It all seemed to be going so well. Turkey was, it appeared, in the driving seat to be one of five new non-permanent members of the UN Security Council. "We believe, God permitting, that we will get the result of the work we put in" asserted Turkey's new Foreign Minister Mevlut Cavusoglu, speaking from Turkey's pre-election gala at the Waldorf-Astoria Hotel in New York.Although the delegation had loosely been assured of around 140 votes from the UN General Assembly, what transpired seemed to take everybody by surprise with Turkey departing the race in the third round with a mere 60, some distance short of the 129 required to triumph. In its stead New Zealand and Spain took the two available places, and will from January 1st enjoy the prestige of being members of the Security Council for two years. Back in Turkey, for a government unacquainted with losing hard-fought elections, soul-searching is required.The Security Council is the UN's most powerful body, focusing on worldwide peace and security. Five countries hold permanent seats, while ten seats are given to other countries on a rotational, elected basis. While the US, UK, France, China and Russia hold continual positions with full powers plus veto rights, ten other countries with temporary positions are able to make proposals, lobby other members, and vote.This year five countries - Angola, Venezuela, Malaysia, and Turkey's victors New Zealand and Spain - will replace the previous incumbents in a little over two months. Some of these countries that ended up winning have similar or worse human rights records and anti-democratic records to Turkey, and before the vote it appeared that the Turkish delegation was going to get its way. The delegation had been verbally stipulated of around 140 votes, but from a total of 191 available votes it certainly seemed surprising when Spain too had around 150 agreed upon. In an anonymous voting contest, promises are easy to make — but why were these ones so difficult to keep?Ahmet Davutoglu, Turkey's new Prime Minister, seemed bullish prior to the vote. "If we are elected, and we believe it’s a great possibility, we will be the first country in the world to be elected for a second time, after a five-year break. This shows Turkey’s importance.” Turkey won 151 votes in the same contest in 2009, and Davutoglu had some strong reasons for believing in a similar success this time around.Pivotal geo-politically, encompassing a number of new oil and gas pipelines, a founding member of the UN and a member of G20, Turkey has generally won plaudits for its recent building of relatively humane refugee camps that house an estimated 1.6 million Syrian refugees. The world's 17th highest GDP has emerged from the past five years of global economic crisis quite unscathed, and has been trying to take a much more pro-active stance in the region since 2010. Newly inaugurated President Recep Tayyip Erdoğan, as Prime Minister was consistently a vocal opponent of Syria's dictator Bashar al-Assad, and until quite recently this mirrored prevalent world opinion. But as this opinion evolved, Turkey's unchanging stance was landing it in hot water.As the situation in Syria has unearthed new power dynamics, Erdoğan's stubborn anti-Assad and anti-Kurdish position has started to irk those who recognize a differing political landscape painted by the newly empowered Islamic State (IS). Although Turkey has finally started making some concessions to the US, and is now somewhat ostensibly assisting the Kurds in the fight against IS, its overall mixed response to the situation has drawn worldwide indignation.Erdogan has at times seemed more interested in overseeing the destruction of the Kurds, and state border guards have been allowing IS fighters into Turkey for medical treatment while not allowing Kurds from Turkey across the border to assist their brethren in the battle against IS at Kobane. While the General Assembly vote was underway, Turkish fighter jets were bombing a Kurdish village.It appears that Erdogan's obstinacy and pro-Sunni position has prevented him from realizing that Assad needn't be the main target for the moment - and worldwide opinion seems to suggest that the growth of the openly barbaric and power-hungry IS is of greater concern.The Spanish daily newspaper El Pais said that "what is important in the UN is not so much about having friends as having fewer enemies " - and Turkey has been busy making enemies all over the region and beyond. While an anti-Turkey campaign can always be counted on from Armenia, Cyprus and Greece, due to historical wounds that were never healed, and while they haven't been able to count on the vote and lobbying influence of Israel since a falling-out in 2010, other countries in the region have started to pile on the pressure. An Embarrassing Loss Middle Eastern countries such as Egypt and Saudi Arabia lobbied hard against Turkey for its pro-Muslim Brotherhood stance, while Shia-dominated countries are concerned with how Erdogan is rabble-rousing to focus minds on Sunni-Shia sectarian divides. Erdogan has professed support in the past for Sunni militants such as IS and Al-Nusra. Beyond Turkey's immediate neighborhood yet more influence is being lost. A bitter quarrel between Erdogan and his former ally, the popular preacher Fetullah Gulen put paid to much of the African vote. Gulen has a powerful following worldwide, particularly in Africa, with a lot of schools, charities and influence. In 2009, Turkey's previous fruitful attempt to join the security council was partly thanks to Gulen's "Hizmet" Organisation campaigning in that part of the world. For the past 18 months he and Erdogan have been at war, with Erdogan trying to shift his supporters out of the public domain and otherwise diminish his capabilities inside and outside of Turkey. By way of vengeance it seems that the Hizmet organization has triumphantly campaigned against Turkey this time around.Losing clout in these regions might not have dealt the Turkish delegation a mortal blow, had other aspects of Erdogan's governance been popular worldwide. But the way the country is being managed is causing concern, with well-documented evidence of increased anti-democratic behaviour. While this hasn't prevented Venezuela or Angola from entering the Security Council, it seems to have helped tip the balance for a lot of General Assembly members. Turkey always had a difficult hand to play, as it is rather unusual to be voted onto the Security Council twice in four terms, and needed a watertight campaign. A change of tactics regarding Syria, a less bellicose voice in the region, and some sort of truce with Gulen, would have helped matters tremendously."We will not abandon this stance for the sake of votes. We will continue to be the voice and conscience of countries that expect this from us" said Cavusoglu, odd considering the money and efforts invested in victory. But Turkey ought to relish the election in 2018 against Israel, Germany and Belgium, and perhaps now would be an opportune moment for rumination. Erdogan was very keen on this victory, and needs to examine the reasons for defeat. The question is, are the characters involved capable of the kind of soul-searching needed to understand and deal with their mistakes? Blaming meddling outsiders, protesters, Israel, journalists, or even the "Interest Rates Lobby", seems to suffice to his own supporters. But as we learned this week, the rest of the world isn't so easily duped.SEE ALSO: The UN just dealt Turkey a hugely embarrassing blow Join the conversation about this story »
