How the world sees Greece
In Berlin, views on Greece’s possible exit from the eurozone are shifting. “We have never been closer to a Grexit, and we are close,” said a senior official, as financial analyst Charles Grant writes in an article for Guardian. The last time ...
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German Chancellor Angela Merkel said on Thursday that everything must be done to prevent Greece running out of money before a reform-for-cash deal is reached with its international creditors. Speaking after a private meeting which she described as "constructive" with Greek ...
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The risk that Greece would have to leave the euro if it has to accept more austerity is no bluff, Greek Finance Minister Yanis Varoufakis told a French magazine, saying that no one could predict what the consequences of such ...
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PARIS (Reuters) - The risk that Greece would have to leave the euro if it has to accept more austerity is no bluff, Greek Finance Minister Yanis ...
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ATHENS (Reuters) - Greek construction magnate Leonidas Bobolas told Reuters on Thursday he was upset by the way authorities had arrested him to ...
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Any deal that shifts the focus down the road will probably only see a marginal move up in the euro. The price action we saw when Greece announced ...
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Hospital workers and pharmacists on Friday joined the growing list of those concerned about the legislative decree forcing public bodies to deposit their cash reserves at the Bank of Greece so the central government can use them to pay debt obligations.
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An 18-year-old man arrested trying to cross into Greece illegally from Albania was on his way to Syria to join Islamic State fighters, sources told Kathimerini Thursday.
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The historic city of Nafplio, in the eastern Peloponnese, is set to host next month’s 2nd Mediterranean Yacht Show, organized by the Greek Yachting Association, thus establishing itself as a destination on the Greek yachting map, as Nafplio Mayor Dimitris Kostouros stated on Thursday during a presentation for the event.
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At an emergency summit in Brussels on Thursday European Union leaders agreed on a series of measures aimed at addressing the growing flows of migrants to Europe, which have become an increasing challenge for Mediterranean countries like Greece to deal with.
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Optimists came out on top at the end of Thursday’s Athens bourse session, as the positive signs from the meeting between Prime Minister Alexis Tsipras and German Chancellor Angela Merkel appeared to have give the negotiation process a boost.
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Bulgaria has reportedly inked a deal on a new “gas corridor” with Romania and Greece which will be completed in 2018, and is expected to cut the ...
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Scholars believe William Shakespeare was born on April 23, 1564. Whether you're a fan or not, you probably use many of his phrases on a regular basis — 451 years later. We created a list of 13 popular sayings The Bard coined. In fact, we say or write some of them so often they've become clichés. 1. "Green-eyed monster" Meaning: jealousy. In "Othello," Iago describes jealousy as a monster that devours its source. "Oh, beware, my lord, of jealousy!It is the green-eyed monster which doth mockThe meat it feeds on" (Act 3, Scene 3). In this case, Iago uses romance as an example. He thinks a man would rather know his wife is cheating than suspect her without proof. 2. "In a pickle" Meaning: a difficult or uncomfortable situation. In "The Tempest," King Alonso asks his jester, Trinculo, "How camest thou in this pickle?" (In other words, "How did you get so drunk?") The inebriated Trinculo responds, "I have been in such a pickle since I saw you last ... " (Act 5, Scene 1). Trinculo's drinking does cause trouble for him, which gives the modern use its meaning. Shakespeare's original intent makes sense though, as many pickling processes require alcohol. 3. "The world is your oyster" Meaning: being in a position to take advantage of life's opportunities. In "The Merry Wives of Windsor," Falstaff refuses to lend Pistol any money. Pistol retorts, "Why, then the world's mine oyster, which I with sword will open" (Act 2, Scene 2). Since Falstaff won't help Pistol financially, he vows to obtain his fortune using violent means. We've dropped the angry undertones for modern use. 4. "Catch a cold" Meaning: to get sick. In "Cymbeline," one of Shakespeare's lesser-known plays, Iachimo says to Posthumus Leonatus, "We will have these things set down by lawful counsel, and straight away for Britain, lest the bargain should catch cold and starve ... " (Act 1, Scene 4). In other words, if the deal takes too long it will fall apart. This created the idea of "cold" causing an unwanted event, like illness, for the first time. 5. "It's all Greek to me." Meaning: that something is indistinguishable or incomprehensible. In "Julius Caesar," when Cassius asks Casca what Cicero said, Casca responds, "But, for mine own part, it was Greek to me" (Act 1, Scene 2). Cassius didn't understand because he doesn't speak Greek. The phrase has lots some of literalness. 