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How the world sees Greece
Tuesday, December 31, 2013
Greek Returns Registration Plates on Horseback
Greek ReporterGreek Returns Registration Plates on HorsebackGreek ReporterA Greek man from Amaliada, western Greece chose a rather original and impressive way to give back his plates. He arrived at his local tax office on horseback. He stated that he can no longer afford to run a car and that he prefers to use his horse ...Greek ex-minister gets suspended jail termNews & Observerall 46 news articles »
Greece to exit bailout scheme this year: PM
Greece to exit bailout scheme this year: PMTaipei TimesGreece will exit its bailout program this year without needing a third aid package, Greek Prime Minister Antonis Samaras announced on Monday, saying that citizens could look to the new year with confidence. Samaras told long-suffering Greeks that the ...
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Greek architecture inspires special art project at Tye River
which exemplify the concept of “women who hold up under pressure,” Van Koba said. During a nine-day trip to Greece last summer, funded in part by a Smyth Teacher Travel Award she won, Van Koba had the opportunity to learn more about Greek ...
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Troika seeks liberalisation of Greek pharmacy sector, MoH targets 60% generics in hospitals in 2014
The source reports that the MoH, while maintaining its tough position against the troika's demands for this sector, is prepared to consider allowing some OTC products to be made available outside pharmacies. MoH set to impose target of 60% ...
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Latvia joins eurozone at midnight despite little public enthusiasm
Single currency union marks 15th anniversary by expanding – 18 months after crisis in Greece threatened breakup
The eurozone will gain an extra member at midnight on Tuesday as Latvia becomes the 18th country to join the single currency union, despite little obvious public enthusiasm for the move.
Latvia's arrival gives eurocrats in Brussels an extra reason to toast in the new year. Eighteen months after the threat of Greece quitting the euro gripped financial markets, the eurozone is marking its 15th anniversary by expanding, not fracturing.
With final preparations completed, outgoing prime minister Valdis Dombrovskis will ceremonially withdraw the first euro note from an ATM shortly after midnight.
European commission president José Manuel Barroso offered his congratulations to Latvia on Tuesday as households and businesses prepared to wave goodbye to their currency, the lats.
"This is a major event, not only for Latvia, but for the euro area itself, which remains stable, attractive and open to new members," Barroso said. "For Latvia, it is the result of impressive efforts and the unwavering determination of the authorities and the Latvian people. Thanks to these efforts, undertaken in the aftermath of a deep economic crisis, Latvia will enter the euro area stronger than ever, sending an encouraging message to other countries undergoing a difficult economic adjustment."
City analysts were less effusive. ING pointed out that the eurozone was still trying hard to repair the constructional mistakes of the past, and that the former Soviet state could bring its own problems. "While some look forward to welcome another stability-oriented government, others fear that Latvia could become the next Cyprus," ING said.
Mark Galeotti, a professor at New York University, has also predicted that suspect funds could flow westward into Latvian banks. "Immediately after Latvia joins the eurozone I imagine we're going to see an actual spike in dubious money flowing in," Galeotti, who researches organised crime in the former Soviet Union, told AP.
Within Latvia the eurozone crisis has left some people edgy about the move. Recent opinion polls have shown that a majority of Latvians oppose the move, with just a fifth strongly in favour.
Andris Liepins, 51, a shop owner in the capital Riga, told Bloomberg he was "convinced" prices will rise under the new currency, and also fears paying for future eurozone bailouts.
"Why does a country have to pay other countries' debts?" Liepins added.
And in a village north-east of Riga, Leonara Timofejeva, who tends graves to earn the minimum wage of 200 lats (€284) per month, also predicts inflation. "Everyone expects prices will go up in January," she told AFP.
Raoul Ruparel, head of economic research at Open Europe, said Latvia would be an "interesting test case" as to whether a small country could join the euro region and thrive. He said Brussels would be monitoring the country closely for signs of instability, as "they don't want a repeat of what happened before".
Latvia has already had a taste of eurozone-style austerity. Wages were slashed and unemployment soared after the 2008 financial crisis struck. After a long credit-fuelled boom, Latvia slumped into a deep recession.
The economy is now growing again – more rapidly than any fellow EU state.
"While Latvia's switch to the euro comes just five years after an international rescue package, which saw its economy shrink by more than a fifth in 2008-2009, it appears to be on the fast track to recovery as their economy is growing at the fastest pace in the European Union this year," said analysts at City firm Clear Currency.
