Thursday Jan 29, 2015 Search
Weather | Athens
14o C
8o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
New Democracy firing staff as it slashes its expenses

New Democracy has begun firing staff from its party headquarters on Syngrou Avenue in Athens as it tries to rein in its spending.

Kathimerini understands that 10 members of staff lost their jobs last week and that another 50 to 60 may leave in the coming months. Some will be offered voluntary redundancy, while others will be fired.

New Democracy owes around 140 million euros to banks and suppliers and has cut its budget in half compared to two years ago.

Sources said that staff are being paid with one month delay, while payments to employees working at the Constantine Karamanlis Institute for Democracy, which the party also funds, are two months behind.

Amid rising debts and reduced state funding, coalition partner PASOK has also slashed its spending.

It now has just 10 permanent staff compared to about 150 five years ago.

ekathimerini.com , Saturday Jul 26, 2014 (17:32)  
Obama congratulates Tsipras, says US looking forward to helping Greece return to prosperity
Schulz warns Tsipras against straying from stance against Russia, ahead of Athens meeting
Varoufakis says Russia row not about sanctions, but proper consultation
New Democracy looks to pick up the pieces
Billionaires from Loeb to Vekselberg heed call of Cyprus banks
Haris Georgiadess day started with a protest and ended with a party. On the morning of Nov. 20, the finance minister of Cyprus attended a Bank of Cyprus Pcl shareholder meeting at which Jos...
German economy minister says Greek politics mustnt burden rest of EU
Greece should not burden the rest of Europe with its internal political debates, German Economy Minister Sigmar Gabriel said on Thursday, adding that Greece's own inequalities were to blame ...
Inside Business
SOCCER
PAOK strikes deal with Portugals Ricardo Costa
PAOK announced on Tuesday its agreement with Portuguese international defender Ricardo Costa. The Thessaloniki club added that the player is expected on Wednesday to undergo a medical test a...
BASKETBALL
Basket League favorites survive challenges on the road
PAOK consolidated its position in the top three of the Basket League with a triumph at AGO Rethymnou on Saturday, while Olympiakos and Panathinaikos emerged victorious from their tough away ...
Inside Sports
COMMENTARY
New Democracys challenges
There is a good deal of unease in New Democracy, and not just because of the defeat it suffered in Sundays polls. That had been expected, despite the optimistic and combatant messages from ...
EDITORIAL
Keep politics out of school
A few years ago the Greek Parliament ratified a law for a complete overhaul of the tertiary education system with a solid majority of 255 votes from 300 MPs. Since then, with the exception o...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Obama congratulates Tsipras, says US looking forward to helping Greece return to prosperity
2. Billionaires from Loeb to Vekselberg heed call of Cyprus banks
3. German economy minister says Greek politics mustnt burden rest of EU
4. Schulz warns Tsipras against straying from stance against Russia, ahead of Athens meeting
5. ECB Coeure tells Greece: stick to rules of game
6. Varoufakis says Russia row not about sanctions, but proper consultation
more news
Today
This Week
1. Greece wants a debt break, but what about its poorer neighbors?
2. Investors turn on Tsiprass campaign to end austerity in Greece
3. $11 billion wiped from Greek banks on nationalization threat
4. Varoufakis says Russia row not about sanctions, but proper consultation
5. ECB' Coeure tells Greece: stick to 'rules of game'
6. Schulz warns Tsipras against straying from stance against Russia, ahead of Athens meeting
Today
This Week
1. Greek Elections 2015 | LIVE
2. SYRIZA heads for historic victory but without majority
3. Greek Elections 2015 | LIVE
4. Greeks fork out nearly 5 pct of their incomes on telecom services
5. Greek Elections 2015: The day after | LIVE
6. Poll shows SYRIZA leading ND by 4 pct
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.