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Monday, September 16, 2013

Happiness: the next big business metric?

Happiness is gaining popularity as a measurement of success for governments – and for some businesses, including Zappos, Southwest and BT

Whether it's words of wisdom from the Dalai Lama, guidance from an empathetic career counselor or advice from a friend, we're often told that it's more important to be happy than anything else.

But for the more than 1 billion people around the world fighting hunger and poverty, happiness seems fairly irrelevant – a luxury for the middle and upper classes. Does happiness matter if daily needs are not met? Certainly the primary focus should be on taking care of the basics. Happiness is a bonus.

Most, it seems, would agree. But increasingly, the answer depends upon whom you ask. In certain academic and human development circles, the stock in happiness has been rising. So much, in fact, that in the last two years, the United Nations Sustainable Development Solutions Network (run by UN Millennium Development goals guru and Columbia University economist Jeffrey Sachs) has published the "World Happiness Report," researchers' attempts to measure happiness in 150 countries around the world.

That raises the question: As more thought leaders pay attention to happiness, should companies also consider happiness as one measure of their social impact?

"All businesses should care about happiness," said Mark Williamson, founder and director of the London-based Action for Happiness Project, who joined Sachs in New York last week to release the latest report. "The happiness of a company's people is vital to their business success."

Companies with happier staff outperform their competitors, Williamson said, and a happier staff is sick less often, more engaged, more creative, more productive and better at working collaboratively.

Consumer-facing businesses also affect the wellbeing of their customers, production services and their supply chain, Williamson added, so responsible businesses should not be hawking products or services that they know will decrease wellbeing.

The happiness metric: more important than GDP?

Government will likely play a role in driving the happiness agenda, if it progresses. "There is now a rising worldwide demand that policy be more closely aligned with what really matters to people as they themselves characterize their wellbeing," said Sachs, one of the report's co-editors.

Life satisfaction – a self-evaluation of how well a person's life is going – is the cornerstone of what the report aims to measure. According to researchers, a person's happiness, or wellbeing, can be traced back to GDP per capita (as a measure of one's standard of living), but also to the extent of one's social support, freedom, generosity, healthy life expectancy and perceptions of corruption.

In recent years, Williamson said, Sachs came to believe in wellbeing's potential as the "ultimate beyond-GDP measure." Sachs, a senior advisor on sustainable development to Secretary-General Ban-Ki Moon, is pushing to place wellbeing at the heart of the UN's post-2015 Sustainable Development goals.

Does more happiness really mean more sustainability?

But is a goal to improve the life satisfaction of people around the world really a means to an end? How would this accelerate or enhance ongoing work to secure access to clean drinking water and sanitation facilities, a sustainable food supply and a stable source of education?

"Wellbeing is really the driver that underpins all the development goals," Williamson said. "Whether we're aiming to alleviate poverty, ensure maternal health, support gender equality, or promote sustainability, the reason that all these things matter ultimately comes down to their impact on human wellbeing.

"If we get them right, wellbeing goes up," he said. "If we fail to deliver on them, wellbeing goes down."

Mental health and productivity

But even Bhutan, the world's most famous proponent of happiness, is starting to cast doubt on its devotion to the measure. Its society struggles with a range of social concerns including poverty, education, unemployment, gender inequality and a perceived increase of corruption – and even, perhaps, mental illness.

Yet Williamson points to both ends of the scale in this year's World Happiness Report as examples of wellbeing's power. The happiest countries – Denmark, Norway, Switzerland, Netherlands and Sweden – all have reasonably high GDP, he said, but likely rank high on happiness because people in these countries tend to have higher levels of social support and more collaborative and supportive social systems than most other developed economies.

On the other hand, countries that experienced the greatest falls in happiness over the last year – Greece and Egypt – are countries whose residents have had to contend with massive upheavals to financial and political systems that influence their quality of life. And it's no surprise that Syria – now in the spotlight for atrocities inflicted on citizens throughout its ongoing conflict – placed among the most unhappy countries worldwide.

