Greek restaurant 'littered with rat droppings' in Crouch End shuts down

A Greek restaurant in Crouch End was handed a hefty fine after inspectors found fridges caked with dirt and surfaces littered with rat droppings. Tweet.

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Uncertainty, sliding ruble threaten this year’s tourism flow

The danger of a Greek departure from the eurozone and the ensuing crisis that would erupt in the country’s economy have generated major fears among Greek tourism professionals ahead of a largely unpredictable season, according to the president of the Asso... ...

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One in three households earns less than 10,000 euros

Over a third of Greek households (34.4 percent) had an annual income of no more that 10,000 euros last year, according to a survey conducted by the Hellenic Confederation of Professionals, Craftsmen and Merchants (GSEVEE). A remarkably high 52 percent of ... ...

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Greece coach Tsanas prescribes 'youth' and planning' for Turkish football

For the Turkey's neighbor Greece the situation could not have been more the opposite. Ever since shocking the world winning the 2004 European ...

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Greek finance minister says bailout likely to be extended beyond end February

Greeks are voting in snap polls in less than two weeks with leftist party Syriza, which wants to renegotiate Greece's international bailout and ask Europe to write off a big chunk of the country's debt, consistently ahead in opinion polls. "The government ...

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Tsipras: German Taxpayers Should Not be Afraid of a SYRIZA Govt

His commitment that German taxpayers have nothing to be afraid of in the case of a new Greek government led by leftist anti-austerity party SYRIZA, expressed in an article for German business daily newspaper “Handelsblatt,” the party’s leader, Alexis Tsipras. The Greek main opposition leader’s article comes within a period when speculation regarding a possible renegotiation of the Greek debt’s loan conditions, in case SYRIZA wins the upcoming January 25 elections, is increasing, sparking worries in the country’s European partners. In addition, concerns have also been expressed concerning the possibility of SYRIZA demanding a further reduction in the Greek foreign debt, which according to German economists cited by Reuters, would cost German taxpayers some 40 billion euros. “German taxpayers have nothing to fear from a SYRIZA government. On the contrary. It is not our goal to aim for a confrontation with our partners, to get more credits or a license for new deficits… The aim is to stabilize the country, reach a balanced primary budget and end the bloodletting from German and Greek taxpayers,” Tsipras wrote, banishing the fears expressed in Berlin. At the same time, Tsipras, whose party is steadily leading the opinion polls just 12 days ahead of the critical Greek elections, believes that Greece would only be able to repay its debt if austerity measures were scrapped. “The truth is that the Greek debt won’t be paid back as long as our economy is continuously exposed to ‘fiscal waterboarding'”, he highlighted, adding that his intention is to keep Greece within the Eurozone: “Our goal is to reach a new agreement – within the Eurozone – that would allow the Greek people to breathe… and to live in dignity by restoring debt sustainability and find a way out of recession through financing growth,” Tsipras wrote, according to Reuters.

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Greek Fruit and Vegetables Export Value Reduced by 4% in 2014

The value of Greek fruit and vegetable exports has been slightly decreased between January and October 2014 and totaled some 765 million euros, almost 4% less compared to the same period last year. Despite the year’s good start, which came with an increase in the value of Greek products, and a 7.8% and 8.1% increase in the volume of fruit and vegetables, respectively, the Russian embargo imposed in European exports in August has finally damaged the value of Greek exports. The value of exports appeared to be on an encouraging rise at the beginning of the year, although the situation dramatically changed during the second half of 2014, when the Russian Federation imposed an embargo on European Union products, as an answer to the measures taken against it by Europeans due to the Ukrainian Crisis. This resulted in a 7.1% drop in value and a 14.7% drop in production volume, with exports dropping by 13% in September and 11% in October compared to the same months in 2013. Despite the Russian embargo though, the Greek exports increased by 3.5%, with Russia importing about 75,708 tons of produce worth 72,813,207 euros, followed by Serbia, FYROM and Albania, although the major factor for the 4% decease of turnover was that retail prices were significantly reduced. Characteristically, the exports to Russia in the ten-month period of 2014 were reduced by 31.1% in volume and by 35.1% in value. At the same time, some 213 tons of fresh vegetables, worth almost 137 million euros, and some 207 tons of fruit, worth almost 221.5 million euros, were imported to Greece. The fruit and vegetables imported to the country were bananas, apples, pineapples, lemons, tomatoes and potatoes.

