By DEREK WATKINS
UPDATED February 29, 2016
China has placed runways and radar facilities on new islets in the South China Sea, built by piling huge amounts of sand onto reefs. The construction is straining already taut geopolitical tensions
The New York Times
The speed and scale of China’s island-building spree in the South China Sea last year alarmed other countries with interests in the region. After announcing in June that the process of building seven new islands by moving sediment from the seafloor to reefs was almost done, China has focused its efforts on building ports, three airstrips, radar facilities and other military buildings on the islands. The installations bolster China’s foothold in the Spratly Islands, a disputed scattering of reefs and islands in the South China Sea more than 500 miles from the Chinese mainland.
China’s activity in the Spratlys is a major point of contention between China and the United States, and has prompted the White House to send Navy destroyers to patrol near the islands twice in recent months.
Tuesday, March 1, 2016
Greece's refugee crisis: PM says country is overwhelmed
Alexis Tsipras speaks out as Greece struggles to care for 30,000 trapped migrants and Brussels prepares urgent aid
The Guardian
The arrival of tens of thousands of refugees has plunged Greece into an unprecedented crisis the likes of which no nation could manage alone, the country’s embattled prime minister, Alexis Tsipras, has said.
Speaking as the European commission signalled it was putting together an urgent humanitarian aid package for the country after predictions that more than 200,000 men, women and children will be marooned there by summer, the leftwing leader said Brussels had promised “support and solidarity”.
“We are experiencing the biggest refugee crisis since the second world war,” he told Greek Star TV. “The problem surpasses the powers of the country, the strength of a government and the innate weaknesses of the European Union.”
The Guardian
The arrival of tens of thousands of refugees has plunged Greece into an unprecedented crisis the likes of which no nation could manage alone, the country’s embattled prime minister, Alexis Tsipras, has said.
Speaking as the European commission signalled it was putting together an urgent humanitarian aid package for the country after predictions that more than 200,000 men, women and children will be marooned there by summer, the leftwing leader said Brussels had promised “support and solidarity”.
“We are experiencing the biggest refugee crisis since the second world war,” he told Greek Star TV. “The problem surpasses the powers of the country, the strength of a government and the innate weaknesses of the European Union.”
Army's Delta Force begins to target ISIS in Iraq
Barbara Starr-Profile-Image
By Barbara Starr, CNN Pentagon Correspondent
Updated 2227 GMT (0627 HKT) February 29, 2016
CNN
Washington (CNN)The U.S. Army's elite Delta Force operations to target, capture or kill top ISIS operatives have begun in Iraq, after several weeks of covert preparation, an administration official with direct knowledge of the force's activities told CNN.
The official said the group has spent the last several weeks preparing, including setting up safe houses, establishing informant networks and coordinating operations with Iraqi and Peshmerga units. It's the same strategy that Special Operations forces have used in previous deployments to combat zones.
Several Pentagon and military officials declined to discuss specifics of the so-called Expeditionary Targeting Force with CNN.
But Defense Secretary Ash Carter seemed to confirm in comments made at the Pentagon on Monday that the Special Operations forces had begun missions.
By Barbara Starr, CNN Pentagon Correspondent
Updated 2227 GMT (0627 HKT) February 29, 2016
CNN
Washington (CNN)The U.S. Army's elite Delta Force operations to target, capture or kill top ISIS operatives have begun in Iraq, after several weeks of covert preparation, an administration official with direct knowledge of the force's activities told CNN.
The official said the group has spent the last several weeks preparing, including setting up safe houses, establishing informant networks and coordinating operations with Iraqi and Peshmerga units. It's the same strategy that Special Operations forces have used in previous deployments to combat zones.
Several Pentagon and military officials declined to discuss specifics of the so-called Expeditionary Targeting Force with CNN.
But Defense Secretary Ash Carter seemed to confirm in comments made at the Pentagon on Monday that the Special Operations forces had begun missions.
China's PMI Reports Show Slowdown Deepening as Services Slip
Bloomberg News
March 1, 2016 — 3:01 AM EET Updated on March 1, 2016 — 9:11 AM EET
Bloomberg
China's factory gauge extended its stretch of deteriorating conditions to a record seven months while a measure of services fell to the weakest in seven years, underscoring the challenge for policy makers as they seek to cut overcapacity in manufacturing without derailing growth.
