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

Friday, November 7, 2014

4.8 Magnitude Earthquake Hits Northern Peloponnese

A 4.8-magnitude earthquake shook the cities of Patras, Aegion, Nafpaktos and other areas of the northern Peloponnese at 7:10pm on Friday evening, according to Athens’ Geodynamic Institute. The tremor occurred at a depth of 5 km and its epicenter is located in the western Corinthian Gulf. Earthquakes have historically caused widespread damage across central and southern Greece, Cyprus, Sicily and other neighboring regions. In January, a series of strong earthquakes on the island of Kefalonia damaged hundreds of homes and injured more than a dozen people.


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Greek official: We must keep reforms

Greece's minister of public order said a recent rise in Greek interest rates is a warning that the country can't undo reforms.


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Greek official: Markets are sending us a message

Greece's minister of public order said a recent rise in Greek interest rates is a warning that the country can't undo reforms.


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Canada and Greece exchange historic exhibitions

More than 120 Haida artifacts are expected to travel to Greece, perhaps as early as next year, in what's being billed as the first-ever touring exhibition ...


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1 taken to hospital after Greece home fire

Greece firefighters said the fire started around 1:45 p.m. on the second floor in ... was taken from the home on a stretcher, according to Greece police.


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Woman injured in fire on Cherry Creek Lane in Greece

Crews say, when they arrived on scene, they saw heavy smoke coming from the rear of the home and neighbors pulling an "elderly" woman from the ...


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'Polar Express' to be shown at Greece Athena

The Greece Central School District is offering a Family Movie Night at 6:30 p.m. Nov. 21 at the Athena Performing Arts Center, 800 Long Pond Road.


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Renewed Flood Threat From Italy to Greece

On the heels of days of flooding rainfall, additional rounds of flooding rain are expected across the Mediterranean next week. In a similar setup to this ...


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Greek Urban Gymkhana Karting Might Give Ken Block a Few Ideas

The temptation to ride vehicles which are not street legal around on the street in the middle of the city is a strong one, we understand this. But the ...


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Troika dismisses tax arrears law

Just a day after securing the Eurogroup’s approval for a precautionary credit line to exit the Greek bailout at the end of the year, the government has encountered a new problem with the troika, which has taken exception to a new law increasing the number... ...


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Demographic threat to social security system

The demographic threat is evolving into one of the social security system’s biggest, both in Greece and the European Union in general. The latest EU report on the bloc’s aging population showed that the prospects are particularly concerning in Greece, as ... ...


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Two Greeks Among Australia's Richest Young People

nick-georgalis-660 Two Greek-Australians were included in the list of the 100 richest young people in Australia, in the “under 40 years old” category.


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New Significant Drop in Athens Stock Exchange

Athens Stock Exchange (ASE) General Index closed at 910.50 points on Friday with a 5.38% drop, or 51.81 points lower than the previous closing, while turnover was 101 million euros. The drop is estimated due to the climate created after the Eurogroup, where Greece’s next day after exiting its EU/IMF bailout program is being tabled. European and Greek officials’ statements regarding the possibility of a precautionary credit line seem to worry investors who also reacted negatively because of the ongoing speculation regarding February’s Presidential vote that might lead to early elections and political instability. According to Bloomberg, the Eurozone indicated to Greece that it should remain under tight control before exiting its bailout program, underlining the political risks Prime Minister Antonis Samaras is facing, at a time that he wants to avoid early elections. Analysts estimate that the Eurogroup’s result does not guarantee prospects of political stability for the country. In addition, the 10-year Greek benchmark bond was increased by 0.2% since Thursday, reaching 8%.


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How the Oligarchs Ruined Greece But Profited Themselves


While Greek Prime Minister and New Democracy Conservative leader Antonis Samaras is touting a looming recovery from a crushing economic crisis evidence aboundsthe country’s ruling elite, business executives and politicians are prospering from everyone else’s misery. The post How the Oligarchs Ruined Greece But Profited Themselves
 appeared first on The National Herald.


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New state broadcaster, same old problems

One year ago, police expelled occupying journalists from the broadcasting center of Greek state broadcaster ERT. An allegedly independent successor, NERIT, was then established. Jannis Papadimitriou reports from Athens.


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Greece Earthquake Today 2014 Strikes Temeni

ST LOUIS (LALATE) – A Greece earthquake today 2014 has struck Temeni. The Greece earthquake today November 7, 2014 began within the hour. Damage assessment is pending. USGS indicates to news that a 4.9 magnitude Greece earthquake today started just after ...


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Good opportunities for Greek strawberries and kiwis in Romania

Following the upward trend of Greek vegetables in Romania, a growing interest has also been registered in the import of Greek strawberries and kiwis ...


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More street lights planned for DeKalb's Greek Row

ComEd is going to install 16 street lights in the Greek Row area, adding to the 32 lights already in place. The new lights will run along the 800 and 900 ...


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Greece's Eurobank Posts Lower-Than-Expected Losses

ATHENS--Greece's third-largest lender by assets, Eurobank Ergasias SA (EUROB.AT), reported a better-than-expected third-quarter net loss Friday ...


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This Funny World Map Shows What Every Country Leads The World In

