A historical Greek language newspaper in Turkey, Apoyevmatini, is set to close its office in Istanbul, which has housed it throughout its entire 90-year ...
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| READ THE ORIGINAL POST AT www.hurriyetdailynews.com |
How the world sees Greece
Monday, October 13, 2014
Historical Greek daily in Turkey to close office, but editor vows to keep going
Review: 1 More APT Production, a Greek Drama
But the classics-Shakespearean theater just opened its final production of the season, “Alcestis,” a Greek drama first produced in 438 B.C. and brought ...
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| READ THE ORIGINAL POST AT www.channel3000.com |
Illicit immigrants in Greece have to be screened for Ebola as soon they are arrested, or in the detainee centers, says Greek Minister of Health
The Greek Minister of Health opens by his statements the "scientific window" of checking the il...
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| READ THE ORIGINAL POST AT www.enetenglish.gr |
Greece still EU’s poverty leader
Greece led the poverty scale among its European peers once more last year, with 23.1 percent of its population being under threat of poverty, according to data published on Monday by the Hellenic Statistical Authority (ELSTAT). Taking into account the sha... ...
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Eurogroup chief cautious on early bailout exit scenario as political tensions rise
As discussions get under way between Greece and the International Monetary Fund about a potential early exit from the country’s bailout program, Eurogroup Chairman Jeroen Dijssebloem did not rule out the prospect on Monday but suggested that such a debate... ...
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Greece, Cyprus sign key deal for sea operations
Greece and Cyprus have sealed a bilateral deal allowing for joint search-and-rescue operations between the two Mediterranean allies. The agreement was signed Monday in Athens between Greek Foreign Minister Evangelos Venizelos and his Cypriot counterpart I... ...
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Kos I'm worth it: Greek island is perfect for a family holiday
This time I came back with a lilo that cost enough to prop up the entire Greek economy. But say what you like about the austerity-hit Greeks, what they ...
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| READ THE ORIGINAL POST AT www.mirror.co.uk |
Alexander the Great's FATHER found as tomb confirmed to contain King Philip II
The bones were first recovered in 1977 by Greek archaeologist Manolis Andronikos when he was excavating the mound, known as the Great Tumulus ...
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| READ THE ORIGINAL POST AT www.dailymail.co.uk |
Amal Alamuddin Clooney flies out to secure return of Elgin Marbles
... honeymoon was a wedding present to her movie star husband who, earlier this year, waded into the centuries-old dispute, favouring the Greek side.
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| READ THE ORIGINAL POST AT www.dailymail.co.uk |
Ancient Greek bling: The gorgeous golden jewellery found in a pre-Christian tomb
Dating back to the third century BC the well preserved tomb was discovered in 1982 and reveals that the culture was inspired by Hellenistic Greek, the ...
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| READ THE ORIGINAL POST AT www.dailymail.co.uk |
Greek Bronze Age may have ended 100 years earlier than thought
Historical chronologies traditionally place the end of the Greek Bronze Age at around 1025 B.C., but research suggests a date 70 to 100 years earlier.
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| READ THE ORIGINAL POST AT www.sciencecodex.com |
AFM rescues five migrants off Greek islands
The AFM is currently operating out of the Greek island of Lesvos and while on routine patrol at 8:50am, the crew of the Fast Interceptor Craft (FIC) P02 ...
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| READ THE ORIGINAL POST AT www.maltatoday.com.mt |
Economic hardship worsens for Greeks despite easing recession
ATHENS (Reuters) - More than 20 percent of Greeks could not afford basic comforts last year, nearly double the number in 2010 when the country's ...
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| READ THE ORIGINAL POST AT au.news.yahoo.com |
The Genius Who Thought The Greek Hell Was Located in Sweden
Unfortunately, "everything" included convincing himself that Hades, the Greek land of the dead, was located in Sweden. Olof Rudbeck had a lot of ...
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| READ THE ORIGINAL POST AT io9.com |
Floor Mosaic Adds to Mystery of Ancient Greek Tomb
The mystery of who may be buried in an enormous ancient Greek tomb has bewildered archaeologists for months, and now a newly discovered floor ...
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| READ THE ORIGINAL POST AT www.natureworldnews.com |
Our lady Lorde rocks the Greek Theatre
New Zealand singer-songwriter Lorde made a Hollywood-worthy appearance this week in Los Angeles during a two-night stop at the Greek Theatre.
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| READ THE ORIGINAL POST AT www.laloyolan.com |
Things you didn't know you could do with Greek yogurt
Greek yogurt, a variety made by straining off some of the liquid whey that gives regular yogurt its thinner texture, has become incredibly popular over the past few years. This is due, in part, to its high protein content; a six-ounce cup of Greek yogurt ...
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| READ THE ORIGINAL POST AT www.foxnews.com |
Ranieri dimisses Greece pressure
Claudio Ranieri has laughed off suggestions he is already fighting to save his job as Greece coach. The former Chelsea and Monaco boss, in his first ...
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| READ THE ORIGINAL POST AT www.fifa.com |
Greece might get more credit from EU after bailout exit
Greece might secure a further safety net of credit from its euro zone partners if it manages to meet the strict terms required to exit its bailout at the end of this year, a source close to discussions ...
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| READ THE ORIGINAL POST AT finance.yahoo.com |
KESHET INTERNATIONAL'S YOUR FAMILY OR MINE, ADAPTED FOR GREECE
Cannes -- Keshet International's family sitcom Your Family or Mine is soon to launch in Greece following an adaptation deal with one of the country's ...
