How the world sees Greece
ATHENS, Greece — Nikos Odubidan’s friends see him as the quintessential Greek, and not just because he has one of the most common Greek first names. He gestures like a Greek and argues like a Greek. He uses both the slang of his generation and obscure ...
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Investor concerns in Europe are centered on two main issues. First, the widening budget deficit in Greece would trigger political turmoil in the nation of ...
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Greek Aeolus importer Maxim Kaltsidis Tyres S.A. open the first “Aeolus Service Partner Brand Store” in Thessaloniki, Greece recently. In a statement ...
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The surprise decision by Athens to bring forward presidential elections to December from February had led to a slump in Greek stock prices earlier this ...
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ATHENS, Greece — Olympiakos' rivals in the Greek league suffered surprise defeats on Thursday, keeping the defending champion a point from the ...
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In the past, the opposition left-wing Syriza party leader Alexis Tsipras has criticized Europe's continent-wide austerity measures and its governments' ...
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University of Virginia President Teresa A. Sullivan's handling of UVa's representation and Greek system following the Rolling Stone allegations is ...
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The Greek! The Greek! The Greek is on fire! An 11–5 Week 15 boosted the Greek's lead to 143–80–1 to the Geek's 126–97–1, who checked in with a ...
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So you're ready to get off the rental unit superhighway and take the first exit ramp onto ownership boulevard—but you're well aware that rental prices ...
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On December 9, Greece’s Prime Minister Antonis Samaras took a sudden and market-moving decision to move up the presidential vote by a month and a half. Samaras’s decision impacted the Greece tracking FTSE Greece 20 ETF (GREK), which lost 207 basis ...
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Alexis Tsipras says his radical left party would seek ‘negotiated solution’ and would not make unilateral moves unless forcedThe man who could soon be Greece’s prime minister – if MPs fail to elect a president and snap polls are called - has sought to placate international markets days before parliament holds a second vote for a new head of state.Alexis Tsipras insisted on Thursday that his radical left Syriza party would seek a “negotiated solution” to the problem of the country’s monumental debt pile and, unless forced to, would not be making any unilateral moves. Continue reading...
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In the last 10 days foreign suppliers have again started asking for the full cost of commodities exported to Greece to be paid in advance by their local representatives, in a picture reminiscent of the state of external trade from late 2011 to the 2012 el... ...
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The German parliament on Thursday provisionally approved a precautionary credit line for Greece, set to apply from March 1, 2015, on the condition that the inspection by the country’s creditors is completed on time. Finance Ministry officials in Athens re... ...
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The monthly FIFA Ranking is back again as the Faroe Islands marked the biggest climb in the list’s twenty-two year history. The result against Greece, which at the same time dropped seven spots (no 24), lifted the small island team 82 spots, now sitting at no 104. The amateur soccer players who depict the Faroe Islands roster scored their most important win ever when they faced the 2004 European champions and no 18 ranked team in the world, and managed to escape with a phantasmagorical 0-1 result. The Greek national team’s recent unsuccessful endeavors in the Euro 2016 Qualifiers have seen them set anchor in an spot last seen back in the summer of 2006 when they failed to reach the 2006 World Cup in Germany (no 32).
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The Thessaloniki metro line construction has been a sore issue for years. After many delays that ended up pushing the project schedule behind, the consortium in charge of the construction submitted a request to tear up their contract on Wednesday, December 17. The consortium, made up of Greek and Italian companies (AEGEK-Impregilo-Ansaldo-Seli-Ansaldobreda) took this decision after an arbitrary court ruling regarding the project’s deadline. The Greek government had renewed the consortium’s contract to November 16, however the companies claimed that they should be released from the contract without paying a compensation since they had never agreed to the contract extension. The court decision was in the consortium’s favor. Attiko Metro, the company is in charge of the project, will have to take legal action within the next few days. Their choices are limited at the moment; the company can either accept the consortium’s resignation and pay the amount that corresponds to the work that has been completed, or they can attempt to salvage the relationship in order to continue the project. According to Greek media, Attiko Metro is considering to launch a new tender for the project, only 40% of which has been completed. However, that would mean that the company will have to pay 500 million euros in compensation to the consortium.
