Greece sells its national railway operator to Italy

Greece’s national rail company TrainOSE has been sold to Italy’s state railway group Ferrovie dello Stato (FS) for €45 million ($48.1 million). The sale is part of Greece’s €86 billion bailout agreed with international creditors two years ago.

Greece sells largest port Piraeus to Chinese company

Athens has signed a €368.5 million deal to sell the operator of Piraeus port to the Chinese shipping group COSCO, Reuters reported. This is the second major privatization for the country since last year. Under the deal, COSCO will acquire 51 percent of the listed Piraeus Port Authority for €280.5 million and the remaining 16 […]

Germans take over 14 Greek airports in privatization deal

Greece has signed its first major privatization deal granting control of over a dozen regional airports to a German company. The agreement is part of international creditors’ demands to privatize state assets to secure €86 billion in bailout funds for Athens. The €1.23 billion contract gives a 40-year lease to the Frankfurt airport operator Fraport.

Tsipras blasts ‘mercurial’ Turkish pilots & air defense budgets amid ground refugee crisis

As EU leaders met with the Turkish PM to finalize a €3 billion ($3.18bn) deal on easing the Syrian refugee crisis, his Greek counterpart criticized Turkey’s “mercurial” pilots for airspace violations that cost billions but in no way help to tackle people-smuggling through borders on the ground. Alexis Tsipras took to Twitter to point out […]

Conditions worsen for migrants denied passage across the Balkans

Conditions for hundreds of migrants stuck on Balkan borders worsened on Sunday as temperatures dropped and a first smattering of snow fell. Countries along the Balkan route taken by hundreds of thousands of migrants seeking refuge in western Europe last week began filtering the flow, granting passage only to those fleeing conflict in Syria, Iraq […]

Greece for sale: Germans to run Greek regional airports as part of bailout deal

Athens has approved a deal to hand over the operation of 14 airports to a German company. The 40-year contract worth €1.23 billion was awarded to Fraport AG, which currently runs Frankfurt Airport. The airports are not the only things on sale in Greece right now. Other travel hubs like ports and railways, the national […]

Germany OKs negotiations for 3rd Greek bailout deal

Germany’s Bundestag has supported a third bailout package to Greece in a majority vote, paving the way for further negotiations of fresh money being provided to Athens of up to €86 billion. 439 MPs voted in favor, 119 – against, while 40 abstained. The details of the three-year aid package are now set to be […]

Beat the dog before the lion: Varoufakis accuses Schauble of sacrificing Greece

Freshly out of the Greek Finance Minister’s chair, Yanis Varoufakis has declared that his German counterpart Wolfgang Schäuble wants to punish Greece – sacrificing it to reform the monetary union. In his article forDie Zeit, Varoufakis said that the goal of the German finance minister is to “discipline member states who opposed his very special […]

Greek MPs approve reforms for new EU bailout

The Greek parliament has voted in favor of a bill enacting the reforms required by its European creditors as part of a new bailout plan. This paves the way for the controversial 85-billion-euro bailout deal defended by Prime Minister Alexis Tsipras. An overwhelming majority of Greek MPs voted in favor of the reform package, with […]

Alexis Tsipras: Latest so-called ‘Leftist’ to sell-out to the bankers

For the so-called ‘radical leftist’ from Greece is only the latest in a long line of ‘radicals’ and ‘leftists’ to betray the people who had voted for them and cave into the demands of imperialist international finance capital. The only surprising thing about Alexis Tsipras’ capitulation to the troika is that anyone should be surprised […]

Eurozone leaders meet “conclude talks on Greece,” EU summit cancelled

A summit of all EU leaders scheduled for Sunday has been cancelled with eurozone leaders only meeting to “conclude talks on Greece” On Saturday, a meeting of Eurogroup finance ministers was adjourned without reaching any conclusion. Early on Sunday, Donald Tusk, the president of the European Council, tweeted that the eurozone leaders’ meeting will start […]

Goldman Sachs could face lawsuit for helping hide Greek debt – report

A former Goldman Sachs banker suggested Greece start legal action against his former employer over complex financial deals that helped the country hide its national debt in 2001 and continue borrowing despite its poor economy, the Independent reports. The banking giant made as much as $500 million from the transactions known as “swaps”, which translated […]

Greek banks to go bankrupt Monday if no debt deal – FT

As cash withdrawals from Greek banks reach €100 million a day the country’s banking system will end up bankrupt on Monday if no deal with creditors is reached over the weekend, some senior bank executives told the Financial Times (FT) on Friday. Cash withdrawals are at a high rate despite capital controls imposed by the […]

“Leave Euro, retake democracy!” Nigel Farage in passionate Tsipras address (VIDEO)

In an impassioned speech, the un-resigned UKIP leader Nigel Farage told Greek Prime Minister Alexis Tsipras to take “courage” and quit the euro after the latest emergency bailout talks broke down. Farage said it was time to “get back control of your country,” adding the banks would “give you no more.”

Greek debt crisis a threat to UK financial system – Bank of England

The Bank of England (BoE) has warned the Greek debt crisis is a threat to UK financial stability and could trigger wider problems on financial markets. In its twice-yearly Financial Stability Report published Wednesday, the BoE claimed the risks associated with Greece had “worsened” and that the situation “remains fluid.”



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