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An Investment Adviser Who Sued Michael Lewis For Defamation Has Been Found Liable For Fraud

FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.  An Adviser Who Sued Michael Lewis For Depicting Him As A Villain Is Liable For Fraud (Reuters)  Wing Chau, an investment adviser featured in Michael Lewis' book "The Big Short," and his firm Harding Advisory LLC were found liable by the SEC. Chau was ordered to pay $340,000 and the firm was ordered to pay $1.7 million, reports Sarah N. Lynch. During his SEC trial, Chau infamously broken down crying on the stand and shouted "shame on you" to an SEC attorney questioning him. The SEC judge cited Chau's behavior on the stand by saying that his "histrionics... eroded his overall credibility," reports Lynch. "Investors Should Strongly Consider Avoiding The Russian Stock Market" (Morningstar) "The Russian stock market is incredibly cheap by any measure. But there are serious concern about rule of law. And with oil prices in the [$50] range, the Russian economy will likely contract in 2015. Investors should strongly consider avoiding the Russian stock market unless they have a very high risk tolerance and are willing to potentially lose all of their money," writes Timothy Strauts. The chart below looks at the performance of Russian stocks, Russian bonds denominated in US dollars and euros, the ruble, and oil prices, with respect to key geopolitical events that have rocked Russian over last year. EP Wealth Is Almost At $2 Billion AUM After A New Deal (Financial Planning) EP Wealth Advisors is at $1.9 billion AUM three months after acquiring Moore Financial Group, reports Ann Marsh. "It was an easy fit because we were very culturally aligned and our service offering was very similar and we had all the infrastructure that he was looking for," says EP president Patrick Goshtigian of Moore partner Jon Moore. If European Populist Parties Flourish, It Will Likely Lead To A Reversal Of Globalization (Advisor Perspectives)  Since the 2008 financial crisis, both left and right-wing populist parties have grown increasingly popular around Europe, including Syriza in Greece, Podemos in Spain, and the National Front in France. "In Europe, on the other hand, parliamentary systems can allow populist parties to exist on a small scale for years and flourish if conditions are favorable. If these populist parties in Europe gain power, it will likely lead to a reversal of globalization," writes Bill O'Grady. "If populist parties become powerful enough to control governments, we would expect the euro to depreciate; if governments threaten to exit the Eurozone and reintroduce legacy currencies, their bond yields would likely rise," he adds. Utility And Consumer Stocks Can Help Provide A Defense Against Market Volatility (InvestmentNews) "I don't think this will be the way it is all year, but if you're expecting more volatility or a sell-off at some point, getting defensive will work as a portfolio hedge," Quincy Krosby, market strategist at Prudential Financial Inc., told Jeff Benjamin. Krosby recommends a strategy of defensive positions in utility and consumer discretionary stocks and real estate investments on one side of the portfolio to offset riskier exposure on the other end.Join the conversation about this story »

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SYRIZA snubs Papandreou as KKE digs in heels

Greek election favorites SYRIZA on Tuesday ruled out cooperation with George Papandreou’s newly launched Movement of Democratic Socialists after the January 25 ballot, as the Communist Party (KKE) went on to snub Alexis Tsipras’s own political overture. “... ...

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Spanish leader Rajoy in Athens for talks as parties gear up for last phase of election campaigns

Spanish Prime Minister Mariano Rajoy will meet with Prime Minister Antonis Samaras on Wednesday morning and is expected to express support for his fellow conservative leader as Greece moves into the final stretch of its election campaign, in which New Dem... ...