The manufacturing purchasing managers index dropped to 49 in February, missing the median estimate of 49.4 in a Bloomberg News survey of economists. It hasn’t been weaker since January 2009. Numbers below 50 indicate conditions worsened. In a sign China’s slowdown is spreading, the non-manufacturing PMI -- which has been outperforming the factory measure -- fell to the lowest level since December 2008.
March 1, 2016 — 3:01 AM EET Updated on March 1, 2016 — 9:11 AM EET
Bloomberg
China's factory gauge extended its stretch of deteriorating conditions to a record seven months while a measure of services fell to the weakest in seven years, underscoring the challenge for policy makers as they seek to cut overcapacity in manufacturing without derailing growth.
The manufacturing purchasing managers index dropped to 49 in February, missing the median estimate of 49.4 in a Bloomberg News survey of economists. It hasn’t been weaker since January 2009. Numbers below 50 indicate conditions worsened. In a sign China’s slowdown is spreading, the non-manufacturing PMI -- which has been outperforming the factory measure -- fell to the lowest level since December 2008.
Violence Erupts in Greece as Migrants Try to Cross Into Macedonia
By LIZ ALDERMAN and DIMITRIS BOUNIASFEB. 29, 2016
ATHENS — It was a scene of a type that could become all too common in coming months: Thousands of increasingly desperate people backed up at the frontier between Greece and Macedonia on Monday, stymied in their efforts to reach Germany. A group of angry asylum seekers busted through a razor-wire fence. Armed police officers fired tear gas as frenzied crowds chanted, “Open the border!”
Less than a week after Austria and nine other European countries took steps to stem the flow of refugees from Greece toward Germany and other prosperous countries, the spasm of violence on Greece’s northern border brought to life the perils of the European Union’s inability so far to settle on a common policy to address the migration crisis.
War in Syria, Iraq and Afghanistan, and repression and economic hardship across the Middle East and Africa continue to compel large numbers of people to strike out for Europe. Germany continues to signal that it will accept legitimate refugees, especially from Syria. As the weather grows warmer and the sea crossing from Turkey to Greece safer, the number of people arriving is expected to spike, putting a huge strain on Greece, which in effect is becoming a giant holding center for migrants who cannot go forward because of the new border restrictions, but will not or cannot go back.
ATHENS — It was a scene of a type that could become all too common in coming months: Thousands of increasingly desperate people backed up at the frontier between Greece and Macedonia on Monday, stymied in their efforts to reach Germany. A group of angry asylum seekers busted through a razor-wire fence. Armed police officers fired tear gas as frenzied crowds chanted, “Open the border!”
Less than a week after Austria and nine other European countries took steps to stem the flow of refugees from Greece toward Germany and other prosperous countries, the spasm of violence on Greece’s northern border brought to life the perils of the European Union’s inability so far to settle on a common policy to address the migration crisis.
War in Syria, Iraq and Afghanistan, and repression and economic hardship across the Middle East and Africa continue to compel large numbers of people to strike out for Europe. Germany continues to signal that it will accept legitimate refugees, especially from Syria. As the weather grows warmer and the sea crossing from Turkey to Greece safer, the number of people arriving is expected to spike, putting a huge strain on Greece, which in effect is becoming a giant holding center for migrants who cannot go forward because of the new border restrictions, but will not or cannot go back.
Monday, February 29, 2016
Migrant crisis: Greece needs EU help to avoid chaos, says Merkel
6 hours ago
From the section Europe
BBC
Europe cannot allow Greece to fall into "chaos", German Chancellor Angela Merkel says, amid sharp divisions among members over the migrant crisis.
Austria and several Balkan countries have introduced restrictions stranding migrants in Greece.
Mrs Merkel said EU nations had not battled to keep Greece in the euro just to leave it "in the lurch".
She also defended her decision to open German borders to migrants, despite a resulting slump in her popularity.
More than one million people arrived to claim asylum last year, sparking opposition within her governing coalition and a rise in far-right extremism.
From the section Europe
BBC
Europe cannot allow Greece to fall into "chaos", German Chancellor Angela Merkel says, amid sharp divisions among members over the migrant crisis.
Austria and several Balkan countries have introduced restrictions stranding migrants in Greece.
Mrs Merkel said EU nations had not battled to keep Greece in the euro just to leave it "in the lurch".
She also defended her decision to open German borders to migrants, despite a resulting slump in her popularity.
More than one million people arrived to claim asylum last year, sparking opposition within her governing coalition and a rise in far-right extremism.
