How the world sees Greece
The proposals were received by Eurogroup chair Jeroen Dijsselbloem, his spokesman confirmed around two hours before a midnight deadline. Michel Reijns wrote on Twitter: "New Greek proposals received by Eurogroup President Dijsselbloem. The heads of all 28 EU member states will discuss the proposals at a "decisive" summit on Sunday.
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Greece submitted new bailout reform plans to an impatient eurozone on Thursday in a last-ditch effort to save the country's collapsing economy and its fragile place in the single currency.
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Proposals from Greece to explain how it will meet conditions for a new international bailout loan were received on Thursday by Jeroen Dijsselbloem, who chairs the Eurogroup of euro zone finance ministers, his spokesman said. "New Greek proposals received by Eurogroup President Dijsselbloem," he tweeted. "Important for institutions to consider these in their assessment." He later added that Dijsselbloem would offer no comment on the content of the proposals until an assessment of whether they formed a basis for negotiating a loan had been completed by the institutions responsible for the review.
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Christine Lagarde, head of the International Monetary Fund, which is based in Washington, said that getting out of the Greek crisis would take both ...
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ATHENS, Greece (AP) — Greece offers sweeping sales tax hikes, pension cuts in new proposals to creditors .
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BRUSSELS (AP) — European Union ministers failed Thursday to agree on relocating 40,000 of the refugees making risky boat trips from North Africa to Italy and Greece and will try again later this month to broker a deal on how many people each country will accept.
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Last-minute bookings at Greek resorts and hotels have plunged by nearly a third with the country on the brink of financial collapse. Greece’s tourism confederation has seen a 30 per cent drop in late bookings, which typically account for one-fifth of ...
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ATHENS, Greece (AP) -- The latest from the Greece's financial crisis (all times local): 4:20 p.m. Olivier Blanchard, director of research at the International Monetary Fund, says Greece's troubles pose little threat to the broader global economy.
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ATHENS, Greece (AP) — Greece seeking 53.5 billion euros in new bailout package.
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At least 35 airlines have said that they do not accept Greek credit cards anymore. Hence, Greeks will either have to pay in cash (which isn't even a ...
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Panayotis Lafazanis, the firebrand leftist energy minister, presented preliminary plans for the project to Greek energy executives in Athens on ...
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Greek lenders face bankruptcy on Monday if the country fails to strike a deal with creditors over the weekend, according to senior bank executives, ...
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European markets are still playing it cool. There is no panic, even as a day of destiny looms for Greece and Europe; stocks and southern eurozone government bonds rose sharply Thursday. But whatever the outcome, European political risk is rising.
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On the brink of a meltdown, the Greek economy is already seizing up in many places amid capital controls and the growing fear that the country may ...
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“You need restrictive fiscal and monetary policy, which is something the Greek government does not want to do,” said Adalbert Winkler, a professor at ...
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Any such deal would give Greek premier Alexis Tspiras a prize to take back to the Greek people after they voted by 61pc to 39pc to reject austerity ...
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If Athens is forced out of the single currency zone, some experts predict hyperinflation and riots, while others see surges in exports and tourists.
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His eurozone counterparts were livid after the left-wing Greek government called and won an austerity referendum that rejected their proposals for a ...
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After grim predictions of collapse in Greece, a scramble was underway to work out the details of a new plan to bring the country back from the brink.
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As the Greek debt crisis unfolds, Argentines are watching with a weary sense of déjà vu. Many fear that history may be repeating itself — except they ...
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The landslide "No" vote of the Greek people to reject further austerity marks a turning point in a battle over the future of Europe that has been going on ...
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As Greek government sends through reform proposals, creditors open to easing debt terms
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ATHENS, Greece (AP) — Greece finally met a deadline that counted on Thursday, delivering a series of sweeping proposals to its creditors before midnight to set off a mad rush toward a weekend deal to stave off a financial collapse of the nation.
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Greece seeking 53.5 billion euros in new bailout package
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In 2010, we saw the first Greek bailout; in 2011 and 2013 the Greek parliament approved austerity budgets; in 2013 Greek unemployment peaked at ...
