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

Wednesday, July 22, 2015

CREDIT SUISSE: European stocks are cheap

Just two months ago, European equities looked quite expensive. The Euro Stoxx 50 index had increased 27 percent between January and April to a high of 3,828. And the euro had finally stemmed its long decline against the dollar, which wasn’t a good omen for exporters. Accordingly, Credit Suisse’s Investment Committee downgraded its view on European equities from outperform to neutral. But the downgrade didn’t last long. Late last month, the committee reinstated its outperform view on Europe, while keeping its global equities outlook at neutral. The view remained in place even as the Greek debt crisis built to a crescendo over the last three weeks.   For a time, it seemed quite possible that the brinksmanship surrounding Greece’s bailout negotiations would ruin the sentiment helping to drive the European stock market’s upward climb. But even when it seemed like a distinct possibility that Greece would leave the euro, Credit Suisse believed markets had little to fear. The bank’s Investment Committee said on July 6 that a “Grexit” would likely only serve to prod the European Central Bank to beef up its monetary stimulus, a likely positive for the stock market. Considered in that light, the turbulent political negotiations provided attractive entry points to the European market. The Euro Stoxx declined 14 percent between the April 13 high of 3,828 and a July 7 trough of 3,294, before bouncing back to 3,670 just over a week later, just 4 percent off the high.   Credit Suisse’s optimistic outlook is premised on the Eurozone’s strengthening recovery and continuing currency weakness due the ECB’s quantitative easing program. Rising consumer confidence, bolstered by an improving labor market and lower energy prices, is driving the current recovery. The European Commission’s headline Economic Sentiment Indicator was 103.5 for the euro area in June, near its highest level since 2011. Also, while industrial production peaked in April, Credit Suisse thinks strong business confidence surveys augur for a rebound in the third quarter. Then there’s the euro, which is expected to weaken further against the dollar.   The sectors that are best positioned to take advantage of the current conditions are banks, exporters and consumer-related companies, according to Credit Suisse’s Private Banking & Wealth Management Division. Exporters obviously benefit from the depreciating euro, while consumer-related companies should see a bump from rising sentiment. Meanwhile, the European Central Bank’s quantitative easing program is helping to increase profits for commercial banks by holding down bond yields and driving up prices, which is good for banks’ fixed-income portfolios. Financial institutions are also benefiting from rising consumer demand for credit.   Credit Suisse also believes current market expectations are overly pessimistic. The 12-month forward earnings per share forecast for European equities sits at the same level as it was at the height of the financial crisis. Credit Suisse believes positive earnings surprises are likely to push equity prices higher.   With the Greek situation approaching some sort of resolution, the most obvious risk to the European recovery has all but disappeared. And with Federal Reserve Chair Janet Yellen having confirmed recently that the central bank will most likely raise benchmark interest rates later this year, the euro will almost certainly depreciate further against the dollar. The case for European stocks is still a strong one.Join the conversation about this story »


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Alleged Greek $10bn plea to Putin for printing drachma not true – Kremlin — RT Business

The Kremlin has denied Greek newspaper reports that Prime Minister Alexis Tsipras had asked President Putin for $10 billion to print drachma.


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Never gonna be respectable: Jeremy, Bernie and Donald offer a real alternative

