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Saturday, May 31, 2014
Greek EU Presidency Promotes GM Crops in Europe
Mr. Gyros: fast food meets fine Greek fare
Live Commentary
Greek Court Rules on Final Guardianship of Little Maria
Prem Watsa Expresses Full Confidence in Eurobank’s Outlook
Greeks World’s Most Sexually Active
Despite a crushing economic crisis - or maybe they have more time on their hands - Greeks are the world's most sexually active people, going at it three times a week.
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Toronto Greeks Honors The NBA’s Giannis Antetokounmpo
TORONTO, CANADA – Torontonians gained a lot of attention this basketball playoff season for their loud and proud outpouring of support for the Toronto Raptors. The playoff series between our Raptors and the Brooklyn Nets showcased a National Basketball Association (NBA) success story with the right kind of drama – the kind you witness on […]
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Roma girl Maria to stay in Greece
Three men, two women, on the hook for stealing fish
Greek MEPs decided as vote count concludes
Court awards Greek children’s charity custody of Maria
Curtain set to rise on this year’s Greek Festival
Samaras targets end to solidarity tax
Air force seeks F-16 upgrades
Greek Volume Down 0.8 pct in March
Greece World Cup Long Shot
With Colombia favored in Group C, Greece will have to fight it out with Japan and Ivory Coast to advance in the upcoming World Cup in Brazil.
The post Greece World Cup Long Shot appeared first on The National Herald.
Fake Doctor Ran Greek Hospital
Greek authorities said a review of university degrees claimed by Greek doctors has rooted out some frauds, including the director of a hospital on the island of Skyros,
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Greek Vandals Hit Jewish Cemetery in Thessaloniki
Greek Cypriots in first gay pride parade
Greece to Receive $4.64bn IMF Aid Payout
IMF OK’s 3.6B Euro Greek Loan
The International Monetary Fund says it has approved payment of a 3.4-billion-euro (US$4.6 billion) loan installment under Greece's bailout program.
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Ivory Coast defender Kolo Toure has malaria, team expects him to recover for WCup
DALLAS (AP) — Ivory Coast and Liverpool defender Kolo Toure has contracted malaria.
The Ivory Coast team's head of medical staff Cyrille Dah said in a statement that Toure had likely contracted the illness on a trip to the Ivorian capital Abidjan before he joined up with the squad for its pre-World Cup training camp in Dallas.
Dah said Toure fell ill on a flight to St. Louis on Wednesday ahead of Friday's friendly against Bosnia. Ivory Coast lost 2-1 without Toure. Dah said the 33-year-old central defender is undergoing treatment and "will return next week."
Toure has played over 100 games for Ivory Coast, which faces Japan, Colombia and Greece in group games at the World Cup.
Dah said Toure's brother Yaya and Didier Ya Konan were also recovering from minor injuries.
News Topics: Sports, 2014 FIFA World Cup, FIFA World Cup, Malaria, Men's soccer, International soccer, Soccer, Events, Infectious diseases, Diseases and conditions, Health, Men's sportsPeople, Places and Companies: Kolo Toure, Ivory Coast, Dallas, West Africa, Africa, Texas, United States, North America
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Lihadonisia: The Maldives of Greece!
DIMAR Rejects Kouvelis Resignation, SYRIZA Eyes Unity
Cristiano Ronaldo to miss Portgual's Greece friendly through injury
Hard times ahead for Mr. Draghi
“No one’s better than Draghi at saying little, doing nothing and getting results; he’s the only central banker who understands central banking” tweeted Jim Rickards, one of the most prominent analysts and financial writers of our time, a few days ago.
Indeed, Mario Draghi has so far proved to be a master at being loud, alluding to ECB’s imminent intervention in the markets, then doing absolutely nothing, and letting anticipations guide the market. And he has been extremely successful, at least at keeping the euro afloat and managing the confidence crisis in the common currency.
