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Sep 24, 2011

GREECE News, Sep 24, 2011



Greece Faces EUR4.6B Shortfall In 2012 Deficit Target -IMF Staff
Wall Street Journal
IMF staff said in the report the fund is urging Greek authorities to keep two important considerations in mind when crafting new deficit-cutting measures. First, "we need a few easily monitorable, easily verifiable measures," staff said. ...
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Troika Seeks 100000 Greek Public Sector Layoffs By 2015-Report
Wall Street Journal
But with the consent of the troika, the government has also hired some 24000 new workers in the last two years to fill shortages in select areas of the public sector, the newspaper reports. Now, withGreece unlikely to meet its deficit targets this ...
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Greece on Edge of Insolvency 24 Centuries After City Default
Bloomberg
George Papandreou, prime minister of Greece, says throwing in the towel now would be a “catastrophe.” Photographer: Jock Fistick/Bloomberg History's first sovereign default came in the 4th century BC, committed by 10 Greek municipalities. ...
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Greece to make more cuts to fulfill bailout terms
Washington Post
Greek finance minister Evangelos Venizelos told Greece's parliament on Wednesday that “we are doing and will do whatever it takes. We won't put the country's fate at risk.” The new cuts will slash government pensions, extend a property tax hike and put ...
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Greece: J. Paul Getty Museum to return 2400-year-old Greek marbles
Washington Post
In recent years, the Getty has repatriated to Athens another four significant ancient Greek works, including an elaborate gold wreath that was allegedly illegally excavated in northern Greece. Copyright 2011 The Associated Press. All rights reserved. ...
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Greece considers euro referendum, report says - Euro crisis update
EUX.TV
Greek Prime Minister George Papandreou is considering calling for a referendum on membership of the euro zone. The EKatimirini newspaper in Athens reports today, Tuesday, that Papandreou hopes that the outcome of such a vote would constitute a fresh ...
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WORLD FOREX: Euro Lower On Italy, Greece, Yen Stays Firm
Wall Street Journal
Adding to the gloom was a report by Greek newspaper Kathimerini that Prime Minister George Papandreou is considering a referendum on whether Greece should exit the euro zone. But a Greekgovernment official, speaking to Dow Jones Newswires, ...
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Brazil stocks, currency fall on Greece concerns
MarketWatch
But stock indexes pared sharper losses Monday after late-day reports that international lenders were close to an agreement to ensure Greece received the next portion of its financial aid. Greek leaders on Monday held talks with European and ...
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Greek govt, betting monopoly agree gambling license deal -report
Reuters
AT) have agreed the outlines of a 1 billion euro ($1.37 bln) deal to extend the company's concession and award it new gaming licences, newspaper Kathimerini said on Thursday, without citing sources.Greece aims to extend OPAP's monopoly by 10 years and ...
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EU border police 'turning blind eye' to abuse of migrants in Greece
The Guardian
In a 62-page report on conditions in Greek asylum and detention centres, widely known to be disastrously dysfunctional, the organisation on Wednesday accused Frontex, the EU's external borders agency, of turning a blind eye to the torture, beating,...
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The Guardian
German financial minister: 2nd Greek bailout may have to be adapted after ...
Washington Post
By AP, WASHINGTON — Germany's finance minister says a second, €109 billion bailout package for Greece may have to be re-evaluated after implementation difficulties discovered by the country's debt inspectors. Wolfgang Schaeuble said Friday he would be ...
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Treasuries Gain on Greece Crisis; Two-Year Yields Drop to Record
BusinessWeek
19 (Bloomberg) -- Treasuries rose, pushing two-year note yields to a record low, as concern Greeceis heading for default spurred demand for the safest assets and sapped stocks worldwide. Yields on 10-year notes dropped the most in two weeks as Greek ...
