Pages
Monday, December 30, 2013
Greek PM Message for the New Year
Greece to exit EU/IMF bailout deal in 2014 – PM
Greek prime minister: 'no more financial aid needed after bailout'
Greece on track for bailout exit in 2014
For Bournias family, making baklava is a 40-year tradition
For more than 40 years, Angie Bournias of Grosse Pointe Shores has made baklava for Christmas.
She learned how to make the traditional Greek pastry from her late father-in-law, Nick Bournias.
“He told about crumpling up the phyllo sheet and baking the baklava slow in a 325-degree oven,” she says.
Since then, Bournias has carried on the tradition and now makes it with her grandchildren.
■ Related: From tamales to pierogi to baklava, families prepare much-loved Christmas recipes
“This is one of those family recipes that are best taught to the children while making it together,” says Bournias. “They love the job of brushing the butter, and as they grow older, become meticulous with the job.”
Bournias says she hopes “they will remember those little tips and carry it on.”
Bournias’ tips: Use lemon juice in the syrup to prevent it from crystallizing. And be sure to keep the phyllo covered to prevent it from drying out. Baking the baklava in a low oven ensures that it bakes evenly, doesn’t brown too much on the top or bottom and allows the layers in between to crisp.
Nick’s Baklava
Makes: About 30 pieces / Preparation time: 1 hour
Total time: 2 hours (not all active time)
SYRUP 2 cups sugar 2 cups water 1 tablespoon lemon juice 1 stick cinnamon 1⁄3 cup honey BAKLAVA 4 cups chopped walnuts (6 cups walnut halves equals this amount), or use chopped almonds, pecans or pistachios 1½ cups granulated sugar 1½ teaspoons ground cinnamon l pound phyllo dough, thawed 3 sticks (or more as needed) unsalted butter, melted
Have ready a 9-by-13-inch rectangular stainless, glass or heavy aluminum foil baking pan.
To make the syrup: In a saucepan combine all the syrup ingredients and bring to a boil. Reduce heat and simmer for 40 minutes. Remove from heat and set aside to cool.
Meanwhile, make the baklava. Preheat the oven to 325 degrees. In a large bowl combine the nuts, sugar and cinnamon. Taste the mixture and make sure it has the right balance of cinnamon. Set aside.
Lay out the thawed phyllo and cover with a clean kitchen towel.
Using a pastry brush, brush pan bottom and sides evenly with butter; place one sheet of phyllo in the pan, brush again. Add 3 more sheets, brushing each one with the butter. Crumple a phyllo sheet into smaller pieces and place on top of the 4 buttered sheets. Add one more sheet and brush with butter again. Sprinkle one-quarter of the nut mixture evenly over entire pan.
Repeat process with phyllo sheets, butter, crumpled phyllo sheet, another phyllo sheet and then the nut mixture so that you have four layers of nuts. Finish pan with another phyllo layer, butter, phyllo, butter, crumpled phyllo, and two more top layers. Tuck sides all around the pan under, brush again with butter.
Before baking, use a sharp knife to cut through the baklava into the size pieces you want. At this point the baklava can be frozen, unbaked. (When ready to use, place in a 325-degree oven without thawing.)
Bake until golden brown, about 45 minutes to 1 hour. Remove from the oven and pour the cooled syrup evenly over the hot pan directly from the oven. It will sizzle and rise up. Do not cover. When cool, loosely cover with foil.
From Angie Bournias, Grosse Pointe Shores.
Tested by Susan Selasky for the Free Press Test Kitchen. Nutrition information not available.Images:
Troy-Based Altair to Expand in Greece and Israel
POSTED ON WEDNESDAY, NOVEMBER 6, 2013 DBUSINESS DAILY NEWS
Altair will open two offices in the Mediterranean: Altair Hellenic in Thessaloniki, Greece, and Altair Israel in Tel Aviv, Israel. The locations, announced Tuesday, will provide customers in the region with multi-disciplinary computer-aided engineering support for extrusion, stamping, forging, resin transfer molding, and crash simulations.
“Our offices in Greece and Israel will be very significant for Altair’s growth,” says James Scapa, chairman and CEO of Troy-based Altair. “The Hellenic region is particularly strong in the use of modeling and visualization tools, with a concentration of highly skilled talent. The Israeli region is a leader in the use of solvers, especially with respect to high-velocity impact and crash.”
Scapa says the Tel Aviv office will focus on defense applications, while Altair Hellenic will center on software development, benchmarking services, and engineering project support to European businesses.
Lazaros Tsioraklidis, who will oversee the Hellenic office, says Altair’s presence in Greece will provide an opportunity for the area to retain local talent.
“The uncertainty of the Greek economy has led many students to move to other countries to find a job,” Tsioraklidis says. “In this environment, it is the right time for a very stable company like Altair to begin offering career opportunities to local talent, including the excellent pool of engineering students and other very skilled engineers in and around Thessaloniki.”
Both offices, whose customers include Hellenic Aerospace, will maintain a focus on strategic software development in conjunction with leading universities and outside partners.