6. "Love is blind" Meaning: an inability to see shortcomings in a lover; doing crazy things when in love. In the "The Merchant Of Venice," Jessica disguises herself as a boy just to see her beloved, Lorenzo. Needless to say, she feels a little silly but simply has to see him. "But love is blind, and lovers cannot seeThe pretty follies that themselves commit ... " (Act 2, Scene 6) 7. "Wild goose chase" Meaning: a hopeless and never-ending pursuit. In "Romeo and Juliet," Romeo makes a play on words comparing his shoe to his penis, and Mercutio just can't compete with Romeo's wit. He tells Romeo to stop joking, but Romeo implores his friend to continue — an impossible feat in Mercutio's mind. Mercutio says, "Nay, if our wits run the wild-goose chase, I am done, for thou hast more of the wild-goose in one of thy wits than, I am sure, I have in my whole five" (Act 2, Scene 4). 8. "A heart of gold" Meaning: a very kind or honorable person. In "Henry V," King Henry disguises himself as a commoner, and Pistol, unaware of the King's true identity, speaks to him. When the King asks if he considers himself a better man than the king, Pistol says, "The king's a bawcock, and a heart of gold, a lad of life, an imp of fame ... " (Act 4, Scene 1). Today, however, we say someone "has" a heart of gold, not that he or she "is" one. 9. "Break the ice" Meaning: to start conversation. "And if you break the ice, and do this feat, Achieve the elder, set the younger free ... " (Act 1, Scene 2). In the "The Taming Of The Shrew," Baptista Minola has two daughters: a sassy one and a modest, beautiful one — the younger daughter. He refuses to let any suitors even speak to his younger daughter until his older daughter marries. Tranio (as Lucentio) suggests that another man marry the older daughter, so he can try to win the younger one's affection. But first, he must "break the ice" — maybe a reference to her heart. 10. "Laughing stock" Meaning: a person subjected to ridicule. In "The Merry Wives Of Windsor," Doctor Caius says to Sir Hugh Evans: "Pray you let us not be laughing-stocks to other men's humours;I desire you in friendship, and I will one way or other make you amends" (Act 3, Scene 1). Here, Doctor Caius thinks the two will make fools of themselves if they fight — exactly what people want and expect. They should end the conflict and save their reputations instead. 11. "Wear your heart on your sleeve" Meaning: to express your emotions openly, especially when others notice without much effort. In "Othello," Iago says he'll "wear my heart upon my sleeve. For daws to peck at: I am not what I am" (Act 1, Scene 1). The phrase most likely stemmed from jousting matches in the Middle Ages. Knights would wear tokens (such as scarfs) from their ladies tucked into the sleeves of their armor. But the first recorded use appears in Shakespeare's play. 12. "Dogs of war" Meaning: soldiers; the brutalities that accompany war. In "Julius Caesar," Mark Antony says to Brutus and Cassius, "Cry 'Havoc!' and let slip the dogs of war ... " (Act 3, Scene 1) shortly after Caesar's assassination. Here, Mark Antony predicts that Caesar's ghost will come back, with help from the goddess of vengeance, to start a massive war in Italy. He continues, "This foul deed will stink up to the sky with men’s corpses, which will beg to be buried" (Act 3, Scene 1). Thus the phrase today, either referring to soldiers or brutality in general, carries a serious connotation. 13. "Method to his madness" Meaning: Someone's strange behavior has a purpose. In "Hamlet" Polonius says as an aside, "Though this be madness, yet there is method in’t" (Act 2, Scene 2). Just before this, Hamlet randomly pretends to read a passage from his book that makes fun of the elderly. Polonius, an old man, doesn't fully understand the jab but knows Hamlet has some "method" behind this "madness."SEE ALSO: 12 Famous Quotes That People Always Get Wrong Join the conversation about this story » NOW WATCH: This guy went from homeless to making $25,000 per Vine