Jeremy Corbyn: the future PM? Haydn, CC BY-NC-SAThey might not like to admit it as openly as Tony Blair has, but many of the most respectable politicians in the Western world are suffering sleepless nights. Upstart candidates and parties seem to be challenging the political establishment all over the western world. In Greece, anti-austerity party Syriza now governs and its Spanish counterpart Podemos has made significant gains. In the UK, progressive candidate Jeremy Corbyn continues to shock by outpolling his centrist rivals for the Labour Party leadership. His popularity directly counters the belief that electability means moving to the increasingly conservative centre ground. Meanwhile in the US, Bernie Sanders, an avowedly socialist presidential candidate in the US, is drawing record crowds, despite having been initially dismissed as a contender. On the other side of the ideological spectrum, Donald Trump is giving his rivals are run for their money in the contest for the Republican party nomination. Relying on a toxic rhetoric of ultra nationalism, he is connecting to many voters who have lost faith in the US political process and its representatives. Donald Trump: there’s an upstart for every taste. Gage Skidmore, CC BY-SA Despite political differences, these campaigns all reveal the widespread popular dissatisfaction with so-called “respectable” politics and politicians. They highlight the desire to find something they can identify with outside the conventional and hollow bounds of political acceptability. Be serious In every election there is support for candidates who set out their stall on the fringes of the political mainstream. The sacred centre is called so for a reason – it reflects a supposed middle ground between competing radical extremes. But these candidates seem to be having far more success than most. Their popularity cannot be easily disregarded. They represent a clear and present danger to perceived frontrunners. The establishment has taken notice and gone on the offensive. As it became clear that Corbyn was a serious contender, Tony Blair emerged from political retirement to blast him and his followers. He warned that shifting back to the far left would be an ideological and electorial mistake for Labour. “People who say their heart is with Jeremy Corbyn,” he advised, “get a transplant”. US politicians are similarly disparaging towards the upstarts. To centrist Democrats, Sanders is unelectable and indirectly helping the opposition by continuing to stand against fellow Democrat, Hillary Clinton. Many Republicans are distancing themselves from Trump after his recent comments attacking John McCain’s record as a “war hero”. They remain largely quiet on his demonisation of Mexican immigrants as “rapists”, mind you. Straight and too narrow These are not merely struggles between the political centre and the extremes though. These candidates all represent a fundamental defiance of “serious” politics as a whole. They are a challenge to the established democratic political class and their “legitimate” beliefs – particularly when it comes to austerity. The eurozone crisis has, for many, turned the idea of who is and is not legitimate on its head. Germany stands accused of neoliberal authoritarianism in its support for austerity while Syriza, once seen as a group of radicals, are now seen by some as the victims of an unfair and illegitimate global order. Bernie Sanders: causing trouble for Clinton. EPA/Astrid Riecken In the same spirit, Sanders is seeking to reframe the debate entirely. He has repeatedly said that he likes and respects his opponent Hillary Clinton. What he objects to is the entire financially driven political and economic system that she appears to represent. Take or leave us This embrace of less-conventional candidates is associated with the failure of “legitimate” politicians to adequately deal with pressing problems of economic inequality, climate change and the growing power of financial capitalism – among others. Citizens are less tolerant of the politicians who find the status quo acceptable, particularly given the damage caused by their “legitimate” politics. Here, the interests and commonly extreme policies of a small elite are portrayed as “common sense” and unassailable in their correctness. But the disastrous Iraq War and the 2008 financial crisis have revealed the true cost of these “legitimate” policies and the price that will be paid for re-electing the kind of politicians who steered the world towards them. Non-respectable politics, of course, carries its own dangers. Trump is showing how an alternative voice can be manipulated in a populist politics of blame and distraction. Yet his strategies are to be found in mainstream political discourse too. Germany can justifiably blame Greeks for their debt bondage and David Cameron can shift blame for the financial crisis from bankers to poor welfare cheats. Voters are rightfully wary of acceptable politics in an unacceptable society. They have every reason to beware of extremism that masks itself as “centrist” and “legitimate”. If the time for “respectable” politicians is over – really, they asked for it. Peter Bloom does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond the academic appointment above.


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ECB raises ceiling on emergency funds for Greece ahead of bailout vote

European Central Bank hikes cap on emergency assistance by £629m as protesters take to the streets against proposed third bailoutAthens has been thrown further emergency assistance after the European Central Bank (ECB) increased liquidity for Greek lenders ahead of a crucial vote on a third bailout programme for the debt-stricken nation.While lawmakers argued over reforms set as the price of rescue loans from international creditors, the ECB’s governing council agreed to raise the cap on emergency assistance for the country’s fragile banking system by €900m (£629m) on Wednesday. Continue reading...