A wonderful map created by William Samari, Ray Yamartino, and Rafaan Anvari of DogHouseDiares illustrates what every country does better than every other country. They collected the information from various sources and sprinkled in some quirkier rankings since many countries led the world in multiple things.  "Myanmar leads the world in 'Speaking Burmese.'  That's kind of a silly thing but still true," Anvari told BI. "UK leads in fascist movements, but that's all movements in history, not active movements." (Click on the map for a larger version. The full list of countries is below the map.) Country Leads World In… Measure Afghanistan opium total Albania –   Algeria middle paleolithic flake tool techniques   Andorra reading rate Angola speaking umbundu   Antarctica emperor penguins endemic Antigua and Barbuda –   Argentina exporting soccer players   Armenia –   Australia deadly animals and melanoma total and per 100,000 people Austria mohnflesserl   Azerbaijan software piracy avg per computer Bahamas –   Bahrain –   Bangladesh peacekeeping total and per 100,000 people Barbados –   Belarus wisents   Belgium relaxing % Belize destroying the ozone per capita Benin –   Bhutan farming % Bolivia brazil nuts total Bosnia and Herzegovina having land mines total per sq mi Botswana diamonds   Brazil making coffee total Brunei –   Bulgaria living the american dream rate Burkina Faso illiteracy rate Burundi unsatisfied index Cambodia long alphabet total Cameroon killer lakes   Canada maple syrup and asteroid impacts total Cape Verde –   Central African Republic expensive internet total Chad not wasting electricity per capita Chile staying married crude divorce rate (per capita) China co2 emissions and renewable energy total Colombia rain avg Comoros –   Congo, Democratic Republic of pygmy chimpanzees endemic Congo, Republic of saving energy   Costa Rica happiness index Côte d’Ivoire (Ivory Coast) malaria deaths per 100,000 people Croatia –   Cuba baseball total Cyprus –   Czech Republic beer consumption per capita Denmark education index Djibouti –   Dominica –   Dominican Republic –   Ecuador endangering plants total Egypt africa cup of nations total El Salvador –   Equatorial Guinea –   Eritrea african cycling   Estonia prevalence of women sex ratio (total) Ethiopia employing children percent Federated States of Micronesia –   Fiji –   Finland drinking coffee per capita France tourism total Gabon sun-tailed monkeys   Gambia not spending money on military total reserves Georgia khachapuri   Germany almost winning the world cup total Ghana –   Greece olive oil consumption per capita Greenland personal space pop per sq mi Grenada olympic medals per capita Guatemala –   Guinea-Bissau –   Guyana –   Haiti –   Honduras homocide rate Hong Kong high IQ avg Hungary canoeing total and total Iceland penetrating the internet percent India movies and low prices total Indonesia volcanoes total Iran brain drain total Iraq not safe for journalists total Ireland quality of life score Israel r&d % of gdp Italy UEFA competitions total Jamaica –   Japan robots per 10,000 manufactoring workers Jordan large falafel balls total Kazakhstan uranium total Kenya flowers total Kiribati –   Kuwait highest valued currency exchange rate Kyrgyzstan walnut forests total Laos solar energy per capita Latvia eco-friendly index Lebanon –   Lesotho mortality rate Liberia –   Libya heat avg Liechtenstein teachers per capita Lithuania –   Luxembourg generosity per capita Macedonia –   Madagascar lemurs total Malawi malawisaurus   Malaysia caves total Maldives –   Mali kulicoro firefinches endemic Malta –   Marshall Islands –   Mauritania –   Mauritius –   Mexico getting struck by lightning, cartels and boxing total and total Moldova alcohol consumption per capita Monaco –   Mongolia velociraptor bones   Montenegro –   Morocco couscous none Mozambique –   Myanmar speaking burmese total Namibia wealth inequality wealth gini Nepal not killing themselves per 100,000 people per year Netherlands tall people avg male and female height New Zealand sheep and rugby totaland total Nicaragua –   Niger making babies births per woman Nigeria yams total North Korea censorship index Norway democracy index Oman –   Pacific white shark cafe   Pakistan field hockey total Palau swimming with jellyfish   Palestinian Territory not having cancer per 100,000 people per year Panama defenselessness total Papua New Guinea linguistic diversity index Paraguay drinking tea per capita Peru sandboarding   Philippines social media percent Poland kielbasa subjective Portugal graduating high school rate Puerto Rico –   Qatar GDP per capita Romania download speed   Russia raspberries and nuclear warheads total Rwanda women in parliament % of seats held San Marino –   Sao Tome and Principe –   Saudi Arabia oil total reserves Senegal –   Serbia water polo   Seychelles –   Sierra Leone –   Singapore science total Slovakia making cars per capita Slovenia casinos per 1,000 inhabitants Solomon Islands –   Somalia pirates total South Africa ostrich total South Korea workaholics hrs per year per person South Sudan inflation rate Spain organ donation rate Sri Lanka cinnamon   Sudan –   Suriname forests percent Swaziland –   Sweden atheism total Switzerland employment rate Syria –   Taiwan –   Tajikistan –   Tanzania national parks and wildlife   Thailand rice exports   Timor-Leste –   Togo bad driving road death per 100,000 cars Tonga –   Trinidad and Tobago –   Tunisia gun control per capita Turkey apricots total Turkmenistan corruption index Uganda young people median age Ukraine population control percent United Arab Emirates prevalence of men sex ratio (total) United Kingdom fascist movements total Uruguay eating beef   USA falling off beds and chairs, getting killed by lawnmowers, nobel laureates and eating hot dogs total Uzbekistan being double landlocked total Vanuatu –   Vatican City –   Venezuela miss universe total Vietnam economic growth index Western Australia (ocean) deadly shark attacks total Western Sahara –   Yemen gender gap index Zambia rhodesian giraffe index Zimbabwe commercial bank prime lending rate total SEE ALSO: These Fascinating Maps Show The Origin Of Words We Use All The Time NOW WATCH: 9 Maps That Show How Americans Speak In Different Regions Join the conversation about this story »


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Greece tells Turks to stop harassing Cyprus over gas

Greece called on Turkey on Friday to stop provoking Cyprus as it seeks to develop gas and oil reserves within its exclusive economic zone (EEZ), while Nicosia repeated that any gains will only be shared with Turkish Cypriots after the conclusion of a reun... ...


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Province Publishes Article on Greek Diet

An article entitled “Gluten Free Greek and 6 key ingredients in a Greek kitchen,” written by journalist Samantha McLeod, was published in one of western Canada’s most popular newspapers, Province. The article which included photographs and an ...


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Train kills 2 immigrants near Greece's border with Turkey, driver arrested

Greek police say two men, believed to have been Syrian refugees who entered the country illegally, have been hit by a train and killed close to Greece's eastern border with Turkey.


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Greek police arrest 3, seeking 2 in connection with heroin haul

Two Greek men aged 45 and 48, as well as a 50-year-old Albanian man have been arrested in Athens and Volos on suspicion of being part of a drug-trafficking ring. Two more Albanian nationals are being sought, said police. The men were found in possession o... ...


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Three killed, one injured on same Greek road in 45 mins

Three people were killed and one injured in three road accidents that occurred in a 45-minute spell on the same stretch of the Thiva-Livadia national road on Thursday night. Two men, aged 42 and 61, were killed when a truck collided with a tractor. A crow... ...


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Big Athens cocaine haul suspects remanded in custody

The three men arrested earlier this week in Voula, southern Athens, after 233 kilos of cocaine were found in a rented home were remanded in custody on Friday. Of the three suspects, only the Greek man spoke before a prosecutor, denying that he was involve... ...


