BARI, Italy (AP) — There were no fire alarms at first, no knocks on the door from the crew, just thick, acrid smoke filling cabins and waking passengers on the overnight ferry from Greece to Italy.
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How the world sees Greece
Monday, December 29, 2014
Long queues as tax deadline nears
Despite the growing political uncertainty, thousands of Greeks are scrambling to meet the deadline for tax payments, set for the end of the year. There were lengthy lines of people at post offices, banks and tax offices on Monday as taxpayers are supposed... ...
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Adriatic ferry fire claims 10 lives; hundreds rescued by helicopter
Battling a gale-force storm and monster waves, rescue crews used helicopters to pluck more than 420 people from the frigid decks of a Greek-operated ferry crippled by fire in the Adriatic Sea. At least 10 people died, officials said Monday, but left open the possibility of more people missing.Read full article
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The future has begun, says leftist Alexis Tsipras as he scents power in Greece
Syriza is leading in polls after gaining support among millions of Greeks who are unemployed or facing povertyWithin minutes of the Athens parliament failing to elect a president, Alexis Tsipras, the man most likely to become Greece’s next prime minister, said the country had experienced “a historic day”.For the first time since the foundation of the modern Greek state nearly 200 years ago, radical leftists – marginalised, tortured and tormented for the best part of the 20th century – were on course to assume power. He said Greeks should rejoice. The government that had put the country through an assault course of austerity would soon be over. Continue reading...
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S&P 500 HITS ALL-TIME HIGH: Here's What You Need To Know (DIA, SPY, QQQ, TLT, IWM, USO, SHAK, RUB, GREK, BHI)
The major stock indexes went nowhere on Monday as the markets are still quiet following last week's Christmas holiday and this week's New Year's holiday that will again see US markets close on Thursday. By virtue of a positive close, the S&P 500 made another all-time high. First, the scoreboard: Dow: 18,039.4, -14.2, (-0.08%) S&P 500: 2,090.7, +1.9, (+0.1%) Nasdaq: 4,806.9, +0.05, (0%) And now, the top stories on Monday: 1. Oil crashed again. On Monday, West Texas Intermediate crude oil fell briefly below $53 a barrel, the lowest since May 2009. WTI crude was near $105 a barrel in June, and has now lost almost 50% of its value. Also in oil news, the number of US oil and gas rigs in operation fell again, declining by 35 last week according to the latest data from oil driller Baker Hughes. With this decline, the number of US oil and gas rigs in operation is down to 1,840 from 1,920 earlier this month. 2. The latest manufacturing report from the Dallas Federal Reserve missed expectations, with the report's composite index coming in at 4.1 against expectations for a reading of 9. This was also lower than November's 10.5 reading. The report showed that business leaders in Texas across a range of industries are concerned about the declining price of oil, with one executive in the metal products manufacturing sector telling the Dallas Fed the drop in oil prices was "going to make thing ugly ... quickly." 3. The Russian ruble collapsed again, falling 9% against the US dollar on Monday alone. One dollar currently buys you around 58.5 rubles, and at the start of the day Monday, one dollar was worth around 53.5 rubles. This latest leg lower in the currency, which has been one of the worst performers this year, follows an announcement from Russia's Economy Ministry that GDP contracted 0.5% from a year earlier. 4. The Greek stock market had a wild day, falling as much as 11% before closing down around 4% after the final round of parliamentary presidential elections failed. For the third time this month, Greece's parliament failed to secure 180 votes in favor of any one presidential candidate, forcing a snap election which will be held in January. Business Insider's Mike Bird has the full breakdown here. 5. Burger chain Shake Shack formally filed for its IPO, revealing that for the first nine months of this year revenue totaled $83.8 million on same-shack-sales that are up 3%. Shake Shack also earned $5.4 million in net income in 2013, and revenue has growth from just $19.5 million in 2010 as the number of locations has risen from 7 to 63 over that period. To see Shake Shack's growth, these are the two charts to note. Don't Miss: David Tepper Thinks 2015 Will Be A Good Year For Stocks »Join the conversation about this story »
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S&P 500 at fresh record; Dow snaps winning streak