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Stocks are rallying on Thursday, with the Nasdaq pushing back above its all-time closing high hit back in March 2000. But after opening lower and doing nothing for the first couple hours of trading, stocks rocketed higher near noon and haven't looked back since. There was no obvious reason for the surge, but then again so many moves in markets don't have a single obvious catalyst. Via Rich Barry, floor governor at the NYSE, here's what traders are saying on Thursday about the big pop in stocks: ** Market Alert: we are on the verge of finally breaking out of a trading range we have been stuck in in all year — and to the upside!! Stocks actually opened to the downside this morning. Then, just before the crack of noon, we saw the S&P 500 spike from -2 to +8 handles in a half a nano-second. We immediately turned to the resident guru and CNBC superstar for some color. "Looks like the move was triggered by algorithmic short-covering and trend-joining, turning the move into a mini-spike. Some claim it was a vague undefinable rumor of a breakthrough on Greece but I think spontaneous combustion, (a higher high), was the trigger." Whew... Here's the quick move in the S&P 500: And the rally to record highs in the Nasdaq: Join the conversation about this story » NOW WATCH: Here's what it takes to be President Obama's right-hand man
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A boatload of 93 illegal migrants plus three suspected traffickers rescued on Thursday while adrift in a wooden craft near Rafina, Greece, will be temporarily housed in an indoor basketball court, authorities announced. According to information from Greek Coast Guard sources, authorities were alerted by someone onboard the vessel that telephoned the European emergency number 112 and reported that a boat carrying roughly 85 people, including women and children, was in danger. The boat was located and two rescue boats plus a Coast Guard patrol boat were sent to the scene. The migrants were then transferred to the port of Rafina and their wooden craft was confiscated and taken to the Greek island of Karystos. A pregnant woman was taken to the local health center for a precautionary check-up but found to be in good health. Authorities do not yet know where the wooden craft set sail from and whether its destination was Greece. A final headcount showed that there were 74 men, seven women and 12 children onboard the vessel, as well as three men of Ukrainian nationality that are suspected of organizing the migrants’ transfer and are being held at the Rafina Coast Guard building for questioning. (source: ana-mpa)
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At least one person was killed and a second was taken to the hospital in critical condition as a result of a major fire that broke out inside an abandoned factory in Volos, Greece, just before 1:00 pm on Thursday. The dead man was suspected to be a foreign national, while the second man was admitted to the Volos hospital ICU with extensive burns covering 90% of his body. Both men were later identified as Bulgarian nationals. The Greek Fire Brigade, with reinforcement sent in from surrounding regions, finally succeeded in putting out the blaze on Thursday evening. Firefighters are continuing a search of the premises to determine the cause of the fire and whether more people may have been trapped inside after the factory’s roof collapsed. According to sources, another two individuals that may have lighter injuries were seen exiting the factory when the fire broke out and headed off in an unknown direction. It is considered possible that the four people had entered the factory in order to scavenge metal that they could later sell. The cause of the fire has not yet been discovered but firemen believe it spread quickly due to the flammable materials in the building. (source: ana-mpa)
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The US is scrambling to head off a Greek pipeline deal with Russia, fearing a disastrous change in the strategic balance of the Eastern Mediterranean ...
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Greek Prime Minister Alexis Tsipras called for a speeding up of work to conclude a reform-for-cash deal with euro zone creditors to keep his country ...
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Greece, Italy and Spain saw the biggest declines in national average happiness because their social institutions were too weak to handle stresses ...
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MUNICH – Greece's government, led by the left-wing Syriza party, is demanding a new deal from its European creditors, claiming that the bailout ...
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Greek prime minister urges German chancellor to speed up deadlocked negotiations over aid package, as eurozone economy slowsGreece’s increasingly desperate financial state was highlighted on Thursday when the country’s prime minister Alexis Tsipras urged the German chancellor Angela Merkel to use her influence to speed up deadlocked negotiations over a new aid package.Amid signs that the long-running talks between Athens and its creditors are having a dampening effect on the eurozone economy, Tsipras used a meeting with Merkel in Brussels to seek an interim deal by the end of the month that would provide money in return for a Greek commitment to reform. Continue reading...
