Speculation has grown in Germany that politicians are considering a Greek exit from the eurozone. The one thing that they agree on is that if Greece is to stay, it must comply with the terms of its bailout.
 |
| READ THE ORIGINAL POST AT www.dw.de |
How the world sees Greece
Sunday, January 4, 2015
Fugitive radical planned attack on Greek prison: police
A fugitive ex-member of a notorious Greek radical leftist group was planning an armed attack on Greece's main prison when he was captured this weekend, police said Sunday. Christodoulos Xiros, formerly of the defunct November 17 movement, was targeting the ...
|
| READ THE ORIGINAL POST AT uk.news.yahoo.com |
Berlin Confident Greece Will Stick to Reforms
BERLIN - The German government expects Greece to stick to the terms of its EU/IMF bailout agreement after a Jan. 25 election and a possible change of government in Athens, a spokesman for Chancellor Angela Merkel said on Sunday. However, spokesman Georg ...
|
| READ THE ORIGINAL POST AT www.bignewsnetwork.com |
Xiros planned attack on prison
ATHENS — Greek authorities say fugitive terrorist Christodoulos Xiros, who was arrested Saturday near Athens, was planning a major operation against an Athens prison in order to free other convicted terrorists. Greek police chief Dimitrios Tsaknakis told reporters that a search in the safe house Xiros used turned up extensive notes on approaching, and […] The post Xiros planned attack on prison appeared first on The National Herald.
|
| READ THE ORIGINAL POST AT www.thenationalherald.com |
Rinne and Rehn differ on Greek debt relief
Rinne and Rehn differ on Greek debt relief. As Germany prepares for Greece's potential departure from the eurozone, Olli Rehn, Vice President of the ...
|
| READ THE ORIGINAL POST AT yle.fi |
Iran plans to honor scholars promoting cultural ties with Greece
TEHRAN -- The Iranian cultural attaché in Athens, Mohammad-Hossein Mozaffari, said that Iran plans to honor Iranian and Greek scholars promoting ...
|
| READ THE ORIGINAL POST AT www.tehrantimes.com |
Global factory activity declines; Fed prepares for rate rises; Greece prepares for vote; oil, gold and ...
It seems likely that an anti-euro party will win there leading to Greece leaving the eurozone. Germany seems less worried about the possibility, ...
|
| READ THE ORIGINAL POST AT www.interest.co.nz |
Greek police say recaptured terrorist Xiros planned assault on prison
Greek police have said that a convicted terrorist prisoner who had gone missing for almost a year had been planning a major assault on a prison. His aim, they believe, was to free fellow convicted terrorists.
|
| READ THE ORIGINAL POST AT www.dw.de |
Ancient Amulet Discovered With Curious Palindrome Inscription
The amulet contains a Greek inscription, 59 letters long, which reads the same backwards as it does forwards, a feature known as a palindrome.
|
| READ THE ORIGINAL POST AT www.livescience.com |
Germany's Gabriel says Berlin wants Greece to stay in euro zone
BERLIN (Reuters) - The German government wants Greece to stay in the euro zone and there are no contingency plans to the contrary, Vice Chancellor Sigmar Gabriel said on Sunday, responding to a media report that Berlin believes the currency union could cope without Greece.
|
| READ THE ORIGINAL POST AT feeds.reuters.com |
Soccer-Greek championship results and standings
Jan 4 (Infostrada Sports) - Results and standings from the Greek championship matches on Sunday Sunday, January 4 Atromitos Athinon 0 Kalloni 0 Levadiakos 1 Ergotelis 1 Olympiakos Piraeus 2 Platanias 1 PAS Giannina 0 Panathinaikos 0 aband. ...
|
| READ THE ORIGINAL POST AT news.yahoo.com |
Captured Greek guerrilla was preparing to attack prison: police
Xiros is already serving multiple life terms for his role in Greece's most lethal guerrilla group, which killed Greek, U.S. and British diplomats before ...
|
| READ THE ORIGINAL POST AT news.yahoo.com |
Alexis Tsipras or Antonis Samaras? Greece begins to weigh up the options
The stark differences between Antonis Samaras, Greece's prime minister, and Alexis Tsipras, the man who wants his job, will to great degree define ...
