Forest fires which ravaged Greece on Friday are now under control, however, the damage they have wreaked on the crisis-striken country is taking its…
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| READ THE ORIGINAL POST AT www.euronews.com |
How the world sees Greece
Saturday, July 18, 2015
Greece debt crisis news: Alexis Tsipras shows his Machiavellian streak in a purge of Syriza rebels
… his country. His rhetoric, painting Greece as a small country fighting … leaders of New Democracy and Pasok as constituent parts of a … proposals are utterly unrealistic. The Greek prime minister will attempt to …
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| READ THE ORIGINAL POST AT world.einnews.com |
Greece Orders Banks To Reopen After Three-Week Closure
… move came just hours after Greece swore in new ministers following … ) bailout deal with the EU. Greece enacted the bank closure on … demands that 61 percent of Greek voters rejected. Based on reporting …
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| READ THE ORIGINAL POST AT world.einnews.com |
Greece debt crisis: Would the Troika keep lending if the country had a sub-prime mortgage?
… such as Greece. In contrast to sub-prime borrowers, the Greek government was … could change the solvency of Greece by imposing strong conditions. These … reforms” and austerity imposed on Greece. Eventually this might have led …
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| READ THE ORIGINAL POST AT world.einnews.com |
Italian FinMin says Greek plan should be balanced
Talks on better integration in EU necessary says Padoan
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| READ THE ORIGINAL POST AT en.protothema.gr |
Germany's nod to bail out Greece leads to defections
ATHENS — The leaders of Greece and Germany confronted dissenters Friday over the wisdom of a $96 billion bailout for Greece agreed to this week, ...
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| READ THE ORIGINAL POST AT triblive.com |
Another Tsipras U-Turn: Greece Pledges Big Privatization Push
In an about-face, Greece's ruling SYRIZA party will embark on sale of state enterprises after vowing to halt them in their tracks and after Prime Minister Alexis Tsipras had criticized previous administrations for going ahead with them. The post Another Tsipras U-Turn: Greece Pledges Big Privatization Push appeared first on The National Herald.
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| READ THE ORIGINAL POST AT www.thenationalherald.com |
Greek crisis reveals a 'brutal Germany'
London. For decades, Germany saw its role as the financier and beneficiary of European unity, a combination of penance for the past and self-interest.
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| READ THE ORIGINAL POST AT www.timesunion.com |
Minister in Germany Discusses Greece Role
Asked by the weekly Der Spiegel about differences between his tough stance with Greece and the greater flexibility shown by Chancellor Angela ...
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| READ THE ORIGINAL POST AT www.nytimes.com |
Greek government issues decree on banks' reopening
The Greek government has issued a decree ordering banks to reopen on Monday, three weeks after they were closed amid the country's debt crisis. The…
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| READ THE ORIGINAL POST AT www.euronews.com |
Greece to reopen banks on Monday after 21-day shutdown
More flexible withdrawal limits will allow a maximum of 420 euros a week, in place of current limit of 60 euros a day.
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| READ THE ORIGINAL POST AT www.aljazeera.com |
Building a Start-Up Culture in a Broken-Down Economy
Some young Greek entrepreneurs are thriving with the help of international investors, providing a glimmer of hope for the economy.
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| READ THE ORIGINAL POST AT rss.nytimes.com |
What you need to know before travelling to Greece
With Greece still feeling the effects of civil unrest due to the shattered economy, visitors must check they are covered if things escalate once more.
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| READ THE ORIGINAL POST AT www.dailymail.co.uk |
Puerto Rico's ignored debt crisis fuels statehood proponents
The Standard & Poor's ratings agency cut Puerto Rico's credit rating down to junk status this week. Can an initiative to make the US territory the 51st state save its economy, or will the island become the next Greece?
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Schauble: My grandmother taught me kindness. I used it with Greece!
Krugman unaware of Europe says Schauble
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| READ THE ORIGINAL POST AT en.protothema.gr |
‘Greatest disaster’: Varoufakis says new Greek bailout doomed
Former Greek Finance Minister Yanis Varoufakis has warned that the economic reforms from Greece’s debt holders are doomed to fail. The assessment comes as PM Alexis Tsipras has reshuffled his cabinet in efforts to secure a third bailout package. Read Full Article at RT.com
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| READ THE ORIGINAL POST AT www.rt.com |
Greece looks to offshore oil and gas
Greece is in an economic depression. Whether or not it agrees to the ruinous terms imposed upon it by its creditors in order to obtain a bailout, or if ...