Sunday, February 28, 2016
Greece becoming 'migrant warehouse' as refugees slowly trickle into Macedonia
Published February 28, 2016
Associated Press
ATHENS, Greece – Greece is fast becoming the "warehouse of human beings" that its government has vowed not to allow.
Hastily setup camps for refugees and other migrants are full. Thousands of people wait through the night, shivering in the cold at the Greek-Macedonian border, in the country's main port of Piraeus, in squares dotted around Athens, or on dozens of buses parked up and down Greece's main north-south highway.
On Thursday, hundreds of frustrated men, women and children abandoned their stranded buses or left refugee camps, setting off on a desperate trek dozens of kilometers (miles) long to reach a border they know is quickly shutting down to them.
Associated Press
ATHENS, Greece – Greece is fast becoming the "warehouse of human beings" that its government has vowed not to allow.
Hastily setup camps for refugees and other migrants are full. Thousands of people wait through the night, shivering in the cold at the Greek-Macedonian border, in the country's main port of Piraeus, in squares dotted around Athens, or on dozens of buses parked up and down Greece's main north-south highway.
On Thursday, hundreds of frustrated men, women and children abandoned their stranded buses or left refugee camps, setting off on a desperate trek dozens of kilometers (miles) long to reach a border they know is quickly shutting down to them.
Up to 70,000 migrants may be trapped in Greece next month: migration minister
Sun Feb 28, 2016 8:59am EST Related: WORLD, GREECE
ATHENS
Reuters
The number of refugees and migrants trapped in Greece may reach 70,000 in coming weeks, Greece's migration minister said on Sunday, adding that a NATO plan to crack down on smugglers could limit migrant flows significantly.
Greece, a primary gateway to Europe for tens of thousands of people fleeing war in the Middle East and beyond, has been inundated with refugees and migrants after border shutdowns through the Balkans, stranding thousands in the country in the past ten days.
"We estimate that we will have a number of people trapped in our country which will be between 50,000 and 70,000... I believe in the coming month," Migration Minister Yannis Mouzalas told Greek Mega TV.
ATHENS
Reuters
The number of refugees and migrants trapped in Greece may reach 70,000 in coming weeks, Greece's migration minister said on Sunday, adding that a NATO plan to crack down on smugglers could limit migrant flows significantly.
Greece, a primary gateway to Europe for tens of thousands of people fleeing war in the Middle East and beyond, has been inundated with refugees and migrants after border shutdowns through the Balkans, stranding thousands in the country in the past ten days.
"We estimate that we will have a number of people trapped in our country which will be between 50,000 and 70,000... I believe in the coming month," Migration Minister Yannis Mouzalas told Greek Mega TV.
Saturday, February 27, 2016
Refugees in Greece
No way out
Greece starts to fill up as its neighbours restrict the flow of migrants to Germany
Feb 27th 2016 | ATHENS | From the print edition
The Economist
HIS sleeping bag around his shoulders, Khaled, a 28-year-old truck driver, sits in a corner of Victoria Square, a gathering point for migrants in central Athens. He is waiting for a smuggler to help him cross Greece’s northern border with Macedonia, closed since February 21st to Afghan migrants like him. Across the square, Mahmud, a restaurant manager who has come from Aleppo with his wife and three children, fears that the route to Germany may soon close for Syrians too. “We mustn’t get stuck in Greece,” he says firmly.
Greece starts to fill up as its neighbours restrict the flow of migrants to Germany
Feb 27th 2016 | ATHENS | From the print edition
The Economist
HIS sleeping bag around his shoulders, Khaled, a 28-year-old truck driver, sits in a corner of Victoria Square, a gathering point for migrants in central Athens. He is waiting for a smuggler to help him cross Greece’s northern border with Macedonia, closed since February 21st to Afghan migrants like him. Across the square, Mahmud, a restaurant manager who has come from Aleppo with his wife and three children, fears that the route to Germany may soon close for Syrians too. “We mustn’t get stuck in Greece,” he says firmly.
Truce halts most Syria fighting; Russia stops flights
Sat Feb 27, 2016 7:48am EST Related: WORLD, UNITED NATIONS, SYRIA
BEIRUT | BY TOM PERRY AND MARIAM KAROUNY
Reuters
Fighting mostly stopped across western and northern Syria on Saturday and Russia halted its air raids, under a cessation of hostilities which the United Nations called the best hope for peace since civil war began five years ago.
Under the U.S.-Russian accord accepted by President Bashar al-Assad's government and many of his enemies, fighting should cease so aid can reach civilians and talks can open to end a war that has killed more than 250,000 people and made 11 million homeless.
