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Monday, April 22, 2013

Portugal's BCP Bank Sells Greek Unit to Piraeus


The West Australian

Portugal's BCP Bank Sells Greek Unit to Piraeus
Fox Business
Greece's Piraeus Bank SA (TPEIR.AT) has agreed to purchase the Greek unit of Portuguese lender Banco Comercial Portugues SA (BCP.LB, BPCGY) in a deal that will provide the local lender with a capital boost and help prevent the Greek government from ...
Greek Lenders Work to Fill Gaps from Debt Restructure4-traders (press release)
Banco Comercial Gains After Selling Greek Unit: Lisbon MoverBloomberg
Greece's Piraeus Bank buys BCP's Greek unitEconomic Times
EnetEnglish -Reuters -Capital.gr (press release)
all 19 news articles »

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Greece Offers Residence to Foreign Investors


Naharnet.com

Greece Offers Residence to Foreign Investors
Naharnet.com
Greece will be offering residence to non-EU investors purchasing or renting property over 250,000 euros ($326,000), in a bid to revive its moribund real estate industry, officials said on Monday. The initiative, voted into law by parliament last week ...
Greece entices non-EU property investors with residence offerSouth China Morning Post

all 2 news articles »

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UPDATE 2-Greece seeks higher offer in gaming group OPAP sale


Kathimerini

UPDATE 2-Greece seeks higher offer in gaming group OPAP sale
Reuters
The fund is backed by Czech investor Jiri Smejc and Greek ship-owner George Melisanidis. Helvason, a firm controlled by Greek businessman Dimitris Copelouzos, is also part of the joint bid. Greece had earlier received only two binding bids for the ...
One bidder left for Greek gambling firm OPAP: source路透社
Czech-Led Consortium Emma Delta Only Valid Bidder for OPAP-SourceWall Street Journal

all 8 news articles »

READ THE ORIGINAL POST AT www.reuters.com

Greece's Eurobank opts for full state recapitalisation


The West Australian

Greece's Eurobank opts for full state recapitalisation
Economic Times
Eurobank is one of Greece's four major banks alongside National Bank, Alpha Bank and Piraeus Bank, which have recently consolidated their position by absorbing smaller lenders and foreign subsidiaries, including those of crisis-hit Cyprus. It was on ...
Greece's Eurobank drops capital increase plan, to fall under state controlReuters
Greece's Eurobank To Come Under Government ControlWall Street Journal
Piraeus Bank escapes state control, Eurobank does not - GlobalPostGlobalPost
Businessweek -4-traders (press release)
all 19 news articles »

READ THE ORIGINAL POST AT economictimes.indiatimes.com

Greece: Injured fruit pickers get state protection


Greece: Injured fruit pickers get state protection
MiamiHerald.com
ATHENS, Greece -- A Supreme Court prosecutor in Greece has ordered that 35 immigrant strawberry pickers, most of whom were injured in a shooting last week, will be awarded state protection as victims of human trafficking. Twenty-eight migrant workers, ...
Greece: Injured fruit pickers get state protection - Fremont TribuneFremont Tribune

all 3 news articles »

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One bidder left for Greek gambling firm OPAP: source


Kathimerini

One bidder left for Greek gambling firm OPAP: source
Reuters
ATHENS (Reuters) - Greek-Czech investment fund Emma Delta is the only remaining bidder in the race to buy a controlling stake in Greece's gambling monopoly OPAP (OPAr.AT), a senior official with direct knowledge of the sale told Reuters on Monday.
OPAP offers to be opened, all eyes on priceKathimerini

all 3 news articles »

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More and More Kids in Greece Are Starving


DigitalJournal.com

More and More Kids in Greece Are Starving
Care2.com (blog)
Greece's schools do not offer subsidized lunches for students, who either bring their own food or purchase it from a cafeteria. With some students able to do neither, Prolepsis, a nongovernmental public health group that Dr. Lipsos is affiliated with ...
Why Are Greek Children Going Hungry?Huffington Post
UNICEF study: Greek children far happier than German children - Digital JournalDigitalJournal.com

all 3 news articles »

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A 'sign' of the Greek economy

Just as ancient temples remind humanity of the once great Greek Empire, empty billboards represent Greece’s current situation. Just as ancient temples remind humanity of the once great Greek Empire, empty billboards represent Greece’s current situation.



READ THE ORIGINAL POST AT photoblog.nbcnews.com

Greek Ship Owners Seen Purchasing Vessels to Avoid Possible Levy


Greek Ship Owners Seen Purchasing Vessels to Avoid Possible Levy
Businessweek
About five Greek owners told Lion Shipbrokers Ltd. the prospect of a savings tax was one motivation for them to give more consideration to buying ships, Diana Solberg, an analyst in the Piraeus-based company's research department, said by e-mail today.


READ THE ORIGINAL POST AT www.businessweek.com

Greece's Eurobank drops capital increase plan, to fall under state control


Greece's Eurobank drops capital increase plan, to fall under state control
Reuters
The lender's management said in a statement on Monday that plans to plug part of that hole by tapping shareholders could not be carried out after Greece's lenders blocked Eurobank's planned merger with rival National Bank. (Reporting by Harry ...


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Why Are Greek Children Going Hungry?