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Twitter Is Sorry About That Tone Deaf Frat-Themed Party It Threw

Source: www.mediaite.com - Wednesday, July 22, 2015When your industry is the subject of conversations about sexism and “bro culture” preventing women and minorities from making progress, it’s probably not the best idea to throw a party that is actually fraternity-themed . But that’s exactly what Twitter did when it threw a frat-themed happy hour for its San Francisco employees, and now it’s openly regretting the decision. Replete with beer pong, red Solo cups, a “TWΦTTΣR ΓRΛT HΘVSΣ” banner, and all the trappings of Greek boy campus culture, a female employee using the Twitter handle Global Tech Women posted a photo of the party with a few hashtags driving her point home: Silicon Valley US: @Twitter is having a #Frat party for employees. #Lovewhereyouwork #diversitymatters #brogrammers . pic.twitter.com/WkX4aHHl6g — Global Tech Women (@GlobalTechWomen) July 22, 2015 The apology came quickly, and Twitter told Fusion that given the “brogrammer” culture of the tech industry that seemingly ignores or excludes women and people of color, the choice for the theme was “ill-chosen” and “not reflective of the culture” being built at Twitter. Especially when the company is dealing with a gender discrimination lawsuit by a woman who says the promotion process favors men over women. To say nothing of its handling of harassment against women and other non-white-straight-male users occurring on their site on a regular basis. (It’s taken some steps , but it’s been very slow coming and not nearly All Related


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Greece gets another cash infusion from ECB

Ed AdamczykFRANKFURT, Germany, July 22 (UPI) -- The European Central Bank's increase of emergency assets Wednesday eased pressure on Greek banks caught in a liquidity crisis.


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Domestic tourism in Greece suffers dramatic downturn as debt crisis deepens

… current situation. The meze hour. #Greece #Evia #Kanatadika pic.twitter.com … down” The industry believes that Greeks have been traumatised over the … gone.” Our correspondent in Attiki, Greece is Symela Touchtidou she says …


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Greek Parliament president refers to … coup! Opposes bailout measures

Govt spokeswoman: Split within ruling SYRIZA party possibly 'unavoidable'


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Opinion: Why the Greek deal will work

Greek Prime Minister Alexis Tsipras reacts emotionally during the ... To express guarded optimism about the Greek deal is not to condone the ...


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Greek MPs prepare to vote on reform measures

Greek MPs on Wednesday debated two key measures demanded by creditors as a condition for starting talks on a new €86bn bailout later this week ...


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Police: Tuesday night fire at St. Nicholas Greek Orthodox Church in West Babylon being investigated

A police spokeswoman said an emergency call for a fire came in at 9:36 p.m., and officers responded to St. Nicholas Greek Orthodox Church, 200 ...


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Balkan banks avoid a dose of Greek flu

This week's reopening of Greek banks brought relief not just in that country but across a large chunk of south-east Europe. EU members Romania and ...


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The truth about Greek debt and German generosity

What we're seeing, argues Laurence Kotlikoff, is mostly theater — a Greek tragedy starring supposedly evil Germans and supposedly defenseless ...


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St. Nicholas fire could have been 'a lot worse,' says Greek Orthodox church's priest

Suffolk County's Arson Squad is investigating a fire that broke out late Tuesday, July 21, 2015, at St. Nicholas Greek Orthodox Church in West Babylon ...


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Ex-Cat Harrow signs pro deal with Greek club

Harrow signed a professional contract this week with the Greek League's Rethymno Cretan Kings, according to his former school, after earning ...


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Fire Damages Greek Orthodox Church On Long Island

Fire damage can be seen at the St. Nicholas Greek Orthodox Church in West Babylon on July 22, 2015. (credit: Sophia Hall/WCBS 880) ...


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Why the Greek Deal Will Work

LONDON – Now that Greek banks have reopened and the government has made scheduled payments to the European Central Bank and the ...


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Thousands of Refugees are Overwhelming Greek Tourist Islands

Syrian refugees risk a perilous journey before arrive at the island of Lesbos


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German tourists head for Greece in droves and aeroplanes

Angela Merkel is not the most popular individual among Greeks as we speak. However, the Greek islands are popular with German tourists and despite…


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Kremlin Denies Greece Asked Russia for Financial Aid to Print Own Currency

Greece never asked Russia for financial assistance in order to print its own currency, Kremlin spokesman Dmitry Peskov said on Wednesday, according to Sputnik. “The President has already said, and the Minister has said, and we have repeatedly said on various levels that the Greek side and the Greek authorities did not approach Russia for help,” Peskov


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Greek public debt remains the highest in the EU in the first quarter of 2015

#economy


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Greek Foreign Minister Speaks About The Importance of Greek Diaspora

