Greek News
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Staff celebrate paper’s anniversary
February 5, 2012, 5:35 pm
The 60th anniversary of the Athens News was celebrated at a small ceremony in the paper’s newsroom on January 27.
The birthday cake was cut by Stephanie Horn (photo), widow of founder Yannis Horn, who said that the newspaper survived so long thanks in no small part to her husband’s determination and stubbornness.
PSI awaits bailout deal
February 5, 2012, 5:03 pm
THE RECAPITALISATION of Greek banks with EU-IMF funds earmarked for the country’s second bailout remained to be decided on February 2 in ongoing hectic negotiations between the government, political parties and its official lenders that were expected to carry on over the weekend.
Following a week of punitive EU threats over Greece’s budgetary shortfalls, talks with private bondholders over a 50 percent writedown on the face value of their Greek (...)
Prison guards on alert after bill amended
February 5, 2012, 5:00 pm
WARDENS at Greece’s overcrowded prisons have been placed on alert after the government withdrew legislation for a major early release programme, fearing a collapse in the ruling coalition.
Inmates at several prisons held peaceful protests on February 1, triggering the alert. Justice Minister Miltiadis Papaioannou withdrew legislation that would ease parole eligibility of inmates serving sentences up to 20 years.
Households spared feared tax hike
February 5, 2012, 4:59 pm
GREECE’S deputy finance minister says tax values on property will not be raised this year, sparing struggling homeowners a hike in emergency taxes. Pantelis Ekonomou told parliament that the ministry had no intention of raising officially listed property values - in a move that follows protests by property developers and owners associations and drop in commercial property prices.
Tsipras calls for left coalition
February 5, 2012, 4:53 pm
"Greece deserves a different future. The Left must unite," Radical Left Coalition (Syriza) parliamentary group leader Alexis Tsipras said in an interview with the Italian newspaper l'Unita appearing on Sunday, adding the Left must seek the governance of Greece because the country needs a radical turn-about and the parties of the 'political establishment' are sinking together with the failure of the Memorandums.
Migrant-smuggling ring disbanded
February 5, 2012, 4:47 pm
An organised ring smuggling large numbers of non-legal immigrants from Greece to other countries of western Europe was disbanded by Greek police on Saturday and eight suspects were arrested while 113 non-legal migrants were detained.
Police, after investigations, arrested eight members of the ring as well as 113 non-legal immigrants, while an abandoned warehouse across the central vegetable market in Rentis, near Piraeus, where the smugglers used to hide (...)
Consumer confidence plunges
February 5, 2012, 3:39 pm
Rising unemployment, job insecurity and the deteriorating economic climate are driving confidence among Greek consumers to even lower levels, a recent survey shows. As Greece enters its fourth year of recession, most people have decided to spend less next year, do not feel financially secure and worry about losing their job.
The survey is conducted annually by the Boston Consulting Group (BCG) and includes 21 countries, with 25,000 consumers queried.
PSI doubts hit bank merger
February 5, 2012, 3:34 pm
THE BIGGEST Greek bank merger in 40 years appeared to be in jeopardy on January 30 when Alpha Bank raised questions about the impact of a revised writedown of Greek debt on its plan to join forces with EFG Eurobank.
“The bank intends to await the definite terms of the private sector involvement (PSI) before calling a general assembly to inform shareholders and make a decision,” Alpha Bank said in a filing lodged with the Athens Stock Exchange.
First debtor behind bars
February 5, 2012, 3:32 pm
STYLE means to redefine yourself” was the motto adopted by Lakis Gavalas SA at its inception. The man behind the motto finally succeeded in turning it into a reality in his own life.
Lakis Gavalas redefined himself from a fashion celebrity to a major debtor who is now sitting behind bars. On January 30, an Athens investigating magistrate ordered that Gavalas be remanded in custody pending trial for criminal charges over tax evasion.
Facebook’s daunting challenge
February 5, 2012, 3:28 pm
FACEBOOK aims to connect all two billion internet users. So far it has captured 845 million of them. Of the rest, nearly 60 percent live in Asia and hooking them is going to be a daunting challenge. A block on access in China, court cases in India and rivalry from other services elsewhere in the region stand between Mark Zuckerberg’s Facebook and more than 700 million users.