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Europol Warns Europe of Terrorist Attack Threat by Weekend: Greek TV

Greek police has received an urgent warning from Europol about the possibility of a terrorist attack in one of the European countries, with most likely ...

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ECB's Nowotny Warns of Contagion Effects of Greek Exit From Eurozone

VIENNA–Greece's exit from the eurozone would have unknown contagion effects on the other members of the currency union, said Ewald Notwotny, ...

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Austerity: A Decisive Factor in Greek Elections (2/2)

PRODUCER, TRNN: We're in conversation with professor John Weeks about the Greek elections coming up on January 25 and austerity measures ...

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Seaplane Flights in Greece to Commence in 2015

“2015, if all goes well, will be the year that Greeks could fly almost everywhere by seaplane,” said president and CEO of Hellenic Seaplanes Nikos Charalambous. More than 40 water airports across Greece are currently at the final stages of development, said Charalambous. The nationwide water airports network will create many jobs, will boost the tourism industry and help in patients’ transportation. As far as the new hydroplane routes and the prospect of foreign investments, Charalambous noted that “Greece can become a Maldives in Europe. It is a destination tourists from across the world want to visit. Investments in tourism will not stop, whether we remain in the Eurozone or return to the drachma. What is required is to project the right image to the rest of the world. Efforts made to attract foreign investments should not stop every time we have political developments.” Regarding the cost of transportation, travel by seaplane will not be very expensive. For a half hour route, for example from Athens to Serifos, or Kos to Naxos, or Rhodes to Sitia, tickets are estimated at 75-80 euros. For a similar trip by conventional means of transportation, one should calculate costs to and from the airport, i.e. 35 euros to El. Venizelos airport, 22 euros from the Kos airport to the city of Kos, or 20 euros to Rhodes Airport. Charalambous said that prices can be reduced if economy scales are developed. According to the business plan for investors, Hellenic Seaplanes will start with four 19-seat seaplanes in 2015, and increase to 20 hydroplanes by 2017. The next step after the development of the national network of water airports will be to connect Greece with neighboring countries such as Turkey, Bulgaria, Italy and Croatia. Hellenic Seaplanes was established in May 2013 and came as a result of enormous interest for investments in the field of hydroplanes in Greece.

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Drachma lovers and union exploiters have been keeping their fingers crossed for SYRIZA

SYRIZA won't stop until the country has hit rock bottom - Its purpose is to make Greeks guinea pigs and the country identical to North Korea

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Tsipras : New Democracy has lost the election before its very beginning

The path that lies ahead isn't paved with rose petals - Contrary to Mr Samaras and his far right companions' efforts, Greece remains fearless in the face of empty threats and turns its back to scare tactics

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EU Court and Greek Elections may block QE from the ECB

EU Court and Greek Elections may block QE from the ECB ... As Lithuania joins the euro and Greek elections loom, decisions are critical for the ...

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Greek Riots: cavalier attitude

Five-piece Winnipeg band the Greek Riots bring a unique attitude to the genre of indie rock. After releasing their debut EP Cavalier in November of ...

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Greece may pull out of eurozone if government changes: Minister

The Greek finance minister has warned that Athens may exit the eurozone if a new government fails to reach an agreement with the country's ...

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Kenosha woman sells olive oil from her family farm — in Greece

Mavra Papadatos lives in Kenosha but is from Greece, where her olive oil comes from. Stores that carry it include Outpost, Metcalfe's Sentry in ...

