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How the world sees Greece
Saturday, May 31, 2014
Greek EU Presidency Promotes GM Crops in Europe
An indicative vote of EU member state representatives taken in a closed meeting in Brussels last Wednesday indicated a near unanimous support for the proposal of widely allowing genetically modified crops to be grown across the European Union. A formal ...
Mr. Gyros: fast food meets fine Greek fare
Sometimes, even in a burger-based world, you just want a gyro. Or perhaps souvlaki, horiatiki and dolmades. Mr. Gyros can get you all of the above and then some, and do it fast. The newest of their three locations is small: seven tables inside, two outside ...
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Live Commentary
Live CommentaryGoal.comPortugal are likely to face different challenges at the World Cup, when they come up against Germany, Ghana and the United States in a tricky-looking Group G. I would expect each of those sides to show more ambition than Greece. Nani continues to look ...and more »
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Greek Court Rules on Final Guardianship of Little Maria
The First Instance Court in the city of Larissa, in central Greece, issued Friday its final decision on the guardianship of the little blond girl Maria, who was found living with a Roma family last October in Larissa, Greece, ruling that the little girl of ...
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Prem Watsa Expresses Full Confidence in Eurobank’s Outlook
Prem Watsa, chairman of Fairfax Financial Holdings, on Friday expressed his full confidence that Eurobank will become profitable in the long-term. Addressing a meeting with the bank’s top executives in Athens, Watsa said: “Our long-term goal is Eurobank to become profitable again. We are convinced that Eurobank and its management can surpass expectations and present the first successful recovery example in the Greek banking system after the crisis.” Fairfax is a cornerstone investor in Eurobank after investing 400 million euros in a recent share capital increase plan by the Greek bank. Christos Megalou, Eurobank’s chief executive, addressing the meeting said that “the bank’s success in attracting international investors of the status of Fairfax and Mr. Watsa, and other cornerstone investors such as Capital Research and Management Company, WL Ross, Mackenzie Financial Corporation, Fidelity Management and Research Company and Brookfield International Ban, was a landmark and a starting point for the future” both for the bank and the Greek economy. “We hope that we have them by our side and draw from their unique global experience. We will give our best to meet our commitments through set timetables,” Megalou said. Prem Watsa stressed that Eurobank was the first Greek systemic bank with a majority private shareholding base after its recapitalisation and that the bank was properly positioned to fully exploit opportunities created by Greece’s return to positive growth rates. “Our investments in Greece have a long-term horizon. Eurobank can play a decisive role in the project of returning the Greek economy to a sustainable course, both by offering a success model in the banking sector and through creating a new model of financing Greek enterprises,” Watsa said. He added that a decision by Fairfax to participate in Eurobank’s board offered proof of its commitment to support the bank’s management. “We believe that markets have already begun realising the significant opportunities existing in the Greek market and the positive outlook of the country, on the precondition of a stable course of implementing a reform programme,” he added. Prem Watsa is the founder, chairman and chief executive of Fairfax Financial Holdings, based in Toronto, Canada. The company has assets under management worth around 25 billion US dollars. (source: ana-mpa)
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Greeks World’s Most Sexually Active
Despite a crushing economic crisis - or maybe they have more time on their hands - Greeks are the world's most sexually active people, going at it three times a week.
The post Greeks World’s Most Sexually Active appeared first on The National Herald.
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Toronto Greeks Honors The NBA’s Giannis Antetokounmpo
TORONTO, CANADA – Torontonians gained a lot of attention this basketball playoff season for their loud and proud outpouring of support for the Toronto Raptors. The playoff series between our Raptors and the Brooklyn Nets showcased a National Basketball Association (NBA) success story with the right kind of drama – the kind you witness on […]
The post Toronto Greeks Honors The NBA’s Giannis Antetokounmpo appeared first on The National Herald.
