Greece passes reform bill, government majority shrinks to two seats

BY ANGELIKI KOUTANTOU AND RENEE MALTEZOU

ATHENS Sun Mar 30, 2014 8:03pm EDT

(Reuters) - Greece approved on Monday a contentious reform bill to secure bailout aid but the government was forced to expel a dissenting lawmaker, reducing its majority in parliament to just two seats.

A total of 152 lawmakers backed the bill, which incorporates into Greek law hundreds of reform measures Athens agreed earlier this month with the European Union and the International Monetary Fund after more than six months of tough negotiations.

Kerry, Lavrov hold talks on de-escalating Ukraine crisis

BY LESLEY WROUGHTON AND ALEXEI ANISHCHUK

PARIS/MOSCOW Sun Mar 30, 2014 7:22pm EDT

(Reuters) - U.S. Secretary of State John Kerry and his Russian counterpart, Sergei Lavrov, discussed ways to defuse the Ukraine crisis during talks in Paris on Sunday in which Kerry made clear Washington still considered Russian actions in Crimea "illegal and illegitimate."

Yasou: Greece Is Pulling Off an Amazing Recovery

Bloomberg Businessweek

This chart tells a remarkable story. Just two years ago, Greece was on the ropes. The yield on the Greek government’s 10-year debt hit a punishing and unsustainable 30 percent. Today the yield is less than 7 percent—a sign that investors are increasingly confident of the nation’s ability to pay its debts. Rarely has a country repaired its image with creditors so quickly. The world’s attention has moved on since the Greek debt crisis (a lot has happened since), but it’s worth stopping for a moment to look at what went right, as well as the huge challenges that remain.

How to deal with Russia without reigniting a full-fledged Cold War psychology

By George P. Shultz and Sam Nunn, Published: March 27

George P. Shultz, a distinguished fellow at Stanford University’s Hoover Institution, was secretary of state from 1982 to 1989. Sam Nunn, a former U.S. senator from Georgia and chairman of the Armed Services Committee from 1987 to 1995, is co-chairman and CEO of the Nuclear Threat Initiative.

The Washington Post

Russia has taken over Crimea and threatens further aggression. Now is the time to act but also to think strategically. What basic strategic approach should the United States and its allies take, and how can that approach be implemented over time so that the tactical moves benefit our long-term interests? Is it possible to avoid the reemergence of a full-fledged Cold War psychology, which is encouraged by Russia developing an “I can get away with it” mentality?

Euro zone not preparing third Greek bailout so far: official

BY JAN STRUPCZEWSKI AND MARTIN SANTA

BRUSSELS Thu Mar 27, 2014 6:45pm EDT

(Reuters) - The euro zone is not making any preparations for a third bailout for Greece and will consider it only if expressly asked by Athens, which has not happened so far, a senior euro zone official said on Thursday.

Instead, the euro zone is now focusing on the timing and size of disbursements of badly delayed tranches of loans that have already been promised under the first two rescue packages, the official, directly involved in the Greek bailouts said.

Greece should get more aid from IMF after board review

WASHINGTON, March 27 Thu Mar 27, 2014 10:41am EDT

(Reuters) - The International Monetary Fund is likely to give Greece a bigger aid disbursement than usual after the board reviews the euro zone country's bailout program, likely in May, a Fund spokesman said on Thursday.

‘Ukraine’ or ‘the Ukraine’? It’s more controversial than you think.

BY KATIE ZEZIMA

March 25 at 2:40 pm

The Washington Post

When speaking about Ukraine, three seemingly innocuous letters can make a huge impact: the.

In recent weeks, politicians including President Obama and Mitt Romney have used the construction "the Ukraine" while speaking about that country and Russia's recent annexation of Crimea.

"And unfortunately, not having anticipated Russia's intentions, the president wasn't able to shape the kinds of events that may have been able to prevent the kinds of circumstances that you're seeing in the Ukraine," Romney said on CBS's "Face the Nation" Sunday.

Malaysian Leader Says Flight 370 Ended in Indian Ocean

By THOMAS FULLER and CHRIS BUCKLEYMARCH 24, 2014
The New York Times

PEARCE AIR FORCE BASE, Australia — Malaysia’s prime minister said Monday that further analysis of satellite data confirmed that the missing Malaysian airliner went down in the southern Indian Ocean with its passengers and crew. The announcement narrowed the search area but left many questions unanswered about why it flew to such a remote part of the world.

Experts had previously held out the possibility that the jet could have flown north instead, toward Central Asia, but the new data showed that it could have gone only south, said the prime minister, Najib Razak.

Acknowledging defeat, Ukraine pulls troops from Crimea

BY ALEKSANDAR VASOVIC AND GABRIELA BACZYNSKA

FEODOSIA/SIMFEROPOL, Ukraine Mon Mar 24, 2014 11:48am EDT

(Reuters) - Ukrainian troops and their families began evacuating from Crimea on Monday, as Kiev effectively acknowledged defeat by Russian forces who stormed one of the last of their remaining bases on the peninsula.

NATO says Russia has big force at Ukraine's border, worries over Transdniestria

BRUSSELS Sun Mar 23, 2014 7:25am EDT

(Reuters) - NATO's top military commander said on Sunday that Russia had a large force on Ukraine's eastern border and said he was worried it could pose a threat to Moldova's mainly Russian-speaking separatist Transdniestria region.

