How the world sees Greece
This one, set on the Greek island of Naxos, was the first one filmed for this season (episodes are frequently shown out of sequence). The idea going in was quite simple: I go to a really nice, laid-back Greek island -- one with an actual local culture ...
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Greek anarchists hurled fire bombs, chairs and wooden planks at riot police in brief clashes outside parliament while politicians were debating a controversial austerity bill, disrupting a much larger peaceful rally on Sunday. How closely have you been ...
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Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit ...
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This is possible since GREECE'S funding needs are manageable until 2023 because of the concessional terms of EU loans, interest deferrals and long ...
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[magnifying glass] That was a disappointment. Last week was a busy one for the US economy, and it was capped with the April jobs report, which was a bit of a downer. In April, the US economy added 160,000 jobs, less than forecast. The unemployment rate held at 5% and the labor force participation rate also fell. The main takeaway is that this report makes a June interest rate increase from the Federal Reserve highly unlikely. We did see auto sales bounce back in April, though the latest manufacturing reading from the Institute from Supply Management missed expectations. All in, we had about what we've expected to get from the US economy in recent months: nothing great, nothing terrible. The focus this week? The US consumer. "Following last week’s April employment report, the financial markets will be keenly interested to see how the primary driver of the current U.S. economic expansion, the American consumer, is performing at the start of the second quarter," writes Wells Fargo's Sam Bullard. TOP STORIES * THE JOBS REPORT WAS A DISAPPOINTMENT. Or was it? In April, the US economy added 160,000 jobs while the unemployment rate held at 5%. Expectations were for job gains of 200,000 with an unemployment rate falling to 4.9%. So, a miss relative to expectations. Following this report Barclays, Bank of America, and Goldman Sachs each pushed back their calls for the next move from the Fed. But as we argued on Friday, as the US labor market reaches full employment, headline job gains will have to stop coming in north of 200,000 jobs each month. There is simply only so much more work to go around. Additionally, Friday's report showed that wage growth is moving up nicely, rising 2.5% over the prior year in April and matching the fastest pace since the end of the recession (which was also seen in January and February). And while it would be right to note that these are not robust wage growth figures — and, as such, unlikely to put much upward pressure on consumer prices — it has simply not been that kind of recovery. * THE "SMART MONEY" IS NERVOUS. This week, the annual Sohn Investing Conference was held in New York. As usual, the event featured commentary from some of the world's top hedge fund managers including Stanley Druckenmiller, Jeffrey Gundlach, and David Einhorn. And overall, the tone was bearish. Bob Bryan, our eyes and ears on the ground for the presentation, writes: "Druckenmiller decried central bank's 'myopia' of low interest rates and said it is fueling a debt bubble at the corporate and government level. He then said the bull market is 'exhausting itself' and that investors should go 'significantly overweight' one safe asset: gold. Gundlach took a hatchet to nearly everything in his presentation. He called negative interest rates an 'optical illusion,' said the Fed's desire to raise rates makes no sense and is hurting growth, and went after every major presidential candidate (regardless of whether they are still in the race) for their poor policies. Both Druckenmiller and Gundlach's presentations focused on the mismanagement of large, influential organizations — whether it be the Fed, the US government or the Chinese government. These mistakes have allowed companies and investors to give into their worst impulses, thus distorting the world economy and putting it in peril." Uplifting stuff. Of course, the alternative is that "smart money" is paid _to be nervous_. They are, after all, _hedge_ funds. Read more here. ECONOMIC CALENDAR * Small Business Optimism (Tues.): The latest report on small business optimism from the National Federal for Independent Business is set for release Tuesday morning. The index is expected to hit a reading of 93.1, up from the prior month's reading for 92.6. * Job Openings and Labor Turnover Survey (Tues.): The latest JOLTS — or Job Openings and Labor Turnover Survey — report is set for release on Tuesday morning. This report is expected to show there were 5.4 million jobs open in March, down from the 5.445 million jobs that were available in February. More closely watched in this report will be the number of Americans that quit jobs during the month, as quits are seen as a sign of increasing confidence among workers in the labor market. * Initial Jobless Claims (Thurs.): Initial filings for unemployment insurance are expected to total 270,000 this week, down slightly from last week's 274,000 figure but still indicating broad strength in the labor market. This measure hasn't risen above 300,000 in well over a