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Keyword: greece

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  • US election 2012: Obama won my support – but it won’t happen again

    09/01/2012 2:13:13 PM PDT · by 2ndDivisionVet · 38 replies
    The Daily Telegraph ^ | August 31, 2012 | Daniel Hannan, UK Member of the European Parliament
    American pollsters will tell you that the presidential candidate who is in the lead going into the party conventions usually wins. Four polls last week showed a tiny lead for Barack Obama, two for Mitt Romney and one was level; all seven were well within the margin of error. Another rule is that the Gallup poll taken 100 days before the poll foretells the winner. Only once in the past 60 years – the Bush-Dukakis race of 1988 – did that predictor fail. So, what did Gallup show on the date in question? A dead heat, with both candidates on...
  • Turkey Lobbies Museums Around World to Return Artifacts

    08/31/2012 7:11:20 PM PDT · by SunkenCiv · 15 replies
    Voice of America ^ | Friday, August 31, 2012 | Dorian Jones
    Turkey is following an increasingly aggressive policy of getting top museums around the world to return its heritage. Minister of Culture and Tourism Ertugrul Gunay says that in the last decade, more than 4,000 artifacts had been brought back to Turkey from world museums and collections... Gunay says when you visit the world's big museums in the US, England, France, Germany, you see that most of the precious artifacts came from Turkey, Italy, Egypt and Greece. Some of these, he says, were looted, and he is fighting to get back historical artifacts that went to the big museums of the...
  • The Greek Crisis: Palaeoanthropology and Archaeology

    08/31/2012 6:42:42 PM PDT · by SunkenCiv · 5 replies
    Heritage Daily.com ^ | August 29, 2012 | Charles t. g. Clarke
    Greece has been in the grip of a financial crisis for the last few years now and Greek heritage sites are hit the worst. There is however, an unseen, less well known crisis and it involves Greek palaeoanthropology -- the study of hominin evolution. It is not so much a crisis as a metaphorical drought of artefacts and fossil evidence, which remains the best way to understand human evolution in Greece. An understanding of tectonic activity and the ever changing relationship between the Aegean Sea and mainland Greece are crucial to understanding why so little Lower Palaeolithic Hominin material has...
  • Germany Making Big Euros Off Greek, Eurozone Crisis

    08/27/2012 7:09:36 PM PDT · by SunkenCiv · 11 replies
    Greek Reporter ^ | August 21, 2012 | A. Papapostolou
    When Greece makes a $3.98 billion loan payment this month to the European Central Bank, one of its international lenders in bailouts, Germany -- which is putting up much of the rescue monies -- will reap the biggest profit, eFXnews reported. FT Deutschland noted that by 2026, when Greece is expected to finish paying off $325 billion in two bailout packages, that Germany could realize $15.8 in gains. In the meantime, Germany has already made significant gains from the very low interest rate it paid to finance its debt as shown in the calculations of economist Jens Boysen-Hogrefe of Germany's...
  • EU: Merkel says Greece will stay in the eurozone but traders fret over more delays

    08/24/2012 9:39:45 PM PDT · by bruinbirdman · 4 replies
    The Telegraph ^ | 8/24/2012 | Louise Armitstead
    Angela Merkel pledged to keep Greece in the eurozone - but her comments failed to convince traders who bet on yet more dangerous procrastination in Berlin and Brussels. After talks with prime minister Antonis Samaras in Berlin, the German Chancellor said she was “deeply convinced” that the new Greek government was “doing everything to solve the problems.” Mr Samaras insisted that Greece “wants time not money.” But Ms Merkel refused to even address Greece’s plea, signalling a continuation of the deadlock at the heart of the debt crisis. The sense of vacuum rather than solution was compounded by revelations that...
  • In crisis, Greece rounds up immigrants

    08/24/2012 3:16:23 PM PDT · by Lorianne · 9 replies
    AP ^ | 22 August 2012 | Costas Kantouris
    Border police jeeps hurtle along hot, dusty tracks past potato fields on their way to the river that marks the Greek-Turkish border. Sirens blaring, the convoys have been repelling wave after wave of migrants. Greece's remote Evros region has turned into Europe's main battleground against illegal immigration; more than two-thirds of people making the clandestine journey into the European Union pass through here from neighboring Turkey. Greece launched an aggressive campaign this month to try to seal its 200-kilometer (130-mile) northeastern border, as it faces a debilitating financial crisis that has caused a swell in joblessness and a surge in...
  • Greeks confront crime wave amid austerity