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EU ministers fail to reach agreement on relocating 40,000 refugees who landed in Greece, Italy
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ATHENS, Greece (AP) -- Greece finally met a deadline that counted on Thursday and made a series of sweeping proposals that its creditors needed by midnight to set off a mad rush toward a weekend deal to stave off a financial collapse of the nation. The package met longstanding demands by creditors to impose wide-ranging sales-tax hikes and cuts in state spending for pensions that the left-leaning Greek government had long resisted. It raised hopes that Greece can get the rescue deal that will prevent a catastrophic exit from the euro after key creditors said they were open to discussing how to ease the country's debt load, a long-time sticking point in their talks. In the text of proposals sent by Athens late Thursday, the government conceded to demands it had previously refused to accept - mostly on moving various categories of goods and services to higher sales tax rates - in exchange for a new 53.5 billion-euro ($59 billion) bailout package. The government said the proposals would be voted on by Greece's parliament late Friday before an emergency summit Sunday of all 28 European Union leaders. After months of foot-dragging despite impending chaos, Greek Prime Minister Alexis Tsipras met a midnight deadline with more than an hour to spare. The spokesman for eurogroup President Jeroen Dijsselbloem tweeted that it was "important for institutions to consider these (proposals) in their assessment" of the Greek situation. Finance officials from the European institutions and the International Monetary Fund were to fine-comb through the proposals on Friday before the 19 eurozone finance ministers assess them on Saturday.In ideal circumstances, a summit of the full European Union would be able to approve them on Sunday. Earlier Thursday, Donald Tusk of Poland, who chairs the EU summits, indicated that European officials would make an effort to address Greece's key request for debt relief. "The realistic proposal from Greece will have to be matched by an equally realistic proposal on debt sustainability from the creditors. Only then will we have a win-win situation," Tusk said. Pro-European Union protesters gather in front of the Greek parliament in Athens on July 9, 2015. (LOUISA GOULIAMAKI/AFP/Getty Images) Greece has long argued its debt is too high to be paid back and that the country requires some form of debt relief. The International Monetary Fund agrees with the premise, but key European states like Germany have resisted the idea. On Thursday, German Finance Minister Wolfgang Schaeuble said the possibility of some kind of debt relief would be discussed over coming days, though he cautioned it may not provide much help. "The room for maneuver through debt reprofiling or restructuring is very small," he said. Making Greece's debt more sustainable would likely involve lowering the interest rates and extending the repayment dates on its bailout loans. Germany and many other European countries rule out an outright debt cut, arguing it would be illegal under European treaties. Tsipras met with finance ministry officials and his cabinet throughout the day Thursday to finalize his country's plan, a day after his government requested a new three-year aid program from Europe's bailout fund and promised to immediately enact reforms, including to taxes and pensions, in return. The last-minute maneuvers come as Greece's financial system teeters on the brink of collapse. It has imposed restrictions on banking transactions since June 29, limiting cash withdrawals to 60 euros ($67) per day to stanch a bank run. Banks and the stock market have been shut for just as long. The closures, which have been extended through Monday, have led to daily lines at ATM machines and have hammered businesses. Payments abroad have been banned without special permission. "Can you see anybody in the shop? Nobody's coming in, because everyone's living off a drip," said Magda Petridi, a fortune teller who runs a shop selling good luck charms, aromatic oils and trinkets. "Until a month ago business was going pretty well." A pensioner solves a crossword puzzle as he waits to enter a bank in Athens, July 9, 2015. (AP Photo/Thanassis Stavrakis) Pensioners without bank cards have been particularly hard hit as they have struggled to access their accounts. Some branches have been opened so the elderly and unemployed without bank cards can withdraw a maximum weekly sum of 120 euros each. Hundreds lined up outside banks Thursday morning, many facing hours-long waits in the heat. Meanwhile, many ATMs had a shortage of 20 euro notes, effectively reducing the daily withdrawal limit to 50 euros. If Tsipras does not get a deal, Greece faces an almost inevitable collapse of the banking system, which would be the first step for the country to fall out of the euro. "I believe he will have to get an agreement. We will pay dearly for it, but at least we'll get an agreement," said mechanic Pantelis Niarchos, walking down the street in central Athens. After months of fruitless negotiations with Tsipras' government, elected in January on promises to repeal bailout austerity, the skeptical eurozone creditor states had insisted they wanted to see a detailed, cost-accounted plan of reforms. Greece's financial institutions have been kept afloat so far by emergency liquidity assistance from the European Central Bank. But the ECB has not increased the amount in days, leaving the lenders in a stranglehold despite capital controls. German ECB governing council member Jens Weidmann argued Greek banks should not get more emergency credit from the central bank unless a bailout deal is struck. He said it was up to eurozone governments and Greek leaders themselves to rescue Greece. The central bank "has no mandate to safeguard the solvency of banks and governments," he said in a speech. The ECB capped emergency credit to Greek banks amid doubt whether the country will win further rescue loans from other countries. The banks closed and limited ATM withdrawals because they had no other way to replace deposits. Weidmann said he welcomed the fact that central bank credit "is no longer being used to finance capital flight caused by the Greek government." -- 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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"Officials in France and in Brussels said on Monday that they were unhappy and dumbfounded with the no vote, but let it be known that they would hold the door open to the possibility of a compromise between