A 9.7% increase in passenger traffic was recorded at GREEK airports in the summer, according to data from the Civil Aviation Authority, while passenger ...
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Friday, September 15, 2017
GREEK port passenger traffic down and cargo traffic up in Q1 2017
Passenger traffic in GREEK ports dropped 2.1 pct in the first quarter of 2017, compared with the same period last year, after a 0.4 pct decline recorded in ...
Greek Cypriots need to change their attitude: Akinci
… the Greek Cypriot leadership in particular and the power of the Greek … transformation of mindset on the Greek Cypriot side. The presidential election … Nicosia Economic Forum, held by Greek authorities, to maintain their energy …
Human trafficking leads to refugee surge in Greece
… between Turkey and Greece, about 3,700 refugees reached Greek shores in … Greece. In total, about 10,000 people are currently staying on Greek … reunification for those arriving from Greece In addition, Dwommoh highlighted heightened …
Local Fare: A labor of GREEK love
Pensacolians always look forward to the second weekend in October, when the annual Pensacola GREEK Festival occurs. If you are new to our ...
LSU Suspends GREEK Activities Following Freshman's Death
UNITED NEWS INTERNATIONAL (UNI) — Louisiana State University has suspended all GREEK activities after a student died in a possible hazing ...
Greece Hopes to Clear Next Bailout Review This Year, Pappas Says
Greece wants the next review of its European loan program to wrap up by the end of the year, which would pave the way for additional money to be disbursed in 2018, according to a senior member of Prime Minister Alexis Tsipras’s government. Euro-area ...
Local high school teacher arrested for fossil footprints theft in Crete
A local high school teacher has been arrested for the theft of fossil footprints in Kasteli, Chania, on the island of Crete. A part of the stolen human-like footprints were found in the home of the 55-year-old who is a resident of Kissamos. Security cameras had recorded the thief when he was removing the 5.-7-million-year-old … The post Local high school teacher arrested for fossil footprints theft in Crete appeared first on Keep Talking Greece.
GREECE Scrambles to Cleanup Oil Spill Affecting Popular Athens Beaches
UNITED NEWS INTERNATIONAL (UNI) – Authorities in GREECE are struggling to mop up an oil spill that's left beaches and wildlife covered in tar.
Turkish Warplanes Violate Greek Airspace for Fourth Consecutive Day
On Thursday, Turkish fighter jets violated Greek airspace for the fourth consecutive day in a row, by flying over the northeastern, central and southeastern Aegean. Eight F-16s in formations of two and two more F-4s flew over Greek waters, carrying out 12 violations of the national airspace and six other violations of Athens FIR. The Turkish […]
Wording Issue Over Asia Minor “Genocide” Causes Greek Parliament Controversy
A wording issue concerning the definition September 14 as the day of remembrance of the Asia Minor disaster in the 1920s, led to a huge row in parliament between the Speaker Bureau, and main opposition New Democracy party. The parliament Speaker Bureau chose to call September 14 “day of memory for the destruction of Asia […]
Eco Groups Accuse Greece of Violating Environment Protection Treaties
Environmental activists have accused Greece of violating international environment-protection treaties by granting permits to its national energy company, and making it impossible for anyone to launch a legal challenge against them, a Euractiv report says.
Eurogroup: Persecution of Former Statistics Chief Could ‘Damage Reputation’ of Greece
European Finance ministers expressed their concern about the continued Greek Justice’s persecution of Former ELSTAT chief Andreas Georgiou. After the Eurogroup meeting, at Tallinn, Estonia, Eurogroup chief Jeroen Dijsselbloem said that “It is our ...
Greece's Pappas Expects 2 Percent Growth This Year
Sep.15 -- Greek Digital Policy Minister Nikos Pappas discusses the Greek economy and bailout with Bloomberg's Vonnie Quinn on "Bloomberg Markets." Bloomberg 0:40
GREEK tourism promo film wins first international prize
“Greece – A 365-Day Destination,” a 3:36 minute film submitted by the GREEK National Tourism Organization (GNTO) took the first prize for Europe at ...
Pappas to CNN: We Are Confident We Can Return to Markets in 2018
Speaking the news network CNN on Friday, Greece’s Digital Economy and Media Minister Nikos Pappas said he was confident that Greece will be ready to […] The post Pappas to CNN: We Are Confident We Can Return to Markets in 2018 appeared first on The National Herald.
