Welcome, 77 artists, 40 different points of Attica welcomes you by singing Erotokritos an epic romance written at 1713 by Vitsentzos Kornaros

Tuesday, September 3, 2013

Greece's Marfin seeks $US1bn from Laiki

An international arbitration of Greece's Marfin Investment Group will attempt to recover $US1 billion.


Chinese Russian Interest in Greece Growing

Chinese and Russian investors are showing increased interest in acquiring properties in Greece, mostly in Athens, as well as the islands of Rhodes, Crete and Corfu, according to a report by real estate agency Danos & Associates-BNP Paribas on the course of the property market in the first six months of the year. The Chinese and the Russians are motivated by the legal clause offering them a ...


Greece Loses 3000 Engineers To Crisis

The Greek construction industry, hammered by the country’s economic crisis, is seeing an exodus of engineers, with some 3,000 estimated to have left in the last three years looking for work and a better life elsewhere. Scientists and craftsmen have also also emigrated seeking professional stability and decent wages in countries with booming construction business such as Saudi Arabia, the ...


Greek food scheme seen helping over 800000 people by year-end

More than 800,000 people are expected to have benefited by the end of a year from a free food distribution scheme being organized by the Agricultural Development Ministry, sources said on Tuesday.The food program, which is subsidized by the European Union, has an annual budget of 25 million euros.Food handouts are organized across the country by more than 1,000 organizations ranging from churches ...


Nimetz due in Athens next week for FYROM name talks

The United Nations mediator in a longstanding dispute between Greece and the Former Yugoslav Republic of Macedonia over the ...


Greek Financial Police have probed 7201 cases worth millions of euros

The Financial Police and Electronic Crime Prosecution Agency (YPOADIE) has investigated a total of 7,201 cases of financial crime in the two years since its establishment, Public Order Minister Nikos Dendias (photo) said on Tuesday, noting that those cases cost the Greek state some 35.5 million euros.Meanwhile a total of 2,355 people were arrested in connection with a total of 2.98 billion euros ...


Greece to help Cyprus with possible evacuation of foreigners from Syria

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Ancient Greek mythology with twist of terrorism

The AgeAncient Greek mythology with twist of terrorismThe AgeGluck's operatic reforms were revolutionary for their time, but also for all time. This good production of Iphigenie en Tauride brings all the drama and urgency of Gluck's scoring alive with telling vividness. Praise indeed for conductor Pat Miller who ...and more »


Greek productions set to screen at Toronto International Film Festival

Greek productions set to screen at Toronto International Film FestivalKathimeriniTen Greek films will be screened this month in Toronto as part of the city's International Film Festival (TIFF), with the support of the Greek Film Center and Dimitris Eipidis, who is director of the Thessaloniki International Film Festival and ...and more »


Greek Food and Cultural Festival serves up savory, flaky delights

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Sequim couple's new mystery novel explores a Greek isle

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Greece kills off Mickey Mouse due to recession kills off Mickey Mouse due to Terzopoulos, who published 12 Disney titles in Greece, which is facing the possibility of a third bailout from the Troika of international lenders, raised the possibility of restarting the Mickey Mouse magazine when the economy improves. "We kept ...


Debating Greece

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Jewish activist on trial in Greece for inciting violence against neo-Nazis

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Horace Mann Sex-Abuse Victim Says His Elite NYC Private School Ignored Multiple Pleas For Help

A former Horace Mann student who was a victim of sexual abuse while at the school told the New York Post that administrators gave teachers "a license to abuse" by ignoring his repeated claims of sexual misconduct.

The elite New York City private school has paid out $4 million to $5 million to 27 former students in sex abuse settlements, and gave about $150,000 to each claimant, according to the Post. 

Stephen Fife — now 60 years old — says he had one of the strongest legal claims against the school and recieved a higher than average settlement. Fife says he complained four times about English teacher Robert Berman, who is accused of abusing at least five students.