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| READ THE ORIGINAL POST AT www.usatoday.com |
2 barriers down for Greece's bailout
ATHENS, Greece -- Greece's proposed bailout cleared further key hurdles Friday after German lawmakers overwhelmingly gave their backing to ...
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| READ THE ORIGINAL POST AT www.arkansasonline.com |
Google, China, and Greece Offer Balm to the Markets
And the tiny nation of Greece similarly again commanded much of the markets' attention. But once the Greek government acquiesced to its creditors' ...
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| READ THE ORIGINAL POST AT online.barrons.com |
Debt Relief For Greece? Germany Says It's Illegal. The Reality Is Not So Simple
German Chancellor Angela Merkel and Finance Minister Wolfgang Schäuble contend that debt relief for Greece would violate EU law. Reuters/Axel ...
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| READ THE ORIGINAL POST AT www.ibtimes.com |
Banks to Reopen in Greece; Tsipras Reshuffles Cabinet
Greek Prime Minister Alexis Tsipras (front) leaves his office at the Maximos Mansion to attend a swearing-in ceremony for members of his government ...
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| READ THE ORIGINAL POST AT www.newsweek.com |
Schaeuble Says No Reason to Quit Over Greece After Deal
While Merkel has avoided mentioning the possibility of Greece's leaving the euro, Schaeuble has raised the specter since Greek Prime Minister Alexis ...
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| READ THE ORIGINAL POST AT www.bloomberg.com |
Opinion: Germans keep their cool when it comes to Greece
Can Greece still be saved? Germany's government wants to try and the Bundestag is on board. Still, no one is quite ready to charge into the breach for ...
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| READ THE ORIGINAL POST AT www.dw.com |
Greece’s Former Energy Minister Commits to Changing SYRIZA Policy
Greece’s former Energy Minister Panagiotis Lafazanis criticized the bailout deal that Prime Minister Alexis Tsipras has agreed to. Lafazanis, leader of SYRIZA’s so-called Left Platform, made his comments in an interview to Greek newspaper Agora and an article he penned for newspaper “Ta Nea.” Lafazanis was sacked from his Ministerial post after voting against the bailout deal in parliament. However, Lafazanis told Agora that he refuses to leave his position as a SYRIZA MP and vowed to fight for changing the party line and resisting new Memoranda. In his article, Lafazanis claimed he could never vote for a new bailout deal with more austerity measures. “Blackmail, even if it is as blatant and harsh as the one of the EU neo-colonizers, it is not always a sufficient reason for retreat,” he wrote.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Greek PM ousts rebels as bailout plan gathers momentum
ATHENS - Greek PM Alexis Tsipras has axed ministers who had rebelled over draconian bailout terms, putting his house in order before a fresh round of tough negotiations with creditors including European Union (EU) hawk Germany, which greenlit the deal.