UPDATE 1-Greece's biggest bank turns to profit in 2013 on lower bad-loan provisions

Thu Mar 20, 2014 12:23pm EDT

Reuters

* National Bank posts net profit of 809 mln euros in 2013

* Bad-loan provisions drop 36 pct from previous year

* National reiterates it plans no equity offering to plug capital shortfall (Adds CEO comment, details)

Greek Sovereign Debt Rating Held at B- by S&P

By Marcus Bensasson  Mar 21, 2014 8:16 AM GMT+0200

Bloomberg

Greece’s credit rating was maintained at six steps below investment grade by Standard & Poor’s, which said the country’s debt remains large even as its government’s fiscal performance improves.

The country’s long-term local currency debt was kept at B-, with a stable outlook, S&P said in a statement.

China’s Rapid Growth Hits the Brakes

By NEIL GOUGHMARCH 18, 2014

The New York Times

HONG KONG — New pockets of economic weakness in China emerged on Tuesday, as the collapse of a highly indebted real estate developer and weak home sales pointed to a slowdown in the sprawling property sector.

The latest batch of difficulties add to the continuing debate over China’s commitment to economic reforms. While Beijing is pushing through initiatives to reform its economy, the worry is that the country’s slowing economy will prompt it to reverse course.

Greece Reaches Deal to Release Foreign Rescue Funds

By NIKI KITSANTONISMARCH 18, 2014

The New York Times

ATHENS — After seven months of faltering negotiations, Prime Minister Antonis Samaras said on Tuesday that Greece had reached a deal with its foreign lenders on economic reforms necessary to unlock billions of euros in crucial rescue funding. He also pledged to distribute 500 million euros to one million Greeks hit hardest by the country’s economic crisis.

Greek Bonds Lead Euro-Area Periphery Rally on Recovery Optimism

By Neal Armstrong and Lukanyo Mnyanda  Mar 18, 2014 6:24 PM GMT+0200

Bloomberg

Greece’s government bonds led gains among Europe’s higher-yielding sovereign securities as optimism that the country is set to sell coupon-bearing debt for the first time in four years boosted demand for its assets.

Ten-year bonds rose for a second day after Infrastructure Minister Michalis Chrisochoides said Greece will probably sell securities before May. Greece reached an agreement with its creditors after a review of its adjustment program, a European Union spokesman said. Athens-based Piraeus Bank SA (TPEIR) sold non-investment grade debt. German bunds erased a gain as President Vladimir Putin said Russia won’t further split up Ukraine, damping demand for the euro area’s safest assets.

Russia Sounds Alarm on Economic Crisis as West Imposes Sanctions

By Olga Tanas and Anna Andrianova  Mar 17, 2014 11:00 PM GMT+0200

Bloomberg

Russia’s economy is showing signs of a crisis, the government in Moscow said as the U.S. and the European Union announced sanctions over the country’s support for the Crimea region breaking away from Ukraine.

“The situation in the economy bears clear signs of a crisis,” Deputy Economy Minister Sergei Belyakov said in Moscow yesterday. The cabinet needs to refrain from raising the fiscal burden on companies, which would be the “wrong approach,” he said. “Taking money from companies and asking them afterward to modernize production is illogical and strange.”

From Russia, with Lavrov

Mar 17th 2014, 14:53 by Buttonwood

The Economist

           

THE big question for investors after the Crimean referendum (which in its one-sided result, only added to the 1930s parallels of the crisis) is what will be the extent of Western sanctions against Russia, and what will be Mr Putin's response. The latest figures from the Fed suggest that the Russians have been following the famous rugby tactic of "getting their retaliation in first". The Fed's custody holdings of Treasury securities fell by $104 billion in the week to March 12, with the sell-off generally attributed to Russian actions.

Portuguese Bonds Advance With Italy, Spain After Crimea’s Vote

By Lukanyo Mnyanda and Neal Armstrong  Mar 17, 2014 6:30 PM GMT+0200

Portugal’s government bonds rose as investors bet Crimea’s vote to leave Ukraine and join Russia won’t lead to serious conflict, boosting demand for the euro area’s higher-yielding assets.

Italian and Spanish securities also gained even as the U.S. and the European Union condemned the referendum and imposed sanctions on individuals in Russia. Greek bonds advanced as the nation was said to be approaching agreement with its creditors. German 10-year bunds, which rose last week by the most since September, declined. Portugal’s bonds have also been supported as the nation moves toward exiting a bailout program.

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16.03.2014 : 16:17

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Α Παπαχελάς

Εμείς οι Ελληνες δεν γνωρίζουμε σε βάθος την Ιστορία μας, παρά την υπερηφάνεια που νιώθουμε γι’ αυτήν. Ενα μεγάλο κομμάτι των συμπολιτών μας την έχει μάθει, κυρίως τη σύγχρονη Ιστορία, μέσα από ένα πολύ συγκεκριμένο πρίσμα, που παρουσιάζει την Ελλάδα πάντοτε κυνηγημένη και τους Ελληνες μονίμως αλάθητους. Αυτό το θεμελιώδες έλλειμμα ιστορικής γνώσης δικαιολογεί πολλά, μα πάρα πολλά, από τα ιδεολογήματα, τα στερεότυπα και τις θεωρίες συνωμοσίας που καταδυναστεύουν τον δημόσιο διάλογο και σκοτώνουν την κοινή λογική.

China's yuan dips in widened band, but scope for big swings seen limited

BY LU JIANXIN AND SAIKAT CHATTERJEE

SHANGHAI/HONG KONG Mon Mar 17, 2014 5:46am EDT

(Reuters) - China's yuan eased against the dollar on Monday after the central bank doubled the currency's daily trading band as part of its commitment to let markets play a greater role in the economy.

Yet the currency moved in a relatively narrow range reflecting market views that the People's Bank of China will seek to limit currency swings at a time when markets fret over China's cooling growth and the quality of corporate debt.