|
| READ THE ORIGINAL POST AT www.theguardian.com |
New Opinion Poll Shows Greek Citizens Want SYRIZA, Samaras and Euro
A steady lead of 3.1% ahead of ruling New Democracy holds the Greek main opposition party, SYRIZA, according to a latest poll on behalf of Greek ...
|
| READ THE ORIGINAL POST AT greece.greekreporter.com |
Attempt to Enter Greek Military Base by Two Men Prevented
Two unidentified individuals attempted to enter a Greek military base near Athens by cutting the camp’s fence a few minutes after midnight. According to Greek National Defense Ministry sources, the attempt took place at around 00:20 after midnight. The two strangers who tried to illegally enter the camp in Malakasa, Greece, by cutting the fence, were immediately spotted by the guards. In the camp, which, among other things, anti-tank missiles are being stored, the attempt of the two triggered an alarm that resulted to their retreat, while Greek Police was immediately informed regarding the matter. It should be noted that at the specific military camp, apart from its heavy armory, explosive projectiles and other types of arms that have been found and confiscated by Greek Police are also being kept. Meanwhile, after an order issued personally by the Greek National Defense Minister, Nikos Dendias, increased security measures will be taken in military bases that house heavy armory and anti-tank weapons in particular. The order comes only a few weeks after information arrived to the Greek National Defense headquarters that referred to a possible theft attempt of anti-tank weapons from another military camp in Corinth, Peloponnese. In that case, as part of the increased security measures, a platoon of special forces had been placed in order to strengthen the camp’s guarding.
|
| READ THE ORIGINAL POST AT greece.greekreporter.com |
European Union: Polls to ‘determine whether Greece stays in Europe’ – PM
Athens, Greece— Greece started counting down Tuesday to a snap election next month as the prime minister warned that the ballot will determine whether the crisis-hit country remains part of the Eurozone.“This struggle will determine whether Greece stays in Europe,’’ Antonis Samaras said, as he asked the outgoing president to dissolve parliament ahead of an election set for January 25.The looming ...
|
| READ THE ORIGINAL POST AT ph.news.yahoo.com |
Access to All Areas of ‘Norman Atlantic’ Impossible, Third Greek Citizen Confirmed Dead
Fire rings that have not been extinguished are still burning on board of the fire-stricken ferry boat “Norman Atlantic” and specifically in its garage. This prevented the Italian experts and prosecutors from getting on board and enter its burned areas ...
|
| READ THE ORIGINAL POST AT greece.greekreporter.com |
Germany: Greek euro exit is now possible, report says
Germany is prepared to accept a Greek exit from the euro, the magazine Der Spiegel reported on Saturday. "The German government considers a Eurozone exit by Greece to be almost inevitable if opposition leader Alexis Tsipras leads the government after the ...
|
| READ THE ORIGINAL POST AT www.aa.com.tr |
Greek police capture fugitive from Nov. 17 terrorist organization
This photo undated provided on Jan. 3, 2015, by the Greek police shows convicted terrorist Christodoulos Xiros after his arrest in a town just outside ...
|
| READ THE ORIGINAL POST AT www.todayszaman.com |
SYRIZA Leader: ‘There Will be a Negotiation, There Will be an Agreement’
Greek main opposition SYRIZA leader Alexis Tsipras presented two messages during his speech at the party’s conference late on Saturday – one towards Greece’s lenders and one towards Greeks. Welcoming him to the podium, Nikos Voutsis, SYRIZA MP and secretary of the party’s parliamentary committee, said Tsipras will be the first Prime Minister from the Left. Tsipras described the framework of negotiations between the country and its international lenders and clarified that the party’s program is non-negotiable. “There will be a negotiation (with the country’s international lenders). There will be an agreement. And the Memorandum, along with the Troika, will become part of the past!” Tsipras said. He added that the party’s opponents are accusing him of planning a rift with the country’s Eurozone partners. “But what we want and what we’re planning is a break with barbarity. A break with the irrational and what is wrong,” he said. Tsipras reiterated his position that Greece’s debt is not sustainable and that the policy followed today is not sustainable either. He explained he will claim the write-down of the largest chunk of the country’s debt through an honest and determined negotiation, so Greece can finally enter a path of growth. (source: ana-mpa)
|
| READ THE ORIGINAL POST AT greece.greekreporter.com |
Arrested Terrorist Planned Attack on Athens Prison
Greek police: arrested fugitive terrorist Xiros planned attack on Athens prison
