How the world sees Greece
Deputy Minister of Foreign Affairs, Terens Quick, is in Lebanon today in the framework of the business delegation being organized by the Ministry of Foreign Affairs and the Greek Embassy in Beirut. Mr. Quick will give an opening address at the Greek-Lebanese business forum, discussing the positive course of the Greek economy the opportunities for investments in Greece.
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On the margins of the High-Level Week of the 72nd Session of the UN General Assembly, in New York, Minister of Foreign Affairs Nikos Kotzias met on Wednesday, 20 September, with the Minister of Foreign Affairs of Armenia, Edward Nalbandian. During the meeting, the two Ministers focused on the cooperation between the two countries, following Mr. Kotzias’ visit to Yerevan this past March. Emphasis was laid on the political consultations between the two Ministries of Foreign Affairs on issues of mutual interest, as well as on enhancing economic cooperation in sectors such as energy, transport and tourism. They also considered the whole range of EU-Armenian relations, the strengthening of which can be bolstered by the activation of the Greece-Bulgaria-Armenia trilateral cooperation scheme, that has been proposed by the Greek side. Issues of regional interest were also touched upon, including the Cyprus issue, where a briefing on the latest developments was requested by the Armenian Minister of Foreign Affairs. They also discussed the situation in Nagorno-Karabakh and the upcoming Kurdish referendum in northern Iraq. Finally, Mr. Kotzias invited his Armenian counterpart to visit Athens towards the end of this year, on a date to be fixed through diplomatic channels.
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[Milkau Oberer Teil Code of Hammurabi] The Federal Reserve left its benchmark interest rate unchanged between 1.00% and 1.25% at the conclusion of its two-day meeting in September. It also confirmed, as expected, that it will begin shrinking its $4.5 trillion balance sheet in October. The central bank has raised rates four times since December 2015, when it hiked for the first time since before the financial crisis. But, rates remain at the lowest levels in the last 5,000 years of civilization. Citing a speech by Bank of England chief economist Andy Haldane, Bank of American Merrill Lynch's Michael Harnett and his team previously shared the chart below showing just how low today's rates are relative to those in the past. [screen shot 2015 09 18 at 10.12.09 am] Haldane's list of sources for this is pretty staggering. (You can look through them all here.) To make it a bit clearer, we put together an annotated list of key historical episodes and the corresponding interest rate at the time, using data first put together by @Macro_Tourist back in 2014: * Mesopotamia, c 3000 BC: 20% * Babylon, Code of Hammurabi, 1772 BC: codified earlier Sumerian custom of 20%. * Persian conquest (King Cyrus takes Babylon), 539 BC: rates of 40+%. * Greece, Temple at Delos, c. 500 BC: 10% * Rome, Twelve Tables, 443 BC: 8.33% * Athens/Rome: circa the first two Punic Wars, 300-200 BC: 8% * Rome: 1 AD: 4% * Rome, under Diocletian, 300 AD: 15% (ESTIMATED) * Byzantine Empire, under Constantine, 325 AD: LIMIT 12.5% * Byzantine Empire, Code of Justinian, 528 AD: LIMIT 8% * Italian cities, c. 1150: 20% * Venice, 1430s: 20% * Venice, (Leonardo da Vinci paints "The Last Supper" in Milan), 1490s: 6.25% * Holland, beginning of the Eighty Years' War, 1570s: 8.13% * England, 1700s: 9.92% * US, West Florida annexed by the US, 1810s: 7.64% * US, circa World War II, 1940s: 1.85% * US, Reagan administration, 1980s: 15.84% * US, Fed does not hike rates in September, 2015: 0-0.25% SEE ALSO: WE'RE OFFICIALLY IN THE 2ND-LARGEST BULL MARKET SINCE WORLD WAR II Join the conversation about this story » NOW WATCH: GARY SHILLING: Stocks are expensive, and a 'shock' could send them plunging
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Continue your trip with a stop at one of these 7 Stunning Under-the-Radar Greek Islands. Agents will tour through Greece on this five-night multicity tour. The exploration begins in Athens, where agents will visit the Acropolis, the Parthenon and other ...