Welcome, 77 artists, 40 different points of Attica welcomes you by singing Erotokritos an epic romance written at 1713 by Vitsentzos Kornaros
Tuesday, October 28, 2014
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A debacle of a football match between Serbia and Albania has triggered a new wave of Balkan political tensions that deepens a traditional gap between the two nations whose historical collision has become an inseparable part of Balkan identity. The night after the football match was abandoned, Albanians attacked the Serbian embassy in Tirana, there were nationalist anti-Serbian protests across the Kosovo and protest of Kosovo high-schools students promoting "Greater Albania". Meanwhile, Serbs burned the Albanian flag in Belgrade and broke windows of Albanian bakeries in Northern Serbia. According to UEFA investigation responsibility falls on both sides. However, there is no explanation as to why did UEFA ignore alerts they had received prior to the match? Who gambled with the Balkan powder keg? Can objective responsibility be measured on both sides? The Serbian half is responsible for the complete disorganization of the match and violence against Albanian footballers in the stadium. Serbian local hooligans, once again, ignored the heavy police presence and chanted: "Kill the Shiptar" ( pejorative name for Albanians), which was later used as a justification for Albanian counter-reaction with drone. The fact that the drone was launched at a time when the Serbian security apparatus should have been at the height of its preparedness for an upcoming military parade and official visit of President Vladimir Putin, testifies to a serious weakness in national security including gaps in the Serbian intelligence service. Although the military planes had "terrorized" the ears of Serbian citizens for days, a small but potentially dangerous toy flew in "Serbian airspace" without any problems . No one identified or tried to stop it. It is quite clear why Michael Platini was very disturbed : "Just imagine that a drone carrying a bomb instead of a flag comes to a ground. Everything is becoming dangerous, especially in the countries where there are a great deal of political tensions." However, Albanian footballers and football fans see themselves as the exclusive victims of Serbian "racism and fascism", although it is obvious that drone incident is a premeditated provocation.. It remains a mystery why some of Albanian players frantically engaged to protect ultra-nationalist flag with an unofficial symbol of Albania. Even the Albanian Prime Minister, Olsi Rama, distanced himself from it saying to Deutsche Welle: "It is neither our national flag nor the flag of any "Greater Albania," but a flying bugbear that we saw for just the first time". Albanian footballer Taulunt Xhaka attacked the Serbian player Stefan Mitrovic whom "shot down" the drone that officially triggered the chaos in the stadium. The lack of political neutrality continues to be evident among some Albanian players after the match. They have supported the idea of "Great Albania" on their Facebook and some of them have verbally insulted Serbs calling them „skijes" (a pejorative for Serb in Albanian). Xhaka is a leader of online provocation. Welcomed as heroes across Kosovo and Albania, they enjoyed absolute media protection. On the other hand, some of their rare compatriots criticized their behavior in Belgrade and are now labelled as a national enemies. Dasar Maltezi, a granddaughter of Albanian ex - PM Sali Berisa condemned her fellow Albanians for "uncivilized behavior and false patriotism" . The Kosovo newspaper Express accused her of "supporting Serbian hooligans." This initiated an avalanche of public outrage among Albanians and she has since received death threats. "Breaking the rules is nothing more than a lack of civilization" she wrote on her FB adding that she cannot understand that Albanians remained proud in spite of ruining the football match. Berisha's granddaughter stated that the Albanian national football team came to Belgrade to play football and they should have played it, instead of "boxing" with Serbs . Serbian media has also been unprofessional. They do not contradict the party line of Prime Minister Aleksandar Vucic who is well known for his revanchist impulsiveness. In local mainstream media it is difficult to find any critical analysis of the incident. Instead, Serbian media covered Vucic's anti-Albanian propaganda based on his own obsession with "Greater Albania" that directly collided with his unrealized political dreams about "Greater Serbia" in the 1990's. Instead of sophisticated, diplomatic vocabulary, Vucic employed hooligan jargon joining Twitter's war between Serbian and Albanian opponents. "Great Albania is nightmare of the whole world so we will do everything to prevent it ." he wrote on his Twitter. However, "the world savior" was unable to prevent it in his own home before he would takes an international mission. He obviously trapped himself in his own bitterness. Albanian Ambassador to Serbia tried to calm the situation stressing that "concept of Greater Albania has never been part of the official idea of the Albanian government". Perhaps he consoled politicians and the masses, but he failed to convince the Serbian historians as to the veracity of his claims. They argue that the idea of Greater Albania (unification of all Albanians in one state) has existed since the 19th century, warning the world that what happened in Belgrade could be the revival of Greater Albania project. The Greek historian Spirydon Stefas joined them and recalled the incident that happened in Greece a year ago when Albanian footballer wore the shirt with the flag of Great Albania the KLA. However, Serbian and Albanian politicians dialed down the hostile rhetoric after Angela Merkel pressured them. Consequently, Serbian and Albanian PMs will meet in Belgrade in the first days of November to discuss how to clamp down on nationalism in the Balkans. Otherwise, the two nations risk being viewed by the rest of the world as no more than aggressive Balkan tribes incapable of even playing a football match without a violent confrontation. As both countries work towards EU ascension the siege mentality promoted in the abandoned match must be subordinated to contemporary values.