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Greek Prime Minister Alexis Tsipras and the President of the European Commission Jean-Claude Juncker at the Brussels summit on Thursday. The pictures speak for themsleves!
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Given the candidness of Pope Francis, it was not surprising that he clearly acknowledged the Armenian Genocide during the Pontifical Divine Liturgy at St. Peter's Basilica in the Vatican on April 12. The only person who was clueless about the Pope's true intentions was Mehmet Pacaci, Turkey's ambassador to the Vatican, who had bragged to the Turkish press two weeks ago that he had convinced the Pope to reject all Armenian requests for the Genocide Centennial. The Turkish ambassador claimed that he had managed to: -- Cancel the Pope's April 24 visit to Yerevan; -- Convince the Pope not to celebrate Mass at the Vatican on April 24; -- Eliminate the words 'Armenian Genocide' from the Pope's address during the April 12 Vatican Mass. The Turkish and Azerbaijani media reported Amb. Pacaci's contentions as a major victory for Turkish diplomacy and a devastating defeat for Armenians. Amb. Pacaci's false claims were simply intended to impress his superiors in Ankara about his 'good work.' The truth is that the Pope had neither planned to visit Yerevan on April 24 nor celebrate Mass at the Vatican on that date. The Turkish ambassador's third claim that the Pope would not use the term 'Armenian Genocide' during his April 12 address, but would only offer "prayers for all those who lost their lives during the tragic events of 1915," also turned out to be false! Contrary to Amb. Pacaci's real or imaginary pressures on the Vatican, the Pope made an explicit and lengthy reference to the Armenian Genocide at St. Peter's Basilica on April 12 which was broadcast worldwide on TV networks, radio stations, newspapers, and the internet. In attendance were Armenia's President Serzh Sargsyan, His Holiness Catholicos of All Armenians Karekin II, His Holiness Catholicos of the Great House of Cilicia Aram I, Patriarch of Armenian Catholics Nerses Bedros XIX, and thousands of worshippers from dozens of countries. Here are excerpts from the Pope's remarks: "In the past century our human family has lived through three massive and unprecedented tragedies. The first, which is widely considered 'the first genocide of the 20th Century', struck your own Armenian people, the first Christian nation, as well as Catholic and Orthodox Syrians, Assyrians, Chaldeans and Greeks. Bishops and priests, religious women and men, the elderly and even defenseless children and the sick were murdered. The other two were perpetrated by Nazism and Stalinism. And more recently, there have been other mass killings, like those in Cambodia, Rwanda, Burundi and Bosnia. It seems that humanity is incapable of putting an end to the shedding of innocent blood.... Dear Armenian Christians, today, with hearts filled with pain, but at the same time with great hope in the risen Lord, we recall the Centenary of that tragic event -- that immense and senseless slaughter -- whose cruelty your forefathers had to endure. It is necessary, and indeed a duty, to honor their memory, for whenever memory fades, it means that evil allows wounds to fester. Concealing or denying evil is like allowing a wound to keep bleeding without bandaging it!" Pope Francis had repeatedly spoken about the Armenian Genocide when he was a Cardinal in Argentina, and had included three references to that issue in his 2010 book, "On Heaven and Earth." On June 3, 2013, shortly after his election, Pope Francis described the Armenian Genocide as "the first genocide of the 20th Century." The Vatican had first referred to the Armenian mass killings on Sept. 10, 1915, when Pope Benedict XV sent a letter to Sultan Mahomet V, asking him to stop the wholesale massacres of innocent Armenians. Twice, on Nov. 9, 2000, and Sept. 27, 2001, Pope John Paul II and Catholicos Karekin II issued joint statements acknowledging the Armenian Genocide. Not surprisingly, the Turkish government reacted angrily to the Pope's latest reference to the Armenian Genocide, and immediately recalled its ambassador from the Vatican. Amb. Pacaci may now get fired for having falsely claimed that he had succeeded in silencing the Pope on the Armenian Genocide issue. Meanwhile, the Turkish government's overreaction and the Pope's refusal to apologize for his remarks made international headlines on TV networks, websites and newspapers around the world. The long-planned Turkish efforts to undermine the Centennial of the Armenian Genocide have been drowned out by the extensive media attention to the Kardashians' maiden visit to Armenia and the Pope's courageous reaffirmation of the Armenian Genocide right before April 24. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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A delicious spring or summer time option, when you want something hearty but easy to make, is to prepare a simple Greek or Mediterranean-style ...