Minister of Foreign Affairs, N. Kotzias, to participate in the proceedings of the 72nd Session of the UN General Assembly (New York City, 18-22 September 2017)
The Minister of Foreign Affairs, Nikos Kotzias, will head the Greek delegation during the High-Level Week of the 72nd Session of the UN General Assembly, from Monday, 18 September, to Friday, 22 September 2017. The Minister of Foreign Affairs will be meeting with a number of foreign counterparts and representatives of international and regional organizations. In addition, he will participate in the Meeting of EU Ministers of Foreign Affairs, as well as in several High-Level meetings, where he will have the opportunity to present Greece’s positions. He will also be co-chairing, along with his Chinese counterpart, the Ministerial Meeting of the Ancient Civilizations Forum, which was launched last April in Athens, on Greece’s initiative. The Minister's programme also includes the Quadrilateral Meeting of the Ministers of Foreign Affairs of Greece, Bulgaria, Croatia and Romania, as well as the Trilateral Meeting of the Ministers of Foreign of Greece, Cyprus and Egypt. Finally, the Minister will attend events hosted in his honour by the World Jewish Congress and the Federation of Cypriot American Organizations, where he will be awarded for his contribution to the promotion of peace in the Middle East and his efforts towards the settlement of the Cyprus issue. His visit to New York will conclude on the afternoon of 22 September with his address to the UN General Assembly.
Greece: Bank Stocks Sink, Will IMF & ECB Stress Test Bad Loans?
Shares of Greek banks have been slipping in recent weeks as the threat of multiple stress tests shine a light on the quality -- and scrutiny -- of financial assets in the struggling nation. The financial crisis in Greece and unemployment have resulted ...
Health Ministry forbids Swimming in several beaches ofAthens Riviera, Pireaus, Salamina due to Oil Spill
With decision of minister Andreas Xanthos, Greece’s Health Ministry forbids swimming in the following beaches in Piraeus, Athens Riviera and Salamina due to the pollution caused by the oil spill. Piraeus from the beach near the Naval Academy (Themistokleous 334) and the beach of Freatida. Beach “Votsalakia” Athens Riviera all beaches located in the municipalities: … The post Health Ministry forbids Swimming in several beaches ofAthens Riviera, Pireaus, Salamina due to Oil Spill appeared first on Keep Talking Greece.
A Eurogroup without whining about a Greek ‘something’ is half the joy…
As if we did not have enough trouble with the oil spill, a long-time-not-seen Eurogroup meeting took place in Tallinn, Estonia, today. Greece’s lenders came together to catch up with the struggling country. Top on the agenda was the implementation of the Greek program and the third review. Eurogroup head Jeroen Dijsselbloem said at a … The post A Eurogroup without whining about a Greek ‘something’ is half the joy… appeared first on Keep Talking Greece.
Beautifully restored 1862 Greek Revival home asks $695K
This historic property, built in 1862 as the Christopher H. Drowne House, underwent a complete structural renovation in 1978. You won't find sleek modern updates in here, though—the home has maintained much of its 1860s charm. To start, old house lovers ...