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List of the World's Richest Countries and America's Special Role in It
The world's richest countries are the ones where the median wealth per person is the highest. This system ranks nations truly according to the most-representative person in each given nation -- the person who is in the exact middle of that nation's population in terms of per-person wealth. Consequently, for example, if a Bill Gates or other billionaire relocates into a certain country, no matter how small its population is, this won't change that country's ranking, whereas it could raise the country's ranking if the ranking-system were according to the mean wealth per person (i.e., dividing everybody's total wealth by the total population-number). If a billionaire moves into a town where the median person's wealth is $100,000, then that town's mean wealth can increase by a huge multiple, but the town's median wealth would remain unchanged by the addition of that new resident. (Similarly, if the billionaire moved away, the town's per-person wealth wouldn't be affected by it.) To rank countries according to mean wealth would enable a country with only relatively few wealthy people to rank very high as a 'wealthy' nation, even if the vast majority of people there live in poverty and squalor. Only by using median wealth as the indicator of a country's wealth can a ranking system produce rankings that reflect the vast majority of people in each of the ranked nations. It's the only fair international ranking-system for the various nations' wealth: it shows the wealth of the typical person in each country. The most authoritative calculation of per-capita wealth within nations has been performed by the team of world-respected specialists on such matters, who produce the annual Credit Suisse Global Wealth Databook. The latest edition was just now published, their Global Wealth Databook 2014. Following is the rank-order of the richest 33 countries, the only nations (other than a few tiny places such as Andorra and Monaco, which aren't even calculated there) that can reasonably be called "First World," rather than simply "developing" or "outright poor." This is not to say that such a nation as China, which has a median per-person wealth of only $7,033, or Brazil, with $4,772, or Russia with $2,360, or India with $1,006, might not become major economic powers; but the average person in such nations is extremely poor by current First-World standards; and what will be listed below is that First World, as of today, not ten or twenty years from now. The rank-order on this list is according to median wealth. Then there is a dot, followed by a second number, which represents the given nation's ranking in Credit Suisse's 2013 list. There is considerable change among the rankings from year-to-year, and some of this change results from methodological refinements, but there can also be real wealth-changes occurring, such as when the 2008 crash destroyed the values of people's houses, more in some countries than others, and of their retirement accounts. Then, in the listing below, comes the nation's name, followed by the median per-capita wealth there. Then comes a slash (/) followed by the mean per-capita wealth there. The mean per-capita wealth is always higher than the median per-capita wealth, because, even if there were total equality in wealth, the mean would be identical to the median; the mean can never be less than the median; it's always more than the median. The higher the ratio is of the mean/median, the more heavily skewed that nation's wealth-distribution is. The lowest such ratio on this list is Slovenia, $33,395/$21,855, or 1.53. Malta's is 1.71. Belgium's is 1.75. Italy's is 1.84. Luxembourg's is 1.98. Spain's is 1.99. All others are above 2. The highest wealth-inequality is found in U.S., 6.60; Denmark, 6.57; and Switzerland, 5.71. However, Denmark is one of the most-equal countries in terms of annual incomes. The U.S. is the only country that is extremely skewed in terms of both wealth and income. What's shown below relates only to wealth; not at all to income. Here is the list: 1.8. Iceland $104,109 / $234,785 2.2. Luxembourg $93,267 / $184,228 3.7. Japan $92,236 / $191,877 4.3. Belgium $84,526 / $147,824 5.6. UK $76,958 / $162,999 6.5. Italy $65,140/ $119,773 7.1 Australia $54,426 / $103,151. 8.22. Taiwan $48,635 / $107,028 9.14. Netherlands $46,020 / $106,872 10.4. France $44,998 / $103,619 11.9. Switzerland $40,697 / $232,548 12.33. Hong Kong $36,614 / $117,371 13.13. Canada $35,631 / $108,464 14.12. Singapore $33,814 / $112,757 15.16. Ireland $34,651 / $91,334 16.10. Finland $33,517 / $78,532 17.30. Israel $32,456 / $92,507 18.17. Spain $32,443 / $64,521 19.27. U.S. $31,688 / $209,022 20.28. Malta $31,611 / $54,120 21.21. Greece $28,748 / $$57,716 22.11. Norway $25,650 / $110,805 23.20. Austria $24,588 / $91,321 24.23. Sweden $23,246 / $126,304 25.23. UAE $22,736 / $56,794 26.26. Slovenia $21,855 / $33,395 27.25. Germany $21,663 / $89,779 28.30. Portugal $20,663 / $48,008 29.28. Kuwait $18,349 / $52,260 30.35. Bahrain $17,021 / $36,400 31.15. New Zealand $16,871 / $47,748 32.48. Chile $16,536 / $46,697 33.19. Denmark $15,959 / $104,865 That's national wealth, and now it will be related to national power: If the global power-ranking of countries depends upon each country's super-rich -- the billionaires in it -- then the U.S. (with its superabundance of billionaires) will have vastly more power than it has wealth, because it will have a disproportionately large number of the people who are the world's "movers and shakers," the people who fund political campaigns, and who hire former and future government (and NGO) employees ("the revolving door"). The U.S. therefore vastly disproportionately dominates the Forbes list of a thousand people with net worths of $1.8 billion or more. In fact, America's having 1,568 billionaires, or about half of the "movers and shakers" who are eagerly sought out by politicians in every country, gives the United States Government an international clout that is far beyond our nation's wealth, because this is not only vast wealth, but it is also extremely concentrated wealth. This helps to explain U.S. President Barack Obama's phrase referring to our country as "the one indispensable nation." He was indirectly praising the extreme economic inequality in the United States. (He doesn't praise it directly, because he is a 'Democrat.') As was mentioned, this nation is the most unequal among the wealthy ones; so, he proudly insisted, in his speech, that not only has our country been "the one indispensable nation" for "the century passed [sp.: 'past']," but that "it will be true for the century to come." He bragged: "By most measures, America has rarely been stronger relative to the rest of the world. Those who argue otherwise -- who suggest that America is in decline, or has seen its global leadership slip away -- are either misreading history or engaged in partisan politics." It sounded much like George W. Bush. This speech at West Point went on to assert: "America must always lead on the world stage. If we don't, no one else will. The military that you have joined is and always will be the backbone of that leadership. But U.S. military action cannot be the only -- or even primary -- component of our leadership in every instance. Just because we have the best hammer does not mean that every problem is a nail. And because the costs associated with military action are so high, you should expect every civilian leader -- and especially your Commander-in-Chief -- to be clear about how that awesome power should be used." Especially the Central Intelligence Agency has been important in achieving bigger bang for the buck than the military, by secretly (though always violently) overthrowing national heads-of-state in Iran in 1953, Guatemala in 1954, Chile in 1973, and Ukraine in 2014 -- just to mention the CIA's proudest accomplishments. Our President was saying that not every nail needs the same big and expensive hammer such as the U.S. applied, for example, in Iraq in 2003 -- an all-out invasion. He told these graduating cadets: "Class of 2014, you have taken this time to prepare on the quiet banks of the Hudson. You leave this place to carry forward a legacy that no other military in human history can claim. You do so as part of a team that extends beyond your units or even our Armed Forces, for in the course of your service you will work as a team with diplomats and development experts." Of course, those "diplomats and development experts" work with the CIA, but he didn't mention the CIA in his speech. After all, it's a secret agency, and it's always trying to do things cheaply that the military charges a lot more money and American blood to do. (The CIA might be as costly in foreign blood, but that's another story entirely. America's KGB isn't much more popular abroad than theirs was.) This is Obama's vision of how to develop America, when the U.S. Government deals with other nations. NATO relies upon it. If this country weren't the most inequitable of the wealthy countries, his plan wouldn't be able to succeed; it wouldn't be practically feasible. So, Obama is committed to keep things the way they are; he's a national leader who is determined to project his nation's past onto its future, "for the century to come." He has a vision for the country, and it's focused on the past, which he likes just fine. Every conservative should admire him. He is a classic conservative, though not in his campaign rhetoric (remember, he was the candidate of 'change'). However, any intelligent conservative can see that he is actually one of them, despite the liberal phrases. Unfortunately, there aren't many intelligent conservatives. If they understood what conservatism is, they'd probably get a heart-attack before they'd embrace this man. But conservative leaders always rely upon their followers not understanding what they are doing. So, that too is normal for a gifted conservative leader, such as Obama is. Funneling wealth from the public to the aristocracy isn't the kind of operation that politicians want to talk about, unless they are progressives who oppose it; but politicians who do that don't get much support from America's 1,568 billionaires. ---------- Investigative historian Eric Zuesse is the author, most recently, of They're Not Even Close: The Democratic vs. Republican Economic Records, 1910-2010, and of CHRIST'S VENTRILOQUISTS: The Event that Created Christianity.