Altair has 2,000 employees in offices throughout North America, South America, Europe, and Asia Pacific.Images:no images
Gunmen fire on ambassador's home
Athens and Berlin condemn gun attack
Greece will leave bailout scheme in 2014, says prime minister
Antonis Samaras told long-suffering Greeks that the end of the country's financial assistance plan was in sight
Greece will exit its bailout programme next year without needing a third aid package, the country's prime minister announced on Monday as he insisted that citizens could look to 2014 with confidence.
Antonis Samaras told long-suffering Greeks that the end of the country's financial assistance plan was in sight, after almost four years of painful austerity, and that the new year would bring the prospect of normality.
"In 2014 we will make the big step to exit the loan agreement," Samaras said in a nationally televised address. "In 2014, Greece will venture out to the markets again [and] start becoming a normal country," he added. "In the new year, Greek debt will be officially declared viable, meaning there will be no need for new loans and new bailout agreements."
Ireland left its own bailout programme earlier this month, but a Greek exit would be a major milestone in the financial crisis that began to grip the eurozone in the spring of 2010. Greece has already received two aid packages, with around €130bn (£109bn) wiped off its debt pile in 2012.
Greece is expected to finally leave recession in 2014, and investor confidence in the country has grown through the last year. The yield, or interest rate, on its 10-year bonds has fallen to around 8% – compared with 30% at the peak of the crisis – as traders regained faith that the debt would be repaid. Greek government bonds were one of the best-performing assets in 2013, returning 47%.
Analysts, though, are sceptical that Greece will not need further aid next year. It has still not reached agreement with its international lenders over the size of its fiscal shortfall in next year's budget – with troika officials pushing Athens to make further painful cutbacks.
Samaras was elected eighteen months ago, and much of his time in office has been dominated by public anger created by the unpopular austerity measures demanded in return for the country's loans. Political instability has been a constant threat, with his majority now whittled down to 153 of the 300 seats in parliament.
Record unemployment and pay cuts has pushed prices down across the country, and this punishing 'internal devaluation' may continue in next year.
"In Greece, marked deflation has been evident since March and is likely to continue for some time to come," predicted Howard Archer of IHS Global Insight.
Samaras was speaking just two days before Greece assumes the rotating presidency of the EU. There has been concern that Athens' six-month stint could be overshadowed by further bailout negotiations.
Zsolt Darvas, an economist and senior fellow at the Bruegel Institute in Brussels, has predicted that the Greek presidency could be a rough ride:
"It will be very difficult for Greece due to its (internal) problems, its public administration inefficiency and the time pressure imposed by the European Parliament elections," Darvas told AFP.
Eurozone crisisEuropean UnionEconomicsEuropeGreeceGraeme 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 FeedsFrom Gotham to Greek Assassin: BATWOMAN's HADEN BLACKMAN Steps In ...
Shots fired from automatic weapons at home of German ambassador in Greece
Greece won't need more loans, says Prime Minister
Gunmen spray German ambassador's residence in Greece
Greek prison system labelled 'inhumane' by European court
Greece eyes return to bond markets in 2nd half of 2014
Greece 'won't require new aid after bailout exit': PM
Greek Ex-Minister Gets Suspended Jail Term
Greek Prison System Collapsing _ Labeled 'Inhuman'
Our 10 Most Read in 2013: Greece, Cyprus, Tourist Tips and Belgium
Where in the world to invest for a happy new year
Opinions vary, but the economic forecast for 2014 is generally optimistic. We ask the experts for tips on the growth areas
The start of the new year is a time to focus on making a few changes in your life. And for savvy investors that should mean an opportunity to rejig your portfolio. The past year has been good for stock markets, with the FTSE 100 rising by 15%; the wider FTSE All-Share going up by 17%; and the US S&P 500 soaring by 27%. Predicting how markets will perform in 2014 is difficult. "But there are plenty of optimists who believe further gains can be made by picking the most promising regions as economic recovery takes hold," says Adrian Lowcock from financial adviser Hargreaves Lansdown. Here are some expert tips.
The UKMost analysts and fund managers believe there is still potential to make money from UK shares as economic conditions improve. Some are even predicting that the FTSE 100 will hit a new all-time high in 2014, surpassing the 6950 it reached at the height of the dotcom boom in December 1999.
Guy Foster from stockbrokers Brewin Dolphin forecasts that the FTSE 100 will reach 7400 by the end of 2014. Capital Economics, meanwhile, says that the FTSE 100 could hit 7200, while analysts at Citigroup expect the index to reach 8000 next year as fears about a break-up of the eurozone recede while conditions for companies improve. However, not all experts share this optimism.
Jason Hollands from investment adviser Bestinvest sounds a note of caution. "Household debt has been rocketing while the amount people are saving has slumped against a backdrop of ultra-low interest rates," he says. "Even a small rise in interest rates could prove a shock for the economy and the market." Brian Dennehy of FundExpert.co.uk adds: "If the over-valued US stock market slumps it could bring most, if not all, global markets down with it. Also, if bond markets end a 30-year bull run, then all markets could take fright."
