How the world sees Greece
Vienna said it projected the costs of hosting 11,000 refugees compared to the nearly 90,000 it accepted in 2015. The request comes as both Hungary and Austria step up rhetoric against Greece regarding asylum seekers.
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ATHENS, Greece (AP) — Panathinaikos was dealt another blow to its dwindling hopes of winning the Greek league when it lost to Xanthi 1-0 on Saturday.
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The GREEK Commissioner also said: "The refugee crisis is a complex and multifaceted issue. We will not solve the problems by simply pushing a magic ...
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As part of its activities, the English-language book club Xynistereads will continue to be held at the Write CY premises, along with the GREEK-language ...
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TEHRAN, Feb. 06 (MNA) – GREEK PM Tsipras is to land in Tehran within the next few hours to meet with senior Iranian officials and ease the way for ...
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Pittsburgh-based Oilio, an importer of the best quality GREEK extra virgin olive oil has launched a campaign, together with The Pappas Post, to offer ...
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Turkish media say police have raided three factories producing unlicensed and poor-quality inflatable boats used to smuggle migrants to GREECE.
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… from Germany, Austria, Hungary and Greece. After the informal meeting, EU …
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[Colosseum, Rome]Shutterstock.com When I write about the demise of unsustainable systems, readers often ask me to describe the collapse I see as inevitable. This is a tough assignment, as there are as many kinds of collapse as there are systems: fragile ones can collapse suddenly, and resilient ones can decay for years or even decades before finally imploding or withering away. Another way of describing collapse is: complex systems become much less complex. Certain features of modern life could collapse without affecting everyday life much–for example, the derivatives markets could stop working and the impact would be enormous on those playing financial games and those who entrusted money to the gamblers, but the consequences would be extremely concentrated in the gambler/speculator class. Despite the usual cries that financial losses in the gambler/speculator class will destroy civilization, the disruptions and losses would be widely dispersed for the economy as a whole. Other collapses–in food or energy distribution, digital communications, etc.–would have immediate and severe impacts on daily life. My three primary models of decay and collapse are: 1. Historian David Hackett Fischer’s masterwork The Great Wave: Price Revolutions and the Rhythm of History (given to me by longtime correspondent Cheryl A.) 2. Thomas Homer-Dixon’s The Upside of Down: Catastrophe, Creativity, and the Renewal of Civilization 3. The decline of the Western Roman Empire (the process, not Edward Gibbon’s epic 6-volume history). My recommended book on the topic (a short read): The Fall of the Roman Empire Fischer’s primary thesis is that society and the economy expand in times of plentiful resources and credit, and this increased demand eventually consumes all available resources. When demand exceeds supply and excesses of credit reach extremes, inflation and social disorder arise together. Though we have yet to see inflation on a global scale, it is inescapable that demand will soon outstrip supply of essential resources and that the global credit bubble will pop, depriving the economy of the means to buy resources regardless of cost. The Upside of Down describes the process of increasing complexity adding fixed costs to the system, and the way in which this diminishes returns: more and more labor, capital and resources must be devoted to maintain production. At some point, the yield is negative–costs are higher than the output. At that point, systems start unraveling, and people simply abandon costly complex systems because the means to support them no are no longer readily available. This is similar to John Michael Greer’s process of catabolic collapse, in which costly complex systems go through a re-set to a much lower energy consumption and less complexity. The system stabilizes at that level for a time, and then as costs rise and resources dwindle, it goes through another downsizing. The Western Roman Empire (along with the Tang Dynasty in China) is the premier historical template for slow decline/decay leading to an eventual collapse. (Recall that the Eastern Roman Empire, the Byzantine Empire, endured for another 1,000 years.) [Tourists stand near the temple of Parthenon atop the ancient site of the Athens Acropolis on a cold and windy day January 30, 2015. Greece will refuse the planned return of European Union and International Monetary Fund inspectors to the country since the new government rejects the 240-billion-euro bailout programme, a government