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Economic momentum in Greece (GREK) has always been subdued, especially in comparison to other European countries and its peers like Italy, Ireland, Spain, and Portugal. Gross domestic product (or GDP) in Greece has grown at an average rate of around -6% ...
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Kids are key to future growth in Greek yogurt, and Chobani's doubling down to win them over.
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On November 14, 2014, Greece’s economy finally registered some growth and emerged from recession. The economy expanded by 1.7% in Q314, compared to 3Q13.
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Rocked by political instability and feuding over election of a Greek President that has made markets anxious, Greece's beleaguered coalition government got a smidgeon of good news with figures showing the jobless rate dropped and stocks rose after a plummet. The post Some Good Greek News: Greek Jobless Rate Down, Stocks Up appeared first on The National Herald.
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Arriving for a EU leaders’ summit taking place in Brussels on Thursday, Prime Minister Antonis Samaras expressed his conviction that Greek politicians would finally resolve current instability and not place the country’s achievements and sacrifices at risk. “I am not going to allow – and the political system in Greece is not going to allow – anyone to gamble with these sacrifices, to gamble with these accomplishments,” he underlined. The Premier pointed out that Greece had the highest primary surplus in the Eurozone in the third quarter of 2014 and that the Greek economy’s impressive recovery was due to the “unprecedented sacrifice of the Greek people.” “Political uncertainty in Greece will soon be resolved,” he added. (source: ana-mpa)
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Her belief that the prospects of Greece are better than they were two years ago, expressed German Chancellor Angela Merkel at the federal parliament (Bundestag), adding though that much has to be done. The Bundestag was voting today over the two-month extension of the Greek support program and the following precautionary credit line (ECCL) that has to be approved by all European parliaments before it is finally enforced. “We can see that in countries which have particularly dealt with the crisis, competitiveness rises, budget deficits shrink and Ireland, Portugal and Spain, three of the five countries, have successfully completed their programs,” Merkel said. Regarding the Greek case, she underlined that “although much remains to be done, prospects in Greece are significantly better today than two years ago. All these could not be done without the decisive action of each country and without a determined, joint action and solidarity at a European level.” Furthermore, Merkel reiterated that the pillars of this achievement are and must remain fiscal consolidation, which at the same time should be friendly towards development, and structural reforms in order to enhance competitiveness.
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"The private debt has already been cut and therefore Greece cannot be a risk for markets, given that no one seeks a new private debt haircut.".
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"The private debt has already been cut and therefore Greece cannot be a risk for markets, given that no one seeks a new private debt haircut.".
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KKR & Co. LP (KKR), the private equity firm run by Henry Kravis and George Roberts, agreed to take control of 1.2 billion euros ($1.5 billion) of loans ...
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Police on Thursday closed in on a 50-year-old man who is also wanted in his native Romania on a European arrest warrant, taking him into custody in the Athenian neighborhood of Neos Cosmos. Greek authorities believe the suspect is behind at least 30 armed... ...
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Police in Katerini near Thessaloniki on Thursday arrested a 21-year-old Egyptian national believed to belong to a criminal racket that has been trafficking undocumented immigrants. The 21-year-old was detained near Katerini railway station after a police ... ...
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A 10-year-old boy from Lurgan, Co Armagh has been honoured in the Greek Sports Personality of the Year awards. Jay Beattie, who has Down's Syndrome, captured the hearts of the Greek nation when he struck up an unlikely friendship with the former Celtic ...
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Another positive factor was a Reuters interview with Alexis Tsipras, the leader of Greek opposition party Syriza. Recent political turmoil in the country ...