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Spanish PM Rajoy to Visit Athens in Support of PM Samaras Ahead of Greek Elections

A few days after Spanish Finance Minister Luis De Guindos categorically denied that the critical January 25 Greek elections have any relevance with Spain, and just a few hours after the leader of leftist Podemos, Pablo Iglesias Turrion, sent a message to Greek voters in support of main opposition SYRIZA, Spanish Prime Minister Mariano Rajoy announced a surprise visit to Athens. The two Premiers will hold a joint press conference, during which Rajoy is expected to support Samaras ahead of the upcoming electoral battle against SYRIZA and its leader Alexis Tsipras. According to Spanish media leaks, Rajoy’s ruling Popular Party (PP) is expected to structure its campaign against Podemos – which is currently leading the opinion polls – in a similar way New Democracy has done in Greece. It will contrast the stability offered by Rajoy’s conservatives against the “chaos” that will allegedly equal a Podemos victory. It should be noted that 2015 is a year of triple elections in Spain. On Saturday, Spain’s Finance Minister denied that his party is already in an election campaign, while when asked if the Greek general elections can be seen as “the first round of the Spanish elections,” he replied that “Greece is Greece and Spain is Spain.” In a similar sense last week, Rajoy said he does not fear a “political contagion” from Greece to Spain and that the euro remains an “irreversible” reality. At the same time, the opinion polls in Greece give SYRIZA a steady lead over ruling New Democracy, whilst Spanish polls project Rajoy’s PP in second or even third place and trending downwards, when Podemos is given a clear lead. Tsipras “also knows, as we do, that winds of change are blowing and that the people of Southern Europe and their sovereign political forces are ready to change course and advance towards a Europe where social justice and popular sovereignty are the bases of a democracy that will know how to beat fear,” Iglesias Turrion wrote in Spanish daily newspaper “El Mundo” in late December 2014, revealing that the first “battle” for the European South will be given in 12 days from now in Greece. As Spanish newspaper “El Pais” revealed, Samaras and Rajoy agreed on the visit during the Paris solidarity march against terrorism last Sunday.

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‘Norman Atlantic’ Victims May Have Been Attacked by Sharks

Shocking new press leaks regarding the “Norman Atlantic” naval tragedy that cost the lives of 11 people appeared in the Italian press on Monday. According to information emerging from the Italian investigators as well as the medical examiner, some of the victims who have jumped overboard to save their lives, may have been attacked by sharks. Investigators said that wounds on at least one of the bodies resembled shark bites and a marine biologist will be called to assist the autopsies undergoing in Bari, Italy, Italian news agency ANSA stressed. Autopsies are to be carried out on nine recovered bodies. Based on the information emerging so far, though, it still remains unclear if the dead passengers were attacked by sharks prior to their death or after, when they were already drowned. The Italian-flagged passenger ferry “Norman Atlantic,” which belongs to Greek ferry line ANEK, sailing from Patras in western Greece to the Italian port of Ancona, was 33 nautical miles off the small island of Othonoi when it sent a distress signal on December 28. At least 11 people were killed, while more than 400 passengers and crew members were rescued in a huge operation in the Adriatic Sea, amid bad weather conditions with low temperatures, rough sea and strong winds. The number of Greek citizens missing after the fire on “Norman Atlantic” is nine, while three of their compatriots died. The prosecutor of Bari, who is in charge of the investigation regarding the naval tragedy, will seek the assistance of Greek, German and Turkish authorities in order to identify the corpses found through DNA tests. The ferry is currently docked at the port of Brindisi, although the city’s municipal authorities have declared that they will allow the charred ferry to remain there for two months at the most. Brindisi’s mayor, Mimmo Consales, said earlier this month that the fire-ravaged wreck would have to leave the city’s port within that timeframe for “both security and environmental reasons.” Finally, the Bari prosecutor revealed that the analysis of the two ferry’s Voyage Data Recorders (black boxes) is due to start on Tuesday, January 20.

