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Tuesday, July 7, 2015

Greek Political Leaders’ Official Announcement

Greece’s political party leaders summit concluded after almost 7 hours of talks with an agreement for a common political front to find a solution and reach a deal with international creditors, following the “No” vote result in Sunday’s referendum.

Under the supervision of the President of the Hellenic Republic, Prokopis Pavlopoulos, the SYRIZA-ANEL coalition agreed with New Democracy, “To Potami” and PASOK to cooperate in the negotiation proposal. The Greek Communist Party (KKE) did not agree and reiterated its long held position that it rejects any bailout deal with austerity measures. Golden Dawn party leader Nikos Michaloliakos did not participate in the meeting and Golden Dawn is not part of this common front.

The Presidency of the Hellenic Republic released the official announcement signed by the 5 political leaders.

“The political leaders’ recent decision by the Greek people is not a mandate for rupture but a mandate for the continuation and the strengthening of the effort to achieve a socially just and financially sustainable agreement,” the announcement read. “The government takes on the responsibility to continue negotiations toward this direction. And every political leader will contribute respectively in the framework to their institutional and political role.”

The immediate priority is to secure liquidity for Greece’s financial system.

Beyond this first need, the announcement laid out the common goals that they wish to achieve. Namely, securing sufficient financing for Greece and having credible reforms with the least possible recessionary effects. Moreover, the 5 party leaders want a strong growth program to combat unemployment and promote entrepreneurship, and finally, a meaningful discussion to find ways to deal with Greece’s debt sustainability challenge.

Greek Prime Minister Alexis Tsipras will inform the leaders today Tuesday’s Euro Summit developments.

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IMF Chief: The Fund Is Ready to Help Greece if Athens Requests It

The International Monetary Fund (IMF) is watching developments in Greece and is prepared to assist Athens, after voters shot down the bailout terms in a referendum on Sunday, IMF Managing Director Christine Lagarde said on Monday.

“The IMF has taken note of yesterday’s referendum in Greece. We are monitoring the situation closely and stand ready to assist Greece if requested to do so,” the IMF’s top official said.

(source: sputnik)

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For our Friends filipino in Germany, German Tourists Not Affected By Greek Debt Crisis

The news about Greek economy’s vital sector, tourism, are extremely encouraging, according to several European travel associations.

The German Travel Association (DRV) revealed on Monday that despite Greece’s current financial uncertainty, German tourists continue to vote for the Greek earthily paradise for their summer holidays this year.

The DRV stated: “Greece continues to be very popular with Germans – package tourists are sticking with their travel plans even after the July 5 referendum… and are not canceling their reservations.”

Germans do not seem to be affected at all by the avalanche of libelous headlines about the current Greek financial turmoil and “Greece this summer is again among the most popular destinations for them,” the travel association said.

However, DRV advises holidaymakers to take some precautions, such as bringing “enough cash” apart from their credit and debit cards, given the current capital controls imposed in Greek banks since last week, in order to be ready to fulfill any financial obligation arises during their vacation.

The DRV also reassures that even in case of a currency change, the euro will continue to be accepted to pay for purchases in Greece.

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Monday, July 6, 2015

Remittance centers in Greece will NOT open 7th of July 2015

Remittance centers in Greece  stopped any transactions from June 29 until the 7th of July 2015. 

Because Greek Banks will remain closed until Wednesday, July 8, All Remittance centers in Greece  will wait first the Greeks Bank to open and after they will start operate again for OFWs to send money back to the Philippines
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Greek Banks will remain closed until Wednesday, July 8, ATMs Will continue Operate with 60 euro per day

Hellenic Bank Association President Louka Katseli said Greek Banks will remain closed until Wednesday. ATMs Will continue Operate with 60 euro per day for the pensioners and for cash card holders. The decision comes before Monday’s European Central Bank‘s verdict on whether it will increase Emergency Liquidity Assistance (ELA) to Greece, which is currently capped at 89 billion euros.

The daily withdrawal limit will remain at 60 euros. Pensioners who did not collect the 120 euros they were eligible to claim last week can collect it this week. However those that did collect the sum are not eligible to collect again this week, according to Deputy Finance Minister Dimitris Mardas.