The Latvian finance minister, Andris Vilks, has argued that Ukraine's recent tug-of-war between the EU and Russia shows the wisdom of making closer ties with Europe.
Vilks said: "Russia isn't going to change. We know our neighbour. There were before, and there will be, a lot of unpredictable conditions. It is very important for the countries to stick together, and with the EU."
Latvia's own political future is unclear at present. Valdis Dombrovskis resigned as prime minister after 54 people were killed in a supermarket collapse in Riga last month, the country's worst disaster since winning independence in 1991. A new prime minister has not yet been appointed.
Eurozone faces more challenges in 2014Although the threat of eurozone breakup has receded, many experts warn that next year will be challenging. Open Europe's Ruparel says the European Central Bank's asset quality review – stress-testing the region's banks – will dominate 2014. It will put the spotlight on banks in France and Italy in particular, he predicts.
Europe's economy remains weak, having struggled out of recession this summer, and the jobless rates are at record levels.
Kit Juckes of Société Générale said: "The nagging, never-ending fear is that policymakers like to tell us the crisis is over, but we still have falling bank lending, and we still have levels of unemployment, especially youth unemployment, that would in most countries and at most points in history, have caused a massive political backlash."
In Latvia, the youth unemployment rate is almost 25%, slightly higher than the eurozone average. In Spain and Greece, the figure is over 50%.
Latvia for beginnersHere are a few key numbers and facts about Latvia and its adoption of the euro.
Latvia has a coastline along the Baltic Sea and borders with Estonia, Russia, Belarus and Lithuania. The capital is Riga, where more than a third of the population lives. Some 44% of the country is forest.
Latvia has a population of 2,041,763 and after it joins the eurozone 333 million Europeans will share the same currency
Latvia's old currency, the lats (LVL), can be exchanged as of 1 January at an official conversion rate of 1 euro = 0.702804 LVL. Prices must be displayed both in lats and euros until 30 June 2014.
GDP growth in third quarter: 1.2% on the quarter (eurozone: 0.1%, EU: 0.2%, UK:0.8%)
GDP per capita, expressed in purchasing power standards is 36% below the EU average, putting Latvia ahead of Croatia, Romania and Bulgaria but below the rest of the EU.
Unemployment rate: 11.9% in October (eurozone: 12.1%, EU: 10.9%, UK: 7.4%)
Annual consumer price inflation: -0.3% (eurozone: 0.9%)
Main exports: Wood and metal products, machinery, electrical equipment and mineral products
Latvia joined the European Union on 1 May 2004
Compiled by Katie Allen. Sources: European Commission, Bank of Latvia, The Latvian Institute
EuroLatviaEurozone crisisEuropean monetary unionEconomicsEuropeGraeme Weardentheguardian.com © 2013 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds |
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New year, new laws: world will wake up to raft of changes in 2014
Countries around the world are ringing in the new year with a host of new regulations, appointments and legislation Here are some of the most important and most intriguing
If it feels like you're waking up to a slightly different world on Wednesday, then it's because you will be. 1 January is habitually a watershed for new rules, appointments and bylaws; 2014 is no exception.
So what is changing? Well, if you are driving in Oregon with children in your car, do not light up. It'll be illegal. And if you're driving in Switzerland, turn your headlights on. Even if it's the middle of the day.
While we're on the subject of lighting, if you live in Canada please remove those last incandescent lightbulbs – they won't be allowed any more.
Other things that are now to be banned: owning unregistered assault weapons in Connecticut; harassing celebrities and their children with long-lens cameras in California; hunting elephants in Botswana and injudicious calls to the London Fire Brigade (if you're a business you'll be fined for false alarms). Oh, and if you're an architect practising in Texas, you will have to get yourself fingerprinted. Don't ask why.
On the other hand, there are moments of great liberalisation to salute. Colorado on Wednesday will become the first state in the US to allow the sale of marijuana for recreational purposes. Also in America, for the first time it will be OK to be a gay Boy Scout, while for their British counterparts, it's OK to be an atheist. For Germans, liberalisation comes in more subtle ways, such as the new dispensation for universities and libraries, which will henceforth be allowed to upload "orphaned" works of art on to the internet without permission.