Greece and its creditors." Dumbfounded? Why? Because the godlike power of the creditors was insulted? Mainstream coverage of economic matters -- the above quote is from the New York Times -- seldom cuts very deep into the world of money, seldom questions who's in charge, and seldom dares to suggest that an economic system ought to serve humankind rather than vice versa. The austerity packages Greece has endured as its condition of economic bailout over the past half-decade -- dictated by those who wielded financial power and were determined to profit enormously off the suffering of Europe's economic losers -- have not only further gutted the country's broken economy and prevented any sort of recovery toward self-sufficiency, but have shattered the socioeconomic structure of life for a huge segment of the Greek population. All of which is... you know, too damn bad. Money is as money does. The creditors have no choice but to impose severe restrictions on Greek social spending. As Robert Kuttner wrote recently at Huffington Post, Greece's economic comeback, including needed governmental reforms such as more effective tax collection, "would be so much easier and more effective in the context of a recovery program as opposed to a debtors' prison." Much of what I read about the situation reminds me of the way the mainstream media cover war: as both necessary and, in human terms, utterly abstract, with its consequences the stuff of separate, lesser stories, which have no bearing on the war's national value and ongoing necessity. The collateral damage of Greece's austerity includes: • An unemployment rate of more than 25 percent, and nearly double that for young people. "Meanwhile, our future flees. A quarter million university graduates have abandoned our nation. They have no choice: unemployment for those under 25 has hit 48.6 percent," Michael Nevradakis and Greg Palast write at OpEd News. • Pensions slashed multiple times, "two-thirds of pensioners live below the poverty line," according to Nevradakis and Palast. • Devastating cuts in healthcare, leaving nearly a million people without any, the U.K. Independent reported last year. The article quoted Dr. David Stuckler of Oxford University, lead author of a report on the crisis in the medical journal The Lancet: "The cost of austerity is being borne mainly by ordinary Greek citizens, who have been affected by the largest cutbacks to the health sector seen across Europe in modern times." The consequences of this have been particularly devastating to the most vulnerable, with infant mortality rising by 43 percent between 2008 and 2010, and stillbirths up 21 percent, according to the article. • "And, for the first time since World War II, widespread starvation had returned," Nevradakis and Palast write. "500,000 children in Greece are said to be malnourished. Students fainting from hunger in frigid schools which cannot afford heating oil is now a common phenomenon." Debtors' prison, indeed. "Imagine," Kuttner writes, "if the Europeans came bearing genuine technical assistance, investment capital and debt restructuring as opposed to more austerity demands." Imagine an economic system focused on serving human, and planetary, needs. Yet in the current dying howl of capitalism, human needs are reduced to frivolous luxuries. Where's the profit in good schools and healthy children? As the profiteers impose austerity on the vulnerable, indebtedness becomes a condition to be mocked. Yet we are all indebted. Our lives depend on the good will of others. In the wake of World War II, for instance, Germany was forgiven most of its Nazi-era debt. "In the 1950s, Europe was founded on the forgiveness of past debts," Thomas Piketty and other economists point out in an open letter to German Chancellor Angela Merkel, published in The Nation. This forgiveness allowed it to make "a massive contribution to post-war economic growth and peace. Today we need to restructure and reduce Greek debt, give the economy breathing room to recover . . ." And Kuttner asks us to "consider the many hundreds of billions of dollars of official aid that went to the big banks that caused the financial collapse of 2007-2008. Their sins, and the resulting damage to the global economy, were far worse than those of Greece. Yet they were showered with official aid. That double standard is also staggering." A bogus moral authority seems to accompany the accumulation of wealth -- a sense that one deserves it, while those without wealth deserve servitude and hopelessness. Beyond this moral authority lies the desperate need not to recognize the common humanity of those who are struggling to survive. Robert Koehler is an award-winning, Chicago-based journalist and nationally syndicated writer. His book, Courage Grows Strong at the Wound (Xenos Press), is still available. Contact him at koehlercw@gmail.com or visit his website at commonwonders.com. © 2015 TRIBUNE CONTENT AGENCY, INC. -- 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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ATHENS, Greece (AP) — The latest from the Greece's financial crisis (all times local):
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Dominique Strauss-Kahn, the disgraced former managing director of the International Monetary Fund and onetime French presidential hopeful, has a progressive plan for the Greek debt crisis that includes significant debt relief -- a concept the country's creditors appear increasingly willing to accept. The plan, which Strauss-Kahn released on Twitter, would allow Greece to postpone all debt repayments for two years but withhold additional financing for the cash-strapped nation. This would allow Greece more flexibility to recover by keeping cash flowing into its economy, but also keep pressure on its government to continue tightening its budget, Strauss-Kahn argued. After two years, if Greece completes the fiscal reforms, it would become eligible for more debt relief, including a significant write-down. “Insisting on a frontloaded fiscal adjustment in the current economic environment is both economically and politically irresponsible,” Strauss-Kahn said in the plan, released June 27. “Providing more assistance to simply repay existing official creditors is simply inane.” Greece : On learning from one's mistakes http://t.co/LU3p3RcPal #Greece #EU— DSK (@dstrausskahn) June 27, 2015 In addition, unlike Greece's creditors, Strauss-Kahn wants to give Greece latitude to balance its budget as it wishes. He even singled out "collecting taxes and confronting the oligarchy" as potential areas of progress. The IMF and eurozone creditors have thus far vetoed major tax increases on the