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Rouble rocked while US jobless rate drops to six-year low business live

Rolling coverage and reaction, as the rouble recovers on hopes of central bank action, and the US non-farm payrolls report is strong, adding to the likelihood of the Fed being the first major central bank to hike interest rates 5.54pm GMT Over to Greece where government leaders are expressing optimism that the debt-stricken country is inching ever closer to exiting its EU-IMF sponsored bailout programme. From Athens our correspondent Helena Smith reports:Hours after euro area finance ministers agreed to consider throwing Greece a precautionary credit line, Athens deputy prime minister Evangelos Venizelos said the decision had effectively launched the countrys exit from often onerous international supervision. The eurogroup meeting fits absolutely with our planning, he told reporters, reiterating that the governments aim was to strike a deal with lenders by years end. The goal is to have left the regime of the memorandum and troika [oversight] and to have returned to [having] a status of essential equality in the eurozone without emergency mechanisms such as the troika. There will be nothing better. 5.37pm GMT There was a two way pull on the market, with early gains after the ECBs hints on Thursday of further action to help the struggling eurozone economy. But worries about further Russian incursions into Ukraine, not to mention a volatile rouble, punctured the optimism, and worries about a slowdown in the banking sector with poor loan growth did not help matters. A revival in mining shares helped keep the UK market in positive terrritory, but elsewhere the picture was more negative. The final scores showed: 4.48pm GMT Martin Wolf brings the session to an end by saying: We dont seem to have reached 100% consensus on all subjects and says another symposium next year might be needed to resolve outstanding issues. 4.43pm GMT Speaking on the issue of whether the euro should have devalued, the ECBs Benoit Coeure said that, given the large eurozone current account surplus, it was not clear that a weaker euro was the right solution to growth problems. 4.37pm GMT First interesting comment heard from the Bank of France conf: Coeure says that if instruments don't work on inflation, will try others #ECBECB's Coeure: If ECB measures don't boost inflation, it must find other ones. Must meet 2% inflation target | http://t.co/E7oiUiMQzI 4.23pm GMT Now to questions, and asked about fiscal policy structures, Janet Yellen said: In thinking about fiscal policy, having a long term target for sustainable debt to GDP is important.The IMFs Christine Lagarde said EU fiscal goals may need a rethink and a reset, given how the situation has evolved. 4.14pm GMT ECB board member Benoit Coeure said at the Paris symposium that eurozone leaders needed to take steps on structural reform at their December meeting.He said monetary policy should be used where possible to get inflation back to 2%.#ECBs Coeure: Sees Limited Scope For Global MonPol Co-Ordination#ECBs Coeure: Eurozone Has Limited Fiscal Space, Faces Challenges To L-Term GrowthAfter @ecb's Coeure's speech, Martin Wolf says: Now let's move on to "a functioning federation" w/ a "more or less legitimate government" 3.56pm GMT Banks were responsible for the financial crisis, says Raghuram Rajan, governor of the Reserve Bank of India at the Paris symposium, but he wondered whether regulation had now gone too far and was hurting risk taking.He said: Banks have cried wolf too often so they have very little credibilty when they cry wolf again. But equally they are now stepping away from risks, he said. This could harm economic growth, so a balance needed to be found. 3.48pm GMT More from Federal Reserve chair Janet Yellen at the Paris symposium (from her yet to be delivered comments), courtesy Reuters:Yellen said politicians across the globe should make sure their fiscal houses are in order during good times, so they can support economies when things go bad, blaming part of the slow recovery on weak government support.Yellen said that as the financial crisis took hold in 2008, central banks were forced to turn to unconventional tools such as large-scale bond buying programs to prop up their economies. The tools helped support domestic recovery and global economic growth, but more action from fiscal authorities would have been helpful, she said. 3.37pm GMT On Europe, Lagarde said ECB president Mario Draghis comments that the central bank was ready to do more to stimulate the flagging eurozone economy were perfectly legimate and appropriate.#IMFs #Lagarde: Some Euro Countries Risk 'Outright Deflation' 3.32pm GMT Central banks need to normalise policy as the global economy and inflation return to a more usual situation, said US Federal Reserve chair Janet Yellen, but this could lead to financial volatilily.In remarks prepared for the Bank of France symposium in Paris which she will deliver shortly, Yellen said the Fed was trying to clearly communicate its intentions on interest rates to minimise any surprises for global markets. Last week the Fed ended its bond buying programme, but markets are now awaiting the first rate rise, which is not expected to come until mid-2015. 2.43pm GMT Here is our full story on the US jobs numbers. The US unemployment rate fell to its lowest level since 2008 on Friday, in a move hailed as a sign of progress by economists despite 9 million people remaining out of work, writes Heidi Moore in New York. 2.40pm GMT European stock markets are still down, with the FTSE 100 the only major index that is trading higher at the moment, up some 20 points, or 0.3% at 6564.88. 2.39pm GMT On Wall Street, the Dow Jones opened some 40 points lower at 17514.56, a 0.2% drop, while the Nasdaq was flat. The dollar slipped initially after the headline non-farm payrolls figure came in lower than expected, but is now bouncing back as traders realise that the overall report is actually pretty strong. The figures support the Feds exit from the five-year quantitative easing, highlighting contrasting monetary policy between the US on one side, and Japan and eurozone on another, all to the favour of the US dollar. 2.31pm GMT The Russian central bank said a decision to intervene in the forex markets to prop up the rouble could be taken within several minutes and without prior warning. It considers the rouble undervalued and expects a certain correction in the exchange rate.Russian central bank hitting the panic button on FX http://t.co/o2lgjubu6h 2.24pm GMT Russias central bank said it is prepared to step up its interventions in the currency markets to defend the rouble at any moment. It added that it was willing to use other instruments (such as interest rates?) to support the currency. It also admitted that the situation is causing concern among the population. The rouble has lost nearly 30% against the dollar so far this year. The rouble is now down 0.54% on the day, less than before the statement. 2.17pm GMT Paul Ashworth, chief US economist at Capital Economics, concurs:This is a strong report that suggests the first rate hike is coming soon. We expect the Fed to start tightening in March next year. 2.14pm GMT Chris Williamson, chief economist at Markit, says:Buoyant labour market data, plus signs that the US economy is growing strongly despite slower growth elsewhere in many countries, adds to the likelihood of the Fed being the first major central bank to hike interest rates. Further robust data in coming months will fuel expectations that the first rate hike could occur early next year, earlier than current expectation of a mid-year hike, though policymakers will want to see wage growth revive before being comfortable with raising households borrowing costs. 2.04pm GMT On balance this was actually a strong report, despite the headline payrolls miss, concludes Marc Ostwald, strategist at ADM Investor Services International. He notes that the US underemployment rate dropped to a new cyclical low 11.5% from 11.8% and there has been significant acceleration in the fall in recent months, which will not go unnoticed by Yellen & Co. Payrolls were disappointing in terms of the breadth of payrolls gains, which were still heavily concentrated in lower-paid services jobs (retail & leisure/hospitality). Once markets delve into the details, they should come to the conclusion that the risks in terms of Fed rate timing is that they move earlier than June 2015. 2.00pm GMT European stock markets are still in the red, while the FTSE 100 index in London is holding on its gains. It is trading some 33 points higher at 6584.36, a 0.5% rise. Germanys Dax has slipped 0.2%, Frances CAC has shed 0.3%, Italys FTSE MiB has lost 0.9% and Spains Ibex is down 1%. 