“We decided to extent the bank holiday for two days,” said Hellenic Bank Association President Louka Katseli. “If there is an ECB decision that allows us to change something for pensioners, we will change it. The goal is the normalization of the market.”

The same bank branches that worked last week will work during the bank holiday as well. Mardas said that there will soon be a New Act of Legislative Content on the matter.

"Banks can continue to allow withdrawals to 60 euros until Friday if the ECB continues to have" frozen "emergency aid, told the New Finance Minister of Greece

Cabinet members do not know when banks will reopen, despite the fact that the Greek government had announced that banks will open on Tuesday, July 7, after Sunday’s referendum.

Speaking on Greek television, Tsipras said that if the referendum result is a “No” to the creditors’ bailout agreement, he will have a better ability to renegotiate and bring back an improved agreement within two days. However, he did not say when banks will reopen.

Former Finance Minister Yanis Varoufakis told BBC news that banks will open on Tuesday, certain that by July 7 Greece will have a deal with creditors.

State Minister Nikos Pappas avoided to give an answer to reporters when banks will open, saying that this will depend whether a deal is signed or not.

The European Central Bank (ECB) has stopped providing liquidity to Greek banks on June 28, two days before the bailout program expired. The central bank is expecting the results of Sunday’s referendum in order to decide if it will keep infusing cash to Greek banks through the Emergency Liquidity Assistance (ELA) scheme.

Josef Bonnici, a member of the ECB board of directors, said that “this will depend on Greece’s decision,” adding that the ECB cannot provide emergency liquidity to Greece ad infinitum.

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Euclid Tsakalotos Is the New Finance Minister of Greece

Greek Prime Minister Alexis Tsipras has appointed Euclid Tsakalotos as Greece’s new Finance Minister after the resignation of Yanis Varoufakis.

Tsakalotos was Alternate Minister of International Financial Affairs and had been appointed as chief of Greece’s negotiating team after lenders and several Eurozone finance ministers had expressed their displeasure with Varoufakis’ attitude.

Tsakalotos, a close friend of Yanis Varoufakis, was born in 1960 in Rotterdam, the Netherlands. He studied Economics, Politics and Philosophy at the Universities of Oxford and Sussex, and completed his PhD in 1989 at the University of Oxford.

From 1989 to 1990, he worked as a researcher at the University of Kent and later taught at the Universities of Kent (October 1990 – June 1993) and Athens University of Economics and Business (October 1994 – September 2010). Since 2010, he is Professor of Economics at the National Kapodistrian University of Athens.

He is the author of six books and editor of three edited volumes. He has published numerous articles in economic journals, as well as political articles in newspapers and magazines. His published articles also include participation in fifteen collective volumes.

In May 2012 he was elected a SYRIZA MP in Athens and he was re-elected in January 2015. He served as a member of the Central Political Committee and the Political Secretariat of SYRIZA and member of the Executive Committee of POSDEP (Hellenic Federation of University Teachers’ Associations). He is a member of SYRIZA‘s Central Committee.

He is the nephew of decorated General of the Greek Army Thrasyvoulos Tsakalotos who participated in World War I, the Greco-Turkish War of 1919–1922 and World War II, rising to become Chief of the Hellenic Army General Staff (HAGF) and played a significant role during the Greek Civil War.

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Greece Free Public Transportation in Attica Region continue until July 10

Greece Alternate Minister of Infrastructure, Transport and Networks Christos Spritzis announced today  Monday that the Greek government has decided to make public transportation in the Attica region free to all commuters for one more week.

The Athens metro, buses, trolley buses, ISAP railway and tram we be available to commuters at no cost through July 10 in an effort to make it easier for the Greek people to travel to their destination amidst the confusing situation provoked by the recent imposition of capital controls in the country’s banks.

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Filipina Mother in Greece wanted to commit suicide because her savings in the Greek bank for son's tuition fee can not send in the Philippines

Unknown peson had informed with email the service center Cyber ​​Alert for the intentions of the Filipina , who finally spotted by the police men, shortly before commit suicide.

The Department of Electronic Crime of Greek Police, after immediate and coordinated action, prevented another case of suicide intent, which was manifested by the Internet user.