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The euro strengthened the most in one week against the dollar on speculation that Greece and its creditors will reach a deal to receive aid payments ...
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A Greek government official told Reuters in Athens that Tsipras would outline specific reforms to Merkel in a bid to appease creditors and is hoping she ...
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NEW YORK, April 23 (Reuters) - The dollar fell against most other major currencies on Thursday, while the euro rose on waning fears of a Greek ...
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“We are seeing comments from the Greek government this afternoon suggesting that they have had a positive talk with the German government,” said ...
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RHODES, Greece (AP) — Locals know to avoid the razor-sharp rocks and strong currents near Zefyros Beach on the Greek island of Rhodes. But 93 migrants fleeing war and political chaos on another continent had no idea of the dangers as they caught their first glimpse of Europe and the current pulled their rickety wooden boat toward shore.
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Greece and its international creditors have not agreed on a “Plan B” in case the country fails to pay the International Monetary Fund (IMF) on time or default, as there is still no agreement over the disbursement of its bailout funds, a senior Greek official revealed. Earlier today, Greek Prime Minister Alexis Tsipras met with German Chancellor Angela Merkel on the sidelines of a European Union summit focusing on migration policy. The two leaders’ meeting was reportedly held in a positive climate, while the Greek Premier requested to speed up the process in order to conclude a reform-for-cash deal with the single currency officials as agreed on the February 20 Eurogroup. On her behalf, the German Chancellor pushed Tsipras to implement economic reforms that would allow the disbursement of about seven billion euros of fresh bailout funds. “The Greek government has got to show some backbone in its reform efforts,” European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici said earlier today, adding that “time is of the essence and it is really an urgent matter.” A failure to find common ground would be viewed in Greece as a political event and dealt with in a political manner, the same unnamed Greek official said, leaving at the same time the possibility of snap elections and a referendum open. Although, as he concluded, such scenarios remain in a hypothetical sphere and do not affect the leftist-led government’s agenda. Finally, according to yesterday’s reports, the German Finance Ministry appears rather skeptical ahead of Friday’s Eurogroup in Riga, Latvia, where Greece’s proposed reforms list will be examined. According to Finance Minister Wolfgang Schaeuble’s spokesperson Martin Jaeger, Berlin has limited expectations from the Riga meeting regarding Greece’s crisis.
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SkyGreece Airlines will act as a communication bridge between the Greek Diaspora in the U.S. and Canada and the motherland through the launch of transatlantic flights from Greece to New York and Toronto. During a press conference that took place on April 22 in the presence of Greek Deputy Tourism Minister Elena Kountoura, the company explained that its primary goal is to connect the Greek Diaspora members with Greece. Therefore, they have arranged for regular and not seasonal direct flights with low fares. The company was founded by Greek Diaspora members with experience in the fields of aviation and tourism. On May 24, the company will make the first flight from Athens to Toronto, while on June 18 another flight will depart for Toronto from Thessaloniki, making a stop in Budapest, Hungary. Furthermore, the first SkyGreece Airlines flight from Athens to New York will take place on June 19. Most routes have three scheduled flights per week. During the winter the numbers will drop to two flights per week between Athens and New York, one flight between Athens and Toronto and one flight from Dubai to Toronto. Kountoura expressed the Greek government’s support toward SkyGreece Airlines’ great endeavor, noting that the company will act as a link between Greeks abroad and the motherland. In the long-term, the company plans on adding several flight routes between Greece, Chicago, Boston and South Africa. The company is based in Markopoulo, Attica, and also has offices in Montreal, Toronto and New York. It employs 150 people in total, 100 of which work in Greece, while another 60 will be recruited in cabin crew positions.
