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Troika officials praise Greece for progress with cuts
Greece has made progress in finding budget cuts needed to continue its bailout programme but not all work is done and inspectors will return in September for a final verdict, troika officials said yesterday.
Inspectors from the International Monetary Fund, the European Commission and the European Central Bank -- known as the troika -- concluded a visit to Greece yesterday, saying the talks with the new coalition government were productive.
Source and full story: Irish Independent, 6 August 2012
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Re: Troika officials praise Greece for progress with cuts
Wealthy Greeks, including politicians, hide their fortunes in foreign banks to avoid austerity. Many of them buy expensive properties in London.
Last month, Theodoros Pantalakis, former chief executive of Greece's Agricultural Bank, transferred €8m to London just before declaring his bank insolvent, and selling it to Piraeus Bank, Greece’s fourth-largest lender.
Pantalakis’s bank had given over €150m in bribes to Greek politicians to make sure that politicians supported the banker theft known as austerity.
http://edition.cnn.com/2012/08/05/business/greece-agricutural-bank/index.html?hpt=hp_t3