In less than a year, Greece has gone from electing an anti-bailout firebrand to re-electing a pro-bailout incumbent.
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How the world sees Greece
Tuesday, September 22, 2015
Alexis Tsipras' second chance in Greece: Megan McArdle ...
THI’s 2015 Charitable Gala Promises to Be a Moving Experience
NEW YORK – The Hellenic Initiative (THI) will host is third annual charitable fundraising gala for Greece on September 30 in at World Trade Center 4. The special event space of the Ground Zero tower has a spectacular panoramic view of New York Bay Lower Manhattan and 600 people are expected to attend. “All […] The post THI’s 2015 Charitable Gala Promises to Be a Moving Experience appeared first on The National Herald.
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The Latest: Greece: 2 missing as migrant boat sinks at sea
… Turkey’s western border with Greece and Bulgaria, in Edirne, Turkey … onset of fall weather in Greece, with thunderstorms and torrential rain … kilometers (5 miles) from the Greek border. Hundreds of migrants have …
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| READ THE ORIGINAL POST AT world.einnews.com |
Quixotic GREEK anti-corruption crusader finally tastes success
As Alexis Tsipras cruised to victory in Greece's general election, the outcome must have tasted even sweeter for the man considered the “Don Quixote” ...
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
#WhiteGirlProblems: The Terror of 'Scream Queens' Draws From GREEK Life Reality
While American GREEK life has never had the most sparkling reputation, Martinson's email was a highlight in a now commonplace practice: a frat or ...
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| READ THE ORIGINAL POST AT grantland.com |
Arithmetic of Despair: Numbers from Europe's migrant crisis
BRUSSELS (AP) — Europe's migration crisis involves big figures, as men, women and children who in many cases are fleeing war and poverty in their own countries flood into Europe in great numbers not seen since World War II. The number of people thought to have fled conflict and poverty in the Middle East, Africa and Asia to seek sanctuary in the European Union so far this year. The number of such people who could be eligible for asylum or some form of international protection in Europe, according to the EU. The number of refugees arriving in Greece, Italy — and perhaps other European Union countries still to be specified — that EU interior ministers by majority vote decided Tuesday to distribute throughout the 28-nation bloc. The number of asylum applications Germany expects in 2015.
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Euro Working Group President Warns 3 Bln Euro Bailout Funds Tied to Reforms
Euro Working Group President Thomas Wieser has illuminated what Greece needs to do to receive additional funds from the bailout in the short term. During an interview with Bloomberg on Tuesday, Wieser stated that Greece’s new 86 billion euro bailout agreement, has already given the country 23 billion euros. The provision of an additional 3 billion euros hinge on
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After Tsipras’s re-election, Greece attempts to ‘return to ...
Newly re-elected Greek Prime Minister Alexis Tsipras’s cabinet was sworn in Tuesday, two days after the left-wing leader convincingly won a popular mandate to move ...
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European Union approves plan to relocate 120,000 migrants
Meanwhile, hundreds of migrants camped near the Turkish border with Greece in the hope that they will be allowed in.
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| READ THE ORIGINAL POST AT www.usatoday.com |
EU Approves Plan To Relocate Refugees Across Europe
BRUSSELS, Sept 22 (Reuters) - The European Union approved a plan on Tuesday to share out 120,000 refugees across its 28 states, overriding vehement opposition from four ex-communist eastern nations. Diplomats said interior ministers meeting in Brussels had voted to launch the scheme, backed by Germany and other big powers, in order to tackle the continent's worst refugee crisis since World War Two. The Czech minister tweeted that he had voted against, along with colleagues from Slovakia, Romania and Hungary, with Finland abstaining. Prague had earlier warned that any attempt to approve such a scheme would be unworkable and could end in "big ridicule" for governments and EU authorities. "We will soon realize that the emperor has no clothes. Common sense lost today," Czech Interior Minister Milan Chovanec tweeted after the vote. This year's influx of nearly half a million people fleeing war and poverty in the Middle East, Asia and Africa has plunged the EU into disputes over border controls and bitter recriminations over how to share out responsibility. Eastern states with no tradition of integrating large numbers of Muslims are anxious about the impact on their societies and keen to avoid any signal that might encourage even more desperate people to set sail across the Mediterranean for Europe. "If we fail to find the right solution in the long term, the migrant crisis could truly threaten the existence of the European Union. But I am not a pessimist, I believe that we will find joint measures," Slovenian Prime Minister Miro Cerar told Reuters in an interview. Ministers had hoped to achieve consensus at Tuesday's meeting rather than ramming through a vote in which the easterners would be in the minority, fearing this could further poison relations. "NOT ENOUGH" Hours earlier, the U.N. refugee agency, the UNHCR, said the 120,000 people the bloc was seeking to share out were equivalent to just 20 days' worth of arrivals at the current rate. "A relocation program alone, at this stage in the crisis, will not be enough to stabilize the situation," UNHCR spokeswoman Melissa Fleming said, urging the EU to set up reception facilities able to handle tens of thousands of refugees at a time. Refugees and migrants arriving in Greece and Italy have been streaming north across the continent to reach more affluent nations such as Germany, triggering disputes between governments in central and eastern Europe as they alternately try to block the flow or shunt the burden on to their neighbors. Norway became the latest member of Europe's 26-nation Schengen area, where people can normally travel across frontiers without showing a passport, to say it would intensify border controls. The Organisation for Economic Co-operation and Development said Europe could expect a record one million people to request asylum this year, and almost half would probably qualify to be taken in. In Germany, by far the most popular destination, the head of domestic intelligence said there was a big worry that radical Islamists living in the country could try to recruit young refugees "who could be easy prey." EU leaders will hold an emergency summit on Wednesday at which they want to focus on ramping up aid for Syrian refugees in Turkey and the rest of the Middle East and tightening control of the bloc's external frontiers. _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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4 stories show Greek hope of ‘return to sanity,’ after ...
