The professor of economics at the University of Athens Panagiotis Petrakis explained GRReporter the reasons that have led to the defeatist cut of the Greek debt and why the whole Euro Area is concerned with the problems of small Greece.

However, Parliament employees will bear the lion's share of cuts. They will be deprived of any additional payments and allowances as provided by the government decisions adopted for all public sector employees.

The head of the Greek Orthodox Church visited Qatar in an effort to find investors to boost the church income that have decreased because of the crisis. According to church sources, the priorities are development of photovoltaic parks, marble extraction and use of large property.

By the end of the year, the European Commission and international financiers will prepare the new support programme for Greece, which will be valid until the end of 2014. It is at the expense of a 50% haircut of government bonds held by pension funds and other financial institutions.