DigitalJournal.com

Why Are Greek Children Going Hungry?
Huffington Post
Once again, in 2013, a huge number of Greeks are without work. Many of these people are so impoverished they eat sporadically and, some of them, go hungry. Increasingly, the children of these destitute people eat little or not at all, fainting in schools.
UNICEF study: Greek children far happier than German children - Digital JournalDigitalJournal.com

all 3 news articles »

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Greek Bank Bulks Up With Millennium Buy

Greece's Piraeus Bank has agreed to purchase the Greek unit of Portuguese lender Banco Comercial Português in a deal that will provide Piraeus with a capital boost and help prevent the Greek government from taking complete control of its management.

READ THE ORIGINAL POST AT online.wsj.com

Greece's Hellenic Petroleum to meet investors to promote debut bond


Kathimerini

Greece's Hellenic Petroleum to meet investors to promote debut bond
Kathimerini
Hellenic Petroleum SA, Greece's largest refiner, is said to be planning its first-ever bond sale. The unrated company is arranging investor meetings in Zurich, Geneva, London and Athens starting April 23, according to a person familiar with the deal ...


READ THE ORIGINAL POST AT www.ekathimerini.com

EU austerity measures offered few gains in 2012, figures show

Disappointing annual results across much of trading bloc as borrowings rose in several countries despite cost-cutting drive

The austerity measures being pursued by a number of European countries have led to very little gain, official figures show.

Several countries at the forefront of the economic crisis saw borrowings rise last year, even though they followed the strict fiscal tightening prescribed by international creditors to keep their debt levels down, according to figures from Eurostat, the EU's statistics office.

Though the cumulative level of government deficits fell last year, mainly because of Germany swinging into a budget surplus, many countries have continued to reel from the costs associated with recession.

Spending cuts and tax increases have helped to reduce deficits across the 17 EU countries that use the euro, but the region's debt burden rose after economic growth flatlined and fewer companies and households paid taxes.

Of the four countries that accepted financial assistance, Portugal and Spain saw their deficits swell in value terms and in proportion to the size of their economies. Portugal's deficit increased to 6.4% of GDP in 2012, from 4.4% the year before; Spain's jumped to 10.6% from 9.4%.

Greece managed to make further inroads in cutting its borrowings, but the deficit rose to 10% of its annual GDP from 9.5% as the country remained mired in a deep recession. Only Ireland, widely viewed as the poster child of austerity, saw its deficit fall under both criteria – it stood at 7.6% of GDP against 13.4% the year before.

Overall in the eurozone, the deficit dropped in 2012, to about €353bn (£302bn) from €391bn the year before, with Germany posting a dramatic improvement. Europe's biggest economy posted a €4.1bn budget surplus last year compared with a €20.2bn deficit in 2011. As a result, the budget deficit of the whole eurozone fell to 3.7% of the region's annual GDP. In 2012, eurozone debt was worth 90.6% of the region's annual GDP, up from 87.3%.

Overall borrowing in the eurozone stands well in comparison with the US, which has a budget deficit worth about 7% of annual GDP.


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Greece ex-minister faces trial for graft


The New Indian Express

Greece ex-minister faces trial for graft
News24
This guide aims to be a strong incentive to the inquisitive voyager to Greece. Now R394.95 buy now. Athens - A prominent Greek ex-minister went on trial in Athens on Monday on charges of money laundering linked to controversial arms deals during his ...
Greece: Former Defense Minister, 18 others, go on trialThe New Indian Express
Greece: ex Defense minister on trial for money launderingANSAmed
Greece: trial of former defence minister Tsochatzopoulos beginsNew Europe

all 8 news articles »

READ THE ORIGINAL POST AT www.news24.com

France misses 2012 deficit target and Spain's shortfall widens


Economic Times

France misses 2012 deficit target and Spain's shortfall widens
Reuters UK
BRUSSELS | Mon Apr 22, 2013 11:16am BST. BRUSSELS (Reuters) - France and Spain fell short of their budget deficit goals last year, EU data showed on Monday, although the overall fiscal picture for the euro zone improved. France's 2012 budget deficit ...
France misses 2012 deficit target, Spain's shortfall widens -EurostatReuters
CEE Morning Briefing: EU National Debt and Deficit Data DueWall Street Journal
Eurozone 2012 Public Deficit 3.7% Of GDP, Debt 90.6%: EurostatMNI News
Deutsche Welle -RTE.ie -24/7 Wall St.
all 23 news articles »

READ THE ORIGINAL POST AT uk.reuters.com

UPDATE 1-Greece's Piraeus Bank buys BCP's Greek unit


UPDATE 1-Greece's Piraeus Bank buys BCP's Greek unit
Reuters
ATHENS, April 22 (Reuters) - Greece's second-largest lender Piraeus Bank will buy Portuguese lender Millennium BCP's Greek business for 1 million euros ($1.31 million) as part of consolidation efforts to cope with the debt crisis. Piraeus's ...
Portugal's BCP bank sells Greek unit to PiraeusMarketWatch
Pireaus Bank signs deal to buy BCP΄s Greek unitCapital.gr (press release)

all 4 news articles »

READ THE ORIGINAL POST AT www.reuters.com