New York (AFP) - The S&P 500 edged up to a fresh record, while the Dow ended a seven-day winning streak as Wall Street investors digested last week's surge.The broad-based S&P 500 gained 2.01 points (0.10 percent) at 2,090.78, marking its second record close in a row. The Dow Jones Industrial Average dipped 14.32 (0.08 percent) to 18,039.39, while the tech-rich Nasdaq Composite Index was essentially flat, gaining a scant 0.05 point at 4,806.91.Stock markets in Britain, France and Germany rallied into positive territory after initially falling on news that Greece was headed for snap polls after the parliament failed to elect a leader for the third time, raising uncertainty about the country's economic reforms under an international rescue program."We saw some potential negatives for markets coming from Greece, but it seems mostly isolated to Greece and Europe specifically," said David Levy, portfolio manager at Kenjol Capital Management."There is little news coming to the market in a thinly traded market."Join the conversation about this story »
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Greece Leads Euro and European Market Back Into Troubled Waters
Greece Leads Euro and European Market Back Into Troubled Waters
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Electoral Systems and the Democracy Gap in Southern Europe
In one of his recent HuffPost columns my colleague Jeffrey Sachs asked "Why does the actual vote count for so little [in the U.S.]?" Sachs proffered the explanation: "People vote for individuals, not directly for policies." Sachs' aspiration for his home country illuminates one of the most fundamental flaws in Southern European democracies as well: in parliamentary elections voters cannot (even) vote for individuals... In Southern European countries, like my native Portugal, voting ballots require us to check boxes adjacent to symbols that represent political parties, and not individual representatives. Each checkbox corresponds to a list of candidates ordered by their respective parties' leadership. Altogether, these leaders have been elected by roughly 3 percent of the entire national registered voter base; i.e., by the affiliates of their parties in "primary elections." This means that in the 2011 elections the alternatives available for 9.6 million registered voters were chosen by, at the most, only three-hundred thousand people. Not to be misunderstood: in Portugal we do not vote on some orderly list of specific names, which these 3 percent of voters have caused to appear on the ballot. Rather, we vote on a single "closed list" (period!) following the D'Hondt method to convert the aggregated number of votes in each party-list into elected candidates and parliamentarian seats. Some of the practical results of which are: (1) voter-elected ties are not distinguishable; (2) voters like myself do not feel represented; (3) the representative who believes s/he is representing me has no way to even identify me as his/her constituent; (4) voters cannot hold anyone personally accountable for political positions and/or decisions vis-à-vis a voter's individual policy preferences; and (5) a distorted incentive system that lacks political entrepreneurship. In sum, 97 percent of the Portuguese voters may not be represented in Parliament. This is not a representative democracy; it is a democracy for the 3 percent! Since prior to the 1974 Carnation Revolution, which ousted a 41-year dictatorship, this figure was even lower, I can then only assume the Portuguese are supposed to consider themselves very lucky with the current system. Maybe not?! In other European countries, however, the electoral system allows voters to express their preferences for specific individuals and let their choices determine the order of election; i.e., open list systems. Only 36 percent of the countries worldwide use one of these two types of "list proportional representation" (List PR) in their electoral systems. Source: ACE Project. The majority of List PR systems in the world are closed. In Europe, however, many List PR systems are open. Source: Author's configuration, ACE Project, and IDEA. A quick look at the distribution of closed and open list systems throughout Europe should be enough to conclude which system a nation aspiring for higher democracy standards should stand for. For those skeptics of graphic analyses, a look at economic performance, income inequality, corruption levels and civic engagement will take us to the same conclusion: countries with open list systems perform better across the board. The average GDP per capita (PPP) in open list systems ($37,986) is almost twice (1.84) the average GDP per capita in closed list systems ($20,596). Countries with closed list systems are also more unequal (Gini=35.4) than countries with open list systems (Gini=29.9). In the Corruption Perception Index 0-100 scale, countries with open list systems perform much better (67.5) than countries with closed list systems (46.3). Voter turnout in open list systems (68.4 percent) is also higher than in closed list systems (64.5 percent). The U.S. does have a problem of inequality (Gini = 45) but their citizens can call or write the exact individual for whom they voted, hold him/her accountable and decide whether or not to vote for him/her