How the world sees Greece
The Greek economy may be rebounding, but there are still risks that could derail this recovery, according to three separate studies published on Thursday by the Center of Planning and Economic Research (KEPE), BNP Paribas and the Economist. KEPE said the ... ...
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Dealing with the problem of nonperforming loans constitutes the local credit system’s biggest challenge now that Greek banks have successfully completed the stress tests, confirming their capital health, and the economy has returned to growth. The NPL fig... ...
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The Louis Group will add a third cruise liner to its fleet in Greece next year to cover the increasing demand by cruise passengers. Introducing the corporate brand name Celestyal Cruises, which will gradually become the main activity of the Cypriot group ... ...
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Chinese Prime Minister Li Keqiang, left, delivered a speech in June as Greek Prime minister Antonis Samaras listened during the inauguration of a ...
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The Annual Holiday Bake Sale & Bazaar for Sts. Constantine & Helen Greek Orthodox Church will be from 10 a.m. to 4 p.m., Friday and Saturday, Nov.
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Offering a contemporary twist on the infamous Greek tragedy "Medea," "Medeas" is the directorial debut of Italian-born filmmaker Andrea Pallaoro ...
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the email address you provided does not seem to be valid. Thus, some reflections about the state of play of the country’s economic prospects are warranted. A mixed picture is emerging, moving between positive sentiment indicators and higher car sales ...
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If, by unhappy chance, Greece’s efforts to create a more efficient economy and more just society should fail, if it turns out that all our sacrifices were in vain, who will be to blame? The government, the opposition or the troika? The politicians, state ... ...
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AUSTIN, Texas (Legal Newsline) - A California man is suing Whole Foods over its Greek yogurt brand, alleging it is sold with nutrition labels listing ...
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| READ THE ORIGINAL POST AT legalnewsline.com |
National Bank of Greece S.A. (NBG) of the Financial sector (Money Center Banks) has lost -1.69% per share early this morning. National Bank of ...
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Variety Cruises will offer Aegean Mosaic, a seven night cruise of Greece and Turkey, beginning in August 2015. Departing from either Athens or ...
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During an official visit to Tirana, Albania, Greek Education Minister Andreas Loverdos attended meetings with his Albanian counterpart Lindita Nikolla, Archbishop Anastasios of Tirana, Durres and All Albania, as well as with the President of the Albanian ...
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Remains of an ancient settlement, complete with a ruined pottery workshop, have been found on the bottom of the Aegean sea off the small island of ...
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Almost an hour and 45 minutes lasted the meeting between Greek government Vice President Evangelos Venizelos and Former Prime Minister George Papandreou at the Foreign Ministry, and, according to Venizelos, it concluded in “friendly and positive” climate. Addressing journalists after exiting the meeting, Venizelos revealed that the two men discussed international and internal affairs, as well as the country’s economic situation and the progress of the negotiations with the Troika over the future of the country’s bailout program. Questioned if the situation in PASOK was also tabled, Venizelos gave a positive answer. According to PASOK sources, the meeting, which was the first to take place between Papandreou and Venizelos in months, was of significant importance for the party, as its two key figures have repeatedly disagreed on a number of issues in the past. The socialist party, showing marks of collapse, was for more than three decades the dominant force in Greek politics, along with the current coalition government partner New Democracy. As Venizelos underlined, similar meetings will be held in the future, as the two politicians – once inner-party opponents – will discuss proposals made by Papandreou. At a press question regarding Papandreou’s support, Venizelos highlighted that this is something he asks from everyone, while he avoided to answer a question of whether the Former Prime Minister would seek reelection as an MP in the next elections. Furthermore, he said that the general elections scenario is distant, as the current Parliament will successfully vote for the President of the Hellenic Republic in March, therefore the next elections will be held in 2016, when the government’s term is completed. Venizelos is scheduled to have a similar meeting with Former Prime Minister Costas Simitis on Friday.
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The Greek bourse continued rising on Thursday, albeit at a much slower pace due to investors exercising caution ahead of the results of Athens’s negotiations with its creditors and Fitch’s credit rating report. The Athens Exchange (ATHEX) general index re... ...
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Two Albanian nationals, aged 41 and 43, faced an Athens prosecutor on Thursday on drug-trafficking charges after a police inspection of a tourist coach near the border crossing at Krystallopigi on Tuesday turned up more than 20 kilograms of heroin. The dr... ...
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A 51-year-old ophthalmologist, the head of the ophthalmic clinic at a hospital in northern Greece, faced a prosecutor in northern Greece on Thursday on charges of demanding a 300-euro bribe to plan swift cataract surgery for a patient. A relative of the p... ...