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Greece’s rulers get desperate as left party Syriza leads ahead of election

… Tory New Democracy or Labour-type Pasok.  These parties have spent the … austerity measures that oppress the Greek people.” Tory prime minister Antonis … beginning of beating austerity in Greece.  Behind him stands the vicious …

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The Problem With The Interview Movie -- Forgetfulness

What troubles me most about a movie such as The Interview is that, rather than spur debate about the U.S.'s role in the world, it actually shuts down and forecloses such discussion. It does so by setting up a paper tiger in Kim Jung Un, the leader of North Korea, and allowing Americans to feel morally superior in terms of human rights and freedom. Such self-congratulations were on full display Sunday night at The Golden Globes where North Korea -- including through a racist sketch involving Margaret Cho dressed as a North Korean soldier and engaging in offensive Asian stereotyping -- was the butt of a number of jokes. First of all, it seems to me that while many seem to believe otherwise, setting up Kim Jung Un as a target of derision is not exactly a courageous or controversial thing to do in this country where there seems to be universal disdain of Mr. Kim. However, the process of demonizing Mr. Kim, and making his gruesome murder the punchline of a joke as The Interview does, allows Americans to do what they have been doing for decades -- ignoring the terrible and gruesome things that the U.S. did to the people of Korea and others in the Asian continent, such as in Vietnam. Many have described the Korean conflict of the 1950s as the "forgotten war." And, the truth is that most in the U.S. would like to forget the Korean war because the U.S. conducted itself in an unforgivable way during that conflict, carrying out what a number of scholars believe was genocide against Korean civilians. It is that reality which Americans must come to grips with -- as we self-righteously urge so many others to come to grips with their own human rights violations -- but it is that reality which movies like The Interview actively encourage us to keep ignoring. If one would like to start thinking about the U.S.'s own misdeeds in Korea, a good place to start is a paper written by Dong Choon Kim, a Professor of Sociology at Sungkonghoe University in Seoul, South Korea, and former Standing Commissioner of the Truth and Reconciliation Commission of Korea. This paper, published in the Journal of Genocide Research, and entitled, "Forgotten War, forgotten massacres - the Korea War (1950-1953) as licensed mass killings," challenges long-held beliefs in the U.S. that the Korean War was somehow a good and righteous war that the U.S. fought. As Dong Choon Kim shows, it was anything but. Professor Kim illuminates forgotten truths about the Korean War. Thus, he explains that (1) the war was greatly inspired by the U.S.'s efforts in Korea from 1945 to 1950 to restore fascist and dictatorial military leaders who had been trained by the Japanese, just as the U.S. had supported fascist restoration in Greece after World War II; (2) the U.S. provided critical military support to these rightist leaders in South Korea to carry out a "white terror" which included the murder of at least 100,000 Koreans between 1945 and the outbreak of the war in 1950, and the jailing of about 20,000 more who were later summarily killed; and (3) the U.S., fueled by anti-Asian racism, engaged in the indiscriminate slaughter of thousands of Korean civilians, numerous rapes of Korean women and the wholesale destruction of major Korean cities through massive aerial bombardment which included the large-scale use of napalm and incendiary bombs. As Professor Kim explains: According to the witnesses, US air and ground forces shot at children, women and aged people who were easily distinguishable as unarmed civilians. North Korean authorities have long accused American troops of 'criminal acts' before and after the outbreak of the Korean War. They maintained that the US army killed more than a million innocent civilians by bombing, shooting, and the use of napalm and chemical weapons. . . . [And] the facts on the ground force us not to discount their veracity. Professor Kim further notes that, "the U.S. soldiers killed civilian refugees lacking even a modicum of self-defense, including women and children, even when no North Korean soldiers or grass-root guerilla forces threatened them." And, he emphasizes "that the number of unarmed civilians killed under ROK [South Korean] and US command overwhelms those killed at the hands of North Korean command, contrary to the public knowledge about the Korean War atrocities." Professor Kim quite rightly concludes that the whole-sale atrocities committed by the U.S. during the Korean War foreshadowed, and help us to understand, the U.S.'s countless atrocities in later wars, such as in Vietnam (for example at Mai Lai and in other numerous massacres) and in Latin America as well. A recent book by Korean scholar, Bruce Cummings, entitled, The Korean War: A History fully supports the conclusions of Professor Kim, and opines that the U.S. was engaged in a racist, genocidal campaign in Korea. As Cummings poignantly notes, What hardly any Americans know or remember . . . is that we carpet-bombed the North for three years with next to no concern for civilian casualties. Even fewer will feel any connection to this. Yet when foreigners visit North Korea, this is the first thing they hear about the war. The air assaults ranged from the widespread and continual use of firebombing to threats to use nuclear and chemical weapons, finally to the destruction of huge North Korean dams in the last stages of the war. It was an application of the air campaigns against Japan and Germany, except that North Korea was a small Third World country that lost control of the air to the United States within days of the war's start. In short, the U.S. has absolutely nothing to be proud of when it comes to its treatment of the Korean people. And, to use a low-brow film such as The Interview as an occasion to somehow feel morally superior to a poor nation which has suffered greatly at our hands, but which we have never compensated for our crimes, simply demonstrates our own moral failings and, in truth, primes the American public for the next unjust war against Third World peoples.