|
| READ THE ORIGINAL POST AT abcnews.go.com |
Merkel under fire over possible 'Grexit' approval
Berlin (AFP) - German Chancellor Angela Merkel came under fire Sunday over a magazine report suggesting she would be prepared to let Greece exit the euro should a far-left party win a snap Greek election.Der Spiegel news weekly quoted government sources as saying Berlin sees a Greek exit from the eurozone as "almost inevitable" should the radical leftist Syriza party win the vote and abandon Athens' current austerity course. Both Merkel and her finance minister Wolfgang Schaeuble had come to consider that Greece's departure from the single-currency bloc would be "manageable", the magazine said. The recovery underway in other formerly problem economies such as Ireland and Portugal, the establishment of a permanent eurozone bailout fund and the creation of a banking union had all bolstered Berlin's belief that the contagion from a fresh Greek crisis would be limited, it added.Greece's parliament was dissolved Wednesday after the assembly failed to agree on a successor to outgoing President Karolos Papoulias in three successive votes. A snap election has now been called for January 25. Syriza is currently ahead in opinion polls.German media saw the Spiegel article as an attempt by Merkel and Schaeuble to put pressure on Greeks and Syriza leader Alexis Tsipras, who has vowed to end austerity policies.Neither Merkel's office nor Schaeuble's finance ministry would confirm or deny the Spiegel report, which drew condemnation from members of both Merkel's conservative CDU party and the Social Democrats (SPD), the junior partners in her coalition government.A government spokesman insisted that Berlin was confident Athens would meet its commitments to its creditors under an EU bailout programme."Greece has fulfilled its obligations in the past. The government assumes that Greece will continue to meet its contractual commitments," spokesman Georg Streiter told AFP.But a leading member of the CDU, Christian Baeumler, slammed what he saw as the lackadaisical way in which a possible Grexit was being conjectured. "If anyone believes a Greek exit is manageable, they should show exactly what costs can expected and make the necessary funds available," Baeumler told the business daily Handelsblatt in its online edition. - 'Extremely risky' - Should Greece quit the euro, it would not reimburse its debts and "Germany will have to shoulder a signicant portion of the burden," he said. The conservative daily Die Welt accused the government of interfering in the Greek election campaign and warned such a tactic was "extremely risky" and could easily backfire.It might fuel Greeks' discontentment with Germany and thereby boost support for Tsipras and his party, the newspaper suggested.That would contribute to instability in Greece and might even spark a bank run, where bank customers scramble to withdraw their deposits, it argued.Bernd Riexinger, head of the opposition leftist Die Linke party, accused Merkel of trying to destabilise Greece ahead of the elections. In theory, there is no mechanism allowing eurozone countries to withdraw from the single currency. But there is speculation in Berlin that Greece might abandon its bailout commitments, forcing the European Central Bank to cut off refinancing for Greek banks and compelling Athens to reintroduce the drachma. The SPD laid the blame for the report at the CDU's door. "A change in the government's line? More a serious mistake on the part of the CDU," tweeted the deputy head of the SPD's parliamentary faction. On Saturday, the SPD's secretary of state for European affairs, Michael Roth, had already warned about the consequences of a Greek exit. "Greece is a member of the eurozone. And must remain so. Nothing must be invoked which would prove to be economically and politically unwise," he wrote on his Twitter account. Join the conversation about this story »
|
| READ THE ORIGINAL POST AT www.businessinsider.com |
Greek hitman arrested on bike
A GREEK fugitive who absconded while serving a life sentence for acting as a hitman for an extreme-left group was caught at the weekend as he rode ...
|
| READ THE ORIGINAL POST AT www.theaustralian.com.au |
Germany ready to accept Greek exit
Athens/Berlin - Berlin is prepared to accept a Greek exit from the European common currency if the country's next government does not continue to ...
|
| READ THE ORIGINAL POST AT www.iol.co.za |
Greek hitman arrested on bike
A GREEK fugitive who absconded while serving a life sentence for acting as a hitman for an extreme-left group was caught at the weekend as he rode ...
|
| READ THE ORIGINAL POST AT www.theaustralian.com.au |
Greece must stand by bailout conditions, Germany warns
The German government is confident that Greece will stick to bailout terms set out by the EU and the IMF, a spokesman for Chancellor Angela Merkel ...