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Roma girl Maria to stay in Greece
Roma girl Maria to stay in GreeceAdelaide NowThe girl - known as Maria and now aged 5 - was discovered during an October police raid for drugs and weapons at a Roma camp near Lamia in central Greece. Because the child was blonde, suspicions rose that she was the victim of a kidnapping, sparking ...and more »
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Three men, two women, on the hook for stealing fish
Three men and two women, aged between 24 and 32, have been arrested in Arta, northwestern Greece, for stealing 70 kilos of sea bream from a fish farm in Vigla.
The five suspects allegedly drove from Messsolonghi, where they live, and loaded up the fish on... ...
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Greek MEPs decided as vote count concludes
The process of counting the votes for European Parliament candidates was due to be completed over the weekend, with the 21 MEPs that will represent Greece and their parties appearing to have been decided from Friday.
SYRIZA has elected six parliamentarian... ...
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Court awards Greek children’s charity custody of Maria
A court in Larissa, central Greece, ordered on Saturday that the children’s charity Smile of the Child should have custody of Maria, a five-year-old girl found at a Roma camp in nearby Farsala last October.
The court ruled that it was best for Maria’s upb... ...
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Curtain set to rise on this year’s Greek Festival
From music to theater and dance, the Greek Festival celebrates its 56th anniversary this summer. Founded in 1955 as the Athens Festival, its bar was set high right from the start, with Dimitris Mitropoulos leading the New York Philharmonic in one of the e... ...
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Samaras targets end to solidarity tax
The scrapping or reduction of the solidarity tax and possibly the lowering of value-added tax (VAT) are at the core of Prime Minister Antonis Samaras’s strategy for the months ahead, which will also determine if Greece will go to early general elections.
... ...
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Air force seeks F-16 upgrades
Greece is looking to make improvements to its fleet of F-16s after already setting in motion an upgrade for its Mirage fighter jets, Kathimerini has learned.
Defense Minister Dimitris Avramopoulos has asked for a plan to be put in place for the improvemen... ...
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Greek Volume Down 0.8 pct in March
Retail volume in Greece fell by 0.8 pct in March, although store categories showed a mixed picture, official figures showed on Friday. Hellenic Statistical Authority, in a report, said that turnover fell in department stores (-15.7 pct), pharmaceutical-cosmetics (-10.6 pct), food/beverage/tobacco (-8.2 pct), furniture/home equipment (-1.7 pct) and supermarkets (-0.7 pct), while on the other hand, the volume of sales rose in clothing/footwear (5.3 pct), bookstores (2.6 pct) and fuel/lubricants (2.2 pct). The statistics service said that the volume of sales (turnover in fixed prices) fell 0.8 pct in March compared with the same month last year, while the turnover index (current prices) dropped 3.4 pct in the month. (source: ana-mpa)
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Greece World Cup Long Shot
With Colombia favored in Group C, Greece will have to fight it out with Japan and Ivory Coast to advance in the upcoming World Cup in Brazil.
The post Greece World Cup Long Shot appeared first on The National Herald.
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Fake Doctor Ran Greek Hospital
Greek authorities said a review of university degrees claimed by Greek doctors has rooted out some frauds, including the director of a hospital on the island of Skyros,
The post Fake Doctor Ran Greek Hospital appeared first on The National Herald.
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Greek Vandals Hit Jewish Cemetery in Thessaloniki
Jewish Daily ForwardGreek Vandals Hit Jewish Cemetery in ThessalonikiJewish Daily ForwardThe incident comes after the release of an Anti-Defamation League survey showing that Greece has Europe's highest rate of anti-Semitic attitudes, with 69 percent of Greeks espousing anti-Semitic views. That's nearly twice the rate as the next highest ...Jewish tombs desecrated at Greek cemeteryYahoo NewsJewish cemetery desecrated in Thessaloniki, GreeceThe Times of IsraelVandals break into Thessaloniki Jewish cemeteryJewish Telegraphic AgencyArutz Shevaall 58 news articles »
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Greek Cypriots in first gay pride parade
NICOSIA - Nicosia readied to host its first Greek Cypriot gay pride parade Saturday, 16 years after homosexuality was decriminalised on the Mediterranean island where the influential Orthodox Church views non-heterosexual relations as sinful. Activist ...