again. Sachs also mentions the desirability of having a stronger direct democracy system in place in the U.S., not just for individuals, but also for direct policy voting. Even though there are several problems and limitations with the U.S. political system, such as corruption and plutocracy, my American friends are even "luckier" than the Southern European voter in what relates to direct democracy. The discrepancy between the U.S. and Europe in what concerns direct democracy is shocking and absurd in this day and age. Current electoral systems in Southern Europe are an assault on the ideal of a modern democracy and, as Jean Jacques Rousseau would argue, popular sovereignty shall counter-weight the absolute power of kings, emperors and political elites. Direct democracy in the U.S. can be traced to the New England Colony of Connecticut, when in 1639 its citizens adopted by constitutional referendum its "Fundamental Orders of Connecticut"; i.e., the predecessor to that state's present day Constitution. The state of Idaho's legislative referendum on "Compensation of County Officers," in 1892, is indicative of the Progressive Era (1890-1920) in which ballot measures became more commonplace. Since then Americans have been allowed to express their preferences and vote in state elections directly on 7,728 policy measures covering a wide range of local public policy issues. On average, voters in each state have been making direct decisions in about 2.3 alternative policies a year. California, with 1,225 ballot measures since 1911, asks its voters to express their preferences much more often than the next most participatory states: Oregon (852 since 1902), Arizona (452 since 1912), Oklahoma (433 since 1908) and Colorado (400 since 1908). Delaware is the only U.S. state that asks less than in Southern Europe -- it has never asked voters to either accept or reject a particular proposal by direct vote. With 69 referendum questions on national topics since 1974, Italy is the exception to the rule in Southern Europe. Within the same period, on only three occasions have the Portuguese and the Spanish been allowed to vote on specific policy issues. As for the Greeks and the French: once, and four times, respectively. In the U.S., by comparison, the 50 percent of the states that only introduced ballot measures in or after 1974 allowed their citizens to decide directly on 1,372 policy measures, which, on average, is equivalent to making two decisions per year in each state. Switzerland, with more than a century of experience with frequent referendums either about changes to the constitution or other laws, is the European model of direct democracy. More likely than not, it is precisely this system of referendums which guarantees Swiss citizens a maximum degree of self-determination but also an unrivaled stability of its political system, in contrast to the constant political turmoil in Southern Europe. Top-down features of the Napoleon Code tradition have been used to justify this lack of openness to direct democracy and participation in Southern Europe law codes. This could not be more misleading! The U.S. State of Louisiana's laws, profoundly imprinted by that same Napoleon Code, has allowed citizens to decide on nearly 170 different policies since 1994. After California, Louisiana is the state that asks for the participation of its citizens most frequently (i.e., eight policy issues on average per year). The political systems' development path from voting on parties to voting on individuals to voting on policies is stuck in Southern Europe. In the case of Portugal, some of the practical results of a democracy locked on parties-closed-list and with a very limited experience of direct democracy are: (1) very low (and decreasing) voter turnout (2011: 58 percent for parliamentary elections and 46.5 percent for presidential elections); (2) lack of political entrepreneurship and institutional innovation as indicated by the regular need of IMF interventions in the country; (3) a political cartel of the two undifferentiated parties that rotate in power; and (4) lack of political accountability. In fact, 2014 will go down in Portuguese history as the year in which the largest Portuguese private bank collapsed and the former prime minister went to jail under accusations of money laundering, fraud and corruption. Many empirical and theoretical scientists, such as Arthur Lupia, John Matsusaka, Bruno Frey, Maarten Hajer and Hendrik Wagenaar have shown that instruments of citizens' participation, like direct democracy, contribute to a country's overall political and economic stability, governance and happiness. The road from voting on parties to voting on individuals to voting on policies is much needed in Southern Europe if these nations are to address their home-grown ills and expand their representative democracies well beyond 3 percent. _______________ The author of this post is the founder and director of several programs at Columbia University. He currently leads programs in NYC, Kazakhstan, Egypt, China and Portugal.
