Thousands of police are on duty in Athens today as German chancellor pays her first visit to Athens since the financial crisis began
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| READ THE ORIGINAL POST AT www.guardian.co.uk |
How the world sees Greece
Tuesday, October 9, 2012
FOREX-Euro under pressure on Spain bailout uncertainty
 Moneycontrol.com | FOREX-Euro under pressure on Spain bailout uncertainty Reuters * Euro off 2-week high as Spain decision seen not imminent * Market may shift focus to earnings, share prices * Limited reaction after Greece seeks deficit target extension By Hideyuki Sano TOKYO, Oct 9 (Reuters) - The euro was on the back foot on ... Battered but intact, the euro mounts a comeback Europe Tells Greece to Speed Up Economic Reform New Euro-Zone Aid Fund Launches |
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| READ THE ORIGINAL POST AT www.reuters.com |
Emerging Stocks Rise on Greece; Energy Stocks Gain
Emerging Stocks Rise on Greece; Energy Stocks Gain Businessweek Emerging-market stocks rose, led by energy producers, as European finance ministers signaled they will keep providing aid to Greece. Samsung Electronics Co. (005930), which got 19 percent of its sales from Europe last year, climbed to a five-month high ... |
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| READ THE ORIGINAL POST AT www.businessweek.com |
Greece: Merkel travels to eurozone fault line
 Business Insider | Greece: Merkel travels to eurozone fault line Boston.com ATHENS, Greece (AP) — German Chancellor Angela Merkel makes her first visit to Greece since the eurozone crisis began here three years ago. Her five-hour stop is seen by the government as a historic boost for the country's future in Europe's shared ... Merkel Greece Visit: Athens Police Plan Crackdown Ahead Of German ... Police on Alert As Merkel to Visit Greece Angela Merkel Is Visiting Greece Tomorrow - Here Are The Two Big Things ... |
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| READ THE ORIGINAL POST AT www.boston.com |
Merkel bears no gifts for Greece
More than any other European leader, Angela Merkel is unloved in Athens: she is seen as the main enforcer of drastic austerity measures imposed by the EU on Greece to resolve its debt crisis.
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| READ THE ORIGINAL POST AT edition.cnn.com |
Merkel bears no gifts on Greek visit
More than any other European leader, Angela Merkel is unloved in Athens: she is seen as the main enforcer of drastic austerity measures imposed by the EU on Greece to resolve its debt crisis.
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| READ THE ORIGINAL POST AT edition.cnn.com |
What Can We Learn From the Financial Meltdown of Glasgow Rangers FC?
It seems hard to fathom how one of the 25 biggest football clubs in the world (ranked by Forbes in 2007 at #25 with a valuation of $194 million) could come so close to cratering into the abyss. At least it does until you really understand how the club got here. Much like the Greek and the French citizens, Rangers nation refused to take its medicine when it got sick. Years and years of mortgaging the future by stealing tomorrow’s revenues to pay for today’s ambitions were a big part of the problem. When you combine that with an organization that did not tie its expenses to it revenues or even construct any sort of internal metrics to measure the effectiveness of its staff or player wages, you can start to get a picture of how the mighty Rangers arrived at bankruptcy and how 140 years of celebrated footballing history was almost terminated. While there are many contributing factors that will be explored here, the evidence points to hubris as the primary cause. While television revenues in the SPL were becoming increasingly smaller as a percentage of turnover (8% for Rangers in 2011) and season ticket sales were declining every year (down to 37,500 from 44,000 five years ago), Rangers continued to rearrange the deck chairs on the Titanic. Clearly, Rangers believed their Titanic was incapable of sinking – simply too big to fail. Failing to acknowledge the global shifts and winds of change, Rangers continued to pay more than they could afford to players, managers and executives (£26MM towards wages on £35MM of revenue). Employee benefits and perks continued to grow – creating an unsustainable set of obligations for a club that was seeing revenues decline. (sounds a lot like the US Government today) Like so many before them, the answer was always to place a bet on winning football as the catapult over the morass.
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| READ THE ORIGINAL POST AT www.forbes.com |
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