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EU_Flag.jpg Home Page News Page The EU Summit Starts Now Russia's woes have not been sufficient to spur a change in behavior from Putin. His press conference today was strident, blaming the US and EU for undermining Russia. He blames foreign influences driving down the rouble. The EU will impose new ban on doing business in Crimea. It will also target Russian companies' oil and gas exploration in the Black Sea. The US Congress has authorized Obama to extend sanctions against Russia as well. The EU Summit starts today. There are three important issues: Russia, Juncker's investment scheme, and Greece. See Also links url: http://www.economywatch.com/features/Pressure-on-the-Dollar-Possible-Capital-Controls-in-Russia-and-other-Global-News.12-16-14.html Title: Pressure on the Dollar, Possible Capital Controls in Russia, and other Global News See Also type: Reference read more
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It was a rollercoaster ride of a session at the Greek bourse on Thursday. Despite the additional concern in the market generated by the result of the first vote for a new president late on Wednesday, the local benchmark managed to recovered from afternoon... ...
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European stocks surged on Thursday, with the market supported by a rise in Greek shares after the leader of the main opposition party said he was committed to keeping Greece in the euro should his leftist ...
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The Athens Composite Index erased earlier losses to trade 1.5 percent higher after the leader of Greece's radical leftist party Syriza, Alexis Tsipras, ...
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Greece's radical leftist Syriza party will cancel austerity and ask Europe to erase a big chunk of Greek debt to free the country from the dark spell it has fallen under, leader Alexis Tsipras told Reuters on Thursday. In an interview at his party headqua... ...
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Twelve mystery women arrived at the Varvakios market, in downtown Athens, Greece, for the second consecutive year, in order to give thousands of euros away for the people who cannot afford to pay for their Christmas dinner. According to Greek media, the twelve women are working as executive officials at a multinational company but they have done everything in their power to remain anonymous. Around 11am on Thursday, December 18, the women arrived at the market in luxury cars. They visited each and every shop and gave 3,000 euros to the owners so that they would offer free products to poor people who cannot afford to buy what they need for the festive dinner. The same women appear to have visited Varvakios market last year, during Christmas and Easter holidays, offering thousands of euros to help people in need. However, no one has been able to identify them. Last year, several Greek newspapers speculated that this was a very clever trick organized by butchers at Varvakios market who were trying to attract people in their shops.
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The German parliament Thursday backed plans to extend a credit programme for Greece, with Finance Minister Wolfgang Schaeuble voicing hope for a «happy ending» to Athens' economic and political woes. Greece, which has received EU-IMF bailouts since 2010, ... ...
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The possibility of forming a government of special purpose, which, among others, would conclude the ongoing negotiations between Greece and the Troika, ruled out the main opposition SYRIZA spokesman, Panos Skourletis, during an interview on Greek television. Skourletis highlighted that the Presidential candidate‘s name is of minor importance, as what matters most for the country is to be driven to snap elections for reasons of national interest. The SYRIZA spokesman said that “we are not interested in a special purpose government, in special purpose governments, with sole purpose the continuation of the Memorandum policy. We are not interested in these proposals.” Acknowledging that SYRIZA will also face difficulties when negotiating with the country’s lenders if it comes to power, Skourletis said that “for the first time since 2010 we will have a credible discussion with our partners as a government with a fresh popular mandate.” It should be noted that the entire parliamentary group of SYRIZA voted against the election of Stavros Dimas as the next President of the Hellenic Republic and has repeatedly expressed its aim to lead Greece to snap elections, while currently all polls show it leading over ruling New Democracy. The last one gave SYRIZA a 3.6% lead.
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By Renee Maltezou and Deepa Babington ATHENS (Reuters) - Greece's radical leftist Syriza party will cancel austerity and ask Europe to erase a big chunk of Greek debt to free the country from the dark spell it has fallen under, leader Alexis Tsipras told Reuters on Thursday. In an interview at his party headquarters in a gritty Athens district, Tsipras sought to reassure markets wary of Syriza ...