official told Reuters on Friday. REUTERS/Yannis Behrakis (GREECE - Tags: BUSINESS POLITICS TRAVEL)]Shutterstock.com Depending on how you slice it, Western Rome’s Imperial decline took a few hundred years to play out. Unusually competent and energetic leaders arose at critical junctures in the early stages, and these leaders managed to stem the encroachment of other empires and “barbarian” forces and effectively re-order Rome’s dwindling resources. By the end, The Western Roman Empire was still issuing a flood of edicts to the various regions, but there was no one left to follow the edicts or enforce them: the Roman legions existed only on parchment. The legion had a name and a structure, but there were no longer any soldiers in the field. A number of real-world examples of decline/collapse are playing out in real time. Venezuela is one; Greece is another. Both demonstrate the opacity of the process of collapse; it is not as clear as we might imagine. A recent first-hand account of a sympathetic visitor to Venzuela captures the flavor and despair of slow-moving, uneven collapse: Venezuela: Is There A Driver At The Wheel? (via Arshad A.) “A dollar traded in the bank officially, or pulled out of an ATM machine, however, is worth about six bolivars only. This is how big the gap is between the black market rate (600-700 to the USD) and the official rate. Despite the fact that the price of petrol is incredibly cheap, the government has not raised the prices even a slight amount, although this would create revenue for the state and despite the health risks of pollution.This suggests that the government is engaging in populism by refusing to take a step demanded by common sense due to its need to get reelected in December when parliamentary elections will take place. One can easily get assassinated, as Venezuela has one of the highest homicide rates in Latin America and there are enough people who would not mind killing someone for the fee of $200. However, when there is massive violence in the streets and many in the government seem to be corrupt, while a sense of anarchy prevails and it seems that the government turns a blind eye to violence when it takes place by local bandits, preferring to continuously blame outsiders, then there is indeed a source for concern.” Reports out of Greece demonstrate the dynamics of decline and collapse:medicines are unavailable, pensions have been slashed and many households are now below the EU poverty level in income. But we also hear that life goes on; the social order does not appear to have broken down into anarchy. Clearly, the Greek economy has contracted, and millions of households have less income than they did before. But has daily life broken down? Have the institutions of public order collapsed? Perhaps not, but what is collapsing is public trust in these institutions’ ability and willingness to manage the financial crisis and the political disorder that follows. There is no good solution to the multiple crises in Greece, and the small circle of financial and political elites that benefited from Greece’s entry into the Eurozone remains largely untouched by the crisis. When the status quo is rigid and unbending, the odds of sudden collapse rise: what doesn’t bend will snap. [greece riot police protest fire bomb]Shutterstock.com The process of collapse is thus heavily dependent on how the financial and political elites respond to the decline of resources and credit. If they manage the contraction skillfully and absorb their share of the inevitable losses, then the re-set will likely be successful and the pain short-lived. If however the ruling elites cling to every scrap of their power and wealth, and begin fighting over the spoils while forcing the underclasses to absorb the losses of the re-set, then the fragility of the system rises in direct proportion to the policy extremes being pursued by vested interests focused on protecting their privileges regardless of cost. The ultimate cost of protecting the privileges of the few at the expense of the many is the dissolution of the social order that enabled the rule of the privileged few. NOW WATCH: Chipotle will be giving out more free food to win back customers
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[Austrian Chancellor Faymann attends a session of the parliament in Vienna]Austria will extend its border controls if Turkey does not take back refugees picked up at sea on their way to Greece, Chancellor Werner Faymann said in an interview with the daily Oesterreich, being published on Sunday. Austria is set to introduce a new border management system at Spielfeld, a key crossing point on its south-eastern border with Slovenia, which aims at speeding up applications and making the country less attractive to asylum seekers. More such border management facilities on other routes may be needed if Turkey does not respond to his proposal, the chancellor was quoted as saying.
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With GREECE unable to control the thousands of migrants making the crossing from Turkey, some EU nations are now looking to help non-member ...
