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Archive - Feb 2012

February 22nd

The first exchange of bonds under the PSI programme will be in April

22 February 2012 / 20:02:09  
As of 1 March, the government eliminates collective labour agreements and wages in the private sector will be reduced by an average of 22%. The collective action clause CACs in the PSI process will be triggered if the involvement of private creditors in debt reduction exceeds two-thirds or 66%.

Privatization in Greece has been delayed for decades and should start immediately

22 February 2012 / 18:02:56  
Traditionally, any attempt to privatize a publicly owned enterprise faces acute response by trade unionists and the political power does not show great commitment to the utilization of large publicly owned abandoned property.

live Fitch has downgraded Greece

22 February 2012 / 16:02:34  
Fitch Agency downgraded Greece from CCC to C, report news agencies. The reason is the second bailout to the country, voted by the Eurogroup, which provides for the involvement of private creditors in the exchange procedure of Greek securities.

Remaining in the euro area will lead to serious political instability and a threat of revolution

22 February 2012 / 15:02:57  
True to himself and known as Dr. Doom - Nouriel Roubini, who took part this week in a debate held in Athens on "Greece should default on its debt and leave the euro" has stated this.

Europe will pay 50 billion to recapitalize Greek banks after the PSI

21 February 2012 / 23:02:25  
Venizelos defined the decisions of the meeting of eurozone finance ministers as the most important negotiations in the postwar history of Greece.

February 21st

Foreign citizens feel no security threat in Greece

21 February 2012 / 19:02:00  
They define as excessive the British Foreign Secretary statements of an evacuation plan for his compatriots living in the country.

Fictitious Greek transport companies in Bulgaria save millions in taxes

21 February 2012 / 17:02:55  
Accounting offices in Greece and Bulgaria are helping truck and tank drivers to open fictitious companies in Blagoevgrad and Petrich in order to evade law and taxation. This according to the president of the federation of Greek transporters, Apostolos Kenanidis, who spoke exclusively for GRReporter.