Another reason to include wellbeing in the UN post-2015 Sustainable Development goals, Williamson said, is that its existing goals do not include mental health, something he considers to be the among most important determinants of wellbeing. According to the report, mental illness – which counts depression and anxiety among its forms – is among the main causes of unhappiness worldwide.

Unhappiest people get happier

Perhaps some of the greatest insights into the determinants of wellbeing can be gleaned from the region with countries ranked among the least happy worldwide. All are in Sub-Saharan Africa, a region where residents battle infectious disease, poverty and corruption.

Yet at the same time, Sub-Saharan Africa – along with Latin America – is counted in this year's report as one of two areas where happiness levels are increasing the most. The reasons? Higher levels of social support, generosity and the freedom to make key life decisions, the report said.

"Social relationships matter much more for happiness than possessions," Williamson said. "Every organization should recognize that human wellbeing is at the heart of success and progress – and that they can play a role in contributing to this by the way they treat their people, the products and services they offer and the impact they have in the community."

Bringing happiness to mainstream business

Some organizations, like John Lewis, have always put employee wellbeing at the heart of their business models, Williamson said. But happiness is gaining ground: companies such as Southwest Airlines, BT, Semco, Marks & Spencer, Zappos, Innocent Drinks and NixonMcInnes are increasingly taking it seriously, he added.

Happiness hasn't yet become a top priority for sustainability-minded companies, but Williamson expects the trend to persist. And if its popularity continues to rise among nonprofits, policymakers and thought leaders, we could soon see it become a common corporate social responsibility metric as well.

Should businesses consider happiness as part of their social impact? And what can businesses do to boost happiness? Please send us your thoughts by commenting below or by tweeting #GSBhappy.

Social ImpactSustainability reportingHappiness indicestheguardian.com © 2013 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds


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Lyceum Club of Greek Women Celebrates 102 Years

Greek ReporterLyceum Club of Greek Women Celebrates 102 YearsGreek Reportermain4_2186_lykeio-front Five years after its last appearance, the Lyceum Club of Greek Women is returning to the Odeon of Herodes Atticus (the stone theater structure located on the southwest slope of the Acropolis of Athens) on Sept 21, with a show ...

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Three bidders interested in Greek rail network

The bidders are French train operator SNCF SNCF.UL, Romania's Grampet Group and Greek building group GEK Terna (HRMr.AT) in cooperation with Russian Railways RZD RZDRU.UL, a source close to the talks said on condition of anonymity. Selling-off ...

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Samaras warns 'blind spot' in Greek program could benefit extremists

KathimeriniSamaras warns 'blind spot' in Greek program could benefit extremistsKathimeriniPrime Minister Antonis Samaras warned on Monday that as it tries to recover from its economic crisis, Greece finds itself in a ìblind spotî that could be exploited by extremists and populists as they aim to derail the countryís effort to complete its ...Stournaras Says The Pressure's OffGreek Reporterall 6 news articles »

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Santorini: Five reasons to visit the beautiful Greek island

MetroSantorini: Five reasons to visit the beautiful Greek islandMetroArguably Greece's most beautiful island, Santorini is a mix of towering cliffs, inky waters and whitewashed villages. Perfect for a post-summer break. You've already avoided the crowds. In around 1620BC, a huge eruption caused the centre of the ...

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Greek Semeli Wine World Top 10

Semeli Mantinia Nasiakos, Moschofilero variety, is considered as one of the most significant ones circulating in Greece and has been awarded many prizes in acknowledged international wine competitions. Its fine and strong aromas, characteristic ...

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Payback: DEPA-Baku Deal Squeezes Gazprom

ATHENS - On 19 September, Greece’s state-owned gas utility DEPA will sign an agreement with shareholders of the Shah Deniz consortium in Baku to acquire 1 billion cubic metres of gas per year from Azerbaijan through the 10-billion cubic metre Trans-Adriatic Pipeline (TAP), DEPA officials told New Europe on 16 September.

The agreement will be signed between high-ranking officials of DEPA and the consortium, which consists of British Petroleum (operator – 25.5%), Norway's Statoil (25.5%), Azerbaijan's state oil company SOCAR (10 %), Russia's LUKoil (10 %), Iran's NICO (10 %), France's Total (10%) and Turkey'sTPAO (9%).