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| READ THE ORIGINAL POST AT www.multichannel.com |
Finance ministers delay discussion on Greek bail-out exit
Eurozone member states discussed options for building a huge pan-eurozone investment scheme, though provided little detail on where the money would come from or when it would be available.
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| READ THE ORIGINAL POST AT www.europeanvoice.com |
NI focused on getting winning gift in Athens
Northern Ireland manager Michael O'Neill is not getting carried away by the prospect of making history in Greece, but is quietly confident his side can achieve their Euro 2016 ambition. O'Neill has led the team to successive victories over Hungary and the ...
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| READ THE ORIGINAL POST AT www.rte.ie |
'Mystery tomb' in Greece reveals mosaic of Greek god Hermes
Archaeologists have discovered a mosaic floor depicting the Greek god Hermes as a charioteer, Greece's Culture Ministry announced Sunday.
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| READ THE ORIGINAL POST AT theweek.com |
Mobile phone spectrum sale to fetch 381 mln
Greece will raise 381 million euros from the sale of mobile phone frequencies to its biggest telecom operator OTE, Vodafone and Wind Hellas, the minimum price set in the tender, its telecoms regulator said on Monday. The sale is part of a 22-billion-euro ... ...
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Greek bonds slide despite success of confidence motion
Greece’s bonds slid on Monday even as Prime Minister Antonis Samaras won the confidence motion he called to head off an opposition challenge. Rates on Greece’s 10-year bonds jumped 11 basis points to 6.71 percent, ending a two-day drop. Yields on the nati... ...
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Clinic Director Arrested for Bribery
The Director of the Gynaecological Clinic of «Agios Dimitrios» hospital in Thessaloniki, Greece, has been arrested earlier this morning, as he demanded a payoff in order to proceed with one of his patient’s surgery. The doctor, who asked for 50 euros and is now facing charges of bribery, was given the marked note of 50 euros during an arranged meeting with his patient, who has earlier filed a complaint against him. Straight after he received the marked note, Greek Police arrested the doctor and found the marked note in his possession. This was the second bribery incident in a Thessaloniki public hospital within a short period of time and the officials appear worried by the frequency of such instances. Last month, police arrested the director of the Pediatric Surgery Clinic of «G. Genimatas» Hospital in Thessaloniki after a complaint from a patient that the doctor would not proceed with the necessary operation unless he would bribe him with 1,000 euros. The defendant -who was an academic doctor- appeared before the prosecutor and was later released from custody with a 10,000-euro bail.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Amal Alamuddin to tour Acropolis as she advises Greece on return of Elgin Marbles
Campaigners calling for the return of the Elgin Marbles from the British Museum to Greece hope that the involvement of Amal Alamuddin will break the decades-old deadlock on the issue. Ms Alamuddin, who last month married George Clooney in a lavish, four ...
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| READ THE ORIGINAL POST AT www.telegraph.co.uk |
Portugal coach Fernando Santos has touchline ban put on hold after appealing to sports court
by Associated Press Portugal coach's touchline ban on hold amid appeal by The Associated Press, Associated Press - 13 October 2014 13:42-04:00 Portugal's new coach Fernando Santos has had an eight-game touchline ban put on hold by the Court of Arbitration for Sport. The court said Monday in a statement that the former Greece coach can perform his coaching duties until the arbitration process concludes, which is expected to happen by the end of November. Santos's heavy sanction came after he verbally abused match officials during Greece's second-round elimination by Costa Rica at the World Cup in June. Santos was banished from the dugout after extra time, which finished 1-1. Greece then lost the penalty shootout. Santos will now be on the touchline on Tuesday when Portugal plays away against Denmark in European Championship qualifying. News Topics: Sports, Soccer, Men's soccer, Men's sports People, Places and Companies: Portugal, Greece, Western Europe, Europe Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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| READ THE ORIGINAL POST AT www.neurope.eu |
With a New Name, Amal Clooney Gets Back to Work
Her agenda: discussing Greece's long-running, ill-fated bid to win back a collection of classical Greek marble sculptures variously known as the ...
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| READ THE ORIGINAL POST AT www.people.com |
Michael O’Neill cautious but confident ahead of Greece clash
Northern Ireland manager Michael O’Neill is not getting carried away by the prospect of making history in Greece, but is quietly confident his side can achieve their Euro 2016 ambition. O’Neill has led the team to successive victories over Hungary and ...
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| READ THE ORIGINAL POST AT www.irishtimes.com |
Family of solider killed in 1998 mine blast to receive 350,000-euro compensation
The family of an army mine-clearer who was killed while trying to disarm a landmine in Evros, northern Greece, in 1998, has been granted 350,000 euros in compensation. The Council of State, the country’s highest administrative court, on Monday ruled again... ...
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Bourse throws effort into just staying afloat
Efforts to maintain the 1,000-point level of the Greek stock exchange’s benchmark paid off for a second day in a row on Monday, though the focus on this defensives approach illustrates the extent to which the market has run out of steam. The Athens Exchan... ...
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Ombudsman slams police for wrongly detaining citizen
Greece’s Ombudsman has condemned the Greek Police (ELAS) over the alleged detention of a citizen who was mistakenly taken for a fugitive criminal and held for eight days. It called on Public Order Minister Vassilis Kikilias to arrange for the victim to be... ...
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Does this enormous mosaic confirm that Alexander the Great's mother lies inside Greece's mystery ...
An imposing mosaic of a man driving a chariot has been uncovered in the largest antique tomb ever found in Greece. The find in Amphipolis, ...