Some Greek citizens, meanwhile, hope for a return to political and economic normalcy. In interviews with MarketWatch, many said their concerns have turned ...
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Soccer-Greek championship results and standings
Sept 22 (Infostrada Sports) - Results and standings from the Greek championship matches on Tuesday Tuesday, September 22 Panaitolikos Agrinion 1 Veria 1 Platanias 0 ...
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WVU GREEK community prepares for fall recruitment
"I believe the changes made (to West Virginia University's GREEK Life) had a great impact on the recent criticism and are really emphasizing on the true ...
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The GREEK election in maps
The GREEK election in maps. The new electoral map of Greece is similar to that from January's election but there are some interesting trends in how the ...
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| READ THE ORIGINAL POST AT www.theguardian.com |
Greece, The Epilogue
Greek socialism was a wonderful thing until it ran out of Germany's money. Six months ago, Mr. Varoufakis emerged on the international scene with a bang. He quickly ...
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EU Ministers Back Quota System For Migrants
European Union ministers have voted by a majority in favour of relocating 120,000 migrants and refugees across member states. The quota plan is aimed at taking the pressure off certain countries such as Germany - the final destination for many - as well as Italy and Greece where they first arrive. Four former communist nations - Czech Republic, Hungary, Romania and Slovakia - voted against the plan while Finland abstained, Czech interior minister Milan Chovanec said on Twitter.
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| READ THE ORIGINAL POST AT uk.news.yahoo.com |
GREEK community shows solidarity after UCLA student found dead at scene of fire
UCLA's GREEK community, including the Pi Beta Phi sorority the victim was a member of, showed solidarity at the "Bruin Bash" event. They all wore "Go ...
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Thomas Piketty Responds To Surprise GREEK Election Result
In the wake of a surprise re-election of Alexis Tsipras and Syriza, Thomas Piketty discusses the need for a more active approach from European ...
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| READ THE ORIGINAL POST AT www.socialeurope.eu |
Alexis Tsipras and the Big Fat GREEK Debt
NEW YORK (TheStreet) -- Greece's left-wing leader Alexis Tsipras won the snap election Greece held on Sunday, but his worries might have just ...
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Familiar Faces Likely to Dominate New GREEK Cabinet
ATHENS—Greece's newly appointed Prime Minister Alexis Tsipras will unveil his government's cabinet late on Tuesday. Top positions are expected to ...
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| READ THE ORIGINAL POST AT www.wsj.com |
German Chancellor Says Greece Cannot Cope Alone in Protecting its Border
German Chancellor Angela Merkel asserted that Turkey must assist Greece in protecting the European Union country’s borders. The United Nations Refugee Agency estimated on Sunday that more than 318,000 migrants and refugees have traveled to Greece since the beginning of 2015. Merkel, speaking during a joint press conference with Finnish Prime Minister Juha Sipila, expressed her conviction that despite
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Greek Football Team Wins 2015 Homeless World Cup
There were euphoric and emotional scenes in Amsterdam today when Greece beat Switzerland to lift the INSP Trophy at the Homeless World Cup. It was a poignant moment as three members of the team are vendors with the Greek street paper Shedia, which has close connections to the country’s street football programme. INSP is proud
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Greek Student Creates New Social App for Smartphones
Valentinos Tzekas, an 18-year-old Greek Student, is the founder of new social networking smartphone application, the Athens-Macedonian News Agency reports. The “Near” application, which has yet to be launched, will allow its users to connect with people who are within a 1.5 kilometre radius. In bigger cities the radius limit will be extended to 5 kilometres. “I created
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Theresa May maintains tough stance on 'economic migrants'
UK home secretary emphasises need for wider European measures to ‘return those people who have no right to be here’ The UK home secretary has called for Europe to “get on with the job” of breaking the link between “economic migrants” making the dangerous journey across the Mediterranean and settling in Europe. Arriving at the extraordinary European Union interior ministers refugee crisis meeting in Brussels on Tuesday, Theresa May confirmed that Britain would not be taking part in a further EU programme to relocate 120,000 refugees from Italy, Greece and Hungary. Interior ministers were hoping to find a way of settling the highly controversial distribution of the 120,000 across Europe during Tuesday’s meeting. Continue reading...