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Greece faces 'Argentine crisis' if austerity package is blocked
Citywire.co.uk
According to reports, Papandreou and Venizelos warned the deputies of the consequences ofGreece not passing the latest austerity measures and therefore not qualifying for the sixth tranche of the EU/IMF loan (worth €8 billion) to avoid bankruptcy. ...
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ADR Report: Shares Lower Amid Concerns Over Greek Debt
Wall Street Journal
By Caitlin Nish Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York closed lower Monday, in line with the broader markets, amid another round of concerns about Greece's sovereign debt. The Bank of New York index of ...
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Greek default could be disaster for Portugal: PM
Reuters
Passos Coelho, whose government is rushing to differentiate Portugal from Greece in its efforts to meet the terms of its own bailout from the European Union and IMF, said the possibility of a Greekdefault could not be ruled out. ...
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Losing the default battle
Irish Independent
If they don't then Greece will default on its debt mountain, the equivalent of more than 150pc of GDP, within weeks. Even if the latest package of cuts persuades the EU/ECB/ IMF Troika to release the money, no one seriously believes that a Greek debt ...
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FTSE dented by Greek fears ahead of Fed
Reuters
Traders pointed to nerves surrounding Greece's next tranche of financial aid after talks with the European Union, European Central Bank and International Monetary Fund. Statements from theGreek government are expected after a cabinet meeting starting ...
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Business Highlights
CBS News
Private economists questioned whether the latest plan unveiled by the G-20 countries Thursday night went far enough to deal with market concerns that a Greek default is a virtual certainty and threatens to destabilize other highly indebted European ...
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Mid-Day Update: Stocks in Red as Greece Concerns Dominate; Commodities Lower
NASDAQ
Investor attention turned swiftly back to Europe as reports over the weekend indicated that the next installment of financial aid to Greece has been delayed until October. During the weekend, GreekPrime Minister George Papandreou's cabinet met to ...
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Doubt over Greece drags down Markets
Montreal Gazette
A report in the Athens News Tuesday suggested officials from the European Union, International Monetary Fund and European Central Bank will complete their review of the Greek economy early next month. There have been growing fears Greece will not be in ...
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Moody's Downgrades 8 Greek Banks
Wall Street Journal
"With a deeper-than-expected recession now forecast ... Moody's expects operating conditions to continue to exert significant pressure on banks' profitability and asset-quality metrics," the reportsaid. Moody's also noted "increasingly fragile" ...
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CORRECTED - CORRECTED-UPDATE 10-Oil slumps for second day as euro fears domi
Reuters Africa
A Monday conference call between Greece and its international lenders, also known as the "troika", appeared to produce some cause for relief, although officials said details of a deal would need to be worked out on Tuesday. Investors will now turn to ...
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Piraeus Bank Issues "Climate Change And Business" Report For Greece
CSRwire.com (press release)
19 /CSRwire/ - In the framework of the European co-funded under LIFE instrument climabiz project, run by Piraeus Bank in partnership with WWF Greece and Facets, a report titled "Climate change and Greek businesses: Risks and opportunities" was recently ...
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Why Greece Won't Reform
Wall Street Journal
Economist Stella Balfousia, the head of the Greek Parliament budget office, had to tender her resignation after her office published a report contradicting the government's official forecasts on debt and deficit. Privatization is a case in point. ...
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TEXT-Fitch report: The Euro area financial crisis
Reuters
... the approach adopted to 'private sector involvement' (PSI) in the 2nd Greek programme. The failure to deal decisively with Greece continues to erode confidence in the capacity of European institutions and policymakers to manage the broader crisis. ...
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Markets: Greece concerns send FTSE 100 south
Interactive Investor
"It's certainly been a tough start to the new trading week with markets selling off hard across the board, amidst these resurgent fears that the Greek default could now be imminent," said Ben Critchley, sales trader at IG Index. ...
