Two formations of 11 Turkish fighter jets violated Greek air space over the northeastern, central and southeastern Aegean on 10 occasions on Tuesday, Greek defense officials said.
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
How the world sees Greece
Tuesday, June 2, 2015
Economic sentiment sinks to lowest level in 18 months
The mood regarding the economy in Greece is at its gloomiest in the last 18 months as the uncertainty over the future grows and fears of the worst are far from banished, according to a survey on economic sentiment by the Foundation for Economic and Industrial Research (IOBE) published on Tuesday.
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Wilmington Greek Fest opens today with special dishes
Some Greek dishes served in the Hellenic Community Center at the Holy Trinity Greek Orthodox Church, 808 N. Broom St., Wilmington, are only ...
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| READ THE ORIGINAL POST AT www.delawareonline.com |
SYRIZA on tenterhooks ahead of deal
With Greece due to be presented with a proposal from its lenders, attention is gradually turning toward SYRIZA and how the party’s MPs and members will react to the content of the document put forward by the institutions.
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Celebrating tradition at Greek Festival
Celebrate all things Greek at this 46th annual festival that showcases everything from traditional music and dancing to Greek food and desserts.
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| READ THE ORIGINAL POST AT www.utsandiego.com |
Celebrating tradition at Greek Festival
Celebrate all things Greek at this 46th annual festival that showcases everything from traditional music and dancing to Greek food and desserts.
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| READ THE ORIGINAL POST AT www.utsandiego.com |
Celebrating tradition at Greek Festival
Celebrate all things Greek at this 46th annual festival that showcases everything from traditional music and dancing to Greek food and desserts.
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| READ THE ORIGINAL POST AT www.utsandiego.com |
Celebrating tradition at Greek Festival
Celebrate all things Greek at this 46th annual festival that showcases everything from traditional music and dancing to Greek food and desserts.
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| READ THE ORIGINAL POST AT www.utsandiego.com |
What Greece proposes on VAT and primary surplus
According to an Athens News Agency report, the 47-page long Greek plan to the EU/IMF contains specific proposals concerning VAT and primary surpluses. The plan sent to institutions on Monday foresees a primary surplus of 0.8% for 2015 and 1.5% for ...
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| READ THE ORIGINAL POST AT en.enikos.gr |
Duelling proposals bring cash-starved Greece step closer to a fix
Duelling proposals for Greece’s rescue are set to bring the country a big step closer to ending a long and bitter stalemate between the Greek government and its international creditors. On Tuesday, a day after European leaders held an emergency meeting ...
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| READ THE ORIGINAL POST AT www.theglobeandmail.com |
What Greece proposes on VAT and primary surplus
According to an Athens News Agency report, the 47-page long Greek plan to the EU/IMF contains specific proposals concerning VAT and primary surpluses. The plan sent to institutions on Monday foresees a primary surplus of 0.8% for 2015 and 1.5% for ...
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| READ THE ORIGINAL POST AT en.enikos.gr |
'Not Enough' Progress in Greece Bailout Talks: Eurogroup Chief
Eurogroup chief Jeroen Dijsselbloem today said he was unimpressed with the progress made in debt talks with Greece, after Athens claimed to have submitted a "realistic" plan to its creditors.
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| READ THE ORIGINAL POST AT www.ndtv.com |
An offer it cannot refuse
AS PHONEY wars often do, the four-month stand-off between Greece and its creditors may come to a sudden and dramatic end. On the evening of ...
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| READ THE ORIGINAL POST AT www.economist.com |
Creditors not satisified with Greek debt plan
"I believe the Greek government has made the maximum level of concessions — there is no margin left. No margin," he said on Skai television.