If you're Bulgarian or Romanian, welcome. Work restrictions across the EU for citizens of two of the poorest EU countries are lifted. But despite the dire warnings from the right (er, people who are supposed to believe in free markets no less) the indications are that there will be no sudden influx of Balkan builders.
In a less-observed border relaxation, it will become much easier for Chinese tourists to visit Taiwan as the Chinese authorities make a concerted effort to improve cross-strait ties.
And in the unlikely event that you are off to do some shopping in Latvia, leave your lats at home and take euros instead: the Baltic republic becomes the 18th country to join the single currency zone.
Indeed, institutional changes are a 1 January perennial. Russia takes over running the G8 for a year while Greece gets its turn to lead the EU. Democrat Bill de Blasio takes over as mayor of New York. And Barack Obama's new system of healthcare coverage, known as Obamacare, is formally launched with hundreds of thousands of newly insured Americans presenting a formidable test to a system that has endured a difficult birth.
Then there are more obscure new laws that frankly take some explaining. If you live in France, you can demand that your home be checked for electromagnetic waves. And if you are arrested, make sure the police address you as "vous" and not "tu", as they are required to do from 1 January.
If you die in Hungary, fear not: From Wednesday the state will reportedly provide a free grave, coffin or urn – and even a free shovel for gravedigging – to poorer sections of society.
The other thing that 1 January signifies is the start of a year dedicated to a certain issue or theme. So prepare yourself, and make any necessary adjustments to your schedule, to accommodate the International Year of Family Farming, the International Year of Crystallography and the International Year of Small Island Developing States.
Happy new year.
Those changes in full:
Europe• Work restrictions across the EU are lifted for migrants from Romania and Bulgaria.
• Greece takes over EU presidency.
• Latvia joins the eurozone.
• The European fiscal compact, which forces countries across the eurozone to deliver a balanced budget, becomes operational.
UK
• New rules lengthen to three months the amount of time that migrants will have to wait before claiming benefits.
• London Fire Brigade becomes the first service in the country to introduce a charging scheme for callouts to false alarms at buildings such as hospitals, airports and student accommodation.
• Regulation of undercover police – new rules come into force requiring higher level of authorisation
• Average season ticket prices are due to rise by 4.1%
• Scout Association introduces pledge that removes the promise by Scouts to do their duty to God.
• The Defamation Act 2013 is set to change libel laws. Claimants will need to show they have suffered "serious harm" before suing.
France• Individuals are allowed to import 10 (200 cigarette) boxes of cigarettes.
• Minimum hourly wage rises by 10 cents an hour to €9.53 (£8).
• "Red Bull" tax comes into effect on energy drinks – €1 a litre.
• Minimum hours to be considered "part-time" worker – 24 hours a week• Anyone can demand their home be checked for electromagnetic waves. Same applies to public spaces.
• New code of conduct for police insisting they use the more respectful and formal "vous" when addressing the public and suspects and have a number on their uniform so they can be identified.
• The validity period for a French identity card rises from 10 to 15 years
Germany• The points system for driving licences will be simplified. Minor offences are punished with fewer points, but Germans will only need eight instead of 18 points to lose their driving licence.
• The tax for bars of silver will jump from roughly €1 to €2 an ounce.
• From 1 January Germans will make less money from subletting their flats. Previously, citizens were able to offset the average local rent for a 60 sq metre flat against tax, in the future they will be able to claim back no more than €1,000 a month.
• Universities and libraries will be allowed to upload "orphaned" works of art – artworks, photographs or books whose creator can no longer be identified – on to the internet without getting permission.Previously, they were only able to do so with the explicit permission of a copyright holder.
Switzerland• Competition for new national anthem starts.
• Using car headlights in daylight hours becomes mandatory.
Russia• Takes helm of the G8.
United States• Minimum wage rises in 14 states.
• Oregon: no smoking in a car with children.
• Colorado becomes the first state in the US to allow the sale of marijuana for recreational purposes.
• Affordable Care Act – individual mandate takes effect, requiring most Americans to buy health insurance.
• Guns that are considered assault weapons and large-capacity ammunition magazines that have not been registered with Connecticut authorities will be considered illegal contraband.
• Photographers who harass celebrities and their children face tougher penalties under a Californian law backed by actors Halle Berry and Jennifer Garner.
• Bill de Blasio takes over as mayor of New York.
• Texas requires all architects to be fingerprinted.
