How the world sees Greece
Greek Prime Minister Alexis Tsipras lambasted creditors for their handling of his country’s debt crisis, but suggested that a coming summit of European leaders could be the decisive moment in the drawn-out negotiations.
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ATHENS, Greece (AP) -- Greek Prime Minister Alexis Tsipras told skeptical lawmakers in his left-wing government he had rejected demands from creditors to impose new austerity measures worth 1.8 billion euros ($2 billion), as the country's financial fate ...
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U.S. Treasury bonds strengthened Tuesday for a second consecutive session as worries over Greece boosted demand for haven assets. Investors have become skittish after negotiations between Greece and its international creditors broke down over the weekend ...
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The euro fell 0.4% to $1.1236 while the US dollar index, which measures the greenback against a basket of currencies, rose 0.3%
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Populism is presumptuous in claiming to speak for all of the people, but it can’t be wished away. It calls for creative engagementThe west is proud to be governed on the strength of popular elections, and so it is curious that “populist” is typically a term of derision. Many of the European parties that used to make up the mainstream are hollowed out. Amid yawning inequalities in wealth and power, the rules of trade, finance and migration are settled internationally, brokered by people for whom there’s not always an easy answer to the Tony Benn question: how do we get rid of you?A thoughtful Syriza supporter in Greece, or even a reflective Ukip voter in Britain, might argue that those who despair at the populist tide are not real democrats at all. The snotty remarks of today’s anti-populists, they might say, will one day sound as silly as Lord Salisbury’s description of the American civil war as the price of “deference to a dreamer’s theory” about giving votes to the poor. Continue reading...
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As Italy threatened to let tens of thousands of migrants loose across the European Union, interior ministers attempted to hammer out a compromise deal to tackle the growing refugee crisis, agreeing a plan for EU-managed “hotspots” in Italy and Greece where migrants would be held and processed.
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The Holy Synod, the Greek Orthodox Church’s governing body, on Tuesday denounced yoga, saying it is “incompatible” with the Christian faith.
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Tsipras’s abrasive tone and accusations of ‘criminal conduct’ by IMF stokes more anger as EU officials prepare to gather at Luxembourg last chance saloonFears that the five-year Greek financial crisis will culminate in debt default and exit from the euro have intensified as Athens hardened its rhetoric against its creditors and insisted it would miss a payment to the International Monetary Fund unless it received debt relief.With just 48 hours to go before a meeting of eurozone finance ministers, seen as the last realistic chance to reach a deal before Greece has to pay the IMF at the end of June, Alexis Tsipras, showed no sign of bowing to demands for cuts in pensions and increases in VAT. Instead, the Greek prime minister accused the Fund of “criminal responsibility” for the situation and said lenders were seeking to “humiliate” his country. Related: Tsipras does want a deal, as the alternative is unthinkable Related: Angela Merkel stands firm on finding resolution to Greece crisis Related: Eurozone braces for Greek exit as Athens threatens to miss IMF payment Continue reading...
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More defiant than ever, Greek Prime Minister Alexis Tsipras used a parliamentary speech to raise the game of brinkmanship with Greece’s creditors to an unprecedented level, even though the cash-starved government faces a debt default in two weeks.
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Greece’s spiralling debt crisis saw cash withdrawals total €400m on Monday. While anxiety varies around Athens, few Greeks see benefit in leaving the euro“Everybody’s doing it,” said Joanna Christofosaki, in front of a Eurobank cash dispenser in the leafy Athens neighbourhood of Kolonaki. “Our friends have all done it. Nobody wants their money to be worthless tomorrow. Nobody wants to be unable to get at it.”A researcher in the archaeology department at the Academy of Athens, Christofosaki said she knew plenty of people who had “€10,000 somewhere at home” and plenty of others who chose to keep their stash at the office. Was she among them? “If I was, I certainly wouldn’t tell you.” Related: Greece crisis: Tsipras blasts 'criminal' IMF in defiant speech - live updates Related: Tsipras does want a deal, as the alternative is unthinkable Related: Greece's latest attempt to reach deal with creditors collapses Related: Endgame looms for Greek crisis as both sides take debt negotiations to the brink Continue reading...