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A 43-year-old man who had appeared in court four times in connection the brutal murder of a medical student in 1997 was cleared by the Supreme Court on Thursday. The student, Evi Gatidou, was stabbed 104 times in her apartment in Larissa, central Greece, ... ...
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With the European Court set to announce the total fine for Greece’s flouting of European waste management laws on December 2, the Environment Ministry’s general secretary Nadia Giannakopoulou said the government had intensified its coordination with local... ...
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A 53-year-old lawyer taken into custody in northern Greece after biting a policeman’s hand has been arrested for allegedly molesting a 13-year-old boy. The lawyer, from Athens, was stopped by a policeman on Tuesday so his car could be searched but he reac... ...
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At a first glance it looks like yet another exhibition on Greece's seven-year dictatorship. Yet more photographs from the Athens Polytechnic, the site of the 1973 student uprising, and posters expressing opposition to the military regime. However, as you ... ...
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The situation in Greek soccer is going from bad to worse, with accusations flying between club officials, the head of the Super League announcing he will quit on Monday and the leagues remaining suspended for this weekend. “There will be no games [this we... ...
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Second-generation immigrants will have a chance for Greek citizenship if they were born in the country and meet END .article-big-block -- ...
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| READ THE ORIGINAL POST AT www.greekherald.com |
Source: www.ryanseacrest.com - Thursday, November 20, 2014 Comedian-actor Russell Brand is known for pushing the boundaries with his outrageous statements and comedic roles in films Get Him to the Greek and Forgetting Sarah Marshall . Despite the 39-year-old’s adult humor and colorful language, Russell is taking aim at younger audience with his children’s book, Russell Brand’s Trickster Tales: The Pied Piper of Hamelin . “Some people were down right cynical. Some people laughed in my face when I said I wanted to write a children’s book,” he told On Air with Ryan Seacrest on Thursday. “I just now had to read that children’s book in a kids’ school here in New York City and they were very nervous cause 90 percent of my focus has to go into not using curse words or saying something crazy. According to the British actor — who voices Dr. Nefario in the Despicable Me films — his flamboyant persona is a common thread he shared with his target demographic, which allowed the book’s content to develop organically. Related Russell Brand Jokes He’d Be Into ‘Swatting’ If He Were Younger “Children, when you think about it, are chaotic and crazy and full of joy and spontaneity, and more than anything, they understand play and mucking around and freedom,” he added. “So in a way, it came quite natural.” Russell Brand’s Trickster Tales: The Pied Piper of Hamelin is the first installment of his children’s novel series. You can purchase the book on Amazon here .All Related
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Greece's proposed budget for 2015 has put it at loggerheads again with the "Troika" of international monitors, who are worried the plan will land it with a bigger fiscal gap than forecast. The coalition government led by Antonis Samaras has promised the ...
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The Greek Police Cyber Crime Unit has brought a case of intellectual property violation to light. Members of the unit conducted an online investigation and presented their data to Athens’ District Attorney, who requested a preliminary examination.
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When one thinks about food options in Howard Beach, Greek cuisine is typically not on the top of that list. But residents of the neighborhood have ...
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ST. LOUIS (AP) -- A woman from Greece is facing federal indictment for an alleged scheme that cost American banks nearly $2 million. The U.S. ...
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ST. LOUIS • A woman from Greece, and others, defrauded banks out of $1.7 million via fake businesses and bank accounts, federal prosecutors said ...
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The Greek soccer association has upheld its decision to suspend games after failing to reach an agreement with clubs on how to protect referees. The post Greek Soccer Suspension Upheld appeared first on The National Herald.
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After being struck in the face by a late Matic challenge midway through the second half, Greece international Kone reacted furiously by preparing ...
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Famous Greek cartoonist Ilias Skoulas passed away on Thursday, November 20, at the age of 87. The artist was born in Alikianos, Chania, Crete, in 1927. At the age of 32 he started working as a satirical cartoonist for Greek newspaper Anexartitos Typos. During his career he worked for some of the most well-known Greek newspapers such as Kathimerini, Ethnos, Eleftheros Typos, Akropolis and many magazines. Skoulas was one the most successful and recognized cartoonists of his era. He published thirteen books and presented his work in four individual and three international cartoon exhibitions. He was a respected public figure who devoted himself to his work. His funeral will be held on Friday, November 21, at Nea Smyrni cemetery in Athens, Greece.
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BELGRADE – A series of Albanian provocations has continued ahead of the recent Greece vs. Serbia football friendly in Chania, when one of the boys ...
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| READ THE ORIGINAL POST AT inserbia.info |
Cyprus has been granted associate membership of World Rugby ©CRF Cyprus were today voted in as an associate member of World Rugby but ...