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| READ THE ORIGINAL POST AT www.dailymail.co.uk |
Amal Alamuddin as the Deus Ex Machina
It seems that the spirit of ancient Greece has come to the rescue of suffering, debt-stricken, contemporary Greece. How else can one explain that soon after one of the world’s largest archaeological discoveries in Amphipolis, a group of prominent English lawyers is coming to Greece to help the Greek government recover the Parthenon marbles which the British Museum has indefinitely “borrowed.” Until recently, 36-year-old Amal Ramzi Alamuddin was a barrister at Doughty Street Chambers, a powerful London law firm. The British-Lebanese woman was also an author and activist. As of last month though, she became internationally known as Mrs George Clooney. And as of today, let’s add that she is a philhellene too. Fresh from her honeymoon with one of the world’s most desired men, she rolled up her sleeves and came to help Greece recover the Parthenon marbles from Great Britain. Her involvement with the case though had started back in 2011 when Australian archaeologist David Hill, head of the International Association for the Reunification of the Parthenon Marbles, asked cultural heritage issues lawyer Norman Palmer to explore whether Greece had grounds for legal recourse. Palmer in turn convinced Australian Geoffrey Robertson, one of the biggest names in similar international cases, to join the team and so began investigations into British law and the options Greece had. Two Greeks associated with Doughty Street Chambers seem to have played a crucial role in her decision to pursue the matter further: Award-winning cinematographer Phedon Papamichael and Andreas Michaelides, the law firm’s head of finances. The troika of lawyers — to use a recently popular catchword — who arrive in Athens today with Alamuddin at the helm, will meet with Prime Minister Antonis Samaras, Deputy Prime Minister and Foreign Minister Evangelos Venizelos and Culture Minister Kostas Tasoulas to discuss the legal procedures Greece has to follow in order to bring back the famous sculptures and re-unite them with the remaining ones in the new Acropolis Museum. This is a splendid opportunity for Greece to follow the legal steps needed in order to regain a precious part of its rich cultural heritage. So far, only vague moves have been made to that effect. For many years, the return of the marbles was a subject of academic discussion rather than specific, decisive actions. As it is often the case with Greek politicians, they form committees, the committees convene for hours, the participants talk forever and at the end nothing gets done. Several politicians in the past have claimed that they “fought” to bring the marbles back but the only fight they gave was to publicly blurb their wishes. It is also a great opportunity for the struggling coalition government to achieve an important national success. If Samaras manages to bring the precious marbles back, it will be one of the biggest political victories ever. And it will certainly bring some much-needed votes. That probably explains the anxiety that prevails in the government headquarters over the famous lawyer’s visit. Allegedly, there is puzzlement over what gift to offer Mrs Alamuddin-Clooney. In ancient Greek tragedies, when the protagonist found himself at an impasse, unable to come out of a life-threatening situation, the problem was resolved by the deus ex machina. A god in some form or shape was coming from above to save the hero or heroine. Let’s hope then that Mrs Alamuddin will act as a true philhellene and play the role of the deus ex machina who will indeed help Greece restore the sculptures and its wounded pride.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
ELSTAT: 2.5M Greeks Facing Poverty Risk
Villages across Greece are facing financial difficulties due to the financial crisis that has hit the country. The hard situation is also reflected in the numbers, according to Hellenic Statistical Authority (ELSTAT). The annual survey on income and living conditions in Greece which is carried out by ELSTAT showed the deterioration of living conditions and living standards in Greece from 2010 to 2013. According to the survey, the percentage of people who face financial difficulties and lack basic goods such as central heat, laundry machines, the ability to pay bills, or even certain types of food necessary for a balanced and healthy diet such as meat or fish, exceeded 20%. The Greeks who are mostly affected by the situation are elderly people over 65. This survey is the basic source for comparative statistics regarding income distribution and social exclusion. The poverty threshold is 5,023 euros per year per person and 10,547 euros for households with two adults and two dependent children under the age of 14. In 2013, 23.1% of Greece’s population was facing the risk of poverty, while the poverty line is set at 60% of the median total household income.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Migrants in Greece Claim Police Target Them
ATHENS —. Greece is a main entry and transit point for African, Asian and Middle Eastern migrants desperate to get to Europe in search of protection ...
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| READ THE ORIGINAL POST AT www.voanews.com |
Hellenic Railway to Reach Nafplio
Within the next six months, the Greek railway line connecting Nafplio, Argos and Corinth is expected to reopen. The head of Hellenic Railways Organization (OSE) Panayiotis Theofanopoulos assured the Mayor of Nafplio that the existing rail network and terminal will be restored and renovated, during his visit to the city along with Greek Environment Minister Yiannis Maniatis. During the meeting held at the Nafplio City Hall, Maniatis stressed that the Greek government had every intention of reopening Nafplio’s railway line as an extension of the suburban railway that connects Corinth with Athens. Nafplio’s Mayor appeared satisfied with the government’s plans and noted: “Local authorities have constantly requested the operation of the railway station in order to meet the demands and needs of our citizens. Any difficulties and obstacles have been surpassed and as a result we are able to announce that the station will be reopened and the train will once again pass from Nafplio.”