    08/24/2012 12:49:29 PM PDT · by Lorianne · 25 replies
    BBC ^ | 16 August 2012 | Chloe Hadjimatheou
    Greece's faltering economy has put many people out of work and cut support for illegal immigrants. Now Greeks are facing a rise in crime their police seem unable to stop. It probably never occurred to Niki Yanakopoulou that she might be in danger as she let herself into her central Athens apartment building in the middle of the day. The 75-year-old had just been to the bank and police say the man who followed her home most likely chose her at random, hoping she would be carrying her pension. He entered the building behind her and hit her on the...
  • Greece Really Is Going To Start Selling Islands

    08/23/2012 8:49:29 AM PDT · by SeekAndFind · 29 replies
    Business Insider ^ | 08/23/2012 | Susan Daly
    THE PRIME MINISTER of Greece has made a surprise announcement to Le Monde newspaper: that his country is ready to put some of its uninhabited islands up for sale. According to the French publication today, PM Antonis Samaris makes the admission in a lengthy interview – a synopsis of it can be viewed on Le Monde’s website. In the introduction, the reporter Alain Salles notes that Greece hopes to accelerate the privatisation (of some State assets) and is ready to give up uninhabited islands (underlined in red): It’s part of Samaras’s plan to try and pull Greece back from the...
  • "Padlock" in 1,250 companies in Thessaloniki since the beginning of the year (Greece)

    08/22/2012 5:29:03 PM PDT · by dynachrome · 7 replies
    Protothema ^ | 8-22-12 | unattributed
    One thousand two hundred and fifty companies of Thessaloniki put "padlock" from the beginning of the year until the end of August, according to a statement of the Crafts Chamber of VETH city. Individual companies seem to be the most "weak link", and 998 of them have ceased to operate in the specified period of 2012. The picture shows the craft community is a continuation of 2011, when during the same period (January 1 to August 22) removed from the register of companies VETH 1269. (mangled thru google translator)
  • In crisis, Greece rounds up immigrants

    08/22/2012 7:10:50 AM PDT · by PapaBear3625 · 49 replies
    Associated Press ^ | 8/22/2012 | AP
    NEA VYSSA, Greece (AP) -- Border police jeeps hurtle along hot, dusty tracks past potato fields on their way to the river that marks the Greek-Turkish border. Sirens blaring, the convoys have been repelling wave after wave of migrants. ... In Athens, the operation is being bolstered by mass roundups of suspected illegal immigrants. They are seen lined up on the streets of the capital every day, many in handcuffs, waiting to be put in detention until they can be deported. In the first week of the crackdown in early August, police said they apprehended nearly 7,000 people for identification...
  • 'Whale ribs, meteorites and chairs' [ Robert Ballard off Cyprus ]

    08/20/2012 6:07:39 PM PDT · by SunkenCiv · 21 replies
    Cyprus Mail ^ | August 19, 2012 | unattributed
    Famed explorer Robert Ballard's expedition over the Eratosthenes Seamount is currently collecting images during sweeps of the area using the latest technology to explore the sea floor some 70 miles off the island. After two days of exploring, the team's underwater robots, operating at 800 to 1,000 metres, yesterday reached the summit of the Eratosthenes, going over terrain from a previous sweep and then turned west to head to unexplored territory to the west. On Friday night they came across what appeared to be fossilised rib bones commentators suggested might have come from a whale, perhaps even 40,000 years old......
  • EU: Debt crisis drags eurozone economy down 0.2pc

    08/14/2012 5:51:58 PM PDT · by bruinbirdman
    The Telegraph ^ | 8/14/2012 | Louise Armitstead
    The eurozone was shown to be on the edge of a double-dip recession today, as even the powerhouse economies faltered in the face of the three-year-old debt crisis. The combined economies of the 17-members contracted by 0.2pc in the three months from April to June, according to Eurostat, following zero growth in the first quarter. News of the contraction came amid further speculation that Greece will push for a two-year extension of its latest austerity programme. Germany managed 0.3pc growth, thanks to strong investment and domestic consumption, and the Netherlands posted an up-tick in production of 0.2pc. But the growth...
  • More Turk Bias Against Greeks, Armenians

    08/13/2012 8:44:48 AM PDT · by bayouranger · 6 replies
    commentarymagazine.com ^ | 12AUG12 | Michael Rubin
    The White House continues to talk about Turkey not only as a regional ally but also as a model for reform in the Middle East. It has been several years, however, since Turkish reforms contributed to democracy. The latest case in point is Turkish real estate reform. The Turkish government has announced new regulations. Here is the rub: While the government has removed onerous rules and regulations that made navigating Turkish real estate a nightmare, the government has in effect legislated its traditional hatreds. Armenians, for example, need not apply. They are by law unable to own housing or businesses...
  • France declares war on illegal migrants