According to Fife, Berman attempted to seduce him by "saying that the Greeks did it, Socrates slept with Plato and Plato slept with his students," and once forced his tongue into the student's mouth during a trip to Washington, D.C.

Berman has denied having sex with students at Horace Mann, the Post reports.

When Fife tried to tell Horace Mann's guidance counselor about Berman, he was reportedly told "I would only hurt myself and my chance of getting into a good college if I made any public declaration against Berman."

Years later, Fife said, the guidance counselor acknowledged the sexual abuse, but said that "he thought Berman was the most brilliant person he had ever met. He felt students were lucky to have a chance to study with him."

Read the full article at the New York Post >

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5 reasons to visit the Greek Festival

The Salt Lake City Greek Festival, held at the Holy Trinity Cathedral on 300 West and 300 South, gives Utahns an opportunity to learn about Hellenic culture and history and enjoy delicious food. This year, the event will take place Sept. 5 to 8.


Director of the Economic Affairs Department at MoFA receives Greek Ambassador

WAM ABU DHABI, 3rd September, 2013 (WAM) -- The Director of the Economic Affairs Department at the Ministry of Foreign Affairs (MoFA), Jassim Mohammed Al Qasimi, has received Dionisios Zois, Ambassador of the Greek Republic to the UAE. During the meeting, the two sides discussed preparations for a visit to be made by Dr. Sultan bin Ahmed Sultan Al Jaber, Minister of State, from 12th-13th of ...


Greek Salad pays homage to the Mediterranean Diet

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Greek Militant Anarchists Claim Letter Bomb Attack

Greek militant anarchist group claims letter bomb attack on anti-terrorism prosecutor        


New York's Dairy Farmers Squeezed By Greek Yogurt Boom

The state's yogurt production has tripled since 2008, thanks to Greek yogurt's popularity. But the fixed price for milk means farmers aren't necessarily benefiting from the boom.


28th Annual Cranston Greek Festival

It takes place every year now on the weekend after Labor Day. The Cranston Greek Festival is one of the largest Greek Orthodox festivals in New England. It is the main fundraiser for our church, the Greek Orthodox Church of the Annunciation.


Greece's Marfin seeks $1 billion from defunct Cyprus bank

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Troika rejects Greek proposal for state-owned defense industries overhaul

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German voters reject further eurozone support

by  NEOnline

Germans have very limited appetite for further European integration and want euro membership restricted to a select club, a Yougov poll for think tank Open Europe found it was announced on September 3 less than three weeks before Germany heads to the polls.

“German voters’ support for ‘more Europe’ seems to be mostly limited to strict control over other countries’ spending," said Open Europe policy analyst Nina Schick. "On all other eurozone initiatives currently being discussed – including debt write-downs and a banking union – a majority of Germans remain opposed. The question is if the next German chancellor is prepared to press ahead with more eurozone integration anyway, risking the gap between voters and politicians widening further.”  

Most German voters want the euro slimmed down with 55% saying that Germany should keep the euro but membership should be restricted to a select group of more similar countries”. But nearly half (46%) don't believe that the euro should be saved "at any cost" and many (42%) blow think that they euro is threatening the European project. 

All forms of further financial support to fellow eurozone countries are rejected by voters in Europe's strongest economy. Just over half (52%) don’t want the next government to commit to further loans for crisis-hit eurozone members (35% tend to agree);  57% said the next government should not have the mandate to forgive some debt owed by Southern eurozone countries (31% tend to agree); 56% of voters said the next government would not have the mandate to sign up to a joint backstop for banks (29% agreed), while 64% and seven in ten (70%) respectively, said the same of debt pooling via eurobonds and fiscal transfers.  

Essentially this means that German voters disagree with all options currently on the table for Greece even though both their Chancellor and Finance Minister recently acknowledged that Greece will need further aid on top of the €240bn bailout it has already received. 

Almost two-thirds (65%) of them want the next Chancellor to sign up to more money going to other eurozone countries on the condition that a referendum was held beforehand.     

