The 622 million euros that Public Power Corporation (PPC) has collected from the sale of the Independent Power Transmission Operator (ADMIE) will not remain in its coffers for long, since its total obligations to suppliers, contractors, market entities and others exceed 1.8 billion euros.
Properties are being sold at just a fraction of their “objective value” (the property price used for tax purposes), according to sale contracts uploaded on the Finance Ministry’s online platform gsis.gr.
The government is considering the introduction of a monthly limit – instead of the existing biweekly one – for cash withdrawals at 1,800 euros in the context of a partial relaxation of capital controls, spokesman Dimitris Tzanakopoulos said on Thursday.
Trading on the Greek bourse produced mixed results on Thursday, with banks and a number of other stocks sliding while other blue chips such as Aegean, OTE and Motor Oil led the majority of stocks higher.
The European Central Bank lowered the cap on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank by 600 million euros to 43.6 billion euros ($48.68 billion), the Bank of Greece said on Thursday.
Municipal sanitation workers on short term contracts clashed with police outside Parliament on Thursday after the government failed to offer them reassurances regarding their job security. The union representing local authority workers, POE-OTA, staged a 24-hour strike Thursday to draw attention to its demands as tons of garbage piles up on city streets amid staff shortages. During a rally, protesters vandalized the metal shutters blocking the entrance of the Interior Ministry, set fire to piles of garbage next to dumpsters and tried to barge into Parliament but were pushed back by police. [EPA]