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Official data released by Cosco Pacific show the reason behind the Chinese company’s decision to invest in the Piraeus port. According to the data, over the last 11 months, from January to November, 2014, 2.73 million containers were handled at the port’s Piers II and III. Last year, during the same period, 2.28 million containers were handled. The company predicts that the port of Piraeus will soon break the barrier of three million containers. On a monthly basis, 255,900 containers were handled in November, showing a significant increase of 12.4% compared to the previous year. The total number of containers rose to 3.7 million, which means that the port is gradually reaching its full annual capacity of 4.7 million containers. The numbers explain the reasons behind Cosco’s efforts to improve the port’s operation, in cooperation with Piraeus Port Authority (OLP) and the Greek Ministry of Mercantile Marine. Furthermore, the data also explain the agreement for an amicable settlement between the two sides, which has been approved by the EU Competition Commission, the Court of Auditors and the board meetings of both companies. According to the amicable agreement’s terms, Cosco will make an additional investment of 230 million euros for the creation of the new West Pier III. After the new pier’s construction, the total capacity of Piraeus’ port will be increased to 7.2 million containers per year, while the part that is managed by Cosco will increase its capacity from 3.7 million 6.2 million containers.
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ATHENS – As the election process for a president of the Hellenic Republic continues, SYRIZA leader Alexis Tsipras said that if elected as Prime Minister, he would negotiate debt relief with Greece’s lenders but that he remains committed to keeping Greece in the euro, Reuters reported. “Regarding the debt and the loan agreement which we […] The post Tsipras Wants Negotiated Solution to Debt appeared first on The National Herald.
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In Brussels on the occasion of the European Union summit will be today and tomorrow the Greek Prime Minister, Antonis Samaras, in the aftermath of the first, unsuccessful, ballot for the election of the new President of the Hellenic Republic. According to ...
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FOR an election in which so much is at stake, the atmosphere in the first-round voting in Greece's presidential election on December 17th was almost ...
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ATHENS: Four years of stringent austerity have caused an "unprecedented" assault on human rights in Greece for which the EU and the IMF must ...
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As a further extension to the Greek bailout has been negotiated within the Eurogroup and Greece is undergoing presidential elections, the report ...
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The latest business and finance news, as SNB takes fresh measures to weaken the franc following the Russian rouble crisisLunchtime summary: Rouble ripples reach SwitzerlandSNB imposes negative rates to weaken the francQ&A: Negative rates explainedWhat the experts say 3.29pm GMT More from the Reuters interview with Alexis Tsipras, who said he would indeed cancel austerity programmes agreed by the current government if his Syriza party is elected, but would negotiate debt relief with its lenders. Reuters reports:Saying he was committed to keeping Greece in the euro, Tsipras told Reuters that Europe should cut or erase a big chunk of Greek debt. He said loans from the IMF must be paid but he would seek an extension to maturities on bonds held by the ECB.Syriza - which is expected to win if early elections were held now - has long said it would cancel Greece’s EU/IMF bailout and demand debt relief if it came to power but the comments were the first time Tsipras has clearly spelled out the party’s plan for debt renegotiation. 3.18pm GMT Over in Greece, the Athens stock market has regained some ground after Reuters reported that the leader of opposition party Syriza wanted to keep the country in the euro if he won any forthcoming election.The government’s decision to bring forward a presidential poll which, if it loses, could cause snap elections raised the prospect of Syriza gaining power. This rattled investors, since its leader Alexis Tsipras stands against the austerity associated with the Greek bailout package and seemed likely to rip up the deal or leave the European Union. 3.10pm GMT The latest Philadelphia business survey has also disappointed.The index of current activity dropped sharply from 40.8 in November to 24.5 compared to estimates of a level of 26. But firms were generally optimistic about the future, although there were worries about employment and rising healthcare costs. 