Russia, which says it intends to continue strikes against areas held by Islamist fighters that are not covered by the truce, said it would suspend all flights over Syria for the day on Saturday to ensure no wrong targets were hit by mistake.
BEIRUT | BY TOM PERRY AND MARIAM KAROUNY
Reuters
Fighting mostly stopped across western and northern Syria on Saturday and Russia halted its air raids, under a cessation of hostilities which the United Nations called the best hope for peace since civil war began five years ago.
Under the U.S.-Russian accord accepted by President Bashar al-Assad's government and many of his enemies, fighting should cease so aid can reach civilians and talks can open to end a war that has killed more than 250,000 people and made 11 million homeless.
Russia, which says it intends to continue strikes against areas held by Islamist fighters that are not covered by the truce, said it would suspend all flights over Syria for the day on Saturday to ensure no wrong targets were hit by mistake.
The Russia-Armenia alliance is threatening Turkey, a critical U.S. ally
The Washington Post
February 26 at 5:35 PM
The Feb. 21 front-page article “For Turkey, high stakes as troubles intensify” highlighted a critical development: The growing military alliance between Russia and Armenia is threatening Turkey, an indispensable U.S. ally and partner in the fight against the Islamic State.
February 26 at 5:35 PM
The Feb. 21 front-page article “For Turkey, high stakes as troubles intensify” highlighted a critical development: The growing military alliance between Russia and Armenia is threatening Turkey, an indispensable U.S. ally and partner in the fight against the Islamic State.
Balkans Crimp Refugee Flow After Greece Warns of Disaster
Boris Cerni Jasmina Kuzmanovic
February 26, 2016 — 3:50 PM EET Updated on February 26, 2016 — 4:33 PM EET
Bloomberg
Slovenia and Croatia cut the number of refugees they’ll let across their borders, potentially bottling up migrants arriving in Greece in what that country’s government warned could create a humanitarian disaster.
Slovenia told neighboring Croatia that it can accept only 580 refugees a day, a fraction of the thousands of people fleeing war and poverty in the Middle East who have been crossing the country’s borders daily.
Migration Crisis Complicates Greece’s Efforts to Finish Bailout Negotiations
Struggle on two sides risks fragile government of Prime Minister Alexis Tsipras
By NEKTARIA STAMOULI and MARCUS WALKER
Feb. 26, 2016 5:26 a.m. ET
The Wall Street Journal
ATHENS—A new deadlock over Greece’s finances is complicating last year’s brittle bailout deal, just as the country nears a showdown with the rest of Europe over efforts that would keep migrants stuck within its borders.
The struggle on two fronts risks overwhelming the fragile government under Prime Minister Alexis Tsipras and his ruling left-wing Syriza party, which barely managed to keep Greece in the euro last summer, even before the migration crisis deepened the strains between Greece and the rest of Europe.
The International Monetary Fund says it can’t lend to Greece without radical spending cuts by Athens or costly debt forgiveness by Berlin. Greece’s key European interlocutor, German Chancellor Angela Merkel, is under such political pressure at home over barely controlled migration inflows that she’s less able than before to take an unpopular stand over Greece’s debt woes.
By NEKTARIA STAMOULI and MARCUS WALKER
Feb. 26, 2016 5:26 a.m. ET
The Wall Street Journal
ATHENS—A new deadlock over Greece’s finances is complicating last year’s brittle bailout deal, just as the country nears a showdown with the rest of Europe over efforts that would keep migrants stuck within its borders.
The struggle on two fronts risks overwhelming the fragile government under Prime Minister Alexis Tsipras and his ruling left-wing Syriza party, which barely managed to keep Greece in the euro last summer, even before the migration crisis deepened the strains between Greece and the rest of Europe.
The International Monetary Fund says it can’t lend to Greece without radical spending cuts by Athens or costly debt forgiveness by Berlin. Greece’s key European interlocutor, German Chancellor Angela Merkel, is under such political pressure at home over barely controlled migration inflows that she’s less able than before to take an unpopular stand over Greece’s debt woes.
Greece Scrambles to House Stranded Migrants as Numbers Grow
Greek officials are looking to convert military sites, ferries into shelters
The Wall Street Journal
By STELIOS BOURAS and NEKTARIA STAMOULI
Feb. 26, 2016 10:53 a.m. ET
ATHENS—Greece was moving Friday to convert military facilities and ferries into temporary housing for the thousands of migrants who continue to pour into the country even as exit routes to the north are closing.