Greek Foreign Minister Nikos Kotzias addressed the 10th World Panhellenic Inter-Parliamentary Association (WHIA) convention on Tuesday, where he discussed the role of the Greek Diaspora in Greece’s well-being. The WHIA is staffed by people of the Greek Diaspora who are elected legislature members in non-Greek speaking countries. “Without the Diaspora, we are a handicapped state. Without our state, you are no longer a


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The Tragicomedy Performed at the Greek Parliament

Watching lawmakers in the Greek parliament speak about the required reforms they have to vote for in order for Greece to start negotiations for the third bailout package is like watching an absurd tragicomedy. It would have been hilarious if it was performed at a time of normality. Unfortunately, it is more of a tragedy because


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Welcome to Mykonos, Where the Greece Crisis Seems Far Away

MYKONOS -- The legends of Mykonos begin with tales of seduction and oblivion. The island of Ithaca, Cavafy told us in his famous poem, is more than a destination; it is a state of mind. Mykonos has come to symbolize much more than Ithaca ever meant to poets and travelers alike; since the 1950s, it has been a paradisiacal escape, a kingdom for all the barefoot kings and nowadays, a stronghold of opportunity and affluence in a bankrupt country. There are as many lost treasures as bones buried under the streets of this greedy island that has enticed armies, pirates, moguls and tourists alike from the time of the poets to the days of Aristotle Onassis and, most recently, Starbucks. People have flocked here since ancient times to enjoy or cash in on the hedonistic promises of an island that became synonymous with beauty, pleasure and profit. Appropriately, one of the most popular beaches here is called Super Paradise. Today, there are many names for this paradise: Manhattan of the Aegean, Isla Bonita, Rock of the Giants, island of the winds, Diva of the Aegean. While the rest of Greece is suffering the worst depression since WWII, Mykonos remains a solid castle of prosperity, a trillion-euro-private-investment that blinks from afar like the most expensive jewel of the Mediterranean: stunning villas designed by starchitects, glitzy fashion superstores, sophisticated galleries, luxurious hotels and countless A-list restaurants that surpass in service, style and prices any establishments in the rest of Greece. These days, some liken Mykonos to a modern day Pompeii -- a city of excess about to be swept away by the detritus of ash and pumice released from the volcanic explosion of the Greek economy. But, I assure you, this won't happen; if this island enticed to death parades of Persians and, later, Arabs, Venetians and Turks, it can afford to deal with the harsh austerity that plagues the rest of the country. "We are producing our own wealth," a local businessman tells me. "We are a hard-working money-making-minded people that have survived many hardships. Our drive and our dream are more American than European. If Mykonos ever gained independence from the rest of Greece, it would be one of the richest microstates on the globe." "It has helped to put Greece back on the map again," the Guardian noted. "Visitors have signaled greater overall satisfaction with Mykonos than Ibiza, Sardinia or St. Tropez -- its main competitors." "It has helped to put Greece back on the map again." Despite Greece's worsening economic odyssey this summer, Mykonos' cashiers are filling: hotels and villas are full; during the summer months, its small airport is one of the busiest in Europe. Not surprisingly, the night of June 27, when the rest of Greece was afire with uncertainty about the referendum just called by Prime Minister Alexis Tsipras, the town of Mykonos glittered under an umbrella of fireworks. It was Saturday night, and the main news celebrated on the island was the American Supreme Court's decision in favor of gay marriage. Of course, gays were getting "married" on Mykonos long before any Supreme Court's decision back when homophobia reigned in the rest of the globe. During the 1960s and 1970s, gays came here to feel free and celebrate make-believe weddings outside the legendary Pierro's bar where races and classes mingled and bodies swung when the music played. The Greek Dolce Vita began on Mykonos and, as a local historian once put it, it grew into something "more Felliniesque than a Fellini film." That was the time that it was a shame not to be gay on Mykonos and Swinging Mykonos, as much as London, emerged as a pleasant aftershock of May 1968. "The secret of the Mykonian success is tolerance," Anna Kousathana tells me. "Mykonos became an international paradise because of that. Provinciality was never part of the Mykonian mindset. I remember back in the late 1960s, there was a policeman here who was very strict with the tourists, especially women. He would stop them if they wore shorts and admonish them, 'What is that? Go and change!' Before he knew it, he was fired by the local authorities! People here never tolerated such closed-mindedness." "The secret of the Mykonian success is tolerance." Princess Soraya used to stay at Anna's grandfather's house and, as Anna recalled to me, "no one ever bothered with her affairs; people never call the paparazzis here, they mind their own business." Anna, who once worked with her late husband in the American-owned mines of Mykonos, long shut now, has seen both sides of the Mykonian coin. "This island is a place of extremes. It has known extreme poverty and excessive wealth but it has never lost its humor or its beauty. Beauty speaks for itself." Before the age of tourism, Mykonos was so poor that its men had to take to the seas to support the families they left behind. Until one day in the early 1960s, when the boat of a Greek god approached from the West. It was not Poseidon. It was Onassis, who counted more than the 12 other gods