    08/10/2012 5:12:10 AM PDT · by NCjim · 29 replies
    Daily Mail ^ | August 9, 2012 | Peter Allen
    French police were yesterday breaking up gipsy camps and deporting illegal immigrants found in them. Dozens of officers in riot gear descended on a settlement near Lille shortly after dawn to oversee the evacuation of some 200 Roma living in mobile homes. One hundred people were evicted from a site in Lyon, with similar round-ups happening in other major cities including Marseille. Caravans and huts were destroyed in the Belleville area of central Paris on Wednesday, making another 100 people homeless. ‘Many of those evicted will be flown home to Romania,’ said an interior ministry source, who insisted the deportations...
  • 5 Graphs That Show How Crazy It Is to Compare California to Greece

    08/10/2012 6:50:31 AM PDT · by SeekAndFind · 24 replies
    The Atlantic ^ | 08/10/2012 | Jordan Weissman
    At a campaign stop yesterday in Iowa, Mitt Romney tossed out a laugh line that seemed to neatly sum up the core of conservative fears about our future as a country. "Entrepreneurs and business people around the world and here at home think that at some point America is going to become like Greece or like Spain or Italy," he said, before adding, "or like California -- just kidding about that one, in some ways." Every good joke is supposed to have a little kernel of truth to it. And we all know that, in their most feverish nightmares, conservatives...
  • Greek firms hit by slow cash flow

    08/05/2012 4:50:30 PM PDT · by DeaconBenjamin · 1 replies
    ekathimerini.com ^ | Saturday August 4, 2012 (17:53) | By Leonidas Stergiou
    Thousands of Greek businesses are facing the specter of bankruptcy, unable to service bank loans and liabilities to suppliers with increasingly meager turnover and profits. According to Hellastat, which processed the balance sheets of 52,000 enterprises between 2002 and 2011, about 50 percent of operating profits today go to pay banks and suppliers, compared to about 30 percent before 2008. In a sample of 15,000 firms of all sizes and activities, aggregate sales fell 4.66 billion euros in 2011. Within four years, businesses lost 25 percent of turnover and 50 percent of profits. Exempting very large businesses and organizations, the...
  • Pakistani 'admits to' brutal attack on Greek teen

    08/05/2012 4:45:43 PM PDT · by DeaconBenjamin · 6 replies
    ekathimerini.com ^ | Sunday August 5, 2012 (20:59)
    A 21-year-old Pakistani national who has allegedly admitted to a brutal assault on a 15-year-old girl on Paros last month faced a prosecutor on the Aegean island on Sunday. The Pakistani admitted to attacking the girl after a second test of his DNA matched a sample taken from the victim, a police spokesman said. The 21-year-old allegedly told police that he had seen the girl sitting on rocks on the Chrysi Akti beach and had tried to steal her cellphone. When she resisted he beat her head against the rocks until she passed out, Skai understands. According to state television...
  • Modern Ruins of Euro-Socialism's Rot: 8 Years Later, Athens Olympic Venues in Decay

    08/04/2012 1:56:54 PM PDT · by DogByte6RER · 21 replies
    AP ^ | August 3, 2012 | ELENA BECATOROS
    8 Years Later, Athens Olympic Venues in Decay There's still one group that loves the training pool for athletes at the former Olympic village in Athens' northern fringe. Frogs. They appear to delight in sitting on debris that floats on the half-filled pool's murky waters. The athletes village itself has fared somewhat better, turned into housing for workers. Eight years after the 2004 Athens Games, many of the Olympic venues Greece built at great expense remain abandoned or rarely used. They are the focus of great public anger as the country struggles through a fifth year of recession and nearly...
  • A Russian-Saudi-Turkish-Chinese alliance to contain the Muslim Brotherhood and Obama?

