From passiveness to discomfort in foreign policy issues
In foreign policy issues, the government’s responses range from passiveness to discomfort, while observing Turkey's moves in Syria with "concern". Prime Minister Kyriakos Mitsotakis has even refrained from using the word "invasion” when it comes to Turkish troops in Syria. The Greek government has not yet clarified whether it considers the invasion a breach of the Lausanne Treaty. The argument that it constituted a police-type operation is certainly not valid, after Recep Tayyip Erdogan made it clear that "as it happened in Cyprus, where a Turkish flag is raised, it never leaves". Tayyip Erdogan had talked about revising the Lausanne Treaty when he came to...
Prodromou: AKEL spreads irresponsible insinuations
Mr. Prodromou should first consult the President before proceeding to statements, in order not to further expose him irreparably, AKEL said in a statement. A war of communications between the government and AKEL has erupted in recent hours over the issue of naturalization. Talking to the press at the Presidential Palace this afternoon, government spokesman Prodromos Prodromou stated that "AKEL's attempt to comment on the investment program, with specific references to the President's former law firm could be nothing but proof of bad faith and its intention to malign, when it is publicly known, on the basis of evidence submitted to Parliament, that this office has...
Rising tension by Tsipras: A bill of favors that takes us back to the IMF days
Alexis Tsipras spoke of a bill which constitutes a "binding of favorable amendments" and gifts to business friends and Mitsotakis’ government interests. "The period of grace, immunity and nobility is over", he said, addressing the government. "This is not a bill, it is a service laundry", he stressed. The former prime minister took to the Parliament’s floor and fired a fierce attack against the government and its development bill, which entails “anything but development", while criticizing Kyriakos Mitsotakis' choice not to appear in the chamber, despite the bill's importance. "He is ashamed to defend the favors," SYRIZA stressed. "We are going back to the old...
RES: 700-million investment in Montenegro
The Montenegrin state-owned company Elektroprivreda Crne Gore - EPCG is expected to release in the near future approximately 700 million euros for the construction of Renewable Energy Projects by 2022 of a total power of 500 MW, according to the development and engineering director, Ivan Mrvaljevic. "The Briska Gora photovoltaic park, the Gvozd wind farm and the Komarnica hydroelectric plant will deliver a total power of 500 MW", the company official stated. It is noted that in September, EPCG shareholders approved a 58m-euro investment for the construction of the 50 MW Gvozd wind farm in collaboration with Austrian company Ivicom Holding GmbH, while in December...
What Greece will gain from the early repayment of the IMF loan
Early IMF loan partial repayment is expected to improve Greece's financial position and debt sustainability, gaining financial benefits and mitigating foreign exchange risks stemming from IMF’s report, ESM wrote in its letter through which it recommends for the Greek request to be granted. As it goes on to explain, following its improved access to markets and the boost of investor confidence, Greece has managed to create large-scale liquidity "safety-cushions" that will allow for the early repayment of the more expensive part of the IMF loan. The IMF repayment - to be financed through bond issues completed this year - provides liquidity savings, while it also...
Dodik vs US Senate
US Senate held a hearing about the situation in the region of West Balkan with the situation in Bosnia and Herzegovina as an important part of the session. The senators, during the discussion, marked Serb member of the BiH Presidency and leader of the Alliance of the Independent Social Democrats (SNSD), Milorad Dodik, as the main obstacle “who blocks anything that would bring about progress”. Speaking about the situation in the country, US Special Representative for West Balkan, Matthew Palmer, emphasized that BiH has yet to establish government institutions, even more than year after the General Elections. “We are supporting efforts to reach an agreement...
Greek households’ income up 5% in the second quarter 2019
Households in Greece moved in particularly positive territory in the second quarter of 2019, as a result of the country's exit from the memorandums and the positive measures taken by the previous SYRIZA government. As a result, the Greek Statistical Authority saw an increase in disposable income and consumer spending in the second quarter, with net savings going to a positive sign. In particular, in the second quarter of 2019, disposable income of the households and nonprofit institutions serving households (NPIEN) increased by 5.0% compared to the same quarter of the previous year, from EUR 30.9 billion to EUR 32.5 billion. Consumption According to date...
There is good progress in Lute’s contacts, UN SG deputy spokesman says
Commission stands ready for the Cyprus problem By Michalis Michael Good progress has been made in the contacts of the UN Secretary-General's Special Representative, Jane Holl Lute, with the various parties, UN  Secretary General Deputy Spokesman Farhan Haq said, noting that there was nothing to be announced. Asked if there is any progress on a meeting on the Cyprus problem, Mr Haq said that "there is no news for Cyprus today. Jane Holl Lute is in touch with various parties. If we have an announcement we will make it, but she is currently working with them. I believe that progress is good, but we do...
Prime Minister to meet with bank chiefs
Prime Minister Kyriacos Mitsotakis will meet on Thursday with the chiefs of Greece’s four systemic banks, to discuss the latest charges on transactions and “Hercules”, a plan to securitize non-performing loans (NPLs). The PM is expected to urge bankers to address the charges, which has caused media upheaval in recent days. The government appears to be concerned about the issue, with Development Minister Adonis Georgiadis stating this week that bankers “should listen to society”, to avoid giving the impression that they orchestrated a fee increase at the expense of customers. The increased fees came to offset losses banks have suffered in their interest takings, which...
LNG terminal in Poland incites “green” war
The expansion of a liquefied natural gas (LNG) refueling terminal in northwestern Poland, which is expected to be funded with 130m euros using European funds, has sparked outrage by "green" activists who oppose and condemn the EU’s steady support towards the hydrocarbon mining sector. “The EU’s financial contribution - as stated in EurActiv - will help strengthen the operation of the Świnoujście terminal by enhancing its ability to process, re-gasify and store natural gas quantities, ensuring its easier transport”, the European Commission underlines in a document. It is noted that this terminal is the largest LNG plant in northern, central and eastern Europe. The funding...