• The Boy Scouts of America lifts a ban on openly gay members after the organisation's national council voted against the rule in late May.
Asia• The visa process for mainland Chinese visitors to Taiwan will be streamlined in an effort to bolster cross-strait ties
Africa• Botswana, home to a third of the global elephant population, bans commercial hunting amid growing concerns about the decline in wildlife species.
• Deadline for the controversial "indigenisation" of businesses in Zimbabwe. The Indigenisation and Economic Empowerment Act obliges foreign-owned companies operating in the country to cede at least a 51% controlling stake to black Zimbabweans. Those who refuse face possible arrest.
• Travel for Kenyans, Rwandans and Ugandans to each other's countries will become much easier with the use of national identity cards as travel documents and the issuance of a single east African tourist visa
Reporting team: Dan Roberts in Washington, Kim Willsher in Paris, Alex Hern, Dan Milmo, Jonathan Kaiman in Beijing, Philip Oltermann in Berlin, and Dan Nolan in Budapest
EuropeFranceRussiaGermanySwitzerlandUnited StatesChinaAsia PacificNew YearMark Rice-Oxleytheguardian.com © 2013 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds |
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Greek former defence official at centre of graft inquiry returns bribes
A former Greek government official who admitted taking about $16 million in bribes more than ten years ago to wave through arms contracts, has returned 7 million euros ($10 million) of the money to the state, the finance ministry said on Tuesday. Antonis Kantas, deputy armaments chief at the defence ministry between 1997 and 2002, was arrested and charged this month after investigating judges ...
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Famous Greek Goldsmith Ilias Lalaounis Passes Away
Greek ReporterFamous Greek Goldsmith Ilias Lalaounis Passes AwayGreek ReporterIlias Lalaounis, the pioneer of Greek jewelry and an internationally renowned goldsmith, passed away at the age of 93. He died a few days ago but his family announced his death today. Lalaounis was born in 1920 in the heart of Athens, Greece, in a ...Jeweler Ilias Lalaounis, 93, diesKathimeriniall 2 news articles »
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Morning papers: Greece to leave bailout scheme in 2014
FT AdviserMorning papers: Greece to leave bailout scheme in 2014FT AdviserAntonis Samaras, the country's prime minister, has said that Greece will leave the European bailout scheme next year without needing a third aid package and having to endure the painful austerity that is invariably a corollary of acceptance, according ...and more »
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Greek bonds outshine all others
Greek bonds returned almost four times as much as any other government securities this year as the nation that sparked Europe's sovereign debt crisis moved toward economic recovery after six years of contraction. Greece's 47 per cent year-to-date return ...
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Greece assumes EU presidency as anger towards Brussels grows
After years of allowing Athens' central plaza to bear the hallmarks of riot and wrath, the Greek authorities have been tarting up Syntagma square as Greece prepares to take over the rotating presidency of the EU on New Year's Day. Greece's ...
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German Arms Firm’s Greek Rep Arrested
ATHENS – A widening scandal in the Greek defense ministry has led police to arrest the Greek representative of German arms firm Krauss-Maffei Wegmann on suspicion of bribing an office to get a lucrative contract for military equipment. Dimitris Papachristou was taken into custody after Antonis Kantas, the ex-deputy head of procurements at the ministry […]
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Greek Bonds World’s Best Bet
The Greek economy may be tanking, but it’s still a great investment for speculators who know what they’re doing. Greek bonds returned almost four times as much as any other government securities this year, giving a 47 percent return that was the best of 34 sovereign debt markets tracked by Bloomberg’s World Bond Indexes. Greece […]
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Greek Girl, 13, World Chess Champ
Maybe they’ll make a movie called Searching for Christina Tsolakidou now. The 13-year-old Greek girl won first place in her categroy at the World Individual Championships of chess in a 12-day event held in Al-Ain, Abu Dhabi. The young prodigy is a member of the Kavala Chess Club in northern Greece and plaiyed 11 matches, […]
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Bloodthirsty idiots
The attack on the residence of the German ambassador in the capital’s northern suburb of Halandri is nothing short of a crime that undermines the interests of this country.
Only a bloodthirsty idiot who wants to expose Greece and tarnish its image in the ... ...
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Being a part of a changing world
It is said that a pessimist is simply a well-informed optimist and there is, at times, a certain truth in this. In crisis-hit Greece, we don’t need to be well informed to be pessimistic. There are plenty of good reasons, not least of which is the number o... ...