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Greece to Receive $4.64bn IMF Aid Payout
The International Monetary Fund's (IMF) board has approved the latest review of Greece's rescue deal, paving the way for the bailed-out nation to receive $4.64bn in aid. Greece has so far received about $15.8bn (€11.6bn, £9.4bn) from the IMF under a ...
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IMF OK’s 3.6B Euro Greek Loan
The International Monetary Fund says it has approved payment of a 3.4-billion-euro (US$4.6 billion) loan installment under Greece's bailout program.
The post IMF OK’s 3.6B Euro Greek Loan appeared first on The National Herald.
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Ivory Coast defender Kolo Toure has malaria, team expects him to recover for WCup
by
Associated Press
Ivory Coast defender Kolo Toure has malaria
Associated Press - 31 May 2014 04:16-04:00
DALLAS (AP) — Ivory Coast and Liverpool defender Kolo Toure has contracted malaria.
The Ivory Coast team's head of medical staff Cyrille Dah said in a statement that Toure had likely contracted the illness on a trip to the Ivorian capital Abidjan before he joined up with the squad for its pre-World Cup training camp in Dallas.
Dah said Toure fell ill on a flight to St. Louis on Wednesday ahead of Friday's friendly against Bosnia. Ivory Coast lost 2-1 without Toure. Dah said the 33-year-old central defender is undergoing treatment and "will return next week."
Toure has played over 100 games for Ivory Coast, which faces Japan, Colombia and Greece in group games at the World Cup.
Dah said Toure's brother Yaya and Didier Ya Konan were also recovering from minor injuries.
News Topics: Sports, 2014 FIFA World Cup, FIFA World Cup, Malaria, Men's soccer, International soccer, Soccer, Events, Infectious diseases, Diseases and conditions, Health, Men's sportsPeople, Places and Companies: Kolo Toure, Ivory Coast, Dallas, West Africa, Africa, Texas, United States, North America
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Lihadonisia: The Maldives of Greece!
Lihadonisia, are the Seychelles of Greece. In the northern Gulf of Euboea, between Kamena Vourla and Euboea, there are a cluster of islands, called Seychelles by the locals. This group of islands, Lihadonisia, emerged after a big earthquake thousands of years ago. During the past years there were inhabitants, but today no one lives there any longer; they are protected natural areas. The islands are a perfect sea destination for one day excursions and explorations. The largest islands are Strogili and Manolia, some smaller islands are Little Strogili, Steno and Vagia and the smallest ones are called pontikonisia. There is an organized beach on one of the islands, where all the essentials are offered. Remains of an ancient settlement have been found in another island, while there is also a church, where weddings and baptisms are held. Lihada’s sea bottom is extremely rich and many old shipwrecks attract divers. Routes by boat are being carried out on a daily basis from the port of Agios Georgios, as well as from Kamena Vourla to North Euboea. The ticket costs 5 euros per adult and 2.50 euros for children. The route lasts 5-10 minutes and the boat will leave passengers at Strogili, the island with the organized beach. Except from the vast food variety, one can also enjoy the company of seals, which have chosen one of the Lihadonisia as a permanent residence. The whole concept of being on a small island gives vacationers the feeling of being on an exotic destination!
