ATHENS, Greece — A call by hardliners within Greece's ruling Radical Left Coalition (Syriza) party to not pay the next installment to the International ...
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How the world sees Greece
Sunday, May 24, 2015
Greece's ruling Syriza party narrowly rejects call to stop paying IMF debt, nationalize banks
Greece can't make €1.6B IMF payment, refuses to budge on rescue aid terms
ATHENS, Greece, May 24 (UPI) -- The Greek government is on the verge of defaulting on its financial obligations to the International Monetary Fund, ...
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Greeks Favor SYRIZA, Eurozone Too
Most Greeks favor the tough negotiating line of the Radical Left SYRIZA in talks with international lenders, but want to stay in the Eurozone. The post Greeks Favor SYRIZA, Eurozone Too appeared first on The National Herald.
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Daniel Gros: Greece is different
The IMF seems ready to throw in the towel - not least because of the recent revelation that Greece could post a small primary Budget deficit (which ...
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| READ THE ORIGINAL POST AT www.business-standard.com |
VAT adjustment is the way forward
The Greek government’s hope for a political solution and a staff-level agreement on the program review by the end of May is looking increasingly unlikely. To the extent that a piecemeal approach to an agreement is not accepted by the creditors, negotiations may drag on even longer and a way has to be found to bridge temporary funding gaps in early June and beyond to avoid a default. Tangible results on value-added tax (VAT) reform and a couple of other issues could help provide the ground for lengthier negotiations and some form of temporary funding.
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French immigration thriller bags Cannes Palme d'Or
Cannes (France) (AFP) - A French thriller spotlighting the plight of traumatised refugees building new lives, "Dheepan", captured the Palme d'Or top prize at the Cannes Film Festival on Sunday.As countries around the world grapple with an influx of people fleeing global crises, a jury led by Hollywood filmmakers Joel and Ethan Coen chose the gritty picture about Sri Lankan asylum-seekers by acclaimed French director Jacques Audiard among 19 international contenders. "To receive a prize from the Coen brothers is something pretty exceptional," Audiard said, clutching the trophy."I'm very touched," he said.The harrowing Holocaust drama "Son of Saul" by Hungarian newcomer Laszlo Nemes, offering unflinching depictions of the gas chambers of Auschwitz, claimed the Grand Prize, runner-up for best picture."This continent is still haunted by this subject," Nemes said.And "The Lobster", a surreal, pitch-black comedy about modern love by Greece's Yorgos Lanthimos and starring Colin Farrell and Rachel Weisz, bagged the third-place Jury Prize.Best director honours went to Taiwan's Hou Hsiao-Hsien for the visually lush, slow-burn martial arts film "The Assassin".The nine-member panel handed the best-actress trophy to two winners: US star Rooney Mara for the lesbian love story "Carol" which also stars Cate Blanchett; and France's Emmanuelle Bercot, in the doomed romance "Mon roi" (My King) by fellow actress-turned-filmmaker Maiwenn."I am thrilled to share this with another actress because it's a bit too big for me to carry alone," said Bercot, who had opened the 12-day festival with French social drama "Standing Tall", which she directed and co-wrote.In a strong night for the host country, France's Vincent Lindon won best actor for his moving turn as a job-seeker standing up for his dignity in "The Measure of a Man".Mexican director Michel Franco clinched best screenplay for "Chronic" starring British actor Tim Roth as a nurse caring for dying patients.- Fresh starts -Audiard, a Cannes favourite, specialises in films about broken people looking for fresh starts, as in critical triumphs such as "A Prophet", "Rust and Bone" and "The Beat That My Heart Skipped".In "Dheepan", novelist and former child soldier Antonythasan Jesuthasan plays an ex-Tamil Tiger fighter escaping Sri Lanka's brutal civil war.He and two strangers -- a woman and a nine-year-old girl -- pretend to be a family to make it to France on fake passports.Once they arrive in a rough housing estate on the outskirts of Paris, the makeshift family begins to bond and Dheepan must use his battlefield experience to keep the three of them safe from drug gangs waging a turf war.Antonythasan himself fought for the Tamil Tigers from the age of 16 before making it in 1993 on a fake passport to France, where he was granted political asylum.Audiard, who spoke to his actors through an interpreter on set, told reporters during the festival that he "couldn't have placed Sri Lanka on a map" when he started working on the screenplay.He had rather sought "to approach a love story from a completely different angle" and offer a portrait of his country from the perspective of outsiders looking in.