An investing legend who's nailed the bull market at every turn sees no end in sight for the 269% rally
[Laszlo Birinyi]Bloomberg TV * INVESTING LEGEND LASZLO BIRINYI HAS NAILED THE EIGHT-YEAR BULL MARKET AT EVERY TURN, AND SEES STOCKS CONTINUING TO RISE GOING FORWARD. * HE THINKS STOCK BEARS ARE IGNORING THE HIGH LEVELS OF CASH FLOATING AROUND THE MARKET RIGHT NOW. When Laszlo Birinyi talks about the stock market, it's in your best interest to listen. The legendary investor and president of Birinyi Associates has repeatedly nailed his predictions since the start of the bull market. He was one of the first analysts to recommend buying after markets bottomed in March 2009 and has remained a stock enthusiast as the S&P 500 has nearly quadrupled. Most recently, he said at mid-year that the benchmark would hit 2,500 by the end of September. Right on cue, the S&P 500 is sitting within five points of that target after hitting a series of new highs this week. Perhaps even more impressive than Birinyi nailing the start and subsequent gyrations of the eight-year bull market has been his continued willingness to make bold forecasts in the face of pessimism. Back in December 2008, in the throes of the financial crisis, he wrote that stocks were near a bottom. Need more evidence of his prescience? No problem: * In September 2011, Birinyi argued that US corporations were seeing earnings growth that was too strong for stocks to be sabotaged by Greek's debt crisis. The S&P 500 is up 121% since then. * A year later, when the S&P 500 was sitting near 1,400, he predicted that it could climb 7% to 1,500 in just four months. It did so in five. In an interview with Business Insider, Birinyi laid out his arguments for the continuation of the bull market. And he poked holes in many of the most popular bearish stock arguments — from high valuations, to record-low volatility, to breadth. He doesn't buy any of it. Nor is he a fan of ETFs, one of the world's fastest-growing investment vehicles. Birinyi is instead focused on something he thinks is going widely unappreciated: the massive amount of cash that's sloshing around in the market. _This interview has been edited for clarity and length._ JOE CIOLLI: What specific elements do you think are pushing the market higher? We hear a lot about earnings growth, and relatively subdued geopolitical tensions. What is shaping your fundamental picture? LASZLO BIRINYI: I don’t think people appreciate how much cash there is in today’s market. It seems like everything is just an excuse to put that cash to work, whether it’s a tax bill, or economics, or [Donald Trump’s chief economic advisor Gary] Cohn not leaving the White House — those are all just excuses. The bond market is unsettled, and you’ve removed some of the stock market concerns of the last couple years, most notably earnings. People are feeling a little more confident and willing to invest, and they have the cash to do it. The other issue is that, while the averages are lackluster, there’s a lot of trading money focused on individual stocks. The S&P may not have moved 1% or 2% in however many days, but the reality is that stocks are having really good days. You have a lot of individual stock volatility, which reflects the fact that people have the funds, and they’re looking for vehicles in which to manifest those funds. They’re using single stocks as the vehicles, not broad asset classes such as emerging markets, or gold, or commodities. The critical ingredient in the market is cash. We also focus on the fact that many of the negative arguments really don’t hold water. _Valuations:_ > Yes, they’re high, but since 2009 we’ve become enchanted by what > everyone calls Shiller’s CAPE. We went back to the 1980s and found > that in an entire 10-year span, there was only one mention. This > isn’t a law that’s been in existence ever since the New York > Stock Exchange has been around. We weren’t even aware of it in the > last cycle. My argument against the whole thing is: it’s never > gotten you in the market. We can catalog a bunch of articles that > show no one’s ever said to buy. It’s always been “the > market’s overpriced, the market’s expensive, the market’s > high,” but no one’s ever said buy. In July 2009, there were some > articles saying that according to some valuation measures, the > market was fully valued. In July 2009! To me, something that’s > never told me to buy is not something I’m going to listen to when > deciding when to sell. _Stock market breadth (a measure of how widely distributed gains are):_ > There are 10-12 different versions of breadth. There are all kinds > of ways to look at it, and the bears find the one that looks least > compelling. One of the problems I’ve always had with technicians > is that they come up with a viewpoint, and then they come up with > data to support it. To me, a lot of these concerns have been with us > a long time. _Fundamentals / earnings:_ > The interesting thing about earnings this quarter is that while > they’ve maybe not been quite up to expectations, what’s making > things difficult is that people are now looking at earnings as just > the first cut. And then they say, well what about revenue? And after > earnings and revenue, they look at some other factor. You have a > stock like Netflix, where the earnings were so-so, but the > subscription rate was really good. You have this volatility because > there’s money sloshing around, waiting to do something. All of a > sudden you look at Netflix, and it’s up 10%. > > With a stock like Priceline that has a so-so report, but the outlook > isn’t that exciting, so everyone jumps on the downside. You have > this tremendous individual stock volatility. The fact that overall > earnings are good has made people a little more confident about the > market, but it’s also made things more difficult because earnings > are now just the first cut. But net-net it’s a positive. CIOLLI: In the past, you've expressed caution around what you describe as "irrational exuberance." Are we seeing that right now, and how has that view shaped your firm's forecasts? BIRINYI: We’re really not seeing it. As for what we've done, we reached our objectives for the first six months at the end of June. So we wrote at the end of June that we would be buying the September 29 S&P $250 call — in other words, we were looking for 2,500 by the end of September. And this was not just a comment, we actually put money on the table. We’re now at