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| READ THE ORIGINAL POST AT www.sltrib.com |
FTSE hits one-month low on Greek concerns
Leading shares fall back but mining sector provides some supportIn another volatile day, leading shares lost ground again despite support from the mining sector.Anglo American added 45.5p to 1048.5p after it saw a rise in sales of iron ore to India, while Rio Tinto rose 67.5p to £29.02 and Antofagasta was up 23.5p at 766.5p.Synergy reported 2015 results broadly in line with our expectations, though slightly below consensus. The board is not recommending a final dividend (and did not pay an interim) due to the Steris transaction, though a special dividend of 15.8p has been proposed (timing not specified). Following the Federal Trade Commission objection and pending court case, completion is now unlikely before the fourth quarter. We maintain our estimates and hold. Continue reading...
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| READ THE ORIGINAL POST AT www.theguardian.com |
Tobacco firms weigh on FTSE 100
The UK market closed lower as tobacco shares fell following a court ruling in Canada, and with worries persisting over the Greek debt crisis.
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| READ THE ORIGINAL POST AT www.bbc.co.uk |
Rumor and speculation mill work overtime over Greek gov’t proposals to lenders
The rumor and speculation mill is working overtime as usual when negotiations between Greece and its creditors are at a crucial point. After Prime Minister Alexis Tsipras revealed that Greece sent a draft plan to the Troika-Institutions on Monday night, national and international media started to upload on their websites […]
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| READ THE ORIGINAL POST AT www.keeptalkinggreece.com |
Tobacco firms weigh on FTSE 100
The UK market closed lower as tobacco shares fell following a court ruling in Canada, and with worries persisting over the Greek debt crisis.
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| READ THE ORIGINAL POST AT www.bbc.co.uk |
Michael Essien in Athens to Join Panathinaikos
Ghana international and former Chelsea midfielder Michael Essien arrived in Athens on Monday night to join Panathinaikos F.C. after the Athens-based club secured a Champions League spot last weekend. The 32-year-old football player is expected to begin the next chapter of his career in Greece signing a two-year contract worth €2million as a free agent following the conclusion of an 18-month spell in Serie A with Milan. The Ghana international, who won nine trophies, including two Premier League titles, four FA Cups, one League Cup, a Community Shield, and the 2011-12 Champions League playing for Chelsea between 2005 and 2014, gladly accepted interviews to local media and poses for photographs with Panathinaikos supporters during his arrival at the Athens International airport. Michael Essien was the Blues’ player of the year in 2007 and the scorer of their goal of the season in 2007 and 2009. The talented player, who began his career with French club Bastia will join Panathinaikos after his great success playing for Real Madrid and AC Milan.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Stock Futures Shaken by Greece Debt Uncertainty
NEW YORK (TheStreet) -- Stock futures were modestly lower, following European markets into the red as Greece debt talks continued with no clear ...
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| READ THE ORIGINAL POST AT www.thestreet.com |
Stocks turn positive despite rising yields; Greece eyed
"There's not much to look at other than the negotiations between Greece and the IMF," said Randy Frederick, managing director of trading and ...
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| READ THE ORIGINAL POST AT www.cnbc.com |
Greek small firms: profits down, turnover worsens, financing a big problem
Small and Medium Enterprises in Greece are having a rough time, according to a biannual survey by the European Central Bank published Tuesday. According to the publication, Survey on the access to finance of enterprises in the euro area: October 2014 ...
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| READ THE ORIGINAL POST AT en.enikos.gr |
Uncertainty over deal prospects pushes Greek stocks 2.47% lower
Uncertainty over the outcome of negotiations between Greece and its creditors pushed the Athens Stock Exchange lower Tuesday. The ASE general index closed at 804.96 points, a loss of 2.47%. The session began auspiciously, with the benchmark index gaining 0.95% to peak ...
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| READ THE ORIGINAL POST AT en.enikos.gr |
Greece, lenders exchange plans as deadline looms
A reform plan sent by Greece to its lenders has been welcomed by the EU's executive as a "good sign." But, Eurogroup head Jeroen Dijsselbloem says progress made is still "not really enough" to unlock fresh bailout funds.
