EFIMERIDA TON SYNTAKTON

Annual report by the Bank of Greece

“Gentlemen unfortunately we are going bankrupt”

  • 23.1% of Greeks (2,535,000) below poverty line
  • Property: warning signs of over-taxation

Greek households are sinking steadily into poverty and desperation in interest of securing a primary surplus.

More than 2.5 million people have incomes that render them below the poverty line as they can no longer cover even their basic needs.

In its annual report the Bank of Greece also notes the over-taxation of real estate, the fiscal gap for the next two years and the need to reduce the tax burden. 

KATHIMERINI

One offer for Hellenikon

Lamda Development, in cooperation with the state investment fund of Abu Dhabi, the Chinese Fosun and European funds, submitted the only offer in the competition for the development of the Hellenikon site [the site of the former airport on the south coast of Athens]. The financial offer will remain sealed until the Hellenic Republic Asset Development Funds rules on the compliance of the technical offer and the completeness of the documentation. According to Lamda, the total investment proposal will surpass 7 billion euros and will include a 2,000 stremma park (about 500 acres). 

ELEFTHEROTYPIA

“In Perama we have no life”

In 2009 it hummed with the activity of the cranes and shipyards of the Shipbuilding Zone but now the area seems deserted. Of the approximately 500 businesses that were once active in the area there remain about ten. Unemployment over the past few years has hovered around 95%. Every day workers roam about anxiously seeking odd jobs. The woes began with the sale of the Skaramanga Shipyards which was completed following the cancellations of the submarine contracts. 

IMERISIA

The economy is finding its rhythm

Strong prospects for growth – hopes that the page is turning

  • Hints from foreign agencies of an upgrade
  • A fiscal surplus, a major drop in the spreads on government bonds and a positive trade balance are the indications of an exit from the crisis
  • There are strong indications in the market for a dynamic return to recovery.
  • There is encouraging evidence of the creation of new small businesses
  • A “thundering” return of foreign tourists to Greece
  • The country and the banks are closer to returning to international money markets.

 

 

ESPRESSO

The family that rules Greece (with bulldozers)

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