that level (_note: the index closed at a record high of 2,498.37 on Wednesday, the day before this interview_). There’s absolutely no change in our view that the market will continue higher. Once the market goes above 2,500 — which hasn’t happened yet — we will be coming up with a new target, because we think this is a market that’s ideal for taking small steps, rather than looking out 12-18 months. There are too many moving parts, such as North Korea, which we’re not going to try to factor into our process. CIOLLI: What is your take on the current low-volatility environment? It often gets characterized as a ticking time bomb. Does it worry you, or signal anything in particular? BIRINYI: Like so many things, that is a characteristic of a market. When people say to me that the market hasn’t had a 1% run in a certain number of days, that tells me just that. It doesn’t tell me anything about tomorrow, or what’s going to happen. The VIX isn’t the fear index. It’s a measure of potential volatility in either direction, yet for some reason people have glommed onto the idea that if the VIX spikes, the market’s going to go down. No, when the VIX spikes, it means the market could go either up or down a lot. If you go back to the bottom in 2009, the VIX was telling you that there were going to be another two years of a bear market. It tells you about volatility, not direction. To me, it’s just another vehicle. It’s totally meaningless with regard to the future of the market. In an uninteresting market, people have found that this is something you can play. It seems like VIX ETFs and ETNs are a quick way to lose money. CIOLLI: What about ETFs, which have seen a huge increase in popularity, and are often blamed for sapping the market of volatility? BIRINYI: We looked at ETFs. I don’t think people really appreciate or understand a lot of the ETFs. Do you know what the fifth-biggest stock in the technology ETF is? A telephone company. When you say you want to buy tech, are you OK buying telephones? We looked and if you took the eight biggest ETFs and bought them in January, you were up approximately 10% end-of-year. If you bought the biggest stock in those ETFs, you’re up 25%. That should be the story, instead of all these new ideas. If you go back in time, there’s always been three guys from MIT that could come up with a better mousetrap. They were doing the same thing 10-12 years ago. Today we have bigger computers, and the algorithms are more complicated, but it’s not new. You go out, you buy individual stocks where you understand that business and you understand what you’re doing. If you bought some sort of VIX vehicle, I’m not sure you could understand if it did what you thought it would. Are you really getting paid for being correct? I’m not sure. It’s fine for people with the background to do it, but not for 99% of the population. To me, all these shortcuts and easy ways to get into the market are very, very expensive. Without a way to quantify it, I’d almost be willing to bet you a very large amount of money that the dealers have made more money on the VIX than the customers. To me, this is all noise that floats because there’s nothing else going on. People want to have something to talk about. CIOLLI: What’s your view on how political developments are affecting the market now? Immediately after the election, a lot of the stock market gains were attributed to policy optimism, but that correlation seems to have lessened. What's the current dynamic? BIRINYI: It’s having some influence, in the sense that it’s given people a reason to re-assess their circumstances and what they’re doing. But I don’t think it’s having a direct influence in terms of what you buy and sell. If you look at the stocks that responded immediately after the election, they’ve not held up. While I’m willing to concede that there was a Trump bump, there aren’t Trump stocks. The market, in so many ways, has suggested that the alleged direct beneficiaries of the new administration really aren’t benefiting. Investors, including myself, jumped on these ideas, and many lost some money doing so. All politics are local. When you have developments that aren’t likely to directly affect most individuals, they’re really not going to be that concerned. Healthcare did affect most individuals, and the town meetings were pretty raucous. But when you talk about the wall, and things like that, it won’t affect 99% of people, so they’re not focused on it. Bank regulation isn’t going to affect most people, so they’re not going to try and do anything about it. Trump has gotten people out of their chairs and doing something, but I don’t think it’s been in the stocks that you’d most closely associate with his politics. CIOLLI: Overall, what's the best piece of advice you can give to investors right now? BIRINYI: We have a cliché here that we say to our customers, and it’s from a Wendy’s commercial: Where’s the beef? We see so many articles about how there’s going to be a correction, but out of all the forecasts, I’ve never seen one that outright says to sell. No one comes out and says “there’s going to be a correction — short the S&P.” It’s all “the market is scary” or “we could have a downdraft,” but at the end of the day, the question remains: Has there been a transaction? Having sat on a trading desk on Wall Street, where you live and die by what you do, to me this is just noise. In the last eight years, there was only one instance that I recall where a strategist came out and said: there’s going to be a correction and you should sell the S&P. And we did! It didn’t work out — we lost a little bit of money. And that was OK. We like situations where someone gives something tangible, where someone is accountable. That’s why, when we put up our forecast in June, we said we were buying those September 29 S&P $250 calls. We had skin in the game, and I think customers appreciate that. We may be wrong, but we’re not going to sit there and give people a forecast we’re not following ourselves. As somebody once said, don’t tell me it’s going to rain. Tell me to buy an umbrella. NOW WATCH: Bitcoin's bubble swells with a new record high
New Greek Steakhouse Focuses on the Meat in a Stunning Space
Is this the year’s most perplexing name yet? No, that honor goes to XYST, but Merakia: Greek MountainThief Spithouse + Steak comes pretty damn close. Named for revolutionary fighters in 1821’s Greek War of Independence who stole livestock and spit ...