|
| READ THE ORIGINAL POST AT www.telegraph.co.uk |
Berlin insists it expects Greece to remain in eurozone
Germany has insisted that it expects Greece to stay in the eurozone, despite a news report claiming Berlin was ready to see Athens quit the common ...
|
| READ THE ORIGINAL POST AT www.ft.com |
Merkel spokesman denies Germany has changed its view on Greece leaving the euro
A spokesman for Chancellor Angela Merkel says Germany hasn't shifted its view on Greece leaving the euro.
|
| READ THE ORIGINAL POST AT feeds.foxnews.com |
German government denies changing tack on Greece
A spokesman for Chancellor Angela Merkel says Germany hasn't shifted its view on Greece leaving the euro. In a report Saturday, German weekly Der Spiegel had cited unnamed government officials indicating ...
|
| READ THE ORIGINAL POST AT news.yahoo.com |
Kallithea: Getting away from it All
Imagine leaving the big city (whether it be New York, Athens, or elsewhere) and traveling to a Greek island to “get away from it all,” only to find yourself in another “big city” of sorts. Such is the case on the island of Rhodes. If you happen to stay at a hotel in the center […] The post Kallithea: Getting away from it All appeared first on The National Herald.
|
| READ THE ORIGINAL POST AT www.thenationalherald.com |
Greek PM: SYRIZA Is Leading the Country to Bankruptcy and a Credit Crisis
Greek Prime Minister Antonis Samaras blasted main opposition SYRIZA for leading the country to bankruptcy, to a credit crunch and eventually out of Europe, during a speech in the city of Larissa, central Greece, on Saturday night. The Greek Premier expressed his optimism for the upcoming general elections, saying the opposition’s lead in polls has narrowed. “From Larissa, we start a path of victory. Greece will win. SYRIZA’s wind of victory is waning, the climate is changing. The Greek people voted us two and a half years ago to pull Greece out of the crisis. Two and a half years ago, few people believed it. In two and a half years, Greece made the biggest ‘tidying up,’ it has no deficits, it was ready to exit the crisis, but they didn’t let us. A minority of MPs dragged the country to elections that people didn’t want,” Samaras said. He noted that SYRIZA is afraid the country is finishing with the bailouts and that every year will be better than the previous one. “It was wrong to lead us to elections at a time when the country is recovering. This is why people will punish them for ignoring their wish,” he added. Samaras also said the markets’ reaction to the general elections shows how dangerous what SYRIZA did is, as it is leading the country to bankruptcy. “The international press and international bodies tell them every day. Everyone is shouting that what they’re saying cannot happen and will lead the country to huge problems.” Speaking to the people of Larissa, the Premier explained that what he is saying is not fear mongering, as SYRIZA claims. “The institutional decisions taken in their conventions include not paying interest rate and not meeting debt payments, but these decisions lead to bankruptcy. Even worse, they are also saying they will resort to forced lending. We are telling the truth,” Samaras said. He noted that EU funds earmarked for the next seven years, totaling 43.5 billion euros and directed at farmers and the periphery, will be jeopardized by SYRIZA. “The first one to lose will be the farmers and the agricultural periphery. We will also risk losing 15 billion euros after March. We will lose it because we have been warned that whoever does not abide by the EU conditions, will not get any money. They will lead the country to a credit crunch. This is the truth and I have an obligation to say it,” he added. (source: ana-mpa)
|
| READ THE ORIGINAL POST AT greece.greekreporter.com |
Breaking News: Huge blast heard in Somali capital Mogadishu, followed by gunshots: Reuters ...
The 'troika' overseeing Greece's 240 billion euro bailout comprises the ... As the euro zone's paymaster, Germany insists that Greece must stick to a ...
|
| READ THE ORIGINAL POST AT www.reuters.com |
Germany voices confidence Greece will stand by EU commitments
BERLIN: Germany is confident that Greece will stand by its commitments to the EU bailout programme, a government spokesman said on Sunday.
|
| READ THE ORIGINAL POST AT economictimes.indiatimes.com |
Germany expects Greece to continue to meet obligations
Germany has said that it expect Greece to continue to comply with the terms of its international financial bailout. The statement comes in response to a report that Germany was now prepared to accept a "Grexit."
