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Archive - Sep 2011

September 8th

14,000 civil servants in Greece will be paid not to go to work

08 September 2011 / 21:09:19  
Under the labour reserve program, public sector employees, who have to be dismissed, will go on a year paid leave during which they will receive 60% of their gross salary.

September 8th

Greek recession deepens, lenders will require new measures for the sixth tranche

08 September 2011 / 20:09:02  
Greek GDP continues to decline rapidly. Unemployment is rising and lenders are threatening that they are not going to pay the sixth tranche of the bailout if the supervisory Troika's report on the progress of the reforms in the country is not positive. According to unnamed sources, new measures will have to offset the deviations.

The season of protests will be open at the fair in Thessaloniki

08 September 2011 / 16:09:59  
Over the next two days, the protests scenes will take place in Thessaloniki. The police have turned the city into an impregnable fortress for fear of collisions during the expected mass protests.

No taxis in Greece again next week

08 September 2011 / 15:09:55  
The general meeting of the Union of Taxi Owners decided to go on 48-hour strikes until the PASOK government gives up its plans to offer cheaper taxi licenses.

September 7th

There will be a mosque without minaret in Athens

07 September 2011 / 20:09:24  
The Parliament approved the decision despite the far-rights' fierce response. The mosque in Athens will have no minaret and will take only 350 people, but the Muslim Association is satisfied with the first step in this direction.

Media on the verge of nervous breakdown

07 September 2011 / 19:09:04  
Like the Greek state, local media are in poor financial condition too. The first in the list of troubled companies are the private television Alter and the newspaper Eleftherotypia. The losses in the media sector reach € 54 million in total.

Greece would lose half of its GDP by leaving the euro zone

07 September 2011 / 18:09:21  
An analyses by Royal Bank of Scotland forecasts the failure of the troubled Mediterranean country in December and a dramatic shock on the global stock exchanges.