Thorough online - police investigation, Police identify digital assets and data of the individual, in order to immediately identify and further ensure the mental health and physical integrity.

Result of the investigation was the identification of electronic trace and geographical location of  the  Filipina residence in Greece. In collaboration with police officers of the Police Department of the Ambelokipoi Athens, Officers went and found the Filipina woman, who was in good health.

Tsismosaonline.com reporter managed to contact with the Filipina Mother in Greece and asked why she attempted  to commit suicide. The mother made the following statement.

Philippines implements a “no late payment” policy wherein students unable to pay their tuition on time are forced to take a leave from the university. My savings in the bank here is for my son's tuition fee to be send in the Philippines and now i can't even get it all and worst can not send it too.

For Tsismosaonline.com 6-7-2015 Filipino Gr

Recall that for such cases, citizens can contact the Department of Electronic Crime, the following contact details:

Phone: 111 88
Sending e-mail to: ccu@cybercrimeunit.gov.gr

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German Chancellor Angela Merkel Call Urgent Eurozone Leaders Summit on Tuesday

Following the overwhelming rejection of the institutions’ proposed bailout deal on Sunday’s Greek referendum, French President Francois Hollande and German Chancellor Angela Merkel have called for the Euro’s leaders to convene at an urgent Eurozone leaders summit on Tuesday.

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Greece Votes No: Experts Respond What Happens Next

The Greek people have voted, saying a resounding No to the terms of the bailout deal offered by their international creditors. What will this mean for Greece, the euro and the future of the EU?  Here’s what experts say will happens next:

Costas Milas, Professor of Finance, University of Liverpool.

Greek voters have confirmed their support for their prime minister, Alexis Tsipras, who now has the extremely challenging task of renegotiating a “better” deal for his country.

Nevertheless, time is very short. Greece’s economic situation is critical. On July 2, Greek banks reportedly had only €500m in cash reserves. This buffer is not even 0.5% of the €120 billion deposits that Greek citizens have to their names. It is only capital controls preventing Greek banks from collapsing under the strain of withdrawal.

Basic mathematical calculations reveal how desperate the situation is. There are roughly 9.9m registered Greek voters. Assume that – irrespective of whether they voted Yes or No – some 2.8m voters (that is, a very modest 28.2% of the total number of registered voters) decide to withdraw their daily limit of €60 from cash machines on Monday morning. Following this pattern, banks will run out of cash in three days and therefore collapse (note: 3 x 2.8m x 60 ≈ 500m).

There is therefore very little time for the Greek government to strike the deal with their creditors that will instantaneously give the ECB the “green light” to inject additional Emergency Liquidity Assistance (ELA) to Greek banks to support their cash buffer and save them from collapse. In other words, Greece does not have the luxury of playing “hard ball” with its creditors. An agreement has to be imminent.

Financial markets, expected to start very nervously today Monday morning, will probably stay relatively calm as the reality of the economic situation spelled out above is more likely than not to lead to some sort of agreement (provided, of course, that Greece’s creditors will listen to Tsipras). Whether this agreement is good for the Greeks, this is an entirely different story.

Richard Holden is Professor of Economics at UNSW Australia.

By calling this referendum and shutting off negotiations for nearly a week, the Syriza party has brought the Greek banking system very close to insolvency. Greece can’t print euros so Greek banks will soon need to issue IOUs, or the demand for money will not be met, leading to utter chaos. Who will accept these? How will they be valued? These are big, scary questions to which nobody knows the answer.

By voting No, Greece has tied the hands of European Central Bank president Mario Draghi. As a matter of politics there’s not much he can do in the short-term and with Greek banks insolvent he may not be able to do anything simply as a matter of law.

At least one if not all the major Greek banks are likely to fail early this week. When this happens, the Greek economy will essentially come to a halt. Nobody knows what will happen, but it surely won’t be good.

The other depressing consequence of the No vote is that Greek finance minister Yanis Varoufakis’s promise to resign if his fellow citizens voted Yes will not come about. It has been abundantly clear that Syriza representatives have been miles out of their depth from the time they took office.

Everyone with real knowledge and experience of financial markets and liquidity crises told them to stop playing chicken with the IMF and ECB. They should start listening immediately.