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| READ THE ORIGINAL POST AT www.dw.de |
US Stocks Pare Losses, Awaiting Greek Resolution
”You have this Greek situation, which seems to be coming to some type of head,” said Michael O'Rourke, chief market strategist at JonesTrading.
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| READ THE ORIGINAL POST AT www.wsj.com |
Forex technical analysis: EURUSD rises on Greek deal. We have been down this road before.
Back in February, the bailout extension was agreed for 4 months which has brought us to this point. At that time, the activity prior to the announcement ...
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| READ THE ORIGINAL POST AT technical-analysis.forexlive.com |
Greece, lenders exchange plans as deadline looms
A reform plan sent by Greece to its lenders has been welcomed by the EU's executive as a "good sign." But, Eurogroup head Jeroen Dijsselbloem says progress made is still "not really enough" to unlock fresh bailout funds.
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| READ THE ORIGINAL POST AT www.dw.de |
US Stocks Pare Losses, Awaiting Greek Resolution
”You have this Greek situation, which seems to be coming to some type of head,” said Michael O'Rourke, chief market strategist at JonesTrading.
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| READ THE ORIGINAL POST AT www.wsj.com |
Forex technical analysis: EURUSD rises on Greek deal. We have been down this road before.
Back in February, the bailout extension was agreed for 4 months which has brought us to this point. At that time, the activity prior to the announcement ...
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| READ THE ORIGINAL POST AT technical-analysis.forexlive.com |
Greece, creditors line up rival proposals for more aid
Greece’s creditors are close to finishing a draft agreement to put to the leftist government in Athens, a source close to the talks said on June 2, injecting new momentum into long-running negotiations to release aid for the cash-strapped country
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| READ THE ORIGINAL POST AT www.hurriyetdailynews.com |
US stocks little changed as investors weigh economy, Greece
NEW YORK (AP) — U.S. stocks were little changed on Tuesday as investors weighed the latest economic news and followed negotiations between Greece and its creditors. PVH Corp., the company behind Calvin Klein and Tommy Hilfiger, was among the day's winners. The stock jumped after it reported earnings that beat the expectations of Wall Street analysts.
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| READ THE ORIGINAL POST AT uk.news.yahoo.com |
Fed's Brainard says U.S. economic slowdown may be more than temporary
WASHINGTON (Reuters) - The U.S. economy's recent poor performance may be more than transitory, as the full impact of weak consumer spending, low investment and the high value of the dollar become apparent, Federal Reserve board member Lael Brainard said on Tuesday."It would be difficult...to dismiss the possibility of a more significant drag on the economy," Brainard said in a speech at the Center for Strategic and International Studies at which she indicated a rate hike may still be a ways off. "There is value to watchful waiting while additional data help to clarify the economy's underlying momentum."Adding a bearish voice to the debate over the economic outlook, Brainard gave the fullest exposition yet of how a high dollar, weak foreign demand and the collapse in oil prices have complicated the U.S. outlook. The expected benefits - of higher consumer spending, for example - have yet to materialize, while the drag on exports has been more severe and lasting than anticipated."The data are presenting a mixed picture...There may be reason not to ignore recent readings entirely," with the second quarter not yet showing signs of the expected "bounceback" from the dismal start of the year, Brainard said.Brainard said the recovery so far has been a story of "fits and starts," and that may be playing out again."The underlying momentum of the recovery has proven relatively susceptible to successive headwinds," Brainard said. "Data in hand pertaining to the second quarter do not suggest a significant bounceback."Current headwinds from broad, including the risks associated with a Greek default and a slowdown in China, "may persist for some time," she said.The Fed's policy setting committee meets in June and for the first time since the crisis will have the door open to an interest rate increase. Fed officials have signaled a hike is unlikely in June, given recent disappointment in some economic data and the concern that a more significant slowdown may be taking shape.Brainard's speech adds significantly to that impression.A recent appointee to the Fed, Brainard was previously the head of international economic matters at the Treasury Department, closely attuned to issues like the structural economic problems faced by China and the implications of the euro zone crisis.Many Fed officials have suggested the troubles overseas would have only a transitory effect on the U.S. economy. Brainard's comments are the most forceful statement yet of how overseas troubles may further delay the Fed's liftoff of interest rates.(Reporting by Howard Schneider; Editing by Chizu Nomiyama)Join the conversation about this story »