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Moscovici calls on Greeks to commit to European path
European Commissioner for Economic and Monetary Affairs Pierre Moscovici called on Monday on the Greek people to use their votes to keep the country on the road to reform, although he refused to comment on the possibility of a change in government in Athe... ...
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Another bailout extension on the cards
Greece’s creditors are examining the option of a further extension to the Greek bailout program beyond February 28, knowing that it will be impossible for the tough negotiations that have remained open since September to be brought to a successful conclus... ...
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Why Greece won't chill markets
Greece may be one of the first trouble spots for markets in 2015, but it's not likely to be what really rocks them.
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Global Government Bonds Strengthen on Greece’s Political Uncertainty
Government bonds in the U.S., Germany and the U.K. strengthened on Monday as the latest political turmoil in Greece boosted demand for haven assets. In late-afternoon trading, the yield on the benchmark 10-year Treasury note fell to 2.207% from 2.25% on ...
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Why Greece could cause a shiver, not a chill
Greece may be one of the first trouble spots for markets in 2015, but it's not likely to be what really rocks them.
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Greek party leaders get election campaigns under way
Prime Minister Antonis Samaras is due to meet President Karolos Papoulias on Tuesday to ask for Parliament to be dissolved, ushering in one of the briefest election campaigns Greece has ever known before national polls are held on January 25. Preparations... ...
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GREECE-ITALY-FERRY
Map shows port of departure, intended destination and site of rescue; 1c x 2 5/8 inches; 46.5 mm x 66 mm;
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IMF Suspends Greece’s Funding, Talks to Resume After Snap Elections
The decision of the International Monetary Fund (IMF) to suspend the provision of financial assistance to Greece until a new government is formed, after the general elections of January 25, was revealed by the Fund’s Director of the Communications Department, Jerry Rice, only a few hours after the failure of the election of a new President of the Hellenic Republic by the Greek Parliament. Mr. Rice added, however, that this development will not affect the economic situation in Greece. “Discussions with the Greek authorities on the completion of the sixth review of the program that is being supported by an Extended Arrangement will resume once a new government is in place, in consultation with the European Commission and the European Central Bank,” an e-mailed statement said. “Greece faces no immediate financing needs,” Mr. Rice’s announcement added. It should be noted, that on Saturday Germany’s Finance Minister, Wolfgang Schaueble, called on Greece to move forward with the arranged reforms, noting in an interview with Bild newspaper that “any newly elected government must respect the commitments of its predecessors.” “Greece has made huge progress since 2009. We must have more respect for the country,” said the German Finance Minister. “We will continue to assist Greece while it deals with the hard reforms,” he added, noting that the country’s debt situation will not change in the case of snap elections. “The upcoming elections will not change the Greek debt. Each new government must respect the agreements made by its predecessors,” he repeated.