Greek officials estimated the number of migrants stranded in the country has doubled in the past few days to around 20,000, after Austria and several Balkan countries coordinated a tightening of their borders and started to send back Afghan migrants.
The Wall Street Journal
By STELIOS BOURAS and NEKTARIA STAMOULI
Feb. 26, 2016 10:53 a.m. ET
ATHENS—Greece was moving Friday to convert military facilities and ferries into temporary housing for the thousands of migrants who continue to pour into the country even as exit routes to the north are closing.
Greek officials estimated the number of migrants stranded in the country has doubled in the past few days to around 20,000, after Austria and several Balkan countries coordinated a tightening of their borders and started to send back Afghan migrants.
Wednesday, February 24, 2016
Austria hosts Balkan refugee conference without Greece
Austria has defended holding a refugee summit with West Balkan states without inviting Greece. Athens, however, has filed an official complaint with Austria, calling the meeting "non-friendly" and anti-European.
Deutsche Welle
Tensions are running high between Austria and Greece ahead of a conference in Vienna on Wednesday to discuss strategies to reduce migrant flows. Leaders from nine west Balkan states along the so-called Balkan route will attend the summit, but refugee-clogged Greece was not invited.
"These meetings (with the western Balkan states) take place within a format and with fixed participants," interior ministry spokesman Karl-Heinz Grundboeck told news agency AFP.
Wednesday's conference, entitled "Managing Migration Together" will include foreign and interior ministers from Albania, Bosnia, Bulgaria, Croatia, Kosovo, Macedonia, Montenegro, Serbia and Slovenia.
The ministers are set to discuss issues like border management and how to combat human smugglers, as well as improving the flow of information concerning their country's policies.
The Vienna conference will also attempt to create unified positions ahead of Thursday's EU interior ministers meeting, an official close to the talks said to news agency DPA.
Deutsche Welle
Tensions are running high between Austria and Greece ahead of a conference in Vienna on Wednesday to discuss strategies to reduce migrant flows. Leaders from nine west Balkan states along the so-called Balkan route will attend the summit, but refugee-clogged Greece was not invited.
"These meetings (with the western Balkan states) take place within a format and with fixed participants," interior ministry spokesman Karl-Heinz Grundboeck told news agency AFP.
Wednesday's conference, entitled "Managing Migration Together" will include foreign and interior ministers from Albania, Bosnia, Bulgaria, Croatia, Kosovo, Macedonia, Montenegro, Serbia and Slovenia.
The ministers are set to discuss issues like border management and how to combat human smugglers, as well as improving the flow of information concerning their country's policies.
The Vienna conference will also attempt to create unified positions ahead of Thursday's EU interior ministers meeting, an official close to the talks said to news agency DPA.
Questions Linger Over Russia’s Endgame in Syria, Ukraine and Europe
By NEIL MacFARQUHARFEB. 23, 2016
The New York Times
MOSCOW — The partial truce that Russia and the United States have thrashed out in Syria capped something of a foreign policy trifecta for President Vladimir V. Putin, with the Kremlin strong-arming itself into a pivotal role in the Middle East, Ukraine floundering and the European Union developing cracks like a badly glazed pot.
Beyond what could well be a high point for Mr. Putin, however, lingering questions about Russia’s endgame arise in all three directions.
The New York Times
MOSCOW — The partial truce that Russia and the United States have thrashed out in Syria capped something of a foreign policy trifecta for President Vladimir V. Putin, with the Kremlin strong-arming itself into a pivotal role in the Middle East, Ukraine floundering and the European Union developing cracks like a badly glazed pot.
Beyond what could well be a high point for Mr. Putin, however, lingering questions about Russia’s endgame arise in all three directions.
Refugee arrivals in Greece exceed 100,000 in less than two months
Figure was not reached until end of June last year, and rate of arrivals this year expected to climb further as weather improves
The Guardian
23-2-2016
More than 100,000 refugees and migrants have arrived in Europe so far this year, at triple the rate of arrivals over the first half of 2015.
At least 102,500 have arrived on the Greek islands of Samos, Kos and Lesbos, according to the International Organisation for Migration (IOM). Another 7,500 have reached Italy, and in the first six weeks of the year 411 people are known to have died attempting to make the journey.
In 2015 the threshold of 100,000 arrivals was not reached until the end of June. As spring approaches and the weather improves, the rate of arrivals this year is expected to climb further.