Among his boldest statements, one remembers his July 2012 declaration in which he planned to do “whatever it takes” to save the euro, a statement credited with changing the course of the eurozone’s crisis, without the ECB actually having to purchase a single government bond. In a similar situation, the Fed had to buy up to $85 billion treasury bonds per month in order to stabilize the US economy. Again, last month, Mr. Draghi declared that the ECB was ready to take action and use tools such as government bond purchases to “prevent inflation from falling too much,” a timid way of showing support to government spending programs for creating some growth in the recession-stricken eurozone. Practically, we are still waiting to see some real action in this direction.
All that was fine up to the European Parliament elections, a week ago. Sunday’s 25 May vote came as a shock, although a largely expected one. First, low and declining turnout (only 43 percent this time) is the clearest signal that euroscepticism is on the rise across Europe. Then, and most strikingly, the results positioning extreme-right and left parties on the top in countries such as France, the United Kingdom, Hungary, or Greece is a loud protest against what is elegantly named “the common disinflation experience,” that is: unemployment, worsening working conditions and declining living standards—after all, the EU project was an implicit promise of growing income, less inequality, and better life. The protest vote was also targeting Brussel’s bureaucracy and EU politicians, whose decisions and policies are hardly explained and understood by the peoples of Europe. In sum, the protest vote is a clear and loud request for changing policy—but in which direction?
Here starts the confusion. For most people, changing policy means a departure from Germany’s dictated austerity programs, which comes down to higher public spending and increasing deficits. Which in turns means adding more debt to the existing mountains of debt. But is this a viable solution or a temporary relief measure that will end up with more austerity programs in the future? There is another contradiction too: not all European countries are on the same path; if Italy, France and the South of Europe need “pro-growth” measures, Germany and its close partners are happy to have a rather booming economy. How can we apply a common monetary policy to both cases?
The second approach is to urge governments to hear the message and respond to it through structural changes, that is reforms that will enhance productivity and competitiveness, such as more flexibility in labor markets, opening branches to competition etc. But such reforms aren’t usually welcome by those concerned, and tend to intensify workers’ hardship, at least in the short term. Without the proper explanation to citizens (which is usually the case), intensifying reforms now would be interpreted as “more of the same thing,” which after the rise of extreme parties could be politically suicidal.
Thus, there is not much room for manoeuvre. Under the pressure of public opinion and the enhanced position of eurosceptic parties in the European Parliament, the most probable option will be to “outsource” policy responsibilities to Mr. Draghi’s ECB, who will eventually have to act in the markets rather than regulating the markets through statements. What will be the scope and the effectiveness of such a monetary-only policy to a “reform-averse” Europe, remains to be seen. Did at least the so-called political elites get the elections’ message? Judging from their first reactions to the vote (like those of French politicians speaking about a “wound” or a “fracture”), we cannot be sure. Happily, there is the ECB.
Bon courage Mr. Draghi!
There will be blood
Last week’s very short EU summit (over dinner, inside the Justus Lipsius Council bunker in Brussels), on Tuesday 27 May, two days after the parliamentary elections, left the major groups in the Parliament stunned and furious: the 28 leaders refused to endorse the EPP Jean-Claude Juncker, former Luxembourg prime minister and former Eurogroup boss, as Commission president.
Those who felt most cheated were the Socialists. They had gone as far as to bring their backing to Juncker, candidate of the rival EPP group, agreeing that he should be let to start negotiations for leading the Commission.
As Hannes Swoboda, President of the Socialists and Democrats Group in the European Parliament, bitterly said: “It is comical that Juncker has Socialists’ support but is blocked by the EPP in the European Council”… meaning the big EPP leaders like Angela Merkel, although support for Juncker inside his own faction is also lukewarm at best.
“The European Council is playing a game of hide and seek”, continued Swoboda. "As the Council refuses to accept its responsibilities, we call on Jean-Claude Juncker to start negotiations without a Council mandate. 26 million unemployed people and a stagnating economy do not have the time to follow the Council’s snail's pace.”
The hint to the 26 million unemployed people is, of course, pure rhetoric, as it is unlikely that finding a Commission president more quickly would do anything in the near future for the millions Greeks, and Spaniards, and Eastern Europeans living on dole.