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FT and Bloomberg do not share Greek government's optimism
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AEK win ahead of Super League clash with Olympiakos
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Greens score a goal in each half
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Partake in the Sweet Aroma of Samos at the 58th Pensacola Greek Festival The Annunciation Greek Orthodox Church in Pensacola will be hosting the 58th Pensacola Greek Festival October 13 – 15, 2017. This three-day fall staple draws locals and visitors ...
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"Relations between GREECE and China, two of the most ancient and most important civilizations of human history, are excellent both politically and ...
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I was really busy organising a trip that summer to go island hopping in GREECE with my friends. Even when I got diagnosed I was so convinced I was ...
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I grew up in GREECE, the most beautiful country in the world. I live in Canada, the most beautiful society in the world. I remember deciding to move to ...
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10 while anchored near GREECE'S main port of Piraeus. However, it had to be swapped out this week as its seaworthiness certificate ran out.
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Four years later, there are signs that maybe this time it could be different for anyone bold or crazy enough to bet on GREECE'S beleaguered lenders.
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Two new Greek hotels are added to the Bomo Club chain in 2018, managed by the Muzenidis Group which offers thus more accommodation options ...
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Greek Tourism Minister Elena Kountoura and her Russian counterpart Alla Manilova inaugurated in Moscow the GREECE-Russia Tourism Year ...
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The debt-wracked casino in Rio, western GREECE, has been permitted to reopen after a court in Patra put a temporary stay on the seizure of its capital ...
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GREECE exported 50.38 tons of olive oil in the first half of the year for 214.9 million euros. This means it sold olive oil to other countries at 4.2 euros per ...
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… experience the Greeks' legendary zest for life. Besides delicious Greek cuisine, you’ll enjoy Greek music, dancing, and … . Come experience a taste of Greece without the airfare! For more …
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Greece is considering swapping 20 small bond issues for four or five new ones, government sources said, as it prepares to exit its international bailout and resume normal financing operations The country has been surviving on rescue funds since 2010 and is ...
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Greek authorities have arrested the captain and chief engineer of the tanker ‘Lassaia’ after discovering that it has been pumping oil from the shipwreck, Agia Zoni II, that was responsible for the oil spill and polluting the Athens coastline. While the tanker was assisting in the cleanup operation of the shipwreck, it was also pumping […]
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Leader of New Democracy (ND) Kyriakos Mitsotakis has asked Shipping Minister Panagiotis Kouroumblis to resign, due to the delays and oversights in the government’s response to the oil spill in the Saronic Gulf. Speaking at an emergency session of the Environment Committee in Parliament, Mitsotakis said, ‘if he had any dignity’, the minister would have already […]
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Greek Prime Minister Alexis Tsipras marked the second anniversary of the SYRIZA-ANEL government with a message of hope saying that Greece is in sight of the end of the “ordeal of bailouts”. “In a year from today, we will be in our third year but we will have already left the memorandum behind us. And […]
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Workers from the Eldorado Gold mines in Chalkidiki, northern Greece, have announced that they will travel to Athens again, to demand that the government issues the necessary permits for the company to continue its operations. The Canadian company has set a deadline, that expires on Thursday, for the Greek government to issue permits for the […]
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Katerina Stefanidi reacted angrily to suggestions in social media that she cannot claim the title of Europe’s top athlete for 2017, as long as she lives mostly in the US. The Olympic and World champion in pole vaulting responded to all those who questioned her patriotism, and explained why she trains in Greece and America. […]
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Two Turkish coast guard vessels pursued a Greek coast guard boat near the port of Mytilene, capital of Lesvos Island. According to Lesvos News, the Greek boat was in Greek territorial waters assisting an inflatable boat carrying asylum seekers that had run ...