George Kyris, Lecturer in International and European Politics, University of Birmingham.

A historic referendum for Greece and Europe tells a very interesting story. While results indicate that a sizeable 61% rejected existing policies towards the Greek crisis, polls have consistently shown that the majority of Greeks want to remain in the eurozone. This exposes the success of Syriza based on its populism, which has allowed Greeks to think that they can stay a credible member of the EU, while at the same time taking unilateral decisions and refusing to recognise the obligations of their eurozone membership.

This not only creates unrealistic expectations but it is also a very sad result for the relationship between the EU and its citizens, which, once again, falls victim to national governments’ short-term strategies. In this climate of unrealistic expectations, the Greek government embarks on a mission impossible to secure a better deal for the country, where economic, political and social peace has been seriously undermined in the past few months and week especially.

The first reactions of Greece’s EU partners to the No vote are far from positive.

In his address after the referendum, Alexis Tsipras indicated the formation of an ad hoc national council with the participation of major political parties to prepare the negotiation strategy. The next few days will show if a more united Greek front is possible and capable of improving things for the crisis-hit country.

Ross Buckley, Professor, Faculty of Law at UNSW Australia

The Greek people have decisively voted No to more austerity imposed from Frankfurt. This is unsurprising. Voters rarely vote for higher taxes and lower pensions. However other polls reveal clearly that the Greek people overwhelmingly also want to retain the Euro. So this is one giant gamble. The Greeks are betting that the potential damage to other countries, especially Spain and Italy, and thus to the very fabric of the Euro, is simply too great for the Eurozone to eject Greece.

When voting on Sunday most Greeks probably felt they were reclaiming control of their own economy. However, paradoxically, the No vote has done the opposite. Greece’s short to medium term economic future is now in the hands of others, particularly Germany and France.

Greek banks today are all but out of Euros. Normally in this situation a nation’s central bank simply prints more currency. Greece can’t do that, as no one country controls production of the Euro. So the options over the next month or so seem to be that either Germany, France and the European Central Bank blink, and extend more credit to Greece, or Greece’s financial system will cease functioning and ultimately it will be forced to print drachma.

Remy Davison, Jean Monnet Chair in Politics and Economics at Monash University.

With eyes wide shut, Prime Minister Alexis Tsipras has sent his country to the wall.

The “OXI” voters in Athens last night were in full party mode. But in the cold, harsh light of day, the depressingly-painful hangover begins.

61% of voters will wish they didn’t drink so much of the OXI Kool-Aid. Especially when the realisation hits voters that they can only get €60 out of the ATM. Or €50, as €20 notes are now scarce.

The next hurdle for Athens is ominous. The government has a $3.5 billion repayment due to the ECB in mid-July. Defaulting on the 30 June IMF payment was not as serious as the media made out; the IMF default process is slow and ponderous. Conversely, the ECB controls Greece’s capital lifelines. Its emergency lending assistance (ELA) facility has kept Greek banks liquid up to this point. However, the ECB’s Governing Council and the Eurogroup ministers are unlikely to be sympathetic if Tsipras and Varoufakis attempt to renege on the ECB debt repayments.

A deal will ultimately be struck or Greek banks will not reopen without assistance from the ECB. Europe’s central bank will not refinance Greek banks endlessly, as the absence of capital controls before they were imposed on 29 June saw billions of euro offshored within days.

Tax evasion remains a systemic problem for Greece. A Swiss media source has reported that Athens is quietly offering amnesty from prosecution to Greek tax evaders, who have squirrelled away their euro in Swiss bank accounts, if they pay 21% tax.

A Grexit is still extremely unlikely. If there is one thing that government and opposition parties agree upon, it is that there will be no attempt to depart the eurozone. It is not in Greece’s interest, and there is no legal mechanism with which to do so.

An extra-legal attempt (i.e., outside the EU treaties) by a qualified or absolute majority of EU member governments to vote for Greece’s ejection from the eurozone would result in a Greek application to the European Court of Justice for an injunction. A hearing by the ECJ on an attempt to remove Greece from the eurozone could potentially take two years or more, given the complete absence of precedent and the considerable time and resources required to compile briefs for a case of such complexity. Financial commentators who believe in a high probability of a Grexit are either deluded, or have little comprehension of how the institutional mechanisms and procedures of the EU actually work.