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Internationally acclaimed Greek documentary “Agora: From Democracy to the Market” will have its German festival premiere at the 30th International Documentary Film Festival DOK.FEST in Munich from May 7 to May 15. DOK.FEST is one of the major documentary film festivals in Germany and Europe. 146 films from 37 countries have been selected with “Agora” being the only Greek production featured in this year’s program. The documentary on the Greek crisis has been officially selected for the DOK.Money section, a film program focusing on various aspects of today’s global economy. Film director Yorgos Avgeropoulos will attend the premiere on May 14 and will hold a Q&A session with the audience. Two more screenings on May 15 and 17 will follow. German audiences’ longing for an alternative understanding of the Greek crisis has led to upcoming “Agora” screenings in three German cities. After its first TV broadcast by German Public Television WDR, the film will be screened at the Werkstatt der Kulturen in Berlin on April 16 as part of a special event dedicated to Greece and Europe. It will also have a special screening in Muenster on May 11, organized by the Greek-German Society and Attac Muenster, and at the Ulmer Volkshochschule in Ulm on May 18. Screenings in Greece and abroad Avgeropoulos has been invited by the Greek Cinema Club of Luxembourg to present “Agora” at Cine Utopia in Luxembourg on April 21 while a second screening will follow on April 22. On April 24, the film will be screened in Athens as part of the special tribute to Greek documentary films “With eyes wide open” organized by the Greek Documentary Association, Thessaloniki Documentary Festival and Technopolis City of Athens. More screenings will be held in various Greek cities. The Agora was a central area in Ancient Greece city-states. It was a gathering place, an assembly of active citizens and the City center for political, economic, athletic, artistic and spiritual life. It was the heart of Democracy. In Modern Greece, the word Agora has lost its initial sense and has come to denote solely the place and act of commercial transactions. It is a dominant word in the reality experienced by Greeks today, as the country goes through an economical vortex that devours human lives in its path. Greece, a symbol for the European civilization due to its Ancient heritage, is experiencing conditions in post-war history that no European thought would face again. Homeless people, soup kitchens, unemployment, poverty, an unsettled social situation, violent conflicts and the rise of the extreme-right. The dream of prosperity has turned into a nightmare and the political scene of the last four decades is crumbling. Avgeropoulos witnesses the fall. After 13 years of ongoing reporting and documenting global issues, he urgently turns his camera toward his homeland. He records the crisis’ development from its early stage, while tracing its impact on the lives of simple people from all social classes whom he observes over time. He witnesses popular protests in the streets, the development of solidarity movements as well as the rise of fascism, while at the same time he seeks answers from his country’s most significant political personalities, insiders, analysts and key decision makers from the international political scene. “Agora” is an international co-production between Small Planet (Greece), Westdeutscher Rundfunk (Germany) and Al Jazeera Arabic (Qatar).
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Cypriot President Nicos Anastasiades highlighted that the prospects to resume talks on the Cyprus problem are being created. As he noted, the dialogue between the Greek-Cypriot side and the Turkish-Cypriot community must be free from threats and blackmail, while adding that the Republic of Cyprus is determined to intensify negotiations. Anastasiades said that the Greek-Cypriot side has “the will and the determination, and if Turkey and our Turkish-Cypriot compatriots respond in a similar manner, then I want to express my optimism that we can reach a solution.” Moreover, as he stressed, the Joint Declaration of February 11, 2014, “gave the opportunity to restart a productive dialogue, which despite the obstacles that occurred, had created the prospects to begin the third and final phase on October 9,” while noting that the developments that followed on October 6 forced the Greek-Cypriot side to suspend its participation in the talks. With the Turkish NAVTEX not renewed and the withdrawal of Barbaros “I am glad to say that the prospects to resume talks are being created,” the Cypriot President explained. It should be noted that in October 2014 Anastasiades suspended his participation in the peace talks following a Navigational Telex (NAVTEX) issued by Turkey for the conduction of hydrocarbons research in Cyprus’ Exclusive Economic Zone (EEZ) by seismic vessel “Barbaros,” escorted by a number of Turkish Navy ships. “We are determined to intensify the dialogue and with good will and determination to proceed with proposals that will take into account the concerns of the Greek-Cypriots and, most importantly, will not ignore the concerns of the Turkish-Cypriots. Our goal is not to find a solution that creates winners and losers,” he concluded. UN Secretary General’s Special Adviser on Cyprus Espen Barth Eide announced on April 7 that the peace talks are expected to resume within the weeks following the “elections” in the island’s occupied areas. The illegal elections took place on April 19 and a run-off will take place this coming Sunday.