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| READ THE ORIGINAL POST AT www.businessinsider.com |
Dinner in 2050
What will our dinner plate look like in 2050? As Yogi Berra commented, there is nothing more difficult to predict than the future, except that dinner for most people is likely to be different than it is today. Several realities will play out: the number of mouths to be fed will increase from about 7 billion today to about 9.5 billion by 2050. Climate change is happening at a rate that seemed unimaginable just a few years ago and the political will to mitigate this has not been apparent; in the U.S., even modest proposals are being met with obstruction at every step by oil and coal interests and their Congressional puppets. Already, extremes in temperature and drought are affecting food production adversely, and this will almost certainly increase in ways that are difficult to predict. Even now only a tiny fraction of the world's population eats an adequate and healthy diet. In the U.S., fewer than 5% of Americans meet the national dietary goals: sugar, refined starch, and potatoes comprise about 40% of our national caloric intake, fruit and vegetable consumption remains low, and red and processed meat intake is high. Globally, the majority of the world's population lives on an unbalanced diet high in carbohydrates that is becoming increasingly refined and high in sugar, and almost a billion persons have inadequate caloric intake. The transition to an industrial, highly processed diet, now fueling a pandemic of obesity and diabetes, is being accelerated by multinational corporations such as Coca Cola and Pepsi, who regard this as their market of the future. Current U.S. trends in dietary patterns and health indicators suggest a troubling future. We recently analyzed U.S. national data from 2000 to 2010, examining 11 dietary variables that strongly predict risk of cardiovascular disease, diabetes, and death. On average, the overall quality of diet had modestly improved over this period, although it remained far from optimal. About half of the improvement was due to a large decrease in trans fat, but soda consumption also decreased modestly, and whole grains and fruits increased slightly. However, the overall improvement masked a disturbing feature in these trends: all of the increase was in those with higher incomes and education; among those with low income and education, there was no improvement at all, and the gap in dietary quality by socio-economic status doubled over the decade. Because the dietary-quality score strongly predicts health outcomes and death, it is no surprise that that these trends in diet quality have moved in parallel with widening income disparities and mortality trends in the U.S. Thus, the emerging picture is of two Americas, whether viewed through an economic, health, or dietary lens. These global and domestic trends suggest that our dinner plates in 2050 will look very different, depending on who we are: most common will be the global-industrial plate, comprised primarily of the cheapest and most profitable calories: refined starch and sugar. These may be paired with industrially synthesized fats that are now being manufactured from cheap carbohydrates. Fruits, vegetables, whole grains, and protein sources will be few. Is this soylent green? Maybe nutritionally so, but I am confident that this will not be so dreary because there will be huge profit in marketing these ingredients in many forms, colors, and flavors -- as is already being done with ultra-processed foods. A small, affluent fraction of the population may still be infatuated with the paleo plate, which emphasizes red meat and full-fat dairy products. This diet does minimize the adverse metabolic effects of refined carbohydrates, but is not optimal due to the high intakes of unhealthy fats and cholesterol. This diet will necessarily be limited to a small part of the global population, as it is extremely consumptive of land and water resources. Fortunately, another option is possible, the smart and sustainable plate. The model for this plate is the traditional Mediterranean diet, which emphasized olive oil, abundant fruits, vegetables, whole grains, nuts, seeds, legumes and fish; moderate amounts of dairy foods, and only occasional red meat. Notably, this diet sustainably supported a remarkable civilization on a semiarid land, and during the 1950s Greek men lived many years longer than American men. In the last 30 years, many