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Showers and snow forecast for New Year's Day
Many parts of Greece will see in the new year with heavy downpours that will sweep into the country in the early hours of Wednesday from the southwest.
The Hellenic National Meteorological Service (HNMS) said on Tuesday that showers and sporadic thunderst... ...
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Greek Exports to Turkey Up Sevenfold in a Decade
Greek ReporterGreek Exports to Turkey Up Sevenfold in a DecadeGreek Reporterexports Greek exports to Turkey, such as cotton, fuel and plastics, have increased sevenfold within a decade, soaring from 369 million euros in 2002 to 2.6 billion in 2012, quoting official figures. There was a 38% increase from 2011 to 2012 as well.Trade: Greek exports to Turkey up sevenfold in a decadeANSAmedall 9 news articles »
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Greek Orthodox clergy sweeping dust in the Church of the Nativity
Greek Orthodox clergy sweeping dirty saw dust with brooms in the central nave of the Church of the Nativity, which is considered the birthplace of Jesus of Nazareth, during the annual cleaning of the ancient church. Greek Orthodox clergy sweeping dirty saw ...
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Investors exercise fraction of Greece's National Bank warrants
Investors exercise fraction of Greece's National Bank warrantsReuters UKAs part of Greece's 240 billion euro ($332 billion)international bailout, its top four banks including National Bank, were recapitalised mainly by the Hellenic Financial Stability Fund (HFSF) after losses from a sovereign debt writedown and bad loans ...More than 2000 sign up to redundancy plan at Greece's NBG-sourceReutersNational Bank of Greece : Investors exercise fraction of Greece's National ...4-traders (press release)Big Movers: National Bank of Greece (ADR)(NYSE:NBG), Linn Energy LLC ...SBWire (press release)all 7 news articles »
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12 Greeks that Inspired Us in 2013
2013 was a tough year marked by disasters and negative news. During this difficult time, some people managed to shine in their respective fields and realize their dreams while helping the world become a better place. Here, we present 10 Greeks that inspired us in 2013: Greek-French actress Adele Exarchopoulos was awarded the Palme d’Or […]
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Out of the Ordinary New Year’s Eve Customs
New Year’s Day may be the only holiday which is celebrated with pomp and circumstance across the globe. Each country has its own traditions for this day. Each region of Greece has unique traditions along with different beliefs and customs. However, despite the variety of customs, the common aim is for everyone to have a […]
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New Year’s Eve Under the Acropolis of Athens
Within the framework of events planned by the Municipality of Athens, Greece, for New Year’s Eve, the city center will become a melting pot of inhabitants and tourists, to the sounds of festive music. The special event which marks the last evening of the year will include concerts and theatrical displays to complement the celebrations. The […]
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Greek Org of Football Prognostics S.A. : Recall of Management Presentation 2013-2022
OPAP S.A. announces to investors, pursuant to article 21, L. 3556/2007 and resolution 3/347/12.7.2005 of the Capital Market Commission`s BoD, that the "Management Presentation 2013-2022" released on 22.02.2013, is now recalled. The "Management Presentation ...
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Greece to exit bailout plan in 2014
Greece is on track to exit its EU-IMF bailout program in 2014 and should require no further loans, the country's Prime Minister Antonis Samaras said in a televised address.
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Greek prison system collapsing under worst overcrowding in EU
ATHENS, Greece (AP) -- More than 30 men were crammed inside, locked up day and night for weeks or months at a time. Without enough bunks, many slept on the floor. The air was thick with cigarette smoke and the reek of the one shared toilet ...
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Chinese local authorities owe almost £1.8tn – report
National audit office figures reveal alarming levels of debt accrued by state governments and businesses
Fears about China's rising debts have intensified after a long-awaited report showed local governments owe almost $3tn (£1.8tn). Authorities' debts are up almost 70% since the end of 2010, according to wide-ranging research from the country's national audit office.
The report was ordered in July amid concern that the available figures failed to show how far thousands of local councils and state-owned businesses in the world's second biggest economy had overstretched themselves.
Audit office agents were sent across China to report on the finances of 36,000 local governments. They put the total outstanding debt at 18tn yuan (£1.8tn) as of the end of June. That marked a rise of 67% on the total arrived at after a less comprehensive audit in 2011.