Greek Households Lost 12.6 Bln Euros Since 2009
Greek households have recorded losses of another 1.4 billion euros from their disposable income during the year’s second quarter, mainly due to raised taxes. Compared with the first quarter of 2014, income and wealth taxes increased by 984 million euros, the Hellenic Statistical Authority (ELSTAT) reported. These further losses in the households’ disposable income, added to the ones recorded in the last five years, stand at 12.6 billion euros in total. The disposable income of Greek households stood at 43.4 billion euros in the second quarter of 2009, while for the same period in 2014 it stood at 30.8 billion euros. According to ELSTAT, in 2014’s second quarter, the disposable income of households and non-profit institutions serving households dropped by 4.3% compared to the second quarter of 2013, to 30.8 billion euros from 32.2 billion. Accordingly, there was a further drop in consumer spending by 1.6% or 500 million euros, from 33.2 billion euros in 2013 to 32.7 billion in 2014. At the same time, the saving rate (defined as gross saving to gross disposable income) stood at -6.2% compared to -3.2% at the same period last year. It is noted that the last time the households’ disposable income had a positive sign was in the second quarter of 2009 and the last increase in consumer spending was recorded in the first quarter of 2010. On the other hand, the gross fixed capital investments of non-financial companies increased since the second quarter of 2013 by 400 million euros or 10.8% to 3.7 billion euros from 3.3 billion euros. Additionally, the investment rate was 25.9% compared to last year’s 23, while there was a reduction in the deficit of the external balance of goods and services by 1.2 billion euros, since Greek exports of goods and services increased by 0.7% and imports dropped by 0.5% compared to the second quarter of 2013.
Draconian Security Measures for Greek Parades
For the third consecutive year, thousands of police officers and strict security measures were deployed in order to shut down Athens’ and Thessaloniki’s centers for the parades commemorating the country’s heroic entry into World War Two. In both cities, the school and the military parades were once again marked by draconian security measures with uniformed and plain clothes policemen protecting local officials from possible threats or protests, while the parents could not see their children parading due to the tight security measures that barred onlookers from most of the route. In Thessaloniki, the striking military parade was once again attended only by state officials, police officers and journalists, who had to show their IDs in order to attend and cover the event. The rest of the people were allowed to watch the parade either at its beginning or at its ending point, and police barricades would not allow them to move closer to the officials’ stand. At the same time, Athens looked like an abandoned city. Syntagma square was surrounded by barricades and access to the areas close to the officials’ stand in front of the Parliament was only allowed to those holding special accreditation. Parents were only allowed to see their children just before the end of the event, on Panepistimiou street. Heavy security and “privé” parades has been the norm since a military parade on October 28, 2010, in Thessaloniki was disrupted by anti-austerity protesters. Politicians were insulted and were forced to flee the scene.
A look back at Fed's QE: Critics warned of disaster, but most economists say program worked
by Associated Press How well did the Fed's stimulus work? by MATTHEW CRAFT, Associated Press - 28 October 2014 12:12-04:00 NEW YORK (AP) — Soaring inflation. A collapsing dollar. Bubbles in financial markets that would soon pop. One presidential candidate even suggested that the Federal Reserve chairman should be roughed up. Over the past five years, as the Fed has pumped ever-more money into the financial system, critics have warned that it would lead to all kinds of disasters. Yet the central bank kept extending its bond-buying program, known by the wonky name of quantitative easing, or QE. It was an unprecedented effort aimed at lowering borrowing costs, encouraging spending and reviving a dormant economy before it could slip back into recession. Now, $4 trillion later, QE is drawing to a close, so the question is: Did it work? Economists have plenty of quibbles, but many agree that the Fed accomplished the bulk of its goals. "Look at us now," says Anthony Chan, chief economist for Chase Private Client in New York. All of the jobs lost during the financial crisis have been recovered. The stock market has more than doubled, and inflation has remained tame. "I have to say it was a pretty impressive success," Chan says. "But other people define success differently." At the tail end of 2008, the Fed cut its benchmark short-term lending rate to a record low to spur growth, then made an historic move. It began the first round of QE, buying $100 billion in bonds backed by mortgages every month. The Bush administration had already hatched a number of rescue programs aimed at patching up the banking system, and so the Fed's initial step met little resistance. Liz Ann Sonders, the chief investment strategist at Charles Schwab, compared the Fed's action to a famous scene in the movie "Pulp Fiction" when Vincent, played by John Travolta, revives a woman near death. "It was like Travolta slamming the needle into her heart," Sonders says. "It was clearly the right thing to do." The Fed's second round of quantitative easing, dubbed QE2, received a hostile reception. In late August 2010, the economy had slowed to a crawl, and the big worry was deflation — a dangerous spiral of falling prices and wages. During a speech that month in Jackson Hole, Wyoming, Fed Chairman Ben Bernanke outlined a turnaround plan. The Fed began buying $600 billion in U.S. government bonds that November to loud protests. QE3 followed the next year, and the heated rhetoric increased. John Boehner, the speaker of the House, argued that the Fed risked creating "hard-to-control" inflation, a weak U.S. dollar and market bubbles. After entering the presidential campaign in 2011, Texas Gov. Rick Perry said that it would be "almost treasonous" if Bernanke "prints more money" ahead of the election. Perry told an Iowa crowd "we would treat him pretty ugly down in Texas." Here's what has actually happened since Bernanke made the case for the Fed's expanded effort in August 2010: — The unemployment rate has fallen to 5.9 percent, the lowest level since July 2008. Back in August 2010, it was 9.6 percent. — The stock market has soared. The Standard & Poor's 500 index has returned 101 percent, powered by a stronger economy, higher spending and record corporate profits. — The dollar has held up against most major currencies. One widely used measure, the dollar index, is 3 percent higher. — Inflation has remained tame, despite all the warnings. Over the past year, overall prices have climbed a modest 1.7 percent, still below the 2 percent annual increase that the Fed targets. To be sure, the Fed's efforts merely contributed to all the good things listed above. But none of the predicted disasters came true. So how did the loudest