rich, insisting on major pension cuts and value-added tax increases instead. Strauss-Kahn’s plan may yet resemble the final deal between Greece and its creditors. Proposals for debt relief are gaining momentum after the country rejected a bailout-for-austerity proposal in a nationwide referendum July 5. The Greek government submitted a new bailout proposal to creditors Thursday night. While its details are unknown, previously resistant senior eurozone officials signaled that a deal would likely include debt restructuring. German finance minister Wolfgang Schaeuble, widely considered one of Greece’s most hardline critics, conceded Thursday that Greece needs debt relief, while nonetheless claiming that European Union rules preclude it. The IMF pushed for debt relief for Greece in a June 26 report, a position that its managing director, Christine Lagarde, reiterated Wednesday in a speech in Washington, D.C. But Strauss-Kahn's plan for Greece went further, faulting the IMF’s approach to the European crisis under his leadership. The IMF “did make some mistakes and I am ready to take my share of responsibility for them,” he wrote. Specifically, the IMF “misdiagnosed the Greek problem” as a budget imbalance, rather than the consequence of the lack of a fiscal and banking union within the eurozone, he explained. Instead, Strauss-Kahn argued, the IMF should have directed its recommendations for reform at all eurozone countries, not just Greece, and “leaned against” eurozone leaders’ tight fiscal and monetary policies since the economic downturn. Strauss-Kahn’s views reflect the consensus among a broad array of economists that interest rate increases by the European Central Bank and European leaders’ insistence on immediate spending cuts and tax increases have both devastated the Greek economy and stalled the European recovery more broadly. Still, Strauss-Kahn stopped short of disowning the entire loans-for-austerity regime implemented by the eurozone and the IMF, crediting the fiscal contraction demanded by Greece’s creditors with bringing the country's budget close to a surplus. While some experts credit Strauss-Kahn with moving the IMF’s research department away from neoliberal orthodoxy and more toward the economic mainstream during his 2007-2011 tenure, these reforms failed to reach the IMF’s lending arm, they argue. It is not clear how seriously Strauss-Kahn’s most recent recommendations have been taken in policymaking circles since he stepped down amid a string of sexual scandals. He was acquitted of aggravated pimping charges on June 12. Strauss-Kahn admitted to participating in sex parties, but said he was not involved in organizing the parties nor aware that there were prostitutes present. The pimping trial came on the heels of explosive rape charges in 2011, from which Strauss-Kahn's career has never truly recovered, despite his acquittal. In May of that year, after being arrested and accused of raping a hotel maid, he resigned his post at the IMF. After the incident, other women came forward describing harassment and abuse by Strauss-Kahn. The scandal dashed hopes that Strauss-Kahn -- commonly known in France by his initials, DSK -- would run as the socialist party candidate in the 2012 presidential elections. Polls at the time showed him as a likely winner in the race to unseat then-president Nicolas Sarkozy. Just weeks after his acquittal, however, Strauss-Kahn is once again being spoken of as a possible presidential candidate in France’s 2017 elections. A recent poll shows that 37 percent of French people would support his candidacy. He started a Twitter account June 22 and has since amassed more than 56,000 followers. -- 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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"Officials in France and in Brussels said on Monday that they were unhappy and dumbfounded with the no vote, but let it be known that they would hold the door open to the possibility of a compromise between Greece and its creditors." Dumbfounded? Why? Because the godlike power of the creditors was insulted? Mainstream coverage of economic matters -- the above quote is from the New York Times -- seldom cuts very deep into the world of money, seldom questions who's in charge, and seldom dares to suggest that an economic system ought to serve humankind rather than vice versa. The austerity packages Greece has endured as its condition of economic bailout over the past half-decade -- dictated by those who wielded financial power and were determined to profit enormously off the suffering of Europe's economic losers -- have not only further gutted the country's broken economy and prevented any sort of recovery toward self-sufficiency, but have shattered the socioeconomic structure of life for a huge segment of the Greek population. All of which is... you know, too damn bad. Money is as money does. The creditors have no choice but to impose severe restrictions on Greek social spending. As Robert Kuttner wrote recently at Huffington Post, Greece's economic comeback, including needed governmental reforms such as more effective tax collection, "would be so much easier and more effective in the context of a recovery program as opposed to a debtors' prison." Much of what I read about the situation reminds me of the way the mainstream media cover war: as both necessary and, in human terms, utterly abstract, with its consequences the stuff of separate, lesser stories, which have no bearing on the war's national value and ongoing necessity. The collateral damage of Greece's austerity includes: • An unemployment rate of more than 25 percent, and nearly double that for young people. "Meanwhile, our future flees. A quarter million university graduates have abandoned our nation. They have no choice: unemployment for those under 25 has hit 48.6 percent," Michael Nevradakis and Greg Palast write at OpEd News. • Pensions slashed multiple times, "two-thirds of pensioners live below the poverty line," according to Nevradakis and Palast. • Devastating cuts in healthcare, leaving nearly a million people without any, the U.K. Independent reported last year. The article quoted Dr. David Stuckler of Oxford University, lead author of a report on the crisis in the medical journal The Lancet: "The cost of austerity is being borne mainly by ordinary Greek citizens, who have been affected by the largest cutbacks to the health sector seen across Europe in modern times." The consequences of this have been particularly devastating to the most vulnerable, with infant mortality rising by 43 percent between 2008 and 2010, and stillbirths up 21 percent, according to the article. • "And, for the first