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| READ THE ORIGINAL POST AT www.insidethegames.biz |
SPQR has won a big judgment in a long-running legal saga that accuses TPG and Apax of bankrupting a Greek telecom.
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| READ THE ORIGINAL POST AT ri.search.yahoo.com |
All the latest business and economic news, as Eurozone growth falters and the ECJ’s main advisor rejects Britain’s pleas over bank bonus rulesECJ advisor recommends rejecting UK pleas over bonus capWhat the experts saySummary: Eurozone growth weakensChinese factory growth stalls 3.57pm GMT A week ago, we were wondering whether Germany was in recession. Last Friday’s growth figures showed it wasn’t (hurrah!) but the relief has now worn off..If anyone was under any illusions post 3Q GDP, today's PMIs underline how weak the #eurozone economy really is. http://t.co/xqVzZxaFT5 3.27pm GMT After an unexpected lift in Germany, a nasty surprise as consumer confidence in euro zone falls http://t.co/Z25GqoK9Qu via @reuters 3.27pm GMT More disappointing news for Eurozone growth hopes -- consumer confidence has fallen to a nine-month low.The European Commission’s monthly survey of consumer morale weakened to -11.6 this month, from -11.1 in October. 3.09pm GMT Here’s some stronger US economic data – the Philadelphia Federal Reserve’s survey of manufacturing in its region has surged to its highest level in over 20 years.The Philly Fed index showed that new orders doubled month-on-month, and the employment measure also jumped.Phily it s huge on everything... including capex pic.twitter.com/sAyAM1a6pJ 2.54pm GMT Confirmation that today’s US PMI report suggests economic growth will ease up as 2014 grinds to a close.Flash Manufacturing #PMI data are consistent with view that US economy will show slower growth in Q4 http://t.co/9o4DvbMG5q 2.54pm GMT Growth in America’s factory sector is also slowing this month, as export growth drops.That’s according to Markit’s monthly PMI survey, just released.pic.twitter.com/L2nEzPjk8ILatest flash #PMI data for US shows export market weakness: largest drop in export orders for nearly one and a half years 2.33pm GMT Over in New York, shares have dipped in early trading after the latest PMI surveys from Europe and China showed growth slowing.Stocks open lower on weak Europe manufacturing data; Dow down 75 points: http://t.co/bLEsDY9kqA pic.twitter.com/C79ybGlkTr 2.06pm GMT This morning’s disappointingly weak eurozone PMI surveys show that the European economy is in rather worse shape than three years ago when the debt crisis began.So reckons bond expert Nick Spiro, of Spiro Sovereign Strategy, anyway. Here’s his take:Europe GDP still hasn't recovered to pre-crisis levels. pic.twitter.com/xjld4BEoDd 1.41pm GMT We also have new US jobs data. And the number of Americans filing new claims for unemployment benefit fell by 2,000 last week, to 291,000.Economists had expected a bigger fall, to 285,000, but on the upside it’s the 10th week running that initial claims has been Continuing jobless claims looking nice pic.twitter.com/8e9s0GTBdu 1.37pm GMT Just in -- US inflation was unchanged last month, with consumer prices unchanged compared with September. 1.32pm GMT Over in Greece, finance minister Gikas Hardouvelis will shortly hold a teleconference with troika representatives.It is a bid to break the impasse in negotiations between the two. Officials are saying the teleconference will take place this afternoon, barely a day after prime minister Antonis Samaras’ government sent the troika an email outlining the measures it plans to take to successfully exit its bailout programme. The proposals will be the focus of the talks, well-briefed sources say. Hardouvelis, an economics professor, believes the gap will be much smaller and is sticking by his guns arguing that prognostications of a larger-than-expected fiscal gap this year also failed to materialize. Auditors representing the EU, IMF and ECB have been examining the proposals with officials saying that today’s teleconference will determine when mission chiefs return to Athens to complete their last review of the Greek economy. Much hangs on that decision. Discussions over a precautionary credit line – seen as the first step to Greece effectively exiting its bailout programme – can only begin once the review is completed successfully. Racheting up the pressure on the government, pensioners took to the streets today, demanding that they be compensated for all the cuts they have had to suffer as the price of international aid to keep the Greek economy afloat. 1.14pm GMT Warwick Business School’s professor of financial economics, John Thanassoulis, has suggested a way to end the clash between the UK and Brussels over bankers’ pay.He reckons the UK should accept the principal of a bonus cap but lobby to have the cap reinterpreted as a bonus pool cap, based on a bank’s appropriately weighted assets.“If the bonus cap becomes a bonus pool cap it has the main effect of stopping banks over-stretching their balance sheet to bid for bankers at ever more inflated levels. This hobbles poaching banks, so taking the steam out of the market for bankers and so lowering pay levels. The well run banks can then hire the bankers they would have done in any case, but more cheaply. This lowers the banks’ cost base and enhances their stability.