In a worrying sign for Europe's political leader and the ECB, there was considerable support for the German Constitutional Court to rule the ECB’s bond-buying programme (OMT) illegal in its on-going court case. By a margin of almost two to one (46% to 25%), Germans said the Court should rule against the OMT if the stability of the euro could be ensured in other ways. Over a third (35%) said that the Court should rule against the OMT, even if that threatens the stability of the euro. In a strong indication of how seriously Germans take the rule of law, almost half (48%) of those asked said upholding the law is more important than saving the euro (30% disagreed).   

There was also strong opposition to EBC activism even it proved beneficial for the eurozone as a whole. German voters demonstrated considerable scepticism about the ECB easing its focus on maintaining price stability, even if it was deemed beneficial for the eurozone as a whole, with six in ten voters (62%) opposing such a move, compared to only one in four (25%) backing it.

European ‘Political union’ is only supported if it means stronger budget controls - 52%support turning the eurozone into a “political union, with stronger central budget controls” but when “political union” is defined as including “fiscal transfers”, this majority is reversed with 55% of Germans being against and only 30% supportive.  

Open Europe and Yougov say the finding show that there is a mismatch between mainstream politicians’ and voters’ views on Europe. On the question of which party best reflects voters’ opinions about European and eurozone policy, irrespective of who they intend to vote for, both the CDU/CSU (29%) and the SPD (18%) score well below their wider support. Interestingly, ‘Don’t know’(15%) and ‘none’ (11%) scored third and fourth, ahead of any other party, while only 5% say the anti-euro AfD best reflects their views.   

With polls predicting Chancellor Merkel will continue to govern Germany for a third term, "the question is if the next German chancellor is prepared to press ahead with more euro zone integration anyway, risking the gap between voters and politicians widening further," said Open Europe's Schick.


Emerging market slowdown: can a crisis be averted?

The fact that relatively moderate shocks have caused such profound trauma in emerging markets makes one wonder what problems a more dramatic shift would trigger

With economic growth slowing significantly in many major middle-income countries and asset prices falling sharply across the board, is the inevitable "echo crisis" in emerging markets already upon us? After years of solid – and sometimes strong – output gains since the 2008 financial crisis, the combined effect of decelerating long-term growth in China and a potential end to ultra-easy monetary policies in advanced countries is exposing significant fragilities.

The fact that relatively moderate shocks have caused such profound trauma in emerging markets makes one wonder what problems a more dramatic shift would trigger. Do emerging countries have the capacity to react, and what kind of policies would a new round of lending by the International Monetary Fund bring? Has the eurozone crisis finally taught the IMF that public and private debt overhangs are significant impediments to growth, and that it should place much greater emphasis on debt write-downs and restructuring than it has in the past?

The market has been particularly brutal to countries that need to finance significant ongoing current-account deficits, such as Brazil, India, South Africa, and Indonesia. Fortunately, a combination of flexible exchange rates, strong international reserves, better monetary regimes, and a shift away from foreign-currency debt provides some measure of protection.

Nonetheless, years of political paralysis and postponed structural reforms have created vulnerabilities. Of course, countries like Argentina and Venezuela were extreme in their dependence on favorable commodity prices and easy international financial conditions to generate growth. But the good times obscured weaknesses in many other countries as well.

The growth slowdown is a much greater concern than the recent asset-price volatility, even if the latter grabs more headlines. Equity and bond markets in the developing world remain relatively illiquid, even after the long boom. Thus, even modest portfolio shifts can still lead to big price swings, perhaps even more so when traders are off on their August vacations.

Until recently, international investors believed that expanding their portfolios in emerging markets was a no-brainer. The developing world was growing nicely, while the advanced countries were virtually stagnant. Businesses began to see a growing middle class that could potentially underpin not only economic growth but also political stability. Even countries ranked toward the bottom of global corruption indices – for example, Russia and Nigeria – boasted soaring middle-class populations and rising consumer demand.