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DIMAR Rejects Kouvelis Resignation, SYRIZA Eyes Unity
Democratic Left (DIMAR) lawmakers said they won’t accept the resignation of party leader Fotis Kouvelis, even though it finished with a disastrous 1.2 percent and dead last among major Greek parties in the May 25 European Parliament elections. Under pressure from dissidents in the marginalized party, Kouvelis had offered to quit but a majority of his deputies said they need him even as the party disintegrates around him after he backed austerity measures while serving in the coalition government last year of Prime Minister Antonis Samaras, the New Democracy Conservative leader. The party’s executive committee met to discuss why it fared so poorly in the elections although Kouvelis’ support for pay cuts, tax hikes, and slashed pensions is antithetical to its principles. It wasn’t reported if anyone noticed that. Kouvelis finally yanked DIMAR last year from the coalition, which also includes the PASOK Socialists, after he refused to go along with firing all 2,653 workers at the now-defunct national broadcaster ERT, which has been replaced with a new station called NERIT. Many of the workers were brought back. DIMAR has 14 lawmakers, but based on its EU balloting showing it wouldn’t be able to muster the 3 percent of the vote needed to enter Parliament in the next national elections and would effectively be ended. Even though Kouvelis’ leadership tenure has been a wipe-out, the party officials said he’s the man to still lead them, although there had been a split between those who wanted him to work with the major opposition Coalition of the Radical Left (SYRIZA) which won the EU ballot among Greece’s parties. SYRIZA officials are reportedly watching what’s happening at DIMAR with the thought of bringing it into the Leftist fold, although there are sharp ideological differences between Kouvelis, who formed DIMAR, and SYRIZA leader Alexis Tsipras, who bested him in the battle for the Leftist leadership. “Our priority is for DIMAR to succeed in rebuilding itself and to remain a united party,” one SYRIZA source told Kathimerini, saying the party’s collapse and the migration of some of its MPs toward SYRIZA was “secondary.”
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Cristiano Ronaldo to miss Portgual's Greece friendly through injury
Cristiano Ronaldo to miss Portgual's Greece friendly through injuryExpress.co.ukCristiano Ronaldo will miss Portugal's friendly with Greece today because of a muscle problem with coach Paulo Bento saying he has to "consider every scenario". Published: Sat, May 31, 2014. Cristiano Ronaldo, Portugal, Greece, World Cup, Paulo Bento, ...
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Hard times ahead for Mr. Draghi
by
Christos Kissas PhD
“No one’s better than Draghi at saying little, doing nothing and getting results; he’s the only central banker who understands central banking” tweeted Jim Rickards, one of the most prominent analysts and financial writers of our time, a few days ago.
Indeed, Mario Draghi has so far proved to be a master at being loud, alluding to ECB’s imminent intervention in the markets, then doing absolutely nothing, and letting anticipations guide the market. And he has been extremely successful, at least at keeping the euro afloat and managing the confidence crisis in the common currency.
Among his boldest statements, one remembers his July 2012 declaration in which he planned to do “whatever it takes” to save the euro, a statement credited with changing the course of the eurozone’s crisis, without the ECB actually having to purchase a single government bond. In a similar situation, the Fed had to buy up to $85 billion treasury bonds per month in order to stabilize the US economy. Again, last month, Mr. Draghi declared that the ECB was ready to take action and use tools such as government bond purchases to “prevent inflation from falling too much,” a timid way of showing support to government spending programs for creating some growth in the recession-stricken eurozone. Practically, we are still waiting to see some real action in this direction.
All that was fine up to the European Parliament elections, a week ago. Sunday’s 25 May vote came as a shock, although a largely expected one. First, low and declining turnout (only 43 percent this time) is the clearest signal that euroscepticism is on the rise across Europe. Then, and most strikingly, the results positioning extreme-right and left parties on the top in countries such as France, the United Kingdom, Hungary, or Greece is a loud protest against what is elegantly named “the common disinflation experience,” that is: unemployment, worsening working conditions and declining living standards—after all, the EU project was an implicit promise of growing income, less inequality, and better life. The protest vote was also targeting Brussel’s bureaucracy and EU politicians, whose decisions and policies are hardly explained and understood by the peoples of Europe. In sum, the protest vote is a clear and loud request for changing policy—but in which direction?