|
| READ THE ORIGINAL POST AT www.dw.de |
Christodoulos Xeros’ Weaponry and Attack Plans in Greek Police Microscope
Before the attorney will appear today noon or afternoon the former member of “November 17″ terrorist group Christodoulos Xeros, who was arrested yesterday by Greek authorities in Anavyssos, Greece. Xeros had escaped custody almost a year ago, after he violated his leave from Korydallos prison. At the moment, the interest of the counter-terrorism unit of the Greek Police is focused on two aspects: First, the findings of the house he rented and second, the persons who might have assisted the fugitive. The findings of the rented house in Anavyssos lead the police to the conclusion that Xeros was preparing a new major hit. This time, police officials say, it seems that he would go into a new type of attack, unlike the previous ones that included parcel bombs, such as the one found on April 29, 2014, by policemen in Itea, and which included a significant amount of explosives. Xeros was allegedly preparing a big hit with the use of a trapped vehicle or rocket-propelled grenades, possibly combined with Kalashnikovs. During the search in Xeros’ hideout, police found one anti-tank gun, three anti-tank rockets, eight Kalashnikovs, one of which had a special sight sniper laser, a container with a quantity of explosives, three pistols and detonators. In addition, sacks containing sand were found in his yard, which according to police would be used around the trapped vehicle and push the blast from the explosion to the specific target. This specific technique was also followed by “November 17.” Furthermore, among the findings, according to reports, are detailed maps of Athens and Epirus, and attack plans that would be used against a political or economic objective. Also, according to initial estimates, 100 kilos of explosive material were found inside a metal oil barrel. Finally, the counter-terrorism unit investigation has turned to at least three people who have allegedly assisted Xeros with his escape on January 6, 2014, offering him accommodation outside Athens and in particular in Aegio, Loutraki and Epirus. Xeros had been under surveillance by authorities for several days and was arrested while trying to get into a hideout located in the area, which he had rented under a false name two months ago. When he was arrested, he was wearing a blonde wig and had grown a beard, while he was armed with a gun. According to Xeros’ lawyer, the terrorist knew he was being watched and was about to disappear again. He also said Xeros didn’t want to be arrested at night because he didn’t want to exchange fire with policemen and didn’t plan to use the weapon he was carrying when captured. He also noted that Xeros does not accept responsibility for any of the crimes he is being connected to while he was on the run and that he will not cooperate with the investigator because his aim was to avoid arrest. “All this time, he lived under the stranglehold of the police, as he had already realized himself. This did not give him the opportunity to cooperate with anyone or any opportunity for anything,” his lawyer said, adding that the heavy weaponry found in the house was acquired by Xeros and that he takes full responsibility for it. He had previously been charged for 33 acts committed as a member of “November 17.” He was given six life sentences and 25 years in prison for his involvement in six murders, various explosions, robberies and his involvement with the terrorist organization. A new press conference on the case is expected to be held in the following hours, during which the possible targets of Xeros will be named.
|
| READ THE ORIGINAL POST AT greece.greekreporter.com |
Germany expects potential new Greek government to abide by bailout terms
Merkel spokesman comments on reports that chancellor believes eurozone would survive Grexit amid Syriza’s lead in pre-election polls The German government expects Greece to stick to the terms of its EU/IMF bailout agreement in the event of a change of government in Athens after the 25 January election, a spokesman for Angela Merkel has said.However, spokesman Georg Streiter declined to comment on a report in Der Spiegel magazine that said Merkel’s chancellery had shifted its view and now believed the eurozone would be able to cope with a Greek exit if necessary. Continue reading...
|
| READ THE ORIGINAL POST AT www.theguardian.com |
Greece must 'abide' by bailout terms
Germany expects Greece to uphold the terms of its international bailout agreement, a spokesman for Chancellor Angela Merkel says.