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George Papandreou’s New Party Launching Date a Mystery
The announcement of the new party of former Prime Minister and PASOK member, George Papandreou, has spread worries in his father, Andreas Papandreou’s party, founded on September 3, 1974. The information emerging from the former Premier’s associates regarding the launch date differ and in essence, the announcement could happen tomorrow, or even at the beginning of 2015. The first scenario, emerging from Filippos Petsalnikos, wants the new party — moving to the center of the Greek political map – to be launched as soon as tomorrow, only one day after the third successive unsuccessful round of the Greek presidential election. At the same time, according to Mr. Petsalnikos, six PASOK MPs (Loverdos, Koukoulopoulos, Maniatis, Kremastinos and Drivelegas) visited George Papandreou in his office in the Greek Parliament in order to dissuade him and to refrain him from creating the new party, as such a development would practically signal the end of once powerful PASOK, that governed the country for consecutive years, through the last four decades. The second scenario, emerges from Mr. Papandreou’s closest associates, who want the party to be launched within the first days of the new year. The intention of Mr. Papandreou remains unknown and the fog surrounding his moves has spread confusion in the Greek political scene. “If he decides it, he will announce it within the next year,” his associates leak, refusing scenarios of an earlier announcement, without though specifying the exact date. Parallel to the above, the speculation regarding a possible resignation of the Greek coalition government’s Vice President, Evangelos Venizelos, from the presidency of PASOK and his temporary replacement from current Education Minister, Andreas Loverdos, or PASOK member Nikos Androulakis are increasing. “There is no way Venizelos will resign,” senior PASOK officials reply.
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Greece Faces Tight Race in Early Elections
ATHENS—Greece’s early elections next month are shaping up to be a nail-biter, as the gap separating the country’s top two parties has narrowed ahead of a vote that may not produce a clear winner. Prime Minister Antonis Samaras on Monday called ...
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Political uncertainty in Greece could threaten financial bailout
An upcoming snap election in Greece could threaten the financial bailout that has helped keep the country afloat. European stock markets mostly recovered from earlier losses after Greece announced early national elections for Jan. 25, as lawmakers failed ...
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US stocks mostly higher despite new fears over Greek bailout
NEW YORK (AP) — U.S. stocks were mostly higher on Monday afternoon as Wall Street winds down the year in this holiday-shortened week. European indexes fell on news that Greece will hold early elections that could endanger its bailout program. Asian indexes rose after Chinese regulators announced measures to stimulate the world's second-largest economy.
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Greece to hold early general election, raising fears over future of bailout program
ATHENS, Greece - Greece's government was forced on Monday to call early national elections, stoking financial concerns as investors worry the main opposition party will win — and want to renege on the country's bailout deal.
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A Greek Revival of Anxiety, Some Say Without Foundation
Greek agita is back. Or is it? After a two-year spell during which investors eagerly snapped up Greek assets, the prospect of new elections and the ...
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Greece's political crisis sends bond yields soaring
Prime Minister Antonis Samaras’s failure to gather enough backing for his presidential candidate is creating havoc in Greece’s bond market. Ten-year bonds are down for a fourth month, the longest stretch since 2011. The yield on three-year notes climbed o... ...
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Canadian man listed among passengers of Greek ferry
OTTAWA—Greek officials say one Canadian citizen is listed on the manifest of a ferry that caught fire near Albania, forcing a dramatic evacuation on stormy seas. The whereabouts of the man, identified only as N. Pejcinovksi, are unclear. Eight people ...
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Greece at distinct disadvantage if incoming leaders look to exit eurozone
Athens no longer has bargaining power it once held, with demands by Syriza for debt forgiveness likely to be turned downThe bookies have cut the odds on a Greek exit from the eurozone to evens now that elections look likely to bring a leftist party to power with a mandate to wage war with Brussels.The betting is that the Syriza party leaders who are poised to dominate the post-election parliament will discover Athens no longer has the bargaining power it once held. Continue reading...
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Ferry fire: eight dead and dozens feared missing after 33-hour rescue ends
Tally of dead and rescued is 43 short of number on ship’s manifest, and several of those saved were not on listA 33-hour-long operation to save almost 500 passengers and crew from the stricken Norman Atlantic ferry wrapped up on Monday night amid fears that the final death toll could prove much higher than the eight fatalities confirmed by the Italian and Greek coastguards.Italy’s defence minister, Roberta Pinotti, said 427 people had been rescued from the ship. The manifest contained 478 names, apparently leaving 43 unaccounted for. Continue reading...
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Greece Police investigation at Long Pond Rd.