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The Latest: Greece coast guard rescues 1 of 2 people missing
BRUSSELS (AP) — The latest developments as European governments struggle to cope with the huge number of people moving across Europe. All times local:
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eNCA
… helm. Tsipras, who eventually signed Greece up to its third bailout … evening. New Democracy, which ruled Greece as a single-party government from … formed a coalition with socialist PASOK as its main partner. The …
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1,500 refugees sent from Edirne to other Turkish cities
Syrian refugees, who have waited over 10 days near Turkey’s border with Greece in an attempt to reach Europe, were sent back to different provinces in Turkey, the governor of the northwestern Edirne province said
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| READ THE ORIGINAL POST AT www.hurriyetdailynews.com |
Greek debt crisis: Greece’s banks could still tip the ...
The only sure way to avoid this outcome is to provide support for the Greek banks on a truly massive scale, and lift the capital controls. The ECB must be prepared to ...
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| READ THE ORIGINAL POST AT www.cityam.com |
The Latest: Romania question 5 in migrant smuggling case
Romanian police have questioned five men suspected of being part of an illegal people trafficking ring which smuggled people from the border with Moldova to Romania's western border with Hungary. The head of Germany's domestic intelligence agency says he is concerned Islamic extremists already in the country might succeed in recruiting newly-arrived refugees to their cause, but he has seen no evidence that extremist groups are attempting to infiltrate Europe by hiding among the wave of newcomers. Koenders says the European Union, whose leaders are meeting Wednesday in Brussels to try to hammer out a united front in tackling the migrant crisis, should talk to the Lebanese authorities, "because that country knows not only the problems but also the region." The chairman of the European Union's emergency migration talks is optimistic that a deal will be sealed later in the day to share 120,000 refugees in Greece, Italy and perhaps Hungary among other EU countries. German Chancellor Angela Merkel says Europe can only get a long-term grip on the refugee crisis by tackling what is causing people to flee other nations — not by building fences. Merkel said the European Union needs to send "signals of order" in the crisis, for example by working with Turkey to secure its external border, but it's also necessary to address broader issues such as the aid shortfall that is prompting Syrians to leave surrounding countries. Merkel said after meeting her Finnish counterpart: "We are learning in this refugee situation that we are all connected to each other and our lives are affected if terrible things happen elsewhere." The crisis has strained diplomatic relations in the region, which has become a transit route for migrants bound for Western Europe. About 100 men, women and children found dry spaces in the Victoria Square metro station Tuesday, while another roughly 400 people, mostly Afghans, remained in the square, huddling in tents or using rubbish bin liners and plastic bags to keep off the worst of the rain. Hungary's foreign minister says political relations with fellow European Union neighbor Croatia are at a "freezing point" and may improve only after parliamentary elections there expected by the end of the year. Szijjarto says while Hungary had done everything possible to register 230,000 migrants this year, it had failed in some cases because of the aggressive behavior of some migrants and EU rules making it hard to enforce registration. Norway's Justice Minister has asked the country's police to "intensify" border controls to "prevent illegal immigration and combat organized crime." In recent weeks, some 2,000 people have sought asylum in Norway which is not an European Union member, but is part of the Schengen agreement allowing travel without internal border checks in Europe. Denmark's intelligence agency doesn't believe Islamic radicals are trying to use the migration flow and Europe's passport-free Schengen travel zone to smuggle "terrorists" into the West. Serbia's prime minister has given the European Union a deadline to persuade Croatia to resume all cargo traffic that was halted after a surge of migrants over their mutual border or he says that Belgrade will respond with unspecified retaliatory measures. Czech Interior Minister Milan Chovanec, who has disputed the legality of the quota system, said at a Prague airport before leaving for Brussels that "it's an empty political gesture." A resolution approved by legislators from Prime Minister Viktor Orban's Fidesz party and its Christian Democrat allies, says Hungary "cannot allow illegal migrants to endanger the workplaces and social security of the Hungarian people." The lawmakers said it was irresponsible for European politicians to encourage migrants to risk death for a better life in Europe and called on EU leaders to "return to the road of common sense" and protect Europe and it citizens. Norway's foreign minister warns that the refugee crisis will continue and could get worse if no political solution is found to end Syria's civil war. Borge Brende told reporters after meeting his Lebanese counterpart Gibran Bassil in Beirut that Norway has an agreement with the U.N. refugee agency to receive "a substantial amount of refugees in the three coming years — in fact 7 percent of all the refugees that the UNHCR has asked for." The Organization for Economic Cooperation and Development warned in a report that record numbers of migrant arrivals in Europe are an "emergency situation" and there is "little hope" that it will ease soon. The OECD called on its 34 member countries, which include the U.S. and most of Europe, to "constantly" adjust immigration policies to take into account shifts such as war in Syria and political collapse in Libya, which have driven many people to seek refuge in Europe. The group recommends language and other training, and access to health care for migrants to improve their economic contribution. The U.N. refugee agency is calling on the European Union to agree this week to take in another 120,000 migrants "for any relocation program to be credible." Croatia set up a migrant reception operation to try to bring order to the unrelenting chaos that has gripped the country since Sept. 15, when Hungary closed its border with Serbia.