The Shah Deniz Consortium selected TAP as the preferred transportation route for Caspian gas to Europe on 28 June. The pipeline developers plan to begin construction in early 2015 to be ready for the first gas from Shah Deniz by 2019. TAP’s shareholders are Swiss AXPO (42.5%), Statoil (42.5%) and German E.ON Ruhrgas (15%).

Greece already receives 750 million cubic metres per year of Azerbaijani gas through Turkey’s BOTAS since 2007.

The DEPA deal with the Shah Deniz consortium comes as the Greek company is expected to start another round of negotiations with Gazprom in Moscow on 17 September, seeking a price reduction from the Russian gas giant. Gazprom is Greece’s biggest natural gas supplier. Their contract expires at the end of 2016 and will most likely be extended.

DEPA is seeking to diversify its gas imports as part of the European Union’s goal of broadening the bloc’s resource base, specifically in a way that will reduce their dependence on Russian reserves and routes.

The Azerbaijani contract is also likely to boost the Greek’s company’s value, improving the prospects of its planned privatisation, required by Greece’s lenders.

A previous attempt to sell DEPA failed in June when Gazprom decided against submitting a binding offer at the last minute.

On 16 September, Russia’s Federation Council Chairwoman Valentina Matviyenko reportedly told Greek Prime Minister Antonis Samaras during her visit to Athens that Gazprom intends to participate in a new tender for the sale of DEPA. She, however, expressed complaints over the stance adopted by the EU on the sale of Greece’s natural gas company to Russia. She said Brussels had created problems over Gazprom coming to Greece. Gazprom is subject to an antitrust investigation by the European Commission into whether it violated competition rules by imposing unfair gas prices through contracts linked to oil prices, or prevented countries from diversifying their gas supplies. Russia is saying this is actually a fairly aggressive piece of intervention on the part of the European Commission.


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Tsipras Will Meet ECB’s Asmussen

Alexis Tsipras, leader of Greece’s major opposition party the Coalition of the Radical Left (SYRIZA) which is opposed to international bailouts and the austerity measures that come with them, is due to meet European Central Bank (ECB) Executive Committee member Jrg Asmussen this week in Germany. Tsipras was invited by left-wing party Die Linke. Asmussen recently visited Athens, but said he ...

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Kazantzakis Award Winners Named

The International Award named after the acclaimed late Greek writer Nikos Kazantzakis will be awarded to Maria Hadjiapostolou, theologist, and Marta Silvia Dios Sanz of Argenia, a doctoral candidate at the University of Peloponnese in Athens, Greece. The International Society of Friends of Nikos Kazantzakis (ISFNK) announced the competition in question for the first time, which was related to an ...

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Independent Greeks leader to be probed for lynching remark

The leader of the right-wing, anti-bailout party Independent Greeks, Panos Kammenos, is to be investigated by a Thessaloniki prosecutor after suggesting residents of Halkidiki in northern Greece ...

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Greek Workers Rise for Week of Anti-Austerity Strikes

A week of public sector strikes in Greece began with a bang on Monday morning as thousands of public school teachers, university professors, and other public sector employees walked off the job in protest of the latest set of austerity measures in the poverty stricken country."No to extended leave, redundancies and mandatory ...

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IMF disburses $113 million for bailed-out Cyprus

NICOSIA (Reuters) - The International Monetary Fund said on Monday it had completed its first review of its bailout program for Cyprus, enabling the disbursement of $113 million. The Fund said that brought total disbursements under its $1.3 billion loan program for Cyprus to $226 million. The IMF facility for Cyprus is part of a broader 10 billion euro ($13 billion) three-year bailout program with the European Stability Mechanism for the island. Cyprus was badly burnt in the euro zone debt crisis, particularly through its banking sector's close links to troubled Greece. ...


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Greece's Herculean task is to survive a recession as big as the Wall Street Crash

So, this week’s protests over public sector job cuts are both correct in the sense that the target figures are not the result of any serious review of what resources and skills the state administration needs, but wrong in dismissing evidence of under ...