The Council’s refusal to endorse Juncker came as no surprise. All along, the main capitals repeated, on various notes, that they did not agree with the Parliament’s interpretation of the Lisbon treaty and that member countries were not prepared to renounce the prerogative of anointing the Commission boss anytime soon.
The whole process of organising primaries inside the major political parties (on the Socialist side, Martin Schulz was the only candidate) was a ritual of the Parliament’s own making, with which the Council wants nothing to do. The capitals did not ask for it and don’t feel bound to accept the results.The opposition to Juncker is practically unanimous among the 28, and even takes martial tones in Britain’s David Cameron’s mouth.
For the Council, made of the heads of state and governments of the 28, the prerogative to choose a Commission chief of their liking has not only political, but almost metaphysical implications. To lose it, would mean losing control over everything that made the functioning of the EU institutions until now.
Compared with previous nominations of the Commission’s president, the rules are already changed, as it is not possible to use a veto anymore in the Council. The decision will be taken by qualified majority.
Theoretically, nothing stops the leaders to choose an outsider — the name of Christine Lagarde, the head of the International Monetary Fund (IMF), is often heard—, after having “taken into account” the results of the parliamentary elections, in which case they are set for a head-on collision with the Parliament.
It is in this light that one can deconstruct the tone and the conclusion of a surprising lecture given by Christine Lagarde, the IMF boss in London: “Inequality Threatens Democracy”… Newspapers went with paeans like: “Christine Lagarde, best known for lending money to developing countries on the condition that the those states make policy changes—is taking on inequality too, warning in a speech Tuesday that rising inequality is threatening global financial stability, democracy, and human rights.” And so on...
The big game is easy to deconstruct: one should not think that Christine Lagarde, head of the international loan-sharking institution, is suddenly emulating Chomsky, or the Pope... She is, simply put, the ace up the sleeve of the Merkel-Hollande duo, who, with the complicity of other EU capitals, plot to eventually drop Lagarde at the head of the EU Commission.
The drawback is: she is under investigation in her own country, France, in the “Tapie affair”, over her role in a 2008 arbitration that awarded a massive 400 million euros state payout to controversial businessman Bernard Tapie. She was not yet charged, but appeared already in a French court...
All this show that the rules are not at all clear, that nobody knows what to do, and that everybody is trying to buy time.
There is even speculation that a compromise solution would consist in Juncker’s formally getting the job, in order to immediately resign on health reasons. This will then free the capitals of any debt towards the Parliament.
But the Parliament will have the last say, anyway. The deputies will have to approve the choice of the Commission president in July. In case of a contested proposal, a lot of debauching of individual MEPs will take place before then.
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Jewish tombs desecrated at Greek cemetery
Thessaloniki (Greece) (AFP) - A dozen tombs have been desecrated at a Jewish cemetery in the northern Greek city of Thessaloniki, which was home to the country's largest Jewish community until World War II, police said Friday. Unidentified vandals broke into the cemetery on Thursday and damaged flower pots and tombs, prompting the foreign ministry in Athens to denounce an "attack on the Jewish community and on the Greek people." Authorities will "do everything possible to find and arrest the perpetrators of this anti-Semitic and hateful act which runs counter to the democratic values and tolerance of Greek society", Foreign Minister Evangelos Venizelos said in a statement. Jewish community leader David Saltiel "deplored and condemned" the attack, ANA news agency reported, adding however that it was an "isolated incident" that had nothing to do with anti-Semitic attacks carried out in other parts of Europe.
The 90 Greek Beaches Greece Wants to Sell
Jodie Perry to leave Greece chamber
It's Greek Festival time in Newport News
Papa John's goes Greek with new pizza
Olympiakos to Play in NY for First Time 27 Years
FLUSHING – Excitement is building throughout the NY Metropolitan area for the city’s first soccer match by Olympiacos in 27 years. The Greek mega team will face off in the inaugural match of the Guinness International Champions Cup against Italian giant AC Milan at Citifield on July 24. Eight of the world’s top teams will […]
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