KATHIMERINI
 

Greece has second greatest drop in real-estate prices in EU

From the outset of the financial crisis, prices drop by 32%

Last year Greece saw the second greatest drop in real-estate prices amongst the member states of the EU. In the third trimester of 2013, real-estate prices were down 9.2% compared to the same period in 2012. The largest drop (16.9%) was seen in Croatia. In Cyprus house prices dropped by 8%, in Spain by 6.4% and in Portugal 2.9%. From the outset of the crisis the total reduction of real-estate prices in Greece comes to 32%. The average time taken to sell real-estate is close to year and asking prices are reduced on average by more than 20%. The downward price trend is expected to continue this year according to the international rating agency Fitch.  

ELEFTHEROTYPIA
 

Council of State ruling a headache for the government

The Council of State ruling that found the law imposing wage-cuts for uniformed public employees unconstitutional will create a funding gap of at least 1 billion euros for the three-year period 2012-2014 according to Deputy Finance Minister Christos Staikouras in statements made to the Financial Times, confirming Eleftherotypia which wrote on the 20th of January that the losses would reach 400 million euros per year. However Council of State sources claim that the reasoning used by the court does not leave room for other categories of public employees to be affected by the ruling. 

 

 

EFIMERIDA TON SYNTAKTON
 

A strong lead for Syriza according to Public Issue poll for “Ef Syn”

Syriza’s steady lead in the polls is confirmed by today’s release of the second part of research conducted by Public Issue on behalf of “Ef Syn”. The opposition party is leading in voter intentions and likelihood of victory. Antonis Samaras is considered ‘most suitable’ for the position of Prime Minister, while Syriza is leading in terms of party popularity.

Voter intentions based on telephone poll:

Syriza – 31.5%
New Democracy – 28%
Golden Dawn – 10%
PASOK – 6.5%
KKE – 6.5%
Independent Greeks – 4.5%
DIMAR – 3.5%

– 55% of respondents said they do not trust anyone to govern

 

 

AVGI
 

European Commission:

Poverty with unemployment and work

The latest Commission report on employment in Europe depicts a picture of an irreversible, if current policies are maintained social disaster. The policies of blind austerity have dramatically intensified the problem of poverty to such an extent that even if someone is employed or manages to find work, it does not automatically guarantee that they will be able to stay out of the grip of poverty. A reduction in unemployment will not be enough to reverse the trend of an increase in poverty the report warns. 

 

IMERISIA
 

An optimistic report on Greek banks

JPMorgan ‘sees’ an influx of deposits worth 30 billion

– The ratings house maintains that the market is underestimating the potential for profitability of the banks

A warning over potential turbulence, either from political instability or a delayed recovery from the recession

Positive scenarios from JP Morgan ‘see’ a reduction in the cost of money below 3% and a return of deposits worth 30 billion euros. According to JPMorgan the full recognition of a postponed tax will provide added capital for the four systemic banks.