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The Greece-China Committee met for the first time since November 2012, and discussed trade initiatives and investments at the 12th Joint Inter ministerial Greece-China Committee meeting, which commenced in Athens on Wednesday. Greece’s relations with ...
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RICHMOND, VA – Saints Constantine and Helen Greek Orthodox Cathedral in Richmond is celebrating its 100th anniversary with events which took place throughout the year […] The post Sts. Constantine and Helen Cathedral 100th Anniversary in Richmond appeared first on The National Herald.
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Devastated by hurricanes, the Caribbean nations whose economies are largely dependent on tourism are appealing to the IMF for temporary relief from debt repayment. But that alone might not bring complete relief, as some of the debt is owned by exploitative "vulture funds" which have a history of aggressively pursuing defaulters regardless of the circumstances. [A dog walks past damages on September 20, 2017, in Grand Case, on the French side of the Caribbean island of Saint-Martin, after hurricane Maria and Hurricane Irma hit the island. (Photo: HELENE VALENZUELA / AFP / Getty Images)]A dog walks past damages on September 20, 2017, in Grand Case, on the French side of the Caribbean island of Saint Martin, after Hurricane Maria and Hurricane Irma hit the island. (Photo: *Helene Valenzuela / AFP / Getty Images*) Last week, just days after Hurricane Irma thrashed through the Caribbean with record-high winds, the Catholic bishop of the island nation of Dominica sent a letter to the managing director of the International Monetary Fund (IMF). Bishop Gabriel Malzaire pleaded with the IMF to temporarily delay debt payments from Antigua and Barbuda and other islands left in ruins by the storm. "The few dozen small Island States across the world, for example, have neither the size nor developmental history to have been major contributors to current climate change," Malzaire wrote on behalf of the Antilles Episcopal Conference, the Caribbean conference of Catholic Bishops. "Yet these small Island States are the most easily devastated by rising seas and harsher storms." On Monday evening, Hurricane Maria slammed into Malzaire's home island of Dominica, a Caribbean island nation where 50 percent of children live in poverty. Maria arrived as a Category 5 storm with winds whipping at 160 miles per hour. Prime Minister Roosevelt Skerrit described the resulting "widespread devastation" as "mind boggling." As of Tuesday afternoon, Malzaire's allies in the United States were unable to reach the bishop and their other partners in Dominica, according to Eric LeCompte, director of Jubilee USA, an alliance of advocacy groups and religious communities that pushes for international refinancing and debt relief for the world's poorest economies. Meanwhile, Maria has barreled into the US Virgin Islands and Puerto Rico, two US territories currently dealing with debt crises of their own. Last year, Congress responded to Puerto Rico's financial troubles with a refinancing package that was signed into law by President Obama. The US Virgin Islands are still recovering from Hurricane Irma, and local government told residents to leave damaged homes behind for shelters as Maria approached. LeCompte told Truthout that Malzaire's letter requesting temporary debt relief for Antigua and Barbuda now applies to the bishop's own country of Dominica, which may have suffered some of the worst hurricane damage the Caribbean has seen this year. "At this point, Antigua and Barbuda as one country and Dominica as another could both qualify for a temporary moratorium on international debt payments to the IMF," LeCompte said in an interview. Like other islands in the Caribbean, Dominica is saddled by significant international debt. LeCompte said the country's debt level has been unsustainable since at least 2010, and Hurricane Maria could lead to a "full-blown debt crisis." For Dominica and Antigua and Barbuda, debt relief is not just about reducing the financial burden of making payments to world bankers. Placing a temporary delay on debt payments is one of the quickest ways to aid a country's rebuilding efforts after a disaster, LeCompte said. If the IMF and other creditors were to grant a debt moratorium, it would free up millions of dollars for recovery. "It's imperative that the IMF, World Bank and other creditors delay payments or grant a debt payment moratorium to provide financing and relief in the face of human tragedy," LeCompte told a United Nations working group on Tuesday morning. The IMF did not respond to a media inquiry from Truthout by the time this story was published. Reports surfaced last week indicating that the IMF initially rejected the idea of placing holds of debt payments from Caribbean nations impacted by hurricanes, but LeCompte said those reports took statements from an IMF official out of context. "We