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Court approves law for return of Greece's municipal police force

The Council of State, Greece’s highest administrative court, on Tuesday approved the government’s plan to re-establish the municipal police within the national force. The municipal police was disbanded in the summer of 2013 as part of the government’s dri... ...

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Discounts on trains and buses in Greece during election period

Passengers using intercity trains between January 22 and 28 will receive a 30 percent discount as part of a promotion by the Hellenic Railways Organization (OSE) to coincide with the January 25 elections. Customers buying tickets in advance will also rece... ...

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Greek Charitable Organization “Apostoli” collaborates with the Archbishopric of Belgrade

For many years now the Greek charitable organization “Apostoli” (Mission) supports with food, clothing and medicines the people in real need of Kosovo

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Former PASOK Minister to return €230K in SIEMENS bribes

Former Transportation Minister Tasos Mantelis (PASOK) has decided to return the money he is being accused to have received as bribe by SIEMENS in order to receive reduced punishment. According to Greek media, Mantelis has declared to give 450,000 DM (230,000 euro) to public revenues office in order to enjoy favorable […]

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Greek Inflation Rate -2.6% in December 2014

Greek inflation rate fell deeper into negative territory in December (-2.6%), from -1.2% in November, for an average deflation rate of -1.3% in 2014, the Hellenic Statistical Authority (ELSTAT) said on Tuesday. The statistics service said that on a monthly basis, price increases were recorded in fresh fish (2.5%), dairy/eggs (0.4%), lamb (2.7%), fresh poultry (2.7%) and drugs (0.9%), while price declines were recorded in heating oil (8.1%), petrol (6.6%), fresh fruit (6.7%) and fresh vegetables (3.6%). On an annual basis, price increases were recorded in urban transport (10.6%), air travel (9.4%), electricity rates (4.9%), tobacco (3.3%), olive oil (3.3%) and feta cheese (1.3%), while on the other hand, price declines were recorded in fresh potatoes (23.2%), sugar (14.3%), heating oil (25%) and petrol (10.8%). ELSTAT attributed the 2.6% decline in consumer price inflation in December to drops of 1.2% in food/beverage prices, 3.9% in clothing/footwear, 7.1% in housing, 1.7% in durable goods, 1.0% in health, 4.2% in transport, 1.7% in entertainment, 3.1% in education, 1.2% in hotels/restaurants and 2.4% in other goods and services. Inflation rate fell 0.5% in December, compared to November 2014, after a 0.9% increase recorded in the same period in 2013. The average inflation rate in the January-December 2014 period was -1.3%, compared to -0.9% in 2013. Greece’s harmonized inflation rate was -2.5% in December, from -1.2% in November. (source: ana-mpa)

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Greek National Council for Education Agrees on Deciding Method for Higher Education Admissions