“This proposal is research based and is founded on peer-reviewed articles published in scholarly journals. 12.35pm GMT INEOS shows slide of shale gas well in Texas. Nick Steinsberger says he drilled 1000s in US "all safely". pic.twitter.com/sJWDcHss9N 12.30pm GMT Chemicals and oil producer Ineos is announcing plans to spend £640m searching for commercially viable shale gas sites in Scotland and Northern England.Ineos says it will “lead” the shale revolution in the UK, and is promising to share the proceeds with local residents. Environmental firms are concerned, though:INEOS says it will "lead the shale gas revolution" in UK. Big ambition but only 2 licences to-date. pic.twitter.com/5H52sk9Gh9 12.14pm GMT The opposition Labour party reckons the government was wrong to take the bank bonus tax row to the European Court of Justice.Cathy Jamieson MP, Labour’s Shadow Financial Secretary to the Treasury, says:“While working people face a cost-of-living crisis and lending to business is falling it’s astonishing that George Osborne’s priority has been to spend taxpayers’ money fighting a cap on bankers’ bonuses.“It shouldn’t have taken the EU to act to rein in excessive bonuses, but there has simply been no action from the Chancellor here in Britain. 12.08pm GMT The Open Europe thinktank reckons that the ECJ advocate general has overlooked some important issues, as he swept aside the UK’s opposition to the bank bonus rules.......including the impact of the caps on financial stability (ie, what happens if bankers are simply paid more?)One of the UK’s main arguments is that this law will result in higher fixed pay which makes remuneration less flexible and raises fixed costs for banks, thereby undermining any attempt to improve financial stability. This issue is not addressed at all in the opinion. Furthermore, while the opinion addresses the issues of remuneration impacting risk and the fact that fixed pay can still vary it does not look at how the two can interact. It is clear that as a result of this fixed pay will increase substantially but there is no question of how this impacts stability. Here's our analysis of ECJ AG opinion on the bankers bonus cap - a few issues are glossed over in the opinion http://t.co/pR9BR67nGc 12.02pm GMT The Treasury has now issued a harder-hitting response over this morning’s bank bonus cap ‘ruling’.They argue that the European Court of Justice’s Advocate General has shown why the cap is a bad idea: The detail of the opinion also demolishes the case for the fixed ratio by pointing out that it doesn’t equate to a cap on bankers pay because there is no limit on basic salaries. This is precisely the reason why we, the PRA [Prudential Regulatory Authority] and the Bank of England have been opposed to this policy.” 11.46am GMT PMI data weak across the board so far this morning - China, France, Germany all miss expectations. Not good! 11.35am GMT The weak eurozone PMIs have hit shares across Europe.The FTSE 100 and German DAX are both down 0.7% , while the French CAC has shed 1.2%.Last night’s US Federal Reserve minutes are providing little impetus, and a weak French purchasing managers report and data from China showing growth in the country’s manufacturing sector had stalled this month are also pushing shares down.So with metal prices weak, Rio Tinto is down 70.5p at 2871.5p, Anglo American has lost 32p to 1290.5p and BHP Billiton has fallen 36.5p to 1588.5p. 11.22am GMT This morning's euro zone flash PMI data in three charts. pic.twitter.com/KQX56YUeTi 10.48am GMT The gloom over the global economy has darkened, with the news that the eurozone’s private sector is suffered its weakest growth in 16 months.The latest deterioration in France’s private sector this month (see 8.20am), and the surprise stagnation at Germany’s factories (see 8.43am) has dragged back growth across the region.Another disappointing PMI survey in the Eurozone. Clear slowing of an already slow "recovery".“The single currency area is struggling to eke out any growth, with the PMI indicating that GDP is likely to have risen by just 0.1-0.2% in the fourth quarter. A drop in new orders for the first time in almost one-and-a-half years, albeit only very marginal, suggests growth could slow further in December.“Policymakers will no doubt be disappointed that recent announcements and stimulus measures are showing no signs of reviving growth. The deteriorating trend in the surveys will add to pressure for the ECB to do more to boost the economy without waiting to gauge the effectiveness of previously-announced initiatives.” 10.37am GMT Lawyer Alexandria Carr of Mayer Brown (who we quoted earlier), also reckons the ECJ’s Advocate General has ignored part of the UK’s case against bonus caps:“The Advocate General argues that the legislation does not impose a “cap” or limit on pay because banks are free to raise basic pay which would permit the amount of the bonus to be increased also, as the legislation fixes the level of bonuses by reference to basic pay.This ignores the UK’s main concern: that the legislation actually breaks the link between compensation and performance by driving banks to increase basic pay which, unlike bonuses, cannot be clawed back in the event of performance issues relating to the bank or individual. 