lines of research have substantiated the health benefits of this diet and we now understand the important elements so that a similarly healthy diet can be created with the foods and flavors from other cultures and climates. We don't need to scour the world to find people eating this way now; they are in our studies right here in America, and we find they live longer and have a better quality of life than those consuming the traditional animal-based, industrial American diet. How do we bring as many people as possible to a table where the smart and sustainable dinner is served? Fundamentally, we need to consider both the nutritional and sustainability aspects of food policies if we are to have healthy and secure dinners in 2050. This includes the need for careful analysis and research to ensure that every step of the food production and distribution system has the smallest environmental footprint possible. This blog post is part of a series produced by The Huffington Post and the EAT Initiative, in conjunction with the latter's 2nd annual EAT Stockholm Food Forum (Stockholm, June 1-2, 2015). The EAT Stockholm Food Forum aims to convene thought leaders at the intersection of science, business and politics, to develop integrated strategies and synergic solutions toward a healthier and more sustainable global food system. For more information about EAT Stockholm Food Forum, read here. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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| READ THE ORIGINAL POST AT www.huffingtonpost.com |
Fed's Brainard says U.S. economic slowdown may be more than temporary
WASHINGTON (Reuters) - The U.S. economy's recent poor performance may be more than transitory, as the full impact of weak consumer spending, low investment and the high value of the dollar become apparent, Federal Reserve board member Lael Brainard said on Tuesday."It would be difficult...to dismiss the possibility of a more significant drag on the economy," Brainard said in a speech at the Center for Strategic and International Studies at which she indicated a rate hike may still be a ways off. "There is value to watchful waiting while additional data help to clarify the economy's underlying momentum."Adding a bearish voice to the debate over the economic outlook, Brainard gave the fullest exposition yet of how a high dollar, weak foreign demand and the collapse in oil prices have complicated the U.S. outlook. The expected benefits - of higher consumer spending, for example - have yet to materialize, while the drag on exports has been more severe and lasting than anticipated."The data are presenting a mixed picture...There may be reason not to ignore recent readings entirely," with the second quarter not yet showing signs of the expected "bounceback" from the dismal start of the year, Brainard said.Brainard said the recovery so far has been a story of "fits and starts," and that may be playing out again."The underlying momentum of the recovery has proven relatively susceptible to successive headwinds," Brainard said. "Data in hand pertaining to the second quarter do not suggest a significant bounceback."Current headwinds from broad, including the risks associated with a Greek default and a slowdown in China, "may persist for some time," she said.The Fed's policy setting committee meets in June and for the first time since the crisis will have the door open to an interest rate increase. Fed officials have signaled a hike is unlikely in June, given recent disappointment in some economic data and the concern that a more significant slowdown may be taking shape.Brainard's speech adds significantly to that impression.A recent appointee to the Fed, Brainard was previously the head of international economic matters at the Treasury Department, closely attuned to issues like the structural economic problems faced by China and the implications of the euro zone crisis.Many Fed officials have suggested the troubles overseas would have only a transitory effect on the U.S. economy. Brainard's comments are the most forceful statement yet of how overseas troubles may further delay the Fed's liftoff of interest rates.(Reporting by Howard Schneider; Editing by Chizu Nomiyama)Join the conversation about this story »
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| READ THE ORIGINAL POST AT feedproxy.google.com |
Emergency Greek debt talks fail to agree terms of bailout ultimatum
German chancellor pushing for speedy agreement between creditors as crisis threatens to engulf G7 summit this weekendEurozone and IMF officials scrambled to agree on an ultimatum to Greece on Tuesday after an emergency summit between Athens’ creditors failed to reach a common position on its bailout terms and Angela Merkel pushed for the deal’s outlines to be finalised this week.No one is going to push for a real agreement because the one who takes the lead takes too much risk Continue reading...