critics get it so wrong? A common warning was that the policies would erode the dollar's value and cause investors to look for a replacement, like gold or the Swiss franc. Chan says a flaw in this thinking was that it failed to consider that other countries would struggle, too. When investors worried that Greece's debt troubles could tear apart Europe, for instance, they rushed to buy dollars and U.S. Treasury bonds, still considered the world's haven. Long-term interest rates in the U.S. may be low, but sluggish growth across the industrialized world means government bond rates in Japan and Germany are even lower. As a result, foreign banks and investors keep buying U.S. bonds, stoking demand for dollars. "How fast is your country growing, and what are its interest rates relative to the rest of the world? Those are the key things that determine a currency's strength," Chan says. "Guess what? We're now growing faster than Europe. Our success means our dollar should get stronger." Critics also predicted that the Fed would create runaway inflation, a result of pumping so much money into circulation. It was a popular idea, based on the common-sense notion that a flood of dollars would make the greenback cheap. In reality, much of the money never saw daylight. When the Fed bought bonds from big banks, it gave them an electronic credit on their accounts at the Fed. Starting in the financial crisis, the central bank paid interest on those reserves, so big banks could just sit on the money. Excess bank reserves soared from $800 billion at the start of 2009 to $2.7 trillion today. "The criticisms of QE were clearly overblown," says Dean Baker, co-director of the Center for Economic and Policy Research, a liberal think tank based in Washington. "The flip side is that the benefits were exaggerated, too." The Fed has been scaling back its bond buying this year and said it plans to shut the program down after buying a final $15 billion in securities this month. Now, the big question is: When exactly will the Fed start hiking its benchmark lending rate, a move expected at some point next year? Many on Wall Street have faith that the central bank will raise interest rates slowly enough to not derail the recovery. "I'm less worried because I see all the progress," Chan says. "Could the economy lose momentum? Sure. It's like when you get off crutches. You're a little uneasy at first." But some economists still worry that the economy won't be ready when the Fed decides to start raising rates. "The logic of a rate hike is that employment is taking off and the Fed needs to cool the economy down," says Baker. "We're so far from that." Even some optimists expect more market turbulence as the Fed moves closer to its first interest rate hike since 2006. Schwab's Sonders notes that economists and market strategists can usually find similar situations in the past and use them to guide projections. But history offers little guidance for the months ahead. The Fed has never wrapped up a $4 trillion stimulus program and has no experience raising rates from zero. "Usually you can ask, 'When's the last time the Fed did this?'" Sonders says. "But, no, there is no last time." News Topics: Business, General news, Central bank interest rates, Monetary policy, Economy, Economic stimulus, Inflation, Financial crisis, U.S. dollar, Currency markets, Government securities, Swiss franc, Banking and credit, Recessions and depressions, Central banking, Economic policy, Government business and finance, Government and politics, Government policy, Fiscal policy, Prices, Financial markets, Government debt, Government finance, Financial services, Industries People, Places and Companies: Charles Schwab Corp, John Travolta, Ben Bernanke, John Boehner, Rick Perry, Dean Baker, United States, Texas, North America Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Art meets theatre in reworking of Greek tragedy Electra at South Hill Park
Art will turn into theatre in an exciting reworking of Greek tragedy Electra at South Hill Park. Found Space theatre company is presenting a unique ...
Greek musician Evanthia Reboutsika: politics divides, art unites
Greek composer Evanthia Reboutsika made the score for the new Turkish film “Birleşen Gönüller,” which opened nationwide on Oct. 24. (Photo: ...
Speaking up for Greek whistleblowers
A passionate antiquities specialist, K. blew the whistle on malpractice he witnessed on a restoration site. The result? He was called to account and has ...
Niko Niko's One Big Happy Greek Family
From Niko Niko's humbled beginnings as a food stand in 1977, the Montrose Greek restaurant is the embodiment of the American dream.
Stanford researcher explores the truths behind myths of ancient Amazons
They battled the Greek hero Heracles and fought alongside the Trojans in the ... as exceptionally heroic, civilized and worthy counterparts to the Greek ...
10-29-14 Greek Step Tribute
Dolton Park District is having a fundraiser to benefit the “Steven R. Agee II Foundation”. Steven R. Agee II was the College Student that was murdered ...
Draconian Security Measures for Greek Parades
For the third consecutive year, thousands of police officers and strict security measures were deployed in order to shut down Athens’ and Thessaloniki’s centers for the parades commemorating the country’s heroic entry into World War Two. In both cities, the school and the military parades were once again marked by draconian security measures with uniformed and plain clothes policemen protecting local officials from possible threats or protests, while the parents could not see their children parading due to the tight security measures that barred onlookers from most of the route. In Thessaloniki, the striking military parade was once again attended only by state officials, police officers and journalists, who had to show their IDs in order to attend and cover the event. The rest of the people were allowed to watch the parade either at its beginning or at its ending point, and police barricades would not allow them to move closer to the officials’ stand. At the same time, Athens looked like an abandoned city. Syntagma square was surrounded by barricades and access to the areas close to the officials’ stand in front of the Parliament was only allowed to those holding special accreditation. Parents were only allowed to see their children just before the end of the event, on Panepistimiou street. Heavy security and “privé” parades has been the norm since a military parade on October 28, 2010, in Thessaloniki was disrupted by anti-austerity protesters. Politicians were insulted and were forced to flee the scene.
More Than 76 Million Children Live In Poverty In The Developed World: UNICEF Report
Greece had the highest number of children living in poverty at 40.5 percent, part of which was due to austerity measures that were part of a bailout, ...
Xenia Film An Interesting Take on Contemporary Greece
The latest film of Greek director Panos Koutras is a road trip through contemporary Greece that explores the dark edges via song and dance.
Israel, Palestine host first International Organ Festival
... pilgrims and tourists who love music, say the franciscans: "our hope is that, starting from Israel, Palestine and Greece, the festival will, in future years, ...