READ THE ORIGINAL POST AT www.independent.co.uk

Greek police use tear gas on protesting school staff as teachers go on strike against cuts

One primary school head teacher who wished to remain anonymous said: “Last winter we came very close to not being able to pay the school’s heating costs, and the school’s phone line was cut off because the bill could not be paid. I had to use my own ...

READ THE ORIGINAL POST AT www.independent.co.uk

Greece: Schools shut, protesters pepper sprayed

ATHENS, Greece (AP) — Greek police used pepper spray against suspended school guards Monday as high schools around the country shut down at the start of a week of strikes protesting public job cuts.

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Greek teachers lead off a week of public sector strikes

19/12/2012 17:36 CET A week of planned strikes in Greece kicked off on Monday with the teachers’ unions, which have reported a near 90 percent turnout of their members who are angry at public spending cuts. Civil servants are to go on strike for 48 hours from Wednesday. Around 12,500 of them are due to be suspended in a bid to save money. ';The only thing we demand and fight for is ...

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Greek-American Fashion Weeks Hellenic Accent

Maria Pardalis, Taso Pardalis, and designer Timothy George, who was last year's Show Director at the Runway Event. This year's event was a runaway success. MANHATTAN - A peek into many an art history book reveals the Greek genius for design and aesthetics. In the context of the annual Mercedes-Benz Fashion Week extravaganza in New York City, the events of Greek American Fashion Week ...

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Croatia Dumps Greece From Eurobasket

It took two overtimes, but Croatia – which had already cinched a spot in the quarter-finals, ended Greece’s hopes of playing on in the Eurobasket 2013 tourney, 92-88, a loss that could have locked Greece out of next year’s world championships even though the team is ranked ...

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Kammenos Hints Lynching For Gold Mine Mayor

Independent Greeks leader Panos Kammenos will be questioned by a Thessaloniki prosecutor after suggesting residents of Halkidiki should "lynch" a local mayor for backing gold mining in Skouries which many area residents fiercely oppose, saying it would hurt tourism and the environment. Kammenos made the comments over the weekend after appearing at the Thessaloniki International Fair. ...

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Greek metals group Viohalco moves headquarters to Belgium for easier financing

Established in 1937, Viohalco is the leading Greek metals processing group with shares in some 90 companies and production facilities in Greece, Bulgaria, Romania and Britain. The group generates an annual turnover of more than 3 billion euros (4 billion U ...

READ THE ORIGINAL POST AT www.china.org.cn

4.8-magnitude quake rattles central Greece, no injuries, serious damage reported

Seismologists say a 4.8-magnitude earthquake has rattled central Greece, but there were no immediate reports of injuries or damage.

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Greece awaits German elections in hope and fear

Greece awaits German elections in hope and fearOman Daily ObserverMore than three years into the euro zone debt crisis, people in Greece are increasingly worried that a third term for the conservative chancellor will only bring them more austerity and hardship. “There is no room for optimism — no one really believes ...

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Croatia knocks out Greece in 2OT at Euro champs

Croatia knocks out Greece in 2OT at Euro champsNew Zealand HeraldLJUBLJANA, Slovenia (AP) Croatia knocked out Greece from the European basketball championship Monday with a 92-88 victory in double overtime. That result meant that two-time defending champion Spain clinched the last available quarterfinal spot from ...

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Its shoe time at Mary Katrantzou

Greek-born, London-based fashion designer Mary Katrantzou took a good look at the world of shoes in her spring-summer 2014 collection presented at London Fashion Week on Sunday evening.Katrantzou, who is known in the fashion capital as the Queen of Prints, took numerous details found on traditional brogues and colorful sneakers and transposed them onto her customary printed garments.A second ...

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Greek probe into missing street kids reopened

Judicial authorities in Greece say an investigation has been reopened into the whereabouts of 502 children who were placed into state care more than a decade ago but are unaccounted-for since 2004.The children, all believed to be Albanian Roma, were taken to an Athens ...

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Greek probe into missing street kids, 500 unaccounted-for after state care program ended

ATHENS, Greece - Judicial authorities in Greece say an investigation has been reopened into the whereabouts of 502 children who were placed into state care more than a decade ago but are unaccounted-for since 2004.