- Booing makes a comeback -This year's selection divided reviewers, with a few stand-out pictures mitigated by a clutch of flops. Booing made a big comeback as hot-blooded critics made their feelings about the duds known to the world's press.Matthew McConaughey's mystical new movie "The Sea of Trees" directed by Gus Van Sant was loudly jeered as trite and syrupy. A French "fairytale" about brother-sister love "Marguerite and Julien" was also booed. And the hottest ticket at the glamorous 12-day event on the French Riviera, the ultra-graphic 3D sex film "Love", left viewers cold. Cannes would not be Cannes without a dose of offscreen controversy and this year it came in the form of a high-heeled shoe.Complaints by some female cinema-goers that they were turned away from gala premieres for wearing flat footwear drew charges of sexism and a "stiletto-gate" storm of protest on social media.Festival director Thierry Fremaux later apologised for "overzealousness" on the part of some security personnel in enforcing the strict Cannes dress code.The row undermined efforts at Cannes to redress a much-criticised neglect of female filmmakers in its official selection. Two of the 19 movies in competition for the Palme d'Or were made by women.Last year the top prize went to an epic drama about Turkey's internal tensions, "Winter Sleep" by Nuri Bilge Ceylan.Join the conversation about this story »
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Varoufakis slams media over Riga Eurogroup reporting
Greek Finance Minister Yanis Varoufakis on Sunday admitted he had recorded a euro zone finance ministers meeting and criticised media for reporting «lies and innuendos» on what transpired at that April 24 Eurogroup gathering.
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Banks fear NPL sum will reach 100 bln euros
Greek banks are facing the specter of nonperforming loans climbing to 100 billion euros – or 45 percent of all loans issued – in the coming months owing to the seemingly endless uncertainty in the local economy.
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Nothing Greek and Latin here
English language comprises many words of French origin, such as art, competition, force, machine, money, police, publicity, role, routine, table, and ...
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Greek Interior Minister: No Money for June IMF Repayment
All information reproduced on the Web pages of www.tolerance.ca (including articles, images, photographs, and logos) is protected by intellectual ...
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Foreign Travel Agencies Add Greek Default Clause in Contracts
Fears that Greece’s negotiation with its creditors will not be fruitful have impacted the country’s political and economic sector, but also tourism. Foreign travel agencies have already demanded Greek hoteliers to sign a Greek default clause. Specifically, organizers of international conferences have decided to introduce a bankruptcy clause in their contracts with Greek hoteliers, imposing a non-payment of compensation in case Greece declares bankruptcy and they decide to cancel the organized events, noted the Greek newspaper Kathimerini. This clause is reminiscent of insurance terms which do not cover exceptional occurrences such as natural disasters or terrorist attacks. According to the newspaper, already one conference organizer who was supposed to hold an international event in Greece in June, has imposed a default clause to the hotel that will host the event. Meanwhile, Greek hoteliers will be called to sign next season’s contracts in a few weeks. Most of them are wondering what fiscal changes the Greek government will implement and to what extent they can impose price increases to the foreign travel agencies as a result of the VAT changes. Furthermore, they are concerned about keeping the prices relatively low in order to be competitive with other Mediterranean countries such as Spain or Turkey.
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Greece May Go Bankrupt Within a Matter of Weeks
Greece is experiencing a major financial crisis and it is one that is more serious than anything the country has faced in recent years. Greece’s Prime Minister stated earlier in the week that the country is in a state of financial ruin and people are ...