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Varoufakis to Renzi: You Bullied Tsipras But You Didn’t Get Rid of Me
Greece’s former finance minister Yanis Varoufakis replied to criticism he received from Italy’s Prime Minister Matteo Renzi, claiming Europe’s leaders ‘bullied’ Alexis Tsipras into agreeing to the final terms of the bailout. Varoufakis wrote an open letter on his blog to Renzi claiming that the Greek Prime Minister was blackmailed and bullied by European leaders
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Syrian Twin Babies Arrive Safely at Lesvos
Amid the recurring phenomena of shipwrecks and rescue operations in the Aegean Sea, a different story has emerged in Lesvos. A Syrian couple making the long a journey from Syria into Europe, took with them their eight month-old twin children. According to Greek and foreign media reports and pictures that have surfaced, the family arrived safely at
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Disneyland Paris to Recruit in Greece in November
Greeks could soon be part of globally renowned amusement park and resort, Disneyland Paris. Disneyland Paris representatives will be coming to Athens on November 3rd and 4th to recruit people for various employment positions. Various departments are looking for staff and available positions include commis chefs, waiters and waitresses, attraction hosts and hostesses, guest relations, ticket hosts and
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Alex Tsipras becomes GREEK leader for second time
ATHENS — Alex Tsipras was sworn in as Greece's prime minister Monday, a day after the 41-year-old left-wing leader won the job for the second time ...
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Saying Bye to Being GREEK
Each year a small population of members within the GREEK community disaffiliate from their organizations because the time commitments and financial ...
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| READ THE ORIGINAL POST AT udreview.com |
Syriza sources say Tsakalotos will be finance minister in GREEK cabinet
Euclid Tsakalotos is to be reappointed as GREEK finance minister in Alexis Tsipras's new cabinet, a senior source in the leftist Syriza party said on ...
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Greece is likely to achieve this through extended grace ...
Legal disclaimer and risk disclosure Foreign exchange transactions carry a high degree of risk and any transaction involving currencies is exposed to ...
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Constantopoulou Calls Debt Meeting
ATHENS – In her last few days as Parliament Speaker, former SYRIZA lawmaker Zoe Constantopoulou reconvened a special committee examining Greece’s debt. Constantopoulou will serve until Prime Minister and SYRIZA leader Alexis Tsipras, who she characterized as a traitor to the left for reneging on anti-austerity promises, picks a replacement as he names a new […] The post Constantopoulou Calls Debt Meeting appeared first on The National Herald.
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Parliament speaker summons Varoufakis to testify on Greece’s debt
#politics
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| READ THE ORIGINAL POST AT en.enikos.gr |
Aegean Airlines: A Greek Airline Benefits From The Greek Tourism Pick Up
… of public aviation transportation in Greece and abroad, conducting scheduled and … the growth of the Greek tourist sector. Greece is one of the … given that macroeconomic conditions in Greece do not seem to influence …
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| READ THE ORIGINAL POST AT world.einnews.com |
Now for the Real Test of Tsipras's Political Clout in Greece
Alexis Tsipras and his new government. The latest administration in Athens will have to immediately begin implementing a wide slate of politically toxic austerity ...
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| READ THE ORIGINAL POST AT www.bloomberg.com |
Substitute these unhealthy breakfast foods with 6 more 'complete' options
The phrase "part of a complete breakfast" is plastered onto cereal boxes and spoken at the ends of commercials, but few of us know exactly what it means. Turns out, starting your day with a nutritious and hearty meal is surprisingly simple: ALL YOU NEED FOR A COMPLETE BREAKFAST ARE CARBOHYDRATES AND PROTEINS. Your body breaks carbs down into sugars, which fuel your brain, and proteins keep you satiated until lunch time. Many companies that market breakfast foods claim that their products contain at least parts of this golden ratio, but processed foods like sugary cereals usually contain "bad" carbs, such as simple sugars, which are quickly converted to fat rather than energy. HERE ARE A FEW COMMON BREAKFAST FOODS YOU SHOULD DITCH FOR SOME HEALTHIER, MORE COMPLETE ALTERNATIVES. FOR SOMETHING SUGARY: Instead of a donut, eat STEEL CUT OATS WITH PEANUT BUTTER. Many cereals are loaded with sugars and processed flours. Steel cut oats contain about 5 grams of protein, zero sugar, and are low in saturated fats and high in fiber. The peanut butter adds an extra shot of satiating protein, healthy fats, and a sweet kick without the sugar blast of a donut. FOR SOMETHING TOASTY: Ditch a plain bagel and cream cheese for whole grain toast WITH AVOCADO, SMOKED SALMON, AND A POACHED EGG. You're technically getting carbohydrates from the bagel and protein from the cheese, but plain bagels contain refined white flour and simple carbs, which provide a quick burst of energy to your brain that quickly fades. The complex carbs in the toast take longer for your body to process, leaving you satiated for longer. The smoked fish, avocado, and eggs are packed with good lean protein and heart-and-brain-healthy omega-3 fatty acids. FOR SOMETHING CREAMY: Instead of flavored yogurt, eat PLAIN WHOLE MILK GREEK YOGURT WITH BERRIES, NUTS, AND CINNAMON. Flavored yogurt cups are chock full of sugars. Just one serving of Yoplait Whips! Raspberry Mouse yogurt contains 21 grams of sugar — 84% of the maximum daily recommended sugar intake for women — and only 5 g of protein. Substitute with plain Greek yogurt, which packs in 17 g of protein and only 6 g of sugars. If it's too bitter, sweeten with antioxidant and fiber-rich berries, protein-rich nuts, and cinnamon. See the rest of the story at Business Insider NOW WATCH: This exciting 60s spy movie puts the CIA and KGB together in the same mission
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Tsipras to back Greek bailout with Tsakalotos as finance minister
ATHENS (Reuters) - Greek Prime Minister Alexis Tsipras will reappoint Euclid Tsakalotos as finance minister, a senior source in his leftist Syriza party said on Tuesday, to offer continuity in bailout talks with international lenders.