Here starts the confusion. For most people, changing policy means a departure from Germany’s dictated austerity programs, which comes down to higher public spending and increasing deficits. Which in turns means adding more debt to the existing mountains of debt. But is this a viable solution or a temporary relief measure that will end up with more austerity programs in the future? There is another contradiction too: not all European countries are on the same path; if Italy, France and the South of Europe need “pro-growth” measures, Germany and its close partners are happy to have a rather booming economy. How can we apply a common monetary policy to both cases?
The second approach is to urge governments to hear the message and respond to it through structural changes, that is reforms that will enhance productivity and competitiveness, such as more flexibility in labor markets, opening branches to competition etc. But such reforms aren’t usually welcome by those concerned, and tend to intensify workers’ hardship, at least in the short term. Without the proper explanation to citizens (which is usually the case), intensifying reforms now would be interpreted as “more of the same thing,” which after the rise of extreme parties could be politically suicidal.
Thus, there is not much room for manoeuvre. Under the pressure of public opinion and the enhanced position of eurosceptic parties in the European Parliament, the most probable option will be to “outsource” policy responsibilities to Mr. Draghi’s ECB, who will eventually have to act in the markets rather than regulating the markets through statements. What will be the scope and the effectiveness of such a monetary-only policy to a “reform-averse” Europe, remains to be seen. Did at least the so-called political elites get the elections’ message? Judging from their first reactions to the vote (like those of French politicians speaking about a “wound” or a “fracture”), we cannot be sure. Happily, there is the ECB.
Bon courage Mr. Draghi!
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There will be blood
by
Dan Alexe
Last week’s very short EU summit (over dinner, inside the Justus Lipsius Council bunker in Brussels), on Tuesday 27 May, two days after the parliamentary elections, left the major groups in the Parliament stunned and furious: the 28 leaders refused to endorse the EPP Jean-Claude Juncker, former Luxembourg prime minister and former Eurogroup boss, as Commission president.
Those who felt most cheated were the Socialists. They had gone as far as to bring their backing to Juncker, candidate of the rival EPP group, agreeing that he should be let to start negotiations for leading the Commission.
As Hannes Swoboda, President of the Socialists and Democrats Group in the European Parliament, bitterly said: “It is comical that Juncker has Socialists’ support but is blocked by the EPP in the European Council”… meaning the big EPP leaders like Angela Merkel, although support for Juncker inside his own faction is also lukewarm at best.
“The European Council is playing a game of hide and seek”, continued Swoboda. "As the Council refuses to accept its responsibilities, we call on Jean-Claude Juncker to start negotiations without a Council mandate. 26 million unemployed people and a stagnating economy do not have the time to follow the Council’s snail's pace.”
The hint to the 26 million unemployed people is, of course, pure rhetoric, as it is unlikely that finding a Commission president more quickly would do anything in the near future for the millions Greeks, and Spaniards, and Eastern Europeans living on dole.
The Council’s refusal to endorse Juncker came as no surprise. All along, the main capitals repeated, on various notes, that they did not agree with the Parliament’s interpretation of the Lisbon treaty and that member countries were not prepared to renounce the prerogative of anointing the Commission boss anytime soon.
The whole process of organising primaries inside the major political parties (on the Socialist side, Martin Schulz was the only candidate) was a ritual of the Parliament’s own making, with which the Council wants nothing to do. The capitals did not ask for it and don’t feel bound to accept the results.The opposition to Juncker is practically unanimous among the 28, and even takes martial tones in Britain’s David Cameron’s mouth.
For the Council, made of the heads of state and governments of the 28, the prerogative to choose a Commission chief of their liking has not only political, but almost metaphysical implications. To lose it, would mean losing control over everything that made the functioning of the EU institutions until now.
Compared with previous nominations of the Commission’s president, the rules are already changed, as it is not possible to use a veto anymore in the Council. The decision will be taken by qualified majority.