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Looks like this could be it for Greece, with Prime Minister Alexis Tsipras defying credito demands for more austerity and refusing to change his reforms list. The post World Press View: Tsipras Goes Breaking Bad On Troika appeared first on The National Herald.
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ATHENS, Greece (AP) — Greece is struggling to get a deal with its financial rescue creditors to get more loans. Without one, it could default on its debts, which could be the first step in a chain reaction that sees the country fall out of the euro currency union.
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“The practice of yoga has no place in the lives of Christians,” was the announcement made by the Holy Synod of the Church of Greece in response to the International Day of Yoga, which was established by the United Nations in 2014. The Holy Synod argues that since yoga is a fundamental aspect of Hinduism, it cannot be practiced by Christians because it is contrary to the Christian faith. And because of that it cannot be considered as just a “form of exercise.” The official announcement further states that the Church of Greece respects the freedom of religious belief but claims is has a responsibility in order to avoid developing a “climate of religious syncretism.”
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
European Commission President Jean-Claude Juncker expressed his anger toward the Greek government on Tuesday, accusing it of misstating his proposals on the ongoing debt negotiations in an effort to mislead Greek voters. “I don’t care about the Greek government, I do care about the Greek people,” Juncker said, underlying that some “are suffering more than others in the European Union” in their effort to reduce debt. Greek Prime Minister Alexis Tsipras stated on Tuesday that the European Commission proposals would add 10 percentage points to VAT on power, while Greek Health Minister Panagiotis Kouroumplis implied the Commission’s intention to raise VAT on drugs. Juncker said that the comments made by the Greek government are not consistent with what he had said to Tsipras and noted: “The debate in Greece and outside Greece would be easier if the Greek government would tell exactly what the Commission … is really proposing. I am blaming the Greeks [for telling] things to the Greek public that are not consistent with what I have told the Greek Prime Minister.”
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Former European Central Bank (ECB) President Jean-Claude Trichet said Greece’s best option is to remain in the euro area because the Greek public would first to bear the brunt of an exit. “I think the will of the Greek government, ...
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“Happiness” is considered to be a simple word by some. It almost seems they know it too well to think about it. But is it really possible for everyone to feel it? Sergiu George from international moving site Movehub has worked hard to put together an interesting infographic that reviews the state of happiness in the world today. The data was compiled by Numbeo.com from online survey information. In the infographic below, one can notice that some of the countries are marked with an asterisk, depicting this way their “low data reliability.” Furthermore, some other countries did not offer any data at all. According to the study, Greek people do not feel lucky enough with the quality of life they have. The happiest countries in the world are those situated mainly in Northern Europe (Switzerland, Denmark, Finland, Sweden, Norway, the Netherlands and Iceland), while the least happy countries seem to be poor countries in Asia (Mongolia, Myanmar, Cambodia, Nepal), Africa (Ghana, Uganda, Kenya) and South America (El Salvador, Peru).
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Greece’s nature may suffer innumerable disasters this summer season, since the country’s Fire Department is not operating properly. According to Greek newspaper “Ta Nea,” several fire trucks are currently immobilized because they are lacking tires and spare parts. Furthermore, aircraft are all very old, therefore they are grounded, while the Department also faces shortages in basic equipment. The shortages are caused by drastic reductions in funding to the Department due to budgetary constraints. The Department is also understaffed and firefighters are forced to work overtime and over the weekends to meet the Department’s needs. The Fire Department warns that winter rains have contributed to the increase of vegetation in forests, which inevitably dries over the summer, turning into an excellent fuel for fires. According to data released by the Fire Department, since the first quarter of 2015, fires have increased by 55.4% compared to the same period last year, mainly due to vegetation. The majority of forest fires, as shown by the statistics, occur due to arson by negligence. Two fires have already broken out in the Peloponnese, resulting in 6 hectares of burnt woodland and 2 hectares of burnt olive trees. A fire also occurred in Attica on Saturday, June 13.