    08/01/2012 9:47:00 AM PDT · by Zionist Conspirator · 19 replies
    Gatestone Institute ^ | 7/31/'12 | David P. Goldman
    I suggested during our conference call yesterday that the only friend the Muslim Brotherhood has in high places is Barack Obama. I didn't mean that facetiously. Turkey's application to join the SIno-Russian Shanghai Cooperation Organization following Prime Minister Erdogan's July 19 pilgrimage to Russia is a diplomatic humiliation for the United States, and of the first order. Just when Washington is demanding that Russia withdraw support for the Assad regime in Syria, and when Turkey is the linch-pin for American logistics in support of the Syrian opposition, Erdogan has proposed in effect to joint the Russian-Chinese club (without being compelled...
  • 51% of Germans Believe Germany Better Off Outside Eurozone, 71% Favor Greece Leaving

    07/31/2012 12:13:33 PM PDT · by Kaslin · 17 replies
    Townhall.com ^ | July 31, 2012 | Mike Shedlock
    A recent poll says 51 percent of Germans now believe Germany would be better off without the euro. The Emnid poll for the Bild am Sonntag mass circulation weekly showed 51pc of Germans believed Europe's top economy would be better outside the 17-country eurozone. Twenty-nine percent said it would be worse off, AFP reports. The survey also showed that 71pc of Germans wanted Greece to leave the euro if it did not live up to its austerity promises. Economy Minister Philipp Roesler told Bild am Sonntag there were "considerable doubts whether Greece is living up to its reform promises." Implications...
  • Penniless in Paradise

    07/30/2012 9:43:15 AM PDT · by SeekAndFind · 9 replies
    National Review ^ | 07/30/2012 | Kevin D. Williamson
    San Bernardino, California – On the front door of the San Bernardino city hall is a sign that reads: “Out of Order.” Broke city, broken door: There’s a certain pleasing symmetry in the fact that the San Bernardino city council meets behind a door that, like the city government itself, does not work and is in need of replacement. On this particular evening in late July, the council has met to make public what everybody already knows: Intellectually bankrupt, morally bankrupt — the city is under criminal investigation for sundry financial shenanigans — San Bernardino is above all old-fashioned bankrupt...
  • The Threat to Greek Democracy

    07/26/2012 10:13:21 PM PDT · by bruinbirdman · 4 replies
    American Foreign Policy Council ^ | 7/23/2012 | E. Wayne Merry
    Everyone knows Europe faces the potential for Greek financial collapse, with serious ramifications for the euro zone and its financial institutions. Less discussed is the Greek impact on another key European institution, the less restrictive border regime instituted under the Schengen Treaty, and the danger of failure of constitutional democracy in an EU member state. Perhaps the smartest thing modern Greece ever did was join the European Community (now the European Union) in 1981. The Greeks’ dumbest move was to join the euro twenty years later. The EU gave their Third World economy a First World lifestyle. This miracle was...
  • Greece expels Olympic triple jumper Papachristou over Twitter comments

    07/25/2012 11:04:38 AM PDT · by Rennes Templar · 41 replies
    Fox News ^ | July 25, 2012 | AP
    ATHENS, Greece – Triple jumper Voula Papachristou was expelled from Greece's Olympic team Wednesday for her comments on Twitter mocking African immigrants and expressing support for a far-right party. The Hellenic Olympic Committee said Wednesday that Papachristou had been excluded from the team "for statements contrary to the values and ideas of the Olympic movement." Papachristou is in Athens and has not responded to calls from The Associated Press. The committee said she was to travel to London shortly before the track events start. Papachristou's Twitter account ((at)papaxristoutj) contains several retweets and postings of YouTube videos promoting the views of...
  • Greece expels Olympic athlete over racist tweets

    07/25/2012 10:40:56 AM PDT · by Robwin · 8 replies
    AP/Yahoo News ^ | 07/25/12 | Demetris Nellas
    Triple jumper Voula Papachristou was expelled from Greece's Olympic team Wednesday for her comments on Twitter mocking African immigrants and expressing support for a far-right party. The Hellenic Olympic Committee said Wednesday that Papachristou is "placed outside the Olympic team for statements contrary to the values and ideas of the Olympic movement.
  • Alexander the not so Great: History through Persian eyes

    07/25/2012 9:39:37 AM PDT · by Renfield · 31 replies
    BBC ^ | 7-14-2012 | Ali Ansari
    Alexander the Great is portrayed as a legendary conqueror and military leader in Greek-influenced Western history books but his legacy looks very different from a Persian perspective. Any visitor to the spectacular ruins of Persepolis - the site of the ceremonial capital of the ancient Persian Achaemenid empire, will be told three facts: it was built by Darius the Great, embellished by his son Xerxes, and destroyed by that man, Alexander. ~~~snip~~~ He razed Persepolis to the ground following a night of drunken excess at the goading of a Greek courtesan, ostensibly in revenge for the burning of the Acropolis...
  • The end of NATO