The tragedy is that Tsipras and Varoufakis did not need initiate this crisis, as Greece and the IMF were only $400 million apart in their negotiations before the Greek government walked out. Tspiras and Varoufakis have spun the recent IMF report, which calls for debt restructuring, as somehow supporting their side of the story.

In reality, the IMF has been heavily critical of the Tsipras-Varoufakis government and its unwillingness to undertake the requisite, difficult structural reforms that Greece needs, including further privatisation, industry deregulation and competition policy reform, rigorous taxation restructuring in the Greek merchant shipping industry, and tackling offshore tax evasion. Why a far-left government in Greece wants to help rich Greeks to avoid tax defies logic.

In June, a reasonable compromise may have been reached between Athens and the Eurogroup. But it’s unlikely Euro Area ministers will have much sympathy to spare in the next round of negotiations.

Greeks may have voted with an overwhelming “OXI”, but it’s unlikely they realised they might also be voting for capital controls, insolvent banks and a financial system on the verge of meltdown.

(This article first appeared on The Conversation.)

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European Commission Releases Statement after NO Result in Greek Referendum

The European Commission released a statement on the Greek referendum result that turned down a bailout deal that was partly designed by the Commission.

Here is the full statement.

The European Commission takes note of and respects the result of the referendum in Greece.

President Juncker is consulting tonight and tomorrow with the democratically elected leaders of the other 18 Eurozone members as well as with the Heads of the EU institutions. He will have a conference call among the “Euro-Institutionals” (with the President of the Euro Summit, the President of the Euro Group and the President of the European Central Bank) on Monday morning. He intends to address the European Parliament in Strasbourg on Tuesday.

Earlier today Martin Schulz, the President of the European Parliament warned of difficult future situations for Greeks following their choice on Sunday.

An urgent Eurogroup Working Group meeting will also take place today Monday.

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Greek Prime Minister Tsipras Calls Greek Party Leaders Emergency Meeting Ahead of Negotiations

After a week of strong divisions and accusations, Greece political leaders will have to turn the page and work together starting tomorrow.

Prime Minister Alexis Tsirpas met with the President of the Hellenic Republic, Prokopis Pavlopoulos, to ask for a meeting with Greece’s party leaders tomorrow. The meeting will take place on Monday morning.

“Greece was and will be an integral part of the European Union” Pavlopoulos said during the meeting and added that Greece is fully willing and wanting to stay in Europe and the Eurozone.

Tsipras had announced his intention to meet with Pavlopoulos on this matter earlier during his televised speech on the NO vote result. The prime minister hopes to get the recommendations of the other party leaders ahead of the negotiations. The meeting is also an effort to promote unity within Greece, which Tsipras called for earlier today and in the days leading up to the referendum.

“Regardless of what you voted today, from now on we are all one. And it is our duty to do our best to overcome this crisis and elevate Greece again” he said during his speech.

The prime minister also reaffirmed the governments intention to return to negotiations to strike a deal with the international creditors.

“We all know that there are no easy solutions,” Tsipras said. “There are however fair solutions. There are are sustainable solutions. If both sides want it”.

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Greece Finance Minister Yanis Varoufakis Resigns

Yanis Varoufakis has resigned from his post as Greece minister of finance, the economics professor and SYRIZA member announced.

Here is his full statement titled “Minister No More!” as it was posted on his site:

The referendum of 5th July will stay in history as a unique moment when a small European nation rose up against debt-bondage.

Like all struggles for democratic rights, so too this historic rejection of the Eurogroup’s 25th June ultimatum comes with a large price tag attached. It is, therefore, essential that the great capital bestowed upon our government by the splendid NO vote be invested immediately into a YES to a proper resolution – to an agreement that involves debt restructuring, less austerity, redistribution in favour of the needy, and real reforms.

Soon after the announcement of the referendum results, I was made aware of a certain preference by some Eurogroup participants, and assorted ‘partners’, for my… ‘absence’ from its meetings; an idea that the Prime Minister judged to be potentially helpful to him in reaching an agreement. For this reason I am leaving the Ministry of Finance today.