|
| READ THE ORIGINAL POST AT www.bbc.co.uk |
Epiphany 2015: Dates, Customs, Scripture And History Of 'Three Kings Day' Explained (PHOTOS)
The Feast of the Epiphany, marking the end of the 12 Days of Christmas and the new season of Epiphany, is observed on Monday, January 6, 2015. Epiphany -- which is variously known as Theophany, Three Kings Day and El Dia de los Tres Reyes -- is a Christian celebration of the revelation of the birth of Jesus to the wider world. This is embodied most in the story of three wise men visiting a newborn Jesus with gifts, found in the Gospel of Matthew 2:1-12. In this story, Magi (wise men) from the east follow a star to Jerusalem, where they ask the presiding king, Herod, what he knows about a newly born "King of the Jews." This sounds like a challenge to Herod, who gathers his priests to learn where and who is this king. They relay a prophecy that Messiah will be born in Bethlehem, and Herod sends the Magi there, saying: "Go and search carefully for the child. As soon as you find him, report to me, so that I too may go and worship him." The wise men -- Gaspar, Melchior and Balthasar -- eventually find Mary and her son, Jesus, to whom they bow and worship. The Magi give Jesus gifts of gold, frankincense and myrrh, and then return home, for a dream told them to bypass Herod. While Roman Catholic and Protestant Christianity focuses on the story of the Magi, Eastern Christians, like the Greek Orthodox, celebrate the baptism of Jesus on Epiphany and consider the day to be more important than Christmas. Traditionally, Epiphany is observed by blessing the home (recalling the Magi's visit to Jesus' family), blessing water (especially the Jordan River, where Jesus was baptized), exchanging gifts, performing "Magi plays" (to tell the story of Jesus' childhood) and feasting, most notably on a "King Cake." Read or listen to T.S. Eliot's poem Journey of the Magi here.
|
| READ THE ORIGINAL POST AT www.huffingtonpost.com |
The Euro Crisis Is Entering A New, Highly Dangerous Phase
EVER since the euro crisis erupted in late 2009 Greece has been at or near its heart. It was the first country to receive a bail-out, in May 2010. It was the subject of repeated debate over a possible departure from the single currency (the so-called Grexit) in 2011 and again in 2012. It is the only country in the euro zone whose official debt has been restructured. On December 29th the Greek parliament failed to elect a president, forcing an early snap election to be called for January 25th. The euro crisis is entering a new, highly dangerous phase, and once again Greece finds itself at the centre. Investors promptly swooned, with the Athens stockmarket falling by almost 5% in a single day, bank shares down by even more and Greek ten-year bond yields rising to a new 2014 high of 9.5% (over seven points above those for Italy). The reason for this collective outbreak of nerves is that the polls point to an election win for Syriza, a far-left populist party led by Alexis Tsipras. Although Mr Tsipras says he wants to keep Greece in the euro, he also wants to dump most of the conditions attached to its bail-outs: he would end austerity, reverse cuts in the minimum wage and in public spending, scrap asset sales and seek to repudiate much of the country's debt. Such a programme seems, to put it mildly, to sit uncomfortably with Greece's continuing membership of the single currency. The early election is likely therefore to create a political crisis in Greece. What happens beyond that is less clear. Investors seem to be betting that the people of Italy, Spain and France will peek at the chaos in Athens, shudder--and stick to the austerity that Germany's Angela Merkel has prescribed for them. But that seems too sanguine to this newspaper. It is hard to believe that a Greek crisis will not unleash fresh ructions elsewhere in the euro zone--not least because some of Mrs Merkel's medicine is patently doing more harm than good. The Greek kalends Begin with Greece. For 14 months Syriza has been ahead of the ruling New Democracy party of the outgoing prime minister, Antonis Samaras, in the polls. Although the economy is now growing again, Greek voters remain understandably enraged that GDP should have shrunk by almost 20% since 2010 and that unemployment is still as high as 26%. As it happens, Syriza's poll lead has narrowed in recent weeks, but even if it does not win an outright parliamentary majority, it is likely to be by some margin the biggest party, so Mr Tsipras can expect to lead any coalition government that is formed after the election (see "Greece's political crisis: Samaras's failed gamble"). And this time round Mrs Merkel will struggle to repeat the 2012 trick of asking Greeks to vote again in the hope that they might produce a more sensible government. In its policies Syriza represents, at best, uncertainty and contradiction and at worst reckless populism. On the one hand Mr Tsipras has recanted from his one-time hostility to Greece's euro membership and toned down his more extravagant promises. Yet, on the other, he still thinks he can tear up the conditions imposed by Greece's creditors in exchange for two successive bail-outs. His