Only technical issues remain to be resolved between Greece and its creditors to complete the compliance report required by the Eurogroup to complete the fourth program review in its next meeting on June 21, a government official said on Monday after a teleconference.
Dromeus Capital, an emerging markets hedge fund firm, plans to invest 200 million euros in Greek commercial real estate through the launch of a new fund, taking advantage of undervalued properties, executives told Reuters.
Some of the measures for easing Greece’s debt will only be implemented if the country adheres to the commitments it has made on the primary budget surpluses, European Commission Vice President Valdis Dombrovskis said.
The restructuring of the bad loans of major enterprises is moving at snail’s pace, as banks have not yet achieved a satisfactory level of cooperation. Poor communication and different priorities and targets for each bank are creating obstacles, delays and postponements.
‘Umbrellas,’ an emblematic installation series by Greek sculptor George Zongolopoulos (1903-2004), was installed a few days ago in Egypt, some 120 kilometers outside Alexandria, in an area where a new city is being built. The city will include a ‘Greek Village’ inspired by the Aegean holiday island of Santorini. The project was commissioned by Dubai-based construction firm EMAAR, which became interested in the Greek artist’s work after seeing it featured in an article. The piece was put together in Athens and transported to Egypt. [George Zongolopoulos Foundation]