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| READ THE ORIGINAL POST AT news.xinhuanet.com |
How the world sees Greece
Sunday, July 13, 2014
China, Greece agree to enhance comprehensive strategic partnership
RHODES, Greece, July 13 (Xinhua) -- Visiting Chinese President Xi Jinping on Sunday vowed to further enhance the comprehensive strategic partnership with Greece. In a meeting with Greek Prime Minister Antonis Samaras, Xi said Greece is a friendly and ...
Chinese President leaves for Brazil to attend 6th BRICS summit
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| READ THE ORIGINAL POST AT zeenews.india.com |
5 Easy Grilled Chicken Recipes from Around The Globe
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| READ THE ORIGINAL POST AT www.dailyamerican.com |
Students caught in Greek power games
Poor funding, political spats, industrial unrest and history of student activism make for unsettled campuses with undergraduates caught in crossfire
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| READ THE ORIGINAL POST AT www.ft.com |
Students caught up in power games at Greece's unruly universities
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| READ THE ORIGINAL POST AT www.ft.com |
Greek shopkeepers stage strike on first day of Sunday trading
Greece may be hobbled by debt and record levels of unemployment, but shopkeepers are damned if they are going to work on the one day many say was given for rest. A law allowing Sunday shopping in 10 tourist regions – enacted last week after a year of ...
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| READ THE ORIGINAL POST AT www.theguardian.com |
Best Stocks: National Bank of Greece (NYSE:NBG), Flexsteel Industries (NASDAQ:FLXS ...
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| READ THE ORIGINAL POST AT www.crazyjoys.com |
The Holly Spirit, a tale of the European South
by
Christos Kissas PhD
The tale is well known in every Southern European country. It all begins with a prominent banker, who usually belongs to a powerful family. The family runs a business empire, spreading to several economic sectors. Family members are connected to politicians and other elite circles in the country. Those circles never question the family’s ways of conducting business. The bank is the cornerstone of the business empire; its role is to channel funds to the other activities. While everyone knows that their practices aren’t exactly transparent, no one is willing to question them. When wrongdoings become too obvious, the authorities order an audit of the group. The audit concludes that some ‘accounting irregularities’ did take place, but no further action is taken. New loans are concluded and more bonds are issued, so that no disturbance occurs in the market. Right up until the group’s problems can no longer be covered. At which point, nobody lends to the group or buys its bonds, and the ‘accounting irregularities’ become a liquidity crisis. A crisis that spreads across the board in all local markets, before becoming international and shaking world markets. End of story.
Thus, it came as no surprise on Thursday, when we learned that ‘Banco Espirito Santo’ of Portugal was in this kind of situation. The Espirito Santo family’s Luxembourg-based group, ‘EspÃrito Santo International’ has significant stakes in Portugal Telecom, the Tivoli Hotels & Resorts chain, as well as hospitals and real estate investments in Portugal and Brazil. The bank itself has lent more than a billion euro to its parent company, a member of the group.
All this would have been just fine, had Portugal been isolated like some island in the South Pacific. Problem is, Portugal is a member of both the European Union and the Euro zone. Immediately after the disclosure of Banco Espirito Santo’s problems to meet payment obligations, a chain reaction started in Europe’s periphery. A Spanish bank called off its bond issue, an Italian company halted its IPO, and trading of several Italian banks was suspended, while Greece had problems with its government bonds issue and finally managed to sell only half of the initially intended amount. Eventually, the Euro fell in the currency markets, as international investors were liquidating significant parts of their euro-denominated assets.
The question is, why can a liquidity problem in a single bank of a Southern European country immediately set the markets in such a turmoil? Especially now, when the worst of the euro sovereign crisis is supposedly over. And what can the relation between a Portuguese bank and the New York Stock Exchange be? Is the market looking for a reason to pull back, or are there any other reasons? Well, the main issue, then again is trust. Nobody really believes that the Euro zone’s problems are over, neither that its banks have been properly cleaned up from their past sins. Even the much advertised ‘stress tests’ performed by ECB do not seem to provide sufficient comfort to investors. Most of the structural reforms remain to be done in the troubled Southern European economies to restore confidence. Meanwhile, even the slightest crack in one of its financial institutions will be enough to shake international markets.
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| READ THE ORIGINAL POST AT www.neurope.eu |
Trending stocks: National Bank of Greece (ADR) (NYSE:NBG), Macy's (NYSE:M), CoBiz Financial ...
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| READ THE ORIGINAL POST AT www.crazyjoys.com |
Out & About: ArtMarket Hamptons and the Greek Festival
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| READ THE ORIGINAL POST AT westhampton-hamptonbays.patch.com |
How a Manuel Neuer penalty could win the World Cup for Germany
Goalkeepers rarely take penalties, even in shootouts, but Germany believe they can rely on their No1, Manuel Neuer, should it go that far in Sundays World Cup final
This has been a World Cup of penalty firsts. We have seen Júlio César cry on the pitch before Brazils penalty shootout against Chile, Louis van Gaal bring on a specialist penalty-saving goalkeeper, Tim Krul, before Hollands shootout against Costa Rica, while Theofanis Gekas, the Greece striker who missed the decisive penalty against Costa Rica, starred in an advert in which he missed a spot-kick before he did it in real life.
In Sundays final, we might see more penalty history: no goalkeeper has ever scored a penalty in a World Cup match. The Germany goalkeeper Manuel Neuer, who was nicknamed the false No5 by a German tabloid after his sweeper-keeper performance against Algeria, is likely to be on the list of kickers for Germany if the final goes to a penalty shootout.