I consider it my duty to help Alexis Tsipras exploit, as he sees fit, the capital that the Greek people granted us through yesterday’s referendum.

And I shall wear the creditors’ loathing with pride.

We of the Left know how to act collectively with no care for the privileges of office. I shall support fully Prime Minister Tsipras, the new Minister of Finance, and our government.

The superhuman effort to honour the brave people of Greece, and the famous OXI (NO) that they granted to democrats the world over, is just beginning.

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Sunday, July 5, 2015

Greek Prime MinisterTsipras Promises Solution to Greece Debt Crisis in 48 hours

Greek Prime Minister Alexis Tsipras said that the efforts his government put toward securing the emergency Euro Summit on Monday has proved to be a “success.”

Eurozone country leaders announced a Monday summit to resolve Greece’s prolonged debt crisis that threatens the country’s exit from the common currency bloc.

“We hope that the final negotiations take place at Europe’s highest political level and we are working toward the success of this summit,” Tsipras’ office said in a statement on Friday, a day after citizens rallied on the streets of Athens, pressing the government for a solution to their hardships within the Eurozone.

“The leaders’ summit on Monday is a positive development on the road toward a deal,” the Prime Minister’s office noted, adding that those who were “betting on a Greek crisis and terror scenarios” will be proven wrong.

Tsipras is currently in St Petersburg, Russia, where he will meet with Russian President Vladimir Putin on Friday (today), taking part in talks regarding the construction of the “Greek Stream,” an extension of the TurkStream natural gas pipeline project that will provide Europe with natural gas, as well as Greece’s potential participation in the new Shanghai-based BRICS bank.

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The meeting of Greek bankers was completed,President said : Bank ATMs Will Operate Normally Until Monday

The meeting between Greek Finance Minister Yanis Varoufakis, government Vice President Yiannis Dragasakis, Deputy Finance Minister Dimitris Mardas and Greece’s bankers was completed.

The meeting was attended by National Bank of Greece Chair Luka Katseli and Chief Executive Leonidas Fragiadakis, Nikos Karamouzis and Fokion Karavias from Eurobank, Vasilis Rapanos and Dimitris Mantzounis from Alpha Bank, Anthimos Thomopoulos from Piraeus Bank, Alexandros Antonopoulos and Ioannis Gamvrilis from Attica Bank, Christos Gortsos from the Hellenic Bank Association and Theodoros Mitrakos from the Bank of Greece.

According to Hellenic Bank Association President Louka Katseli, Greek banks’ ATMs will operate normally until Monday, July 6. “After that, everything depends on the European Central Bank,” she said.

In an interview to Greek radio, Varoufakis commented: “There will be no problem with ATMs by Monday. This week is problematic, however it consists an investment toward a sustainable agreement. The Greek state will be able to pay pensions and salaries at the end of the month since we will reach an agreement on Monday, one way or another. An interesting notice is that the country’s revenues have not collapsed as we are currently expecting a result. The problem can only be found in cash.”

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Former Greek Prime Minister Antonis Samaras Resigns from ‘ND’ Party Leadership after NO Win in Greek refrendum

Former Greek Prime Minister Antonis Samaras resigned from the leadership of its party after a landslide win of the NO vote his party strongly opposed in the Greek referendum.

This is a breaking news story, updates to follow.

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Urgent Euro Working Group Meeting tomorrow Monday, say sources in Brussels

The Eurogroup Working Group will convene tomorrow, following the outcome of the Greek referendum say sources in Brussels

Proceeding this meeting, there will be a Eurogroup phone conference with the nineteen Eurozone finance ministers also discussing Sunday’s results.

The first official estimations for the referendum show a major victory for the NO vote. Tomorrow’s meetings are likely to shed light on Greece’s as well as the Eurozone’s future.


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Photos: No supporters celebrate.Two thirds of the ballot papers have now been counted, and the No campaign is still holding firm with over 61% of votes.

Supporters of the no campaign are starting to celebrate in Athens, with almost 40% of votes counted:

No camp supporters are also gathering in Syntagma Square, site of the Greek parliament.

More than 35% of the ballot papers have now been counted, and no is still firmly ahead with 61% of the votes. The landslide is still on course.