together. With the arrival of "Christina," Onassis' famous yacht, Mykonos entered the orbit of a brilliant fate. Ari brought with him his Olympian crowd -- his future wife Jackie Kennedy, divine mistress Maria Kallas and good friend Liz Taylor -- that turned this paradise into a glamor mecca. The rest is history and part of this history is the resilient ambition of the middle-class Greek to become Onassis and spend it at Katrin's, the restaurant that the mogul frequented on the island. That's how Mykonos in the 1990s, a time of global economic boom, became the West Egg of Eurogreece, a playground of the nouveau riche Athenian masters of the universe who came to the Manhattan of the Aegean to build Gatsby-esque mansions and to reenact a Greek version of The Bonfire of the Vanities. As Tom Wolfe might put it: The excess! The insolence! The bloody long cigars! The manicured Filipino maids! If the rich are different than you and I, as Nick Carraway famously pondered in The Great Gatsby, this breed of wannabe Athenian master shouted his wealth louder than the wind. The ancients had a word for immodesty: hubris. The Mykonian expression of immodest riches accelerated so fast that when it derailed, entire fortunes had gone with the wind. The Gilded Age of Mykonos came to an end about five years ago when the Greek Gatsbies went down in their own pool of debt, vanity and deception. Ironically, the island has been doing even better without them. Despite the Greek crisis, real estate is booming on Mykonos. A Greek businessman had to sell his large villa on the island recently to pay off his immense tax debts and received a handsome 5 million euros for it. "Mykonos functions autonomously like an independent principality," confirms Francesca Kalamara, a thriving Mykonian real estate agent, said to me. "Ten years ago, we dealt exclusively with wealthy Greeks, and we snubbed the foreigners. Now, unfortunately, we do the opposite. The Greeks only want to sell to get rid of high taxation. Our main buyers now are Lebanese, Israelis, French and Greek Americans, and the prices we sell are competitive if not higher than places like the Hamptons or the south of France, when in the rest of Greece nothing moves." "If you can make it here, chances are you can make it anywhere." And yet, the island remains a haven of opportunity for the Greeks who want to do business here and cater to a global clientele. Penny Vomva, a young Athenian designer with stores on Mykonos and in Athens told me that, "By far, Mykonos is not only more profitable than Athens, but also a showcase that earns you a world reputation. If you can make it here, chances are you can make it anywhere." "No doubt there is no other place like Mykonos in Greece in terms of influence and exposure," Greek-born, New York-based artist Lydia Venieri, who is the creator of Mykonos Biennale, an international symposium of art and philosophy, said to me. "Everybody likes to speak about the power of money these days on Mykonos, but we forget that this place is also about energy, history, tradition and beauty," Venieri added. "That's why this year's biennale is titled 'Antidote.' We all need a portion of it." The paradox that -- as Greece goes down, Mykonos goes up -- is explained by the tenacity of private initiative against the odds of a dysfunctional state. The shabby state services and poor local politics of the island still reflect the failures that led Greece to the edge of the precipice. Two former mayors of Mykonos are accused of corruption (their cases are still pending), while the new one has disappointed even his most ardent supporters with his inaction. An Athenian owner of a villa complained to me that "Mykonos is the place with some of the most expensive houses in the world; yet if your house is on fire, you mind as well forget about it. The fire department is nonexistent here, and the mayor is still thinking about it." (The mayor never responded to my requests for an interview.) It's not just the fire department. The state-run airport is so rundown that a hole in the tarmac withheld tens of flights the other day. On a recent visit to the Mykonos tax office, one of the most crucial of the nation in terms of incoming tax revenue, I encountered lines of exasperated taxpayers queuing for hours to be serviced by an understaffed bureau. "We were tired of the 1990s excess." "The miracle of Mykonos is all a result of a private effort; any serious businesses here always knew not to count on any state support," says Michalis Sigounas over lunch. Seven years ago, Sigounas and his partner, the German-born Carsten Stehr, opened a small bar at the edge of the port where the waves splash and water sprays people's faces. "People feel free here," he adds. "We were tired of the 1990s excess. The Pierro's culture was done, and we decided to launch a new bar in 2008 which was the beginning of yet another crisis. We did surprisingly well." "This season is even better than last year," admits Stehr. "But we deal with the difficulties like everybody else. So far, we have managed. We are trying not to panic because it all starts with panic, and before you know it, the flights stop coming. Mykonos is resilient to all sorts of crises. Mykonians used to be the poorest Greeks, they worked hard for their riches, and they don't want to ever be poor like their grandfathers." All around us, happy patrons lounged and danced against the golden sky and blue sea. "That's what we offer, a good life, and it is our responsibility to keep people happy," he continued. The DJ pumps up the volume while the crowd goes mad over J.Lo's appropriate anthem -- "I wanna dance and love and dance again!" Stehr has to raise his voice. "Even though it looks easy, it is not," he adds. "There is no free money. Anything that stands here, it has been earned." -- 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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Draft bill on prior actions passed by Greek Parliament committees