10.24am GMT Back to the European Court of Justice advisor’s ruling against UK over the bankers bonus cap.Tom Gosling, head of PwC’s reward practice, reckons the ECJ will take the same view, in its final decision next year:It seems unlikely now that the Court will overturn the Advocate General’s Opinion, so banks should continue planning on the basis that the bonus cap will still be in force next year. It’s probably cold comfort for many, but at least one of the many sources of regulatory uncertainties for banks’ pay seems to have been removed. “The bonus cap alone is too blunt an instrument to curb risk taking in the banking industry and brings with it many unintended consequences, particularly an increase in fixed pay and a reduction in the level of bonuses available for clawback in the event of future prudential or conduct issues. Bonus levels in the industry needed to, and have been, coming down, but in our view other remuneration reforms are more effective at curbing risk.“EBA and the EU Commission have already said they don’t like “fixed” or “role based” allowances, which some banks introduced, so the debate is likely to now move from arguing about the validity of the cap to arguing about the validity of new practices such as these allowances.”“As expected, it looks like the bonus cap is here to stay and that could lead to further regulation if basic, non-performance related, salaries rise as a result. The Governor of the Bank of England has suggested this week that fixed pay may itself need to be subject to clawback, leaving the whole pay package exposed.”“While this is not necessarily the end of the UK’s challenge, it doesn’t give the UK much hope of success when the Court hands down its decision early next year. Some may even say it’s a clear indication of the likely winner in the power struggle between the EU and the UK.“The Advocate-General’s view may signal the end of the UK’s campaign of organised disobedience against the EU’s rules on pay in banks.” 9.50am GMT UK retail sales rose faster than expected last month, thanks to an increase in demand for furniture and generally lower prices, according to data just released. The ONS reports that retail sales volumes jumped by 0.8% month-on-month, after shrinking 0.4% in September.Disinflation alert! Disinflation alert! UK Average store prices fell by 1.5% in October 2014 compared with October 2013 #GBPSeriously, big number in retail sales is deflator, -1.5% overall, -1.2% ex auto fuel. So volumes strong cos prices down. #goodeflation 9.49am GMT Rachel Farr, employment lawyer at Taylor Wessing LLP, also believes the European Court of Justice will side with Advocate General Jääskinen and uphold bankers bonus caps.http://t.co/iBhINYQZFY AG does not accept UK's bonus cap argument - what are the chances of the ECJ saying different? Not great I'd suggest 9.45am GMT Alexandria Carr, regulatory lawyer at international law firm Mayer Brown, reckons the UK’s attempt to fight EU bonus caps looks doomed, now that the European Court of Justice’s advisor has recommended rejecting Britain’s pleas.She says: “The Opinion of the Advocate General is not unanticipated and is in line with the general direction of travel of EU financial services regulation post financial crisis which has seen increased EU intervention in matters which were previously regarded as matters best left to the discretion of each individual country. Although this Opinion is not binding, and the Court chose not to follow this very Advocate General’s Opinion in respect of the UK’s challenge to the short selling regulation, it would be surprising if the Court chose to depart from the Opinion in this case.” 9.32am GMT The UK Treasury has issued a brief statement:“The government notes the Advocate General of the European Court of Justice’s Opinion on our legal challenge against the EU ‘bonus cap’.We are considering the Opinion and its implications in detail.” 9.28am GMT The government's attempt to appeal against EU bank bonus cap looks like it's unravelling. ECJ Advocate General decides it's "valid". 9.13am GMT ECJ opinion is not final word on UK's challenge to bankers bonus cap - but will likely be rejected next year. 9.01am GMT The Advocate General at the European Court of Justice has concluded that European legislation limiting bankers’ bonuses is valid, in a blow to the UK government.Britain had asked the ECJ to strike down EU rules which limit a bankers’ bonus to 100% of their base salary, or 200% with shareholder approval.ECJ advocate general suggests all UK complaints against caps on bankers bonuses should be rejected. Final ruling next year.The UK also argued that the provisions infringe the principles of proportionality and subsidiarity, that the directive violates the principle of legal certainty, that the conferral of powers to the EBA is illegal, and that the regulation’s measures requiring disclosure of remuneration infringes the right to privacy and data protection rules.In his Opinion today, Advocate General Niilo Jääskinen suggests