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| READ THE ORIGINAL POST AT www.theguardian.com |
Greece teeters on the edge of a cliff
It is hard to exaggerate the impact for the euro project of an exit — even of a state as small and annoying as Greece
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| READ THE ORIGINAL POST AT www.ft.com |
Greece Challenges Its Creditors With New Proposal Seeking to Break Debt Impasse
Prime Minister Alexis Tsipras announced that his government had sent creditors a final plan to unlock financial aid that the financially struggling country desperately needs.
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| READ THE ORIGINAL POST AT rss.nytimes.com |
Greece casts shadow as ECB gauges strength of recovery
FRANKFURT, Germany (AP) — More and more, Europe's economy is showing signs of life. Now if only this Greek thing would clear up.
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| READ THE ORIGINAL POST AT uk.news.yahoo.com |
Greece teeters on the edge of a cliff
It is hard to exaggerate the impact for the euro project of an exit — even of a state as small and annoying as Greece
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| READ THE ORIGINAL POST AT www.ft.com |
Emergency Greek debt talks fail to agree terms of bailout ultimatum
German chancellor pushing for speedy agreement between creditors as crisis threatens to engulf G7 summit this weekendEurozone and IMF officials scrambled to agree on an ultimatum to Greece on Tuesday after an emergency summit between Athens’ creditors failed to reach a common position on its bailout terms and Angela Merkel pushed for the deal’s outlines to be finalised this week.No one is going to push for a real agreement because the one who takes the lead takes too much risk Continue reading...
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| READ THE ORIGINAL POST AT www.theguardian.com |
Greece Challenges Its Creditors With New Proposal Seeking to Break Debt Impasse
Prime Minister Alexis Tsipras announced that his government had sent creditors a final plan to unlock financial aid that the financially struggling country desperately needs.
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| READ THE ORIGINAL POST AT rss.nytimes.com |
Greece Challenges Its Creditors With New Proposal Seeking to Break Debt Impasse
Prime Minister Alexis Tsipras announced that his government had sent creditors a final plan to unlock financial aid that the financially struggling country desperately needs.
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| READ THE ORIGINAL POST AT rss.nytimes.com |
Greek Economy on Downward Slope in May, Despite Slight Improvement in Some Sectors
The Greek economy went again on a downward slope in May, according to a survey by the Foundation for Economic & industrial Research (IOBE). The economy index fell to 91.4 points, compared to 92.7 points in April. The new, negative development is the result of deterioration of business expectations, especially in construction and services, and a decline in consumer trust. There was no cash inflow in the Greek market in May. Instead there was internal borrowing on the part of the Greek government and delay of repayment of state debts to suppliers. Thereby, the Greek market faced a serious liquidity problem. At the same time, the climate of uncertainty created by the stalling in negotiations between Athens and international creditors has put the lid on expectations. Businesses and individuals are in a continuous state of waiting to assess the new situation arising from a possible short-term or long-term agreement. Specifically, regarding consumer trust, projections for the next twelve months are that the economic situation and unemployment will get worse, while the intention for more savings in the bank has improved slightly. In manufacturing, projections show growth in production, while estimates for supply and demand have also improved slightly. In the service industry, forecasts are negative in the short run at least, while the previously negative forecasts for the current state of businesses is improving slightly. Forecasts in retail show slight improvement, as well, especially in the short run. Finally, in the construction industry there is a sharp decline that also reflects in high unemployment figures in the sector.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Greek Economy on Downward Slope in May, Despite Slight Improvement in Some Sectors