Rochester, N.Y. - Greece Police are at the scene of an incident on Long Pond Road and English Road. Police have blocked off the intersections at ...
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Seven killed, 414 rescued as evacuation of Greek ferry that caught fire completed
Two more bodies have been recovered from the Greek ferry fire, according to the Italian coastguard, bringing the death toll to seven. There was no immediate word on where the two bodies were recovered. Earlier, authorities found four bodies in the water ...
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Worry, Fear, Insecurity: The International Media on Greek Political Developments
After the third successive unsuccessful ballot for the election of the new President of the Hellenic Republic, international media once again has their eyes on the Greek Parliament, with reports mainly focused on the uncertainty emerging from the early elections. American TV network, CNN, in an article entitled “Get ready for a new Greek drama,” highlights that the country’s Parliament will be dissolved, as snap elections will be held within a month, risking a “nasty” fallout for its “fragile economy.” In addition CNN refers to the main opposition SYRIZA and its high chances of governing the country after the elections, saying it wants to renegotiate the terms of Greece’s 240 billion euro bailout package. In the same manner, British BBC underlines that Greece’s economy has begun to recover after a long period of recession, although the Greeks have endured years of austerity and the left-wing opposition SYRIZA — which is currently leading the polls — wants the terms of a huge bailout renegotiated, even though some light is seen at the end of the tunnel with unemployment rates falling from a record 28% early this year to the still extremely high level, of 25.5%. The New York Times in its article following the third presidential ballot and the failure to elect Stavros Dimas as the new Greek President, also refers to the possibility of SYRIZA emerging to power and the political uncertainty spread in Eurozone from the snap general elections. “The new political upheaval in Greece has not caused panic like that felt across the Eurozone in 2012, when it seemed possible that the country could be forced to abandon the euro, which shook the bloc that shares that currency. The prospect of elections has unsettled international markets and Greece’s creditors, however, because the leftist party SYRIZA, which has pledged to renegotiate the country’s international bailouts and to seek a write-down of Greece’s huge debt, is expected to win,” it estimates. Furthermore, German Detsche Welle, also highlights that the snap elections in Greece are raising fears that its bailout could be “placed in jeopardy.” Referring to Berlin’s reaction after this development it is noted that spokesman of the German Chancellor Angela Merkel, Christiane Wirtz, has declined to comment on the matter, as it is a domestic one: “Of course we are looking very closely to what is happening in Greece. But you have to understand that I cannot comment on Greek domestic events, especially those which are only a half hour old. Fundamentally we are talking about a Greek domestic matter.” Finally, international news agency Reuters also highlights that the country is facing snap elections that could damage its bailout program, adding that SYRIZA is — according to the polls — the clear favorite for the upcoming elections, even though its lead has narrowed lately.
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Lunch Buffet
Source: www.washingtonmonthly.com - Monday, December 29, 2014 When Paul Glastris decided to commission Matt Connolly's piece on college football coaching salaries, he didn't know that a sneak preview would appear on the very eve of Jim Harbaugh's return to Michigan for what is likely to be a record-- perhaps $8 million --contract. But it's not remarkable at all for WaMo to be a bit--or in some cases a lot--ahead of the curve. You can't help keep yourself ahead of the curve with a tax-deductible donation in whatever amount you can afford . Thanks! Here are some midday news/views items left over from the Xmas stockings: * At TNR, Danny Vinik explains why Greek elections next month could reignite "Eurozone Crisis." * Fascinating bit of history: Winston Churchill may have considered converting to Islam . * The permanent campaign back on: Politico profiles the top 16 Senate races of '16. * Few illusions of any non-tragic result to the AirAsia flight "mystery." * Krugman argues austerity or the lack thereof explains most of what you need to know about relative economic conditions of various countries at various times. And in non-political news: * The Hobbit: Battle of the Five Armies big Xmas box office winner . As we break for lunch, here's the title track from Marianne Faithfull's 1979 comeback album, Broken English .All Related | More on Jim Harbaugh
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A View From Abroad: Why Greece’s New Crisis Isn’t Spreading to the Rest of Europe
This time around, unlike in 2012, financial markets seem to view Greece’s problems as limited to Greece. That’s great, unless the markets are wrong.