The debt mountain was near the mid-point of market forecasts and so below the most pessimistic predictions for debt of £2.4tn. But the finding will do little to calm those investors and analysts who fear China's myriad local and state enterprises have been racking up debts to accelerate production rather than growing sustainably. Economists said the new Communist party leadership now faced a balancing act of trying to temper local government borrowing without denting an already cooling economy.
The local government tally takes China's total government debt to around 58% of GDP, higher than previously thought by many economists. Credit rating agency Fitch, which cut China's long-term local currency rating to A-plus from AA-minus in April, estimated then that government debt was 49% of GDP.
But at 58% the debt burden is still less than half that in crisis-stricken Greece and well below the UK, whose gross government debt is estimated at 92% for 2013 by the International Monetary Fund. The IMF's estimate for China is 23%.
Still, with debt rising and local government borrowing in particular seen as one of the biggest threats to the economy, analysts warned the new government that took over in 2012 needed to accelerate its reform programme.
"While China's total government debt remains low by the OECD standards, the pace of the rise is still alarming," ANZ economists Liu Li-Gang and Zhou Hao said in a research note, referring to the OECD group of countries where average government debt is estimated at 110%.
"This national debt audit result could indicate that China's local government debt almost doubled in about 2-1/2 years."
The NAO's finding that debts were much higher than in 2010 defied assurances from Beijing that local government debt levels had stabilised in recent years.
The state auditor highlighted risks such as heavy debt burdens in some unnamed regions and sectors as well and government dependence on land sales to repay loans.
"China's government debt risks are in general under control, but some areas have certain dangers," the report said.
Pan Xiangdong, chief economist at Galaxy Securities in Beijing predicted the central government would now restrict the borrowing behaviours of local governments.
"Although current overall risks of local government debt are under control, risks would definitely increase sharply if the debt continues to rise so quickly," he was quoted as saying by Reuters.
ChinaAsia PacificKatie Allentheguardian.com © 2013 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds |
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Tasmanian family Greek yoghurt company White Cow takes Taste plunge
He said it was great to be accepted by the Taste. Taste co-chairman Marti Zucco said that despite the cooler weather yesterday numbers were still up. "We started out slow but it really picked up in the afternoon and evening. Normally there's an afternoon ...
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The first timers’ guide to Greek dining
The festive experience of Greek dining is about more than just food; it is about togetherness and the warmth of a great meal—complete with wine and ouzo! If you have never dined out at a Greek restaurant, you can fit right in by following these simple ...
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Greek Expat’s Horse Dead by Spider Bite
Greek-Australian expat businessman Bill Vlahos who paid five million dollars for a horse has had his investment wiped out by a spider. The horse named Jimmy, which was the half-brother of the famous Blac Caviar which won numerous races and huge ...
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Schaeuble says Europe won't turn its back on Greece
Schaeuble says Europe won't turn its back on GreeceKathimeriniEurope will not turn its back on Greece and the assumption of the rotating European Union presidency offers Athens a great opportunity, German Finance Minister Wolfgang Schaeuble said on Monday. In a pre-release of an interview to be published in the ...
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Greek gov't in new talks with EOPYY doctors as strike is extended
Health Ministry officials held a new round of talks with doctors working for the country’s main healthcare provider (EOPYY) on Monday even as unionists extended their strike action through to Friday in protest at state health service reforms which, they c... ...
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Greek secondary school teachers to meet with reform minister
Members of the secondary school teachers’ union (OLME) are due to meet Administrative Reform Minister Kyriakos Mitsotakis on Friday to discuss the public sector mobility scheme.
The unionists want their inclusion in the program to be reversed and for any ... ...
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Euro Champ Olympiakos Falls Again
Olympiakos may be the king of the hill in European basketball but it’s still struggling in the Greek league, this time tumbling to lightly-regarded KAO Dramas, 75-69, effectively ending the champion’s hopes of winning the regular season title. Olympiakos’ bitter rival, Panathinaikos is still first. Against KAOD, the Reds looked lost, especially playing without captain […]
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Leader of Greece's DIMAR party to nominate unknown as new secretary
Democratic Left (DIMAR) leader Fotis Kouvelis is set to nominate an unknown 35-year-old his party’s new secretary in a bid to revive its flagging fortunes.
Sources suggested that Kouvelis will name Thanasis Theocharopoulos as the successor to the experien... ...
