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How the world sees Greece
Thursday, May 16, 2013
Archaeological finds delay completion of Maliakos Gulf highway
The new section of national road on the Maliakos Gulf in central Greece will not be completed until the end of 2014 due to significant archaeological finds, it has been revealed.Some 23 kilometers of the 77.2-kilometer stretch is yet to be completed following repeated delays.The Stylida-Raches stretch is due in the fall of 2014 and the Lamia bypass is expected by the end of 2014.This could lead ...
Armed robbers net 1 mln euros at Larissa bank
Two armed robbers made off with 1 million euros in a raid on a branch of National Bank in the main square of Larissa, central Greece, on ThursdayAccording to witnesses, the robbers pretended to be bank customers before pulling out their ...
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Two racist gang members held over arson attack on migrant cafe
Two Greek men, both aged 34, arrested in connection with an arson attack on the coffee bar of a Cameroonian national in the run-down central Athens neighborhood of Aghios Panteleimonas on Monday night appear to be members of a racist gang, police said on Thursday.According to police spokesman Christos Parthenis, a search by officers ...
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Exams begin Friday after Greek teachers call off strike
University entrance examinations are to begin as normal on Friday, with pupils sitting papers in Modern Greek, after the secondary school ...
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Greek addicts turn to deadly sisha drug as economic crisis deepens
Greece apart or shisha, the drug now known as the "cocaine of the poor". What everyone does accept is that shisha is a killer. And at EUR2 or less a hit, it is one that has come to stalk Greece, the country long on the frontline ...
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International Energy Saving Award For Crete
The International Conference MEDEEA-Mediterranean Energy Cities European Energy Awards that took place in Cyprus' capital Nicosia on May 15-16 awarded the municipality of Malevizi in the Greek island Crete for its energy-saving policies. During the conference, projects were awarded, among which the actions of Malevizi municipality, with the leading integration of the village Keramoutsi in ...
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Miloterranean Geo Experience On Milos
Sponsored by the company S&B Industrial Minerals S.A., Milos Mining Museum on the island of Milos, a volcanic Greek island in the Aegean Sea, presented the new Miloterranean Geo Experience project, a web application which caters to the inquisitive traveler's desire to discover the multifaceted beauty of the Greek islands' Milos and Kimolos landscape and volcanic origin. Maps with ...
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Boutaris Likes Gay Pride Hates Golden Dawn
The Mayor of Thessaloniki Yiannis Boutaris talked in an interview in the radio station Palmos 96.5 and said he supports the Gay Parade in Thessaloniki but not the neo-Nazi Golden Dawn party that has 18 seats in Parliament. "I have repeatedly said that the Golden Dawn should not be in the Parliament. This party is a disgrace for the Greek society. The fact that this party is third is ...
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Fitch Takes Rating Action on Greek SF Tranches Following Sovereign Upgrade
Fitch Affirms Japan at 'A+'; Negative Outlook The affirmation of Japan's sovereign ratings in part reflects the greater commitment of the Bank of Japan and government to bring to an end two decades of economic stagnation and deflation. If successful and underpinned by structural reform to raise potential growth along with a credible medium-term deficit reduction plan, Japan's ...
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Young Greeks Could Get U.S. Work Visas
Ted Spyropoulos, Chairman of the SAE committee that lobbied to make it easier for young Greeks to come to the U.S. and work, with jobs drying up in Greece. WASHINGTON, D.C. - With unemployment for Greeks under 25 at a staggering 64 percent and many fleeing the country's crushing economic crisis in search of work and a better life, the door is opening for them in the United States, if only a ...
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Hot Salpa But Dont Hold The Tulisa
Greek-Irish model Georgia Salpa strikes the kind of pose that her many fans like, and which has ranked her among the world's beauties, and a virtual reality TV star. Two Greek beauties, Georgia Salpa and Cypriot Tulisa Contostavlos, have been rated among the 100 sexiest women in the world by the magazine FHM. Salpa, who was born in Athens to an Irish mother and Greek father, came in 10th ...
