How the world sees Greece
THESSALONIKI — Greek authorities have confiscated a huge shipment of painkillers in the country’s biggest port after they were informed the drugs were destined for Islamic State group fighters. The Financial Crimes Squad said that more than 26 million pills were found in a container registered as containing linen goods. It said Greek authorities received
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Buried under 100 billion euros ($113.66 billion) in bad loans, Greek banks want to sell them off to debt collectors to hound people.
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With the release of more bailout monies in limbo over undone reforms, Greece will now face more tough demands from creditors.
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The latest American job market figures are truly alarming: and will require a complete change of approach from the Federal Reserve Britain is trapped in its own little Brexit bubble. For the next two and a half weeks, the country will be obsessed with the result of the referendum on 23 June. Nothing that is going on in the rest of the world will get much of a look-in. But beyond these shores, things _are_ happening. The authorities in China are desperately trying to shore up growth. Eurozone finance ministers have all but guaranteed that, sooner or later, the Greek crisis will flare up again. Most pressingly, the US economy looks to be heading for serious trouble. Continue reading...
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Socceroos coach Ange Postecoglou has slammed ANZ Stadium's pitch, declaring he's embarrassed to have hosted GREECE on such a shoddy playing ...
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DORFMAN, LONDON Alexi Kaye Campbell’s new work has plenty of political comment but little to say on the state of present-day Greece The theatre, one character proclaims in Alexi Kaye Campbell’s new play, is “democracy’s twin”. Its aim is to show you a different perspective. It should stir up emotions and change your point of view. This is a proclamation that becomes a cudgel. _Sunset at the Villa Thalia_ is not likely to change anyone’s point of view. Not least because it is so stuffed with declarations – about politics and about personalities which demand to be taken at face value. Campbell, the child of a Greek father and English mother, was an infant when the colonels took over in Greece. He sets his play on Skiathos both in the year of the coup and some nine years later. An English couple, cajoled and bludgeoned by an over-bearing American, buy a cottage at a knockdown price, and effectively disinherit the Greek owners. The political metaphor is not hard to decipher, and it is rammed home further by references to the toppling of the Allende regime in Chile. Yet the vital opportunity to make this resonate with present-day Greece is missed. Which is the more surprising as seven years ago in his fine play, _The Pride,_ Campbell subtly used an earlier era to light up the present. Continue reading...
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[RTX2AD4D] Summer is coming and green bonds are blooming. Issuers of such bonds promise to use the proceeds on environmentally friendly projects. There are no hard and fast parameters for what a green bond can fund, but they cover areas like renewable energy, deforestation, green buildings, clean transportation and water treatment. "An increasing number of investors find the concept fun, a win-win, a kind of no-brainer," Suzanne Buchta, managing director of green bonds at Bank of America Merrill Lynch, told Business Insider. "I think they like to devote their fixed income dollars into things like cleaner air, more open space, better biodiversity protection and better use of resources." Global green bond issuance stands at $21.7 billion so far in 2016, up 78% from $12.1 billion issued in the same period last year. That's a record high, according to a note circulated by Dealogic, and the volume of green bonds has already reached 59% of the total in 2015. Most of the bonds were sold by global agencies like the World Bank, but an increasing number of financial institutions and private companies are joining in. For example, Bank of America Merrill Lynch is the top bookrunner for global green bonds so far this year with a 13.5% market share. That's followed by Guotai Junan Securities Co and Haitong Securities, according to Dealogic. Apple issued $1.5 billion in green bonds in February. Automakers have also tapped the green bond market amid growing demand for electric cars. Toyota Motor Corp. sold $1.6 billion in green bonds to fund its hybrid-gas electric models. Zhejiang Geely, which makes London taxis, raised $400 million in green bonds that were oversubscribed by nearly 6 times, according to Bloomberg News. "My view is that once you have a leader come to the sector, others will follow," Buchta said. Chinese banks are getting in on the act too, as the government is supporting green bonds as a way to finance its environmentally-friendly initiatives, such as building clean-power generators. China issued $7.9 billion in green bonds in the first quarter of this year. That's nearly half of the quarter's total global volume and makes China the top issuer for the first time, according to credit rating agency Moody's. "There's significant momentum on the heels of adopting the climate agreement in Paris at end of 2015," Henry Shilling, a senior vice president at Moody's, told Business Insider. "It requires capital reallocation to meet those commitments — which involves trillions of dollars in renewable energy and low carbon investments — and green bonds play an important role." Moody's expected green bonds volume to reach $50 billion this year. We've already seen an uptick in the first quarter and if that trend persists, issuance could beat Moody's projections and hit a new high at $70 billion by the end of 2016, Shilling said. SEE ALSO: APPLE IS BORROWING MONEY TO FUND ECO-FRIENDLY PROJECTS Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: How I dealt with stress when Greece nearly defaulted
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