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
60-Year-Old Greek Woman Buries Her Mother Under the Porch
The unprecedented case of a woman who buried her mother under their house’s porch is slowly unravelling, shocking people in Kalamata and across Greece. It was determined that the 60-year-old woman who lived in the village of Megali Mandineia buried her mother under their home and attempted to commit suicide two months later. According to locals, the relations between the two women were very good, while police believe that if the 80-year-old woman’s death is proven to be a murder, then the only possible incentive behind it would be the mother’s pension which was their only means of survival. Since July, the old woman had been facing serious health problems and was often hospitalized at the Kalamata Hospital. On August 10, however, the doctors advised the deceased’s daughter to take her home since there was nothing more they could do. Since that day, no one saw the 80-year-old woman again. According to locals, her daughter started acting suspiciously while also spread rumors that she was planning on sending her mother to an elderly home. According to Greek news, the 60-year-old woman visited the Hospital of Kalamata last Friday and purchased sleeping pills. She then returned home, locked all doors and windows, and consumed a large amount of pills. Her neighbors got suspicious of her odd behavior and contacted Greek Police who were able to break into the house in the presence of a prosecutor. The police officers located the woman who was in a coma due to the pills she had consumed. She was rushed to the hospital were doctors were able to revive her. However, police were not able to locate her mother. During the search, they found that a part of the porch had been rebuilt and after further investigations it was revealed that the 60-year-old woman had buried her mother under the porch two months ago. The elderly woman was found wrapped in linen and tied with tape. Her body was transferred to the Forensic Service at the Hospital of Corinth were doctors are performing an autopsy to determine if she died of natural causes or if she was murdered. Since the beginning of this ordeal, police have been interrogating the Albanian worker who built that specific part of the porch.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Greece is Exiting the Memorandum, Govt Spokeswoman Says
Greece is close to exiting the Memorandum of Economic and Financial Policies singed with the International Monetary Fund (IMF) and this will not have an impact on fiscal figures or increase the debt and the deficit, government spokeswoman Sofia Voultepsi said earlier today to Greek TV station “ANT1.” While keeping a low profile regarding the ongoing negotiations with the IMF, Voultepsi appeared optimistic, arguing at the same time that Greece should avoid sending the message to the markets that its economy is returning to the troubled condition it was during the previous years. “We have to continue with our own program, which will not be the program of close monitoring that we have had until now. We are not talking about a disorderly situation. We are talking about a situation that meets the market’s needs. We should not send a message abroad and to the markets that Greece is returning to the previous situation. We must not backslide,” she said, adding that tax breaks are in the governmental agenda. This was the first official statement made by a cabinet member following yesterday’s meeting between Greek Finance Minister Gikas Hardouvelis and IMF Managing Director Christine Lagarde in Washington D.C.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Greece to get 381 million euros from mobile phone spectrum sale
It will help upgrade telecom services in Greece - a market hurt by intense competition among operators and falling usage amid a recession. The three ...
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| READ THE ORIGINAL POST AT www.reuters.com |
Greece starts IMF exit talks
Greece has begun talks for ending IMF aid to the country, but is set to continue to have routine post-bailout reviews by the Washington-based group, ...
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| READ THE ORIGINAL POST AT www.taipeitimes.com |
The old-world charm of Greece's endangered outdoor cinemas
Open-air cinemas in Greece have long met moviegoers' demands, even profiting, to some degree, from the country's financial struggles. A night at the ...
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| READ THE ORIGINAL POST AT theweek.com |
Greek Teens Experience Sex at the Age of 14
Greek teens start their sexual life at the age of 14, while at the same time they avoid using condoms or other required methods of protection with undesirable results, shows a research conducted by the Paediatric and Adolescent Gynaecology Clinic of Hospital «Alexandra». Doctors say that apart from their early sexual experiences, Greek teenagers tend to contract Sexually Transmitted Diseases (STDs) more than their foreign coevals, when only a few years ago this percentage was well below the international average. Yet, 78% of them state that they make use of condoms but only 42% use it regularly. The results are shocking: amongst 149 sexually active girls aged 13 to 19, 62 of them (42%) were found positive in one form of HPV virus and yet another 30 positive in more than one forms of it. “It is possible that they have more than one sexual partners” says the Clinic’s director Lina Michala to Greek newspaper “Kathimerini,” adding that “5% – 6% of teenagers from the age of 15 to 19 years have been infected by Chlamydia.” In addition, according to another research by the Adolescent Welfare Unit of the Second Pediatric Clinic of Athens University Hospital based on 1538 school pupils in Attica prefecture, 8,2% of them have unprotected sex and the same percentage of girls have taken the so called «morning after pill» at least once. “Grown up women seem to understand that the pill does not protect them from STDs. On the contrary, this is not the case when it comes to younger girls. It is not an exaggeration to say that they use the morning after pill as if it was candy,” specialists conclude. The same research shows that while the majority of pupils have their first sexual experience at the age of 14, 5,7% of them have already experienced sex at 12 and 10,2% at the age of 13.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Hermes Mosaic Unearthed at Ancient Greek Tomb
An elaborate and colorful mosaic showing the Greek god Hermes leading a man to the underworld has been uncovered in a vast tomb from the era of Alexander the Great, Greek archaeologists announced. Appropriately for a tomb, the mosaic depicts a horse-drawn chariot led by Hermes as "psychopomp," or spiritual guide to souls in the afterlife, according to the Greek Ministry of Culture.