This basic storyline has not changed. But a narrowing of growth differentials has made emerging markets a bit less of a no-brainer for investors, and this is naturally producing sizable effects on these countries' asset prices.

A step toward normalisation of interest-rate spreads – which quantitative easing has made exaggeratedly low – should not be cause for panic. The fallback in bond prices does not yet portend a repeat of the Latin American debt crisis of the 1980s or the Asian financial crisis of the late 1990s. Indeed, some emerging markets – for example, Colombia – had been issuing public debt at record-low interest-rate spreads over US treasuries. Their finance ministers, while euphoric at their countries' record-low borrowing costs, must have understood that it might not last.

Yes, there is ample reason for concern. For one thing, it is folly to think that more local-currency debt eliminates the possibility of a financial crisis. The fact that countries can resort to double-digit inflation rates and print their way out of a debt crisis is hardly reassuring. Decades of financial-market deepening would be undone, banks would fail, the poor would suffer disproportionately, and growth would falter.

Alternatively, countries could impose stricter capital controls and financial-market regulations to lock in savers, as the advanced countries did after the second world war. But financial repression is hardly painless and almost certainly reduces the allocative efficiency of credit markets, thereby impacting long-term growth.

If the emerging-market slowdown were to turn into something worse, now or in a few years, is the world prepared? Here, too, there is serious cause for concern.

The global banking system is still weak in general, and particularly so in Europe. There is considerable uncertainty about how the IMF would approach an emerging-market crisis after its experience in Europe, where it has had to balance policies aimed at promoting badly needed structural change in the eurozone and those aimed at short-run economic preservation. That is a topic for another day, but the European experience has raised tough questions about whether the IMF has a double standard for European countries (even those, like Greece, that are really emerging markets).

It is to be hoped, of course, that things will not come to that. It seems unlikely that international investors will give up on emerging markets just yet, not when their long-term prospects still look much better than those of the advanced economies.

Besides, the current sentiment that the eurozone has gotten past the worst seems exceedingly optimistic. There has been only very modest structural reform in countries like Italy and France. Fundamental questions, including how to operate a banking union in Europe, remain contentious. Spain's huge risk premium has almost disappeared, but its debt problems have not.

Meanwhile, across the Atlantic, the political polarisation in Washington is distressing, with another debt ceiling debacle looming. Today's retreat to advanced-country asset markets could quickly revert to retreat from them.

The emerging-market slowdown ought to be a warning shot that something much worse could happen. One can only hope that if that day should ever arrive, the world will be better prepared than it is right now.

Copyright: Project Syndicate, 2013.

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Can the travel industry save Greece?

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Greek militant group claims responsibility for latest bomb, threatening with more attacks

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Austerity Measures: Greek Reform Minister Tackles Administrative Waste

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Autopsy on dead fox in northern Greece shows signs of rabies

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RANKED: The Ivy League Schools From Worst To Best

Even though the Ivy League is an athletics conference, the eight member schools are better known as academic and intellectual powerhouses that attract some of the best student talent in the world. 

While all of these schools will rank high on any list of the best universities, we decided to look internally, and see which academic institution is the best in the Ivy League. 

We examined the Ivies based on six overall qualities — each judged on several specific rankings — and then combined the six lists into a final overall ranking. The six qualities we used were Academics, Affordability, Campus, Job Prospects, Student Body, and Student Life. We've included how each school placed on these lists below. 

One thing is for certain — Harvard, Yale, and Princeton are in a league of their own. Combined, the three schools only ranked in the bottom half of any of our categories once, and there was a massive difference in points between our top three spots and the rest of our final list.

Here are all eight Ivy League schools, from worst to best:

#8 Brown University — Providence, Rhode Island

#4 Student Body#5 Student Life#6 Academics#6 Affordability (tie)#7 Job Prospects#8 Campus

Students at Brown are among the most attractive in the Ivy League and they love their university — they rate their professors highly and many give back to the school. However, Brown's small endowment and low ranked facilities earned the bottom spot on our Campus list, and the school also placed low on our ranking of Job Prospects. 