Theoretically, nothing stops the leaders to choose an outsider — the name of Christine Lagarde, the head of the International Monetary Fund (IMF), is often heard—, after having “taken into account” the results of the parliamentary elections, in which case they are set for a head-on collision with the Parliament.
It is in this light that one can deconstruct the tone and the conclusion of a surprising lecture given by Christine Lagarde, the IMF boss in London: “Inequality Threatens Democracy”… Newspapers went with paeans like: “Christine Lagarde, best known for lending money to developing countries on the condition that the those states make policy changes—is taking on inequality too, warning in a speech Tuesday that rising inequality is threatening global financial stability, democracy, and human rights.” And so on...
The big game is easy to deconstruct: one should not think that Christine Lagarde, head of the international loan-sharking institution, is suddenly emulating Chomsky, or the Pope... She is, simply put, the ace up the sleeve of the Merkel-Hollande duo, who, with the complicity of other EU capitals, plot to eventually drop Lagarde at the head of the EU Commission.
The drawback is: she is under investigation in her own country, France, in the “Tapie affair”, over her role in a 2008 arbitration that awarded a massive 400 million euros state payout to controversial businessman Bernard Tapie. She was not yet charged, but appeared already in a French court...
All this show that the rules are not at all clear, that nobody knows what to do, and that everybody is trying to buy time.
There is even speculation that a compromise solution would consist in Juncker’s formally getting the job, in order to immediately resign on health reasons. This will then free the capitals of any debt towards the Parliament.
But the Parliament will have the last say, anyway. The deputies will have to approve the choice of the Commission president in July. In case of a contested proposal, a lot of debauching of individual MEPs will take place before then.
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Greece vs Nigeria
Head coach Paulo Bento has confirmed he will not risk either of the Real Madrid stars in Saturday's World Cup warm-up as they continue to recover from injury The Barcelona defender is optimistic about the Selecao's chances this summer and says that they do ...
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10 Things You Need to Know About Fernando Santos' Greece
Fernando Santos' Greece kick off their World Cup campaign against Colombia on 14 June 2014. Whilst they are certainly outsiders for significant World Cup success, a relatively favourable draw and an excellent team spirit mean that there is some cause to ...
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Greek Fest offers family fun, good food
The Greek Festival hopes to set an attendance record with two more days of good weather.
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Everything You Need to Know About This Year's Los Angeles Greek Film Festival
Greek ReporterEverything You Need to Know About This Year's Los Angeles Greek Film FestivalGreek ReporterBringing together the brightest Greeks in the entertainment industry, the 2014 Los Angeles Greek Film Festival (LAGFF) will showcase the best new films Greek filmmakers produced together with a variety of programs and special panels, June 4-8, at the ...
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Greek Festival makes Annapolis cry 'Opa!'
Boise WeeklyGreek Festival makes Annapolis cry 'Opa!'CapitalGazette.comHara dancers, ages 8-10 years old, perform traditional Greek dances in front of the Ss. Constantine and Helen Greek Orthodox Church in Annapolis on Friday evening while wearing traditional costumes hand made in the Island of Rhodes. Buy this photo.39th Annual Richmond Greek Festivalwtvr.comBig Greek Festival back in RandolphDailyrecord.comBuffalo Greek Festival starts Fridaywivb.comNJ.com -The News Journal -Rochester Democrat and Chronicleall 21 news articles »
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Jewish tombs desecrated at Greek cemetery
Thessaloniki (Greece) (AFP) - A dozen tombs have been desecrated at a Jewish cemetery in the northern Greek city of Thessaloniki, which was home to the country's largest Jewish community until World War II, police said Friday. Unidentified vandals broke into the cemetery on Thursday and damaged flower pots and tombs, prompting the foreign ministry in Athens to denounce an "attack on the Jewish community and on the Greek people." Authorities will "do everything possible to find and arrest the perpetrators of this anti-Semitic and hateful act which runs counter to the democratic values and tolerance of Greek society", Foreign Minister Evangelos Venizelos said in a statement. Jewish community leader David Saltiel "deplored and condemned" the attack, ANA news agency reported, adding however that it was an "isolated incident" that had nothing to do with anti-Semitic attacks carried out in other parts of Europe.