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Greek strikers scuffle with police, several injured

Several demonstrators were rushed to hospital on Monday after Greek riot police scuffled with protesting school guards trying to break through a police barricade in central Athens. The unrest came as teachers launched strikes against the Government’s ...

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Earthquake felt in Greek capital, no damage reported

ATHENS (Reuters) - An earthquake shook buildings in the Greek capital on Monday but there were no immediate reports of casualties or damage.

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Down and out: Greece loses to Croatia, too

KathimeriniDown and out: Greece loses to Croatia, tooKathimeriniGreece lost to Croatia 92-88 on Monday in the second overtime to bow out of the Eurobasket in Slovenia and return home early, while its chances of making next year's World Championship rely only on being invited through a wild card. The Greeks only had ...EuroBasket 2013 schedule: Spain, Greece eye last spot in quarterfinalsSB NationCroatia eliminates Greece 92-88 in 2 OT at European basketball championshipFox NewsGreece stuns Spain at EurobasketESPNTSN -New York Timesall 68 news articles »

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Croatia knocks out Greece 92-88 in 2OT at European basketball championship

by  Associated Press Croatia knocks out Greece in 2OT at Euro champs by NESHA STARCEVIC, Associated Press - 16 September 2013 10:59-04:00

LJUBLJANA, Slovenia (AP) — Croatia knocked out Greece from the European basketball championship Monday with a 92-88 victory in double overtime.

That result meant that two-time defending champion Spain clinched the last available quarterfinal spot from that group ahead of its game against Italy.

Bojan Bogdanovic made two free throws with 18 seconds left to secure Croatia's victory in a tight match, with neither team ever leading by more than seven.

Greece needed to beat Croatia and hope for Italy to beat Spain and Slovenia to defeat Finland to have any hope of advancing to the quarterfinals. Instead Croatia, which had already advanced, made sure of winning Group F.

Bogdanovic led all scorers with 22 points.

News Topics: Sports, International basketball, Basketball

People, Places and Companies: Croatia, Greece, Slovenia, Eastern Europe, Europe, Western Europe

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. This article is published under the terms of the News Licensing Group, LLC. privacy policy, in addition to the terms of use and privacy policy for this website.


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Croatia beats Greece in 2 OT at Euro championship

LJUBLJANA, Slovenia (AP) - Croatia knocked out Greece from the European basketball championship Monday with a 92-88 victory in double overtime. That result meant that two-time defending champion Spain clinched the last available quarterfinal ...

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Greek trip 'tiring', says Speaker

VICTORIA'S Speaker says he became aware of how little trade the state conducted with Greece only after he visited the debt-crippled country for a week-long taxpayer-funded trade mission        

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SDOE Reveals Monastery Fraud

Inspectors from Greece’s financial crimes squad SDOE said they have uncovered a scheme of 10 monasteries involving black money and fake documents to attain subsidies fraudulently. According to Greek media reports, the revelations of the Financial Crime Unit (SDOE) complement cases of fraud against the state with fake invoices. Thousands of farmers, pensioners, businessmen, inmates and ...

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Eurozone labor costs show smallest rise in four years continue to fall in Greece

Labor costs in the eurozone rose at their slowest pace in four years in the second quarter, according to Eurostat, with Greek statistics for the first quarter showing a decline of 10.1 percent.Greek figures for the second quarter were not available but Eurostat data showed that nominal hourly labour costs in the 17 countries using the euro grew by 0.9 percent in the April-to-June period, ...

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Viohalco leaving Greece for Brussels in search of financing and lower tax

Viohalco Hellenic Copper and Aluminum Industry is moving its headquarters from Greece to Brussels, Kathimerini understands, thereby becoming the third major Greek firm to leave the country over the last year.Viohalco is the largest Greek company in its field but has decided to move to Brussels because of the problems it encountered obtaining financing in Greece and because it will pay lower taxes ...