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SYRIZA’s Left Platform: Creditors are Engaging in ‘Open Blackmail’
Addressing SYRIZA‘s Central Committee meeting on Sunday, Productive Reconstruction Minister Panagiotis Lafazanis accused Greece’s creditors of “the harshest, open blackmail” in their handling of the negotiations with the Greek government. The head of SYRIZA’s Left Platform strongly criticized the European officials saying that the “smiles conceal the reality.” He called for an agreement that was in line with SYRIZA’s programme, saying the voters had asked for the abolition of the memorandums and that the creditors’ goal was a breakdown in the talks and to “exterminate the government and the country.” In this case, Lafazanis added, the government needed an alternative plan and to counterattack. He also expressed opposition to privatizations on ideological grounds and because “they would not help to reduce fiscal deficits.” Lafazanis concluded that the Greek government needed a plan in case it was unable to pay its creditors and to start preparing the people about what may happen next. (source: ana-mpa)
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Greece and Brussels Group to Resume Negotiations on Tuesday
Talks between the Greek government and the Brussels Group – the three institutions representing Greece’s creditors – are to continue next Tuesday, it was announced. The technical talks were concluded in Brussels on Saturday night and will continue after Tuesday when officials from Greece ‘s public administration are scheduled to return to Belgium from Athens. According to Greek media, the range of outstanding issues in the talks has been significantly reduced and the possibility of an agreement on a technical level by the end of next week is “visible”. The same sources noted, however, that there continue to be differences on issues relating to Greece’s pension system, tax system and fiscal sectors. (source: ana-mpa)
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Greek Interior Minister: Greece Has No Money to Make IMF Payment
The Greek government will not be able to meet a payment to the International Monetary Fund (IMF) in June, Greek Interior Minister Nikos Voutsis told ‘Mega TV’ on Sunday. “The four installments for the IMF in June amount 1.6 billion euros ($1.8 billion), this money will not be given and is not there to be given,” Nikos Voutsis told. According to the minister, “this is known and we are discussing on the basis of restrained optimism that there will be a strong agreement.” He stressed that the government would not cave in to the strategy of “suffocation” adopted by the creditors, while adding that a credit event was not in the government’s plans and expressing the opinion that the time was “ripe” for a “reasonable agreement”. According to Voutsis, there were serious disagreements in the negotiations on a number of issues and these issues had to be resolved. He pointed out that reasoning had to prevail in order to proceed with a programme for the country. “In other words, so that an agreement exists that gives the country breathing room, is economically sustainable and politically gives inspiration and opens up a prospect,” he said. (source: ana-mpa)
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ND Leader Slams Greek Government ‘Inadequacy’
Main opposition New Democracy (ND) leader Antonis Samaras on Sunday slammed the Greek government for “inadequacy,” in statements after arriving at ‘Nikos Kazantzakis’ airport in Iraklio, Crete. Samaras is visiting the city in order to attend an ND party meeting. Samaras stressed that he was on the island to discuss issues important to Crete and expressed hope that projects launched under his government would not stall due to the present government’s “inadequacy, which is visible wherever one turns”. Regarding the ongoing negotiations with Greece ‘s creditors, Samaras said no one could know how they will turn out until a specific text is produced, adding that ND’s hopes were for a good agreement quickly, so that the country does not lose the growth momentum that was beginning to emerge. “Unfortunately, this is the big problem. We are seeing the tendency to growth becoming converted to a trend toward recession. This is all that is worst. Especially in areas such as Crete, where the potential for growth is more than visible,” he added. (source: ana-mpa)
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Greece Owes 4.4 Bln Euros to Suppliers
Greece’s economy seems to have reached its lowest point, as the Greek government is unable to pay 4.4 billion euros to its suppliers. Meanwhile, the Greek insurance funds are facing the same problem with administration striving to find more resources. Over the next few days Greece needs to gather a total of 2.3 billion euros in order to pay pensions on May 29 and June 2. It has not yet been determined whether the country’s Finance Ministry will be able to find the 900 million euros that need to be provided to the Labor Ministry. The rest will come from loans, adjusting debts and insured citizens’ contributions. According to data from the state’s General Accounting Office, the state is struggling because of the significant revenue reduction. In fact, during the first quarter of 2015 the funds showed a primary deficit totaling 349 million euros, (the primary surplus in the same period of 2014 amounted to 798 million euros). At the same time there is swelling of overdue government obligations that exceed 4.4 billion euros, due to Greece’s internal payment suspension. The government debts, however, are much higher, because the figures do not include the state debts of the last 90 days, during which the economic situation worsened. The obligations to third parties that remain unpaid after 90 days from the due date are considered overdue.