    06/01/2010 7:25:59 PM PDT · by Radix · 18 replies · 628+ views
    Vanity ^ | 1 June 2010 | Radix (Me)
    Longtime Israeli military Ally Turkey sanctions a run by avowed terrorist group Hamas at a three year long blockade of the Gaza shore maintained by its non NATO Ally Israel. A bunch of goons and stooges embark upon a provocation of Israeli Defense Forces in the clear belief that the United States under Obama has clearly signaled that the time has come to end the Zionist entity. President Obama who has to this date only allowed an erstatz Birth Certificate to be released verifying his status as a "natural born citizen" is conveniently off on Holiday with his pal Louis...
  • Russia Backs Greece-Cyprus-Israel Triangle Against Turkey on Offshore Gas

    05/08/2012 4:48:42 PM PDT · by bruinbirdman · 5 replies
    On May 3, Moscow criticized Turkey’s plans to explore natural gas deposits around the divided island of Cyprus, under the protection of Turkish naval and air power. Russian Foreign Affairs Ministry’s chief spokesman, Aleksandr Lukashevich, cautioned Turkey that its actions “may exacerbate the situation on the territory of Cyprus” (Rossiskaya Gazeta, May 4). The Greek Cypriots and Israel are coordinating their plans to develop offshore gas deposits and export the product in partnerships with international companies. One export route under consideration would run via mainland Greece into Europe. The Republic of Cyprus, Greece and, recently, Israel are all involved in...
  • Turkey's Historic Blunder

    04/25/2003 8:30:55 PM PDT · by pkpjamestown · 24 replies · 275+ views
    TCS ^ | Ariel Cohen 04/24/2003 | Ariel Cohen
    After weeks of the geopolitical equivalent of friendly fire casualties, Ankara has finally allowed U.S. aid to move to Northern Iraq. Two weeks earlier, and after lengthy delays, it permitted the U.S. Air Force to use Turkish airspace for strikes against Iraq. This saved about $1.6 billion in aid to Ankara, but it was too little, too late. At the critical juncture in a run-up to the war, the Turkish government failed to pass the authorization for the use of the Turkish air bases and for transit of the crucially necessary U.S. 4th Infantry Division through the Turkish territory. Despite...
  • EU: Hizbullah Not a Terror Organization

    07/24/2012 12:49:01 PM PDT · by Eleutheria5 · 17 replies
    Arutz Sheva ^ | 24/7/12 | Gabe Kahn
    The European Union on Tuesday rejected Israel's request that it categorize Hizbullah as a terrorist organization. Cypriot Foreign Minister Gujarat Cossack-Marcolis, who presently holds the EU's rotating presidency, said "there is no consensus on the issue, because Hizbullah also has an active political arm." She added that the matter is open for reconsideration if "tangible evidence" that Hizbullah is involved in terrorist activity can be brought. .....
  • Retirement In Germany May Rise To Age 69 While Greece Is At Age 58

    07/24/2012 1:13:45 PM PDT · by TurboZamboni · 22 replies
    Forbes ^ | 7-23-12 | Walter Loeb
    Retirement In Germany May Rise To Age 69 While Greece Is At Age 58 A senior German retailer pointed out to me that the current economic environment in Europe is unfair and that retirement age for workers should be higher – not lower as the situation exists for workers in Greece. He believes that a productive country is a healthy country. He is pessimistic for the near term outlook of retail trade in Europe, saying that any bailout will lead to higher taxation and depress sales. In 2007 Germany raised its retirement age from 65 to 67 and the German...
  • EU: Who will hold the Troika to account for asphyxiating Greece?

    07/23/2012 6:41:56 PM PDT · by bruinbirdman · 4 replies
    The Telegraph ^ | 7/23/2012 | Ambrose Evans-Pritchard
    Germany has clearly taken the decision to expel Greece from the euro, whatever the new Greek government does. Vice-Chancellor Philipp Roesler says the "horror" of Greek exit has worn off. The markets will hardly miss a beat when the day comes. Greece has already failed to complete 210 targets imposed by the EU-IMF Troika. "Unfortunately it is likely that Greece will not be able to fulfil the requirements. And I say quite clearly, if Greece fails to comply, there should be no more payments to Greece. I have to say I am more than sceptical," he said. Before we all...
  • Spiegel: IMF to provide no new funds to Greece

