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Grassroots protests highlight public discontent with development policies
PoliticsGreek Politicsby the union of workers in the city’s water utility EYATH supported by the association of musicians... in the city centre, including a proposal by a hotel chain to convert one of them into a conference venue... for the conservative vote. Sentiment in Greece’s second largest city has been particularly affected
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Dead fish in Volos cause big political stink
PoliticsGreek PoliticsMore than 100 tons of dead fish that washed up off the port city of Volos in central Greece... towards the city in central Greece from nearby Lake Karla, which was drained in the 1960s..., the developments in the port city are a reminder of how the growing environmental challenges
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ND highlights housing initiatives as Athens waste row rekindles hopes of progressive alliance
PoliticsGreek Politicsalliance between the two parties which won city hall in the last local elections. The government... for a progressive alliance on the national scene. Athens mayor Haris Doukas, who won city hall for PASOK... euros to 30 million euros without notice, after the city council had already approved its budget
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Is Democratic Left set to make a shock return to Greece's coalition?
PoliticsGreek PoliticsWhen Democratic Left quit the coalition government in June, the possibility of the small centre-left party bridging its differences with New Democracy and PASOK seemed impossible. Suddenly, though, some kind of reconciliation – a return to the governmen...
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Unemployment hit new high of 27.8 pct in October, set to rise further
EconomyMacroeconomyGreece officially assumed the presidency of the European Union on Wednesday, with the highest unemployment rate in the 28-member bloc. According to the Hellenic Statistical Agency (ELSTAT), the seasonally adjusted jobless rate in October stood at 27.8 p...
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Long-term jobless rate of 71 pct poses new set of social challenges for Greece
SocietyThere was a time when Greece’s unemployment rate caught the media’s attention as it quadrupled from 7.3 percent in the third quarter of 2008 to the recent record high of 27.8 percent in the first quarter of 2014. There is less of a fuss these days, thou...
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Greek banks' potential capital shortfalls set to be reduced by more than 2.5 bln
EconomyGreek media reported on Tuesday that the Ministry of Finance (MoF) will soon table in Parliament a draft bill which will allow the conversion of Greek banks’ Deferred Tax Asset (DTA) into tax credit. The new legal framework has to be approved by the Eur...
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ECB set to provide extra liquidity to Greek banks but capital needs remain an issue
EconomyIn its latest comment on Greek banks, Fitch noted that they remain burdened by a large stock of non-performing loans (NPLs), despite capital enhancement and progress with their restructuring plans. On the key issue of the European Central Bank’s compreh...
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First Greek presidential vote to set tempo for final ballot on Dec 29
PoliticsGreek PoliticsThe first round of the presidential ballot on Wednesday evening (7 p.m. Greek time) is unlikely to provide any clear indications about whether the current Greek Parliament will manage to elect a new head of state by the final vote on December 29. The go...
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Varoufakis outlines contours of debt deal as haircut set aside
PoliticsGreek PoliticsThe outlines of what the new Greek government is aiming to ask of its eurozone partners in terms of debt relief emerged on Monday evening, when Finance Minister Yanis Varoufakis spoke to the Financial Times after meeting with British Chancellor George O...
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