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As the first EU country on the route from Turkey, GREECE -- still reeling from debt and recession -- says it is doing all it can to house and register ...
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Is a laptop depicted in a carved-out gravestone from ancient Greece? Some have raised the possibility that it is, indeed, a computer from the future. The artifact in question is a 2,100-year-old funerary piece at the J. Paul Getty Museum which shows a ...
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For us here in Britain, the refugee crisis is a distant problem. Newspapers every day have another story about the crisis, another photograph of refugees arriving on the Greek islands from the Middle East. Although these stories and photographs are ...
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COSCO is also among the investors expected to bid for the development and operation of a 250 million euro GREEK freight centre with access to the ...
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Earlier this week, the EU said GREECE had to re-establish full control over its border with Turkey to preserve the Schengen zone. If GREECE failed to do ...
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Athens, February 6, 2016/Independent Balkan News Agency By Spiros Sideris Auspiciously with respect to the strategic energy alliance between Greece and Azerbaijan departed from Baku the Greek Foreign Minister Nikos Kotzias, after a two-day official visit. According to Sofia Aravopoulou (AMNA), both sides admit that the visit, which was held at the invitation of Azerbaijani […]
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The Panthers gave the CA graduate his NFL chance, but he also was a teammate of Peyton Manning. email · print. Comment. By Bob Chavez. GREECE ...
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Ghana international Michael Essien says he is not in GREECE for holidays and wants to help Panathinaikos win titles. Essien has looked refreshed in ...
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THESSALONIKI, Greece - Greek farmers protesting against pension reforms … compromise efforts by the government. Greek Cretan farmer lowers the EU … 200 freight trucks to enter Greece. Tsipras' government has announced …
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This increase in tax revenue has mostly been attributed to the ENFIA tax, income tax and road tax. The General Secretariat of Public Revenue has ...
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Athens, February 6, 2016/Independent Balkan News Agency By Spiros Sideris Greek Prime Minister’s Alexis Tsipras visit to Iran is confirmation of the multidimensional and active foreign policy of the Greek Government. At the head of a numerous delegation A. Tsipras departs Saturday for Tehran, where Sunday and Monday he will hold important talks on bilateral […]
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[Migrants wait to cross the Macedonia-Serbia border near the village of Tabanovce, northern Macedonia, on February 4, 2016]Austria and Hungary on Saturday warned that if Greece cannot control the flood of refugees arriving from Turkey then the EU should consider reinforcing the borders of their Balkan neighbours.
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We're closing in on the 100th episode of Once Upon a Time, and everyone is asking the same thing: will Emma succeed in getting Hook out of the ...
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He's the Huddersfield hero who was so moved by the refugee crisis that he travelled to Greece to help. But instead of handing out food parcels to ...
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A GREEK flag stretches across a tractor as farmers block the border between Greece and Turkey in Kipoi, northeastern Greece, shutting down ...
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Balme game in Migration crisis? Greece strikes back. The office of Greek Prime Minister Alexis Tsipras named four East European countries and accused them of “xenophobic and far-right rhetoric.” Poland, Hungary, Slovakia and the Czech Republic are the countries that trying to develop a different EU policy and and put […]
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[A migrant pushes a wheelbarrow in a muddy field at a camp of makeshift shelters called the Grande Synthe jungle, near Calais]By Robin Emmott AMSTERDAM (Reuters) - Europe needs Turkey to dramatically cut the number of migrants reaching Greece within weeks or the pressure for more border closures and fences will grow, the EU's top official in charge of ties with Ankara warned on Saturday. Frustrated that refugees continue to stream into Greece despite a Nov. 29 deal between Ankara and Brussels to slow down the flows, European Commissioner Johannes Hahn said Turkey must show results by the time EU leaders meet for a Feb. 18-19 summit. "This action plan was agreed more than two months ago and we are still not seeing a significant decline in the number of migrants," Hahn, the EU's enlargement commissioner, told Reuters after an EU foreign ministers' meeting in Amsterdam attended by Turkey's foreign minister, Mevlut Cavusoglu.