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| READ THE ORIGINAL POST AT news.yahoo.com |
Germany's Austerity Obsession Could Take Down The Global Economy
Austerity is the opposite of the gift that keeps on giving: It just keeps taking and taking. Germany, the world's homeland for austerity obsession, is learning this firsthand. Its economy has hit a rough patch lately, likely worsened by its adamant refusal to spend just a little bit more money to keep things moving. This has Europe on track for its third recession since 2008, which has raised the threat of a global economic slowdown, which has rattled financial markets from Hong Kong to New York. Thanks, Germany! Thanks, austerity! Germany last week reported its biggest one-month plunge in factory orders since the bad old days of the 2009 recession/depression, as you can see from this chart from TradingEconomics.com: Germany also posted its biggest one-month drops in industrial output and exports since 2009. Germany is Europe's economic engine, and it appears to be driving the continent right into a recession. Take a look at the red line on this recent chart from Citi Private Bank showing how corporate spenders in various parts of the world feel things are going: After decades of pinching deutsche marks, Germany is pretty much the only country in Europe with the spare cash to throw at this problem, as you can see from this chart by research firm Pantheon Macroeconomics (h/t Business Insider): Global economic leaders at International Monetary Fund meetings in Washington this past weekend hammered on Germany to spend some of its money, already. But German Finance Minister Wolfgang Schaeuble declared that "writing checks" won't fix economies and even urged France and Italy to take on more austerity. Schaeuble's refusal to change is the latest example of a long-lasting German fetish for austerity, tracing back to the years after World War I, when inflation got so bad that Germans toted cash in wheelbarrows. Germany's economic psyche was so scarred that it vowed to avoid inflation forever. Sounds reasonable, and that approach has worked out well for Germany -- until recently. For the past several years it has resisted using its cash stockpile to help itself or its neighbors, despite an ongoing depression, and it has insisted that its neighbors be just as austere as Germany, plainly worsening the depression. It's a pathology that pretty much everybody else in Europe and the world now sees, but Germany refuses to admit -- even though its infrastructure is starting to crumble along with its economy. So it falls on the European Central Bank to try to keep Europe's economy afloat -- but Germany is fighting that, too. ECB chief Mario Draghi wants to try out some Federal Reserve-style bond-buying soon, but the head of Germany's Bundesbank is kicking and screaming against the idea, causing a distracting rift at the top of the central bank. Austerity fever -- egged on by a now-discredited research report that claimed government debt is bad for economies -- has been hurting economies around the world since the Great Recession. Countries on Europe's periphery like Greece and Italy have been forced to swallow painful economic reforms, worsening their depressions. In the U.S., the harshest government-spending cutbacks since the end of the Vietnam War have hurt growth, too, though the effects haven't been nearly as strong as in Europe. Still, a lack of funding for medical research in the U.S. is a big reason we don't already have an ebola vaccine, the Huffington Post's Sam Stein reported. Austerity just keeps finding imaginative new ways to be terrible.
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Statoil sells Azerbaijan share for dividends
by Kostis Geropoulos Norway’s Statoil has exited the Shah Deniz field, selling its remaining 15.5% stake in the gas project in Azerbaijan to Malaysia’s Petronas for $2.25 billion. Statoil will retain an 8.56% stake in the Azeri, Chirag and Gunashli oilfield in Azerbaijan (ACG) which is operated by BP and a 20% stake in the Trans Adriatic Pipeline (TAP), which will transport Azeri gas to European markets via Greece and Albania to Italy. Statoil has been selling assets to shore up returns to shareholders, facing rising costs and, in recent weeks, falling oil prices. The deal on October 12 also includes its 15.5% share in the South Caucasus Pipeline and 12.4% share in the Azerbaijan Gas Supply Company (AGSC). Its second-quarter production from the Shah Deniz field was 38,000 barrels oil equivalent per day, Statoil said. Currently, the partners for the development of the Shah Deniz field are: British BP (28.8%), Iran’s NICO (10%), French Total (10%), Russia’s LUKoil (10%) and Turkish TPAO (9%), SOCAR (16.7%). Earlier, Total sold its 10% share in the project to TPAO and after the completion of the transaction, the share of the latter in the project will be equal to 19%. “The divestment optimises our portfolio and strengthens our financial flexibility to prioritize industrial development and high-value growth,” said Lars Christian Bacher, executive vice president for Development and Production International in Statoil. “We remain committed to our business in Azerbaijan, which continues to play an important role in Statoil’s international portfolio,” Bacher added. The transaction is expected to be closed early 2015, subject to approval from the relevant authorities. The Shah Deniz oil field was discovered in 1999 and is about 64 kilometres southeast of Azeri capital Baku. The field began production in 2006. See also: Albania counts on TAP for gas hopes Italy, Greece approve TAP environmental studies
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| READ THE ORIGINAL POST AT www.neurope.eu |
Greece's Early Bailout Exit Plan Sparks Euro-Area Doubts
Euro-area finance ministers expressed doubts about Greece's plan to exit its rescue program early, highlighting a clash between Greek political ...