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New Democracy Takes Slim Lead Over SYRIZA
Prime Minister Antonis Samaras’s New Democracy (ND) Conservatives continued to hold a lead over the major opposition party Coalition of the Radical Left (SYRIZA) but by less than 1 percent in a poll conducted by the Marc/Alpha agency. ND had 21.6 percent with SYRIZA at 20.7 percent. The poll showed the neo-Nazi Golden Dawn still locked in third with 9.4 percent, ahead of Independent Greeks ...
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Greek Donkey Milk Olive Oil Cosmetics
Ten years ago, her husband made a farm with horses and donkeys in Edessa, out of love for the four-footed creatures. It was then that Crysoula Tsirogka, knowing about the beneficial properties of donkey milk, decided to give it every day to her child, who was facing respiratory problems. Since then, the child no longer needed medicine and his condition was significantly improved. Commercial use ...
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Greece To Adopt IRS Methods
Tax cheat-singer Tolis Voskopoulos got away with it With antiquated record keeping, court cases backed up a decade, and tax cheats still running rampant during a crushing economic crisis, Greece is planning to use the same kind of cross-referencing and collection techniques that make the American Internal Revenue Service (IRS) the most efficient – and feared – in the world, although ...
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Celebrating International Museum Day around Greece
Museums around the country celebrate their past, present and future this weekend as a number of local cultural institutions take part in festivities marking this year’s International Museum Day. The International Council of Museums (ICOM) established International Museum Day back in 1977 in an effort to raise public awareness with regard to the key role played by cultural organizations ...
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Two Greeks Arrested In Racist Attack
With attacks against immigrants in Greece unrelenting, police arrested two Greek men on suspicion of attacking a Cameroonian national and setting fire to his coffee bar in a central Athens neighborhood that has become a flashpoint of racist violence. The two, both 34, appeared before a prosecutor on May 16. Police spokesman Christos Parthenis said a search of the suspects' homes revealed ...
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The Garden Movement Grows In Greece
All across Greece, municipalities have allotted land to local citizens with the purpose of increasing food security for the underprivileged, educating the younger generation, and providing their citizens with a retreat from city ...
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The Worst Institution In The World, Ctd
So far we have only isolated accounts and studies. The may not hold up to rigorous scrutiny. Nonetheless, it does seem as if the final accounting will be brutal. From Michael Scaturro “Greece is an example of perhaps the worst case of austerity leading to public health disasters,” Mr. Stuckler explained in a telephone interview.
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Amid Recession and Crisis, Greece?s Shipping Industry Steams Ahead
On December 5 last year, the Ob River, an 288-metre LNG (Liquefied Natural Gas) tanker with a capacity of 84,682 deadweight tonnes chartered by Russian energy giant Gazprom, arrived at the Japanese port of Tobata. The ship belonged to Dynagas, a privately held company owned by George Prokopiou, one of Greece’s preeminent shipping magnates.
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Greek leader stresses culture in talks with China's premier
Prime Minister Antonis Samaras of economically troubled Greece met Chinese Premier Li Keqiang on Thursday, hailing the contributions to global civilisation of their respective cultures.
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Greek hotel entertainer stabs child
AN entertainer at a Greek hotel has been charged with stabbing a 12-year-old Russian boy after he accused the man of stealing his laptop and mobile phone.
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In Sign Of Improving Greek Economy, Fitch Upgrades National Bank of Greece ...
 International Business Times | In Sign Of Improving Greek Economy, Fitch Upgrades National Bank of Greece ... International Business Times In a sign that Greece's economy is improving, Fitch Ratings has upgraded the ratings of several Greek banks. They are National Bank of Greece (NBG), Piraeus Bank (Piraeus), Alpha Bank (Alpha) and Eurobank Ergasia (Eurobank). The Long-Term Issuer ... |
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Greece's 200% increase in HIV shows how disastrous austerity can be for public ...
Greece's 200% increase in HIV shows how disastrous austerity can be for public ... Quartz On the second day of the two-day conference, Greek finance ministry official Evdoxia Andrianopoulou read from a series of brown-colored PowerPoint slides riddled with details of attrition and savings. Greece's cuts were deep, of the sort commonly seen ... |
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Fitch Upgrades Greek Banks After Recapitalisation and Sovereign Upgrade
International Business Times | Fitch Upgrades Greek Banks After Recapitalisation and Sovereign Upgrade Reuters The agency has also revised the Greek banks' Support Rating Floors (SRF) to 'No Floor' from 'CCC' and affirmed the Support Rating (SR) at '5'. These rating actions follow the banks' recapitalisation and a more stabilised macroeconomic environment in ... Greek market ends higher In Sign Of Improving Greek Economy, Fitch Upgrades National Bank of Greece ... |
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Obama, Erdogan Discuss Syria In White House Meeting
WASHINGTON -- Turkish Prime Minister Recep Tayyip Erdogan is looking for stepped-up action on Syria as he meets with President Barack Obama at the White...