LSU Suspended Greek Life After A Freshman Died In A Possible Hazing Incident At A Fraternity
Louisiana State University suspended all Greek activity Thursday after an 18-year-old freshman who was pledging the Phi Delta Theta fraternity died in what officials are saying is a "potential hazing incident." Maxwell Raymond Gruver died after he was ...
GREECE strengthens class societies after oil spill
GREECE'S government has strengthened the role of class societies at the expense of its own bureaucracy, following an embarrassing oil spill off Athens ...
GREECE has 'come a long way' says Eurogroup president
A proposal to drop GREECE'S “excessive deficit procedure” was described as a sign of the country's economic progress, according to Eurogroup ...
Greek Chicken Rice Bowl
Loaded Greek Chicken Avocado Salad is a meal in a salad! Full of Greek flavours and a dressing that doubles as a marinade **Skirt Steak Fajitas** For the marinade: c. soy sauce c. fresh squeezed lime juice c. canola oil 3 cloves of garlic, minced 2 T.
Extra: Formagination winners; BBC Earth moves to Greece
Israeli screenwriter Shiri Zuck’s (pictured, right) Museum of Me has won the seventh annual Armoza Formats-hosted format competition Formagination, which looks to create an “international launching pad” for Israeli creativity. The dating format ...
Editorial: Alexander right to suspend LSU GREEK Life activities
This is not the first time a University fraternity has been investigated for hazing activity, and it is not the first time GREEK activities have led to the death of ...
Greece warned over trial of former statistics chief
Euro area finance ministers have warned that the continued prosecution of Greece’s former statistics chief risks is putting the country’s nascent return to financial markets at risk. It was their most strident comments yet about the judicial saga.
Glendi Greek Festival kicks off Friday
… , N.H. — The annual Glendi Greek Festival gets underway Friday in … .m. at the Saint George Greek Orthodox Cathedral on Hanover Street … event features all your favorite Greek foods, along with music, dancing …
What not to miss on a holiday in Crete if you're short on time
… of inspiration? Check out our Greece Holidays page for everything from … More Discover Greek mythology I’ve had an interest in Greek mythology … . But you shouldn’t leave Crete without tasting its seafood. And …
Oil spill forces Greek authorities to close Athens beaches
ATHENS, Greece — Greek health authorities have banned swimming … a 20-kilometer (13-mile) stretch from Greece’s main port of Piraeus …
Greek authorities reassure public following oil spill
'We can deal with this', say Greek authorities following oil spill near Athens.
Greek Orthodox Church's 20th annual Greek Festival offers taste of Greek culture
Religion and fellowship come together in St. Philothea Greek Orthodox Church’s 20th annual Greek festival, which will be held Saturday, Sept. 16, from 11 a.m. to 5 p.m. at the church’s location in Watkinsville. St. Philothea has been a part of the ...
Adults in the Room: The Sordid Tale of GREECE'S Battle Against Austerity and the Troika
Yanis Varoufakis begins his account of his half year as GREECE'S finance minister in the left populist Syriza government (Adults in the Room, Farrar, ...
In GREECE, the Golden Dawn Trial Resumes as Charlottesville Reverberates
Victims are still waiting to see justice as Golden Dawn's racist ideology and violence continue to threaten minority groups in GREECE. Members of ...