that all the UK’s pleas should be rejected and that the Court of Justice dismiss the action. ..fixing the ratio of variable remuneration to basic salaries does not equate to a “cap on bankers bonuses”, or fixing the level of pay, because there is no limit imposed on the basic salaries that the bonuses are pegged against.ECJ finds that banker bonuses haven't been capped - you can still increase the salaries they're pegged against! (HT @jamestitcomb) 8.43am GMT Crumbs. Germany private sector growth has fallen to a 16-month low, as its factory sector stalls. Germany #PMI: Private sector activity growth drops to 16-month low as new orders stagnate http://t.co/KxgfgPxbe0 http://t.co/HAZSsrE4wCGerman manufacturing at 50 - any lower then manufacturing industry would fall into contraction“Private sector output growth in Germany slowed to a 16-month low in November. Moreover, it seems Germany’s service sector has started to lose momentum, with activity growth in the sector the weakest since July last year, while manufacturing growth remained sluggish. Companies reported that economic uncertainty and lower demand from both domestic and foreign markets hampered stronger growth in Germany’s private sector.“The combination of weak output growth, ongoing spare capacity and a lack of new order wins (despite a further reduction in charges) paints a worrying picture of the underlying health of the German economy.” 8.38am GMT More economic woe for France as private-sector output falls for the 7th successive month as its November #PMI comes in at 48.4 8.20am GMT France’s private sector has shrunk for the seventh successive month, with factories reporting another sharp fall in output in November.Zut alors.“November’s Flash PMI data point to another weak performance by France’s private sector economy, with output showing a further modest fall. Increased government spending helped support a 0.3% rise in third quarter GDP, but the continued softness in private sector activity signalled by the PMIs suggests an ongoing drag on growth during the fourth quarter from this area of the economy. 8.06am GMT In the UK, Royal Bank of Scotland has been fined a total of £56m over a meltdown in its consumer systems in 2012, that locked 6.5 million customers out of their bank accounts for several days.Tracey McDermott on @BBCBreakfast: "Firms have to change. They recognise that. It's a process they have to carry on" pic.twitter.com/kw64XDhgV2Cough. BOE. CHAPS. Cough. RT @TheFCA: We fine RBS, NatWest and Ulster Bank Ltd £42 million for IT failures http://t.co/QlnUNEWLqx" 8.00am GMT The disappointing Chinese data will hit sentiment in the City, says Mike van Dulken, head of research at Accendo Markets.He writes that the PMI report:...adds to signs that more stimulus is needed to offset slowing growth in the world’s number 2 economy. There is talk of China boosting banks’ lending power to help spur growth, with more flexible loan-to-deposit ratios (short term boost, longer term danger?). 7.51am GMT The drop in the Chinese factory PMI shows “just how choppy China’s economy is at the moment”, says Stan Shamu of IG. 7.48am GMT This chart from Reuters shows how the pace of growth in China’s factory sector has been slowing, pretty much, for the last few years#China #factory growth stalls, at 6-month low #hsbc flash #PMI ReutersChina http://t.co/SujgMyYG6S @ReutersGraphics pic.twitter.com/UJ435Lznzu 7.46am GMT Japanese factory activity grew at a slightly slower rate in November as new order growth dipped, in another sign that demand eased this month.Japan’s manufacturing PMI fell to 52.1 in November from 52.4 in October, signalling a slight slowdown (but still in expansion territory over 50) 7.38am GMT Growth in China’s factory sector has stalled this month, in the latest signal that the global economy is slowing.HSBC’s survey of Chinese firms, released this morning, shows that activity across the sector was flat in November. And output is actually contracting, for the first time in six months.Disinflationary pressures remain strong and the labour market showed further signs of weakening. Weak price pressures and low capacity utilization point to insufficient demand in the economy. Furthermore, we still see uncertainties in the months ahead from the property market and on the export front. We think growth still faces significant downward pressures, and more monetary and fiscal easing measures should be deployed.” 7.37am GMT Good morning, and welcome to our rolling coverage of the world economy, the financial market, the eurozone and business.Coming up this morning... ‘flash’ estimates of how the eurozone’s two largest economies, Germany and France, are performing this month. Continue reading...
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When I heard he planned to open Petros Kafe in a former bakery in El Segundo, it sounded brilliant: a streamlined, simpler, less expensive Greek ...
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Athens — The Cassandra mines in Greece's Halkidiki peninsula sat silent for more than a decade, shuttered by a 2003 court order as an environmental hazard. But one of Europe's richest fields of gold and other key metals has reopened, and the prospect of ...
