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New Haircut Scenario

The Greek debt is not viable, unless there is a new "haircut" is the message from a study published by DZ bank, which believes the IMF assessments are over-optimistic.

The Greek debt will fluctuate around 160% of GDP, as long as the present interest rates are maintained , is the point the bank's economist Daniel Lenz made to German newspaper "Die Welt." Dr. Lenz added that debt will be at 143% in most optimistic scenario, according to which starting in 2014 creditors will forgo interest payments.

Church to Hire Unemployed

The Dioceses of the Church of Greece, Crete, and the Dodecanese will now be given the opportunity to hire unemployed persons with five month contracts within the framework of a European program.

LARCO Protesters Clash with Police

Riot police used teargas to disperse protesting LARCO miners and metal workers that proceeded to take over the a national highway at 13.00 this afternoon, in protest over the possible shutdown of the company.

Venizelos Attacks Die Zeit

Government vice president and foreign minister Evangelos Venizelos categorically refuted an article in German newspaper Die Zeit, according to which he had asked European Central Bank board member Joerg Assmusen to alter data on the Greek deficit.