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The interest rate spread between loan and deposit rates increased by 19 basis points to 4.53 pct in December, the Bank of GREECE announced.
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[Refugees and migrants disembark from the passenger ferry Blue Star arriving from the islands of Lesbos and Chios at the port of Piraeus in Athens January 23, 2016]Austria wants the EU's border agency Frontex to send directly back to Turkey the migrants it picks trying to reach Greece, media on Saturday quoted Chancellor Werner Faymann as saying.
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EU foreign policy chief Federica Mogherini says "the support that the EU is providing to Turkey, among others, is aimed exactly at guaranteeing" that Ankara can protect and host people that are seeking asylum. Turkish Foreign Minister Mevlut Cavusoglu said the government was keeping "this open border policy for these people fleeing from the aggression of the regime as well as air strikes of Russia." A senior government official says Turkey is caring for some 30-35,000 displaced Syrians on the Syrian side of the border and has no immediate plans to let them in. Turkey kept its Oncupinar border crossing, opposite Syria's Bab al-Salam, closed for a second day Saturday and aid workers said the refugees were being directed to displaced people's camps near the border. Interior Ministry spokeswoman Ilze Petersone-Godmane says the two families of two adults and one child each "have expressed willingness to learn Latvian and integrate" in this Baltic country of nearly 2 million inhabitants. German Chancellor Angela Merkel says giving refuge to Iraqis and Syrians is part of her country's effort to counter the Islamic State group. Turkish media say police have raided three factories producing unlicensed and poor-quality inflatable boats used to smuggle migrants to Greece. The state-run Anadolu Agency said Saturday police seized 49 boats in the simultaneous raids in the Aegean coastal city of Izmir a day earlier. According to the private Dogan news agency, they faced administrative action that could lead to the closing the factories.
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On a laptop, one can learn that the ancient Greeks made advances in cartography, formed the basis of geometry and modern philosophy, created a concept of democracy and changed the practice of medicine. But were the Greeks skyping Hermes on their Dell laptops?
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In one fell swoop, an expert in ancient Greek sculpture has debunked an Internet conspiracy theory that argues a statue depicts a figure holding a laptop, thereby offering proof of time travel. And Janet Burnett Grossman didn’t brush off the theory by ...
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[Angela Merkel]REUTERS/Michaela Rehle The great British geographer Halford Mackinder invented the term “geopolitics” over 100 years ago. He painted a grand vision of international relations that revolved around one fear: dominance of what he called the “Heartland” of Eurasia. Mackinder believed the road to dominance ran through Eastern Europe. His ideas have remained influential ever since, for as long as the West has concerned itself about the impact of Eurasia on world affairs. For two decades after the end of the Cold War, the old Warsaw Pact nations rushed to link up with the European Union and NATO. Arguably the chief beneficiary of this push for Europe has been Germany. Germany became the indispensable actor in Europe, due to its critical role both in the establishment of the eurozone and as the dominant player in the EU’s response to the Global Financial Crisis. Meanwhile, traditional Western players are looking away from Europe. America’s pivot to Asia and the United Kingdom’s upcoming ‘Brexit’ referendum have given Germany something its generals never could: hegemony on the continent. Yet Germany is a flawed regional hegemon. A few short years ago, then-Polish foreign minister Radoslaw Sikorski surprised many by suggesting that he was more fearful of German inaction than German action. Germany’s austerity-based economic model has limited the options of policymakers in tackling the eurozone crisis. What’s the result? German policy creates surpluses in the trade and current accounts and asks its partners to run deficits. Also telling, Finland has supplanted Greece as the European laggard in GDP growth. German Chancellor Angela Merkel may be among the most impressive leaders of our generation, but she has not delivered prosperity or safety. Since German leadership has not guaranteed prosperity in the EU, German leadership now finds itself unwelcome in Eastern Europe. This year, geopolitics