To spread risk you could invest through a pooled fund holding a variety of UK shares and sectors. Hollands recommends Liontrust Special Situations, which invests across a range of small, medium-sized and large companies, while Patrick Connolly from financial advisers Chase de Vere favours Cazenove UK Opportunities, Investec UK Special Situations and Rathbone Income.
EuropeEurope is the region most widely tipped to outperform in 2014, according to a survey by the Association of Investment Companies, despite it including plenty of out-of-favour countries such as Greece and Ireland. "All of the negative sentiment surrounding the eurozone doesn't change the fact that many of its companies are performing well, making profits and have large amounts of cash on their balance sheets," says Connolly.
He adds that 50% of European company revenue comes from outside of Europe. Lockcock says: "As the fear of euro-collapse recedes, European fund managers have been increasingly turning towards companies which are more likely to benefit from a recovery in Europe."
However, Connolly warns that European shares are the most vulnerable to shocks in the global economic recovery, and a huge debt burden remains. If you want to take a punt on Europe in 2014, Mike Green, Investment Service Manager at Cavendish Online, says a good pick is Ignis European Smaller Companies. "This has performed consistently well," he says. Meanwhile Lowcock likes Threadneedle European Select and Henderson European Special Situations.
Emerging marketsSome emerging markets could stage a comeback, say experts. Thomas Becket, chief investment officer at PSigma investment managers, points towards China as offering opportunity for investors next year, as it is "under-valued, under-appreciated and under-owned".
India is the favourite for Dennehy. "There is an election next year, and a sense that a pro-business government might take power, a unique positive.
"Also, the new boss of their central bank has pleasantly surprised observers with an outline of much-needed reforms, and India has a huge youthful population which can spur economic growth over the long term."
Edward Bland, director and head of research at Duncan Lawrie Private Bank, also picks India for 2014. "It will be a very interesting year that could potentially set the course for the next decade," he says.
However, Darius McDermott, from execution-only brokers Chelsea Financial Services, favours Brazil, believing it could benefit from hosting the World Cup. "The feelgood factor may lift both spirits and the market in the short term," he says.
Investors should see all emerging markets as a long-term growth story rather than offering potential for swift gains, stresses Kerry Craig, global market strategist at JP Morgan Asset Management. "The next year might still be rocky for many of these economies, but there is no denying their importance in global growth," he says.
To spread your bets among different emerging market economies you could opt for a fund such as Schroder Global Emerging Markets or JP Morgan Emerging Markets, says Connolly.
JapanIts market stormed ahead in 2013 and many experts believe it will continue to thrive. Last month marked the first anniversary of Shinzo Abe's election as prime minister, and it was his economic recovery plan, dubbed Abenomics, that put Japanese shares among the best performers over the past year.
However, shares remain about 50% below their peak in December 1989, suggesting there is further room for growth. Becket says: "Next year we think it could be the year of the Asian equity; a continuation of Japan's stock market renaissance.
"You almost certainly won't get the fireworks that we enjoyed in 2013, but there is absolutely no reason that markets can't appreciate by a further 15%." McDermott also favours Japan and likes GLG Japan Core Alpha, while Becket likes Lazard Strategic Japanese Equity.
Investment fundsInvestmentsInvestingFinancial sectorEuropean UnionEuropeFTSEStock marketsUS economyEconomicsHarriet Meyertheguardian.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 FeedsSchaeuble: Greek EU presidency is an opportunity for Greece and for Europe
Greek Companies Anxious About Turkish Political Instability
NCH Capital Gets Green Light to Develop Greek Island Resort
Greek gov't condemns attack on German ambassador's house
Shots fired at German envoy's residence in Athens; no injuries
Britain's smashing of Greek democracy
Greek Drivers to Pay 58 Euros in Tolls From Athens to Thessaloniki
Greece: Former minister sentenced to 4-year suspended imprisonment
Europe Won't Let Down Greece, Says German Finance Minister -Report
Greece gunmen target German ambassador's home
Gunmen open fire with assault rifle at German ambassador's home in Greece with as more Greeks blame the country for their economic woes
Assailants open fire on home of German ambassador to Greece
German ambassador's Greek home attacked
Europe won't turn its back on Greece: Schaeuble
Germany's inflation angst eases, makes it easier for Merkel to offer Greece debt relief
Long queues at tax offices for final installments and road tax
Greek, German gov't officials condemn shooting outside ambassador's home
Shots Fired at German Ambassador’s Home, Police Suspect Terrorists
ATHENS – The home of Germany’s ambassador to Greece was sprayed with gunfire from automatic weapons early Dec. 30, in a suspected terrorist attack the government said was aimed at hurting the country’s image before it takes over the presidency of the European Union. No one was hurt. Anti-terrorism police cordoned off streets around the […]
The post Shots Fired at German Ambassador’s Home, Police Suspect Terrorists appeared first on The National Herald.
Half of Greeks Want to Leave
Weary of crushing austerity, record unemployment, deep poverty and a future that promises long-term, low-paying jobs and continued high taxes, more than half of Greeks want to leave their homeland to find a better life in other countries. That was the finding of a poll conducted by Kapa Research for the newspaper To Vima that […]
The post Half of Greeks Want to Leave appeared first on The National Herald.