2.56pm GMT And here’s some less good news from the US economy, which ironically eases the pressure on the Federal Reserve to raise rates and therefore will probably be received positively.The US services sector expanded in December at its slowest rate since February, with the Markit initial purchasing managers index coming in at 53.6, down from 56.2 in November and well below expectations of a rise to 56.9 according to a Reuters poll.The extent of the slowdown suggests that economic growth in the fourth quarter could come in below 2% which, with the exception of the downturn caused by adverse weather in the first quarter, would be the worst performance for two years. Is the Fed (and almost everyone else) being too optimistic on US economic growth? http://t.co/b4SBsr51nf pic.twitter.com/vqynBLnGoVNot a pretty Flash Services PMI pic.twitter.com/wrFSQO6cVKMarkit Service PMI 53.6, Exp. 56.3, "weakest since the weather-related slowdown in February." - buy everything 2.45pm GMT The US markets have opened and the Dow Jones Industrial Average is currently up more than 1%, as investors continue to warm to the Federal Reserves desire to be “patient” about raising US interest rates.With the dollar down and oil steadying, markets are rallying after their recent downward dip. Concerns that an early US rate rise could help derail global growth have eased, helping the overall mood. 2.31pm GMT On the corporate front Aer Lingus shares have soared on reports that British Airways owner IAG may be interested in bidding.Aer Lingus is up nearly 9% at the moment, valuing the business at around €1bn, following the FT story. 2.17pm GMT If you are in need of a diversion over the next few days, you could try our bumper business Christmas quiz, which you can find here. 1.52pm GMT Following last night’s US Federal Reserve meeting which hinted at interest rises next year as the economy recovers, there is some more upbeat data.The number of Americans filing new unemployment benefit claims fell unexpectedly last week, dropping by 6,000 to a seasonally adjusted 289,000. This was lower than the 295,000 expected by economists, and down from 295,000 the previous week (revised from 294,000). 1.41pm GMT The surprise Swiss move to introduce negative interest rates could be a sign that the European Central Bank will proceed with some form of quantitative easing next month, says Kathleen Brooks at Forex.com.There are some fundamental reasons for the move, she said:Cutting rates is justified to bring Switzerland out of deflation. Its annual rate of inflation is -0.1%, however this could fall further after producer and import prices slid 1.6% year on year last month. The Swiss National Bank’s Jordan gave explicit reasons for the cut in rates: to weaken the Swissie, to overcome deflation [and] to help spur growth, which is expected to be on the weak side in the first quarter.While the internal factors justify the SNB’s actions, the timing of the move was surprising. The market had expected a move on rates sometime in January; however recent market volatility, and the sell-off in the rouble, threatened the 1.20 peg in euro/franc, which triggered this move. Other external factors included the ECB and the Fed. 1.15pm GMT Time for a recap.Switzerland’s central bank has imposed negative interest rates on bank deposits for the first time since the 1970s, as the Russian currency crisis causes ructions around the globe.“Rapidly mounting uncertainty on the financial markets has substantially increased demand for safe investments.The worsening of the crisis in Russia was a major contributory factor in this development.”UBS said on Thursday that it has no plans to levy negative interest rates on its retail clients 12.41pm GMT Germany’s finance minister, Wolfgang Schauble, has offered Greece an olive branch - telling MPs in Berlin that its economy is in better shape then expected.“Reforms are beginning to bear fruit for the people of Greece. The labour market reforms have made the country more competitive ... This year Greece will have a budget deficit within European Union rules.” 12.25pm GMT Over in Greece, the political wheels are turning after MPs rejected the government’s nominee for the presidency last night, increasing the chance that the administration could collapse. “I confirmed my view which is categoric: early elections, required in the case of parliament’s inability to elect a president of the republic, will lead the country into turmoil whose end result will be to find ourselves out of the Eurozone.”