year, the longest streak since 1973. * Import Prices (Thurs.): April's import price index, due out Thursday morning, is expected to rise 0.6% over the prior month but still be down 5.3% compared to the prior year. In a note to clients this weekend, Barclays economists wrote, "We forecast import prices to have risen 0.8% m/m in April, with a 0.3% m/m rise in non-petroleum import prices boosted by higher prices for import petroleum products. We expect the past three months of depreciation in the trade-weighted dollar to begin to have an effect on core import prices this month." * Retail Sales (Fri.): The April report on retail sales should show a 0.8% month-on-month increase, a rebound from March's disappointing 0.3% decline. "We look for a robust April retail sales report, with solid expected readings across core categories likely boosted by higher gasoline prices and the bounce back in motor vehicle sales," Barclays wrote in a note to clients ahead of the report. "Manufacturers reported that the March slowdown in light weight vehicle sales was reversed this month, and we look for the corresponding retail category to show solid gains. Elsewhere, we expect restaurant sales to rebound and another healthy showing from building materials stores." * Producer Price Index (Fri.): The April report on producer prices is expected to show prices rose 0.3% in April after a 0.1% decline in March. "Core" PPI, which excludes the more volatile costs of food and gas, should rise 0.1% over last month and 0.9% over last year. * University of Michigan Consumer Confidence (Fri.): The preliminary reading on consumer confidence in May from the University of Michigan should hit 89.5, slightly better than the disappointing 89.0 reading that capped April. MARKET COMMENTARY Earnings season is basically over, and it was a weird one. Depending. With 87% of the S&P 500 having reported earnings, profits fell 7.1% during the quarter against last year, less than the 8.7% decline that was forecast but still the worst year-on-year decline since the third quarter of 2009. That quarter, you'll recall, was just as the US was about to come out of recession. Things were grim. On the revenue side, sales declined for the fifth straight quarter, falling 1.6%. Expectations were for sales to fall 1%. Sales growth is not expected to return to the S&P 500, in aggregate, until the third quarter of this year. But as FactSet's John Butters notes, 71% of companies reporting actually beat expectations, above the five-year average. So the number of companies "beating expectations" was higher than normal. And the stock market, we'll note, is forward-looking: markets don't care so much what is happening now as whether things will get better or worse from here. So on the one hand, predictions that this was going to be a terrible quarter for corporate America were right. It was. On the other hand, for many companies, at least on the bottom line, it wasn't as bad as expected. These bottom-line beats, of course, have their own issues. Always something. SEE ALSO: SOMETHING IS HAPPENING IN CHINA THAT ECHOES EVERY FINANCIAL CRISIS OF THE LAST GENERATION Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
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Police and protesters clashed outside the GREEK parliament on Sunday night before a crucial vote on further gruelling austerity measures. Rioters ...
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| READ THE ORIGINAL POST AT www.theguardian.com |
GREEK riot police fired tear gas to disperse petrol bomb-throwing protesters in Athens on Sunday as thousands took to the streets in anti-austerity ...
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Athens's completion of the agreement with the country's creditors and the bailout review will constitute a major and decisive step toward Greece exiting ...
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Demonstrations in Athens have highlighted the opposition to the Greek government's controversial austerity bill. One peaceful rally continued as two groups of anarchists clashed with police.
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21-year-old Latvian driver Ralfs Sirmacis, secured a sensational win at the SEAJETS Acropolis Rally of Greece held at the dirt tracks of Lamia for the first time since 2005. The victory marks the young driver’s debut at the top level of the FIA European Rally Championships (ERC). Sirmacis had led the rally after winning the
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Surviving as a vegetarian or vegan in Greece is certainly not without its challenges. However, over the past few years there has been a welcome increase in restaurants catering to vegetarians and vegans who reside in Athens as well as tourists passing through. From the menu and prices, to the service and atmosphere, here are 3
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Hundreds of rioters plunged a peaceful demonstration in front of the Greek parliament in Athens into chaos as lawmakers were debating the details of new bailout measures. The rioters hurled Molotov cocktails and other objects at police on Sunday (local time).
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Thousands of protesters have rallied in Greece as the country's parliament prepares to vote on a controversial tax and pensions overhaul which has prompted mass opposition. Police said almost 15,000 people turned up in Athens and Thessaloniki on Sunday ...