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Greece Again Says It Can’t Make IMF Payment
unning out of cash, locked out of markets and stuck in stalled talks with international lenders, Greece's Radical Left SYRIZA-led government can't meet a critical June 5 payment and faces default without aid or a deal. The post Greece Again Says It Can’t Make IMF Payment appeared first on The National Herald.
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World Press View: Broke Greece Facing The Full Catastrophe
Zorba couldn't have said it better: unable to meet critical loan payments in June without more aid, Greece is looking at the full catastrophe, world press reports say. The post World Press View: Broke Greece Facing The Full Catastrophe appeared first on The National Herald.
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Greece warns it is set to default on debt repayment loans
Greek Interior Minister Nikos Voutsis at a Syrizia party central committee meeting in Athens, to discuss the euro debt repayments. Photograph: Pantelis ...
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Default alone will not bring any deliverance for Greece
Here we are on another bank holiday weekend in the midst of yet another Greek crisis – or rather the same Greek crisis reheated. Regular readers and hedge fund managers may appreciate knowing that I am away this weekend, as I usually am away when major ...
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Greek Minister Believes Athens Will Not Make Debt Repayments
Nikos Voutsis the Interior Minister made the most pointed remarks to date, that if the talks fail with the creditors, Greece will default as well next month.
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Greek has no money to repay IMF amid June payment
Greek Interior Minister Nikos Voutsis issued a fresh warning on Sunday that Greece would not repay loan installments to the International Monetary ...
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Varoufakis pays tribute to John Nash
Greek Finance Minister Yanis Varoufakis paid tribute to US mathematician John Nash who was killed in a car accident in New Jersey. Varoufakis wrote on twitter that meeting and spending time with Nash was for him "an unearned bonus".
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Red Cross assisting two after Greece fire
The Greater Rochester Chapter of the Red Cross was called Saturday to assist two people after a fire on North Greece Road in Greece. The fire was ...
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Greece to skip IMF repayment: minister
Greece will not make a debt repayment to the IMF due next month, as it does not have the money, Minister of the Interior and Administrative ...
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Greek ministers warn against June IMF payment, ponder on Grexit
ATHENS, May 24 (Xinhua) -- Greek Interior Minister Nikos Voutsis issued a fresh warning on Sunday that Greece would not repay loan installments to ...
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Libyan air force bombs Greek oil tanker off coast
TRIPOLI, May 24 (Xinhua) -- Libyan air force on Sunday bombed a Greek oil tanker off the Libyan coast, injuring some of its crew members and ...
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Greece Won't Meet IMF Repayments in June, Minister Says
Greece said it won’t have the money it is due to repay to the IMF next month unless it strikes a deal with international creditors over further rescue funding.
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Greece threatens to default on IMF payment
Nikos Voutsis says the government cannot raise enough money to pay pensions and its creditors
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The fate of Greece lies in Tsipras’ hands
If the deal offered by the country’s creditors is reasonable, the prime minister should accept
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Syriza radical Left Platform rules out an agreement with 'descent' concessions
By Maritina Zafiriadou The radical 'Left Platform' (Aristeri Platforma) of Syriza party calls on the Greek Prime Minister Alexis Tsipras not to pay the installment to the International Monetary Fund (IMF) and to look for alternative policies. In a text ...
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Patras University Student Develops Eye-Typing Technology App
The University of Patras in Greece has once again been put under the spotlight, thanks to Evangelos Skodras’ double distinction for the development of EyeType. Skodras is a PhD student at the Wire Communications Laboratory of the Department of Electrical and Computer Engineering at the University of Patras. Skodras developed an Android app called EyeType that gives the user the possibility to control what is typed on the device’s keyboard with his eyes, by recording the person’s eye movement. This is a real innovation in the field that will enable people suffering from ALS (Amyotrophic Lateral Sclerosis), LIS syndrome (Locked-In Syndrome) or quadriplegia – who are only able to move their eyes – to communicate by using a smartphone or tablet. The PhD student has received two international awards in 2015 for the app, from the Institute of Electrical and Electronics Engineers (IEEE) and the European Association of Students of Electrical Engineering (EESTEC). At the EESTEC competition, EyeType took home the innovation award. The category included a total of 51 Android apps submitted by 717 researchers from 54 countries.