GREECE condemns London attack
The Greek foreign ministry condemned the attack on the London underground on Friday and expressed GREECE'S solidarity. “We strongly condemn ...
GREECE: Sunken Tanker Leaks Oil into Sea and onto Beaches Near Athens
In GREECE, authorities are struggling to contain a mounting ecological disaster, after a tanker carrying 2,500 tons of fuel sank off an island near Athens.
Cyta kicks off sale of Greek business
Cyprus Telecommunications Authority (Cyta) this week began the process of offloading its operations in Greece, giving would-be buyers two weeks to register their interest in the sale… Cyprus Telecommunications Authority (Cyta) this week began the process ...
Are DC superheroes the new Greek myths?
One of the things that has always set DC apart from other comic book franchises is the fact that most superheroes are ordinary people who become godlike through their superpowers. Most superheroes are just like you and me, and become something greater than ...
Mitsotakis Outlines Vision to Make Northern Greece a Global Player in Tech, Innovation
THESSALONIKI – New Democracy leader Kyriakos Mitsotakis kicked off a three-day visit to Thessaloniki on Friday to attend the 82nd Thessaloniki International Fair (TIF). “My […] The post Mitsotakis Outlines Vision to Make Northern Greece a Global Player in Tech, Innovation appeared first on The National Herald.
Pavlopoulos Condemns Reluctance of Central EU Countries to Implement Rules of Solidarity
Greek President Prokopios Pavlopoulos on Friday condemned the reluctance of central European countries to adhere to the rules of solidarity that govern the European Union. […] The post Pavlopoulos Condemns Reluctance of Central EU Countries to Implement Rules of Solidarity appeared first on The National Herald.
Healthy Herbs, Herbal Medicine, and a Salad Recipe
Herbs are an essential part of Greek cuisine and traditional medicine in all cultures. While adding flavor to foods, herbs also provide health benefits. Since […] The post Healthy Herbs, Herbal Medicine, and a Salad Recipe appeared first on The National Herald.
Letter from Athens: Now’s the Time for Greece to Stop Backing Turkey’s EU Bid
Turkey’s hopes of becoming a member of the European Union are now as dead as the Cyprus unity deal Ankara scuttled when Dictator Recep Tayyip […] The post Letter from Athens: Now’s the Time for Greece to Stop Backing Turkey’s EU Bid appeared first on The National Herald.
Announcement of the Ministry of Foreign Affairs on the new launch of a ballistic missile by the Democratic People's Republic of Korea (15.09.2017)
Greece unequivocally condemns the new launch of a ballistic missile by the Democratic People’s Republic of Korea, which is repeatedly violating international law, ignoring the relevant UN Security Council Resolutions. Today’s incident is yet another serious provocation undermining international peace and security.We call on Pyongyang to comply with its international obligations and to enter into meaningful dialogue with the international community for the promotion of peace and stability in the wider region. We remind of the obligation of the competent international and european organizations to reveal the countries who supply Pyongyang with technology and materials for its ballistic programme.
LSU suspends all Greek activities after freshman pledge dies
All Greek activities were suspended at Louisiana State University on Thursday after a freshman pledge died in what is being investigated as a hazing incident. The school announced that freshman Maxwell Gruver, 18, from Roswell, Georgia, died Thursday ...
Oil Spill: To Swim or Not To Swim? Stand of Athens Riviera beaches
Shipping minister Panagiotis Kouloumblis stunned and confused residents of Athens, Piraeus and Salamina when he stated Thursday evening on Skai TV that “people can go swimming” there was no problem in Salamina. Indeed. Friday morning, some brave ones wore their bathing suits, packed their things and went for their daily swim at the beaches of … The post Oil Spill: To Swim or Not To Swim? Stand of Athens Riviera beaches appeared first on Keep Talking Greece.
Greece mourns slain anti-fascist rapper Pavlos Fyssas
A self-professed Golden Dawn member stabbed leftist rapper Killah P to death in Piraeus four years ago on September 18. A municipal worker cleans near graffiti about the late Greek rapper on September 24, 2014 [Nick Paleologos/SOOC/Al Jazeera] Piraeus ...
38th annual Greekfest kicks off
The annual festival will take place at St. George GREEK Orthodox Church and will feature authentic GREEK food, pastries, live music, traditional GREEK ...