time since World War II, widespread starvation had returned," Nevradakis and Palast write. "500,000 children in Greece are said to be malnourished. Students fainting from hunger in frigid schools which cannot afford heating oil is now a common phenomenon." Debtors' prison, indeed. "Imagine," Kuttner writes, "if the Europeans came bearing genuine technical assistance, investment capital and debt restructuring as opposed to more austerity demands." Imagine an economic system focused on serving human, and planetary, needs. Yet in the current dying howl of capitalism, human needs are reduced to frivolous luxuries. Where's the profit in good schools and healthy children? As the profiteers impose austerity on the vulnerable, indebtedness becomes a condition to be mocked. Yet we are all indebted. Our lives depend on the good will of others. In the wake of World War II, for instance, Germany was forgiven most of its Nazi-era debt. "In the 1950s, Europe was founded on the forgiveness of past debts," Thomas Piketty and other economists point out in an open letter to German Chancellor Angela Merkel, published in The Nation. This forgiveness allowed it to make "a massive contribution to post-war economic growth and peace. Today we need to restructure and reduce Greek debt, give the economy breathing room to recover . . ." And Kuttner asks us to "consider the many hundreds of billions of dollars of official aid that went to the big banks that caused the financial collapse of 2007-2008. Their sins, and the resulting damage to the global economy, were far worse than those of Greece. Yet they were showered with official aid. That double standard is also staggering." A bogus moral authority seems to accompany the accumulation of wealth -- a sense that one deserves it, while those without wealth deserve servitude and hopelessness. Beyond this moral authority lies the desperate need not to recognize the common humanity of those who are struggling to survive. Robert Koehler is an award-winning, Chicago-based journalist and nationally syndicated writer. His book, Courage Grows Strong at the Wound (Xenos Press), is still available. Contact him at koehlercw@gmail.com or visit his website at commonwonders.com. © 2015 TRIBUNE CONTENT AGENCY, INC. -- 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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Initially I did not think much of it. "We want democracy, we don't want war," said Lila Stylianou, a music professor, as we chatted in the port area of Piraeus following Sunday's referendum. People filled cafes along Marina Zea as the sun went down, eating ...
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On June 26, European Commission President Jean Claude Juncker declared that he was exhausted. “I don’t like this way of working, which leaves me sleepless," he said. "We can’t make the right decisions when we are tired.” Since then, the meetings, conference calls, Eurogroup meetings and press conferences have continued unabated, even after midnight. We have become witnesses to tired -- even exhausted -- politicians who, under conditions of intense stress, are being called upon to make historic decisions that will influence the direction of the country. Alexis Tsipras, Angela Merkel, Wolfgang Schaeuble and Jean Claude Juncker are just some of those responsible for making important decisions for Greece, as well as for the eurozone. Psychologist Eleni Tarvara explains to us how fatigue and intense stress can influence the decision-making process. One of the many definitions of the word “stress” is demand. According to this definition, stress results from a clash between the demand for something and the possibility of meeting the demand. To the extent that an individual is unable to meet the demand, stress increases -- bringing abnormal reactions to the fore. These reactions can be especially knee-jerk, so that the individual can leave his internal “struggle” behind. Jean Claude Junker at a press conference relating to the European Union and Greece. A number of studies have connected the lack of sleep with reduced brain activity and lack of concentration. A study conducted by the University of Texas on two groups of soldiers showed that lack of sleep makes it difficult to reach a logical decision and influences an individual’s judgement. The most up-to-date studies focus on the consequences stress can have on making important decisions. Some studies have shown that stress-producing factors, such as increased noise and time constraints, negatively affect people -- putting them into situations with a lot of pressure, and without the ability to plan and examine alternative choices that might be available to them. Angela Merkel in Paris, getting ready to meet Francois Hollande to discuss the Greek referendum. To study precisely what influence this stress-producing demand has on an individual’s judgement, scientists designed an experiment in 1993. They asked 40 participants to take part in an electronic game involving a gunfight in a forest. For half of the participants, stress-producing conditions, such as an annoying noise, were employed. For the other half of participants, there was no stress-producing condition. Then, the stressed-out group and the composed group competed in the game. The researchers found important differences in the ways the two groups overcame difficulties. The stressed-out group concentrated more on the overall view of the operation, without giving much thought to the consequences of their decisions, in an attempt to “get this over with.” The calmer group, on the other hand, concentrated on a greater analysis of the problems, examining choices and dividing up responsibilities. The stressed-out group had difficulty coping with the game, but the other group was able to control the movements of the game. Studies subsequently based on this data point to the presence of three basic behaviors in the movements of individuals experiencing stress. Individuals can assert themselves, attack or be passive. Individuals who exhibit assertive behavior are those who negotiate for what they need, what they desire and for their opinions without trying to impose them on others or thinking it self-evident that they'll get their way. In the second category of reaction, we find the “aggressive” individuals. Here, while the individuals systematically defend their rights, they disregard or are indifferent to the rights of others. They easily anger, want to dominate the discussions and continue to attack and criticize even when others back down. Conversely, because they feel anxiety and guilt, passive (non-assertive) individuals find it difficult to ask that their