“At this point, the widest possible consent is required. We all have to put the interests of the country above personal or party interest. We owe it to the Greek people from whom we have asked huge sacrifices.” “He asked me to come to a solution of consent in the name of national policy. We believe that a national solution will be found only after elections.” 11.57am GMT Imposing negative interest rates on commercial bank deposits could actually backfire on the Swiss economy and cause an asset bubble.So warns Angelo Ranaldo, Professor of Finance and Systemic Risk at the University of St Gallen.“By introducing negative interest rates, the Swiss National Bank is reacting to the European Central Bank’s recent decision and to the renewed pressure on its safe haven currency thanks to the Russian crisis. But there is a fundamental disconnect between the Swiss economy and the outlook for the Eurozone: the Swiss economy is in better shape and disinflation is not a concern. 11.51am GMT Analysts at Goldman Sachs reckon that the Swiss central bank could be forced to intervene in the foreign exchange markets again, once the impact of negative rates wears off:Goldman saying that the SNB may still rely on FX interventions to protect the floor after shock rate cut earlier. EURCHF currently at 1.2041 11.40am GMT Credit rating agency Fitch has warned that risks to Russia’s economy have intensified.In a statement, Fitch sounded the alarm over the rouble’s extreme volatility this week, and the interest rate hike to 17%.The inflationary impact of recent falls (inflation is heading towards double digits) will erode real incomes, further damaging private consumption and domestic demand.If rates have to be kept high or increased to support the currency at a lower oil price, the impact could be greater still. The CBR has estimated that average oil prices of $60/barrel could cause GDP to shrink 4.5%-4.7% in 2015.Fitch says $66 oil in 2015 would cut #Russia's GDP by 2.8%, and the CRB rate increase will make that worse. To review rating in January. 11.19am GMT After a rocky start, Greek bonds are actually rising in value now, pushing down the interest rate (or yield) on the debt. Greek Bonds actually doing okay this morning - the yield drops to 8.52 (-24bp) on the 10 year. 10.52am GMT The feel-good factor from last night’s Federal Reserve meeting continues to push European stock markets higher.Shares are rising on relief that the US central bank will be patient when deciding when to raise US interest rates.Equities in Europe are trying hard to take advantage of a dovish, US Federal Reserve-led rally in the States last night. The S&P 500 had its best day of the year, rising a shade over 2% to close back above the 2000 level. While the ‘considerable time’ statement remains in the minutes despite some reports to the contrary, the fact it changed its language slightly, and highlighted a ‘patient’ stance on when rates will start going up, maintained the dovish theme. The comments by chair, Janet Yellen, that this alteration in language did not actually mean a change in its outlook helped put a rocket under equities for the final part of last night’s session. 10.40am GMT Greece’s jobless rate has dipped a little, but remains in at depression-era levels.Elstat reports that the unemployment rate was 25.5% in the third quarter of 2014, down from 26.6% in April-June, and 27.2% a year earlier. 10.18am GMT Swiss central bank chief Thomas Jordan also confirmed that the Russian crisis had prompted today’s decision to charge commercial banks who deposit their francs with the SNB. 10.14am GMT Back to Switzerland....and the head of the Swiss National Bank has predicted that the negative interest rates announced today will remain “for the foreseeable future”.SNB chairman Thomas Jordan told a press conference that further measures could be imposed if it’s necessary to weaken the franc and stimulate inflation again.“If it becomes necessary, we can take further measures. Possible measures include a further reduction of interest rates or a reduction of the exemption threshold”.SNB'S Jordan says he doesn't expect negative rates for Retails customers in Switzerland, makes no sense #EURCHF #FX 9.51am GMT Record growth in department stores and electrical appliance stores in November 2014. Boosted by 'black Friday'It seems #BlackFriday gave UK retail sales a massive boost. That's it then. We'll never be rid of it. 9.49am GMT Britain appears to have caught the Black Friday bug.New figures from the Office for National Statistics show that retail sales jumped by 1.5% month-on-month in November, the biggest rise this year.“Black Friday’s shopping frenzy provided the sector with a timely boost and retailers will hope that this momentum is maintained throughout the festive period. “A combination of aggressive discounting and consumer’s determination to secure big ticket bargains ensured that electrical goods and household appliances were the standout categories. Clothing and footwear retailers used the event to reduce stockpiles of winter clothing, albeit to the detriment of their profit margins. 