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Entertainer at Greek island hotel charged with robbing, stabbing 12-year-old guest
ATHENS, Greece - A Greek island hotel entertainer has been charged with attempted murder and theft for allegedly stabbing a guest's child 20 times after the 12-year-old confronted him over a theft.
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Greek teachers back down and call off 24-hour strike
ATHENS (Reuters) - Greek high-school teachers called off a planned 24-hour walkout for Friday, yielding to government threats of arrest and dismissal if they failed to show up for work. In a sign of growing strike fatigue among austerity-hit Greeks and widening rifts within labour unions, teachers said they cancelled the walkout because they did not receive enough support from other workers ...
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This Stock Market Rally Appears To Be Simple Mean Reversion
"The end is near" has been the bears' dire prediction since the start of the bull market on March 9, 2009. This year's rally to new record highs suggests that the bears have lost their credibility and that investors are becoming increasingly convinced that the end is actually still far off.
For the past three years, the market's valuation multiple has been held down by fears that a financial meltdown in Europe, a double-dip recession in the US, and a hard landing in China will cause a recession. Yesterday, the forward P/E of the S&P 500 rose to 14.4. That's the highest since April 23, 2010, just before Greece hit the fan and just before the bears became obsessed with their Endgame scenario triggered by growth-crushing woes in Europe, the US, and China.
If the end of the Endgame is far off or if there is no end to the Endgame, then valuation multiples have been too low for the past three years and have room to move higher, which is what they are doing now. From this perspective, the recent valuation-led rally in stocks isn't irrational exuberance. Rather, it is a bullish rejection of the bearish and dreaded prediction of the Endgame prognosticators pontificating that the end is near or even imminent.
The mean of the monthly forward P/E of the S&P 500 since September 1978, when the data start, is 13.7. The recent valuation-led rally may simply be a reversion to the mean, as the P/E has rebounded from 12.1 at the end of last year on November 14 to 14.4 yesterday. The bull market’s trough P/E was actually 10.2 on October 3, 2011. The bull market’s peak P/E was 15.1 on October 14, 2009 before the bears distracted us with their Endgame scenario, which depressed P/Es. Reverting above the mean to 2009’s peak would put the S&P 500 at 1744, up 5.2% from yesterday’s close.
Today's Morning Briefing: MAMU? (1) If it looks like a melt-up, is it? (2) Sit back and relax? (3) It probably isn’t different this time. (4) Valuation multiple could revert back above its mean. (5) Rule of 20 puts P/E at 18. (6) The fundamentals are mixed. (7) But bad news is good news. (8) Going vertical. (9) Fasten your seat belt. (10) The Mother of All Melt-Ups? (11) Greenspan's melt-up. (More for subscribers.)
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Greece: A reality check
And like that... poof, the crisis is gone.
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Things to do this weekend: Greek Festival, HMAC Prom, Gettysburg Bluegrass ...
Things to do this weekend: Greek Festival, HMAC Prom, Gettysburg Bluegrass ... Penn Live Enlarge Paul Chaplin | pchaplin@pennlive.com Father Mark Lichtenstein speaks to festival goers during a cathedral tour at the Capital Region's Greek Festival at Holy Trinity Greek Orthodox Cathedral in Wormleysburg. PAUL CHAPLIN, The Patriot-News The ... |
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Time to get your Greek on with Paniyiri
 The Age | Time to get your Greek on with Paniyiri Courier Mail More than 30 food stalls will showcase the tastes, recipes and secrets of food from all corners of Greece while on the main stage, famous Greek dances (Zorba, Sirto, Kalamatiano and Sousta) will be performed to music from Greek instruments including ... Paniyiri festival to chalk up artistic achievement |
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