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A Greek delegation intends to sign a political Russia-Greece agreement on the support of a pipeline with Russian gas on the territory of Greece during the St. Petersburg International Economic Forum, Greek Energy Minister Panagiotis Lafazanis said. Greek Prime Minister Alexis Tsipras is due to meet with his Russian counterpart Vladimir Putin in St. Petersburg on Friday. The proposed TurkStream project is a 1,090-kilometer (677-mile) Russian-Turkish natural gas pipeline running via the Black Sea. Its annual capacity after the anticipated December 2016 date of operability is estimated at 63 billion cubic meters. Up to 47 billion cubic meters are expected to reach the planned Turkish-Greek gas hub near the Ipsala border checkpoint. European Union member-states are then free to implement their own transport capacity for further gas distribution across their territory. Athens hopes the project, agreed to in December 2014, will allow it to purchase gas at lower prices and benefit from transit revenues. (source: Sputnik)
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“Unfortunately, there is nothing new to report on the Greek debt talks,” German Chancellor Angela Merkel told reporters at a news conference after meeting with Luxembourg Prime Minister Xavier Bettel. Merkel also expressed her will to do all she can in order to keep Greece in the Eurozone, putting though the onus to Athens and its international creditors to break the deadlock and reach an agreement. “I am concentrating all my energy on helping the three institutions and Greece find a solution,” she said. During the news conference, the German Chancellor revealed that the meeting of European Finance Ministers on Thursday evening is crucial. “Something can only be decided if there is a joint proposal that fulfills the conditions,” she stated, adding that “I have always said I want to do everything possible to keep Greece in the Eurozone. I remain dedicated to that.”
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Back in 2005, nobody in the world knew the meaning of the word “Grexit.” But in the following years, the word entered the lives of Greeks and Europeans, who began to wonder what it really meant. The global interest was not significant at first, however a few years later the word gained increasing popularity and is now used on a daily basis by numerous internet users across the globe. Bloomberg recently hosted diagrams in an effort to explain how public awareness has increased regarding the word Grexit. The first chart clearly shows that between 2005 and 2011 “Grexit” was unknown among web users. In 2012, however, internet search trends began to flare up reaching their highest level in 2015. Another table depicts the nationality of Google users who search for articles containing the term “Grexit.” The vast majority of searches come from people of Greek nationality, while Germans, Dutch, British, Italians and people from the U.S. seem to be significantly interested around the developments on the Greek debt issue. What about “Brexit”? The two diagrams that follow regarding a future exit of the United Kingdom from the European Union (EU) are revealing. Web users’ interest about a “Brexit” seems to be significantly smaller compared to a “Grexit” and it seems that the only ones who are really interested about such a potential scenario are the British themselves.
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Neither Greeks nor their partners should imagine a clean break if they leaves the euro
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By Alastair Macdonald BRUSSELS (Reuters) - Jean-Claude Juncker rebuked Greek Prime Minister Alexis Tsipras on Tuesday, accusing him of giving his voters a deliberately distorted version of proposals the EU chief executive had made to resolve Athens' debt crisis. The flash of anger, as European Commission President Juncker prefaced an answer at a news conference by saying he cared about Greece's people but not its government, was in sharp contrast to his previous efforts to befriend the novice leftist premier in the course of tortuous negotiations. With Greece struggling to avoid a debt default in two weeks' time that could threaten its membership of the euro, Tsipras had fulminated earlier to his parliamentary allies that EU and IMF creditors were demanding pension cuts and tax hikes to "humiliate not only the Greek government ... but humiliate an entire people".
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Jean-Claude Juncker has accused the Greek government of misleading voters as Alexis Tsipras said its creditors were trying to "humiliate" the country.