9.30am GMT Financial analyst are digesting Switzerland’s decision to impose negative interest rates on cash deposits at its central bank.The SNB continued to show its unwavering support for the EURCHF floor by introducing negative interest rates....We doubt the action will have long term effect and expect to see EURCHF grind back towards the EURCHF 1.2000 minimum exchange rate.”“Having seen the franc trading at, or very close to, the cap that it set of 1.20 to the euro over the past month, the SNB obviously felt it needed to shore up its defences against a building storm surge of money looking for a safe home. It is also faced with the potential for Q.E. by the ECB next year, which would likely put further downwards pressure on the euro across the board. “The timing is suspicious because the fee will be charged starting on January 22nd.” 9.08am GMT German firms appear to be shrugging off the Russian crisis, and Europe’s economic problems.The IFO survey of German morale, just released, has risen to 105.5 up from 104.7 last month. That’s the highest reading since August. 9.05am GMT Heads-up; Vladimir Putin’s press conference is about to start in Moscow. We’re running a separate liveblog, as it’s going to last for several hours:The @guardian is liveblogging Putin press conference. I'm in the hall and my colleague @Haroon_Siddique is in London. http://t.co/3GwlrJF6eHAnnouncement on the tannoy at Putin press conference asks journalists not to bring toys and furry animals into the hall. 8.56am GMT Over in Berlin, German chancellor Angela Merkel has warned that sanctions against Russia over Ukraine remain unavoidable as long as Moscow does not respect Ukrainian sovereignty.“As long as we do not reach this goal ... sanctions remain unavoidable, though I would like to reiterate that they were not and are not an end in themselves.” 8.48am GMT The Russian rouble is volatile around this morning, as traders await Vladimir Putin’s annual press conference, from 9am.It’s currently down 2.2% against the US dollar at 61.5 roubles/$1, having hit a low of 58/$1 in early trading.Not just @bmw , @GM now also reacting to #Russia. GM Halts car sales due to rouble volatility @business 8.32am GMT Greek three-year bonds weakened this morning after MPs rejected the government’s presidential candidate last night, pushing up the yield on the debt.Greek 3yr yields jump by 17bps as #Greece's PM Samaras still 20 MP's short for 3rd round of Presidential election. pic.twitter.com/getazQQCKs 8.27am GMT European stock markets have risen in early trading, taking their lead from Wall Street’s rally last night.The German DAX and French CAC both surged 1.7%, while the FTSE 100 is up a more modest 0.5% or 30 points at 6366.Markets had been expecting such a move and, despite signs of some disagreement on the committee as three members dissented, the shift is a signal of confidence in the sustainability of the US recovery. Fed Chair Yellen reassured that policy continued to depend upon the data, with no move likely within the next “couple of meetings”. 8.20am GMT Why has the Swiss central bank announced negative interest rates today?Because it wants to weaken its currency, the Swiss franc, by penalising banks who hold deposits.Timing of #SNB is pretty interesting ... just a week after the SNB's last policy meeting - #rouble trouble perhaps? 7.55am GMT The Swiss franc has weakened sharply after Switzerland’s central bank surprised the markets by announcing it would impose negative deposit rates of 0.25% on commercial bank deposits.The franc fell by half a cent, to 1.2095 francs against the euro, a two month low. The SNB reaffirms its commitment to the minimum exchange rate of CHF 1.20 per euro, and will continue to enforce it with the utmost determination. It remains the key instrument to avoid an undesirable tightening of monetary conditions resulting from a Swiss franc appreciation. Over the past few days, a number of factors have prompted increased demand for safe investments. The introduction of negative interest rates makes it less attractive to hold Swiss franc investments, and thereby supports the minimum exchange rate. 7.41am GMT Good morning, and welcome to our rolling coverage of the financial markets, the world economy, the eurozone and business.And #SNB introduces negative interest rates as the great monetary policy experiment continues ... Continue reading...
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Maria Loi loves her homeland. As the official Ambassador of Greek Gastronomy, as designated by worldwide culinary organization the Chef's Club of Greece, she makes frequent TV appearances and has authored more than 36 cookbooks and 150 articles in ...