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Greece warns it has 'no money' to make IMF debt repayments
Greece says it cannot make debt repayments to the IMF due next month without more aid from its foreign lenders. Athens defaulting on its debt could ...
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Greece in trouble: Greece will miss the IMF payments this June
International Monetary Fund (IMF) has said that Egypt is not able to repay the credit amount next month. Greece will be able to pay the amount if their ...
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Greece Government 'Won't Meet IMF Repayment'
Greece's government will not be able to repay the International Monetary Fund next month, one of its ministers has claimed. "The instalment to the IMF won't be paid," Interior Minister Nikos Voutsis told Greece’s Mega TV. Mr Voutsis added however that there was "cautious optimism that there will be a strong agreement" with its creditors.
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Bonnie Sveen and Nic Westaway don traditional Greek garb as they dance up a storm at Paniyiri ...
And on Sunday Nic Westaway and Bonnie Sveen were working together again - but this time they were far from Summer Bay. The duo enjoyed a ...
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Greek, Turkish leaders inch toward unity on Cyprus
NICOSIA, Cyprus — Rival Greek and Turkish Cypriot leaders took a stroll together on both sides of the divided capital's medieval center on Saturday to ...
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New Sheboygan gyro spot offers 'Greece e' tribute
While this history is displayed on the wall of the Greece e Spoon, the Greek ... "There's a lot of creative minds to rework these classic greek dishes.".
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Greece Warns That It Will Probably Miss Next Month's Debt Payment
Greece is warning that unless it can reach a deal with its creditors, it will be unable to make a debt payment to the International Monetary Fund next ...
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German Finance Minister Sees No Need to Discuss 'Alternatives' on Greece
BERLIN--German Finance Minister Wolfgang Schaeuble sees no need to discuss "alternatives" or disbursing further aid to Athens, since "Greece has ...
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Greece to miss June debt repayments to International Monetary Fund, interior minister says
Greece will be unable to make its debt repayments to the International Monetary Fund (IMF) next month unless it can reach a deal with creditors, ...
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Greece: We Can't Make Next Payment
Without a deal with creditors, Greece will not be able to may next month's debt repayment to the IMF, the country's Interior Minister Nokos Voutsis said ...
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Spain votes as new forces seek 'historic' change
Madrid (AFP) - Spaniards voted Sunday in elections that could see the anti-austerity protest movement conquer city halls and transform Spanish politics.New left-wing and centrist movements are fighting to end the two-party system of the past four decades and drive out the ruling conservative Popular Party (PP).Surging in popularity after the wave of anti-austerity protests that erupted in 2011, they vow to fight corruption and heal a country stricken by unemployment and spending cuts."This is the first time we have felt hopeful when coming out to vote," said Eva Quintas, 32, after casting her ballot in central Madrid for left-wing protest party Podemos and the local group it is backing, Ahora Madrid.Another voter, Fernando Martin, 50, said he eventually made up his mind to vote for the PP."These elections are important. I think there are going to be big changes," he said. "People feel let down by politicians of all parties."Podemos wants to drive the PP out of power and challenge the mainstream left as the force of opposition in the eurozone's fourth-biggest economy, as the Syriza party has done in Greece.The economically liberal Ciudadanos party meanwhile is luring voters from right and left, promising more moderate, market-friendly reforms.In the city hall elections, numerous grassroots groups opposed to the government's austerity measures are running with Podemos's backing.They are polling strongly in the two biggest cities, Madrid and Barcelona.Leading centre-left newspaper El Pais called it a choice between "the old and the new politics". Conservative daily ABC pointed out the high level of undecided voters -- some 30 percent according to polls. - 'Historic' vote -Polls opened across mainland Spain at 9:00 am (0700 GMT), and will close at 1800 GMT.Voters were being asked to choose leaders in more than 8,000 city halls and 13 of the 17 regional governments which control health and education budgets. More than 35 million people were registered to vote.Podemos and Ciudadanos have surged over the past year to occupy third and fourth place in the polls behind the Popular Party and the mainstream opposition Socialists.Those two parties have taken turns running Spain for more than 30 years."There is no doubt that a majority of Spaniards want change. What