1.56pm GMT The US labour report for October doesnt really change the positive story on the US economy, says ING economist James Knightley. To recap: payrolls rose 214,000, which was a little softer than the 235,000 consensus, but there was a net 31,000 upward revision for the previous two months so in that respect the jobs number is pretty much in line with what was expected. Underemployment also fell nicely to stand at 11.5% while the proportion of people employed rose to 59.2%, the highest rate since 2009. The one real disappointment was on the wage front. Average hourly earnings continue to grow at just 2% YoY despite the employment cost index report suggesting that worker compensation costs are rising. Nonetheless, with unemployment continuing to fall, thereby shrinking the pool of available labour, we expect wages to eventually respond. While todays report is unlikely to have any major market implications, the underlying story for the household sector remains very positive. With employment rising nicely, gasoline and mortgage rates plunging and equities hitting new highs we should expect to see ongoing strong readings for consumer confidence and spending, which bodes well for 4Q GDP growth. Moreover, with the eurozone and Japanese central banks continuing to provide aggressive stimulus, the positive US dollar environment looks set to continue. 1.49pm GMT A little bit for everyone in the US jobs report... Jobs report is quite alright, better than the headline http://t.co/ull86lB7HiHere's your chart on US unemployment and non-farm payrolls gains - looking pretty pic.twitter.com/yQLuOst5vQ 1.44pm GMT At the same time, wage growth remains subdued. Average hourly earnings rose only three cents last month, leaving the year-on-year change at 2%, way below the pre-recession levels. 1.42pm GMT Job growth in the US has exceeded 200,000 in each of the last nine months, suggesting the recovery is pretty solid. 1.33pm GMT The non-farm payrolls figures are out. They show that 214,000 new jobs were created in the US economy last month, less than the 231,000 expected. However, Septembers increase was revised higher to 256,00 from 248,000 and August was also revised up to 203,000 from 180,000 so the overall picture looks better.Importantly, the jobless rate has fallen to 5.8%, the lowest since September 2008 when the financial crisis started. Economists had expected it to stay at 5.9% 12.57pm GMT The Banque de France conference in Paris has a panel discussion this afternoon with IMF director general Christine Lagarde and US Fed president Janet Yellen (3.15pm until 4.45pm GMT). 12.42pm GMT Returning to Mark Carneys comments earlier, my colleague Phillip Inman writes:The Bank of England may need to rescue trillion dollar financial markets in the next crisis following a shift in business lending from banks to the bond markets, Bank of England governor Mark Carney told a conference on Friday.Markets for bonds and derivatives could come under pressure in a repeat of the 2008 crisis and need the support of central bank funds following a structural shift away from bank lending, he warned. 12.38pm GMT Catching up on other news... Julian Rifat, a former trader at Moore Capital, has pleaded guilty to eight instances of insider dealing, the Financial Conduct Authority said today. He is the third person to plead guilty to insider dealing offences arising out of Operation Tabernula, the FCAs largest and most complex insider dealing investigation. He will be sentenced in the New Year. You can read the full statement on the regulators website. 12.15pm GMT The rouble edged higher this afternoon amid mounting talk that Russias central bank could act to halt the recent sharp slide. Analysts are warning of a full-blown currency crisis, with some urging the central bank to intervene.Having been in freefall this morning, tumbling over 3% against both the dollar and the euro, the rouble has clawed back some ground on hopes of an emergency central bank meeting. A source told Reuters that the banks governor Elvira Nabiullina was holding a meeting.This is full-blown panic, with signs of a self-fulfilling currency crisis. At such times, the central bank should intervene, after all if this isnt a risk to financial stability, then what is? 12.05pm GMT Its non-farm payrolls Friday! The numbers, due at 1.30pm GMT, will shed further light on the strength of the US recovery, particularly in the wake of the Feds recent ending of quantitative easing. Daniel Sugarman, market strategist at ETX Capital, says:While no-ones hurrying to stand in front of a mission accomplished banner just yet, the general feeling is that the US economy is strengthening significantly, and markets will be hoping that the Payroll numbers confirm this view. The estimate is for an increase of 231,000; in the past any result significantly above or below the estimated figure has caused significant market jitters. 11.59am GMT European stock markets have turned negative, dragged down by banking shares, while the FTSE is still up. The Dax in Frankfurt has slipped 0.35% while the CAC in Paris is down 0.6%. Spains Ibex has lost 1.2% and Italys FTSE MiB is 1.1% lower. The London stock market is still trading some 37 points higher, at 6588.60, a 0.6% gain. 11.54am GMT Earlier, data showed Frances industrial production output slipped 0.1% in September. German production saw a small rebound from Augusts decline, but economists are still worried that the country is sliding back into recession.What does this mean for the eurozone as a whole? Jonathan Loynes, chief European economist at Capital Economics, says:Eurozone production is still likely to have contracted in Q3, pointing to weak or even negative growth in GDP.Overall, the figures suggest that next weeks German and eurozone GDP figures for Q3 will make for depressing reading and suggest that the ECB should complete its preparations for full-blown quantitative easing as quickly soon as possible. 11.50am GMT The session has finished, and Carney et al. are heading to lunch. Or rather, déjeuner, as the programme states. 11.29am GMT Here are some more detailed quotes from Carney, courtesy of Reuters.Turning to the implicit subsidies effectively too-big-to-fail and the likelihood of government support trust me, when things were under stress, that subsidy was massive. It has come down, it has not been eliminated, but that is because we are still working to end too-big-to-fail.The point of all this is that under-capitalising institutions [and] implicit subsidy conferred a large advantage on bank-based finance, and not just lending but trading book finance by banks. Were working to restore market discipline. 11.24am GMT BlackRock boss Laurence Fink concurred:Its up to all of us to make markets safer and sounder and more robust. 11.13am GMT Carney finished by talking about the Bank of Englands fairer markets investigation. Recommendations will be published by June next year.For markets to be effective, they also have to be fair. 11.07am GMT Carney said in Paris:We are changing the incentives in the banking system.Since the crisis of 2008, virtually all credit growth has been in the capital markets. So banks have been given a series of incentives aside from capital to focus on their more traditional responsibilities [e.g. bank loans]. 10.59am GMT Carney has taken the podium to talk about increased capital requirements for banks and too big to fail banks. 10.57am GMT In Paris, Danièle Nouy, president of the ECBs supervisory council, is talking about shadow banks. Mark Carney is there too but is unlikely to say much (if anything) on when UK interest rates will go up. Next Wednesdays quarterly inflation report will shed more light on the Bank of Englands thinking. 10.54am GMT The pound hit a 14-month low against the dollar after the UK trade data, which showed the deficit widening more than had been expected. Sterling fell as low as $1.5802, its lowest level since September 2013. Against the euro, it lost 0.2%, to 78.34p. 10.37am GMT Meanwhile, back in London we could get a settlement for currency rigging as early as next Wednesday, Reuters reports, citing people familiar with the matter. Six major banks caught up in the investigation into forex rigging are being pressed by the regulator, the Financial Conduct Authority, to accept fines possibly as much as £1.8bn, we reported in September. 10.32am GMT In Paris, the session with Mark Carney and others has got under way. You can watch it here. It is entitled Sadapter aux changements dans lintermédiation financière and is chaired by Bundesbank president Jens Weidmann.Hyun Song Shin, a former economics professor at Princeton, is speaking first, followed by a 30-minute debate between Carney, BlackRock boss Laurence Fink and Danièle Nouy, president of the ECBs supervisory council. 