The Greek economy went again on a downward slope in May, according to a survey by the Foundation for Economic & industrial Research (IOBE). The economy index fell to 91.4 points, compared to 92.7 points in April. The new, negative development is the result of deterioration of business expectations, especially in construction and services, and a decline in consumer trust. There was no cash inflow in the Greek market in May. Instead there was internal borrowing on the part of the Greek government and delay of repayment of state debts to suppliers. Thereby, the Greek market faced a serious liquidity problem. At the same time, the climate of uncertainty created by the stalling in negotiations between Athens and international creditors has put the lid on expectations. Businesses and individuals are in a continuous state of waiting to assess the new situation arising from a possible short-term or long-term agreement. Specifically, regarding consumer trust, projections for the next twelve months are that the economic situation and unemployment will get worse, while the intention for more savings in the bank has improved slightly. In manufacturing, projections show growth in production, while estimates for supply and demand have also improved slightly. In the service industry, forecasts are negative in the short run at least, while the previously negative forecasts for the current state of businesses is improving slightly. Forecasts in retail show slight improvement, as well, especially in the short run. Finally, in the construction industry there is a sharp decline that also reflects in high unemployment figures in the sector.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
German Media: The Last Offer to Greece
German media today are mainly focusing on the meeting between German Chancellor Angela Merkel, French President Francois Hollande, ECB President Mario Draghi, European Commission President Jean-Claude Juncker and IMF director Christine Lagarde, in Berlin. The German newspapers Die Welt, Die Zeit and Handelsblatt published articles entitled “A last offer to Greece, while Frankfurter Allgemeine’s article was entitled “Merkel concluded the last chance evening summit” and Suddeutsche Zeitung notes that yesterday’s meeting was “A final proposal.” According to Die Welt the meeting was intended to make a final offer to the Greeks, based strictly on the basis of the current program.” Indeed, according to the German newspaper, Athens made efforts to approach its creditors. Greek Prime Minister Alexis Tsipras hinted that he is ready to discuss raising the retirement age and making pension cuts. However, the final proposal has not yet been made. Frankfurter Allgemeine noted that the German government representative Steffen Seibert pointed out that the five officials agreed to seek a solution, but remain in close contact with the Greek government. Furthermore, Suddeutsche Zeitung reported that many believe the five officials’ discussion in Berlin, which lasted about three hours, is the prelude to a decision on Greece’s future in the Eurozone. During the summit held in Berlin, Greece’s creditors attempted to reach a final compromise, noted Die Zeit. However, the results of this meeting have not yet been announced. The Greek debt issue is now entering its last phase, noted Handelsblatt, explaining that on Friday, Athens needs to pay a 300 million euro installment. The country’s international creditors noted that the Greek government should accept a compromise package, but they have not managed to reach an agreement, the newspaper added. Finally, Der Spiegel reported that Greece’s creditors held an extraordinary meeting in Berlin in order to determine their next steps, in the absence of Greek Prime Minister Alexis Tsipras. The institutions are planning a last compromise proposal for Athens, noted the article.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
New Democracy Lashes Out at Government on its Negotiation Policy
Main opposition New Democracy (ND) spokesman Costas Karagounis on Tuesday lashed out at the Greek government on its negotiation policy. More specifically, he accused the government of having admitted that “the so-called proud negotiation has ended up in an ultimatum.” “Until last week, Mr. Tsipras was assuring us that the text of the agreement was being finalized,” while “today he says that an agreement has not been reached yet and he has just submitted his own draft,” Karagounis noted. He also referred to SYRIZA members’ statements on the possibility of early elections, elections that Greece cannot withstand. “What are they going to ask for? A mandate to drive the country into the rocks? Or an apology for the lies they have said?” Karagounis wondered. (source: ana-mpa)
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
U.S. Senator Menendez Opposes Ambassador Koenig’s Statement on Cyprus
