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greek primary surplus comes at the expense of growth | business

the 2017 budget has officially registered a record primary surplus of 4.2 percent of gross domestic product, against a target for 1.75 percent, but this came at a particularly heavy price for the economy, which grew just 1.4 percent against a budget target for 2.7 percent.it is obvious that securing primary surpluses of more than twice the target, depriving the economy of precious resources, is directly associated with the stagnation of growth compared to original projections. it is no coincidence that consumption edged up just 0.1 percent last year, which analysts have attributed to taxpayers’ exhaustion due to overtaxation.the surplus was mainly a result of drastic cuts to the public investments program (by about 800 million euros) and s...




syriza mp redefines anarchist group rouvikonas | news

a lawmaker of the ruling syriza party said on monday that the self-proclaimed anarchist group rouvikonas is not a criminal group but a political one that engages in activism. referring to the paint attack on the french embassy and consulate in athens on sunday, giorgos kyritsis told skai tv on monday that throwing paint is “a classic ca...




paok's appeal is rejected, aek is officially the champion | sports

the appeals committee of the hellenic football federation (epo) announced on monday that paok's appeal against the decision that saw it lose the league game against aek and get points knocked off its league tally is rejected, meaning that aek is now formally and mathematically the new champion of the super league, enjoying an eight-point lead with two games left.no fewer than 43 days after the infamous game between paok and aek in thessaloniki on march 11, when paok owner ivan savvidis protested at the referee flashing a handgun in his hip holster, the epo committee issued its verdict that seals the fate of the league.the original decision, by the disciplinary c...




crooked ex-cop ran tobacco smuggling gang | news

a tobacco smuggling gang that was disbanded on saturday was led by a retired policeman, according to a spokesman for the greek police (elas) on monday.the former officer, 56, and two other men, 47 and 60, were arrested in coordinated police sweeps in the attica municipalities of avlona, koropi and aspropyrgos.the gang is...




dead baby found at bottom of light shaft | news

a coroner’s examination of a dead baby found at the bottom of a light shaft in an apartment block in the athens neighborhood of nea smyrni on saturday indicated that the infant was born healthy and died around 12 hours before its body was discovered.the coroner c...




muggers who tried to assault two women caught | news

three men have been charged with the attempted sexual assault and robbery of two women on strefi hill in the exarchia district of athens, authorities said on monday.according to police, the algerian nationals robbed the w...




woman killed by stray bullet in corfu | news

police on monday were investigating the death of a 56-year-old woman who was killed by a stray bullet fired during a reception on saturday celebrating a baptism in the village of afra on the ionian isla...




eu suspects tax fraud at china’s new euro gateway | business

european union and italian authorities are investigating suspected wide-scale tax fraud by chinese criminal gangs importing goods via greece’s largest port of piraeus, a trade gateway between china and europe, officials said.“the [value-added tax] is completely evaded, with enormous damage to the national tax authorities and to the community,” fabio botto, of the italian central anti-fraud office’s special investigative unit, said in an interview.he said the suspected scam at piraeus, part of china’s vast belt and road infrastructure project, had cost italy tens of millions of euros in unpaid vat, adding that the total could be much higher as the investigation is not over.the european anti-fraud office (olaf) confirmed it was worki...




ecb mulls shelving rules tackling eurozone npls | business

the european central bank is considering shelving planned rules that would have forced banks to set aside more money against their stock of unpaid loans, after suffering a political backlash.the guidelines, which were expected by march, had been presented as a key plank of the ecb’s plan to bring down a 759-billion-euro pile of soured credit weighing on eurozone banks, particularly in greece, portugal and italy.the frankfurt-headquartered institution...




kotzias, dimitrov to hold new meeting on wednesday | news

foreign minister nikos kotzias will meet on wednesday with his counterpart, nikola dimitrov, in vienna, to continue talks on the name of the former yugoslav republic of macedonia (fyrom), with un mediator matthew nimetz.the ...




athex: local stocks succumb to international pressure | business

early gains quickly turned into losses at the beginning of the week at athinon avenue on monday. with pressure on international stocks and moderate growth in bond yields, investors adopted a cautious stance.the athens exchange (athex) general index ended at 838.63 points, shedding 0.72 percent from friday’s 844.70 points. the large-cap ftse-25 index contracted 0.80 percent to 2,162.81 points, while small-caps grew 0.10 percent.the banks index declined 0.78 percent, wi...