    07/23/2012 10:18:36 AM PDT · by C19fan · 1 replies
    Deutsche Welle ^ | July 22, 2012 | Staff
    The German news magazine Spiegel reports that the IMF has told the EU it will provide no additional funds for Greece. The report has sparked fresh fears that Greece could fall into bankruptcy by the autumn. A report by a German news magazine on Sunday sparked fresh concerns about the possibility of Greece being forced into insolvency. In an article published on its website, Spiegel cites unnamed senior European Union sources in Brussels who told the news magazine that the International Monetary Fund (IMF) had signaled it would not contribute to any further aid for Greece.
  • Greece reportedly faces IMF aid cut-off

    07/22/2012 7:49:28 PM PDT · by Ernest_at_the_Beach · 8 replies
    Marketwatch ^ | July 22, 2012, 7:59 p.m. EDT | By Michael Kitchen, MarketWatch
    LOS ANGELES (MarketWatch) — The International Monetary Fund is set to stop aid payments to Greece, raising the odds that the nation will become insolvent as early as September, according to a German press report Sunday citing unnamed European Union officials. The “Troika” of international groups overseeing Greece’s aid — the European Commission, the International Monetary Fund and the European Central Bank (ECB) — are due to send inspectors to Athens this week to gauge progress toward the requirements of its assistance program. However, Der Spiegel reported that it’s “already clear” to the Troika that the Greek government won’t be...
  • Cyprus Preparing for Influx of Foreigners Fleeing Syria Violence

    07/19/2012 9:19:57 PM PDT · by robowombat · 1 replies
    Newsmax ^ | Thursday, 19 Jul 2012 11:42 AM
    Cyprus is preparing to assist with the evacuation of as many as 200,000 European Union and third- country nationals in Syria if violence in the country escalates, the government said. “We have plans to enable the evacuation not only from Syria but also other countries in the area,” Foreign Minister Erato Kozakou-Markoulli told reporters in Nicosia today. People fleeing the upheaval will reach Cyprus “by plane or by boat and will remain in Cyprus 48 hours before they are transported to their country”. The plan is similar to the one applied in 2006, when 65,000 citizens from the EU and...
  • Greek island wants to join Austria(running away from a bankrupt country)

    07/19/2012 9:14:52 PM PDT · by TigerLikesRooster · 14 replies
    Foreign Policy ^ | 07/18/12
    Greek island wants to join Austria Posted By Joshua KeatingWednesday, July 18, 2012 - 12:11 PM Share German MPs provoked outrage in Greece in 2010 with a somewhat tongue-in-cheek suggestion that the coutnry shoudl consider selling off some of its islands to settle its accounts. But it appears that some residents of the island of Ikaria is looking to leave the country unilaterally:
  • EU: [Italian premier Mario] Monti plans 'Greek-style' takeover of Sicily to avert default

    07/19/2012 2:38:10 PM PDT · by bruinbirdman · 3 replies
    The Telegraph ^ | 7/18/2012 | Ambrose Evans-Pritchard
    Italian premier Mario Monti is mulling emergency action to take direct control of Sicily’s regional government before the island spirals into a full-blown financial crisis, fearing contagion to the rest of Italy. A woman begging in the street in Sicily. Regional councillor Andrea Vecchio has warned the island has run out of money Mr Monti held an “urgent” meeting with the country’s president Giorgio Napolitano on Wednesday to grapple with the constitutional issue after it emerged that the region faces a deficit of up to €7bn (£5.49bn) this year and is in danger of default without sweeping cuts. Sicily’s regional...
  • The Bullet Train Fiasco Reminds Us That California Is Our Greece

    07/18/2012 6:53:07 AM PDT · by SeekAndFind · 11 replies
    Forbes ^ | 07/18/2012 | Richard M. Salsman
    California is our Greece, the most fiscally irresponsible of U.S. states – and now it has another fiscal fiasco on its hands. A recent report about the state-sponsored “bullet train to nowhere” calculates $68 billion as the total sum to be spent on a high-speed rail line to run between Los Angeles and San Francisco. Passengers are supposed to be able to travel up to 220 miles per hour in two-and-a-half hours. A plane flight is less than an hour – not counting drives to and from the airports. Voters approved the rail project by a 53-47% margin, in a...
  • How Ancient Greeks Named Their Puppies