know that they are considering our proposals right now," LeCompte said of the IMF. Meanwhile, Puerto Rico and the US Virgin Islands are facing a slightly different quandary. While independent nations like Dominica have received loans from a mix of private creditors and public development institutions like the IMF and World Bank, the US Virgin Islands and Puerto Rico have defaulted on bond payments and suffered from financial mismanagement in the past. Tourism is a main source of income for Puerto Rico and especially the US Virgin Islands, so new tax revenue will be slow to come by as both territories recover. Observers fear this could push the Virgin Islands into bankruptcy, and Puerto Rico declared bankruptcy earlier this year. President Trump has said there will be no "bailout" for Puerto Rico's financial crisis, but LeCompte said the territory may be in a better position than the US Virgin Islands because President Obama signed a refinancing plan for Puerto Rico into law last year. Citing $70 billion in debt to bondholders and $50 billion in pension obligations to public employees, Puerto Rico filed the largest municipal bankruptcy claim in US history in May under protections established by the federal refinancing law. The refinancing legislation has been criticized as a top-down exercise in reasserting Washington's colonial power, but LeCompte says that at least it created a "super-bankruptcy" process that provides a path towards resolving Puerto Rico's debt. Those benefits were not extended to the Virgin Islands, which owes even more debt per capita than Puerto Rico, according to LeCompte. "Especially after Hurricane Irma hit, [the US Virgin Islands] are in really bad shape right now," LeCompte said, adding that advocates are currently focused on making sure federal grant money for disaster relief gets to both Puerto Rico and the Virgin Islands as quickly as possible. The debt crises in the Caribbean are further complicated by exploitative hedge funds known as "vulture funds" that are already known for predatory behavior in places such as Detroit, Greece and Argentina. These funds buy debt for pennies on the dollar and then aggressively pursue defaulting governments in court. "As for predatory hedge funds or vulture funds, they don't discriminate between countries and territories," LeCompte said. "They can buy debt on the cheap from anyone, whether that is Puerto Rico's debt or debt in Dominica." Stories like this are more important than ever! To make sure Truthout can keep publishing them, please give a tax-deductible donation today.
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BERLIN (AP) — More than half of the migrants who entered Europe amid a mass influx in 2015 and 2016 were still awaiting decisions on asylum applications by the end of the period, and only a small percentage had been turned down and sent home, according to a study released Wednesday. The Pew Research Center said of the 2.2 million asylum-seekers who reached Europe during those years, 52 percent were still awaiting decisions on their applications by the end of 2016. Forty percent had their applications approved, while 3 percent were ejected from countries where they sought protection. Most asylum-seekers entered Europe by crossing into Greece and Italy, but many then continued north to apply for asylum in other European countries.
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Euro Working Group head Weiser interview to Insider.gr
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All in the name of beauty
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Second only to Croatia
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ATHENS (Reuters) - Greece’s Piraeus Bank said on Wednesday it did not expect any material impact on its finances after its shares plunged on a media report that a central bank audit found regulatory violations by some employees. The bank’s shares fell ...
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The rescue operation of a migrants boat turned into a serious incident between the Greek and the Turkish Coast Guard and set lives at risk, as the latter sailed closed to the port of Mytilene without permission. According to local media from the island of Lesvos, a Greek Coast Guard vessel sailed for a Search … The post Turkish Coast Guard vessels harass Greek vessel rescuing migrants off Lesvos appeared first on Keep Talking Greece.
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Craving some souvlakia? Hungry for some pastitsio? Got a hankering for a gyro? Well, be sure to save some for the rest of us. The Birmingham Greek Festival, which began in 1972 and is one of the Magic City's biggest and longest-running cultural food ...
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ATHENS – In one year from now, Greece will have left the memorandum programmes behind it and in that one year the government must carry out […] The post PM Tsipras: We Are Leading the Country Safely Out of the Crisis appeared first on The National Herald.
