Catsimatidis: Greece Needs to Treat Investors with “Aggalies,” Not “Klotsies”

ATHENS – “Greece is very, very rich,” John Catsimatidis told the crowd at Capital Link’s Corporate Social Responsibility (CSR) forum on May 27. The event, whose theme was “For a Better Tomorrow,” honored Catsimatidis, a Greek-American self-made billionaire, with its 2014 Leadership Award. (Full story: “Capital Link Hosts 4th Annual Corporate Social Responsibility Forum,” TNH, […]

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Greek Jobless Rate Falls: 0.1%

Greece's unemployment rate has fallen, but only by 0.1 percent, showing how difficult the task is for Prime Minister Antonis Samaras to get people back to work.

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Greece’s public revenue chief Haris Theocharis resigns

Finance Minister Yannis Stournaras has accepted the resignation of the country's general secretary for public revenues Haris Theocharis. In a statement, the ministry said Theocharis had resigned for “personal reasons.”... ...

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NYT: The Financial Crisis Hasn’t Reached Mykonos

“The international jet-set appeal of Mykonos has helped the island escape some of Greece’s economic woes. Prices have fallen since 2008, real estate agents said, but sales never completely stopped, and a new wave of buyers from the Middle East has helped compensate for the loss of the Greek market,” noted a New York Times article about the real estate market in Mykonos. Furthermore, the extensive article of the American newspaper refers to a traditional 5,000 square meter villa on the southeastern side of the island that was sold for over 2.9 million euros. According to NYT, “in recent years, agents said, Mykonos has become popular with buyers from the Middle East — in particular Egypt, Israel and Lebanon — who are looking for an escape from the region’s turmoil.” Moreover, the article stresses that the “European buyers tend to come from Britain, France, Germany and Italy, he said, with a sizable contingent of Americans, many with Greek ancestors,” while “buyers are looking both for a vacation home for themselves, and to take advantage of Mykonos’s strong rental market.” According to a local real estate agent, foreign buyers always consider the income they are going to have when they buy a property, which is very good for the market.  

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Greeks in Normandy Invasion: Who they were and how they fought

Friday, June 6, 2014 marks the 70th anniversary of the Western Allied Forces landing in Normandy. Soldiers from Dodekanisa Greek islands took part in the military operations during the Normandy invasion. Stathis Papaststikos from Kastellorizo served on the Greek torpedo boat “Navarino,” which took part in the military operation alongside other Greek warships. He is one of the few survivors of the Normandy invasion. “Our destroyer followed and protected American and English cargo ships containing soldiers and tanks to land in Normandy coasts.” says the elderly soldier who can’t forget the excitement Navarino’s crew felt when informed of the successful military assault in on June 6, 1944, otherwise commonly known as D-Day. During his interview in “Rhodiaki” newspaper, Stathis Papastatikos, today aged 87, describes the heroic moments of the landing with emotion “As soon as we were informed that the Allies had landed in Normandy we started celebrating, throwing our hats in the air.” The interview was taken in 2010, 66 years after the memorable era. Greek ships “Kriezis” and “Tobazi” played an important role in the invasion. Kleanthis Zervos from the Greek island Kalymnos, who served as a lieutenant in “Kriezis” was later elected a Dodekanesian MP with the Greek socialist party PASOK. “We knew this invasion would be the beginning and the end of World War II” highlights Papastatikos. “Our ship was very strong and my duty was to fill the firearms when we were fighting against German ships” he proudly adds. Stathis Papastatikos was born in Kastellorizo. When Germans bombarded the island he had to escape by boat and reach the Turkish city Antifylos. At that time, he was only 18 years old. The English unit located in Antifylos, sent the young fisherman and other soldiers from Dodekanisa in Cyprus and this is when his big adventure started.

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Greek Crisis Causes Drop in Gambling

The classic notion that the average Greek likes to gamble in the hopes of winning easy money, has been ruined. As a result of the economic crisis, gambling turnover decreased by 37% over the last five years (2009-2013). According to data released by the Gaming Oversight and Control Commission (EEEP), the total gambling turnover in 2013 amounted to 5.495 billion euros, compared with 8.739 billion euros in 2009. This data concerns OPAP, ODIE, state lottery, and casinos. In its report the Gaming Oversight and Control Commission states that several important projects will be completed in the coming months. The plan for 2014 provides the establishment of regulations for the control of OPAP games. After consulting with the European Commission, a new regulation will be published in order to amend the existing provisions and establish new regulations, which emerged as necessary during discussions. Meanwhile, an IT control and oversight system is expected to be installed in all gaming machines in order to facilitate data collection, identify any software problems, and generally ensure the smooth and credible conduct of gaming.

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Public Revenue General Secretary Theoharis Resigns

While rumors regarding the upcoming cabinet reshuffle and the possible ministerial appointments are widespread, Greek General Secretary of Public Revenue Haris Theoharis announced his resignation Thursday after a meeting with Greek Finance Minister Yannis Stournaras, causing discontent among Greece’s international partners, the European Union and the International Monetary Fund (IMF). “Theoharis took over the leadership at the General Secretariat of Public Revenue, which for over a year was without a supervisor at the most difficult time during the peak of Greece’s fiscal crisis, and under the most harsh conditions,” Finance Minister Stournaras announced, while acknowledging the reforms put through during his tenure and his accomplishments. “I thank him very much for his services and wish him good luck in his future undertakings,” Stournaras added. According to sources, already since Wednesday afternoon, the Greek Finance Minister is said to have asked Theoharis to resign, blaming the Secretary for a recent initiative, which was addressing foreign Greek bondholders and prompting them to pay taxes for their titles. The decision, which was made public right before last month’s elections, displeased the government and caused severe turmoil in the Finance Ministry cycles, and was immediately revoked. This development doesn’t appear to come as a surprise, as government officials had recently cited problems in their working relations with the General Secretary. Theoharis, however, argued that he was being targeted for the government’s political decisions, while mentioning that the resignation is for personal reasons. The term of the General Secretary of Public Revenue has a length of five years, is an independent non-political appointment, and the only possibility for Theoharis to be removed from his position is only by tendering his resignation. Greece’s International partners displeased The prompted resignation of Theoharis has created further turmoil, with Greece’s international partners showing their great discontent, while the abrupt seasonal closure of the Greek Parliament Wednesday also triggered political upheaval in Greece’s domestic and foreign political scene. Officials in Brussels and the Troika are said to have been informed about the decision to remove Theoharis while more changes are imminent in the state mechanism. European Commission officials are reported to have expressed their great dissatisfaction with Theoharis’ removal, underlining that the 5-year term is in place so as to protect the General Secretary from political appointments, while mentioning that Theoharis has accomplished many tasks during his tenure. The IMF is reported to have also reacted to the decision. At the same time, Greece’s partners are very displeased with the government’s decision to conclude the current Parliament session and redirect urgent policy changes to the summer session, which begins in two weeks. Many reform measures that were due to be addressed prior to the Eurogroup meeting on June 13, which would likely approve Greece’s new bailout installment, have to be put off until the Parliament opens for its summer recess session, in which only one-third of the total 300 Greek MPs participate.

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