Despite early signs of hope, there was no letup for Greek stocks on Friday, which not only failed to claw back any of the ground lost earlier this week but ended with additional losses which took the benchmark even closer to the 500-point level, while the banks index slumped 29.32 percent in the week’s trade.
As the first phase of talks between Greece and its creditors draws to an end, International Monetary Fund chief Christine Lagarde on Friday stressed that debt relief is as important for Greece as the reforms that creditors are demanding, notably of the pension system.
The share of Greek-owned ships in the global fleet continued to grow in 2015, as they numbered almost 4,500 vessels – i.e. 19.63 percent of the world’s entire capacity in deadweight tons – and almost 50 percent of the fleet of the European Union, as Theodoros Veniamis, the president of the Union of Greek Shipowners, told the entity’s annual general meeting this week.
Public Power Corporation, Hellenic Petroleum (ELPE) and Edison are in negotiations which include the creation of a consortium that could constitute an alternative plan both for the reduction of PPC’s share of the domestic electricity market, as Athens has pledged to its creditors, and for the breaking of the PPC monopoly in lignite production.
A statement by the Chinese ambassador in Athens at a Hellenic Post event on Wednesday was seen by diplomatic sources as a clear indication of Beijing’s concern that the privatization of Piraeus Port Authority (OLP) could be about to enter another long period of delays after Cosco Pacific’s selection as the preferred bidder.
Greek farmers park their tractors to block a road in front of the White Tower, during a protest in Thessaloniki, north Greece,on Friday. Greek farmers protest against the government's proposed tax and pension.