The number of students admitted to Greece’s universities and Technical Educational Institutes (TEI) will be set by a joint decision of the Education Ministry, higher education institutes and the Authority for Ensuring Quality in Higher Education, the National Council for Education decided on Monday. The decision was made at a meeting also attended by representatives of the country’s universities and TEI. “We are all here at the Education and Religion Ministry, very satisifed because an issue that we raised in November, agreeing to meet now in January, is ending very well,” Greek Education Minister Andreas Loverdos commented after the meeting. The Ministry had originally proposed that the higher education institutes have full control over the number of students admitted but rectors disagreed, proposing the above solution that the Minister agreed to. He said the number of student transfers based on social criteria should also be decided in the same way. (source: ana-mpa)

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Greek official refutes charge that Jews don’t pay taxes

… , Greece (JTA) — A Greek government official has been forced to clarify that Greek … theories, lies and slander,” the Kathimerini newspaper reported. Last month, right-wing … anti-Semitic stereotypes are widespread in Greece, which has the highest percentage …

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Gold bulls – beware of Greeks bearing gifts!

The prospect of a Syriza victory in the Greek elections next week has been gold price supportive, but beware – it's not a foregone conclusion.

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Greeks Risk Accidental Euro Exit With Syriza, Finance Chief Says

… force Greece out of the currency bloc. The yield on Greece’s … history. Euro Defenses Since the Greek elections of that year, he … result of the electoral uncertainty. Greece’s 2014 primary budget surplus …

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Size of Greece's debt limits scope for solutions

On the day Greece made its celebrated return to international markets in April 2014, activists detonated a car bomb outside the central bank in Athens.

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3 Things You Need To Know About National Bank of Greece (NYSE:NBG)

Greece – a country at a cross roads, and the same with this bank. Here are 3 important things you need to know about the $5.9 billion market cap ...

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Fresh bourse gains as poll leader SYRIZA softens stance

Steering clear of any anti-bailout rhetoric and offering lukewarm assurances of honoring Greece’s commitments, poll-leading SYRIZA leader Alexis Tsipras has fueled market hopes that the change in government expected after the January 25 election will not ... ...

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Le Monde: Regulator in Greece will be the third party

The French government precludes the possibility of a one party government

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Limited scope to lighten Greece’s debt

Options such as cheap fixed rate loans could be hard for some in eurozone to swallow

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The Politics Behind the ECB's Threat to Cut Greece Funding

The European Central Bank is threatening to choke off funding to Greece’s lenders in the hope it won’t actually need to. Parliamentary elections on Jan. 25 hinge on whether Greek voters are willing to accept a strings-attached successor to the country ...

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Greek finmin says Greek bailout likely to be extended beyond end Feb.

A new Greek government that will take power after an election on Jan. 25 will have limited time to conclude a stalled bailout review and an extension is likely to be required, the Greek finance minister ...

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SYRIZA Will Face a €7 Billion Funding Gap if Creditors Back Out

Greece will face a 7-billion-euro funding gap in March if SYRIZA comes to power and clashes with the country’s international creditors who will stop the 7.2-billion-euro installment of the current bailout program, said a report of Greek newspaper “Proto Thema.” In March, Greece has to come up with 4.6 billion euros for bond maturities. Total bond maturities for 2015 come up to 31 billion euros. Therefore, issuing Treasury bills, even if the Troika of international creditors allow it, won’t exceed 4-5 billion euros, financial analysts say. Also, tax revenue is not guaranteed to reach the desired amounts. Athens must collect 4-5 billion euros each month from taxes. So far, tax revenue ranges 40-50% below target. The new government needs 17-22 billion euros for its funding needs in 2015, provided that tax revenue is as high as projected in the state budget. In February, the government has to return 2 billion euros to Greek creditors. In March, Athens needs another 1.5 billion euros for the first of three equal installments to the International Monetary Fund (IMF). The other two are due in June and September. In July and August, Greece needs 17.585 billion euros for maturing five and 10-year bonds. In July, 9.585 billion euros are needed for 10-year bonds with 3.7% yield, while another 8 billion are due one month later for 5-year bonds with 6.1% yield. At that time, salaries and pensions require an additional revenue of 17-22 billion euros. Therefore, the 7.2 billion euros from the international creditors are crucial for Greek economy, whether the need arises in March or in July.