demands be met, while they very often meet the demands of others. They often assume an apologetic stance, feel melancholy and judge themselves in the same negative way. Angela Merkel and Wolfgang Schaeuble in discussion. The aforementioned studies link the decision-making process within those groups that act under intense stress (anxiety, fatigue, pessimism) with a mainly aggressive or passive manner. Thus, it seems that individuals who act under stress aren't unaware that the most balanced choice is being assertive, which gives them the chance to defend their rights in a more systematic, non-directional and independent way. On the contrary, they resort to aggressive or passive behavior so they can to get out of the impasse they have fallen into, with a desire to return to a balanced state of calm as quickly as possible. In collaboration with Helen Tarnaras, FIGHTSTRESS. This article originally appeared on HuffPost Greece and was translated into English. -- 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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The WorldPost's "Through Your Lens" series brings you stunning photos taken by social media users in a different country around the world every week. This week, we explore beautiful beaches around the world. From the white sands of Saint Martin, to a surfer's heaven in Australia or an urban retreat in England, everyone has ways to make their beach experiences their very own. Whether you're preparing for your upcoming beach holiday or chained to your desk, these photos are bound to spark your wanderlust. Check out the WorldPost on Instagram for more vibrant photography from across the globe. Tag your Twitter and Instagram photos with #WorldPostGram so we can feature them in our next post. A photo posted by (@janksmarc) on Jul 5, 2015 at 9:58am PDT Turks and Caicos A photo posted by Crastor Photography ️ (@crastorphotography) on Jul 5, 2015 at 10:40pm PDT Maho Beach, Saint Martin A photo posted by Loran Coker (@lorancoker) on Jul 8, 2015 at 3:19am PDT Surfer's Paradise, Queensland, Australia A photo posted by Erik Hageman (@erikhageman) on Mar 18, 2015 at 10:26am PDT Zandvoort Beach, The Netherlands A photo posted by Namko (@namko_gram) on Jul 7, 2015 at 5:28am PDT Sanasana, Fiji A photo posted by Irene (@whiteavacado) on Nov 14, 2014 at 5:45am PST Red Beach, Santorini, Greece A photo posted by de (@twistdee) on Jul 7, 2015 at 2:05pm PDT Bondi Beach, Australia A photo posted by @katdferraro on Jul 8, 2015 at 6:31am PDT Kubu Beach, Bali A photo posted by @trailplodder on Jan 27, 2015 at 1:25am PST Maya Bay, Thailand A photo posted by @mallowandmate on Jul 8, 2015 at 5:39am PDT Vila Nova de Gaia, Portugal A photo posted by @iammaggiema on Jul 3, 2015 at 4:35pm PDT Pink Sands Beach, Bahamas A photo posted by Satrio Dimasruri (@satriodimasruri) on Jul 6, 2015 at 9:23am PDT Pantai Tirang, Indonesia A photo posted by Erik Hageman (@erikhageman) on Jun 23, 2015 at 12:10pm PDT London, England -- 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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#politics
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While we all watch with shock as Greece goes into an economic death spiral, much bigger waters are stirring with long term consequences for all of us. The tragedy of the current crisis is this: almost everyone comes out a loser. In spite of recent and their troubles are only beginning. Banking restrictions, market shortages and delays in payments, salaries and pensions will soon become a fact of life. The creditors' road ahead is also bleak. They can hold their noses and write more checks to Greece, adding fuel to populist anti-austerity movements in other financially stressed countries, or let Greek banks collapse and force Greece out of the Euro. Either way, they lose. The former risks throwing good money after bad and the latter opens the door to future challenges to other, much larger -- but also weak -- Eurozone economies. The world needs a strong European Union. The current challenges to the Eurozone threaten that. The impending Greek exit shines a spotlight on the fundamental flaw in the foundation of the Eurozone project. A common currency without the stabilizing force of a political, fiscal and banking union makes the Eurozone vulnerable to shocks and incapable of mounting rapid, unified responses in the face of crises. Markets will take note, and there will be a price to pay when the next country has a fiscal crisis, which is inevitable. Future global economic growth is at risk and we will all pay an economic price for the Greek morass. In addition to the economic woes, there is also a political and security price to the Greek crisis. Putin reached out to the Greek prime minister almost immediately after the referendum to express his support. The Kremlin is certainly smiling as they see the potential for a Trojan horse in NATO and the EU. The EU's plans to weaken their dependence on Russian energy are also at risk, as Greece was an alternate transit route from the Caucuses and Central Asia. And Russia has been eyeing Greek bases in the Mediterranean greedily as they look to project greater influence in the region. So what should happen next? Eurozone creditors should recognize that Greece's debt is unsustainable. They should make a sizeable debt write-off as opposed to the "extend and pretend" approach of lengthening maturities and grace periods and lending Greece just enough to recycle the debt. The write-off could come in semi-annual tranches conditioned on a responsible fiscal program. But it needs to be big -- on the order of cutting half of the roughly $180 billion owed to the Eurozone countries -- to have the desired impact. The write-off will either happen in a negotiated way that encourages additional reforms, or it will happen as a result of a chaotic exit from the Eurozone. The Greeks for their part need to recognize and acknowledge that they are on the doorstep of leaving the Eurozone, contrary to Prime Minister Tsipras' recent statement that this is not even on the table. They need to stop blaming others for the mess they are in, and implement a responsible program that restores faith and confidence in the government and allows them the fastest path back to accessing the European Central Bank and then international credit markets. They need to appeal to Greek pride and encourage their citizens to imagine how they would feel if their cousin Cyprus, who suffered similar problems, remained in the Eurozone and they were forced out. But what is really likely to happen? Sadly, I don't think that's the scenario that will play out. Politically, creditors will be unable