How the world sees Greece
 Kathimerini | The debate on the Greek program Kathimerini Is Greece's memorandum with the troika responsible for the difficult situation that the country now finds itself in? There has been much debate over this point in Greece, and more recently the debate has drawn in the International Monetary Fund's work ... |
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Stelios Haji-Ioannou says passengers are paying 33% more for flights than in 2009 and may rebel against further increases
Passengers are paying a third more for tickets than they were four years ago at the "low cost" flyer easyJet, and may rebel against further price increases, the company's founder, Sir Stelios Haji-Ioannou, has warned.
The entrepreneur, whose family owns 36% of the share capital in the airline, made his comments in a circular to other investors before the company's annual general meeting in 11 days' time.
It is the latest in a series of broadsides from Haji-Ioannou against expansion plans by the easyJet management and in particular the chairman, Sir Mike Rake, who handed in his resignation last month but wants to stay on until the summer.
Arguing that easyJet should not commit itself to heavy expenditure on three new Airbus aircraft at present, Haji-Ioannou said: "The company is doing better now because the prices have gone up but so have the costs. The unit costs have risen by 24% since 2008 and the average customer is now paying 33% more than they were paying four years ago. What happens if the consumers refuse to pay the even higher fares next year? We are then stuck with a higher cost base."
Among the costs under fire from the former chairman at easyJet are the "overpaying" of directors at the company such as the chief executive, Carolyn McCall, and her chief financial officer, Chris Kennedy. "The CEO and CFO made £5m and £3m respectively for FY [full year] 2012 alone. It is an unjustifiable salary advance of about 10 times on what they were earning at their previous employers only two years ago," he argued.
McCall is a former chief executive of the Guardian Media Group, publisher of the Guardian, while Kennedy was chief investment officer and president of EMI Music's corporate development unit.
The Greek-Cypriot airline founder said he would vote against the easyJet remuneration report at the AGM on 21 February and against the re-election of Rake, whom he unsuccessfully tried to remove at an extraordinary general meeting in August.
Haji-Ioannou argues that Rake has too much on his plate: he is also deputy chairman of troubled Barclays Bank and a director at McGraw Hill, the parent group of the Standard & Poor's rating agency, which is being sued by the US government.
"Rake is too busy anyway to do justice to all these jobs. He should have resigned before the EGM last year and that would have saved the company money. I have no favourites in who the next chairman would be. I just want someone who hates Airbus and hates taking large gambles with our money," he wrote in the circular.
The airline, whose shares are at an all-time high and surged 25% after it posted better-than-expected results last month, said it was encouraged that the investor advisory service ISS had urged shareholders to vote in favour of all resolutions at the AGM.
It added in a statement: "Our institutional shareholders have strongly supported the board at recent general meetings and we are confident that they will continue to do so at easyJet's forthcoming AGM."
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Violent fans stop Greek basketball cup final SI.com ATHENS, Greece (AP) - The Greek basketball cup final between fierce rivals Olympiakos and Panathinaikos has been suspended because of fan violence Sunday. Riot police intervened, at one point using stun grenades. The mayhem came with seven ... |
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 Kathimerini | Syrian Greek Orthodox Patriarch, John Yazigi, Enthroned In Damascus (PHOTOS) Huffington Post DAMASCUS, Syria -- Syria's Greek Orthodox Church enthroned a new patriarch during a ceremonial mass in Damascus on Sunday amid civil war. John Yazigi, 57, replaces Ignatius Hazim as the Eastern Orthodox Patriarch of Antioch and All the East. New Greek Orthodox Patriarch Enthroned in Syria Greek Orthodox leader enthroned in war-hit Damascus Patriarch Yazigi Officially Inaugurated as the Greek Orthodox Patriarch of ... |
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Five die and three injured in incident during emergency drill on Thomson Majesty moored at Santa Cruz on island of La Palma
Five people have died on a cruise ship operated by the holiday firm Thomson after a lifeboat fell from the vessel during an emergency drill at La Palma in the Canary islands, according to Spanish officials and reports.
Three other people were injured in the incident on the Thomson Majesty, the most modern addition to the company's fleet of cruise liners, which was moored at the island's capital, Santa Cruz.
Government officials quoted emergency services as saying crews were sent to the dock just after midday local time (12pm GMT) after "a lifeboat with occupants had fallen overboard from a cruise ship docked at the pier".
Spanish reports identified the ship as the Majesty and said those dead were believed to be three Indonesians, a Filipino and a Ghanaian.
The country's media quoted police as saying the boat, carrying eight members of the ship's crew, dropped around 30 metres into the water before overturning. It was not known what caused the boat to fall. Those injured, two of whom were badly hurt, were identified as being two Greek nationals and one Filipino.