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No pressure for more measures says Stournaras as PM prepares for Brussels talks

Finance Minister Yannis Stournaras denied on Monday that Greece is under pressure from its lenders to adopt more fiscal consolidation measures.Stournaras spoke briefly to journalists after leaving a meeting with Prime Minister Antonis Samaras.The finance minister briefed the premier about what was discussed at last ...

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Kammenos to be probed for suggesting Halkidiki mayor should be lynched

Independent Greeks leader Panos Kammenos is to be investigated by a Thessaloniki prosecutor after suggesting residents of Halkidiki ...

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Annual deflation of 1 percent in August for Greece

Consumer prices continued to drop in August as the country experienced deflation of 1 percent last month compared to July, according to figures released on Monday by Eurostat.The latest drop in prices comes after a 0.5 percent decline in July. ...

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A New Greek Test for Europe

PRINCETON – Over the last year, it has been easy to lose sight of the Greek debt crisis. Brimming with official funds, Greece was apparently on the mend. Though privatization plans lagged, the Greeks won high marks for doubling down on fiscal austerity.

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Greek teachers clash with police during protests over layoffs

Greek teachers have clashed with police as demonstrators took to the streets in capital, Athens, to protest against public sector layoffs and forced transfers in the austerity-hit nation. Police fired tear gas at striking teachers and school patrol guards ...

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Greece Strikes: Week Of Walkouts Kicks Off

An effigy of a school guard is tied to the entrance of City Hall in the northern Greek city of Thessaloniki, as the sign reads 'It's not suicide. It's murder' on Wednesday, Sept. 11, 2013. (AP Photo/Nikolas Giakoumidis) Greece was hit by a new ...

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Greek metals group Viohalco to move base to Belgium

Greek metals group Viohalco to move base to BelgiumReutersGreek Prime Minister Antonis Samaras has promised to introduce a flat 15 percent corporate tax rate as soon as lenders allow him to. But such promises have not prevented Coca Cola Hellenic , Greece's biggest company, from moving its base to Switzerland ...and more »

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EuroBasket 2013 schedule: Spain, Greece eye last spot in quarterfinals

SB NationEuroBasket 2013 schedule: Spain, Greece eye last spot in quarterfinalsSB NationDefending champion Spain has the best chance at that spot, and they will get in if they defeat Italy. Spain would also advance if Greece loses to Croatia. Spain is coming off a dominating victory over Finland, led by Jose Calderon's 23 points and five ...Greece stuns Spain at EurobasketESPNFIBA EuroBasket Live Stream: Spain Do-or-Die vs. Italy, Croatia vs. Greece ...International Business Times AUGreece defeats the European basketball championKathimeriniTSN -New York Timesall 64 news articles »

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Porto Heli: Greek beach culture at its finest

Washington TimesPorto Heli: Greek beach culture at its finestWashington TimesPORTO HELI, Greece, September 16, 2013- While not as internationally celebrated as Mikonos or Santorini, Porto Heli nonetheless enjoys a certain degree on local fame as a popular summer destination for Greeks and other Europeans. With a rich history ...

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Greece gears up for protest strikes

At least two demonstrators were taken to hospital suffering from breathing problems after police used pepper spray in an attempt to move protesters away from the Administrative Reform Ministry. Separately, thousands of teachers and other civil servants ...

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Protests in Greece, as markets cheered by Summers withdrawal from Fed

The Serious Fraud Office is investigating the same agreements. Its investigation is at an earlier ... They're in Gateshead today, having kicked off in the refined environs of Oxford on Friday - where my colleague Katie Allen watched events unfold.

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Culture of Resistance: Protesting Greece's Politics With Yogurt

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Greece Braces For Strike-Torn Week

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Dog attacks boy in Larissa

A 35-year-old dog owner was facing charges after his dog attacked a 8-year-old boy in Larissa, central Greece. The dog, reportedly a Greek sheepdog, attacked the victim while the latter was cycling in the area of Giannouli.The boy was transferred to a local hospital where he received numerous stitches for injuries sustained on his neck, lips, hands and right ...

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Vodafone stepping up Greek 4G development

CEO Vittorio Colao told reporters in Athens on Friday that the UK-based giant plans to use some of the proceeds from the recent sale of its stake in US cellco Verizon Wireless to speed up ...

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