    07/16/2012 10:00:55 PM PDT · by afraidfortherepublic · 46 replies
    Dogs played a special role in ancient Greek society and mythology; Cerberus guarded the gates of Hades, the goddess Artemis used dogs in her hunt, and Greek citizens employed dogs for hunting and protection. To the ancient Greeks, picking your new pup was an important decision, just as it is today. But, according to Stanford University researcher Adrienne Mayor, writing for Wonders & Marvels, the process could have been just a little bit different. Like moderns, the ancients looked for an adventurous and friendly nature, but one test for selecting the pick of the litter seems rather heartless today. Let...
  • A Cretan Writes A Heartfelt Letter To The Greek IRS

    07/16/2012 3:35:47 PM PDT · by dynachrome · 17 replies
    aixmi.gr via Zero Hedge ^ | 7-16-12 | Taxpayer Aretouli C. Nicholas
    After all that I analyzed above, and hereby invoking the last article of the Constitution I declare the following: a) Faced with the choice not to eat for three (3) months or to pay the tax you’re demanding I’ll choose not to pay a single penny. b) Faced with the choice to commit suicide or become a murderer, I’ll choose to murder you. c) If you have not made an error with this Income Tax Assessment Notice that you’ve sent me, then you’re a bunch of cheats and scoundrels and thieves.
  • IKARIA, GREECE: The Oldest People On Earth Reveal The Secrets To Living Past 100

    07/15/2012 5:28:26 PM PDT · by SeekAndFind · 44 replies
    Business Insider ^ | 07/15/2012 | Dina Spector
    Jeremy Vandel/Flickr There's no magic bullet to living beyond the age of 100. But some places are on the right track.  National Geographic writer Dan Buettner seeks out "Blue Zones," a few pockets around the world where a higher number of people live for a remarkably long time. The remote island of Ikaria in Greece is one hotspot of exceptional human longevity. Here, there are more healthy people over 90 than any other place on the planet. Buettner and his team spent 15 months studying the centenarians of Ikaria. The trip was documented in a series of videos, in which...
  • New cars in Europe may have to cut carbon emissions by one-third

    07/12/2012 4:53:07 PM PDT · by Olog-hai · 16 replies
    EurActiv ^ | 12 July 2012 | Fiona Harvey for the Guardian, part of the Guardian Environment Network
    New cars and vans in the European Union will produce one-third less carbon dioxide within eight years, under proposed new rules set out on Wednesday (11 July) in Brussels. By 2020, the average emissions from new cars will have to be no more than 95 grams of carbon dioxide per kilometer driven (5.4 oz/mile), a cut of more than 40 grams from today's levels and of 35 grams per kilometer compared with the 2015 target, if the proposed new regulations are accepted. Connie Hedegaard, climate chief of the European commission, said the goals were "ambitious but achievable" and would benefit...
  • Greece unable to collect €12.6bn fines due to lack of staff

    07/06/2012 9:40:19 AM PDT · by mojito · 4 replies
    The Telegraph ^ | 7/6/2012 | Andrew Trotman
    The figure amounts to 6.2pc of the debt-stricken country's GDP, Ekathimerini reported, citing data posted on the website of the Finance Ministry’s General Secretariat of Information Systems. The report comes as Prime Minister Antonis Samaras today presents his economic plans for a country mired in a fifth year of recession despite two international bailouts and a raft of reforms. As Greece struggles with an unemployment rate of 22.6pc, the country's tax collection mechanism has only managed to take in €630m - 4.77pc of the total €13.2bn fines - due to being understaffed and the absence of electronic applications. The court...
  • Greece admits veering from bailout obligations

    07/05/2012 12:18:24 PM PDT · by C19fan · 10 replies
    Reuters ^ | Julu 5, 2012 | Renee Maltezou and Harry Papachristou
    Greece conceded on Thursday it had slipped "in some respects" in implementing the cuts and reforms demanded by lenders in exchange for saving Athens from bankruptcy, and tried to persuade them to cut the country some slack. Finance Minister Yannis Stournaras made the admission after meeting senior officials from Greece's "troika" of lenders from the EU, European Central Bank and International Monetary Fund, whose inspectors have begun picking through the country's books after weeks of political paralysis.
  • Euro debt crisis: is complete pessimism justified?