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Greek bond yields fell on Thursday after Germany said Athens was on the right track in terms of reforms in what the market saw as a sign of support for the struggling euro zone member which is in the heat ...
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The first act of the Greek presidential election drama was so predictable that if it was played in an actual theater, the audience would have left yawning, asking for their money back. Even the Golden Dawn gang — who were brought from jail to vote, acting like in a field trip — were well-behaved. In the past few days, Premier Antonis Samaras has turned the presidential election into a matter of life and death for the country. He has talked about Greece falling into the abyss, he has presented SYRIZA as the horned evil one, he has evoked Armageddon. So when the vote count stopped at 160, it was an anticlimax as big as the fiscal gap. And speaking of gaps, the gap between 160 and 180 votes seems like the aforementioned abyss Samaras used to scare independent and undecided MPs and the Greek people. Now Samaras and company have a total of 20 MPs to persuade to vote in favor of Stavros Dimas. Of course the word “persuade” has already turned to “blackmail,” “bribe,” “promise favors” from the lips of SYRIZA chief Alexis Tsipras. Samaras tells neutral lawmakers that their vote in favor of Stavros Dimas is crucial for the future of Greece; Tsipras tells them that if they do that, they will be apostates. The words used by both are worthy of ancient Greek tragedies, with a dash of bad modern soap operas. They both try to scare the undecided, each in his own way. But all is fair in love and politics, isn’t it? Who cares if both forces send negative messages abroad that hurt the Greek economy? For some mysterious reason, the PM appears confident that on the final ballot of December 29 he will be the one to smile. Political analysts believe he has an ace up his sleeve. Maybe Stavros Dimas, as the proverbial sacrificial lamb, will withdraw from the third act and Samaras will draw from his hat a nominee so universally acceptable that even doubting Alexis will vote in favor. Evil minds say that in the final ballot he will get the votes of the Golden Dawn goodfellas who are jailed for criminal activities. Others say that Samaras is determined to sway independents and some MPs from ANEL and the Democratic Left and he has already secured some votes. Confidence is in abundance on the opposite side too. Prone to premature celebrations, the SYRIZA side welcomed the ballot results as if they had already won the general elections, formed autonomous government, established socialism all over Europe and fed the world’s hungry. They already speak of people’s mandates, people in power, a government by the people and for the people, and all the slogans that include the word “people”, selectively ignoring that in the same opinion polls that give them the lead, almost 60 percent of real people don’t want snap elections. Not because they don’t want to decide for their future, but because they are tired of promises politicians never keep. And of course they don’t care much who will be the decorative person sitting in the chair of president of the Hellenic republic.
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A precious plot in Istanbul's Anatolian side where a mosque was located has been returned to the 92-year-old sole heir of former Fener Greek ...
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For queer people, in many ways, there has never been a time in history like the present. Although oppression and inequality are still rampant, there have also in recent years been a number of firsts, breakthroughs and other positive developments that once seemed like they would never come. 2014 was an especially good year for queer equality in the U.S. Over 60 percent of Americans now live in states that permit same-sex marriage, and advocates in ever-increasing numbers are speaking out for the cause. We don't mean to suggest that there haven't been setbacks, or that things aren't still wildly unjust in almost every part of the world. But at the same time, we think it's worth observing, and celebrating, the real progress that the 21st century has brought to many. Below, we've rounded up some of the most important milestones in queer rights from the past 14 years. We can't wait to see what's in store for 2015 and beyond. Research was contributed by HuffPost editors in Canada, the UK, France, Spain, Italy, Germany, Greece, Brazil, Japan, Korea and India.
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The ninth (9th) Extraordinary General Meeting of the shareholders of Greek Organization of Football Prognostics S.A. (OPAP S.A.) took place on Thursday, December 18th, 2014 at its headquarters, 62, Kifissou Str., Peristeri. 623 shareholders representing ...
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