Two thirds of the ballot papers have now been counted, and the No campaign is still holding firm with over 61% of votes.

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First Official Projection Says at Least 61% of Greeks Voted ‘No’ in Referendum

A first official projection of Greece’s referendum outcome, based on early counting, said that at least 61% of Greeks voted “no” to creditors’ demands on Sunday, an outcome that—if confirmed—would set the country on a collision course with the rest of the eurozone.

The projection, announced by the company Singular Logic, the official partner of Greece’s interior ministry in carrying out the referendum, was announced after some 20% of the vote had been counted.

“The estimate from Singular Logic is that the result in favor of ‘no’ will exceed 61%,” a spokesman for the organizing company said.

The official projection, if confirmed when all votes are counted, points to a heavier-than-expected victory for the “no” campaign against the austerity policies demanded by Greece’s creditors: the rest of the eurozone and the International Monetary Fund. Voter turnout, based on the partial counting of votes, was reported at 58%.

Four opinion polls conducted during Sunday by private broadcasters had pointed to a narrower majority for the “no” camp.

The projected outcome would strengthen the domestic standing of Greek Prime Minister Alexis Tsipras, who campaigned vehemently for Greeks to reject lenders’ terms for further bailout funding.

Figures published by the interior ministry showed 61% of those whose ballots had been counted voting "No", against 39% voting "Yes".
Greece's governing Syriza party campaigned for a "No", saying the bailout terms were humiliating.
The "Yes" campaign warned this could see Greece ejected from the eurozone.
Some European officials had also said that a "No" would be seen as an outright rejection of talks with creditors.
But Greek government officials have insisted that a "No" vote would strengthen their hand and that they could rapidly strike a deal for fresh funding in resumed negotiations.

Greek banks will reopen by Tuesday, they say. 

The country’s government faces a race to secure financing before a major bond held by the European Central Bank falls due on July 20. Default could precipitate an escalation of Greece’s already severe financial and economic paralysis.

German Chancellor Angela Merkel will fly to Paris Monday for talks on Greece with French President François Hollande, her spokesman said after polls closed in Greece.

The referendum appeared to have split Greece along lines of age, affluence and ideology. The young, many pensioners, the poor and those with pronounced left-wing or nationalist right-wing views were leaning toward a “no.” Middle-class, middle-aged and politically centrist voters were more likely to have voted “yes” to protect Greece’s place in the eurozone.

Tsismosonline.com  team continue to monitor the news. We will continuously update on anything regarding what will happen monday morning.

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Saturday, July 4, 2015

Greek Citizenship bill approved for second-generation filipinos and other immigrants a few days before Greece go bankrupt

A new bill which would lead to some 100,000 second-generation filipinos and other immigrants being granted Greek citizenship was approved by a parliamentary committee a few days before Greece go bankrupt.

The Greek bill includes a provision for longterm residence permits to be given to children of immigrants born in Greece when they turn 18.

172 members of parliament (MPs) voted YES, 
91 MPs voted NO, while 4 were present (did not vote) 
The 172 votes include votes from SYRIZA, PASOK and POTAMI. 
The 91 MPs who voted NO are from Nea Dimokratia, Chrysi Avgi. KKE (Communist Party of Greece) did not vote. 

What is the next step? 

As we understand, for the law to take effect, it has to go through the usual process: it has to be signed by Prime Minister Alexis Tsipras and implementing government agencies. Then it will go to the office of the president of the Hellenic Republic Prokopis Pavlopoulos for his signature. Once it is published in the government gazette, only then the law gets to be implemented. 

Meanwhile, tsismosonline.com  team together with other organisations continue to monitor the process. We will continuously update on any development regarding this bill and after Greece Debt Crisis ends or exit from the eurozone.

Second Generation Citizens what is it exactly?

The term "second-generation" extends the concept of first-generation by one generation. As such, the term exhibits the same type of ambiguity as "first-generation," as well as additional ones.

Like "first-generation immigrant," the term "second-generation" can refer to a member of either:

the second generation of a family to inhabit, but the first to be natively born in, a country, or
the second generation to be born in a country.

The Greek bill stipulates that applicants must have been enrolled at a Greek primary school and that their parents must have lived legally in Greece for five years prior to the applicant’s birth.

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