#7 Dartmouth College — Hanover, New Hampshire

#3 Affordability#4 Job Prospects#7 Academics (tie)#7 Campus#7 Student Body#7 Student Life

Although Hanover may not be many people's first choice to spend four years, Dartmouth has a stunning campus and a great social life — dominated by the school's Greek scene. The school is fairly homogeneous though and ranked towards the bottom of our Student Body list, getting low marks for diversity and international students, as well as Academics.

#6 Columbia University — New York, New York

#1 Academics#5 Campus#6 Job Prospects#6 Student Body#8 Affordability#8 Student Life

Columbia took the top spot on Academics ranking, boosted by a high percentage of classes with less than 20 students and their well-regarded Core Curriculum program. However, while the school's New York City location makes it a great choice for students who want a traditional campus and all the benefits of a busy city, Columbia lacks a strong on-campus social scene and scored last on our Student Life list, as well as Affordability. 

#5 Cornell University — Ithaca, New York

#2 Campus#3 Student Life#5 Affordability#7 Academics (tie)#8 Job Prospects#8 Student Body

With a thriving Greek scene and one of the best college towns in the country, Cornellians have access to a great social life and one of the Ivy League's most "gorgeous" campuses — landing in the top three for both Campus and Student Life. Unfortunately, the school's high acceptance rate and large class sizes may prove to be a hurdle for students looking for employment after graduation, and the school placed low in Academics and last for Job Prospects.

#4 University of Pennsylvania — Philadelphia, Pennsylvania

#2 Student Life#5 Academics#5 Job Prospects#5 Student Body#6 Affordability (tie)#6 Campus

The highest ranked Ivy outside of the top three, Penn offers a great combination of strong academics and a top notch social life — both with their on-campus Greek life and across Philadelphia — grabbing the second spot on our Student Life list. Despite a low ranking for student's intelligence, Penn graduates tend to a get a high starting salary for the first jobs and many will end up multi-millionaires.

#3 Princeton University — Princeton, New Jersey

#1 Student Body (tie)#2 Job Prospects#3 Academics#3 Campus#4 Affordability#6 Student Life

Princeton students prove their intelligence by choosing the school with the lowest billed tuition in the Ivy League and some of the highest salaries for graduates, putting it in the top half of both our Affordability and Job Prospects rankings. Princeton may not be the ideal college town, and dipped into the bottom half of our Student Life list, but based on high diversity and admissions standards, the university shared the number one spot on Student Life.

#2 Yale University — New Haven, Connecticut

#1 Student Body (tie)#1 Student Life#2 Affordability#3 Job Prospects#4 Academics#4 Campus

Yale students are a triple threat — diverse, brainy, and attractive — and the school was at the top of our Student Body ranking, as well as Student Life. Yalies are some of the happiest in the Ivy League, and with top three spots on both Affordability and Job Prospects, they have every right to be. 

#1 Harvard University — Cambridge, Massachusetts

#1 Affordability#1 Campus#1 Job Prospects#2 Academics#3 Student Body#3 Student Life

Harvard was the clear winner in our rankings, taking the top spot in half of our categories — Affordability, Campus, and Job Prospects — and never placing out of the top three. Boston is a great city to attend college, and Harvard's historic and picturesque campus makes it all the better. The university's reputation is stellar — armed with a Harvard degree students have little issue securing a great paying job after graduation, setting them up for the best return on investment of any Ivy.

Whether you're angling for a Nobel Prize, hope to make millions of dollars, or just looking for a great four years, Harvard is the best school in the Ivy League.