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The Latest: Rain hits Greece, migrants scramble to stay dry
The sudden onset of fall weather in Greece, with thunderstorms and torrential rain over the past two days, has sent hundreds of migrants who had been camping out in a downtown Athens square scrambling for shelter. About 100 men, women and children found dry spaces in the Victoria Square metro station Tuesday, while another roughly 400 people, mostly Afghans, remained in the square, huddling in tents or using rubbish bin liners and plastic bags to keep off the worst of the rain. Hungary's foreign minister says political relations with fellow European Union neighbor Croatia are at a "freezing point" and may improve only after parliamentary elections there expected by the end of the year. Szijjarto says while Hungary had done everything possible to register 230,000 migrants this year, it had failed in some cases because of the aggressive behavior of some migrants and EU rules making it hard to enforce registration. Norway's Justice Minister has asked the country's police to "intensify" border controls to "prevent illegal immigration and combat organized crime." In recent weeks, some 2,000 people have sought asylum in Norway which is not an European Union member, but is part of the Schengen agreement allowing travel without internal border checks in Europe. Denmark's intelligence agency doesn't believe Islamic radicals are trying to use the migration flow and Europe's passport-free Schengen travel zone to smuggle "terrorists" into the West. Serbia's prime minister has given the European Union a deadline to persuade Croatia to resume all cargo traffic that was halted after a surge of migrants over their mutual border or he says that Belgrade will respond with unspecified retaliatory measures. Interior ministers from the 28-member EU will try to resolve the dispute on the emergency relocation of 120,000 asylum-seekers at a meeting Tuesday in Brussels. Czech Interior Minister Milan Chovanec, who has disputed the legality of the quota system, said at a Prague airport before leaving for Brussels that "it's an empty political gesture." A resolution approved by legislators from Prime Minister Viktor Orban's Fidesz party and its Christian Democrat allies, says Hungary "cannot allow illegal migrants to endanger the workplaces and social security of the Hungarian people." The lawmakers said it was irresponsible for European politicians to encourage migrants to risk death for a better life in Europe and called on EU leaders to "return to the road of common sense" and protect Europe and it citizens. Norway's foreign minister warns that the refugee crisis will continue and could get worse if no political solution is found to end Syria's civil war. Borge Brende told reporters after meeting his Lebanese counterpart Gibran Bassil in Beirut that Norway has an agreement with the U.N. refugee agency to receive "a substantial amount of refugees in the three coming years — in fact 7 percent of all the refugees that the UNHCR has asked for." The OECD called on its 34 member countries, which include the U.S. and most of Europe, to "constantly" adjust immigration policies to take into account shifts such as war in Syria and political collapse in Libya, which have driven many people to seek refuge in Europe.
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| READ THE ORIGINAL POST AT www.sfgate.com |
Greek conservatives to pick new leader after shock defeat
By Angeliki Koutantou and John Stonestreet ATHENS (Reuters) - The leader of Greece's conservatives signalled on Tuesday he would step down as the party seeks to recover from the shock of a heavy election defeat that pollsters failed to predict. New Democracy said it would hold a leadership election as soon as possible after losing to the leftist Syriza party. Vangelis Meimarakis, who shepherded the party through Sunday's ballot, said he was unlikely to stand.
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| READ THE ORIGINAL POST AT uk.news.yahoo.com |
Greece’s Conservative New Democracy to Elect New Leader
Greece’s conservative party New Democracy is expected to elect a new leader by the end of October in the aftermath of the election loss to leftist SYRIZA. Incumbent party chief Vangelis Meimarakis announced on Monday that it is time to start the race for a new president. Meimarakis was vice president to Antonis Samaras and
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
PM Tsipras on collision course with GREEK creditors
Syriza leader Alexis Tsipras put his new government on a possible collision course with Greece's creditors by signalling right after Sunday's snap ...
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PROFILE-GREEK Prime Minister Alexis Tsipras
Tsipras has transformed an obscure, far-left fringe party into the strongest force in GREEK politics today, propelled largely by a wave of anti-austerity ...