reasoning is partly that the economy is at last recovering and Greece is now running a primary budget surplus (ie, before interest payments); and partly that the rest of the euro zone will simply give in as they have before. On both counts he is being reckless. In theory a growing economy and a primary surplus may help a country repudiate its debts because it is no longer dependent on capital inflows. But the Greek economy still has far to go to restore its lost competitiveness, and Mr Tsipras's programme would undo most of the gains of recent years. The notion that EU leaders are so rattled by fears of Grexit that they would pay any price to avoid it was more valid in 2011 and 2012 than it is now. The anti-contagion defences that the euro zone has since built make Grexit easier to contemplate for northern Europeans. Much has been done to improve the euro's architecture, with a new bail-out fund, the European Central Bank's role as lender of last resort and a partial banking union. Moreover, most of the bailed-out and peripheral countries are at last growing again, and unemployment is starting to fall. Europe's Lehman moment? The result is a game of chicken that neither Greece nor Europe can afford. Even if the Grexit is safer, it is still perilous and unpredictable. There was a worrying echo this week of the Lehman crisis of September 2008. Then the widespread assumption was that the global financial system was robust enough to cope with the failure of a single investment bank. Now investors are putting their trust in the resilience of unemployment-plagued countries like France, whose president has record levels of unpopularity, and Italy, whose economy has shrunk in constant prices in the first 14 years of this century (even Greece's GDP is higher now than it was in 1999). That stagnation points to the deeper reason for caution. The continuing dismal economic performance of the euro zone now poses a big political risk to the single currency. In the short run, so long as creditor countries (and that means principally Germany) insist only on budgetary rectitude and reject all proposals for further monetary and fiscal stimulus, that performance seems unlikely to improve. Worse, inflation is now so dangerously low that the euro zone threatens to tip into years of deflation and stagnation worryingly reminiscent of Japan in the 1990s. The continent's leaders have largely failed to push through the structural reforms that could make their economies more competitive. When voters see no hope, they are likely to vote for populists--and not just in Greece. As 2015 approached, most of Europe's leaders assumed that the worst of the euro crisis was behind them. The early Greek election shows that hope was premature. Populist parties of left and right that are against the euro, explicitly or not, continue to gain ground in many countries--the leader of Podemos, Spain's highest-polling party, welcomed Mr Tsipras's success in forcing an election this week (see page 22). Ironically, when a country starts to recover is also when popular discontent often boils over. That message needs to be heeded this week in Berlin as much as in Athens. Click here to subscribe to The Economist Join the conversation about this story »
|
| READ THE ORIGINAL POST AT uk.businessinsider.com |
German government confident Greece will stick to reforms
By Erik Kirschbaum BERLIN (Reuters) - The German government expects Greece to stick to the terms of its EU/IMF bailout agreement after a Jan. 25 election and a possible change of government in Athens, a spokesman for Chancellor Angela Merkel said on Sunday. However, spokesman Georg Streiter declined to comment on a report in Der Spiegel magazine that said Merkel's chancellery had shifted its ...
|
| READ THE ORIGINAL POST AT news.yahoo.com |
Greek Left-Wing Party Leader Promises to Abandon Austerity Policy
MOSCOW, January 4 (Sputnik) — Leader of the Greek left-wing Syriza party, Alexis Tsipras, announced that he would abandon policy of austerity, ...
|
| READ THE ORIGINAL POST AT sputniknews.com |
Germany Should Not Scoff At Greece
Germany is playing hardball with Greece, insisting on austerity and rigor that could turn the southern European country's drama into tragedy and lead ...
|
| READ THE ORIGINAL POST AT www.forbes.com |
Merkel to Greek Voters: End austerity and we'll be happy to let you leave Euroland
He described the Greeks like your drunken brother-in-law who joins the business but rarely works, preferring to spend his time in the Country Club ...
|
| READ THE ORIGINAL POST AT www.biznews.com |
Britain, beware Greeks bearing snap general elections
Business Leader: the financial markets are calm despite prospects of an anti-austerity anti-euro victory for the left in Greece which could heavily affect the UK in 2015It is not hard to imagine leaders in Madrid, Lisbon and Rome fearing the bitter general election that is due to shape Greece’s future and play a key role in setting the continent’s economic course this year. The snap poll, called following parliament’s failure to elect a new president, will bring added instability to a eurozone already mired in economic stagnation and internal wrangling. Continue reading...