10.25am GMT Before we switch to the central bankers symposium in Paris, some instant reaction to the UK trade data.Alan Clarke, at Scotia Bank, says:This series is like a yo-yo. You get one good month, one bad month, one good month and so on. There has been no change in the trend - net trade has contributed very little to growth of late and there is little sign of that changing any time soon.It is the lack of domestic demand in the eurozone that means we struggle to increase our exports as much as our imports. This is probably because continental European consumers and businesses are demanding less of everything and there is not an awful lot that we can do about that apart from watch and wait for the Eurozone recovery to gain traction, or try to export more to elsewhere on the globe.Looking ahead, exporters are likely to struggle further over coming months given the strong pound and weakness in the euro-zone. But with UK exports still competitively priced in foreign currency terms, we remain optimistic that exporters will benefit from stronger global growth next year and that the economy can still rebalance gradually towards the external sector over the medium term.It is disappointing to see the UKs trade deficit widen in September after some encouraging figures the previous month. While monthly figures can be erratic, the trade deficit also widened in Q3 as exports fell and imports rose. In September, the UK recorded its largest ever deficit in goods trade with Germany, partially offset by improvements in trade with China and Hong Kong. We must drastically change our approach to supporting exporters as we are failing to make adequate progress towards rebalancing the economy. The government must introduce further measures to support UK exporters around the world, including the growing economies of Asia. 10.07am GMT Back to the German data. German exports rose sharply in September, by 5.5%, almost offsetting Augusts 5.8% drop. But economists say this, coupled with a rebound in industrial output, may not be enough to ward off a recession. The German economy, Europes largest, shrank 0.2% in the second quarter and another drop in the third quarter figures are out next week would put the country back into recession. 9.57am GMT European central bankers and economists have gathered in Paris for a symposium at the Banque de France. Central banks should be prepared to buy government bonds if yields surge, or to ward off the threat of deflation, said Christian Noyer, governor of the Banque de France and a member of the ECBs governing council.In extreme circumstances a central bank should mitigate the effects of confidence shocks on sovereign yields by purchasing government bonds.Such an action may be vindicated if there are risks to macroeconomic or financial stability or even if self-fulfilling runs on public debt may be a threat to market access, or lastly to avoid the deflationary consequences of a public debt event. 9.39am GMT Bank of England governor Mark Carney is speaking this morning in Paris. He will be on a panel at the International Symposium of the Banque de France, at 10.15am GMT. Webcast at banque-france.fr/en/home.html 9.38am GMT UK trade figures out just now show that Britains trade in goods deficit widened more than expected in September as exports to the EU were sluggish, and oil imports jumped.The Office for National Statistics said the trade gap ballooned to £9.8bn from £8.95bn in August. Oil imports surged nearly 28%. 9.33am GMT The ECB will suspend crisis loan repayments over the Christmas/New Year period. It said this morning it would not conduct early repayments of its long-term refinancing operations between 24 December and mid-January. The last repayment of 2014 will be settled on 23 December. Repayments will resume on 14 January. Like last year, the ECB decided to suspend repayments of the three-year LTROs during the year-end period, in view of the expected low interest and the concentration of other operations owing to public holidays. 9.22am GMT Over in Germany, industrial production bounced back 1.1% in September, after a 3.1% drop in August. The rebound was mainly driven by manufacturing, up 1.7%, capital goods (up 4.5%) and energy (up 2.4%). Too little, too late? asks Carsten Brzeski, economist at ING. He says this mornings data from Germany show that not all is gloom-and-doom in the eurozones biggest economy. However, the rebound of industrial production was probably not enough to get rid of all recession fears.Over the last weeks and months, the German economy has been a mystery. The slowdown story which was told by partly terrifying data, particularly from industrial activity, has not always matched gut feeling, anecdotal evidence and undebatable solid economic fundamentals. Nevertheless, it would be naïve to simply deny clearly disappointing data. At the current juncture, however, and from an analytical point of view, it is still too early to come up with an all-encompassing explanation for what is happening right now in the German economy. Is the slowdown mainly the result of an abnormal volatility caused by weather effects, vacation days and the timing of school summer holidays? Or is the current slowdown the result of several weaknesses in many trading partners and, even more important, the gradual end of the positive reform-growth cycle the economy has been in for the last decade? In our view, it is a combination of the two. 9.17am GMT The dollar is hovering close to a 4 1/2 year high against a basket of currencies, buoyed by recent strong data for the US economy. The dollar index touched a high of 88.174, its highest level since June 2010. The non-farm payrolls numbers at lunchtime could give the greenback a further lift if they point to a solid recovery in the jobs market. Most economists think some 231,000 new jobs were created in October, compared with Septembers strong reading of 248,000.We are expecting a reading of 240,000 and anything about that, in the region of 250,000 could send the dollar higher. 9.08am GMT Among todays stock market losers, car insurer Admiral, which owns price comparison site Confused.com, stands out. Shares fell as much as 3.7% after the company posted a drop in turnover amid fierce competition. Rival RSA fell 2.7%.Admiral boss Henry Engelhardt said:We anticipate that future earnings will be impacted by the decline in premiums experienced across the market in recent years, coupled with a return to higher claims inflation. 9.01am GMT The FTSE 100 continues to march higher and is now trading 0.7% higher, or 45 points, at 6597.08. Royal Mail is one of the biggest risers, up as much as 3.3%, after a positive broker note. Goldman Sachs decided to resume its coverage of the company with a buy rating.The FTSE hit a peak of 6904.86 in early September, its highest level since the start of 2000. In October, weak European economic data dragged down stock markets, including the London market, which slumped to 15-month lows. But it has clawed back ground since then. 8.46am GMT In other corporate news, the company that controls Londons Canary Wharf, Songbird Estates, has rejected a joint takeover bid worth £2.2bn from the Qatar Investment Authority and a US commercial property firm.National Grid has seen first-half profits climb 16% to £1.1bn. The electrical and gas utility firm has formed a joint venture (called St William) with property developer the Berkeley Group, to build 14,000 homes across London and the south east. National Grid owns a big portfolio of surplus brownfield land which it wants to release for development. The first homes will be ready in 2017. National Grid has over 20 sites in London and the South East with the potential to provide over 14,000 homes over the next 10-15 years. In its first phase, St William aims to develop more than 7,000 new homes, including over 2,000 affordable homes. Development at this scale would also deliver 5,500 jobs, 2 new schools and 22 acres of public open space, transforming 84 acres of former industrial land and contributing over £150m to local infrastructure and amenities. The joint venture will have funds available of up to £700m, making it one of the top ten house-builders in Britain by turnover. This is new capital which will deliver additional homes and help tackle the housing crisis. It aims to commence development activity on its first site in 2016, with the first homes being delivered in 2017. 8.18am GMT All the main European stock markets are up. The FTSE 100 index has opened more than 25 points higher at 6576.68, a 0.4% rise. The Dax in Frankfurt is also 0.4% higher while the CAC in Paris has edged up 0.2%. The FTSE MiB in Milan is flat and Spains Ibex is 0.4% ahead.Upbeat corporate results from major European companies including steel titan ArcelorMittal have lifted markets. The worlds largest steelmaker, which makes 6% of the worlds steel, beat analysts expectations with third-quarter profits. 8.15am GMT Good morning, and welcome to our rolling coverage of the financial markets, the world economy, the eurozone and business.Wall Street and the dollar surged yesterday fuelled by optimism about the US economy, with the Dow Jones and S&P 500 closing at new records. Continue reading...