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| READ THE ORIGINAL POST AT news.asiaone.com |
Brace yourself for Obamacare 'sticker shock'
TORONTO – It is cool here. A welcome change from Athens, Madrid, and Paris. The markets were cool yesterday, too. The Dow rose 70 points. Nothing to get excited about. Today, we report on a new front in the Great Zombie War – the U.S. health care sector… and why costs there are set to rise. (More on that below…) For now, we are sitting in the bar at The Hazelton Hotel. We always thought of Canadians as being a bit more reserved and conservative (socially, not necessarily politically) than their neighbors to the south. Well, not in this hotel! It is more like Dallas than what we recall from our summers in Nova Scotia. People dressed in the latest gaudy fashions… loud hipster music… trendy decor… women who appear to have had extensive body work done. And on the TV above the hotel bar is a recurring ad from a zombie law firm advertising for personal injury cases! Is Spain the Next Greece? We floated our way through Europe’s wine country, foggily trying to keep track of what we are seeing. We surveyed the Greek front with a pitcher of red wine on a blue paper tablecloth. Greek wine is as mysterious to us as Greek finance – both make you a little light-headed. The wine served in the street restaurants of Athens is cheap and plentiful. In Madrid, our host insisted on a classic Rioja… a rich, complex wine. Madrid is a cleaner, more modern, and more sophisticated city than Athens. The wine is similarly more advanced and reliable. And in France, a Bordeaux… a Saint-Émilion… or a Saint-Estèphe… usually anchors our red-checkered tablecloth. After the Rioja, the perplexing Greek wine, and months of drinking Malbec in Argentina, the French wines seem to lack character. They are like the French people: subtle and clever. In Greece, we were there to witness a financial system meltdown. It didn’t oblige. The scheduled breakdown didn’t happen when it was supposed to; Greece and its creditors booted the can down the road yet again. Even after two weeks of closed banks… and widespread expectations of a financial crack-up… we saw no sign of panic. Instead, the Greeks were prepared. Bloomberg, interviewing a local restaurateur, sheds some light on how: My son is a fisherman. Today I took two kilograms of my son’s fish to the butcher. He gave me two kilograms of meat in return. We don’t take money to the bank. The money we earn is spent on supplies and expenses to eat and drink. Meanwhile, our sources in Madrid explained… There is a big political movement here to throw out the baby and the bathwater. There’s a whole new political party, called Podemos (which translates as “We Can”). It came out of nowhere. It was organized on the social media. I’ve never seen anything like it. I don’t know what these people want… but I don’t think they’re going to be as predictable and as flexible as the traditional parties. Our guess is Podemos wants to slip Spain’s debts. Zombie Math Most people will be zombies – if they can get away with it. Everyone wants wealth, power, and status. And they want to get it in the easiest way possible. So, it really only makes sense for them to support the political party that promises to give them more than they can get on their own. Or, to put it differently, in a modern democracy, politicians must promise to give voters back more than they take from them in taxes. If a party gives back only what it takes in from taxes, the zombies get no net gain. And when the politicians promise to run a budget surplus to pay down debts from past spending, the zombie math no longer works. The voters must pay more in taxes than they get in redistributions. That’s when the logic of modern popular democracy breaks down. And when that happens, watch out! Now, back in the New World, we turn our lips to a California wine and our attention to the North American front of the Great Zombie War. From the New York Times comes news of a big zombie push in the health insurance sector. You’ll recall the lay of the land. Crony lobbyists for insurance companies, Big Pharma, and the medical industry got together with the Obama administration and created “Obamacare.” The law was so complex and so long-winded that politicians voting for it admitted they didn’t know what was in it. Only the cronies knew what was in this pudding; they had put the sugarplums in themselves. The rest of us would just have to wait until we choked on the seeds: Reports the New York Times: Health insurance companies around the country are seeking rate increases of 20% to 40% or more, saying their new customers under the Affordable Care Act turned out to be sicker than expected. Federal officials say they are determined to see that the requests are scaled back. “As a result, millions of people will face Obamacare sticker shock,” said Senator John Barrasso, Republican of Wyoming. Yes… the medical industry is a battleground, too. The zombies are fighting hard – by hook, crook, regulation, and legislation – to get even more of your money. Stay tuned for the next dispatches from the front lines…Join the conversation about this story »
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Former Greek FinMin Varoufakis: Bailout Program Will Fail
Former Greek Finance Minister Yanis Varoufakis spoke out once again against the new bailout deal. “This program is going to fail, whoever undertakes its implementation,” he told the BBC and added that it has actually already failed. The former Finance Minister voted against the three-year bailout deal in Greece’s parliament and had called it the new Versailles Treaty. Varoufakis had an uneasy and at times confrontational relationship with the Eurozone Finance Ministers. He was highly critical of a new bailout deal that included more loans without any debt restructuring. Despite his thoughts on the deal, Varoufakis recognized that Greek Prime Minister Alexis Tsipras was stuck between a rock and a hard place. “We were given a choice between being executed and capitulating. And he decided that capitulation was the optimal strategy,” he said.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Former Greek Prime Minister’s House Shot with Arrows
Former Greek Prime Minister Costas Simitis‘ summer house was allegedly shot with four arrows on Friday night. The arrows were made out of wood and the edges had been wrapped in duct tape. They were found in the font yard as well as in the entrance of Simitis’ summer house in Agios Theodoros this morning. The Corinth police department is investigating the matter.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
German finance ministry dismisses speculation Schaeuble to resign
The German finance ministry dismissed speculation in German media on Saturday that Finance Minister Wolfgang Schaeuble was considering resignation over differences of opinion with Chancellor Angela Merkel on the issue of Greece. Germany's Der Spiegel printed an interview with 72-year-old Schaeuble in which he said he could always ask the president to relieve him of his duties in response to a question about whether problems could arise if the chancellor and finance minister had divergent opinions on financial support for Greece. Some German media published reports based on the interview suggesting that Schaeuble was thinking about stepping down.