#politics


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Greece's television landscape will change as of autumn, Minister says

#politics


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Remains of Alexander the Great's father finally found after historians looked in the wrong tomb

By examining dusty bones pulled from the bottom of an ancient tomb, researchers say they've identified the remains of King Philip II of Macedon, the father of Alexander the Great, in a tomb in Vergina, Greece, along with his wife and a child.


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Germany and Greece need a mediator

Athens and Berlin are so outraged with each other that they need to calm down before any kind of resolution can become possible. Is counselling the answer?Political Berlin feels emotional right now. A high-level German politician put it this way to me recently: “It’s like a whole hysteria going on here. The Berlin political world is emotional all the time. It has to stop, but I don’t know how. The anger is on the left, it’s on the right.” The economist Jacob Soll touched on this outpouring of emotion as it relates to Greece in a column in the New York Times last week, and his conclusion is that Germans must regain their cool if they want to lead Europe.He is right, but he is skipping a step. Germans cannot regain their cool until they reduce the outrage they feel towards Greece, which they perceive as the guilty partner in their eurozone marriage. To do this, both nations must engage an impartial, outside mediator to help them mitigate the outrage they feel towards each other. In a structured, therapy-like setting, relevant policymakers from both sides would then finally be able to sit together and create a shared vision to wrest Greece from its economic depression. Continue reading...


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Europe’s controversial approach to deal with migrants

The European interior ministers failed on July 20 to agree on how to relocate 40,000 refugees who arrived in Italy and Greece. So far only the redistribution of about 32,000 people has been settled. The behavior of some EU countries shows a lack of solidarity not only within Europe, but also with the rest of […]


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Into The Economic Abyss: Foolish Europeans Give Irresponsible Greeks Third Bailout

… crisis is inevitable, with possible Greek exit (“Grexit”) from the Eurozone … .” However, equalizing exchange rates cemented Greece’s lack of international competitiveness … creditors. Economic growth lagged and Greece’s financial woes increased. Impasse …


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Third richest man in the world denies buying a Greek island

… report that appeared in a Greek newspaper over the weekend that … making the claims about the Greek Island," he told Reuters … will sell an island in Greece to Mr. Buffet sooner or …


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Woman intercepted at border post trying to smuggle out 23K euros into … Albania

Greek national said she feared possible 'haircut' or even ... confiscation


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ECB Raises Emergency Lending to Greek Banks by $984 Million

The European Central Bank raised the ceiling on emergency lending to Greek banks by $984 million, bringing the total amount lent to Greek banks to nearly $100 billion.


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Minister in Germany Discusses Greece Role

It was the first time that Finance Minister Wolfgang Schäuble had mentioned resignation in the debate over Greece’s debt. He has taken a harder line toward Greece than Chancellor Angela Merkel.