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| READ THE ORIGINAL POST AT www.reuters.com |
Tsipras readies cabinet, urges EU aid for migrants after vote win
Newly re-elected Prime Minister Alexis Tsipras worked Tuesday on the makeup of a coalition cabinet to steer unpopular economic reforms as he urged Europe's help with the thousands of migrants landing daily on Greek shores.
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Tsipras Sworn In as Premier, Readies Coalition Cabinet
Eight months after he won general elections, SYRIZA leader Alexis Tsipras was sworn in as Prime Minister again after topping a snap poll he called to rid his party of anti-austerity rebels and was preparing a Cabinet with his former partner, the far right-wing Independent Greeks (ANEL). The post Tsipras Sworn In as Premier, Readies Coalition Cabinet appeared first on The National Herald.
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Volkswagen admits emissions scandal could affect 11m vehicles
German automaker is setting aside €6.5bn to cover costs of investigation into how software was used to cheat emissions tests * VW: 11m cars effected worldwide * Volkwagen issues profits warning * Shares slump again * Campaign group: Regulators need to get tough * Full story: US chief says carmaker ‘totally screwed up’ * Q&A: Volkswagen scandal explained 12.13pm BST VOLKSWAGEN HAS REVEALED FOR THE FIRST TIME TODAY THAT 11 MILLION VEHICLES WERE FITTED WITH SOFTWARE THAT TRICKED REGULATORS INTO UNDER-RECORDING NOXIOUS EMISSIONS. Before today, VW has admitted to fitting half a million diesel cars with the code -- something the FT called a ‘monumental blunder’. Further internal investigations conducted to date have established that the relevant engine management software is also installed in other Volkswagen Group vehicles with diesel engines. For the majority of these engines the software does not have any effect. Discrepancies relate to vehicles with Type EA 189 engines, involving some eleven million vehicles worldwide. A noticeable deviation between bench test results and actual road use was established solely for this type of engine. Volkswagen is working intensely to eliminate these deviations through technical measures. 12.02pm BST THE ECONOMIST ARGUES THAT VOLKSWAGEN WAS ALREADY STRUGGLING, BEFORE BEING SHUNTED BY THE REVELATIONS SURROUNDING EMISSION TESTS. Investors have also been spooked by its other problems, which the latest scandal have made worse, it says: VW has been aiming to build more than 10m cars a year, in order to take advantage of the big economies of scale that exist in the industry. But its efforts to grow appear to have faltered. Its market share in America—which at 2.2% last year is less than Subaru’s—is now shrinking, along with its turnover in China. Even the sales it is making are not particularly profitable. Why Volkswagen's share price has fallen by another 23% this morning http://t.co/LikeAtUZBm pic.twitter.com/RxnOSSmaEb 11.58am BST A string of commentators are suggesting that the emissions scandal could be the auto equivalent of the interest rate-fixing perpetrated by the banking sector. .@OlafStorbeck "This has the potential to be the Automotive industry's #Libor" #Volkswagen VW emissions test crisis could end up as the car industry's LIBOR scandal. Expect this one to run and run. Tesla must be pleased? 11.47am BST The cost of insuring Volkswagen’s corporate debt against default has jumped this today. That indicates concerns that the scandal could cause extremely serious damage: Left left hard left formation, VW CDS. http://t.co/bMPa55PXq3 pic.twitter.com/3HzlcKJZZ9 11.45am BST THE SOCIETY OF MOTOR MANUFACTURERS AND TRADERS (SMMT) HAS INSISTED THERE WAS NO EVIDENCE THAT MANUFACTURERS IN THE UK ATTEMPT TO MISLEAD EMISSION TESTERS. The trade association’s chief executive, Mike Hawes, said (via PA). The EU operates a fundamentally different system to the US - with all European tests performed in strict conditions as required by EU law and witnessed by a government-appointed independent approval agency. “There is no evidence that manufacturers cheat the cycle. Vehicles are removed from the production line randomly and must be standard production models, certified by the relevant authority - the UK body being the Vehicle Certification Agency, which is responsible to the Department for Transport. 11.40am BST 11.35am BST BY MY RECKONING, AROUND €28BN HAS BEEN WIPED OFF THE VALUE OF VOLKSWAGEN THIS WEEK. Shares were trading at €162 each on Friday afternoon, valuing the company at €78.5bn. 11.31am BST CAMPAIGN GROUP TRANSPORT & ENVIRONMENT (T&E) HAS WARNED THAT MILLIONS OF DIESEL CARS COULD BE RECALLED, IF THE PRACTICE OF FIDDLING EMISSION TESTS IS WIDESPREAD. T&E’s diesel expert Jos Dings has called for EU regulators to “take their job seriously”, and examine if cars on the road are pumping out more harmful emissions than is tolerable. All the evidence points to exactly the same thing going on in Europe and potentially even worse. “Diesel cars in Europe operate with worse technology on average than the US. 11.23am BST THE ESCALATING CRISIS AT VOLKSWAGEN IS SENDING SHIVERS THROUGH THE FRANKFURT STOCK MARKET, WHERE THE DAX INDEX HAS LOST 2.7%. The scandal risks denting the reputation of Germany’s manufacturing sector, warns political writer Andrew Lilico. This VW thing cld damage the whole German manufacturing brand. It's potentially a kind of DasLIBOR. 