Alpha bank denies to grant the loan – 850 workers in limbo _Eleftherotypia newspaper

Alpha Bank’s legal team denied the grant of the 8 million euros to X.K. TEGOPOULOS, that had been approved over a month ago. This development has become known to the editors representative, Pano Soko, by the publisher Mania Tegopoulou yesterday, November 1st.

It has to be reminded that this specific loan was intended to cover part of the workers in X.K. wages, who remain without pay since the 1st of August and for the financing of the so called business “recovery plan” through voluntary redundancies. During the recent period, about 30 workers have declared their will to leave, but the accounting office has been declaring that it is unable to cover the cost for their secede.

In another development, the very same day, Peiraeus Bank informed the general manager A. Polykandrioti, that through the “Argos” agency, it shall keep the income of “Eleftherotypia” from the sales of the newspaper, blockaded despite the fact that, as admitted by the bank, its economic requirements are covered by the half of this sum. This development makes it impossible for X.K. to proceed in lending from Ethniki Bank (National Bank of Greece), since the latter had demanded percentage of the sales revenues in order to grant a loan.

Yesterday afternoon, the representatives of the workers informed their colleagues regarding these developments, while about at the same time the publisher was having a discussion with the directors of the newspaper, Kyra Adam and Vaggelis Panagopoulos, as well as with the finance director, Antoni Polykandrioti.

Even though the initial intention of the publisher was to cancel the release of today’s -Wednesday 2 November- edition of the newspaper, since the workers have been already working without pay, but now even without the prospect of being repaid due to the denial of the bank to grant the loan, it was finally decided that the edition will be circulated today (almost) as usual.

The general assembly of the workers at 15.00 pm today, that had been called for days ago, will proceed as planned. Nevertheless, the priorities of our claims under the new circumstances will have to be reevaluated according to the recent developments.

The negative developments regarding the non granting of the lawn are considered to aim to silencing of “Eleftherotypia” newspaper.

This article was originally posted in the blog of Panos Sokos, representative of Eleftherotypias newspaper journalists this morning, Wednesday 8.00am, in


2 thoughts on “Alpha bank denies to grant the loan – 850 workers in limbo _Eleftherotypia newspaper

  1. konstantinos says:

    it’s “loan”, not “lawn”


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