they want now are governments that make pacts and engage in dialogue," said Jose Pablo Ferrandiz from major pollster Metroscopia."That is truly something new in Spain. We are not used to coalition governments."The polls also indicated a marked rise in turnout was likely, driven by young voters."This is a historic campaign for political change in Spain, just like during the transition" from dictatorship in the 1970s, Ciudadanos leader Albert Rivera said.Polls have consistently shown the PP losing support overall."In 2011 we demonstrated on the town squares. In 2015 we will throw them out of power," Podemos leader Pablo Iglesias said. - General election warm-up - Spain's economic growth is gradually improving, but the unemployment rate was at more than 23 percent at the last count and anti-austerity campaigners say the recovery is not reaching the poorest.Sunday's vote is an important warm-up for Prime Minister Mariano Rajoy as he fights to stay in office in the general election due around November.He warns that ejecting the PP from office could disrupt Spain's economic recovery."This is not a time to experiment," he said. "You cannot experiment with the interests of the Spanish people."Analysts say a Podemos surge could undermine foreign investors' confidence in Spain's financial stability, like Syriza's rise to power in Greece.But Ciudadanos has offered them a more market-friendly alternative and could act as an "important power broker" to keep Spain's economic reforms on track, said analyst Christian Schulz of German bank Berenberg.Join the conversation about this story »
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Greece's Varoufakis admits to taping Eurogroup meeting
By George Georgiopoulos ATHENS (Reuters) - Greek Finance Minister Yanis Varoufakis on Sunday admitted he had recorded a euro zone finance ministers meeting and criticised media for reporting "lies and innuendos" on what transpired at that April 24 Eurogroup gathering. The outspoken minister told the New York Times Magazine last week he had taped the confidential meeting in Riga, drawing criticism that he was undermining Greece's efforts to secure aid from lenders. "In the absence of minutes, I often record my interventions and responses on my mobile phone, especially when I ad lib them," Varoufakis said in his blog and to Britain's BBC, adding that he used the recordings to help prepare briefings for the Greek cabinet.
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Fascinating Cambridge University Research Links Endangered Pontic Greek Dialect to Ancient ...
Until Medieval times, the area of Trabzon, on the Black Sea coast of Turkey, lay at the heart of the Greek-speaking world. The land of the legendary ...
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Carrots, Not Sticks For Workers
Greece's new coalition government plans to improve notoriously poor bureaucratic service by offering rewards instead of punishing slackers. The post Carrots, Not Sticks For Workers appeared first on The National Herald.
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Greek Labour Min: 'Focus on the perspective an agreement gives to the country'
Greek Labour Minister Panos Skourletis, speaking at Syriza central committee meeting in Athens on Saturday, said that we should not judge the agreement itself, but instead we should focus on the perspective that the agreement gives to our ...
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First Greek Beer and Brewing Museum Opens in Athens
ATHINEO, the first Creative Brewery and Beer Museum in Greece, opened its doors to the public recently and aims to become a reference point for beer history and tradition in the country. It is located in the exact place where the Athenian Brewery opened its first plant fifty years ago. Through the museum exhibition and a training center, ATHINEO will host interactive workshops, while the micro-brewery will also test innovative recipes for unpasteurized beer that will be released to the market four times a year at selected distribution places. The exhibition mainly includes objects found at three Athenian Brewery plants, which were identified and archived by Greek historian and curator Iris Kritikou. ATHINEO will feature a permanent exhibition of original ceramic beer cups, following its history through the centuries. Kritikou referred to beer’s long course through the centuries in her official exhibition announcement. From Mesopotamia and Noah’s supplies for the Ark to the Sumerians and the Epic of Gilgamesh, from the Babylonians and the Egyptians to the Greeks, beer has always been part of history. In ancient Greece, Sophocles urged for temperance and recommended a diet of bread, meat, vegetables and beer. Beer lovers can find out more about ATHINEO on Facebook. The Museum will be open every Saturday this June, from 1 pm to 8 pm, and admission will be free. It will then resume its operation in September 2015.
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Greece issues fresh warning on IMF payment in June
Greece faces four debt repayments to the IMF from June 5. Athens would struggle to meet all of them without using bailout funds due to it that are ...
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