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| READ THE ORIGINAL POST AT www.bloomberg.com |
Jean Tirole wins Nobel prize in economic sciences
Full reaction, as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel is won by French economist Jean TiroleSummary: Tirole recognised for work regulating big business 4.30pm BST And thats a good time to stop. 4.28pm BST And finally, over to the man himself.The Nobel Prize team have uploaded in interview with Jean Tirole, in which he explains how he told his wife about his win, and then his mother:Oh, I first, to be honest, she is 90 years old and I first ask her to sit before I told her of the news. [Laughs] So, but yes, she was, my mother used to be a teacher, French and Latin and Greek teacher. You know, knowledge is very important to her, very important. And of course, for my wife and my children also. I see one of my daughters is on Skype with me from London and in fact it is actually quite moving for the whole family of course.Jean-Jacques Laffont passed away.. and deserved to be with me today in this Prize for regulation and competition policy. 4.19pm BST Now the Nobel awards are over, Swedish newpaper The Local has announced its Alternative Nobel Prize list.Heres a flavour:Worst Example of Gender Equality: We werent impressed by the not-very-noble fact that there were only two female winners out of a total 13 laureates. But considering there have been hardly any women Laureates at all in the past, were moving in the right direction. Most Helpful Simile: The Nobel Committee in Chemistry did a good job in helping us all understand the laureates work with microscope and molecules. They compared it to looking at a city of buildings but not being able to see the people inside them. The laureates work allowed us to see these people inside. Still dont get it? Read more. 4.12pm BST 4.00pm BST European Commission Vice President JoaquÃn Almunia, who leads competition policy across the EU, has warmly congratulated Jean Tirole. Almunia, who has probed Google for years and announced huge fines on Europes banks for market abuses, says Tiroles work has made a difference.For competition enforcers, his work has been of major importance. He is one of the sharpest economic theorists having contributed to our understanding of market power and how regulation may effectively curb it. We owe Jean Tirole so much. His work has been central to the economic analysis underpinning many of our instruments in competition policy and beyond. This includes work on vertical agreements, mergers, competition in network industries and so much more. I finally also wish to pay tribute to Jean Tiroles renowned humility. 3.50pm BST OK, heres your homework, class.The Council for Foreign Relations has rounded up links to many of Jean Tiroles papers on competition policy and regulation. Theyre looking for intelligent comments on them too: 3.36pm BST Heres another photo showing Jean Tirole, right, being congratulated by colleagues at the Toulouse School of Economics: 3.35pm BST Over in Quartz, Tim Fernholz has explained how Jean Tiroles work has plenty of applications for politicians grappling with new technology.Used correctly, it helps governments get to grips with new platforms such as Netflix, and understand why some software is released under open source licences.In countriesindeed, in most of the worldwhere it is assumed that market competition generates the most prosperity, there are still markets that allow monopolies or near-monopolies: communications and transportation networks, military materiel, natural resources. Governments need strategies to regulate monopolistic behavior and prevent dominant companies from jacking up prices on everyone, but they also need to avoid forcing prices so low as to make the business unsustainable. 3.20pm BST Jean Tirole has enjoyed a heros welcome back in Toulouse, as this photo shows:Standing ovation for Jean Tirole Nobel 2014 in Economics @TSEinfo @UT1Capitole pic.twitter.com/xQdtPbod4P 3.19pm BST If you missed todays announcement, dont worry. The Nobel Prize team have done a brilliant job uploading video clips explaining why Jean Tirole won.Here are some of the best:Announcement of the 2014 Prize in Economic Sciences #nobelprize2014 http://t.co/fSgeGz84Z2"They don't dominate the market because they are productive" #nobelprize2014 http://t.co/ouHrnT6HrLThe bright side and the dark side #nobelprize2014 http://t.co/YfIyuz1E19"The beauty of Tirole's work" #nobelprize2014 http://t.co/JJyDNetMaP 3.09pm BST Our economics editor, Larry Elliott, is on sparkling form explaining why Jean Tiroles work deserves such recognition.Heres a flavour:It could be argued that Googles Eric Schmidt is as powerful today as John D Rockefeller was when he was at the helm of Standard Oil. Booksellers worry about the dominance of Amazon.What the judges liked about Tirole was that his work goes beyond dispensing general advice to regulators about how to prevent market abuses. Rather, he insists that there is no one size-fits-all solution, and that each industry must be regulated according to its own structure. What is needed for banking will differ from whats needed for the online search sector. 3.02pm BST French Prime Minister Manuel Valls has also welcomed Frances double success at this years Nobel awards, tweeting that:After Patrick Modiano, another Frenchman in the firmament. Congratulations to Jean Tirole. A thumb in the eye for French bashing, Après Patrick Modiano, un autre Français au firmament : félicitations à Jean Tirole! Quel pied-de-nez au french bashing ! #FiersdelaFrance 2.56pm BST George Cooper, the financial author (see previous post), agrees with Tyler Cowen that the Swedish Academy have made a good choice.Handing the prize to Jean Tirole, for his work on effective regulation, is an implicit recognition that markets are not efficient and that regulation is necessary, said Cooper. Moving beyond the efficient market hypothesis (EMH) dogma is a is sign of progress. 2.49pm BST Danny Blanchflower, labour market economist and former Bank of England policymaker, has criticised the choice of Jean Tirole.He suggests that the judges should reward economists who discover actual laws that work in the real economy, rather than those who merely theorise:more theory =about time the Nobel econ committee started to award prizes to people who discover empirical facts about how the world worksIf economics is to be considered a science there ought to be some fundamental empirical laws - so what are the patterns in the data?the internal inconsistencies between economic theories - the apparently unresolvable debates between leading economists and the incoherent policies of our governments - are symptomatic of economics being in a crisis..... 