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Fears for fresh Greek crisis after poll called
Athens shares touch two-year low ahead of expected resignation of coalition
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3 Things To Watch: Wall Street’s Week Ahead
Source: www.ibtimes.com - Monday, December 29, 2014 U.S. stocks took a breather Monday, following last week’s record gains . Meanwhile, market professionals are watching several key developments this week: political turmoil in Greece, declining energy prices and holiday season consumer confidence.All Related
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Were Going to Die: Survivors Recount Greek Ferry Fire Horror
ROME—When the two long whistles sounded to signal a fire aboard the Italian-flagged, Greek-run passenger ferry Norman Atlantic early Sunday ...
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US stocks trade mixed amid new fear over Greece
NEW YORK (AP) — U.S. stocks were mixed on Monday afternoon as Wall Street winds down the year in this holiday-shortened week. European indexes fell on news that Greece will hold early elections that could endanger its bailout program. Asian indexes rose after Chinese regulators announced measures to stimulate the world's second-largest economy.
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At least eight dead in Greek ferry fire
BARI, Italy — The death toll in the Greek ferry fire has risen to eight and rescue workers are investigating if more people are still missing, Italian ...
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Greece comes back to haunt eurozone as anti-Troika rebels scent power
The eurozone’s long-simmering crisis has returned with a vengeance as snap elections in Greece open the way for an anti-austerity government and a cathartic showdown over the terms of euro membership. Yields on 3-year Greek debt surged 185 basis points ...
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| READ THE ORIGINAL POST AT www.telegraph.co.uk |
Former finance minister due to face special court on Feb 25
A special court is due to begin hearing the case on February 25 against former Finance Minister Giorgos Papaconstantinou, who stands accused of doctoring a list of Greeks with deposits in Switzerland and removing the names of three relatives. He also face... ...
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Turkish jets violate Greek air space
Hellenic Air Force pilots on Monday chased off Turkish jets entering Greek air space without clearance on two separate occasions over the course of the day, the Defense Ministry announced. The first violation took place at 3.22 p.m. when two Turkish F-16s... ...
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SDOE raids continue over holiday season
The number of inspectors dispatched by Greece’s Financial Police (SDOE) to check whether businesses are complying with the law over the holiday season has been increased, with the first round of the raids over the week before and during Christmas revealin... ...
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Eurozone crisis fear over neck-and-neck Greek presidential vote that could trigger general election
Greek Prime Minister Antonis Samaras's candidate failed to get the necessary 180 votes meaning a snap election will be held in late January or early February.
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The Most Popular Word Of 2014 Was An Emoji
It turns out that the most popular word of 2014 wasn't actually a word at all. According to a new list by the Global Language Monitor, the heart emoji was the most commonly used word in the English language this year. GLM analyzed social media, blogs, and 275,000 print and electronic publications to determine its ranking. Words had to be used at least 25,000 times globally to qualify for the list. They also had to be used across industries and in several different forms of media. The heart emoji was used billions of times a day around the globe. It was the first time in the ranking's 15-year history that a symbol earned the top honors. "Hashtag" came in second, and "vape" was third. Of course, words like "the" were used way more frequently than some of the words on the list, but Paul JJ Payack, the founder of GLM, told Business Insider last year that GLM's rankings "distilled words that impact language in the news and global discussion." Last's year's top word was also not technically a word; it was 404" — as in the error message that appears when a web page can't load. The Top Words of 2014 1. The Heart ♥ Emoji (for love) — People usually use the heart emoji to express love or warm feelings. 2. Hashtag — A repurposed pound sign, still powerful thanks to Twitter and Instagram. 3. Vape — Short for vaporize, or vaping, the act of smoking an electronic or e-cigarette. 