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The Greek government has installed four new polling systems at Athens International Airport, asking Greek and foreign passengers to vote on the Parthenon Marbles’ return debate. This action is part of a high-profile campaign which includes Amal Alamuddin Clooney who is offering her legal support to Greece in order to win back the sculptures that were stolen and shipped to London by Lord Elgin in 1803. Tourists are asked to assemble a picture of the Parthenon in a few simple moves, restoring the sixth Caryatid in its rightful place. Then they are faced with the question: “Do you support the return of the Parthenon marbles?” to which they can answer “yes” or “no.” “We believe that the airport, as a crossroad of cultures, is the ideal place to reflect Athens’ tourists view on an issue that concerns our international cultural heritage,” said Ioanna Papadopoulou, head of Communications and Marketing at Athens International Airport. “This initiative adds an important link to the systemic actions chain that the airport is undertaking for our city, which has already rebounded as a major tourist destination,” she added. The Parthenon marbles issue has reemerged over the last years, especially after the construction of the new Acropolis museum. Human rights lawyer and George Clooney’s wife, Amal Alamuddin Clooney has offered legal support to Greece, while UNESCO has offered to help in negotiations between the two countries, before the Greek government takes any legal action.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Greek Parliament was expected to vote for the 2015 budget on December 7, it emerged on Thursday. The voting procedure was expected to start at midnight. The budget's final draft was expected to be discussed by the House's finance committee starting on Nov... ...
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
The Greek soccer association has upheld its decision to suspend the country's league matches after failing to reach an agreement with clubs on ...
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| READ THE ORIGINAL POST AT www.miamiherald.com |
The Hellenic Soccer Federation (EPO) convened today and decided that there won’t be any professional soccer games in Greece this weekend. EPO decided not to appoint referees for the league games that start on Saturday. The decision was made in light of the violent assault against referee and vice president of refereeing committee Christoforos Zografos who is still in hospital suffering head injuries. EPO had announced suspension of soccer games right after the incident. There was a possibility that games would resume this weekend since Super League club owners through the board of directors had requested that the games resume on Saturday, November 22, as scheduled. EPO would have to appoint referees by 3 p.m. on Thursday in order for the games schedule to resume, but the soccer officials did not appoint referees for Super League, Football League and Third Division games. On Wednesday, the Super League board issued a statement calling authorities to investigate the assault against Zografos, while calling sports media to avoid reports and editorials that target referees. The board also cancelled a scheduled meeting of club owners. Meanwhile, Super League president Dimitris Agrafiotis resigned from his post claiming that he was repeatedly accused by Panathinaikos owner Yiannis Alafouzos for corruption. Agrafiotis, in turn, said that the owner of Panathinaikos was one of the people who recommended him for president of the league and accused him of ulterior motives. In an official announcement, Hellenic Soccer Federation president Giorgos Sarris said that the decision was made in order to protect the sport and the clubs. He also claimed that the state and club owners have not taken any actions to stop violence in soccer.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
1d ago GREEK ORG OF FOOTBALL PROGNOSTICS: Announcement regarding write-off of the uncl.. 2d ago GREEK ORG OF FOOTBALL PROGNOSTICS: Combine Solicitation - DRYDOCKING & REPAIR: .. 11/12 GREEK ORG OF FOOTBALL PROGNOSTICS: GREECE: Two winners share €18.4m ...
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| READ THE ORIGINAL POST AT www.4-traders.com |
Cosmote has started selling the 3.5-inch Alcatel One Touch C, and the 4.5-inch Alcatel One Touch Fire E in Greece. The first sells for 89 euros and the ...
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Greece and Troika have reportedly found some common ground in their negotiations, especially regarding the 2015 fiscal gap which is currently ...
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| READ THE ORIGINAL POST AT english.capital.gr |
The Greek Minister of Rural Development, George Karasmanis, has ordered a strengthening in the controls of the country's fresh fruit and vegetable ...
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| READ THE ORIGINAL POST AT www.freshplaza.com |
Vasso Antonopoulou from Greece sprinkles her authentic Greek recipes throughout the menu. With no previous restaurant training, she cooks as if she ...