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Political, Financial Uncertainties Push Greek Stocks Down

ATHENS—Greek stocks faced a renewed bout of volatility Friday as profit-taking pushed the equities market deep into the red, well below key support ...


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Samaras tells Ankara to stop challenging Greek Cyprus natgas efforts

Greece urged NATO partner Turkey on Friday to stop harassing Greek Cyprus while it looks to exploit offshore natural gas fields, wading into a dispute ...


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Tottenham's Labours in Greece Mask Pochettino's Quietly Creditable Record

Harry Kane scored yet again for Spurs in the Europa League but will he start against Stoke City on Sunday? Illustration by Richard Swarbrick. Such is ...


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Train kills 2 immigrants near Greek-Turkish border

THESSALONIKI, Greece (AP) — Greek police say two men, believed to have been Syrian refugees who entered the country illegally, have been hit by a train and killed close to Greece's eastern border with Turkey.


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New Greek bailout unveiled to contain debt crisis

President of European Commission Jose Manuel Barroso (R), President of European Council Herman Van Rompuy (C) and Greek Prime Minister Georgios Papandreou attend the press conference after the ...


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Struggling Greece drops Mitroglou for qualifier

ATHENS, Greece (AP) -- Still looking for his first win as Greece coach, Claudio Ranieri has dropped Kostas Mitroglou for a European Championship home qualifier against the Faeroe Islands ...


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Two Lucky Winners Share 18.4 Million Euros in Greek Joker Jack Pot

Today is the first day of their new life for two lucky Greeks from Pella, Macedonia, and Corinth, Peloponnese, as they predicted with accuracy the numbers of yesterday’s Joker draw and will share a total of 18.4 million euros. According to stats from the Organization of Football Prognostics (OPAP), almost five million Greeks challenged their luck after 15 consecutive jack pots since September 11 and the total amount placed in bets was almost 40 million euros. The lucky numbers that instantly changed the two winners’ lives and made them richer by 9.2 million euros were: 9, 14, 20, 24, 30 and the Joker number drawn was 16. This is the second largest Joker amount ever given out in Greece, after the 19.2 million euro jack pot that three lucky people split in April 2010. In 2006, three winners split 14 million euros, while in January 2009, one person won an 11-million-euro jack pot, the largest sum awarded to a single player. The two players paid 10 and 11 euros and according to the bet shop owners in Pella and Corinth, they did not even pick the lucky numbers on their own, as they used the “random choice.” Until now, the two super winners remain unnamed and probably their identity will remain secret for security reasons. According to ex-Paralympics athlete and owner of the betting store in the village of Galatades in Pella, Anastasios Tsiou, “the entire village can live with the money,” while every one of the 2,500-souls village is waiting for the winner’s appearance. “My blood is frozen,” Tsiou posted on his Facebook wall, minutes after the lucky numbers’ announcement and the revelation that his store was amongst the two that the numbers were chosen from. Konstantinos Babedakis, owner of the second bet store in Corinth, said that if he was the winner of the 9.2 million euros he would have gone crazy. As they both say, though, it is more likely to meet the representatives of the two winners rather than themselves, as it usually happens in such cases.


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Doctors and Nurses Associations: Ebola Is not Treated with Prayers

Irritated with the country’s strategy on facing the Ebola virus appear representatives of the doctors and nurses associations from public hospitals in Greece, because, as they pointed out, there are significant gaps in the protection against an Ebola outbreak in the country. “Ebola is not treated with prayers,” they said. According to the doctors association (EINAP) and the nurses association (POEDIN) the relevant encyclicals published by the Greek Health Ministry remain inactive and essentially on paper. They blamed the Ministry for obtaining an indifferent attitude towards the dangerous virus, revealing that the necessary materials and the relevant personnel training needed for their implementation have not yet been taken. At the same time, they underlined that the two hospitals designated to accommodate patients with epidemic diseases, such as Ebola, “Amalia Fleming” and “Sotiria” (both in Athens) face serious shortages of equipment and personnel. They also complained that the deficient staffing of the National Health System (ESY) does not allow the creation of special groups focusing solely on Ebola, as such a move would take the weakening of other departments. Furthermore, they blamed the Ministry for leaving the employees in many hospitals and health centers around the country untrained and unprepared for managing a possible Ebola outbreak. The problem is even more evident in smaller cities and villages, outside the major urban centers, and villages where, according to the complaint, even the basic personal protection equipment, such as gloves and masks, are in shortage. Concluding, they demanded the Ministry’s immediate response before it is too late and the first case of the virus appears in the country.