Quotes from voters in this week's Associated Press Global Football 10
by Associated Press Quotes from voters in the AP Global Football 10 Associated Press - 28 October 2014 11:57-04:00 LONDON (AP) — Quotes from voters in this week's Associated Press Global Football 10 poll: ___ Manos Staramopoulos, Dimocratia, Greece "Real Madrid was eye-catching. Though Carlo Ancelotti's team were behind in the score (against Barcelona), Karim Benzema made miracles. He was everywhere. Defense, center and attack. He helped where there was trouble and scored when he could." ___ Paolo Condo, Gazzetta dello Sport, Italy "I was very lucky to be in the Stadio Olimpico to see the beautiful performance of Bayern Munich against Roma and then in Madrid to write about the 'clasico.' Real (Madrid) and Bayern are top teams, and there were top individual performances from Arjen Robben, Benzema and Isco (Francisco Alarcon)." ___ Chris Tait, The Herald, Scotland "Real Madrid's heavy artillery shot down both Liverpool and Barcelona last week. Their swift, brutal counter-attacks can be a joy to watch, if only for those of us who are not in the line of fire." ___ Tito Puccetti, ESPN, Argentina "The absence of Gareth Bale at Real Madrid forced it to change its tactical picture, and that 4-4-2 gave it strength to face the big teams. It was much more functional than the 4-3-3 at the start of the season." ___ Cedric Rouquette, Eurosport, France "Credit Bayern Munich for the incredible 7-1 in Roma more than the goalless draw versus Borussia Moenchengladbach. When the team can be compared to the Germany world champion and winner in Brazil, it means everything." ___ Marco Monteverde, News Corp. Australia "As ordinary as Guingamp are, Nice midfielder Carlos Eduardo's five-goal effort in his side's 7-2 win should not be overlooked when assessing the week's performance." ___ Tom Timmermann, St. Louis Post-Dispatch, United States "Luiz Adriano scoring five against BATE Borisov (for Shakhtar Donetsk), including two from the spot, couldn't quite edge out some of the really big stars for Real Madrid and Bayern Munich, who did their goal-creating against what, it would seem, was better competition." ___ Aurelio Capaldi, RAI Sport, Italy "Real Madrid rightly celebrated their formidable strike force but managed to beat Barcelona because Iker Casillas made two important saves during some vital moments of 'El Clasico.'" ___ Mike McGrath, The Sun, England "It is impossible to look past Real Madrid as the best team performance of the week. They showed their class and character by coming from behind to win against Barcelona." ___ Sam Tighe, Bleacher Report, England "Manchester United held Chelsea against all the odds. Marouane Fellaini nullified Cesc Fabregas, and all of a sudden, the Blues looked ... human!" News Topics: Sports, Men's sports, Men's soccer, Soccer, Professional soccer People, Places and Companies: News Corp, Carlo Ancelotti, Carlos Eduardo, Barcelona, United Kingdom, Madrid, Munich, Spain, Western Europe, Europe, Germany Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Banks can focus on future after successful stress tests
The clean bill of health that Greek banks secured from the European Central Bank stress tests on Sunday allows the local credit sector to focus on financing the economy and dealing with bad loans, top bankers have told Kathimerini. Not only did the result... ...
Greek Football League: “We are West Africans, We are Not a Virus”
According to BBC, earlier this month, Sierra Leonean footballer John Kamara was allegedly denied training sessions with the club of Lamia, following fears of the Ebola virus epidemic. After what was believed to be a misunderstanding, the 24-year-old striker started the game against Larisa for matchday 3 of the Greek Football League’s 2nd division and it was through a beautiful assist of his that Andreas Vasilogiannis scored Lamia’s first and only goal of the match. In protest of the widespread fear around the world towards West Africans, John Kamara decided to pull up his jersey to reveal the message: “We are West Africans, We are Not a Virus”. In addition, he added the flags of Guinea, Liberia and Sierra Leone to show his support to his fellow West-Africans that play in the Greek League’s lower categories and who have also been treated foully from the mass.
PM Samaras Message on October 28 National Day
A message with multiple recipients was sent earlier today by Greek Prime Minister Antonis Samaras during his message for the “Oxi” national holiday. In his official statement, Samaras underlined that the nation will now be able to move forward, the long-awaited restoration of the economy has been achieved and that Greek people’s sacrifices have already brought results. “Greeks on October 28 honor those heroes who did not hesitate to even offer their lives for Freedom, Democracy and Human Dignity; those who fought against fascism and Nazism, leaving an indestructible legacy to all of us, those who made the Free World talk about the greatness and the offer of Greece to the common struggles,” Samaras said. “The epic of the ’40s, recorded in the brightest pages of modern history, inspires and teaches. It gives us all an opportunity to be taught about unity and commitment to the last battle for our country’s exit from the greatest economic crisis in our post-war history”, he added. “We now move, with faith in our Homeland and trust in Greeks, with solid and confident steps to achieve the restoration of the economy and uplift of our society. The sacrifices made by all of us have already brought tangible results. The start has been made and nobody can stop us. The victory in this relentless conflict will be for all Greeks; because all Greeks will now be able to move in new ways for prospect and hope”, he concluded.
Turkish violations of Greek air space, sea fuel concern
A day after Turkish fighter jets violated Greece’s national air space in the Aegean in a show of force, outgoing Defense Minister Dimitris Avramopoulos on Tuesday underlined that the Greek armed forces would protect the country’s interests. In comments ma... ...
Buildings on shores of Mesolongi Lagoon to be demolished
The Council of State has ordered up to 900 illegally erected buildings on the shores of the Mesolongi Lagoon in western Greece to be knocked down but the process could take years, Kathimerini understands. Local authorities have asked the central governmen... ...
Credit line based on HFSF cash
With the obstacle of the bank stress tests now overcome, the government and the European Commission are putting the finishing touches to the plan for Greece’s future after the bailout program comes to an end, knowing that the 11.3 billion euros in the Hel... ...
Tourism between Greece and Turkey is on the rise
The number of Turkish tourists visiting Greece this year is expected reach a historic high, while the corresponding figure for Greek visitors to Turkey is also set to soar. The latest estimates see over 1 million Turkish tourists visiting Greece – a recor... ...
Volta Taverna: Mediterranean Eats Far from Greece
A plane ticket to Greece could cost you a thousand dollars, but there is no need to even leave Oxford to get some Greek cuisine. Get your fill of ...
Is Barack Obama the Worst President in American History?