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Interactive Investor
Greece tightens belt; IMF warns banks
Economic Times
"Risks are elevated and time is running out to tackle vulnerabilities that threaten the global financial system and the ongoing economic recovery," the IMF said in its Global Financial Stability Report. Officials said European governments are now ...
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U.S. stocks come off lows on Greece pact report
MarketWatch
By V. Phani Kumar NEW YORK (MarketWatch) -- US stocks sharply narrowed losses in late trading Monday as a news report that Greece was close to reaching a deal with interntional lenders helped ease worries of a default that had hammered equity markets ...
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The USD appreciated against the EUR
FXstreet.com
Good morning from Hamburg and welcome to our second last Daily FX Report in this week. After the resumption of the discussions between Troika and the Greekgovernment concerning the disbursement of further financial assistance to Greece, first positive ...
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FXstreet.com
Greek Statistics Chief Denies Inflating 2009 Debt Woes
Wall Street Journal
Under the terms of that aid, Greece overhauled its statistics service and made it an independent agency free from Greek government control. The government was also forced to make savage cuts in spending that have deepened the country's recession and ...
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Greek Hopes Temper Wall Street's Retreat
Fox Business
Concerns over Greece, and its potential spillover to larger economies like Italy, have pressured markets for months. The markets came back somewhat, however, after a Greek official said it is close to a deal with European inspectors over making fiscal ...
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Latvia teaches austerity pain and gain to Greece
Reuters
"I work now in a greenhouse, and earn much more," she said. "In Latvia, I used to earn 120 lats per month, now I am getting 340 pounds per week." A recent Estonian Human Development report, which dealt with issues in the whole Baltic, ...
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Reuters
Can't Get away from Greece
FXstreet.com
by Phil Flynn - PFGBEST | View company's profile Global oil markets are falling as the Greeceproblem continues to weigh on market sentiment. Market odds put a Greek default at 98% and rising. The Wall Street Journal reported, "In Greece, ...
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Research and Markets: Greece Agribusiness Report Q4 2011 - Cheese Production ...
SunHerald.com
In July, Greek dairy manufacturer Olympus opened a new EUR55mn, 25000square metre dairy plant in Halciu, Romania. The plant will process milk, cheese and yoghurt for sale in Romania and also export to the US and Europe.
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German Government Econ Advisor:Greek Euro-Zone Exit A Disaster Report
NASDAQ
An exit by Greece would cause chaos for the Greek economy and financial system, the article cites Feld as saying. Feld says a debt restructuring in Greece is unavoidable, and he supports a plan for those holding Greek debt to exchange it for bonds ...
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German 2-Year Yields Below 0.5% a Third Day on Greek Loan Talks
Bloomberg
Yields on German two-year notes, perceived to be among Europe's safest securities, dropped toward a record low as Greece's biggest private and public sector union groups called strikes against austerity measures. Ten-year bunds were little changed ...
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Report Came From Greek News Agency | ForexLive
The talk around Greece came after a Greek news agency reported that the Troika will meet in early October. There still seems to be ... New York London GMT Tokyo Sydney ... 6 Responses to “ReportCame From Greek News Agency”. verik on ...
ForexLive
All The Latest News On Greece
By Simone Foxman
All The Latest News On Greece. Simone Foxman | Sep. 23, 2011, 10:23 AM | 676 |. A A A ... TheGreek government subsequently denied the veracity of this report. - G20 leaders made .... Active Users on BI right now... Click for more live stats » ...
Business Insider
ekathimerini.com | Greece set to announce more austerity measures
EU finance ministers agreed on Saturday that European banks must be strengthened in the follow-up to July stress tests as an EU report said a ”systemic” crisis in sovereign debt now threatened a newcredit crunch. A Barclays Capital note ...
ekathimerini.com : Latest News
A Greek tragedy: How the debt crisis spread like a virus in ...