is back with a vengeance around the world. But compared to events in the Middle East or East Asia, Eastern Europe’s re-emergence as a geopolitical battleground remains underappreciated. It’s not just about Ukraine. Viktor Orban’s Hungary has traveled an illiberal path for six years. Romania and Moldova have been crippled by civic protest. Upstart populists control a third of the Czech parliament. [Warsaw, Poland]REUTERS/Michaela RehleThe biggest prize is Poland. Poland was a key supporter of the European Union's economic and geopolitical consensus for more than a decade, and previous Polish governments have nurtured productive ties to their German counterparts. Now the new PiS government, under Prime Minister Beata Szydlo and party leader Jaroslaw Kaczynski, figures to be one of Brussels’ biggest critics, with Berlin portrayed as a prime antagonist. PiS has also halted Poland’s track to finally join the single currency. PiS was in government almost ten years ago and, in terms of economic policy; its bark was worse than its bite. During that period (2005-2007), Polish equities and the zloty were both strong performers in EM. This time is different. Now that EM is a threatened asset class on a global basis, the Polish government has little margin for error. Analysts have focused on the government’s plans for deficit spending and bank taxes. Investors have been quick to sell under these conditions of uncertainty, and the WIG Polish market index is already down more than 10% over the past twelve months. These developments come five years after the nadir of the European crisis, reminding investors that politics always lags the economics. To some extent, this radicalism we see on the European periphery was just a preview of the rising eurosceptic and populist sentiments in the core eurozone economies. Geopolitical change can be the result of economics as much as its driver. So what does the stumbling of German hegemony mean for markets? The main driver of the euro is the divergence of monetary policy between the Federal Reserve and the European Central Bank. On one side of the Atlantic, The Fed has just begun what appears to be a limited and gradual rate hike cycle that will take policy from super-accommodative to very accommodative, since the Fed funds target is unlikely to surpass core CPI (2.1% today). On the other, the ECB’s policy un-orthodoxy does not yet appear to have peaked. In our view, Germany’s inability or unwillingness to win the hearts and minds in the Heartland of Eastern Europe warns of continued underperformance even after monetary policy eventually converges. At the very least, there will be no further adoption of the single currency in Eastern Europe for well into the next decade. Long-term investors must begin thinking about a post- Merkel Germany and a post-Draghi ECB. Neither prospect seems particularly enticing for investors. Perhaps Germany is like a dog that chases a car. When it finally catches it, it doesn’t know what to do. _MARC CHANDLER IS THE GLOBAL HEAD OF CURRENCY STRATEGY FOR BROWN BROTHERS HARRIMAN. MATT DABROWSKI IS A POLITICAL RISK CONSULTANT AND WAS CITIGROUP’S POLITICAL ANALYST IN NEW YORK._ _This publication is provided by Brown Brothers Harriman & Co. and its subsidiaries ("BBH") to recipients, who are classified as Professional Clients or Eligible Counterparties if in the European Economic Area ("EEA"), solely for informational purposes. This does not constitute legal, tax or investment advice and is not intended as an offer to sell or a solicitation to buy securities or investment products. Any reference to tax matters is not intended to be used, and may not be used, for purposes of avoiding penalties under the U.S. Internal Revenue Code or for promotion, marketing or recommendation to third parties. This information has been obtained from sources believed to be reliable that are available upon request. This material does not comprise an offer of services. Any opinions expressed are subject to change without notice. Unauthorized use or distribution without the prior written permission of BBH is prohibited. This publication is approved for distribution in member states of the EEA by Brown Brothers Harriman Investor Services Limited, authorized and regulated by the Financial Conduct Authority (FCA). BBH is a service mark of Brown Brothers Harriman & Co., registered in the United States and other countries. © Brown Brothers Harriman & Co. 2016. All_ rights reserved. January 28, 2016. IS-2016-01-28-1543. NOW WATCH: Watch Trump go head-to-head with a reporter and attack Megyn Kelly for being a ‘lightweight reporter’
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… to their families from the Greek capital Athens. The migrants were … for them in Turkey and Greece continues.