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| READ THE ORIGINAL POST AT www.pennlive.com |
When Nicos Anastasiades won a landslide victory in the country's February 2013 presidential election, Cyprus was facing its worst financial crisis in decades. Its banks were near collapse. During his first month in office, Anastasiades struck a deal with the European Union, the International Monetary Fund and the European Central Bank to keep the Republic of Cyprus in the Eurozone and save the nation from bankruptcy. In October, Cyprus' government boasted that while the 10-billion-euros bailout had been controversial, the economic reforms the country has adopted since March 2013 are yielding results. Reuters reported earlier this month that quarterly data show the country's recession is losing steam. This week, Anastasiades sat down for an exclusive interview with HuffPost Greece's Editorial Director Sophia Papaioannou and Editor-in-Chief Nikos Agouros ahead of the launch of HuffPost Greece, which debuted Thursday. The president told HuffPost that while he was disappointed with the way Europe handled the financial crisis, Cyprus' economy is now on the path to recovery. Mr. President, what is the current financial situation in Cyprus? I think it is obvious that Cyprus is on the path to recovery. Within 15 months, we managed to re-enter the international capital markets, something extremely significant for an economy on a verge of collapse and disorderly bankruptcy. How are you planning on tackling unemployment? Exclusively through new investments and the creation of new jobs. I believe that in 2015 we will turn things around and enter an era of hope to recover, exactly as we did after the disaster of 1974. When do you think Cyprus will exit the memorandum? Sooner than originally thought. I hope that instead of the year 2017, it will probably happen in the beginning of 2016, but we are not in a position to know the exact date. Do you think it was an effective solution? While it had a detrimental effect for the citizens, it was an effective solution. Were you disappointed by the way Europe handled the economy of Cyprus? To be honest, I was disappointed by the position adopted by my good friends in this time of need, but unfortunately you cannot only blame those who are obliged to implement austere measures. The state itself is also responsible for committing a series of mistakes or for allowing others to use the country as a guinea pig. In the interview, Anastasiades also addressed escalating tensions with Turkey. Last month, Cyprus accused Turkey of sending a scientific vessel accompanied by warships into Cyprus' exclusive economic zone (EEZ) to hunt for oil and natural gas. Cyprus had earlier suspended island reunification talks with Turkish-Cypriot leaders because of Turkey's aggressive search for oil and gas. We recently saw that the Turkish seismic vessel Barbaros entered Cyprus' EEZ. What frightened you the most about this particular action? It is unacceptable to send frigates either to patrol or cross our waters, because it is considered a violation of our sovereign rights. It was fairly provoking to conduct research in our waters, and the Republic of Cyprus is pressured to accept an action considered illegal under international law. And how do you intend to deal with this situation? I have already made a decision. We cannot participate in any discussions under the threat of gunboats and continuous violations of our sovereignty. If I were to participate in any negotiations, it would only mean that I accept a new fait accompli. Are you afraid of a military incident? We hope that Turkey isn’t planning on provoking a military incident, and actually I don’t think a military engagement would even be possible for us. We are a small country and do not have any warships nor military aircraft in order to engage. Watch the full interview with Anastasiades, subtitled in English, in the video above.
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| READ THE ORIGINAL POST AT www.huffingtonpost.com |
AMONG the rising number of impoverished European governments that offer residence permits to rich non-Europeans, Portugal has been perhaps the most successful. In return for investments totalling over €1 billion ($1.25 billion), the Portuguese authorities have issued 1,775 “golden visas” in the past two years, four-fifths of them to Chinese investors.But success turned to scandal on November 13th, when the police detained 11 people, including the head of Portugal’s border agency. The police are understood to suspect that some properties supposedly bought to obtain a golden visa may have gone for far less than the €500,000 minimum the scheme requires; some of the difference may have been used to finance dodgy pay-offs. On November 16th the interior minister, Miguel Macedo, resigned.The investigation in Portugal could have wider ramifications across Europe, where countries from Greece and Spain to Latvia and Hungary run similar schemes. As in these countries, Portugal was trying to make up for a sharp drop in investment during its economic crisis. Under the scheme, a minimum amount spent buying a property entitles non-European families to live in the country for five years, after which they can apply for permanent residence. Paulo Portas, deputy prime minister and main advocate of the Portuguese scheme, credits it with reviving a moribund property market. Mr Portas is being...
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| READ THE ORIGINAL POST AT www.economist.com |
“THE world cannot afford a European lost decade,” says Jacob Lew, America’s treasury secretary. The latest European figures were uninspiring. In the third quarter the euro zone grew by just 0.6% at an annualised rate. This sluggishness was not primarily due to the countries hit hardest by the crisis—Greece’s economy grew faster than any other euro-zone country, and Spain and Ireland are recovering. Rather, it is the core countries that are exhausted—and few more so than the biggest, Germany. It grew by just 0.1% in the third quarter, after contracting by the same amount in the previous three months.Angela Merkel, the German chancellor, has been subject to a rising chorus of foreign criticism. Germany should do more to stimulate domestic consumption and investment, goes the refrain. This would help countries like France and Italy as they undergo tough structural reforms. Higher imports would also reduce Germany’s current-account surplus, the largest in the world and a cause of imbalances within Europe and beyond. Stimulating demand would push up prices, which could save the euro zone from tipping into deflation. Prices in the zone rose at an annualised 0.4% in...
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| READ THE ORIGINAL POST AT www.economist.com |