11.17am BST LIBERAL DEMOCRAT MEP CATHERINE BEARDER has warned that European regulators are failing to enforce emission standards. BEARDER says: “Manufacturers in the US have been caught out, but we know that pollution limits are also being breached in Europe. “We need to tighten EU emission standards and make sure they are properly enforced. Unless we take action, thousands of lives will continue to be tragically cut short by air pollution.” 11.12am BST VOLKSWAGEN HAS ALSO REVEALED THAT AROUND 11 MILLION DIESEL VEHICLES WORLDWIDE WERE FITTED WITH THE SOFTWARE AT THE CENTRE OF THE US EMISSIONS SCANDAL. It also pledged to work “intensely to eliminate these deviations through technical measures.” 11.02am BST Wow. VW shares have crashed by another 20% today, as traders digest this profits warning. An iconic German brand: -20.1% pic.twitter.com/SJKAvN6njD 10.55am BST BREAKING NEWS: VOLKSWAGEN HAS JUST ANNOUNCED THAT IT WILL SET ASIDE €6.5BN TO COVER THE COSTS OF THE INVESTIGATION INTO HOW ITS DIESEL CARS CHEATED EMISSION TESTS, SENDING ITS SHARES SLUMPING. The move will make a significant hit in its earnings this quarter, as the German carmaker wrestles with the impact of the scandal. BREAKING: #Volkswagen sets aside €6.5 billion ($7.3 billion) to pay for emissions crisis http://t.co/PlNPWciAZV #Volkswagen shares down by almost 10% as company to set aside €6.5bn provision in 3Q for Diesel remedies. pic.twitter.com/XcS2UFbHFN 10.35am BST Over in Greece, state run TV has just announced that prime minister Alexis Tsipras’ new cabinet will be sworn in Wednesday morning, _our correspondent Helena Smith reports_. 10.33am BST Being Greece’s finance minister is one of the roughest jobs in European politics, so we can’t blame Euclid Tsakalotos if he turns it down.... No wonder Tsakalotos is reluctant. He probaly lost 10 yrs of his life trying to close deal for #Greece http://t.co/5wsHkc2iAg via @ReutersUK 10.30am BST GREEK MEDIA ARE REPORTING THAT EUCLID TSAKALOTOS, IS RELUCTANT TO BECOME FINANCE MINISTER AGAIN. If Tsakalotos was not appointed finance minister he could still lead negotiations with the eurozone, which has agreed an €86bn ($96 billion) bailout with Greece in exchange for deep economic reforms. Tsipras’s alternative would be Giorgos Houliarakis, who has been finance minister in the caretaker government put in place during Greece’s election campaign. 10.28am BST Britain’s slow progress reducing its budget deficit means the UK is vulnerable to economic shocks, warns ROSS CAMPBELL, ICAEW Director for Public Sector Policy. Here’s his take on today’s figures: Sorting our public finances depends on robust tax receipts, so it is disappointing to see corporation and income tax revenues decrease. The weakening global economy could also have a significant impact on tax receipts in the coming months, which would only make the situation worse. 10.12am BST 10.11am BST BACK IN THE EUROZONE, ITALY’S PRIME MINISTER FINANCE MINISTER HAS WADED INTO UK POLITICA WITH AN ATTACK ON LABOUR’S LEADER, JEREMY CORBYN. Matteo Renzi has been dubbed Italy’s Tony Blair. And he probably spoke for the former PM when he told lawmakers that the MP for Islington North wasn’t a winner. “After what happened with Corbyn, I think [David] Cameron is the happiest of all about Corbyn’s win.... “It’s not a question of being Blairite or anti-Blairite, it’s a matter of ‘Do you want to go to elections like you go to the Olympics, to win or to participate’?” Related: Corbyn election shows Labour's delight in losing, says Italian PM So, @yanisvaroufakis is baaaack. And he has a message for @matteorenzi http://t.co/jYWMx6dVdk pic.twitter.com/XjmD2TBGA0 10.03am BST Today’s public finance figures also show that Britain is heading towards a deficit of around £70bn this year. Borrowing illustrated pic.twitter.com/fQDy89Z8WV 9.53am BST BRITAIN HAD TO BORROW £12BN TO BALANCE THE BOOKS IN AUGUST, AROUND £3BN MORE THAN EXPECTED. BUT IT’S NOT A REASON TO PANIC. This is the largest monthly deficit since August 2012, due to unusually weak income tax receipts. According to the ONS, more people paid income tax bills in July, so last month suffered a shortfall. So whilst the year so far has been better for UK borrowing and PSBR the figures for August are disappointing #GBP #Austerity 9.37am BST FRANCE’S FINANCE MINISTER HAS CALLED FOR A “EUROPE-WIDE” PROBE TO ADDRESS THE REVELATIONS THAT VOLKSWAGEN EVADED US POLLUTION TESTS. Michel Sapin told French radio that in order to “reassure” the public, it seemed “necessary” to carry out checks on cars manufactured by other European carmakers. “We are in a European market, with European rules that need to be respected,” Sapin told _Europe 1_ radio. 