Tag Archives: Greece

Greece Riots 100,000 Fight Against Harsh Cuts In Athens Protests

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Greece Considering Confiscation Of Private Assets

The last time we opined on the possibility of a Cyprus-style “bail-in” in Greece, which is essentially a legally-mandated confiscation of private sector assets held hostage by the local financial system, until such time as the balance sheet of said … Continue reading

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Greece On The Verge? Military Special Forces Have 15 Demands… Or Else

Greek government authorities are on alert after a union of Greek army reservists of Special Forces issued a statement urging the Greek administration to step down and make way for a national unity government. As Keep Talking Greece notes, the statement on the … Continue reading

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Striking Nation: Anarchists, riot police clash outside Athens

From YouTube: Tear gas is fired in Greece, as protesters clash with riot police in the country’s capital. Thousands of public sector workers took to the streets today in a nationwide strike to protest more spending cuts. In a separate … Continue reading

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The situation on the ground in Athens

My friend Illias took a drag of his cigarette as he contemplated my question. “Our government tells us that this will be a better year. No one really believes them. But all we can do is be optimistic. Too many … Continue reading

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There Goes Greece (Again)

  Greek Bonds Plunge As Ruling Coalition Partner Pulls Out, Withdraws Ministers As reported yesterday, Greece has stormed right back to the top of the crisis charts, not only due to the previously reported news that the IMF may be withholding … Continue reading

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Today’s Greek General Strike Will Not Be Televized

The Greek national broadcaster ERT situation is nowhere near a resolution, and the nation’s political stability remains in the balance with  Antonis Samaras’s coalition partners, Evangelos Venizelos of PASOK and Fotis Kouvelis of Democratic Left, appealing to him Wednesday for talks on … Continue reading

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Crisis And Chaos Return To Greece Following National TV Shutdown

A week ago we joked that Greece was rapidly sliding into the “fourth world” (and had the photos to prove it). Well, today Equity Index provider MSCI took our joke and made it into something way too serious when overnight it … Continue reading

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IMF Says Another Greek Bailout Necessary

Just six short months ago (before GGBs rallied 119% and the Athens Stock Index 53%), the EU and IMF agreed on Greek Debt/GDP targets, pronounced the nation “fixed”, and went on winter vacation. Well, surprise, the hockey-stick of expected GDP has … Continue reading

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Russia, Greece, Turkey, Other Central Banks Buy Gold; China’s PBOC Buying?

China’s reserves rose 721% from 2004 through 2012, while the combined total among Brazil, Russia and India rose about 400% to $1.1 trillion. Continuing diversification into gold from the huge foreign exchange reserves by the People’s Bank of China and … Continue reading

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The Euro Legacy: In Greece, Children Pick Through Trash Cans For Food

We have reached a point where children are coming to school hungry,” as with an estimated 10% of Greek elementary and middle school students suffering from ‘food insecurity’, the troubled nation has fallen to the level of some African countries. As the … Continue reading

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Greeks Panic As Drug Firms Slash Medicine Supplies By 90% On Bad Debts

Greece is facing a serious shortage of medicines amid claims that pharmaceutical multinationals have halted shipments to the country because of the economic crisis and, as The Guardian reports, concerns that the drugs will be exported by middlemen because prices are higher … Continue reading

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Greek Finance Minister Gets Bullet In The Mail

Now that Europe is clearly unfixed once more, it is time to shift attention back to broke Greece where as we showed yesterday things are certainly back to the “new normal” with 24 hour strikes again on the daily agenda. And just … Continue reading

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Now Greece Bans Cash – Again

Greek FinMin: purchases over €500 only via credit card, check or bank transfer …Greek Finance Ministry plans to put an end to cash payments. Purchases worth more than 500 euro will be not possible with cash money anymore. Finance minister … Continue reading

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Anonymous Hacks Greek Finance Ministry, Finds “123456” Is Password For 37% Of All User Accounts

While we have yet to go through the thousands of files that hacker collective Anonymous has just released as a result of its hack of the Greek Finance Ministry, an exploit it described as follows: “We gained full access to … Continue reading

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