U.S. Senator Bob Menendez issued a statement expressing strong opposition to comments made by U.S. Ambassador to Cyprus John Koenig on Wednesday at the University of Cyprus where he said that he did not regard the Cyprus problem as a problem of invasion and occupation. “Cyprus is divided today because Turkey invaded and occupied the island over 40 years ago,” says the statement by Senator Menendez, adding that it is an undisputed historical fact and the violation of Cypriot sovereignty is at its core most certainly a problem of invasion and occupation. “That is why I strongly oppose the comments of U.S. Ambassador Koenig on this difficult topic for the Greek Cypriot community and its leadership who are striving to achieve a peaceful and meaningful resolution to this conflict,” he points out. The Ambassador’s remarks, he adds, only complicate that effort to produce a lasting peace for all Cypriots and does not reflect U.S. policy or views. “Cyprus and the Eastern Mediterranean region is poised for tremendous economic growth and opportunity, and these comments create additional challenges at a hopeful time that are unnecessary and regrettable,” concludes the statement. Cyprus has been divided since the 1974 Turkish invasion. A new round of UN-backed talks resumed last month with the aim to reunite the island under a federal roof. (Source: CNA)
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Creditors Finalize Text of Bailout Agreement for Greece
Greece’s international creditors are finalizing the text of a bailout agreement that they will present to Greece, according to a Wall Street Journal report. Top officials from European institutions and the International Monetary Fund have sent a draft of the economic reforms list Greece needs to implement in order to unlock further financial aid to the cash-strapped Greek government, according to the report, citing officials close to the talks. German Chancellor Angela Merkel, French President Francois Hollande, European Central Bank President Mario Draghi, European Commission President Jean-Claude Juncker and International Monetary Fund Managing Director Christine Lagarde met on Monday evening in Berlin to hammer out the details of the proposal. Their meeting lasted until after midnight on Tuesday. The proposal will end the stalemate in talks that has lasted almost four months, leaving Greece out of cash and creditors out of patience. With its state coffers almost empty, Greece is on the brink of default to the IMF as it has a total of 1.6 billion euros due in loan repayments until the end of June. Also, June 30 marks the end of Greece’s bailout extension. If Greece does not accept the deal, it faces the risk of default and subsequent bankruptcy, something that might lead the country out of the euro zone. Several hard leftists within the SYRIZA-ANEL coalition government are adamant that they would not vote for the deal in parliament if it contains any austerity measures that go against pre-election pledges. However, European officials familiar with the talks say the Greek government is showing more flexibility in private discussions with lenders on pensions and other difficult issues, signaling it knows it will have to make hard concessions. At the same time, Juncker said in a German newspaper interview published on Monday that a Greek exit from the euro “is not an option” in part because it would damage international faith in the currency, the Wall Street Journal report says. “There is no alternative to reaching an agreement with Athens,” said Martin Selmayr, Juncker’s chief of staff, “because the alternative would be even worse than to make compromises now,” he added.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Police End Hostage Situation in Greek Ship Traveling to Piraeus
The passengers on the Greek ship KRITI II witnessed a terrifying experience when a women was held hostage by a man in the ship’s café area. According to the passengers, the man suddenly started yelling and causing problems. Before anyone had time to react, the man broke a glass or a bottle that was placed near him and grabbed a woman who had the misfortune of sleeping beside him. Her husband did not have any time to react, but then he tried to persuade the attacker to let go of his 28-year-old wife. As of six in the morning when the ship was approaching Piraeus port, KRITI II was accompanied by a Hellenic coast guard vessel. The other passengers were quickly removed from the area. The ship arrived at the port just a few minutes before 7 am and Greek police officers immediately went on board in order to clear the situation. The police managed to immobilize and handcuff the attacker. He was then transferred to the central Port Authority. According to witnesses, the young man who claimed to be in a rehabilitation program was delirious and police had to take blood samples to run tests. Fortunately the woman sustained only light injury to her neck. It was not a life-threatening wound, however, she was taken to a local hospital for purely precautionary reasons. The people who witnessed the incident stated that the man was beside himself, while the crew noted that his behavior indicated that he had been under the influence of alcohol or maybe drugs.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
At A Glance What Happens if Greece Defaults on IMF Payments?
Greece's creditors have hammered out a rescue deal to present Prime Minister Alexis Tsipras. Whether it gives enough ground to be acceptable to his ...
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| READ THE ORIGINAL POST AT blogs.wsj.com |