|
| READ THE ORIGINAL POST AT www.theguardian.com |
‘PASOK Is the Custodian of the Country’s National Strategy,’ Says its Leader Venizelos
PASOK’s main aim is to receive the third mandate to form a government and be a catalyst for developments, party leader Evangelos Venizelos said on Saturday, speaking at a meeting with party secretaries at a central hotel in Athens, Greece. “PASOK is the custodian of the country’s national strategy,” said Venizelos, who is also the current Greek government Vice President and Foreign Minister, noting that his party is not “hooked” on power. “We have an obligation to deliver the country intact on election day and we will, there will be a safe framework. For the day after the elections, the responsibility lies with the people who have the power to determine their fate,” he said, adding that this is “the moment of truth, you have to prove everything you say and that’s where we’ll get to know each other again.” Venizelos noted that his party is heading towards elections with a very clear political position that is real, and reality is difficult. “But there is no other way,” he said and the party will analyze all those details next Saturday, when it will present its program. Commenting on Former Premier and leader of PASOK George Papandreou who formed a new party, Venizelos said: “PASOK is asked to give a battle in tough conditions because, apart from everything else, we have the decision of Mr Papandreou to form his own private party, something that had been decided for some time and there was no need to keep up appearances.” Venizelos added that it was pointless trying to present proposals, show good will, create unity and keep everyone in the ballot, under the emblem and name of PASOK. (source: ana-mpa)
|
| READ THE ORIGINAL POST AT greece.greekreporter.com |
Greek Opposition Party Syriza’s Lead Narrows, Polls Show
ATHENS—Greek leftist opposition party Syriza continues to lead in public opinion polls just weeks ahead of national elections, a new poll showed Sunday, though its lead over the ruling New Democracy party has narrowed slightly. According to the poll ...
|
| READ THE ORIGINAL POST AT www.wsj.com |
Germany Mistakenly Believes The Euro Could Survive Greek Exit
As part of the verbal and political sparring leading up to the coming Greek elections, we see that various Germans are now saying that the euro, the ...
|
| READ THE ORIGINAL POST AT www.forbes.com |
Spiegel: Grexit Not a Problem For Germany
Fears of Greece’s departure from the Euro after an impeding preponderance of Alexis Tsipras‘ anti-austerity political party, SYRIZA, on the January 25 Greek elections, don’t seem to torment the Angela Merkel administration, according to German magazine Der Spiegel. Unnamed authority officials in Berlin revealed to the magazine that the German Chancellor, as well as Finance Minister Wolfgang Schaeuble, are currently examining the polls that show New Democracy and PASOK parties losing power in the Greek territory and the eventuality of a new Greek government formation under the supervision of SYRIZA’s leader, Tsipras. It should be mentioned that Tsipras plans to renegotiate Greece’s bailout, if his party comes to power. If Greece decides to abstain from any kind of cuts on its budget deals, failing to satisfy the huge debt, it will quickly follow the path of a risky exit from the Eurozone, something that could easily be manageable by the European partners, according to the German officials. “If Greece chooses a different path, it will become difficult. The new government must stand by agreements made by its predecessors,” Schaeuble hastened to declare.
|
| READ THE ORIGINAL POST AT greece.greekreporter.com |
James Harding: British man plans ambitious project to globalise news
Some news agendas are global. But others rely on a local angle to attract readers in a media culture that still looks inwardsThe first headlines – broadcast and print – of the AirAsia crash told us there were 162 souls on board, including “one Briton”. The first equivalent dispatches on the Greek ferry blaze put “four Britons” (including a “British showjumper”) on the lost-and-found list. Now, of course, both stories developed over passing days, gaining wider dimensions. But initial reactions count. Brit media outlets, Brit passport holders at risk… What does it mean for the “Future of News”?That “Future” project, you may recall, is a grand BBC initiative – drawing in testimony from far and wide – to discover what audiences will want in 2017, 2022 and 2027. There’s an open day of discussion promised in a few weeks’ time. But meanwhile, concentrate on 2015 and the latest thoughts from James Harding, head of BBC News. Then scratch your head a little. Continue reading...
|
| READ THE ORIGINAL POST AT www.theguardian.com |
Ex-PM launches new party three weeks ahead of elections in Greece
We welcome every active citizen that will sign our declaration today, and in the coming days when we will travel all over Greece, for our Democrat and ...
|
| READ THE ORIGINAL POST AT www.euronews.com |
Subscribe to:
Posts (Atom)