Tag Archives: Greece

Greece: Re-positioning The Country as a global maritime capital (Study by Ernst & Young)

The PDF Study: Greece Shipping Survey


Thessaloniki Port: 4 Companies Expected to Bid for the 67% stake

Four bids are expected to be tabled this week for the 67 percent stake in Thessaloniki Port Authority.

The deadline of the tender – which has been going on since the summer of 2014 – is this Friday at 7 p.m. and the binding bids will be tabled at Morgan Stanley in London.

The offers will come from the consortium comprising Deutsche Invest Equity Partners, Terminal Link (a subsidiary of CMA CGM) and Russian-Greek investor Ivan Savvidis’s group, as well as from Dubai Ports World, Japan’s Mitsui & Co, and Philippines-based International Container Terminal Services.

The preferred bidder will have to implement investments of at least 180 million euros within seven years.

Talk of ties between any of the above candidates and the Cosco group, which has acquired Piraeus Port Authority, is refuted. Sources close to Cosco noted to Kathimerini that “the Chinese group is examining the form of its reaction to the discrimination that took place [at its expense] as in Piraeus Port only 51 percent was sold with another 16 percent due under certain conditions, while in Thessaloniki Port 67 percent is conceded with far fewer commitments.”

Source: Ekathimerini


Report by Piraeus Bank: A Casual Observer’s Guide to the Greek Economy (May 2015)

The Piraeus Bank (Greece) has just published this report being introduced as:

A casual observer of the Greek political discourse should be excused for feeling completely confused by the cacophony created by a litany of the comments regarding the issue of Greek sovereign debt sustainability, re-negotiation, alleviation or even repudiation. While these comments reflect the importance of these issues for the future of the Greek economy, the way this dialogue is conducted obscures rather than clarifies the true nature of the problems that need to be addressed.

In what follows, we focus on some of the “hot topics” relevant to the Greek economy:

  • What has been the course of events since 2010
  • Where we stand now regarding the business cycle
  • What is the cyclical position of the Greek economy

What is the “state of affairs” regarding the Greek debt

Here is the full report (PowerPoint format):