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By Thomas Escritt and Jesús Aguado AMSTERDAM/SANTANDER, Spain (Reuters) - The two politicians vying to chair the council of euro zone finance ministers, a key role in the Greek debt crisis, set out their stalls on Tuesday, with the Dutch incumbent promising further reforms and his Spanish challenger pointing to his country's economic turnaround. Spain's Luis de Guindos has been seen as the frontrunner for the job, with many believing it is time for the chairmanship to pass to one of the southern countries hardest hit by the euro zone's debt crisis. The race for the Eurogroup position comes as finance ministers struggle to hammer out a deal between Greece and its international creditors to avoid a default at the end of the month, which many fear could lead to a Greek exit from the euro.
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European Commission President Jean-Claude Juncker has delivered an angry rebuke to the Greek government and accused it of misleading voters about proposals he had made to help solve the country's debt crisis. "I don't care about the Greek government, I do ...
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Greek Prime Minister Alexis Tsipras said lenders were being politically motivated and were out to 'humiliate the country' as he signalled he will not accept austerity cuts to avoid a debt default.
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The migrants arrived from on the eastern Greek island, some wearing designer sportswear and branded headphones, and say there camps have no running water, electricity or sanitation.
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Greece would face unprecedented hardship if capital controls were introduced and the Syrizia party would see its populist support plummet rather fastHard though it is to believe sometimes, Alexis Tsipras does want to strike a deal. The increasingly abrasive language used by the Greek prime minister is a front for a politician who still thinks it is possible to negotiate his way out of the sticky situation he finds himself in.That has to be the assumption. The alternative to a deal would appear to be a Lehman Brothers-style moment sometime in the next 72 hours, when the Greek banks haemorrhage money and capital controls are introduced. At that point, support for Tsipras and his Syriza coalition is likely to dissipate rapidly, especially if Greece’s eurozone partners say capital controls are incompatible with membership of the single currency. Related: Greece crisis: Tsipras blasts 'criminal' IMF in defiant speech - live updates Related: Angela Merkel stands firm on finding resolution to Greece crisis Related: Eurozone braces for Greek exit as Athens threatens to miss IMF payment Continue reading...
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Greek banks are solvent and could withstand some stress but would run into trouble if the Greek government were to default, European Central Bank Governing Council member Klaas Knot told the Dutch parliament on Tuesday.
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European Union leaders have failed to agree on measures to share the burden of an influx of thousands of migrants crossing the Mediterranean to seek refuge in Europe. Ministers met in Luxembourg today to discuss how to distribute 40,000 new refugees who have arrived in Italy and Greece. The two countries have borne the brunt of the surge in migrants trying to enter the 28-nation European Union in recent months.
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Imports of energy and lifesaving medicines top the list of products in jeopardy if Greece defaults on its debt and moves closer to exiting the eurozone.
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Prime Minister Alexis Tsipras said austerity measures were humiliating and strangling his people as a meeting of European finance ministers neared.
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Greek Prime Minister Alexis Tsipras told skeptical lawmakers in his left-wing government he had rejected demands from creditors to impose new austerity measures worth 1.8 billion euros ($2 billion), as the country's financial fate continued to unsettle world markets. The post Tsipras Says He Rejected More Austerity Demands appeared first on The National Herald.
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Too hot to cook in Greece, so turn to something where you don't have to turn on the oven, this salad treat made with roka, the Greek word for arugula. The post Try The Greek Rocket Parmesan Salad appeared first on The National Herald.
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With time running out to reach a deal, investors think there's a very high chance of Greece defaulting on its debt.
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(Reuters) - Allianz chief economic adviser Mohamed El Erian told CNBC television on Tuesday that he sees the potential for a Greece debt "accident" at about 55 percent and rising, as the chances of a default continue to grow. El Erian told the business news channel that based on recent discussions with people in Europe, there is more confidence that any contagion arising from a default would be limited, and there is even talk the euro zone would be better off if Greece left the European Union. Greece is set to default on a 1.6 billion euro (1.16 billion pound) debt repayment to the International Monetary Fund on June 30, possibly driving it to leave the euro zone unless it receives fresh funds.
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Despite a stellar economic performance, investors begin to focus on similarities with Greece
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Banks still have enough collateral to plug their deposit gaps with central bank liquidity
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Greek Finance Minister, Yanis Varoufakis, told Spiegel Online that proposals have been "hard and inhuman". "Greece will only commit to them if Europe agrees to a debt restructuring, investments and an end to the liquidity crisis," Varoufakis said He advised "Ask [Angela] ...