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| READ THE ORIGINAL POST AT uk.news.yahoo.com |
Merkel ally urges German MPs who voted against Greek aid talks to rethink
The general secretary of Chancellor Angela Merkel's Christian Democrats has urged lawmakers who voted against opening talks on a third financial rescue for Greece to reconsider. In an advance copy of an interview to be published in newspaper Tagessspiegel on Sunday, Peter Tauber said those members of parliament should think of some words of former Chancellor Konrad Adenauer, father of the West German federal republic, that no one could prevent him from becoming wiser.
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| READ THE ORIGINAL POST AT uk.news.yahoo.com |
Syrian Refugees Overwhelm Park
Greek officials are working with NGO's to try to relocate dozens of Syrian refugees camped out in a central Athens park. The post Syrian Refugees Overwhelm Park appeared first on The National Herald.
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| READ THE ORIGINAL POST AT www.thenationalherald.com |
Dublin, Lisbon and Madrid have beaten the bailout. That’s no comfort to Athens
In Ireland, Portugal and Spain, the IMF has left and at least the semblance of growth has returned. But Greece’s problems put it in a class of its ownThey used to be pejoratively labelled the “Pigs”: Portugal, Ireland, Greece and Spain, the “peripheral” countries carried into the eurozone on a wave of prosperity that were all forced to go cap in hand to their neighbours – and the International Monetary Fund – when the financial crash came.Yet while Greece’s plight has only worsened over the five years since it was first rescued, the other three bailed-out countries have managed to return to growth, and send the inspectors from the International Monetary Fund back to Washington.A lot of the Spanish story is a function of exports. In 2009-10, factories were relocating from eastern Europe to Spain Continue reading...
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| READ THE ORIGINAL POST AT www.theguardian.com |
Greece's forced 3-week bank closure ends Monday but restrictions on withdrawing cash remain
Greek banks are reopening Monday after a forced 3-week closure but restrictions on cash withdrawals will remain.
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| READ THE ORIGINAL POST AT feeds.foxnews.com |
Greek banks to reopen as revamped cabinet gets to work
Greece said Saturday its banks will reopen after a three-week shutdown, as a revamped government took up the task of enacting unpopular fiscal reforms amid doubts over the viability of the country's planned bailout.
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| READ THE ORIGINAL POST AT uk.news.yahoo.com |
Now a deal has been done, what lies ahead for the Greek economy?
… outside parliament last Wednesday, Greek MPs voted through the … the glories of ancient Greece, probably the single … emerged from bailouts intact – Greece’s downward spiral will … next.” Professor Konstantinos Tsoukalas, Greece’s pre-eminent sociologist, believes …
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| READ THE ORIGINAL POST AT world.einnews.com |
Greek Banks Set to Reopen as Tsipras’s New Cabinet Takes Over
… to a bailout program and Greek lawmakers approved legislation needed to … the Bank of Greece and the ECB, said a Greek central bank … European Union member states prevents Greece from an immediate default.” --With …
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| READ THE ORIGINAL POST AT world.einnews.com |
Tsipras eyes new start for Greece
… coalition partners, the right-wing Independent Greeks party. The first action of … credit lines which the tottering Greek banking sector needs to survive … bailout deal if it kept Greece in the euro. ($1 = 0 …
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| READ THE ORIGINAL POST AT world.einnews.com |
How the Greek crisis changed Europe forever
… capitulation at worst. Breaking point: Greek finance minister Euclid Tsakalotos puts … understood that,” says George Katrougalos, Greece's new labour minister … , Greece's labour minister Katrougalos remains hopeful that, while Greece may …
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| READ THE ORIGINAL POST AT world.einnews.com |
Fresh start for Tsipras?
Greek PM Alexis Tsipras has reshuffled his cabinet and is attempting a fresh start. Well-known leftists have been sent packing. But some believe the prime minister is simply filling time until the next election.