After my recent appearance on the Fox News Channel's morning show, "Fox and Friends," Donald Trump, appearing after me on the same show, asserted that my ranking of Barack Obama 34th out of 41 presidents rated--in the new, revised edition of Recarving Rushmore: Ranking the Presidents on Peace, Prosperity, and Liberty--had "zero credibility" because Obama was the worst president in American history. Donald Trump has a right to his opinion and may be an expert on real estate and "shock marketing," but he is an apprentice at American history. With America's ahistorical orientation and restrictive two-party political system, people on the right of the American political spectrum reflexively and viscerally believe that the current left-of-center president is the worst in history; left-leaning people had the same opinion of George W. Bush. Yet in the American two-party system, the parties behave like two giant corporations that are alone in one market--that is a duopoly. They pretend to fiercely compete on the surface but really collude under the table. This fact is hard for the American public to grasp, given the harsh public rhetoric and posturing by both parties and a 24/7/365 cable news environment that feeds on such rhetorical controversy. But the evidence that this sub rosa collusion among the parties exists is that the policy records of "liberal Obama" and "conservative" Bush are very similar. They both started and escalated needless wars, restricted civil liberties in the fight against terrorism, and increased the federal government's role domestically. As an example of their parallel actions at home, they both expanded health care coverage, increased federal intrusion into education, bailed out or socialized industries, doled out goodies on a grand scale to special interest groups, and spent like drunken sailors on domestic programs. Yet, historians do not share the view that Obama and Bush are the worst presidents in American history. They usually pick on people like James Buchanan, Franklin Pierce, Herbert Hoover, and (very unfairly) Warren Harding as being the bottom dwellers. I might disagree with many of such choices by historians, but I don't disagree that Obama and Bush aren't the worst. Naturally, people--especially in America--live in the moment and, given the "crisis" orientation of cable news, think that this is the worst period the country has ever gone through. Not really. In U.S. history, there have been much greater economic calamities and grander needless wars--and thus worse presidents. In Recarving Rushmore, the four worst presidents--falling below both Obama and George W. Bush--were in rank order: James Polk, William McKinley, Harry Truman, and Woodrow Wilson. James Madison was correct that war is the primary cause of big government in American and world history. War creates a national security state, greater government intervention in domestic society and the economy, and promotes the state's erosion of cherished civil liberties. What these four presidents have in common is that they led the country into needless wars that changed America for the worst. James Polk purposefully started a war with a weak state, Mexico, to steal a third of its land and, in doing so, aggravated regional tensions that eventually led to America's most searing and cataclysmic war--the Civil War. William McKinley undertook the Spanish-American War to launch the United States, which had revolted against the British Empire, into its own imperial role by acquiring colonies and beginning the long, interrupted trajectory toward America as an interventionist superpower. Harry Truman converted a local war in Greece into an expensive worldwide Cold War against the Soviet Union, which began with a stalemated hot war in non-strategic Korea that led to the creation of the national security state, the imperial presidency, and the shelving of the traditional requirement that the American people, rather than its leader, would decide if war was needed. Finally, Woodrow Wilson, ignoring America's tradition of staying out of Europe's wars, took the nation into World War I, which laid the seeds for the Bolshevik Revolution, Hitler's rise, World War II, and the Cold War. So Barack Obama is a bad president whose stock is dropping, as I said on the show, because his war against ISIS is likely to make Islamic radicalism and terrorism worse; but Woodrow Wilson is the worst president in American history, because he ruined the 20th century and is now working on the 21st.
The OXI Greeks Need to Say Today
(Emblem of the 8th Infantry Division, the first Greek army unit that faced the Italian army in the Albanian front.) On October 28, 1940, the Italian Ambassador to Greece, Emanuele Grazzi, visited Greek Prime Minister (and dictator) Ioannis Metaxas and demanded that Greece allow the Axis forces of Germany and Italy to enter the country and occupy certain strategic locations. Without much thought, Metaxas answered laconically, “Alors, c’est la guerre” (Then, this is war). Legend has it that his answer was an even more laconic one: “No.” For many people, the word “no” (Οχι in Greek) has since become equivalent to Greece’s defiance against fascism. Or, it rather symbolizes the Greeks’ refusal to succumb to any form of tyranny. The great and victorious effort of the Greek army not only pushed the Italians away, but also cost nazi Germany valuable time and casualties in their plan to conquer Europe. Consequently, the Greek armed forces’ bravery played an important part in the victory of the allied forces against the Third Reich. Seventy-four years later and Greek politicians try to capitalize on the national celebration, each in their own, petty way. They all try to win votes by telling us that they have something in common with the brave soldiers who fought in the snowy mountains of Albania. Today Samaras spoke of “messages of unity” in his announcement for the “Oxi” anniversary. The man who submissively said “yes” to every Troika demand, now tries to tell us that we should learn patriotism by our brave ancestors who said “no” to the forces of fascism. Ironic. On the other hand, the SYRIZA announcement on the “Oxi” day is full of Marxist clichés and inaccuracies, while at the same time tells us that the leftist party is a continuation of the fight those brave men gave seventy-four years ago. The rest of the parties draw analogies with today, and with their hypocritical messages try to tell people who, in the spirit of October 28, should vote for them. I think it’s time that the real Greek people, not the vague, general “Greek people” politicians address, start saying no to things that have brought this country to the brink of destruction. I believe that the number one enemy of Greece is not Angela Merkel, not the IMF, not the new world order, the European Union, the Jews, the communists, the illegal immigrants or the invaders from Mars. What is killing this country is corruption, on every level imaginable. From those who sit in parliament and sell false hopes, to the tavern owner who was stealing oil from cemetery candles to cook for his unsuspecting customers. From the public doctor who won’t operate on a poor patient unless he receives a bribe, to the store owner who will not pay his employees and forces them to quit on account (supposedly) of the economic crisis. This is the kind of people we need to say no to. Let’s say no to those who preach hatred against those who have different political views. Most political arguments verge on hate. A look at social media and the comments on political posts will make you think that half of us wish the other half were dead. Let’s say no to the arbitrary moral superiority of those who believe they possess the “truth” because their party leader tells them so. Those who try to bring us back to the dark days of Civil War and pull us back instead of push forward. Another emphatic “no” should go to those who try to keep Greek people hostages to the same labyrinthine bureaucracy of a corrupt state that stifles entrepreneurship and at the same time forces home foreclosures for a few euros owed to the tax office. To those public employees who take advantage of their position and steal the taxpayers’ money and the equally guilty who protect them. Or to those who instead of serving the public, act like the public pesters them. No to those who believe that schools and universities are the perfect place to recruit voters instead of knowledge institutes. To those who force their political agenda on others by repeatedly occupying schools and universities and don’t allow those who want to learn, go to class. To those who make university buildings look like landfills, like the School of Philosophy recently. Say no to those who promise us everything, knowing that they can give us nothing. To those who plundered public and EU develeopment funds and now they ask us to give the little that we have left to bail them out. To those who know that there are no money to do what they promise but insist that “there is money.” To those who own ten houses and have hundreds of thousands in the bank but pretend they feel for us, they are like us. To those who change political camp when they smell power and money on the other side of the fence. Those who have not worked a single day in their life but pretend that they care for the poor worker. Once we say no to all those Greeks who are directly or indirectly responsible for the current plight of Greece, then we can say no to any enemy who stands outside our borders ready to “invade.” Whether that enemy is the dubious IMF or the strict demands of Frau Merkel.
Greek hoteliers cash in on conferences in September
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Greek Singer Talks About Peshmerga and ExxonMobil in Kurdistan
Greek singer and musician Anfisa Vitali has been living in the Kurdistan Region for almost two years. She sings and plays piano in the well-known ...
Greek Day celebrated at Davies Elementary in Meraux: Class Act
"The students in second grade have been working on Ancient Greek Civilization and Greek Myths since the beginning of September. We thought it ...