to support a sizeable write-off in the face of their own domestic politics and the wild posturing of the inexperienced and radical Greek government. They will make a half-hearted attempt to negotiate an agreement, but disbursements will be so conditioned and limited to paying back themselves that failure will be guaranteed Sooner or later, they will encourage the Greeks to introduce a temporary parallel payments/currency system to mitigate the economic and humanitarian catastrophe developing in the country as the government and banks run out of cash. A return to the Euro will remain on the table as a desired outcome once the government has stabilized the situation and back on track with a reform program. Greeks will see this as another pressure tactic and betrayal. The government will hang on longer than it would have otherwise because of the boost to nationalistic anger, but will eventually fall. A period of political instability will follow and the economic situation will continue to deteriorate. Over time, the door back to the Euro will close. Greece in its anger and hurt will look to Russia, China and Iran for solace and, while remaining in the EU and NATO, will become an unreliable partner until their economic situation significantly improves. And the Eurozone -- the centerpiece of the European project of integration -- will have shown its fault line, and the speculation on the next weak link will begin. -- 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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ATHENS -- I voted "Yes" and the result was a resounding "No." And yet I believe that the "Yes" campaign may still win. I am not a hard loser, and I am not delusional. Instead, I have started to become accustomed to the doublespeak that has always characterized Syriza and its government. Strangely enough, I draw on elements of this doublespeak today to retain hope, against all odds, that reason and the founding ideals of Europe may still prevail. This government is certainly not unique in populist tendencies, but it has turned it into an art form; perhaps a mark of the extreme times. Doublespeak turned a diverse clutch of Marxist-Leninists, social democrats, Eurosceptics, pro and anti-euro groups into a party and allowed it to form a coalition with an extreme right-wing party. Doublespeak and desperation gave purchase to the irreconcilable pre-election promise of an end to loan agreements, austerity, debt, and an end to, and even reversal of, reforms. Doublespeak has characterized the negotiations with the creditors and has done so much harm to Greece's credibility with its European partners. It has also allowed world renowned liberal economists and thinkers to believe that the government has been committed to far-reaching while everything the government has done and said has been deeply anti-reform and clientelistic -- that is, beholden to organized interests that would be harmed by implementing reforms in areas such as taxes, pensions, labor laws and professional licenses. In the short span of its administration, the ruling Syriza coalition has begun dismantling recent education reforms, excelled in nepotistic appointments, undertaken questionable and expensive military procurements, threatened journalists and turned indiscriminate rehiring of public sector workers into a symbol of justice to a desperate people longing for the security of permanent jobs. Its continued declarations to end corruption, tax evasion and oligarchic privilege-a mantra of every government and opposition party have the flavor of a witch hunt against those who dare speak their mind. The ease with which Syriza formed a coalition with the extreme right Independent Greeks, when it could have sought support from the pro-reform Potami party; the speaker of the parliament's flirting with Golden Dawn; the sympathy with left-wing terrorist groups; have all imbued its doublespeak with frightening Orwellian overtones. This has been reinforced with veiled threats by the minister of defense to send jihadists to European countries, homophobic, anti-Semitic comments, and often authoritarian behavior and disregard for parliamentary procedures and independent authorities. "Despite all the animosity towards European leaders, the single demand that unites the Greek people is to remain firmly in the euro and the European Union" My point here is not to attack everything that Syriza and its followers stand for. I am convinced that enough of its members and enough of its voters -- and certainly the large majority of the "No" voters -- remain motivated by the hope for a just and deeply reformed society. Clientelism is our habit because it is the only way we know how to secure a living. But we also know that it is the cause of injustice and a dysfunctional and unsustainable future. Part of this very clientelism means that we don't have trust in institutions. Our security and advancement comes from who we know. We trust people not rules. Leaders not parties. And here's the paradox. We have to trust a leader to bring about a transformation so that leaders become less relevant and so that we can count on rules and institutions and know that leaders will be accountable. While we don't trust our own weak, clientelistic and exploitative institutions, we do trust the stronger and healthier if imperfect institutions of Europe and the ideals they represent. The reason that we cling to Europe, the EU and the euro despite all our suffering, and however much we attribute to their poor handling of our present predicament, is that with all the disillusionment we have in the capacity of our own governments and our institutions, imperfect Europe remains a beacon of hope. We have already gained immensely from the needed reforms to enter the EU and from being part of the EU. We have come to associate much of our hard won progress and improvement in our institutions and our lives with the EU. Our European Union has become our clearest proxy for reform and the ideals of democracy that we cherish despite its glaring imperfections. This is why despite all the animosity towards European leaders, the single demand that unites the Greek people is to remain firmly in the euro and the European Union. This is why Tsipras had to promise that we will stay in the euro in order to achieve his win. However much we come to trust our own leaders, we check their power by binding them to the rules of the European Union. Our leaders after all, are also the product of clientelism however much they can transcend its strictures. "The main check to Tsipras' power is the unique historical double bind he is now in." There is little doubt that Tsipras, a master of