4. Blood Moon — Four total eclipses of the moon in an eighteen-month span. Some Christians see it as presaging a lunar apocalypse. 5. Nano — From Greek for dwarf, small; now 1 billionth of a meter. It's used in any number of words surrounding nano technology. 6. Photobomb — Breaking into a photograph without permission. 7. Caliphate — A land ruled by an Islamic Caliph, typically governed under Sharia Law. 8. Privilege — The alleged advantages of having lighter colored skin in a diverse society. 9. Bae — A millennial's term of endearment. 10. "Bash" Tag — Co-opting a brand's hashtag to undermine it. 11. Transparency — A state of openness, usually used in reference to the government. 12. Sustainable — Environmentally conscious lifestyle choices. 13. Clickbait — A link structured so that you just have to click on it. 14. Quindecennial — Fifteen-year anniversary of an event. 15. Comet — Comet 67p had a visitor from the Rosetta Spacecraft this fall.SEE ALSO: The Creator Of Minecraft Outbid Beyonce And Jay Z For This Bonkers $70 Million LA Mansion WE'RE ON INSTAGRAM: Click Here To Follow Us Join the conversation about this story »
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Greek opposition leader vows to protect Greek bank deposits
ATHENS (Reuters) - Greek opposition leader Alexis Tsipras on Monday promised to protect bank deposits in the country if he came to power in next month's election, in a bid to allay fears that his government would put the wealth of Greeks at risk.
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| READ THE ORIGINAL POST AT feeds.reuters.com |
Spectre of Grexit once again
Stakes are high as Greece faces elections
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| READ THE ORIGINAL POST AT www.bbc.co.uk |
The Guardian view on snap elections in Greece
Elections in Greece will raise the stakes over Europe’s austerity policiesThe election that the Greek prime minister, Antonis Samaras, has called after losing his gamble over the presidency on Monday represents the start of an even more uncertain era in Europe. The political forces set in motion by austerity policies designed to cope with the still unresolved economic crisis are coming to the fore everywhere, undermining established parties, changing the way countries are governed, and reshaping popular attitudes.New parties, as well as older but previously marginal ones, have grown apace. Some are getting closer to power, or at least to a share in it. If Syriza, the Greek radical leftist party, wins the elections scheduled for 25 January – and its chances of doing so are deemed to be good – it will have achieved such power, even if it has to rule in coalition. It will perhaps go down as the first true anti-austerity, as well as unashamedly anti-capitalist, party to come to office in Europe after 2008 changed the rules of the game. It might well set a precedent for other new parties, notably Podemos in Spain, which has burst from nowhere to become a serious rival to the ruling People’s party and the opposition Socialists. The question a Syriza victory could raise is whether a specifically anti-austerity party in a small country can force a change in an economic strategy for the whole eurozone that has been largely crafted by Germany, and which that nation has until now shown little readiness to change. Continue reading...
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Hopes for China Growth Nudge US Stocks Higher
Hopes of faster Chinese growth give US stocks a slight lift; Europe mixed on Greece worries
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| READ THE ORIGINAL POST AT abcnews.go.com |
Inspection of Greek blaze ferry just 10 DAYS ago found serious safety flaws
The Greek-operated Norman Atlantic was examined by a global maritime authority earlier this month and found to have faulty fire doors, too few life rafts and poor emergency lighting.
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| READ THE ORIGINAL POST AT www.dailymail.co.uk |
Drama in Greece: Could Political Turmoil Sink The Euro?
Failure to elect a new Greek President triggers a snap election. WIth the anti-austerity Syriza Party leading the polls, Greek woes raise questions over the viability of the euro.
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| READ THE ORIGINAL POST AT www.forbes.com |
Fears grow Greek turmoil could spread
Greece’s financial markets are in turmoil as a vote in parliament – failing to elect a new president – made a general election inevitable. The question now is whether this will spread to wider market volatility across Europe in the run-up to the ...
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Greeks prepare for polls and more uncertainty
Populist lead narrows, pointing to indecisive election
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