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The Frattiest Neighborhoods In America

Greek life has been spreading through colleges around the country since 1776, but that fraternity vibe also extends to the surrounding areas and college towns. The data experts at Yelp put together a series of maps that show the frattiest neighborhoods in 10 American cities. Yelp documented how often its users mentioned the word "frat" in reviews, and then plotted those locations on a heat map. Austin, Texas: Unsurprisingly, most mentions of the word "frat" are clustered around The University of Texas at Austin campus. The university is home to 26 Interfraternity Council chapters and a total of 74 Greek chapters on campus. Fratty college kids frequent nearby like Cactus Cafe and Crown and Anchor Pub. The campus is adjacent to East Austin which is the most hipster section of the city. Boston, Massachusetts: Boston is home to over over 60 colleges and universities, so it's no surprise to see fratty hotspots all over Bean Town. The largest heat spots are centered around Tufts University, Harvard University, Boston University, MIT, and Northeastern. Davis Square is home to Tufts frat life, while Harvard's fratty radius centers around Harvard Square in Cambridge. Downtown Boston and Back Bay have the most densely populated frat spots in the the city. Chicago, Illinois: Chicago's frattiest areas fall around DePaul University, which has 28 Greek chapters, and the University of Illinois at Chicago, which has 33 Greek chapters. The red area also includes Wrigley Field, where you can find a lot of frat-type sports bars like Tom's Tap and The Hideout. Los Angeles, California: Los Angeles's frattiest neighborhoods center around specific college campuses. Downtown shows the most "frat" heat around USC, for example, while the Westwood neighborhood has lots of fratty activity around UCLA. Both USC and UCLA have a strong Greek presence with 128 Greek organizations between the two schools. The fainter spots cover some of LA's more hipster neighborhoods like Los Feliz and Silver Lake. New York City, New York: Nearly all of Manhattan's east side, with some areas in the surrounding boroughs, is covered with fratty heat spots likely due to New York's colleges and job opportunities that draw crowds of students and recent grads. The Lower East Side, Murray Hill, Midtown East, and the Upper East Side are popular fratty spots in particular; the bar and nightlife options, paired with slightly cheaper living costs than on the west side, appeal to recent graduates. Hoboken and Brooklyn also have several fratty neighborhoods thanks to lower rent costs and an easy commute to Manhattan. Philadelphia, Pennsylvania: Philadelphia has 19 colleges and universities. The University of Pennsylvania is the frattiest school in Philly with 53 Greek organizations on campus. UPenn and Drexel are located in the University City neighborhood, which has a sizeable heat spot, but the bigger fratty areas are where the popular college bars are, near Center City and the Liberty Bell. Portland, Oregon: Portland's frattiest area overlaps with the very hip Pearl District. The Pearl District is known for its young residents, affordable rent, art galleries, and pubs. To the southeast of downtown Portland is a hotspot around Reed College, which does not have any fraternities on campus, but does cater to its younger demographic with hangouts like Coffee Cat. However, most of the nightlife happens in downtown Portland and Old Town.  San Francisco, California: Even though San Francisco colleges do not host many fraternities, that doesn't stop areas of the city from adopting a fraternity-like vibe. Many recent graduates move to the Bay Area to work at tech startups, creating pockets of frat-like bars and restaurants. The Marina District is considered the frattiest neighborhood because it draws a young crowd with bars like The Tipsy Pig, Eastside West, Bar None, and Stock in Trade. Seattle, Washington: One of Seattle's frattiest spots is in the University District, home to the University of Washington and its 50 Greek organizations. Fremont is where fratty bars like High Dive and LTD Bar and Grill are located. Downtown Seattle is only 10 minutes from the University and Fremont areas, and has most of the city's main attractions like the Space Needle and Pike Place Market.  Washington, D.C.: Washington, D.C. is home to 18 colleges and universities and is one of the most popular cities for recent graduates. While not all 18 schools have Greek life, downtown D.C. has transformed into a college town that attracts flocks of young professionals every year. Arlington also is home to a lot of young professionals with popular bars like Carpool, Galaxy Hut, and Clarendon Ballroom.  SEE ALSO: These Maps Show Exactly How Much Hipsters Have Taken Over New York City In The Last Five Years GET US IN YOUR NEWSFEED: Like Business Insider on Facebook! Join the conversation about this story »


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Sting in tail of trading week

One day was all it took to wipe out all of the week’s gains on Friday, as banks led the Greek bourse to major losses in the aftermath of a Eurogroup meeting that showed there is significant distance yet between the government and eurozone finance minister... ...


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Greek fest continues at St. Demetrios in Daytona

The 38th Annual Greek Festival is continuing this weekend with Greek ... 9 at St. Demetrios Greek Orthodox Church, 129 N. Halifax Ave., Daytona ...


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Greek squad for Euro 16 qualifier

Greece coach Claudio Ranieri sacks his mis-firing strike force for the Euro 2016 qualifier against the Faroe Islands.


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Greek life celebrates fall's arrival

ASU Greek Life's Fall Fest sprung the fall season to life with a carnival-type experience complete with snacks like turkey legs, caramel apples and ...


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UPDATE 1-Debt provisions keep Greece's Eurobank in the red

The bank, which is 35.4 percent owned by Greece's HFSF bank rescue fund, said credit loss provisions rose to 588 million euros in the three months to ...


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Ranieri drops Mitroglou from Greece soccer squad

Greece coach Claudio Ranieri on Friday overlooked veteran strikers Costas Mitroglou and Giorgos Samaras from his 23-man squad for a Euro 2016 qualifier against the Faroe Islands at home on November 14. Olympiakos forward Mitroglou and Samaras of West Brom... ...


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Greece Urges Turkey to Move on Cyprus Peace Deal

Greek Prime Minister Antonis Samaras on Friday called on Turkey to allow stalled U.N.-led talks to resume by removing tensions in the east ...


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‘Depression Era’ Exhibition in Athens

  An exhibition entitled “Depression Era” has opened at the Benaki Museum in Athens. The theme is the economic crisis and the new reality in Greece. Depression Era is a collective project of more than 30 artists, photographers, writers, researchers, architects, journalists and curators. The collective was formed in 2011, aiming to record the economic crisis through photographs, video installations and literature. The artists’ work capture today’s painful recession and the new reality of Greece through pictures of worn-out faces or torn down and dilapidated buildings. This is not just a documentation of the hardships Greeks are forced to face. As the artists say, this is not Greece in crisis, this is simply today’s Greece. The exhibition also includes photographs from Greece before 2008, capturing times of economic prosperity and the Greek dolce vita. According to the artists, that was another Greece, never to return. They also make the parallel of Greece’s excesses before 2008 to the roaring twenties that were followed by America’s economic crash of 1929 and the Great Depression. High Society / Spiros Staveris   High Society / Spiros Staveris   The artists suggest that the word ‘crisis’ implies a temporary situation, where if the factors causing the crisis are lifted, the situation will revert to normal. Unfortunately for Greece, the situation is not temporary and it will be extremely difficult to return to normal. It will take years, possibly decades. So, in reality, Greece is in the Depression Era. The exhibition will run through January 11, 2015.