2.30pm BST A nice photo of Jean Tirole at work:Jean Tirole, French professor of economics, banking and finance wins 2014 Nobel Prize for Economics pic.twitter.com/NUtFsZdnM1 2.29pm BST Its been a good few days for France -- Tirole follows compatriot Patrick Modiano, who won the Nobel Prize for Literature on Thursday. Can this be the same France that was dismissed as a washed-up, finished economy by the boss of UK retail chain John Lewis earlier this month? French men have now won this year's Nobel Prize for both Literature and Economics - no comment as yet from John Lewis 2.26pm BST Congratulations to French professor Jean Tirole, who has been awarded the 2014 Nobel Prize in Economics! #nobelprize2014 2.21pm BST Tyler Cowen also explained how Jean Tiroles work examines how contractors can sometimes sting governments by demanding extra fees to deliver a contract on time:Another good passage about Tirole's work from @tylercowen http://t.co/WdikAmDIeQ pic.twitter.com/3J1Hs1ZpGm 2.16pm BST An excellent and well-deserved pick.Thats how US economics professor Tyler Cowen, of George Mason University, responded to the news that French professor Jean Tirole has won the Sveriges Riksbank Prize in Economic Sciences.A theory prize! A rigor prize! I would say it is about principal-agent theory and the increasing mathematization of formal propositions as a way of understanding economics. He has been a leading figure in formalizing propositions in many distinct areas of microeconomics, most of all industrial organization but also finance and financial regulation and behavioral economics and even some public choice too. He is a broader economist than many of his fans realize.Tirole is a Frenchman, he teaches at Toulouse, and his key papers start in the 1980s. In industrial organization, you can think of him as extending the earlier work of Ronald Coase and Oliver Williamson with regard to opportunism and recontracting, but applying more sophisticated and more mathematical forms of game theory. Tirole also has been a central figure in procurement theory and optimal contracts when there is asymmetric information about costs. The idea of mechanism design runs throughout his papers in many different guises. Many of his papers show its complicated, rather than presenting easily summarizable, intuitive solutions which make for good blog posts. That is one reason why his ideas do not show up so often in blogs and the popular press, but they nonetheless have been extremely influential in the economics profession. He has shown a remarkable breadth and depth over the course of the last thirty or so years.....You should read @tylercowen on Jean Tirole http://t.co/WdikAmDIeQ h/t @JHWeissmann 2.09pm BST Heres our City editor Jill Treanor on todays award:Jean Tirole the French economist who has used game theory in an attempt to find ways to control the dominance of major companies has won the Nobel prize for economics.Tirole, of the University of Toulouse, said he was very grateful for the award for his work on taming powerful firms.Jean Tirole wins Nobel prize for economics 2014 http://t.co/qDBVdCyKxx 1.48pm BST Pierre Moscovici, the former French finance minister, has offered his congratulations to Jean Tirole.Moscovici, who is now joining the EU commission as finance chief, adds that Tiroles work informs the paths we need to follow to get out of the crisis.Bravo à Jean Tirole, prix Nobel d'économie, dont les travaux éclairent les chemins que nous devons suivre pour sortir de la crise 1.34pm BST Tore Ellingsen, permanent secretary of the Royal Swedish Economy, has given an interview explaining that Jean Tirole won his prize for his work on market power and regulation.Small firms want to become big. But once you are a big firm, the profit market is maybe not benign. You may want to dominate the market, to exploit your customers, to exclude competitors.So the question is, what kind of regulation and competition policy do you want to put in place, so that large and mighty firms will act in societys best interests. 1.13pm BST The Swedish Academy also produced a nifty graphic, showing how regulators can struggle to keep a monopoly in check if they havent got all the information the need (thus the blindfold): 1.07pm BST Professor Jean Tirole of the Toulouse School of Economics in France, has been awarded the prestigious Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.Tirole showed theoretically that such rules may work well in certain conditions, but do more harm than good in others. Price caps can provide dominant firms with strong motives to reduce costs a good thing for society but may also permit excessive profits a bad thing for society. Cooperation on price setting within a market is usually harmful, but cooperation regarding patent pools can benefit everyone. The merger of a firm and its supplier may encourage innovation, but may also distort competition. 12.44pm BST Winning the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel is clearly an emotional moment - the highlight of many glittering careers...."It took me half an hour to recoup from the call" Jean Tirole on being awarded the Prize. http://t.co/B0vLAKQGhM's interview coming up soon! 12.43pm BST BREAKING NEWS: #nobelprize2014 in Economic Sciences to French Jean Tirole @UT1Capitole pic.twitter.com/nIPAU05eTo 12.40pm BST The Swedish Academy of Sciences are collecting messages of congratulation to Jean Tirole, here. 12.37pm BST And that was the end of the press conference - Jean Tirole heads off to celebrate. 12.37pm BST Last question -- is this effectively a political choice, given that regulating Europes banking sector is such a hot topic today?The Academy give a cute answer -- it is not to a very large extent a political choice. 12.32pm BST The plaudits are coming in....Congratulations to Jean Tirole for winning the Nobel Prize for #Economics. 12.29pm BST Why Tirole, and why now?The Academy explains that the area of mergers, cartels, and monopoly regulation has become much more important since the 1980s, when government began to deregulate natural monopolies. 12.24pm BST And how can your work be used in banking sector, professor?Tirole cites the lessons of the financial crisis, which showed how counterparty risk fuelled the near meltdown of the banking system. 12.20pm BST Professor Tirole is asked how his work can be used to keep a web giant like Google in check.Tirole explains that his team have shown is that the antitrust economics of such markets, such as web search or credit/debit card supply, are different from other economies. 12.14pm BST Tirole is on the telephone line now -- saying that he is so moved by the award that he may not be able to answer questions. But hell try. 12.13pm BST The Royal Swedish Academy of Sciences says Tirole is one of the most influential economists of our time.One of our greatest living economists, who has made a huge contribution to economics.Many industries are dominated by a small number of large firms or a single monopoly. Left unregulated, such markets often produce socially undesirable results prices higher than those motivated by costs, or unproductive firms that survive by blocking the entry of new and more productive ones.From the mid-1980s and onwards, Jean Tirole has breathed new life into research on such market failures. His analysis of firms with market power provides a unified theory with a strong bearing on central policy questions: how should the government deal with mergers or cartels, and how should it regulate monopolies? 