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The 90 Greek Beaches Greece Wants to Sell
The beaches of Elafonisos, location of the famous Pavlopetri marine archaeological site, are among 90 beaches in Greece expected to be privatized. According to Greek news, the Hellenic Republic Asset Development Fund (HRADF) is already inspecting various popular Greek beaches with a view for them to be sold as private property. Two coastal areas have already been sold, while more sales are being completed. Some of the beaches on the list for potential sale are: Yalova in Messinia, Tsampika and Agia Agathi in Rhodes, some of the most beautiful beaches in Halkidiki, Agios Prokopios in Naxos, Galissas in Syros and the accessible beach in Irakleia in the Cyclades. The coastal bill provides that the beaches in front of public property can even be exclusively used by the individual who will buy them, who will be able to prohibit any free access to the beach. Scroll below to see all the names of the 90 assets Greece is ready to privatize:
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Jodie Perry to leave Greece chamber
Jodie Perry to leave Greece chamberRochester Democrat and ChronicleJodie Perry, who has led the Greece Chamber of Commerce the past eight years, said Friday she is leaving that job to become CEO of the Richland Area Chamber of Commerce in Mansfield, Ohio. Perry's resignation takes effect at the end of June. An ...and more »
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It's Greek Festival time in Newport News
Tasty Greek dishes and music and dancing bring thousands each year to the annual Newport News Greek Festival.
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Papa John's goes Greek with new pizza
Papa John's goes Greek with new pizzaPizza Marketplace.comPapa John's has introduced a new Greek pizza, featuring pizza sauce, basil pesto, black olives, Roma tomatoes, pepperoni, feta cheese and mozzarella, and topped with banana peppers. It is now available for $12 through June 29. "When I was growing up, ...
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Olympiakos to Play in NY for First Time 27 Years
FLUSHING – Excitement is building throughout the NY Metropolitan area for the city’s first soccer match by Olympiacos in 27 years. The Greek mega team will face off in the inaugural match of the Guinness International Champions Cup against Italian giant AC Milan at Citifield on July 24. Eight of the world’s top teams will […]
The post Olympiakos to Play in NY for First Time 27 Years appeared first on The National Herald.
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Greece's Piraeus Bank posts loss as bad debt weighs
Piraeus reported a net loss of 247 million euros ($336.3 million), wider than the average forecast of 210 million euros from analysts in a Reuters poll. The bank booked a profit a year earlier due to a one-off 3.41 billion euro goodwill writeback on the ...
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‘Acropole Palace’ Hotel Reopens After Restoration
The historic “Acropole Palace” hotel in downtown Athens will be ready to use again in 2015, after the end of its ongoing restoration, as Lina Mendoni, general secretary of the Greek Culture Ministry said in the Central Council for Modern Monuments meeting on May 29. The historic building, located at the corner of Patission Str. and Averof Str. has been undergoing restoration since April 2013, funded by the National Strategic Reference Frameworks. According to Mendoni, the restoration is proceeding nicely and quickly and the renovated building will be used as a special venue for cultural events and programs. The original hotel was built in 1926 by the Greek architect Sotiris Magiasis. It has been one of the most important Greek buildings of the Art Nouveau architecture and in 1990 it was characterized by UNESCO as a shining example of “Art Nouveau” architecture in Europe. In 1973, during the Polytechnic revolt, the hotel and its basement hid many students, while renowned photographs and films of the era were taken from its balconies. Since 1977 the building has belonged to the Greek Ministry of Culture, which approved its restoration plan in 2008. However, after the major fire that broke out at the building in January 2012, modifications to the initial plan have been considered necessary. The modifications were discussed in yesterday’s Central Council for Modern Monuments meeting and were added to the existing restoration plan.
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