The Guardian
23-2-2016
More than 100,000 refugees and migrants have arrived in Europe so far this year, at triple the rate of arrivals over the first half of 2015.
At least 102,500 have arrived on the Greek islands of Samos, Kos and Lesbos, according to the International Organisation for Migration (IOM). Another 7,500 have reached Italy, and in the first six weeks of the year 411 people are known to have died attempting to make the journey.
In 2015 the threshold of 100,000 arrivals was not reached until the end of June. As spring approaches and the weather improves, the rate of arrivals this year is expected to climb further.
Clashes Erupt in Greece as Macedonia Bars Afghan Asylum Seekers
By LIZ ALDERMANFEB. 23, 2016
The New York Times
PARIS — A decision by the Macedonian authorities to block thousands of Afghan asylum seekers from crossing into the country from Greece set off clashes between migrants and the police on Tuesday, highlighting the challenges facing European nations as they seek to check the flow of people to the Continent.
Greek riot police officers forcibly removed groups of Afghan protesters from train tracks at a migrant camp in Idomeni, Greece, a crossing point to Macedonia and a gateway toward Northern Europe, after Macedonia abruptly announced that Afghans would be classified as economic migrants, disqualifying them from political asylum.
The New York Times
PARIS — A decision by the Macedonian authorities to block thousands of Afghan asylum seekers from crossing into the country from Greece set off clashes between migrants and the police on Tuesday, highlighting the challenges facing European nations as they seek to check the flow of people to the Continent.
Greek riot police officers forcibly removed groups of Afghan protesters from train tracks at a migrant camp in Idomeni, Greece, a crossing point to Macedonia and a gateway toward Northern Europe, after Macedonia abruptly announced that Afghans would be classified as economic migrants, disqualifying them from political asylum.
Tuesday, February 23, 2016
If Sterling Goes Down on `Brexit,' It's Taking the Euro With It
Eshe Nelson
Manisha Jha
Chiara Albanese
February 23, 2016 — 2:00 AM EET Updated on February 23, 2016 — 12:36 PM EET
Bloomberg
Britain’s referendum on its membership in the European Union isn’t just a threat to the pound. It’s raising currency-market risks across the continent.
While the pound led declines among major currencies on Monday with its biggest slide since 2010, the euro had the second-largest drop, weighed down by signs of slowing growth. The cost of options protecting against losses on Europe’s 19-nation currency also jumped. The U.K.’s potential exit may damage trade and encourage other members to renegotiate their relationship with the EU, signaling scope for further losses in the euro in the run-up to Britain’s June 23 referendum.
Manisha Jha
Chiara Albanese
February 23, 2016 — 2:00 AM EET Updated on February 23, 2016 — 12:36 PM EET
Bloomberg
Britain’s referendum on its membership in the European Union isn’t just a threat to the pound. It’s raising currency-market risks across the continent.
While the pound led declines among major currencies on Monday with its biggest slide since 2010, the euro had the second-largest drop, weighed down by signs of slowing growth. The cost of options protecting against losses on Europe’s 19-nation currency also jumped. The U.K.’s potential exit may damage trade and encourage other members to renegotiate their relationship with the EU, signaling scope for further losses in the euro in the run-up to Britain’s June 23 referendum.
Greece's War of Words With Eldorado Escalates on Shorting Charge
Nikos Chrysoloras
Paul Tugwell
Bloomberg
February 23, 2016 — 9:19 AM EET
Greek Energy Minister Panos Skourletis says Eldorado Gold Corp. Chief Executive Officer Paul Wright shorted the shares of his own company, comments the miner dismissed as “utter nonsense,” as tensions mount between the Canadian company and the government in Athens.
Eldorado shares fell 19 percent to C$3.53 on Jan. 12 in Toronto, the biggest one-day decline since December 2008, after Wright announced at a press conference in Athens that the company was suspending its investment plans for its Greek mines, blaming the attitude of the government.
Paul Tugwell
Bloomberg
February 23, 2016 — 9:19 AM EET
Greek Energy Minister Panos Skourletis says Eldorado Gold Corp. Chief Executive Officer Paul Wright shorted the shares of his own company, comments the miner dismissed as “utter nonsense,” as tensions mount between the Canadian company and the government in Athens.
Eldorado shares fell 19 percent to C$3.53 on Jan. 12 in Toronto, the biggest one-day decline since December 2008, after Wright announced at a press conference in Athens that the company was suspending its investment plans for its Greek mines, blaming the attitude of the government.
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