By Mallory Simon, CNN News blog editor
More than a year ago, Michael Shuman, writing on Time.com, told how this script played out in the Asian financial crisis of 1997, and how Greece might be the latest sequel. ... In the same way that riots in England have been blamed on economic hardships, reports out of Greece show the once carefree residents are getting "more depressed by the day" with depression and suicide rates growing. ... "And until now, there wasn't clarity." ... Post by: CNN news blog editor Mallory Simon ...
This Just In
XE.com - Greek govt, betting monopoly agree gambling license deal ...
The Greek government and the country's sports betting monopoly OPAP have agreed the outlines of a 1 billion euro ($1.37 bln) deal to extend the company's concession and award it new gaming licences, newspaper Kathimerini said on Thursday, without... ... citing 'well-informed sources'. ($1 = 0.730 Euros). (Reporting by Harry Papachristou; Editing by Hugh Lawson) Keywords: GREECEOPAP/PRESS. (harry.Papachristou@thomsonreuters.com)(+30 210 33 76 455 or +30 6949 440 ...
XE Forex News
Backlash in Turkey Against Cyprus Offshore ... - Cyprus News Report
By Sarah Fenwick
But Turkey's threats have been challenged by a new Eastern Mediterranean alliance comprised ofGreece, Cyprus, Israel and Russia, all of which said they will defend the island's sovereign right to exploit its natural resources according to the ...
Cyprus News Report - Fast-breaking...
Greek PM cancels U.S. trip as debt crisis deepens - Yahoo! News
Read 'Greek PM cancels U.S. trip as debt crisis deepens' on Yahoo! News. ... Greece's Prime Minister George Papandreou addresses the audience at the ... The conservative opposition NewDemocracy party, which voted against the bailout ... from the European Central Bank, EU and IMF would report back on progress in ...
news.yahoo.com/greek-pm-cancels-u-trip-report-143642150...
Markets volatile as investors await Greece news, New Zealand ...
News that Greek Prime Minister George Papandreou will hold a teleconference with French ... ____. Elaine Kurtenbach in Shanghai contributed to this report. ... Register now on http://www.yallabid.com/ and start winning! ... Latest from Markets ...
en.news.maktoob.com/20090001052816/.../Article.htm
Greece announces new austerity measures - CTV News
A Greek government official says Greece will suspend more civil servants than originally planned and impose new ... CTV National News with Lisa LaFlamme ...
www.ctv.ca/.../greek-finance-minister-concedes-more-austerity...
What Will Happen If Greece Defaults ... - U.S. News & World Report
US News & World Report Politics. Home ... But markets now seem to think that a Greek default is inevitable, and the ramifications will be ugly. "Europe is going to ...
www.usnews.com/news/.../what-will-happen-if-greece-defaults
Greece should default now - Morningstar.com.au
News. Greece should default now. Jeremy Glaser | 21 Sep 2011Text size Decrease Increase | ...European sovereign debt fears are nothing new. We've been ...
www.morningstar.com.au/funds/article/greek-default/3998
NEWS FLASH: Turkey Threatens War on Israel, Cyprus & Greece 9 ...
An Online Magazine for News & Studies Related to Bible Prophecy Fulfillment, ... provides an overview of recent news reports related to Turkey's latest developments. ... Now. Turkey's leaders have cast aside any Syrian intervention and initially ... dogfights in the Aegean Sea with Greek jet fighters, according to the report. ...
aoreport.com/.../1593-news-flash-turkey-threatens-war-on-isra...
Muvizu | On the News Greek report
Tags: Muvizu, greece, greek, news, sky, cage fighting, kids, report, latest, pope, ... one - I can go to the pub now and not worry about missing the news tonight! ...
www.muvizu.com/Video/17426/On-the-News-Greek-report
Greece set to unveil new austerity plan - The Globe and Mail
Search: News; Quote; Web; Businesses; People; Jobs. News Search. News .... as an EU reportsaid a “systemic” crisis in sovereign debt now threatened a new ...
www.theglobeandmail.com/report-on...set.../singlepage/

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