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Artwork on Frozen Greek Lake

Even though the weather calms down in most parts of Greece and there is no more snowfall, cold still remains. Especially in northern Greece, temperature dropped below zero. As a result, cold is keeping a lot of people inside their homes, but also creates beautiful pieces of ice that are considered to be art by many. For example, near the frozen lake of Kastoria, the icy colors have combined with snow, creating a majestic landscape. Residents are admiring the art created by nature and share their photos on social media. The lake and surrounding area is a rich ecosystem, hosting more than 200 bird species. The lake is also very rich in fish and is considered the second lake in Greece, in regards to the quantity of fish species. Many people arrive in the area every year to fish for carp, pike, sheatfish, tench, bass or roach. (Photos by fouit.gr)

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Over 100 Years of Greek Food, Culture and Entrepreneurial Spirit

The Museum of History & Industry in Seattle, Washington, in partnership with the Greek-American Historical Museum of Washington State, invites you ...

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Ambassador grateful to Armenia for Greek Genocide condemning draft statement

YEREVAN, JANUARY 13, ARMENPRESS: On January 13 the Deputy Speaker of the National Assembly (NA) of the Republic of Armenia (RA) Eduard ...

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Saving the Euro and Greece Should be Europe's Top Priority

ecb_2.jpg Home Page News Page Euro/Greece Crisis Should not be an Option Greece is again making headlines, and markets are concerned the euro crisis is back. Greece is again making headlines, and markets are concerned the euro crisis is back. Actually, the crisis never left. It is just that for a little while both the authorities and the markets chose to cherish the delusion that policies and institutions were set in place that would shore up Europe’s troubled currency union. How wrong they were. Actually, the crisis never left. It is just that for a little while both the authorities and the markets chose to cherish the delusion that policies and institutions were set in place that would shore up Europe’s troubled currency union. How wrong they were. Stuck in gloom and stagnation, the euro area is dancing on the edge of the abyss of debt deflation, in which falling prices and incomes make paying off obligations increasingly difficult. See Also links url:  http://www.economywatch.com/features/Are-Euro-Area-Deflation-Fears-Well-Founded.01-07-15.html Title:  Are Euro Area Deflation Fears Well-Founded? See Also type:  Reference read more

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WSJ analysis of Greek mindsets prior to elections

The famous newspaper analyses the current trends in Greek society

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'Placing EU in euro currency straitjacket made life impossible'

Austerity measures in Greece don't work anymore, as the single currency put all EU countries in a straitjacket, and Greek olive oil is priced in relation ...

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Journese adds Greece to its Europe portfolio

WESTLAKE VILLAGE, CALIF. – Journese continues to expand its European portfolio with the addition of Greece, featured in the four-color Greece ...

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American-born former prime minister could be wild card in Greece’s messy election

Forged by crisis, Greece's parliamentary elections later this month are being framed by two very different choices. There’s the angry political upstart who wants to tear up the bailout deals that saved the country from financial collapse but enforced ...

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Syriza’s Rena Dourou: ‘The left will bring a breath of fresh air’

The prefect of Athens, the only member of the leftist party in high office, plans to lead by example – with hard workWhen Rena Dourou assumed her duties as prefect of the Attica region, staff collectively held their breath. As the only member of Greece’s radical left Syriza party to be elected to high public office, the politician had promised a root-and-branch cleanup following her victory in local polls last May. Where would the combative 40-year-old begin? With the corruption that was endemic in the state sector, or the cronyism that for 40 years had oiled its wheels?“By example,” she says, pointedly reclining into a sofa at the end of a 12-hour day. “The first thing I wanted to show is my belief in the value of hard work. I didn’t get here because I thought all this should come to me. I have never known privilege, and that is the difference between us and them.” Continue reading...

READ THE ORIGINAL POST AT www.theguardian.com