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Athens (dpa) - Hundreds of rioters plunge a peaceful demonstration in front of the GREEK parliament in Athens into chaos as they hurl Molotov cocktails ...
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Pension cuts and tax increases aimed at satisfying demands of bailout creditors
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Greek President Prokopis Pavlopoulos said that Greece’s stand on the ongoing name dispute with the Former Yugoslav Republic of Macedonia (FYROM) is non-negotiable. Visiting the Macedonian Tombs of Lefkadians, near Naoussa, the Greek leader said that ...
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As 200th anniversary of artefacts’ removal approaches, Greek culture minister says government will appeal to courts and the likes of UN Greece has not abandoned the idea of resorting to international justice to repatriate the Parthenon marbles and is investigating new ways in which it might bring a claim against the British Museum. As campaigners prepare to mark the 200th anniversary of the antiquities’ “captivity” in London, Athens is working at forging alliances that would further empower its longstanding battle to retrieve the sculptures. Continue reading...
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… that we’re heading to Greece. Our whistle-stop three-day voyage will … us to the eternally popular Greek islands Mykonos, Santorini and Patmos … and the capital of Minoan Crete. Although busy here, the guides …
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The European Commission has proposed payment of a tranche towards GREECE to pay off overdue state debts, ahead of Monday's Eurogroup meeting ...
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A billboard erected in London near the British Museum, where the sculptures are displayed, urges British authorities to return the treasures to GREECE.
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Emergency negotiations over GREECE'S perilous finances will take place on Monday amid rising tension in the Eurozone. Eurogroup finance ministers ...
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| READ THE ORIGINAL POST AT www.telegraph.co.uk |
ATHENS, GREECE — Protesters in GREECE have hurled firebombs and other projectiles at police in front of parliament before a controversial vote on an ...
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Members of the communist-affiliated PAME union take part in a rally commemorating May Day, which was postponed due to the GREEK Orthodox ...
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The second and last day of the debate on a draft pensions and tax reforms bill began in the GREEK Parliament at 10:00 on Sunday morning, and will ...
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Euro zone finance ministers gather in Brussels Monday for a eurogroup meeting on Greece as the Greek parliament prepared to vote on a package of measures designed to unlock the next tranche of bailout money. Minister for Finance Michael Noonan, who was ...
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ATHENS, Greece (AP) — Protesters in Greece have hurled firebombs and other projectiles at police in front of parliament before a controversial vote on an austerity bill.
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[Members of the communist-affiliated PAME union take part in a rally commemorating May Day, which was postponed due to the Greek Orthodox Easter, and against tax and pension reforms in Athens]ATHENS (Reuters) - Greek police fired rounds of teargas during a protest outside parliament in central Athens on Sunday evening where lawmakers were discussing controversial tax and pension reforms, a Reuters witness said. A number of hooded protesters threw petrol bombs at police, who responded with stun grenades and teargas, forcing crowds to quickly disperse. (Writing by Michele Kambas)
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[Firefly Music Festival lazy sleeping millennials girls women hammocks]REUTERS/Mark Makela More millennials can't afford to move out of home than at any other time in the past decade. A Zillow analysis published Thursday showed that the share of people ages 24 to 34 living with their parents had risen every year since 2005, from 13% then to 21.4% in 2014. Zillow's data is based on the latest available Census Bureau numbers and its own estimates of the median rent in major cities. A crisis of housing affordability is being worsened by tight inventories and strong demand. Rents, Zillow noted, have risen by nearly 3% over the past decade, while incomes have grown by only 2%. And Zillow forecasts that rents will continue to climb. The report acknowledged that, for some people, the decision to live at home is not just economic. But expensive housing is usually the reason. "Living with their parents may allow young people to continue to do things like continue their education, save enough money for first and last month's rent, or save for a down payment," said Svenja Gudell, Zillow's chief economist. El Paso, Texas, had the highest share of millennials still living at home in 2014, at 34%. In the super-hot San Francisco housing market the share was 21%, and it was 30% in New York — up from 21% in 2005. You can check out the full ranking from Zillow here » NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
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Stanley Druckenmiller, head of Duquesne Capital, thinks that the macroeconomy is looking disastrous and there are two sources for the coming problems. Druckenmiller thinks that leverage is far too high, saying that central banks and China have allowed for these excesses to continue and it's setting us up for danger. The obsession with short-term gains is overwhelming the need for long-term reform at the Federal Reserve, he said. NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
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Greece’s parliament is due to vote on pension overhauls and tax increases on Sunday night amid strikes and street protests, in a move the government hopes will impress the country’s creditors and unlock bailout funds. But Greece’s most influential ...