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George Osborne has warned people not to “underestimate the potential damage to financial confidence” if Greece exits the eurozone, as the chancellor stepped up UK contingency planning for Grexit. Osborne this week oversaw talks with Whitehall officials which included discussions ...
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European Commission President Jean-Claude Juncker delivered an angry rebuke to the Greek government on Tuesday and accused it of misleading voters about proposals he had made to help solve the country's debt crisis. "I don't care about the Greek government, ...
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Investors remain cautious but hold out hope for eurozone agreementAfter falling to its lowest level since January, the FTSE 100 staged a mini-recovery to close the day barely changed.It was of course Greece which dominated much of the day, with investors growing more fearful the country would be forced to default and possibly leave the eurozone. However an opening rise on Wall Street - ahead of Wednesday’s US Federal Reserve meeting which will be scoured for clues about the timing of any interest rate rise - pulled European markests back from their worst levels. There was even a sprinkling of hope that a last minute deal could be reached between Greece and its creditors before the money runs out, and despite some defiant rhetoric from Greek prime minister Alexis Tsipras in parliament.Various Irish press reports suggest Liberty Global is the frontrunner to buy TV3, the Republic of Ireland commercial channel, from Doughty Hanson. We have seen TV3 valuation estimates of above €100m. This is way ahead of our original expectations of €70m-£80m....and endorses the attractiveness of broadcast assets in the Republic of Ireland. This is helpful for UTV Media, the owner of UTV Ireland (which is behind expectations). Continue reading...
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Greek banks are solvent and could withstand some stress but would run into trouble if the Greek government were to default, European Central Bank Governing Council member Klaas Knot told the Dutch parliament on Tuesday. Knot, who is also the head of the Dutch central bank, told the finance committee that Greek banks' collateral would no longer be accepted as security against loans by the ECB in the case of a default. Greek banks hold a lot of government debt and "that would become more problematic at the moment that a default actually takes place".
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By Jamie McGeever and Emelia Sithole-Matarise LONDON (Reuters) - The Greek crisis may be approaching its end game but some investors are waiting for the dust to settle and snap up euro zone stocks and bonds - whether a deal to prevent Athens defaulting is reached or not. Failure to reach agreement with international creditors will see Greece default on 1.6 billion euros of debt repayments to the International Monetary Fund due on June 30, a scenario that could ultimately lead to it exiting the euro zone. ...
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ATHENS/BERLIN (Reuters) - Prime Minister Alexis Tsipras lashed out at Greece's creditors on Tuesday, accusing them of trying to "humiliate" Greeks, as he defied a drumbeat of warnings that Europe is preparing for his country to leave the euro.
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By Francesco Guarascio LUXEMBOURG (Reuters) - France, Italy and Germany agreed on Tuesday to join forces to identify migrants arriving by sea and to swiftly relocate them across the European Union or send them back to their home countries if their claims for asylum in Europe are rejected. Ministers from the three countries put on a show of unity after the arrival in Europe of thousands of migrants, who make perilous Mediterranean crossings from Libya, strained the resources of Italy and Greece and raised tensions with northern European states that are the destinations of many migrants. “You have three friends in front of you,” French Interior Minister Bernard Cazeneuve said at a joint press conference with his Italian and German counterparts in an attempt to defuse the simmering spat.
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Stock markets across Europe sunk further into the red today, as Greek default and exit from the eurozone loomed ever closer.
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EU solidarity damaged by splits on migrants and Greece
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Former European Central Bank President Jean- Claude Trichet said Greece’s best option is to remain in the euro area because the Greek public would first to bear the brunt of an exit.
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The risk of capital controls is allegedly high as Greece rejects creditors’ absurd demands and dictates. The risk is considered “high” because the uncertainty pushes more and more savers to withdraw more and more money from the banks that on their part rely on Emergency Liquidity Assistance provided by the […]
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