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PM Samaras: Greece Will Never Recognize the Illegal Occupation of Cyprus

The Greek side’s stable stance towards the illegal regime in the northern part of Cyprus expressed once again Prime Minister Antonis Samaras who is on the island on a working visit. Speaking at a joint press conference with Cypriot President Nicos Anastasiades, the Greek PM underlined that his country “will never recognize the illegal military occupation of Cyprus,” sending a clear message to Ankara during a period in which the two countries’ relations are tense due to the Turkish violation of Cyprus’ Exclusive Economic Zone (EEZ). According to Samaras, Greece and Cyprus are proceeding with coordinated actions in order to address the Turkish provocations. “This meeting is taking place at a time when there is an escalation of tension, proving the necessity of unity and mutual understanding between Greece and Cyprus,” Samaras said. Furthermore, commenting on the analysis undertaken in a spirit of unity by the political leaders of Cyprus, the Greek PM characterized it as fruitful and encouraging. Declaring that Greece will always be on Cyprus’ side, Samaras said that the island is the bastion of culture and the key to the stability in the region and Europe as a whole. Finally, the Greek PM referred to the EU decision on Cyprus’ right to exploit its hydrocarbons, which is also a message to Ankara. On his behalf, the Cypriot President said that the discovery of hydrocarbons will benefit all of Cyprus, meaning both Greek-Cypriots and Turkish-Cypriots. As he stressed, the issue of energy should function as an incentive to speed up the dialogue towards a final and an acceptable solution over the 40-year Cyprus problem. Concluding, Anastasiades declared that the tripartite cooperation recently agreed between Greece, Egypt and Cyprus is not directed against any of their neighboring countries.


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Greek Students Marched for a Better Education Yesterday

On Thursday afternoon, I went to Athens University to meet up with some students from the First Holargos High School. "We told you we'd be here," ...


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Greek Orthodox Bazaar raises cash for local charities

The Greek Orthodox Ladies of Philoptochos society is hosting its 51st Annual Bazaar Friday and Saturday. The event raises funds for a variety of ...


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Yusuf/Cat Stevens tells AFP Muslims sceptical about comeback tour

London (AFP) - Four decades ago, folk legend Cat Stevens converted to Islam, changed his name to Yusuf Islam and all-but-vanished from the stage. Now he is back, with a world tour hoping to bridge the gap between his two identities.The 66-year-old British singer has had his share of controversy but his return to the spotlight this week in his native London confirmed that his voice at least, soft yet powerful, can drown out all the noise.On tour, he is performing songs from his new album -- the bluesy "Tell 'Em I'm Gone" -- as well as classics from his 1960s and 1970s heyday such as "Wild World", "Moonshadow" and "Peace Train".Despite scepticism from some fellow Muslims about his musical return, Yusuf told AFP in an interview that he sees no contradiction between faith and performance. "I was getting criticism from the Muslim community: why are you picking up a guitar again? What's happening to you?" he said as he began a string of European gigs ahead of his first US tour in more than 35 years."I say: listen to me, this is part of Islamic civilisation, we have lost our contact with it, we lost our vibrant approach to life and to culture."Born in London, now living in Dubai, the singer sums up his dual identity: "I'm a mirror glass for the Muslims as well as the Western world (which) looks at me in a slightly different way, but they are looking in the same mirror."A balancing act pulled off, according to The Independent's reviewer, in a comeback performance described as "beatific waves washing over a crowd ranging from young hijab-wearing women to older fans needing wheelchairs and walking sticks.""If the emanations from any stage could actually influence world peace, the man sometimes still known as Cat Stevens provides them tonight," wrote the paper.  - From no-fly list to 'very welcome' -  Yusuf's return to the United States comes 10 years after he was banned from the country after his name appeared on a no-fly list -- a fact he blamed on mistaken identification."I feel very welcome now," he said, describing his inauguration into the Rock and Roll Hall of Fame in 2014 as a "significant moment where they kind of remembered me"."I think it's gonna be pretty good, I'm hoping," he said.He said he likes performing songs that will be "familiar" to his audience."One song I do is 'The First Cut is the Deepest'. I try to remind people I wrote that song, not Rod Stewart!" he said.When he first converted to Islam in 1977, Yusuf hung up his guitar to dedicate himself to philanthropic and educational work.He attracted controversy in 1989 when he defended the fatwa issued by Iran's Ayatollah Khomeini calling for Muslims to kill British author Salman Rushdie for blasphemy.He later dismissed his remarks as in bad taste, but there are many who still reproach him for not apologising.After his US experience, two British newspapers alleged that he was involved in terrorism. Yusuf successfully sued them for libel, but the whole experience has left its mark."It's always on the knife's edge as far as I am concerned," he said of his relationship with the media. "I can never quite trust anybody anymore."Like most performers, Yusuf continues to pay close attention to his image, which mixes rock and roll with spirituality through a biker's jacket, sunglasses and a white beard."Control" is a word that was often heard on his lips -- during a rehearsal he lambasted a cameraman for filming him from a bad angle -- but he can also be warm and affable.Born Steven Demetre Georgiou, to a Greek father and a Swedish mother, he now prefers to use his two other names side-by-side.His website, his album cover, the signs at his concert venues and the T-shirts sold inside all feature Yusuf and Cat Stevens."People who want to remember me as Cat Stevens -- welcome. Those who want me as Yusuf, you're here," he said.Join the conversation about this story »


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Greece's Eurobank posts Q3 loss as provisions weigh

ATHENS Nov 7 (Reuters) - Eurobank, Greece's third-largest lender by assets, on Friday reported a loss of 187 million euros (232.3 million US dollar) ...


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Greek auditors unblock $1.2 bln state property sale -sources

ATHENS, Nov 7 (Reuters) - Greek auditors have unblocked a$1.2 billion sale of a prime seaside property at the abandonedAthens airport of Hellenikon, court officials said on Friday,freeing up Greece's biggest privatisation deal since its debtcrisis. The auditors in September had blocked the sale of theproperty from privatisation agency HRADF to Lamda Development, which is backed by Chinese and ...


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