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The chances of Greece ending up outside the single European currency due to an accident (Graccident) stand at 30% and if it does then that might make Italian and Spanish debt a good buy, according to the world’s biggest bond fund, Pacific Investment Management Co. (Pimco). Although, the bond fund estimated that Greece will muddle through and keep using the euro as its currency. Still, though, there is a possibility of a debt payment being unintentionally missed by Greece and that would cause a blowout in bond spreads for the region’s other highly indebted nations, such as Spain and Italy, Pimco’s chief investment officer for asset allocation and real return Mihir Worah told reporters in Sydney earlier today. Pimco has reduced its bets on Italy and Spain to guard against that risk. “We want to reduce our risk and have some dry powder to buy assets in Europe because we think a Greek exit will be volatile,” Worah said, adding “but at the end of the day it is not going to impact the global economy. It could be a buying opportunity if you have got the wherewithal and you are not in pain yourself.” Moreover, the Pimco senior official explained that “our base case is that Greece stays in the Eurozone, but it is going to be messy. There is a fat tail being priced by the markets, there is about a 30% chance that there is an accident, something bad happens and Greece leaves Europe.” The Greek government had reached an agreement with its European partners in February, which among others indicated that the two sides would strike a deal on a comprehensive list of reforms in order to disburse the remaining 7.2-billion-euro installment from the 240-billion-euro bailout program by the end of April. Eurozone officials had expected the revised list on Friday, during the Finance Ministers’ meeting, but such hopes appear to be slim.
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Moneymen who shrewdly exploited the on-again-off-again panic regarding Greece's finances have made handsome profits in recent years. In the ...
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EVENTUALLY every long-running drama, from “Downton Abbey” to “Dr Who”, feels formulaic. So it is with Greece's debt saga. For five years it has ...
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In addition, come Friday, the euro zone's finance ministers are likely to throw a tantrum once again when they meet in Riga, as Greece has yet to come ...
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Moneymen who shrewdly exploited the on-again-off-again panic regarding Greece's finances have made handsome profits in recent years. In the ...
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Within two to four weeks, Greece will not be able to pay salaries, pensions and loan obligations to the International Monetary Fund and other lenders.
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Exclusive: Confidential draft from summit reveals that only 5,000 migrants will be allowed to resettle in Europe with large numbers likely to be repatriatedOnly 5,000 resettlement places across Europe are to be offered to refugees under the emergency summit crisis package to be agreed by EU leaders in Brussels on Thursday.A confidential draft summit statement seen by the Guardian indicates that the vast majority of those who survive the journey and make it to Italy – 150,000 did so last year – will be sent back as irregular migrants under a new rapid-return programme co-ordinated by the EU’s border agency, Frontex. More than 36,000 boat survivors have reached Italy, Malta and Greece so far this year. Related: EU borders chief says saving migrants' lives 'shouldn't be priority' for patrols Related: UK cabinet split over EU plans to expand sea search and rescue of migrants Related: 'We see more and more unaccompanied children on migrant boats' | Chiara Montaldo Continue reading...