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DiEM25, the movement due to be launched by former Greek Finance Minister Yanis Varoufakis, is set to look for allies in Bulgaria, a civic activist said on Saturday. "I really think so," Lorenzo Marsilli replied when asked in an interview with the Bulgarian ...
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Thessaloniki. Greek farmers protesting against pension reforms heightened highway and border protests around the country on Saturday, piling pressure on the leftist government of Prime Minister Alexis Tsipras, AFP reported. Farmers in Thessaly began a one ...
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A statue showing a young girl holding up what appears to be a laptop – complete with USB ports – has sparked a frenzy among conspiracy theorists. The statue, ‘Grave Naiskos of an Enthroned Woman with an Attendant’ is in The J. Paul Getty Museum ...
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It was a hard life, but he stuck at it and many years later he became a shipping magnate — and bought a great swathe of land around Navarino Bay in ...
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[An African migrant tries to come back the shore after failing to board a boat to the Greek island of Kos on early August 16, 2015 off the shore of Bodrum, southwest Turkey]Turkish police seized almost 50 unsafe boats destined for migrants wanting to cross the Aegean Sea to Greece, in the latest crackdown on businesses exploiting refugees in western Turkey, reports said Saturday.
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Giannis Panagiotakis, a hydroponics guru in Greece, has the method to produce vegetables and fruit without soil. The 30-year-old Greek studied at the Department of Applied Mathematics at the University of Crete, however his studies did not stop him from creating Urban Hydroponics, an innovative urban culture system. What makes Urban Hydroponics unique, is the
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Talks that began this week between Greek authorities and the representatives of institutional creditors on a review of Greece’s programme were “constructive,” European Commission Vice-President Valdis Dombrovskis said in a press conference. He noted that there was progress on “all the relevant items” that are necessary to successfully conclude the review, including pension reform and
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AMSTERDAM — The Latest on the movement of refugees from the Middle East and elsewhere to Europe (all times local): 11:40 a.m. Turkish media say police have raided three factories producing unlicensed and poor-quality inflatable boats used to smuggle ...
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kos-episodes Tension broke at a military camp on the island of Kos, where GREEK authorities are preparing to establish a refugee hot spot. According ...
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The Zika virus in Latin America, protests in Greece, Curiosity on Mars, the earthquake in Taiwan – the best photography in news, culture and sport from around the world this week Continue reading...
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Greek media owner Nikos Chatzinikolaou said that he will contest for a television channel license in Turkey in response to a Turkish media owner who claims to get a similar license in Greece. Chatzinikolaou announced his decision during his radio show on ...
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[German Chancellor Angela Merkel speaks at the donors Conference for Syria in London]German Chancellor Angela Merkel called on Saturday for better protection at the European Union's external borders in order to maintain the passport-free Schengen zone. Failing to protect the EU's external borders would jeopardise free movement of people which is the basis for the bloc's wealth, Merkel added. In particular, the protection of external borders is not turning out very well where the EU has sea borders, she said, referring indirectly to Greece, which has seen a huge influx of migrants and refugees coming in over water via Turkey, without mentioning the country by name.
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EU member states have hammered out details of a controversial plan to send more border guards and even troops to Macedonia's border with GREECE ...
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Bulgaria: Two Bulgaria-GREECE Border Crossings 'Sealed to All Traffic' Greek farmers park their tractors to block a road in front of the White Tower, ...
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[A woman with her child walk alongside railway tracks as refugees wait at a refugee camp to be allowed to continue their journey to Macedonia, near the northern Greek village of Idomeni, on Saturday, Feb. 6, 2016. A European Union official says Greece is making "rapid progress" in overcoming delays in building screening centers for migrants and refugees on islands facing Turkey, after involving the armed forces in the effort. (AP Photo/Giannis Papanikos)]AMSTERDAM (AP) — European Union foreign ministers anxious to stem the flow of migrants coming through the Balkans on Saturday sought with their counterparts from the region better ways to protect borders.
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