Divers recover cargo from ancient Greek shipwreck
DIVERS have discovered cargo from an ancient Greek shipwreck off the ... The sacrificial altar's Greek inscriptions could also provide clues to the ...
Greek youngsters hardest hit by child poverty, UNICEF finds
A report by UNICEF published on Tuesday indicated that a global economic crisis that struck in 2008 has had a major impact on child poverty across the world, with children in Greece and several other European countries the hardest hit. The report, which a... ...
Greek public and private sectors to launch strike action on Nov 27
Civil servants’ union ADEDY has announced that it will join its private sector counterpart GSEE in the 24-hour general strike on November 27. The action is primarily aimed at the government’s 2015 national budget, which is due to be voted through Parliame... ...
Greek ministry planning energy futures market
The Greek Environment and Energy Ministry is planning to create a Greek energy futures market, aiming to play a key role in the region of Southeastern Europe. Minister Yiannis Maniatis (photo) has invited competent authorities to draft an institutional fr... ...
Why the UN Rejected Turkey's Bid for a Security Council Seat?
The Turkish government got a big slap in the face this month when the United Nations General Assembly overwhelmingly voted to turn down its application for a Security Council seat. In effect, the international community was rejecting Turkey's hostile policies both at home and abroad. Turkey's new Foreign Minister Mevlut Cavusoglu and Prime Minister Ahmet Davutoglu had arrogantly predicted securing the prestigious seat for their country. The night before the vote, Cavusoglu had hosted a posh party for UN Ambassadors at the world famous Waldorf Astoria Hotel in New York City. After spending several days in New York to lobby personally the UN delegates, Foreign Minister Cavusoglu optimistically told the media: "We think all our nice efforts will, with the grace of God, be reflected onto the ballot tomorrow. Of course, this is a vote and all kinds of results may come out. But, we believe, God permitting, that we will get the result of the work we put in." Prime Minister Davutoglu was equally optimistic that Turkey would score a "historic victory." Just two days before the UN vote, he proudly announced: "If we are elected, and we believe it's a great possibility, we will be the first country in the world to be elected for a second time, after a five-year break. This shows Turkey's importance." Unfortunately for the Turkish leaders, their expectations did not come true. Despite Cavusoglu's intensive lobbying efforts and earnest wish for divine intervention, only 60 out of 193 UN General Assembly member states voted for Turkey, while its rival, Spain, received 132 votes, winning a two-year term as a non-permanent member of the Security Council. Why did Turkey lose in 2014 more than half the 151 votes it received in its successful bid for a Security Council seat in 2008? Here are the key reasons for Turkey's failure to get elected this time around: - The vigorous campaign by a large number of countries against Turkey's membership: Armenia, Cyprus, Egypt, Greece, Israel, Syria, and Saudi Arabia, among others. - President Erdogan's ongoing acrimonious feud with powerful Turkish Muslim cleric Fethullah Gulen, resulting in loss of General Assembly votes for Turkey from several African countries, where Gulen's followers have an extensive presence. This is a major shift from 2008, when Gulen supporters had secured a large number of votes for Turkey. - Turkish leaders' poor judgment of deciding to reapply so soon after getting elected to the Security Council in 2009-2010. Turkey's reelection would have deprived other countries from serving in that august UN body. - Davutoglu's self-aggrandizing neo-Ottoman yearnings had antagonized most Middle Eastern countries, turning his policy of "zero problems with neighbors" into zero neighbors without problems! Pew Research Center's survey confirms that Turkey's dismal standing throughout the Middle East has sunk to an all-time low. - Erdogan's autocratic rule at home, including the bloody quelling of protests at the Gezi Park, jailing journalists, and blocking Twitter and facebook. His dismissive words, "I don't care what the international community will say," had alienated countless people around the world. The vote against Turkey was UN members' rebuke of Erdogan. Most delegates walked out of the hall during Pres. Erdogan's pompous speech at the UN General Assembly in September. - Tense relations with the United States and Western Europe over Turkey's refusal to support the war against ISIS, and not defending Kurdish civilians who are being massacred by foreign Jihadists at a stone's throw from the Turkish border. As a result, influential commentators called for Turkey's expulsion from NATO and rejection of its application for membership in the European Union. Displeased with Turkey's antagonistic stand, Pres. Obama sent a lowly charge d'affaires of the US Embassy in Ankara to attend Erdogan's presidential inauguration on August 28. By ignoring all these legitimate reasons for Turkey's failure to win the Security Council seat, Foreign Minister Cavusoglu falsely attributed his country's defeat to its reluctance to abandon "its values for the sake of getting more votes." This ridiculous statement is made by the Foreign Minister of a country that has been pouring millions of dollars into the coffers of tiny island states around the world and poor African countries to buy their UN General Assembly votes.
Man charged in Greece home invasion appears in court
Greece police on scene of home invasion in this file photo. ... A Rochester man accused of breaking into the Greece home of a jeweler is continuing to ...
Child poverty up in rich world since start of recession
Norway has the lowest child poverty rate, at 5.3 per cent, whereas Greece has the highest, at 40.5 per cent. The rate in the US is 32 per cent.
Scientists Finally Crack The Code Of The Ancient 'Phaistos Disk'
Scientists have been trying to decipher the mysterious "Phaistos Disk" ever since the 4,000-year-old clay disk was discovered in 1908 on the Greek island of Crete. But no one seems to have been able to translate the mysterious language inscribed on the disk, which dates back to 1700 B.C. and the height of the Minoan civilization -- until now. Dr. Gareth Owens, who has been studying what he cheekily refers to as the "first Minoan CD-ROM," has figured out not only what the language sounded like but also some of the meaning it conveys, Discovery News reported. "In collaboration with John Coleman, professor of phonetics at Oxford, we spent six years producing the best possible reading," Owens, a linguist researcher with the Technological Educational Institute of Crete, told The Huffington Post in an email. (Story continues below) The front of the Phaistos disk, which is 16 centimeters in diameter. The back of the Phaistos disk. The disk can be read in a spiral direction from the outside rim to the inside. Using what previous studies have shown about Cretan hieroglyphics, and the scripts Minoan Linear A and Mycenaean Linear B from ancient Greece, the researcher was able to identify three key words: IQEKURJA, which may mean "pregnant mother" and/or "goddess." IQE, which may mean "mother" and/or "goddess" and which appears repeatedly on the disk. IQEPAJE or IQE-PHAE, which may mean "shining mother" or "goddess." Owens concluded that the disk may contain a prayer to a Minoan goddess. "The goddess mother has been suspected for a century because of what we think we know about Minoan religion, but the point was to prove it linguistically," Owens said in the email. "The proof is in the pudding." Watch Dr. Owens describe decrypting the Phaistos disk in this video of his TED Talk below.