9.34am BST The FTSE 100 index of blue-chip shares has now shed 111 points, as the selloff picks up. #FTSE below 6000 for the first time in three weeks. TM pic.twitter.com/XMO5xCyZbH Price gouging like this in the specialty drug market is outrageous. Tomorrow I'll lay out a plan to take it on. -H https://t.co/9Z0Aw7aI6h 9.28am BST OVER IN FRANKFURT, VW’S SHARE PRICE HAS NOW LOST ALMOST 5%. Other car makers are also leading the DAX fallers, as the revelations that emissions data have been falsified continue to rock the sector. News that South Korea, as well as the US, would be investigating the company’s diesel cars took the stock over 4% lower (and counting) immediately after the bell, pushing VW to a further 3 year low (and continuing to have a nasty knock on effect for majority shareholder Porsche and the rest of the auto-sector). 9.15am BST A SELLOFF IN THE MINING SECTOR IS HELPING TO PULL EUROPE’S STOCK MARKETS DOWN THIS MORNING. The FTSE 100 is leading the selloff, down 1%. *COAL DROPS BELOW $50 FOR FIRST TIME IN EUROPE AS GLUT PERSISTS pic.twitter.com/0dcaWIbdsj 8.57am BST Our Q&A explains why the Volkswagen emissions scandal is so serious, and what might happen next: Related: VW scandal: what the emissions revelations mean 8.37am BST VOLKSWAGEN SHARES ARE SLIDING AGAIN, DOWN 3.4% IN EARLY TRADING AFTER SLUMPING BY A FIFTH ON MONDAY. The selloff comes after the German automaker’s US chief executive admitted the company has “totally screwed up” over the emissions scandal that has rocked the automotive industry. Related: Volkswagen scandal: US chief says carmaker 'totally screwed up' 8.21am BST GEORGE OSBORNE IS NOW FIELDING QUESTIONS ABOUT HIS TRIP TO CHINA, ON RADIO 4’S TODAY PROGRAMME. He’s defending his decision to build closer ties with Beijing. Osborne defends govt engaging with China despite worries over human rights 8.13am BST GEORGE OSBORNE’S calming words went down well with Chinese traders. The Shanghai index just closed, up almost 1%. After @George_Osborne started talking here, the Shanghai stock exchange hit a new intraday high. Just saying pic.twitter.com/rJj04RGTzZ 8.09am BST UK CHANCELLOR GEORGE OSBORNE HAS CALLED FOR BRITAIN AND CHINA TO BUILD A GOLDEN DECADE TOGETHER. And he used a trip to China’s main stock market to do it. “I very deliberately chose to come here, to the Shanghai Stock Exchange, to the epicentre of the volatility in financial markets this summer, to say this: “Whatever the headlines, regardless of the challenges, we shouldn’t be running away from China.” “Let’s stick together and make Britain China’s best partner in the West. Let’s stick together and create a golden decade for both of our countries.” .@George_Osborne speaking to a huge audience here in Shanghai pic.twitter.com/V2xMmpN9bL 8.01am BST ALEXIS TSIPRAS WILL KEEP SOME FAMILIAR FACES IN THE TOP JOBS IN HIS CABINET, PREDICTS THE GREEK NEWSPAPER KATHIMERINI. But he may also create some new roles, to help implement the measures he signed up to this summer. It is expected that EUCLID TSAKALOTOS will continue as finance minister and that GIORGOS STATHAKIS will also keep his role at the Economy Ministry. However, Tsipras is said to want to create a position at the level of deputy minister that will carry the responsibility for coordinating the government’s actions in relation to the demands of the third bailout. It is expected that caretaker finance minister GIORGOS HOULIARAKIS, who also led Greece’s negotiating team in Brussels over recent months, will take on this role. 7.52am BST GOOD MORNING, AND WELCOME TO OUR ROLLING COVERAGE OF THE WORLD ECONOMY, THE FINANCIAL MARKETS, THE EUROZONE AND BUSINESS. Having been sworn in as prime minister last night, Alexis Tsipras will be getting to work this morning creating a new cabinet. His eurozone allies are watching closely, to see if the left-winger can now deliver the challenging programme of tax rises and reforms demanded by lenders. Tsipras must now implement a fiscal consolidation and reform programme that was designed to fail. Illiquid small businesses, with no access to capital markets, have to now pre-pay next year’s tax on their projected 2016 profits. Households will need to fork out outrageous property taxes on non-performing apartments and shops, which they can’t even sell. VAT rate hikes will boost VAT evasion. Related: The lenders are the real winners in Greece – Alexis Tsipras has been set up to fail | Yanis Varoufakis .@George_Osborne backs China's ambition to be an IMF reserve currency Euro markets have just opened: $FTSE 6121 up 12 $DAX 9990 up 41 $CAC 4595 up 9 $IBEX 9879 up 23 $MIB 21784 up 28 Continue reading...
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