12.11pm BST Tirole, working with other economists, helped to analyse how regulators are hampered by asymmetric information -- ie, the big company has a better idea about whats happening in their market than the regulator themselves. 12.09pm BST Tirole, of Toulouse University, has received the award for his work on how to regulate large firms, the Academy explains.He has played a major role examining competition, and analysing how large firms should be regulated to prevent consumers being damaged by monopoly behaviour. 12.05pm BST And the winner is: Jean Tirole, the French economist, for his work on market power and regulation.He is being recognised for his work taming powerful firms. 12.02pm BST Staffan Normark, Permanent Secretary of the Royal Swedish Academy of Sciences, is announcing todays choice - in Swedish and then English..... 12.01pm BST Here we go...... 11.57am BST Youngest Nobel prize winner in economics was 51. Don't expect a #MalalaYousafzai today. 11.55am BST Just five minutes to go!Reminder, theres a live feed from Stockholm playing at the top of this blog (also streaming on YouTube here) 11.51am BST Twitter is buzzing with guesses too:Economics Nobel prize in 15mins, any guesses ? Stanford's Mark Granovetter is my guess for winner this year.Econ Nobel predictions http://t.co/pyR4taKOlL My econ Nobel prediction in two words: Ben Bernanke. 11.38am BST Tension is building in the Royal Swedish Academy of Science, in Stockholm, as the clock ticks towards noon BST.If you play the embedded video at the top of this page, you can hear the quiet chatter in the Session Hall. 11.29am BST And heres a fine chart from our Graphics department, showing the history of the Nobel Prizes in numbers: 11.19am BST Stockholm-based journalist Oliver Gee has crunched the numbers:What's 2 percent likely to be a woman, 67 years old, and 8 million kronor richer? The average Nobel Laureate for Economics. 11.02am BST The Nobel Prize team must have known wed have some dead air to fill before the winner is announced in an hours time, as theyve created a list of facts about previous winners.#NobelFacts 43 of the 74 Laureates in Economic Sciences (1969-2013) are born in USA, that is 58% pic.twitter.com/27HF0W3Sod 10.52am BST Fancy winning the Nobel prize for economics yourself? These are the areas that have found favour in previous years:TOP 10 FIELDS in Economic Sciences (1969-2013). One Laureate may be listed under several fields: pic.twitter.com/NzAbUC66Mk 10.41am BST Another option is Robert Barro of Harvard, who was recently ranked the third most influential economist in the world. Guy Bentley of City AM adds: He is one of the founders of the new classical economics and in 2011 delivered the Institute of Economic Affairs annual Hayek lecture on the economic crisis facing the governments of the developed world. 10.34am BST City AM also identify Israel Kirzner and William Baumol as possible winners: The 84 year old Israel Kirzner is certainly a dark horse. A follower of the Austrian school of economics, Kirzner received his PhD from New York University in 1957, where he studied under the classical liberal icon Ludwig von Mises. Kirzners research on entrepreneurship has criticised neoclassical perfect competition models and how coordination in the market emerges from discoordiantion.Baumol is recognised for a host of achievements in the discipline. In his 1968 paper Entrepreneurship in Economic Theory he said the firm without the entrepreneur is Hamlet without the prince. Furthermore, noted economist Tyler Cowen has tipped Baumol for the prize.2014 Nobel Prize in economics: Runners and riders http://t.co/S4EAjcezSE 10.32am BST Thomson Reuters has analysed academic citations to come up with a list of plausible winners.They include US academics Philippe M. Aghion and Peter W. Howitt for their work on Schumpeterian growth theory (the idea that creative destruction. helps to drive economies forward.) 10.27am BST As usual, theres a flurry of speculation over who might win this years award.And two British economists - Sir Anthony Atkinson and Angus Deaton - are in the mix, for their work on inequality, consumption and wellbeing.They are mentioned as possible winners because inequality is the subject du jour following publication of Thomas Pikettys hit book Capital earlier this year. Atkinson, a senior research fellow of Nuffield College, Oxford since 2005, has an inequality index named after him. His book Public Economics in an Age of Austerity, was published this year. 10.15am BST Youll be able to watch the announcement by clicking the embedded video at the top of this live blog.The announcement is due in a little under two hours -- theres a handy clock ticking down on the NobelPrize.org website... 10.12am BST Good morning. Before the complaints rush in, lets clear something up. Were not here to cover the Nobel Prize for Economics. That award doesnt technically exist.Instead, were about to discover who has won The 2014 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.The first falling leaf, the first pumpkin latte, the first complaint that economics isn't a real Nobel. The eternal rhythm of the seasons Continue reading...
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Greek Universities at the World’s Top 500 List
The 2014 Academic Ranking of World Universities (ARWU) lists two Greek universities amongst the world’s top 500. The Medical School of the National and Kapodistrian University of Athens has reached the 101-150 ranking, up from the 151-200 ranking last year, and the Aristotle University of Thessaloniki in northern Greece reached the 401-500 ranking for its academic curriculum. Harvard University remains the number one in the world for the 12th year while the other universities in the Top 10 are: Stanford, MIT, Berkeley, Cambridge, Princeton, Caltech, Columbia, Chicago and Oxford. ETH Zurich (19th) takes first place in Continental Europe, followed by Pierre & Marie Curie (35th), University of Copenhagen (39th) overtakes Paris-Sud (42nd) in France as the third best university in Continental Europe. ARWU is released by the Center for World-Class Universities at Shanghai Jiao Tong University, known as Shanghai List. Started in 2003, ARWU has been presenting the world Top 500 universities annually based on transparent methodology and reliable data. It has been recognized as the precursor of global university rankings and the most trustworthy one.
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