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Greece's MIG launches 824-mln-euro action over lost Laiki stake

KathimeriniGreece's MIG launches 824-mln-euro action over lost Laiki stakeKathimeriniGreek investment group Marfin (MIG) is to turn to international arbitrators in an attempt to recover 824 million euros ($1.09 billion) from Cyprus over the winding down of Laiki Bank. MIG lost its stake in the Cypriot bank after it was shut down under ...and more »


Greece raises 1.138 bn euros, rate stable: debt agency

Greece raised 1.138 billion euros ($1.5 billion) on Tuesday with a sale of six-month treasury bills, at a stable borrowing rate of 4.20 percent, the public debt management agency said. "Total bids reached 1.65 billion euros and the amount finally accepted ...


Dannon® Oikos® Greek Yogurt to Return to the Super Bowl

The Dannon Company announced today that its popular Dannon Oikos Greek yogurt brand will again advertise in the Super Bowl, scheduled for February 2, 2014.


Greece launches large-scale private scheme to lure tourists


Montgomery shows support for Greek community's annual Labor day event

Montgomery shows support for Greek community's annual Labor day eventMontgomery AdvertiserKeeping the Greek BBQ Sale drive thru moving smoot...: Greek Orthodox church member Dimitri Polizos shows what it takes to keep the drive thru line moving smoothly at the annual Labor Day BBQ and Greek Pastry Sale on Monday September 2, 2013 in ...Megan Quinn: Greek Orthodox church celebrates iconographyDaily CameraGreek festival comes to CardiffU-T San DiegoSt. George YA'SSOO Greek Festival to be held Sept. 6-8 in Bloomfield HillsOakland -OSU - The Lantern -Harborcountry Newsall 9 news articles »


Greek landmark crowded as tourists return

Athens - The good news for Greece's tourism industry - a record 11.5 million tourists are expected this year reports the country's National Tourism Organization - is bad news for the country's best-known landmark, the increasingly crowded Acropolis.


Greek Municipal Election System Changing

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PASOK holds two-day congress to mark its 39th anniversary

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Anarchist group claims responsibility for letter bomb

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U.S Stocks Poised to Rebound on News of Shaky Global Recoveries

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Are Chinese banks going the same way as Greece and Spain?

Despite better-than-expected earnings from some of China's largest domestic banks, fears persist about risks in the sector, with one analyst arguing that the sector could soon follow the route of Greek and Spanish banks. Last week China's Big Four banks ...


Greece sells 1.138 bln euros of 6-month T-bills, yield steady

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Can New York's Cows Keep Up With Demand For Greek Yogurt?

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Fire damages Greece home

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Greek militant anarchist group claims letter bomb attack on anti-terrorism prosecutor

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No Way Back – Why Europe Is Doomed To Face A ‘Lost Decade’: Dan Steinbock

greecepoor.jpg Home Page News Page

The number of beggars in Greek cities has increased dramatically. Photo Credit: Portokalis /

Although recent market data have pointed to possible signs of recovery, the European debt crisis is still nowhere close to going away. What’s more, during the past half a decade, prosperity levels have stagnated or fallen so dramatically across Southern Europe – that even if the region would ultimately recover, it will be a far different Europe from what we’ve known from the past.

Although recent market data have pointed to possible signs of recovery, the European debt crisis is still nowhere close to going away. What’s more, during the past half a decade, prosperity levels have stagnated or fallen so dramatically across Southern Europe – that even if the region would ultimately recover, it will be a far different Europe from what we’ve known from the past.

BRUSSELS - The second quarter GDP figures for the Euro-area economies indicated growth, for the first time in 18 months.

See Also links url: Title:  Will Europe’s Austerity Lead To Another Great Depression?: Dan Steinbock See Also type:  Reference url: Title:  Europe’s Weakest Link: Why Italy Could Reignite The European Crisis See Also type:  Reference

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Greece Confirms Launch of Makaza Border Crossing on Sept 9

Greece has sent an official note to Bulgaria's Foreign Ministry to confirm that the new Makaza border crossing will be opened on September 9. The Makaza border crossing will connect northern Europe to the ports on Aegean Sea, according to reports of the ...