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Greece gets new liquidity boost ahead of key reform vote

ATHENS, Greece (AP) — Greece's liquidity-starved banks got a new cash injection from the European Central Bank on Wednesday, hours before a key vote in parliament on further economic reforms demanded by international creditors in return for a third bailout.


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European Commission President: Fear Made Agreement With Greece Possible

In an interview with the Belgian newspaper Le Soir that was published on Wednesday, European Commission President Jean Claude Juncker appeared concerned over the state of the European project. Juncker argued that Greece should not feel humiliated with the outcome of the Brussels negotiations of July 13 because the European Commission did what it could to normalize the situation. “It is fear that


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ECB Raises ELA Cap for Greek Banks by €900 Mln

According to reports, the European Central Bank (ECB) Governing Council decided on Wednesday to raise Emergency Liquidity Assistance (ELA) to Greek banks by another 900 million euros. The ECB had raised the ELA cap by the same amount a week ago. If the reports are accurate, the ELA cap for Greek banks will now be around 90.4 billion euros.


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Russians’ Lavish Holiday Spending in Greece Belongs to The Past

Fewer and fewer Russian tourists search for their ideal summer vacation in Greece, according to recent data released by search engine Yandex.Travel. Russian users usually visit Yandex.Travel to search for their favorite travel destinations, compare prices and then make their purchases through third-party sites. Greece, Spain and Italy used to be among their top choices. This summer, though, the rising


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Eurostat: Greek Govt Debt Decreased to 168.8% of GDP

The highest government debt to GDP ratios in the Eurozone were recorded in Greece (168.8%), Italy (135.1%) and Portugal (129.6%), according to a recent Eurostat news release for the first quarter of 2015. However, the Greek government debt also recorded the highest decrease compared to the first quarter of 2014, dropping by 5.5%. Overall, during the first


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Greek Justice Minister: I Partly Disagree with Changes in the Code of Civil Procedure

Greek Justice Minister Nikos Paraskevopoulos admitted that he partly disagrees with some of the changes in the Code of Civil Procedure that he is calling the Greek Parliament to vote in favor of today. Paraskevopoulos addressed the Parliamentary Committees assessing the set of prior actions that will be voted on in parliament later in the evening. One


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Greek start-ups’ staying power tested

Financial crisis has left entrepreneurs either giving up, leaving the country, or praying for change


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Greece moves ahead on bailout reform votes, but will Tsipras pay the price?

On the streets of Athens, Greeks are taking a long breath after the daily uncertainties and worries of the last few weeks, when for a while it appeared increasingly likely that their country could drop out of the euro zone. Recommended: Think you know Europe? While passage of the tough austerity measures demanded by the country’s international creditors in exchange for another round of financial bailouts appears likely, the toll for that passage may come at the cost of Mr. Tsipras' government.


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Greek MP’s Debate More Austerity

Greek lawmakers are to vote July 22 on further economic reforms demanded by international creditors in return for a new financial bailout. The post Greek MP’s Debate More Austerity appeared first on The National Herald.


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ECB gives Greece more emergency cash

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Greece to show what happens when a stock market isn’t a market – Bloomberg

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Alexis Tsipras and His Syriza Party Clash as Greece Faces Another Deadline

Parliament must approve a package of financial and judicial changes before midnight to keep negotiations on track for the bailout of about $94 billion.


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On reform, Europe asks Greece to go where many fear to tread

"Francois Hollande is very good at telling others how to do their reforms," opposition French conservative Xavier Bertrand said in a dig at France's Socialist leader, a key broker in the Greek accord clinched on July 13 after all-night Brussels talks.


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Alexis Tsipras, Greek Prime Minister, Sheds His Identity as a Radical

The left-wing prime minister has moved toward the mainstream while trying to find a liberal way to carry out the austerity measures he once opposed.


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Greece crisis: Tsipras takes on Syriza critics before vote

Greece's prime minister has taken on critics in his Syriza party ahead of another crucial vote on reforms. Alexis Tsipras attacked rebel MPs who opposed an agreement with creditors, accusing them of "hiding behind the safety of my signature". MPs need to ...


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Greece to Show What Happens When a Stock Market Isn’t a Market

… For more Greece news and data, click here.) Greek officials setting the … in Greece, told reporters on Tuesday. Like so much of Greece’s … . Representatives of the Bank of Greece, the Hellenic Capital Market Commission …


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