    07/02/2012 10:29:31 PM PDT · by bruinbirdman · 7 replies
    The Telegraph ^ | 7/1/2012 | Roger Bootle
    <p>It isn’t only that the immediate outlook looks grim but also that they can apparently see no way out. Yet throughout the post-war period, economists have tended to think that there is always a way out – and they have been trained to try to find it. Is the current abject pessimism justified?</p>
  • Microsoft's Athens Office Firebombed

    06/29/2012 5:56:31 PM PDT · by DeaconBenjamin · 26 replies
    CNBC ^ | Wednesday, 27 Jun 2012 | 11:46 AM ET
    Gunmen driving a van packed with gas canisters firebombed the Athens headquarters of Microsoft on Wednesday. Fire gutted the ground floor of the blue four-story HQ of the U.S. software giant, blackening its walls with flames, on the eve of yet another European summit seeking a solution to a regional debt crisis first unleashed by Greece. At least two attackers were involved in the sophisticated assault at 4.45 a.m. in Maroussi, a northern suburb of the sprawling Greek capital, police said. Brandishing pistols and an automatic rifle, they kept security guards at bay and set fire to the van carrying...
  • Berlusconi Ratchets Up Pressure on Monti [Is Bunga Bunga Back?]

    06/28/2012 6:23:06 PM PDT · by bruinbirdman · 2 replies
    Spiegelonline ^ | 6/28/2012
    By commenting that Germany should perhaps leave the euro and exerting significant pressure on Prime Minister Mario Monti, former Italian premier Berlusconi is back in the headlines. Are his political escapades those of a senile billionaire or is he seriously thinking of returning to power? On Tuesday afternoon in Rome, Italian Prime Minister Mario Monti and his predecessor Silvio Berlusconi were sitting at a table with a few close associates. Monti, alarmed by Berlusconi's recent statements, which were sometimes threatening and sometimes confused, was seeking clarity. Monti said that in such a sensitive and decisive moment, Italy's parliament must stand...
  • The Whole World Will Revolve Around The Tiny Island Of Cyprus

    06/28/2012 6:35:58 AM PDT · by blam · 6 replies
    TBI ^ | 6-28-2012 | Wolf Richter, Testosterone Pit
    The Whole World Will Revolve Around The Tiny Island Of Cyprus Wolf Richter, Testosterone Pit Jun. 28, 2012, 8:41 AM Finland doesn’t get the white-hot attention Germany does, but it should because it could be the driving force behind a breakup of the Eurozone. And it fired another shot: it demanded collateral for its share of the billions of euros that Cyprus would receive from the bailout Troika. Cyprus is the fifth of 17 Eurozone countries to ask for a bailout. It’s panic time. The first tranche, €1.8 billion, is needed by June 30 to prop up its second largest...
  • French Still Want To Vacation Midst Financial Crisis

    06/27/2012 1:38:04 AM PDT · by Cincinna · 18 replies
    Despite the euro crisis becoming increasingly dire as European governments scramble to patch up the broken banking system in Spain and shore up sovereign debt and budget deficits, French citizens still overwhelmingly want to go on vacation this summer. According to an l’Institut Français d’Opinion Publique (IFOP) poll, 73 percent of French citizens — a sizeable increase from last year — are still considering going on vacation this summer, with nearly a quarter saying that vacations of “three weeks” are ideal. If you thought the French weren’t belt-tightening, however, you’d be wrong. More French citizens seem to prefer shorter vacations...
  • This Map Shows Which States Are The 'Greeces' Of America

    06/26/2012 3:42:36 PM PDT · by SeekAndFind · 17 replies
    Business Insider ^ | 06/26/2012 | Robe Wile
    Earlier today, Angela Merkel issued a dramatic ultimatum about sharing debt loads with other Eurozone countries. We've often discussed how this would actually be something of a silver bullet to solving Europe's PIGS problem. Now, we have a map that helps illustrate the point — thanks to our friends at the Economist, by way of Taegan Goddard and Matt Yglesias. Below you'll see the geography of net federal transfer payments in the U.S. by state. The more pink the state, the more it takes out of the federal pot than it puts in...(or, if you prefer, the more freeloading off...
  • Egan-Jones Downgrades Germany to A+ from AA-

    06/26/2012 2:35:55 PM PDT · by Oldeconomybuyer · 4 replies
    Wall Street Journal ^ | June 26, 2012 | By Stephen L. Bernard
    Egan-Jones Ratings Co. downgraded Germany's rating one notch Tuesday to single-A-plus. Regardless of whether Greece or other members of the 17-nation common currency bloc leave the euro zone, Germany will be left with "massive, additional, uncollectible receivables," Egan-Jones said in downgrading the country. The ratings company estimates that Germany is owed EUR700 billion, of which only about 50% is collectable. That figure doesn't include the exposure of Germany's banks to troubled countries in the euro zone. Egan-Jones's rating of Germany is four notches lower than the big three ratings firms', Standard & Poor's, Moody's Investors Service and Fitch Ratings, view...