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17th May 2018 – Greece Extends Hellenic Petroleum Deadline To 30th May

If you want to buy Hellenic Petroleum you now have until the 30th May to get your bid in!

Paneuropean Oil and the greek government have agreed to divest more than 50 percent of Hellenic Petroleum which is europes third largest oil refiner.

30th March 2018 – Greek Banks Show Signs Of Bad Debt Recovery

According to Greece’s central bank Greece’s banks are beating the targets set to recover from bad debts.   They are reducing their exposure to non-performing loans.

Greece’s biggest banks are not immune including Piraeus, National, Eurobank and Alpha.

29th March 2018 – Greece Wants More Money For Forced Fire Sale

Greece has been forced to sell off its public assets.   Greece’s gas privatisation agency says it wants more money from two bidders for 66 percent stake in gas grid operator DESFA.

Greece was forced by other Eurozone member countries to sell public controlled assets as part of international bailout money to enable Greece to keep paying its bills.

A previous bidder backed out and now two bidding consortiums for the gas supplier are Italy’s Snam Spain’s Engas International Belgium’s Fluxys and Spain’s Regasificadora del Noroeste Romania’s Transgaz plus European Bank for Reconstruction and Development.

Athens owns 31 percent and Hellenic Petroleum owns 35 percent making up the 66 percent for sale to highest bidder.

28th March 2018 – Euro Zone Bailout Fund Approves New Loans For Greece

The Eurozone’s bailout fund approved the loan of nearly 7 billion euros to Greece as part of the current bailout programme.   5.7 billion euros will be paid into Greece’s account today, the remainder on the 1st May 2018.

12th March 2018 – Greece To Receive Additional Bailout Money

The euro zone bailout fund will pay out another 5.7 billion euro loan to Greece in March after Eurozone countries agree to proceed.

6th March 2018 – Greek Taxi Drivers Protest Against Uber

Taxi drivers in Athens protested against the invasion” of Uber ride-hailing service that they claim is destroying their livelihood.   SATA, a taxi driver union, called a 9-hour strike against Uber and other ride-haling apps.

Many users of the apps are complaining about potential new regulations which could make the ride-haling services more expensive.

23rd February 2018 – Debt Relief For Greece Back In Focus

Technical work has begun to determine if Greece requires debt relief after its expected exit from a bailout programme in the summer, according to head of Europe’s rescue fund.   Investors could be asked to provide debt relief for Greece

“If debt sustainability requires additional debt relief, we are prepared to grant that provided Greece continues with its reforms.”   Klaus Regling, head of the European Stability Mechanism, the euro zone rescue fund.

8th February 2018 – Greece Unemployment Rate 20.9 Percent In November 2017

According to Greece’s ELSTAT statistics service Greece unemployment rate in November was 20.9 percent.

The Unemployment rate for 15 to 24 year old’s was 43.7 percent.

Unemployment rate in Eurozone is 8.7 percent.   I thought the Eurozone was a club that looked after its members!   According to a German newspaper, Germany is the worst country in Europe at complying with EU club rules.

21st January 2018 – Greece Says 15 Investors Interested In Coal-Fired Plants Sale

15 inestors have expressed an interest in buying coal-fired energy plants Greece needs to divest itself of to comply with European Union EU court ruling.

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