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Many EU member states and the US still fear the consequences of Greece leaving Europe. They need to get their voices heard in BerlinIn Berlin, views on Greece’s possible exit from the eurozone are shifting. “We have never been closer to a Grexit, and we are close,” said a senior official. The last time a Greek departure looked likely, in 2012, Angela Merkel worried that it would provoke panic in financial markets and pulled back from the brink. This time, Germany’s leaders think a Grexit would not destabilise the eurozone.Merkel’s officials say that she would be willing to compromise with Greece – if prime minister Alexis Tsipras, whose Syriza party was elected in January, came up with a serious reform programme. Germany wants his socialist government to commit to fighting corruption, improving tax collection, strengthening fiscal discipline, modernising labour markets and attacking vested interests. But three months after being elected, Tsipras seems unwilling or unable to do any of these things.German officials are remarkably sanguine about the impact of a Grexit on the rest of the eurozone Related: Greek eurozone exit edges closer as markets brace for Athens default Continue reading...
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Greece has received two international bailouts worth euro 240 bn since 2010 but its economy has shrunk by some 25%
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| READ THE ORIGINAL POST AT www.business-standard.com |
Greek Prime Minister Alexis Tsipras called for a speeding up of the process to conclude a reform-for-cash deal with euro zone creditors after talks with German Chancellor Angela Merkel on Thursday, a Greek official said. The official said ...
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by Kostas Stamou The Greek Public Power Corporation (PCC) cuts supply to a tax office building, in a northern Athenian suburb, handles the Lagarde List. The tax office is housed in a 17 flour building with only one meter and according ...
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The European Central Bank (ECB) believes that Greek banks are solvent but acknowledges that the situation is stressful, the central bank's chief economist Peter Praet said on Thursday when asked about the central bank's emergency liquidity assistance (ELA). "Greek banks ...
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| READ THE ORIGINAL POST AT en.enikos.gr |
There are various narratives for what is happening to Greece as another deadline looms -- the April 24 gathering of finance ministers in Riga -- and European officials show no sign of compromise. The most common is that this is a game of brinkmanship, with the Germans and their allies pushing for "reforms" that the Syriza government in Greece doesn't want to adopt. Most of the media seems more partial to the European officials than to Greece. But even among those who are more neutral or sympathetic to Greece, it is still a story about hardline European officials threatening to use their control over funding to the Greek government and banking system in order to bring Greece to its knees. But this narrative misses the elephant on the middle of the negotiating table. While the Greek government cannot do anything to replace its negotiating partners with people more to their liking, the European officials on the other side seem to believe they can do exactly that. And it is becoming increasingly clear that this is their current strategy. The idea is to do enough damage to the Greek economy during the negotiating process so as to undermine support for the current government, and ultimately replace it. The destabilization actually began before the January 25 election, when officials from the then-ruling New Democracy Party announced that if Syriza won the election, Greece would leave the euro and people would not be able to get money from their bank accounts. In a nasty breach of protocol, they were supported by important European officials. As I have noted previously, the European Central Bank (ECB) not only trained their guns on the new government but started firing on February 4, just nine days after the election. That is when they cut off the main line of credit to the Greek government even though they had weeks to make this decision. This was followed by limits on the amount that Greek banks could lend to the government -- limits that the ECB did not impose on the previous government. This was originally published by Al Jazeera America on April 22, 2015. To view of the rest of the article, click here. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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... by a slight recovery by European markets as sentiment ebbed and flowed on Greek debt default possibilities, with US stocks mixed in early deals.
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| READ THE ORIGINAL POST AT www.thisismoney.co.uk |
Just one day ahead of a crucial meeting of euro zone finance ministers, Greek Prime Minister Alexis Tsipras is due to meet German Chancellor Angela ...
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| READ THE ORIGINAL POST AT www.cnbc.com |
Financial speculators are nervously asking whether Greece will pay its debt or default. Political leaders from Europe to the US and the IMF are telling ...
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| READ THE ORIGINAL POST AT www.socialeurope.eu |
By Suchitra Mohanty NEW DELHI (Thomson Reuters Foundation) - An Indian court on Thursday refused Rajendra Pachauri permission to attend an international water conference after the leading global voice on climate change was accused of sexual harassment by a female colleague. The Indian scientist, who has been granted protection from arrest, had asked the Delhi High Court for permission to travel to Greece to attend the Global Water Summit on April 27-28.
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