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 Restructure Banco Comercial Gains After Selling Greek Unit: Lisbon Mover Greece's Piraeus Bank buys BCP's Greek unit |
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Monday, April 22, 2013
Portugal's BCP Bank Sells Greek Unit to Piraeus
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 offer |
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 Czech-Led Consortium Emma Delta Only Valid Bidder for OPAP-Source |
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 control Greece's Eurobank To Come Under Government Control Piraeus Bank escapes state control, Eurobank does not - GlobalPost |
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 Tribune |
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 price |
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? UNICEF study: Greek children far happier than German children - Digital Journal |
A 'sign' of the Greek economy
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. |
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 ... |
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 Journal |
Greek Bank Bulks Up With Millennium Buy
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 ... |
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.
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 trial Greece: ex Defense minister on trial for money laundering Greece: trial of former defence minister Tsochatzopoulos begins |
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 -Eurostat CEE Morning Briefing: EU National Debt and Deficit Data Due Eurozone 2012 Public Deficit 3.7% Of GDP, Debt 90.6%: Eurostat |
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 Piraeus Pireaus Bank signs deal to buy BCP΄s Greek unit |