Continue reading... |
| READ THE ORIGINAL POST AT www.theguardian.com |
Ukraine crisis poisons Catholic-Orthodox relations
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| READ THE ORIGINAL POST AT www.ngrguardiannews.com |
Death toll in Aegean Sea migrant boat tragedy reaches four, two dozen missing
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| READ THE ORIGINAL POST AT www.globalpost.com |
SUMMER DAYS: Mount Gretna offers nature, art, fun and ice cream
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| READ THE ORIGINAL POST AT lancasteronline.com |
New hopes of lottery funds to boost plans to save Glasgow 'Greek' Thomson building
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| READ THE ORIGINAL POST AT www.heraldscotland.com |
Sampdoria preparing swoop for released Celtic striker Georgios Samaras
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| READ THE ORIGINAL POST AT www.dailyrecord.co.uk |
Greece: Huge blaze threatens residents of Keratea
Fire crews in Greece worked through the night on Saturday to battle a huge blaze threatening residents of Keratea, a town some 30 kilometres from Athens. What started the fire is unclear, but hot temperatures combined with strong winds have encouraged it ...
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| READ THE ORIGINAL POST AT www.euronews.com |
Greece finds 2 more migrant bodies at sea
Greece finds 2 more migrant bodies at seaYahoo NewsATHENS, Greece (AP) — Greek authorities say they have discovered two more dead migrants at sea, increasing the death toll of a boat sinking to four. The bodies, a man and a boy, were discovered off the coast of the island of Samos, in the eastern ...Death toll in Aegean migrant boat shipwreck raised to 4The Newsall 4 news articles »
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| READ THE ORIGINAL POST AT news.yahoo.com |
Greek firefighters battle bushfire near Athens
Press TVGreek firefighters battle bushfire near AthensPress TVLocal mayor Costas Levantis told Greek media that one house has been burned down by the flames. Authorities have dispatched 120 firemen, two planes, two helicopters and dozens of firefighting vehicles; however, they have so far failed to extinguish the ...Greek firemen battle wildfire near Athens, two houses burn downShanghai Daily (subscription)Greek wildfires burn down one home, threaten othersCTV Newsall 40 news articles »
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| READ THE ORIGINAL POST AT www.presstv.ir |
Tourist embrace the history of Greece from the mainland
To get a true sense of Greece, both its past and its present, travelers need to visit the mainland. Too many visitors fly to Athens, then take off for one of the islands. The allure of the islands is understandable, but the mainland completes Greece's ...
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| READ THE ORIGINAL POST AT www.twincities.com |
Greece battles to defuse ticking debt bomb
Greece battles to defuse ticking debt bombYahoo News UKThe number of defaulting debtors like Pikrodimitris is growing in Greece, and experts are warning that the situation could blow up and smash hopes the country can finally emerge from a crippling six-year recession this year. Greece's central bank said ...and more »
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| READ THE ORIGINAL POST AT uk.news.yahoo.com |
Greek Night
When: Sun., Sept. 7, 5:30 p.m. Price: $35 Comments that are not contributing to the conversation will be removed. Comments that include ad hominem attacks will also be removed.
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| READ THE ORIGINAL POST AT www.indyweek.com |
Crowd savors Greek specialties at Merrillville fest
Crowd savors Greek specialties at Merrillville festPost-TribuneThe official loukamades maker of eight years has yet to find any that are as world-class as the ones at Saints Constantine and Helen Greek Orthodox Cathedral's annual Greek Fest, going on this weekend on the church grounds. And he's tested many a one.
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| READ THE ORIGINAL POST AT posttrib.suntimes.com |
Not fast food, but Greek food Souvlaki Fast
In a sprawling shopping plaza that looks like a holdover from at least the 1980s, there's a new fast food find in town. Set in among the dance studio, laundromat, auto care and drug store, Souvlaki Fast looks like one more standard storefront, until you go ...
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| READ THE ORIGINAL POST AT www.examiner.com |
A little piece of Greece
A little piece of GreeceGlens Falls Post-StarSOUTH GLENS FALLS — The scent of fried bread dough filled the air Saturday as the 5th Annual Adirondack Greek Festival got underway at St. George Orthodox Church in South Glens Falls. Pete Fidopiastis, the committee chairman of the event for the past ...
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| READ THE ORIGINAL POST AT poststar.com |
Why everyone should join Greek life
University PressWhy everyone should join Greek lifeUniversity PressI can't count how many times I've heard that line since I joined three years ago. I get it; I'm not your typical Elle Woods, bow-in-the-hair, Lilly planner* kind of girl. Before I joined, my most creative outfit consisted of my Apple uniform and ...
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| READ THE ORIGINAL POST AT www.upressonline.com |
Hand grenade found outside Kathimerini-Skai headquarters
Members of the Greek counter-terrorism squad were called to Skai and Kathimerini media group headquarters in Neo Faliro, southern Athens, on Saturday, to remove a hand grenade discovered outside the premises.
An employee reportedly spotted the device, whi... ...
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Two arrested in Katerini robbery
Police in Katerini, northern Greece, detained two men aged 20 and 29 on Saturday who allegedly posed as Public Power Corporation (PPC) workers and robbed an 80-year-old woman of the sum of 9,000 euros.
According to the case file, the two suspects entered ... ...
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Coalition eyes tax, debt relief
As troika mission chiefs enter the final stretch of an informal inspection of Greece’s economic reform program, Kathimerini understands that the government is focused on a medium-term plan to introduce tax relief despite creditors’ skepticism and to bring... ...
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Ministry to work with Interpol to trace artifacts
The Culture Ministry plans to cooperate with Interpol in a bid to trace some 100 Greek artifacts that have been missing since World War II and the subsequent Greek Civil War, Kathimerini has learned.
The initiative comes in the wake of the return to Greek... ...
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
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