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City of Athens to see in New Year with free events, Thiseio concert
The City of Athens Symphonic Orchestra, followed by Greek singers Nikos Portokaloglou, Iota Nega and Gerasimos Andreatos will see in the New Year in central Athens on Tuesday.
The concert is part of a day of free celebrations organized by City Hall.
There... ...
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Antetokounmpo Shines In Buck’s Loss
BROOKLYN – Rookie swingman Giannis Antetokounmpo, the 19-year-old Nigerian from Greece who was the first pick in the NBA draft for the Milwaukee Bucks, began to show his promise in his club’s 104-93 loss to the Brooklyn Nets on Dec. 27, wracking up a double-double: 16 points and 10 rebounds. It was a bright spot […]
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Dozens arrested at illegal casino in central Athens
In a large-scale operation on Sunday night, officers of the Greek Police’s internal affairs division made 105 arrests at an illegal casino operating in central Athens, though they were unable to find any evidence that members of the force were involved in... ...
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Police suspect Maziotis took part in hit on German ambassador's residence
The home of Germany's ambassador to Greece was targeted early Monday by gunmen who riddled the building in Halandri, northeastern Athens, with dozens of rounds from two Kalashnikov assault rifles, causing no injuries but rattling Greek and German governme... ...
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NCH Capital Inc gets green light to build resort on Corfu
NCH Capital Inc, a US private equity firm, won permission from the Greek government to build a tourist resort on the island of Corfu.
NCH, based in New York, will spend 23 million euros on the leasehold and invest about 75 million euros to develop a hotel... ...
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Greek representative of German arms firm arrested in Athens
The Greek representative of German arms firm Krauss-Maffei Wegmann was arrested in Athens on Monday on suspicion of bribing a Defense Ministry official to secure the sale of military equipment.
Dimitris Papachristou was taken into custody after Antonis Ka... ...
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Small drop for blue chips ahead of year’s final session
Greek blue chips posted moderate losses on Monday after Friday’s big gains and have just half a session left in 2013 as Tuesday will be a half-day at the Athens bourse, following a year of remarkable growth.
The Athens Exchange (ATHEX) general index close... ...
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Exports to Turkey soar
Greek exports to Turkey, such as cotton (pictured), fuel and plastics, have increased sevenfold within a decade, soaring from 369 million euros in 2002 to 2.6 billion in 2012, according to official figures.
There was a 38 percent increase from 2011 to 201... ...
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Market having second thoughts on store opening framework
The successful experiment of the so-called White Night event last Saturday in Athens and many storeowners’ disappointment about not being able to open on the last Sunday of the year in the capital and most other cities are forcing Greece’s commerce market... ...
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Checks on money sent abroad finally pick up pace
The Finance Ministry is speeding up checks on money sent abroad in the period from 2009 to 2011 as well as various lists of suspicious accounts Greek authorities have received from international sources.
According to sources, out of the 24,710 cases of mo... ...
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Smog discount planned for power use
Hundreds of thousands of electricity consumers in Greece are about to get significant discounts on their power consumption as the government is making plans to combat the use of wood-burning stoves and fireplaces and reduce the smog phenomenon in the coun... ...
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Arrivals from abroad reach 17.7 million this year
Foreign tourism arrivals in 2013 have beaten all records and expectations, as, according to the Association of Hellenic Tourism Enterprises (SETE), the latest estimate for the whole of the year is a total of 17.7 million visitors to Greece. The figure for... ...
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Liapis Gets Off, Suspended Sentence
ATHENS – Former Greek transport minister Michalis Liapis, arrested earlier this month in Greece on charges of driving his luxury car with false license plates, no license, no registration and no insurance, was given a suspended four-year jail sentence on Dec. 30 by a Greek court. The prosecutor had called for Liapis to be found […]
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Community Leaders Look Forward to 2014
NEW YORK – The turn of the New Year is a good time to pause, review recent accomplishments and stumbles, and then focus on the challenges and opportunities before us and the plans and corrections that will help us navigate them. The process is helped by looking at who we are, both individually and collectively. […]
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Car Dealer, Music Conductor Kill Selves
Greece’s escalating rate of suicides during a crushing economic crisis, as the country is set to enter a seventh year of a deep recession, added two more victims on Dec. 30: the 45-year-old conductor of the philharmonic orchestra of the island of Chios, who shot himself in the head, and a 56-year-old Thessaloniki car dealer […]
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