doublespeak, has gained the trust and hope of a large swathe of the Greek people. No doubt, the damage done from the economic crisis and its mishandling, in Greece and abroad, has wiped out an entire political class giving Tsipras near monopoly power over Greece's fate at this moment. This monopoly power was substantially enhanced in the referendum. Concentration of power is never good. Checks and balances are fundamental to democracy. The main check to Tsipras' power is the unique historical double bind he is now in. Should he break with the euro the misery that will follow will likely be his demise. Should he sign an agreement that will certainly involve tough and sweeping reforms and some barely tolerable austerity he will suffer loss of popularity but has a chance at a success and a good place in history. The "No" vote substantially increased the risk of an exit from the euro and it strengthened the many eurosceptic anti-reform elements in the coalition government. But the extent of the win and its attribution to Tsipras personally has strengthened his hand. Staying in the Eurozone Tsipras' first moves following the election appear to be in line with his promise to stay in the eurozone. Varoufakis' resignation was a gesture of goodwill to these partners. His calling of a council of the party leaders of parliament has shown a desire to unite. The joint statement reached with the party leaders on negotiations with the EU include a commitment to reform. The implicit deal that has always been on the table from a conservative Europe has reached its starkest form: far reaching reforms and austerity potentially softened by some form of debt relief/investment support, or an organized exit from the euro and possibly the EU. The choice for Tsipras is dramatic. The moment of truth and the first break from doublespeak has come. He can become a leader of stature and take the deal and side with the vast majority of Greeks on either side of the "Yes"/"No" divide to whom he has promised to remain in the euro and undertake the reforms Syriza has resisted. Alternatively, he can live a short moment of glory as a revolutionary by siding with a small minority of the "No" camp and turn the country into a failed state run by a new set of authoritarian oligarchs. Sunday night is upon us. -- 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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His eurozone counterparts were livid after the left-wing Greek government called and won an austerity referendum that rejected their proposals for a ...
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With apologies to Yogi Berra, whether Greece gets its debt reform deal or not, the future is grim for most of its people for years to come. The post World Press View: It Ain’t Over Even When It’s Over appeared first on The National Herald.
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Hopes that Greece can get a rescue deal that will prevent a catastrophic exit from the euro rose on July 9, after key creditors said they were open to discussing how to ease the country's debt load, a long-time sticking point in their talks. The post Hopes For Greek Deal Rise, Troika Open To Debt Restructure Idea appeared first on The National Herald.
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To many observers outside of Athens, the prospect of Greece leaving the eurozone is a matter of when, not if. Recommended: Think you know Europe? Both Greeks and Europeans have experienced a roller coaster of emotional highs and lows as news of the negotiations trickles out of Athens, Berlin, and Brussels.
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By Francesco Guarascio LUXEMBOURG (Reuters) - The European Union failed on Thursday to reach a deal to resolve a migration crisis in the Mediterranean, and instead set a deadline of July 20 to reach an agreement on how to redistribute 40,000 asylum seekers currently in Italy and Greece. "We made progress but we are not there yet," Dimitris Avramopoulos, the European Commissioner responsible for migration, told reporters after a meeting of European interior ministers in Luxembourg. The European Commission, the EU's executive arm, proposed in May to relocate 60,000 refugees over the next two years.
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After WWII, the new West Germany got massive help in debt forgiveness which helped it rise to power. Among its creditors then? Greece. The post When Greece Forgave German Debt appeared first on The National Herald.
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The Greek government will ask for parliament's approval on Friday to negotiate on the text of "prior actions" that could form the basis of a cash-for-reforms deal with the country's international creditors, a government source said. As Greece races to stave off bankruptcy, its creditors want Athens to pass laws on reforms as "prior actions" to convince the international lenders of the government's intent. There will be one vote on whether to authorise the government to use the text as a basis for talks, the source said.
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Proposals from Greece to explain how it will meet conditions for a new international bailout loan were received on Thursday by Jeroen Dijsselbloem, who chairs the Eurogroup of euro zone finance ministers, his spokesman said. "New Greek proposals received by Eurogroup President Dijsselbloem," he tweeted. "Important for institutions to consider these in their assessment." He later added that Dijsselbloem would offer no comment on the content of the proposals until an assessment of whether they formed a basis for negotiating a loan had been completed by the institutions responsible for the review.
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Greek Prime Minister Alexis Tsipras held a speech on Wednesday (July 8) in the European Parliament in Strasbourg. Tsipras faced strong attacks from some parliamentarians. Another Greek figure in the news was Yanis Varoufakis who resigned as finance minister after the referendum in Greece. Presenter: Laeticia Markakis, Euranet Plus News Agency Get more editions of […]
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ATHENS, Greece (AP) — Greece seeking 53.5 billion euros in new bailout package.
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BRUSSELS (AP) — European Union ministers failed Thursday to agree on relocating 40,000 of the refugees making risky boat trips from North Africa to Italy and Greece and will try again later this month to broker a deal on how many people each country will accept.
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