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| READ THE ORIGINAL POST AT www.dw.com |
All banks in Greece to reopen on Monday
All banks in Greece will reopen on Monday after a three-week holiday, but capital controls will continue, an official said on Saturday.
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| READ THE ORIGINAL POST AT www.business-standard.com |
Schäuble prepared to resign in extreme case of Greek bailout coercion
In the dispute over Greece's bailout, German Finance Minister Wolfgang Schäuble (CDU) has said he would resign rather than change his position on the deal. His hardline stance has met with criticism during negotiations.
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| READ THE ORIGINAL POST AT www.dw.com |
From Monday Greek banks will allow withdrawals of up to 420 euros a week
#economy
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| READ THE ORIGINAL POST AT en.enikos.gr |
Greek Depositors Entitled to Withdraw €420 Each Week Beginning Monday
After Deputy Finance Minister Dimitiris Mardas announced that banks will open on Monday, the Greek government issued a Legislative Content Act that delineates the new rules and restrictions for capital controls. Though the daily withdrawal limit will remain at 60 euros per day, depositors will now be able to collect up to 420 euros per week. Thus if a depositor prefers to skip a daily withdrawal, they can let the 60 euros roll over to the following day and can do this all the way up to the end of the week. However, if a depositor does not withdraw any money during a whole week, those 420 euros will not carry over to the next week. Furthermore, pensioners are eligible to collect 300 euros from their pension per week. On Monday, 2,500 bank branches across Greece will reopen.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
New Greek Cabinet Inaugurated in Low Key Ceremony
The new Greek cabinet was inaugurated on Saturday morning in a ceremony that was followed by a Ministerial meeting. The new Ministers officially accepted their new posts under the supervision of the President of the Hellenic Republic, Prokopis Pavlopoulos. The usual live broadcast of the event was conspicuously absent. Deputy Finance Minister Trifon Alexiadis, Deputy Foreign Minister Giannis Amanatidis and Deputy Labor Minister Pavlos Haikalis took a religious oath, while the rest of the new Ministers took a political one. Following the inauguration, Greek Prime Minister Alexis Tsipras held a Ministerial meeting where he informed the new Ministers of the next steps the government has to take. New government spokesperson Olga Gerovasili said that this is a crucial moment for Greece, requiring more action than talk. “I think it is time to reverse the way people feel. To make people feel safe and secure under the SYRIZA government,” she said. New Deputy Defense Minister Dimitris Vitsas was optimistic about the new administration’s capabilities. “I believe the new administration will continue the previous one’s efforts, perhaps under better conditions, which we will have to create,” he said.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Fires in Greece Raise Arson Suspicion – One Person Missing
The 79 fires that broke out on Friday in Greece threatened various residential areas and raised suspicions about the causes of the outbreaks. Winds in Greece were very strong on Friday, but the simultaneous outbreak have raised some questions even by the country’s high ranking officials. Greek Defense Minister Panos Kammenos expressed his belief that there are ulterior motives behind these fires. “It is very possible -although the Fire Department will decide this- that there is arson at play, making us feel that this is 2007. The Armed Forces will be in the mountains in order to prevent these events,” Kammenos said. The fire that burned Ymittos mountain was severe and seriously threatened houses at the area of Kareas in Athens. Meanwhile, a 48-year-old man has gone missing in Ymittos and authorities do not currently have any insight as to where he could be. So far, two beekeepers have been arrested for causing the fire in Ymittos and will be charged with negligent arson. Laconia, which is the southern Peloponnese territory, also suffered significant damage from the fires. According to reports, 40 houses were damaged in the city of Neapoli while around 10,000 olive trees were burned. A beekeeper was arrested for negligent arson. Major fires also threatened communities in Malakasa, outside Athens. The fire put 130 camp children at immediate risk. The children were safely moved away from the camp. The flames persisted until late Friday night. Official reports warn that there is a very big likelihood that there will be new outbreaks in the country on Sunday.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Greece Orders Banks To Re-Open Monday