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GREECE is very close to achieving its targets, returning better-than-expected economic results, European Commission President Jean-Claude Juncker ...
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Almost 15 000 people protested in Athens on Sunday as the GREEK parliament is set to vote on controversial tax and pension reforms later on Sunday.
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This festival is the oldest and largest ethic festival in Tidewater, and will be held in a large tent on the grounds of the Annunciation GREEK Orthodox ...
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When I was in grade school, I was always the kid who eagerly awaited the newest issue of National Geographic magazine. I remember devouring each story, especially when it involved one of my favorite destinations – Greece. Reading about the Greek islands ...
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The left-led SYRIZA government is rushing through a new wave of austerity measures ahead of a crunch Eurogroup meeting of eurozone creditors in Brussels on Monday. Thousands of Greek protestors took to the streets ahead of a vote in Greek Parliament on ...
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The debate on Pensions Reform was interrupted short before 6 o’clock Sunday afternoon just a couple of hours before the voting at midnight. Fierce quarrel with open insults occurred between a Syriza minister and two MPs of the right-extremists of Golden Dawn MPs with the Parliament Speaker to expel one […]
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GREECE'S largest trade union General Confederation of Greek Workers (GSEE) called the measures 'the last nail in the coffin' for workers and ...
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GREEK Culture Minister Aristidis Baltas will guide a hundred refugees around the ancient site of the Acropolis. The refugees – mainly families from ...
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Even the last of the politicians – and mandarin government bureaucrats – know that foreign investments, along with exports and tourism, comprise the road which leads to growth, to new jobs, to increased revenue for the country. They know this so well, that they harp on about it in every statement, every speech in Parliament, […]
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In an effort to create a huge data base of Athenian architectural wonders that are rapidly-disappearing , Monumenta is hosting a photo competition, titled “Greek Buildings in Danger“, that runs until October 16. Participants are called to submit photographs of exquisite buildings around Athens that are in a state of decay. The goal of Monumenta
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European Commission President Jean-Claude Juncker said earlier in the day that GREECE has “basically achieved” the goals of reforms required by ...
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Winning the first stage of the GREECE event, the Latvian established himself in the lead for most of Day 1 only to end up two seconds behind Lukyanuk, ...
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The spectacular Vikos Gorge in northwest Greece, topped by massive rounded cliff buttresses and craggy walls in light grey and orange-yellow, is classified by the Guinness Book of Record as the world's deepest, plummeting some 3,000 feet, a gold based on ...
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The Telegraph spotlights Brexit dangers posed by debt talks between Greece and its embattled creditors as they meet to discuss the 86-billion-euro bailout package approved last summer. The British newspaper points to the looming Brexit referendum in the UK ...
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European Commission President Jean-Claude Juncker said that Greece has “basically achieved” the objectives of the reforms required by its eurozone partners and international creditors. During an interview published in the German newspaper Funke ...
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The Poles ridicule German food, the Belgians say the Dutch are cheap, while Macedonians pity the sexual prowess of Greek men Europe is the migrant crisis, the Greek crisis, the euro crisis; It is the CAP, Ecofin and Eurostat; it is Schengen suspended, anti-Europeans on the march, and the imminent threat of Brexit. Related: Wanted: more jokes about an Englishman, Irishman and Scotsman Continue reading...
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Greece’s European creditors have sent a plan to Eurozone finance chiefs seeking "additional austerity steps" if fiscal targets aren't met.
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Elaine Reichek, Rape of Europa—Reubens. All images courtesy the artist and Shoshana Wayne Gallery. New York-based artist Elaine Rechek is best ...
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Lesbos and Athens, Greece — It is a symbol of desperation and, they hope, of a better life to come. On the Greek island of Lesbos, which half a million refugees passed through last year, the local garbage dump has turned into a burnt-orange mountain of ...
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Jean-Claude Junker spoke ahead of Monday's meeting of eurozone finance ministers.
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