patras port supports the development of the wider region, its CEO says
The construction and the operation of the commercial section of the new port of Patras will boost the development of the port as well as the wider region, the president and managing director of the Patras [...]

Economy
Reuters: Greek privatisation agency moves to settle case to help secure new loans
Greece’s privatisation agency took action on Wednesday to settle a legal case that could hold up the disbursement of vital fresh bailout loans to the deeply indebted country. Athens last week secured [...]
Economy
Dragasakis briefs EU ambassadors on Eurogroup outcome
Government vice-president Yiannis Dragasakis briefed on Wednesday the ambassadors of EU countries to Greece on the results of the last Eurogroup meeting, at the initiative of the Maltese ambassador. Dragasakis [...]
Economy
C. Mixalos: Proposal on business debt settlement plan is in right direction but changes needed
The government’s proposal for the out-of-court settlement of debt for over-indebted businesses is a step in the right direction but changes are needed to ensure as many businesses as possible will [...]

Hagia Sophia is of extreme importance, State Department spokesperson Nauert says

Politics
Tsipras, Mitsotakis congratulate Team Greece for reaching Eurobasket Women’s semi-finals
Prime Minister Alexis Tsipras and New Democracy leader Kyriakos Mitsotakis congratulated the women’s national basketball team for reaching FIBA Eurobasket Women’s semi-finals on Thursday. “Congratulations [...]
Politics
Mitsotakis criticizes Tsipras on municipal employees’ strike
New Democracy leader Kyriakos Mitsotakis criticized Prime Minister Alexis Tsipras on Thursday for the ongoing strike on municipal employees who were left without work following a top court ruling cancelling [...]

Politics
Tsipras: Left-Right distinction remains dominant political differentiation in Europe
The distinction between Left and Right remains the dominant political differentiation in Europe, Prime Minister Alexis Tsipras said on Thursday, according to government sources, addressing a preparatory [...]
Politics
PASOK leader Gennimata asks for partners’ commitment on debt relief
PASOK president Fofi Gennimata thanked again the European Socialists for their support to the Greek people upon her arrival to the PES meeting in Brussels. In her statement, the head of Democratic Alliance [...]

Team Greece crush rivals Turkey to reach semi-finals of Eurobasket Women 2017

Society
Municipal sanitation employees extend labour action until June 29
Municipal employees working in sanitation announced on Thursday to escalate their labour action, a decision that will worsen the situation in Greek cities where garbage piled up. Their union is protesting [...]
Society
Border police ‘lay down the law’ for Albanian …herb tea smugglers
Border police in Florina and Kastoria have arrested more than seven Albanian nationals in the last month for illegal smuggling in the Prespes region, confiscating more than 200 kilos of contraband goods. [...]
Society
Minister says village destroyed by earthquake in Lesvos will ‘become as it was’
A village in southern Lesvos flattened by a 6.1-magnitude earthquake that struck last week will become as it was, Infrastructure Minister Christos Spirtzis said on Thursday, during a meeting with local [...]

Society
Charges against former GenSec for Public Revenues Katerina Savvaidou dropped
An Appeals Justices’ Council on Thursday decided to drop all charges against the former general secretary for public revenues Katerina Savvaidou for attempted breach of trust, in spite of a public [...]
Society
Infrastructure Min Spirtzis visits Mytilene
Infrastructure and Transport Minister Christos Spirtzis will visit Mytilene on Thursday to chair a meeting on the next steps to address the problems of the earthquake that hit the island. At the same time, [...]
Society
Crew of cigarette-smuggling ship remanded in custody
The six Ukrainian crew members of the Tanzania-flagged freighter “Golendri” were remanded in custody on Wednesday, after testifying before a Piraeus prosecutor and examining magistrate. The [...]

Business
PPC, Larco sign energy supply contract
Public Power Corporation on Wednesday signed an electricity energy supply contract with Larco, covering the period January 1, 2016-December 31, 2020, after the two companies’ general shareholders’ [...]
Business
Hellas Gold to inaugurate Olympiada unit in September
Hellas Gold announced it will inaugurate its enrichment unit in Olympiada, Chalkidiki, in September 15 after completion of an 1.5-billion-euro investment project for the maintenance, repair, upgrading [...]
Business
Alpha Bank exits state guarantee scheme
Alpha Bank on Wednesday announced that, on 20.6.2017, it ceased using the guarantee scheme of the Hellenic Republic, in accordance with the provisions of article 2 of Law 3723/2008 (Pillar II), and has [...]
Business
International consortium named as preferred investor for Thessaloniki port
An international consortium comprised of the firms Deutsche Invest Equity Partners GmbH, Belterra Investments Ltd and Terminal Link SAS was on Monday nominated as preferred investor for a 67 pct share [...]
Business
Lavipharm reaches agreement on debt restructuring
Lavipharm SA announced it has reached an agreement with creditor banks on a restructuring of its debt worth 26 million euros. In an announcement, Lavipharm said the agreement envisages the extension of [...]
Business
OPAP opens new roads to entrepreneurship
A new chapter has been opened for the 20 companies participating in OPAP’s “Business Development” program. The first two months of the program, with seminars and strategic guidance from [...]