According to the report about 2,000 passengers were on board the Majesty, which is based in the port and usually undertakes cruises around the Canaries and Madeira. No passengers were involved in the exercise.
A spokesman for Thomson, which is owned by the German travel giant TUI, said: "Thomson Cruises is aware of an incident involving the ship's crew on board Thomson Majesty, in La Palma, Canary Islands this afternoon.
"We are working closely with the ship owners and managers, Louis Cruises, to determine exactly what has happened and provide assistance to those affected by the incident. More information will be released as it becomes available."
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Qatar to invest in smaller Greek firms gulfnews.com Qatari Prime Minister Shaikh Hamad Bin Jassim Al Thani told a news conference that his country was prepared to put €1 billion into a fund that would invest in small and medium-sized Greek firms, with Greece providing a similar amount to the fund. |
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 The Next Web | Zerofund: An innovative platform to kickstart Greece's startup scene The Next Web But is that the whole truth about Greece? Certainly not. Some people, especially the young generation, do their part to beat the crisis. And sometimes against all odds. Due to the crisis, government services were asked to undergo harsh budget cuts and ... |
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A masterpiece of ancient Greece: A world of men, gods, and heroes on view in ... Art Daily TOKYO.- The tenth Louvre - DNP Museum Lab presentation, which closes the second phase of this partnership between the Louvre and Dai Nippon Printing Co., Ltd (DNP), invites visitors to discover the art of ancient Greece, a civilization which had a ... |
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Greece Offers Breaks To Tax Debtors Greek Reporter Greek_tax Taking a cue from banks who are offering better terms to customer who can't pay their loans and credit cards, Greece is planning to offer beleaguered taxpayers buried under doubled income and property taxes to pay what they prove they can ... |
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 The Daily Star | New Greek Orthodox Patriarch Enthroned in Syria ABC News Syria's Greek Orthodox Church has enthroned a new patriarch during a ceremonial mass in Damascus amid civil war. John Yazigi, 57, replaces Ignatius Hazim as the Eastern Orthodox Patriarch of Antioch and all the East for the Greek Orthodox. Hazim died ... Prominent Christian leader says Syria is paining from “futile wars” Rai attends Yazigi enthronement ceremony in Damascus Patriarch Rai's visit to Syria draws mixed reactions |
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5 Things: Avlee Greek Kitchen, The Brooklyn Phil, Grammy Night Patch.com 1. Avlee Greek Kitchen, located at 349 Smith St., officially opened for business last week. Word on the street is that the name translates to "garden." As such, the dining spot uses all fresh ingredients to prepare its traditional Greek menu. Items ... |
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Blog Spotlight: Try Little Greek Restaurant for Valentine's Day Patch.com If food is truly an expression of love, then your valentine will appreciate a candlelit dinner featuring a variety of Greek specialties at Little Greek Restaurant. In his blog on Westchase Patch, Neil Heird discusses the merits of this new restauraunt ... |
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 Kathimerini | Mazower on the rise of Greece's political extremes Kathimerini Mazower is in Athens this week for a lecture on the rise of political extremes in crisis-hit Greece, at Deree College. In an interview with Sunday's Kathimerini, Mazower talks about the delegitimation of Greece's political class, the rise of Golden ... Greeks rally against racism |
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 Boston Globe | Yachting in Turkey and Greece, James Bond-style Boston Globe February 10, 2013. Article · Comments · Subscribe. The 170-foot-long Regina idles in St. George's Bay on the island. MARC MEWSHAW FOR THE BOSTON GLOBE. The 170-foot-long Regina idles in St. George's Bay on the island of Symi, Greece. |
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German press – Former Greek PM Simitis says Greece will need another debt ... ForexLive (blog) German press – Former Greek PM Simitis says Greece will need another debt restructuring. By Eamonn Sheridan || February 9, 2013 at 22:53 GMT. || 0 comments || Add comment. In an interview with German newspaper Handelsblatt published on Saturday, ... Simitis Says Greece Needs New Debt Cut |
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 MyrtleBeachOnline.com | Greek Orthodox Church in Myrtle Beach prepares for its consecration MyrtleBeachOnline.com Certain churches have a service called “consecration,” a sacred celebration for their buildings, and St. John the Baptist Greek Orthodox Church in Myrtle Beach is one of them. It will conduct its consecration Feb. 15-17. “The consecration is the ... Best bets: Feb. 10 |
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Greek police Photoshop away bruises in mug shots, prompting public outcry The Verge A Greek prosecutor has asked for an investigation into whether retouched mug shots are covering up evidence of police brutality, Reuters reports. Earlier in February, four young men were arrested during an attempted armed bank robbery, and photos taken ... |
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