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The Latest on Europe's response to the large numbers of refugees and migrants who have tried to reach or entered Europe (all times local): 5:45 p.m. Authorities say 77 refugees and migrants were found walking along a highway in Greece after smugglers they ...
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BRUSSELS — The Latest on European Union finance ministers' meeting on Greek debt (all times local): 1:105 a.m. The eurozone's top official says an agreement to give Greece the next batch of bailout cash it needs before a summer repayment bump has not ...
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Turkish vessels infringe Greek territorial waters during rescue operation operation
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… in a Bundesliga game. In Greece, former Super Eagles striker Emmanuel … twice for Olympiakos in their Greek Cup 2-1 win over Asteras …
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… pipe stringing completed in the Greek and Albanian sections of the … the Turkish-Greek border, run through Greece, Albania and the Adriatic Sea … be 878 kilometers in length (Greece 550 kilometers, Albania 215 kilometers …
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… the Graduate Assistant for Non-Traditional Greek Life (NGL). Her role entails … of Greek Life as an undergrad in Arizona. Being a former Greek … . The meaning and purpose behind Greek Life influenced French’s interest …
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ATHENS – Four people will face trial on charges of allegedly plotting to spy on former Greek Prime Minister Costas Karamanlis when he was in […] The post Four Charged in Spy Plot Against Ex-Premier Karamanlis appeared first on The National Herald.
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ATHENS – With many travelers switching from hotel rooms to whole apartments or homes being listed for rent on the site Airbnb and rivals, Greek […] The post Greek Hoteliers Push for Taxes on Airbnb, Competition appeared first on The National Herald.
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BOULDER, Colo. (AP) — Don’t address the 30-year-old freshman kicker from Australia as “Sir.” It makes him feel old. As for any sort of age […] The post 30-year-old Greek-Australian Kicker James Stefanou Shining for Colorado appeared first on The National Herald.
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Boris Ryaposov via Shutterstock According to some largely evangelical Christians in the US and UK, an alignment of stars and planets foretold in Revelation 12 indicates the world is going to end this Saturday, September 23, 2017. It’s not clear how many people actually believe this prophecy, but it has garnered plenty of attention. It even warranted a reasonably well-produced TV documentary, The Sign, which was spawned by an exegetical video narrated by Dr David Jeremiah, pastor of a San Diego megachurch. As with John Hagee’s 2014 Blood Moon Prophecy, astronomy and astrology have long been associated with prophecy. But this particular prediction isn’t ultimately about planets and stars: at its root, it comes down to geopolitics, and specifically Israel. The group who subscribe to this prognostication call themselves Christian Zionists. They believe that Christ will return to Jerusalem, where he will lead an army of Jews and Christians to defeat an army of Arabs and Russians. Any geopolitical conflict in the region can be taken as a sign of the coming apocalypse, and this summer’s especially tense crisis over Temple Mount in Jerusalem made for just the right “evidence”. Michael Barkun, professor of politics at Syracuse University, calls this mix of biblical literalism, geopolitics, and astrology “improvisational millennialism” – an attempt to reduce the cacophony of world events into a single comprehensive narrative of higher meaning. Moreover, the social media sphere has presented an amalgam of alternative and partial scientific truths (or full-blown untruths) to validate knowledge. Our real apocalypse will likely not be a single catastrophic event, but will likely be a slow (in human terms) concatenation of events that feedback with each other to remake a planet no longer liveable to the majority of life. And as such, these eventual apocalypses are cognitive escapism. The singularity and psychological impact of a specific date makes a prophecy all the more compelling and liberating for groups who believe they are special and will be saved – and fatalism offers an easy way to avoid making the difficult sacrifices to change our way of life to prevent a much more probable global apocalypse. BENEATH THE VEIL Given the intensities of climate change, and especially in light of a devastating Caribbean hurricane season, plenty of commentators are calling for an end to apocalyptic thinking, worrying that doom-and-gloom narratives are fatalistic and paralyse us when we should be taking action. This may be true of (particularly American) Christian evangelical ideas about a pre-scripted apocalypse, where climate change is a sign of imminent Armageddon, or the more secular idea of apocalypse as calamity by human or otherworldly intervention. But fatalism and apocalypse do not necessarily go hand-in-hand. The word “apocalypse”, in fact, originally meant “to unveil” (coming from the Greek “apo” meaning “un-” and “kaluptein” meaning “to veil”). It describes an enlightening catastrophe that reveals new ways of knowing, a moment of disjunction and disruption that opens up space for rethinking the status quo. And even the anticipation of such moments can be extremely politically powerful. As Norman Cohn detailed in his classic 1957 book, The Pursuit of the Millennium, millennial movements can profoundly disrupt oppression, persecution, and the status quo. It is precisely this revolutionary spectrum that gives apocalypse its socio-political potential to challenge fatalistic thinking about existential threats, and in particular climate change. MOMENT OF CLARITY Slovenian social theorist Slavoj Žižek writes that we live in apocalyptic times in which several different apocalyptic trends, including “ecological breakdown”, are quickly “approaching their zero point”. As Žižek sees it, this is a critical moment, an opportunity to dismantle the imperative to preserve capitalist society in the name of the universal (an authentic democratic rupture of the parameters of global capitalism). Some of the testimonies coming from Texas and Florida after hurricanes Harvey and Irma offer a glimpse of this socially disruptive potential. People who have lost everything were outraged at being asked to pay rent on uninhabitable homes, and at the inevitable small print clauses home insurers will use to weasel out of paying out to their customers. For an all-too-brief moment, it seemed the ethical implications of this economic order had been fully revealed. Some assumed the hurricanes and their human ramifications might lead to radical changes to climate change policy and the capitalism that underpins it; as George Monbiot put it, this environmental crisis “demands a new ethics, politics and economics”. But capitalism cannot abide the possibility of upending itself to cope with climate change, despite calming voices that assure us the status quo will protect us from environmental disaster. Indeed, as the water receded in Texas and Florida, the discussion quickly turned to resorting to the usual economic order. The discussion was no longer about the ethics of what had happened to people per se – it was about consumers, savers, retailers and investors. And so this apocalyptic “unveiling” ended with the veil back in place. In the last 500m years, the world has “ended” in the sense of mass extinction five times. It is of course possible that it’ll end again this Saturday, though according to my own statistical calculations, the odds of that happening are roughly one in 36.5 trillion. But whether it does or not, we’re already experiencing an existential catastrophe, albeit in slow motion. It’s not happening for astrological reasons, but because of our own very earthbound politics and economics. And if it’s only unveiled for the apocalypse it truly is, we might be able to disrupt our toxic status quo before it’s too late. [The Conversation] _Tristan Sturm does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond the academic appointment above._
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Toast fall with a scrumptious array of food and drink at Fremont Oktoberfest and the St. Demetrios Greek Festival Friday through Sunday, Sept. 22-24, and Festa Italiana Saturday and Sunday, Sept. 23-24. Fremont Oktoberfest, inspired by Germany’s fall ...
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As if there wasn't enough tension in the relationship between the United States and Russia, the two countries are now battling over the extradition of a ...
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Group of up to 60 unaccompanied children expecting to come to UK have heard nothing about their applications Dozens of unaccompanied children in Greece have been left in limbo for more than a year after they were expected to be admitted to the UK as part of the British government’s commitment to rescue Europe’s most vulnerable young refugees. The group of up to 60 children were expected to come to the UK under a scheme, created by the Labour peer Alf Dubs, that was intended to bring around 3,000 child refugees into the country. But despite being put through a time-consuming screening process and being identified as provisionally eligible this time last year, they have heard nothing about their applications since. Continue reading...
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The mayor Lesbos this morning threatened to sue the GREEK government for turning a blind eye to the rising tide of asylum seekers that he claims ...
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