primary surplus at growth’s expense | business

the 2017 budget has officially registered a record primary surplus of 4.2 percent of gross domestic product, against a target for 1.75 percent, but this came at a particularly heavy price for the economy, which grew just 1.4 percent against a budget target for 2.7 percent.it is obvious that securing primary surpluses of more than twice the target, depriving the economy of precious resources, is directly associated with the stagnation of growth compared to original projections. it is no coincidence that consumption edged up just 0.1 percent last year, which analysts have attributed to taxpayers’ exhaustion due to overtaxation.the surplus was mainly a result of drastic cuts to the public investments program (by about 800 million euros) and s...




no agreement on greek debt measures in sight yet | business

despite athens’s optimism for an overall agreement by june 21, eurozone officials have returned to brussels after the international monetary fund’s spring meeting in washington in full awareness that reaching a deal on easing greece’s debt will be no cakewalk.the fund and the eurozone may not have gotten any closer after their meetings in the us capital, but at least they have stated their intentions regarding their t...




air seat planning points to another record year for tourism | business

the outlook for tourism traffic passing through greece’s regional airports, based on airlines’ end-march planning for air seats for the summer season, is particularly encouraging as it points to an 18 percent increase on last year, or 2.98 million more visitors.although this appears...




public coffers swell thanks to legalized gambling via vlts | business

the illegal turnover of offline gambling is in the process of turning legal. last year alone gaming giant opap’s turnover from games of chance on video lotto terminals (vlts) came to 1 billion euros. this turnover has not come about through new players discovering slot machines but rather from the legalization of the existing illegal market.opap currently operates around 10,000 vlts and after the amendment of its contract it is expected to increase this figure to some 25,000. however, the number of illegal machines in greece is estimated at more than 100,000, according to data released by the financial police, who confiscate dozens of vlts from well-hidden spots in cafeterias, internet cafes and other venues every day.experts estimate that...




kammenos: nobody should dare challenge our sovereignty | news

greece will not tolerate any challenges to its national sovereignty, defense minister panos kammenos said on monday, speaking at the infantry school in halkida during an event to celebrate st. george, patron saint of the hellenic army. "we want peace, we wok for peace and we will do everything in our power to preserve peace, but nobody sh...




a refugee family’s integration into greek education | community

“muslims are terrorists, and refugees might bring terrorism to greece,” a seventh-grader says loudly to her friends during a class break. mohammed, an iraqi-syrian refugee, sits just a couple of meters away. while situations like this do not occur often, they are an indication of the struggles for integration that affect refugees in the greek education system.according to unhcr, the un refugee agency, as of january 2018, there are 50,370 refugees and migrants in greece. a total of 39,100 of these refugees live on the mainland and 11,270 are in the so-called hotspots on the greek islands. there are roughly 20,300 children of school age in greece and less than half are enrolled in formal greek schools. the education sector faces problems w...




a=-a | athens | to may 26 | what’s on

with the 162 pieces of pencil, ink, acrylics and oils that comprise “a=-a,” dimitris anastasiou tells the story of alpha, a character frantically trying to discover who he is and his place in the world around him. t...




greece beats budget target for third year, debt edges down | business

greece has beaten its bailout budget targets for a third successive year and eased its massive debt burden by a fraction as the country prepares to exit its international rescue program in four months.the country's independent statistics agency on monday reported long-awaited data for 2017 that will affect ongoing negotiations between athens and creditors on the terms of greece's exit.the ...




just 18 percent of greeks think life is fair, survey shows | news

most europeans feel that they are treated fairly in terms of opportunities to get ahead at 58 percent, but there are huge disparities in the 28-member block, with just 18 percent of greeks telling a eurobarometer survey that life is fair, against 81 percent of danes.published on monday, eurobarometer’s annual fairness report, found, however, that many europeans are concerned about how fairly justice and political decisions are applied in their countries.for example, only 39 percent of respondents are confident that justice always prevails over injustice, while the same proportion disagrees. in greece, 35 percent of respondents disagree, against 19 who agree.even more pessimistically, only 32 percent of europeans and 9 percent of greeks agr...