ATHENS, July 18 (Reuters) - The Greek government ordered banks to open on Monday, three weeks after they were shut down to prevent the system collapsing under a flood of withdrawals, as Prime Minister Alexis Tsipras looked to the start of new bailout talks next week. The decree to re-open the banks came hours after new ministers were sworn in following a cabinet reshuffle in which Tsipras replaced dissident members of his ruling Syriza party following a revolt over the tough bailout terms. In a move that marked a split with the main leftist faction in the ruling Syriza party, Tsipras sacked hardline former Energy Minister Panagiotis Lafazanis and two deputy ministers following a party rebellion in which 39 Syriza lawmakers withheld support from the government over the package. Panos Skourletis, a close Tsipras ally who left the labor ministry to take over the vital energy portfolio, said the reshuffle marked "an adjustment by the government to a new reality." The reshuffle allowed Tsipras to replace cabinet rebels with allies of his own or from his junior coalition partners, the right-wing Independent Greeks party. The first action of the new cabinet was to sign off on a decree to reopen banks on Monday with slightly more flexible withdrawal limits that allow a maximum of 420 euros a week in place of the strict limit of 60 euros a day currently in place. But restrictions on transfers abroad and other capital controls remain in place. The move had been widely expected after the European Central Bank agreed to re-open the emergency credit lines which the tottering Greek banking sector needs to survive. Tsipras now intends to seal the bailout accord with European partners over the next few weeks before likely new elections which Interior Minister Nikos Voutsis said this week could happen in September or October. "Our aim is to negotiate hard for the terms of the agreement, not just to seal it, but on how it will be implemented. There are many vague terms in the text," said newly-appointed Labor Minister George Katrougalos. He said the government, elected in January on an anti-austerity platform, would fight for an agreement that was "socially just" and dismissed suggestions that it would have to take on the powerful labor unions and risk street protests. "The Left is with demonstrations. The Left wants the people on the streets," he said. TOUGH BAILOUT TERMS The deal, approved with the support of opposition parties on Thursday after 39 Syriza rebels withheld their backing, agrees a painful mix of tax hikes, spending curbs and pension cuts as well as a rollback of collective bargaining agreements. In addition, 50 billion euros ($54.14 billion) in public assets are to be placed in a special privatization fund as collateral for loans of up to 86 billion euros that must be agreed with European partners. Acceptance of the tough bailout terms marked a turnaround for Tsipras after months of acrimonious talks and a referendum that resoundingly rejected a less stringent deal proposed by the lenders. But opinion polls suggest the prime minister's popularity remains high. A poll published on Saturday in the leftwing Efimerida Ton Syntaknon newspaper suggested Syriza would get 42.5 percent of the vote if an election were held now, almost double conservative New Democracy's 21.5 percent. In addition, 70 percent said they would prefer to accept the bailout deal if it kept Greece in the euro. ($1 = 0.9236 euros) (Writing by James Mackenzie; Editing by Tom Heneghan and Louise Heavens) Also on HuffPost: -- 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 Week Ahead: Dam the Torpedoes ....
Since the Spyder Trust (SPY) closed on July 3rd it has rallied 2.36% and has regained about 50% of the decline from the June 22nd high. The rally has been more relentless than I expected as I thought that it was likely to stall last week. The Spyder Trust (SPY) and the PowerShares QQQ Trust (QQQ) have exceeded the resistance levels that I outlined last week. The QQQ made new all time highs due in part to the strong performance of Google, Inc. (GOOG) which was up almost 15% on Friday. The rally in the small cap iShares Russell 2000 (IWM) is currently stalled at it's key resistance. Overall earnings were better than expected except in the energy sector. The continued decline in crude oil prices that was in line with the negative technical readings from the end of June. Even some disappointing economic reports did not deter the buyers who apparently decided they had sold too much because of concerns over Greece and the Chinese stock market.
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| READ THE ORIGINAL POST AT www.forbes.com |
Schaeuble says prepared to resign if hand forced in Greece talks
German Finance Minister Wolfgang Schaeuble is prepared to resign rather than go against his convictions in negotiations on Greece's debt crisis, he said in an interview published Saturday.
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| READ THE ORIGINAL POST AT uk.news.yahoo.com |
Greece's leftist government pledges privatization push; experts doubt 50B euro goal reachable
Work was supposed to begin next year on a 7 billion euros ($7.6 billion) waterfront urban renewal project almost twice the size of New York's Central Park that could have poured nearly a billion euros into Greece's depleted coffers.
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