Enough austerity. The government can afford to raise spending where that would help the economy.
By The Editors
7 Ιουλίου 2017, 9:39 π.μ. EEST
Bloomberg
Britain’s government isn’t due to announce a new budget until the autumn, but debate is already raging over public-sector pay. With Brexit bearing down, the embattled prime minister, Theresa May, will have to choose between making another embarrassing U-turn and defending a policy that is both unpopular and unnecessary.
Sadly for May, the U-turn makes better sense.
Friday, July 7, 2017
Greece Aims to Complete Former Athens Airport Deal by December
By REUTERSJULY 6, 2017, 6:42 A.M. E.D.T.
The New York Times
THENS — Greece aims to complete a deal on the former Athens airport of Hellenikon by December, the country's privatisations agency Chairwoman Lila Tsitsogiannopoulou said on Thursday.
A consortium of Abu Dhabi and Chinese investors backed by conglomerate Fosun, led by Greece's Lamda, signed a deal in 2014 to develop the Hellenikon coastal area, one of Europe's biggest real estate development projects.
The New York Times
THENS — Greece aims to complete a deal on the former Athens airport of Hellenikon by December, the country's privatisations agency Chairwoman Lila Tsitsogiannopoulou said on Thursday.
A consortium of Abu Dhabi and Chinese investors backed by conglomerate Fosun, led by Greece's Lamda, signed a deal in 2014 to develop the Hellenikon coastal area, one of Europe's biggest real estate development projects.
Tuesday, July 4, 2017
Greece fires at Turkish freighter in Aegean, Ankara protests
03-07-2017
Deusche Welle
Greece's coast guard has fired "warning shots" at a Turkish freight ship near Rhodes island, prompting a protest from Ankara. Greek police say they acted on an anonymous call that it was "transporting drugs."
Turkey's foreign ministry condemned Greece on Monday over the shooting that left no one injured - but 16 bullet holes in the freighter's hull, according to its captain.
The vessel, the M/V ACT, had left the southern Turkish port of Iskenderun, near the Syrian border, and was heading west to the Gulf of Izmit when, according to Greek coast guards, it entered Greek waters northeast of Rhodes island.
"Warning shots were fired but the ship did not change course," said the Greek coast guard.
Deusche Welle
Greece's coast guard has fired "warning shots" at a Turkish freight ship near Rhodes island, prompting a protest from Ankara. Greek police say they acted on an anonymous call that it was "transporting drugs."
Turkey's foreign ministry condemned Greece on Monday over the shooting that left no one injured - but 16 bullet holes in the freighter's hull, according to its captain.
The vessel, the M/V ACT, had left the southern Turkish port of Iskenderun, near the Syrian border, and was heading west to the Gulf of Izmit when, according to Greek coast guards, it entered Greek waters northeast of Rhodes island.
"Warning shots were fired but the ship did not change course," said the Greek coast guard.
Friday, June 30, 2017
Thursday, June 29, 2017
Greece Gets Investor Thumbs Up on Possible Return to Bond Market
By Sotiris Nikas and Anchalee Worrachate
29 Ιουνίου 2017, 5:04 π.μ. EEST
A new issuance in the second half looks increasingly possible
Government is in contact with investors to test the waters
Bloomberg
If Greece returns to the bond market this year, Mark Dowding would be a buyer.
“We have been bullish on Greece over the past year or so,” said the partner and portfolio manager at BlueBay Asset Management in London, which owns some long-dated Greek bonds. “We’ve also formed the view that lenders would remain committed to helping Greece. I feel relatively confident that Greece will be returning to market in the second half of this year.”
29 Ιουνίου 2017, 5:04 π.μ. EEST
A new issuance in the second half looks increasingly possible
Government is in contact with investors to test the waters
Bloomberg
If Greece returns to the bond market this year, Mark Dowding would be a buyer.
“We have been bullish on Greece over the past year or so,” said the partner and portfolio manager at BlueBay Asset Management in London, which owns some long-dated Greek bonds. “We’ve also formed the view that lenders would remain committed to helping Greece. I feel relatively confident that Greece will be returning to market in the second half of this year.”
Greece eyes market return as debt dispute still simmering
The Washington Post
Derek Gatopoulos | AP June 28 at 11:12 AM
LAGONISSI, Greece — Greece is on target to tap bond markets for money again by the end of this year and exit its bailout program next summer, European creditors said Wednesday.
But a spat with the International Monetary Fund over how to deal with the country’s enormous debt showed no sign of being resolved swiftly.
Derek Gatopoulos | AP June 28 at 11:12 AM
LAGONISSI, Greece — Greece is on target to tap bond markets for money again by the end of this year and exit its bailout program next summer, European creditors said Wednesday.
But a spat with the International Monetary Fund over how to deal with the country’s enormous debt showed no sign of being resolved swiftly.
Wednesday, June 28, 2017
Greece Says Needs to Step Up Privatisations
By REUTERSJUNE 28, 2017, 5:30 A.M. E.D.T.
The New York Times
ATHENS — Greece needs to step up its privatisation programme, deputy finance minister George Chouliarakis said on Wednesday.
Privatisations have been a main pillar of the country's international bailouts since 2010 but have reaped only 3.4 billion euros in revenues due to political resistance and red tape.
The New York Times
ATHENS — Greece needs to step up its privatisation programme, deputy finance minister George Chouliarakis said on Wednesday.
Privatisations have been a main pillar of the country's international bailouts since 2010 but have reaped only 3.4 billion euros in revenues due to political resistance and red tape.
Monday, June 26, 2017
Prime Real Estate On Fire Sale -- In Greece
Forbes
Panos Mourdoukoutas , CONTRIBUTOR
A deep and prolonged economic contraction has placed prime real estate on fire sale in Greece, creating good opportunities for bargain hunters. But they may not last too long.
Buying prime real estate is all about good location and good timing. Good location is usually a place with a limited amount of land for development, like a city center or a waterfront. Good timing is a period when real estate in these places goes on fire sale due to catastrophic events or prolonged economic contractions.
Panos Mourdoukoutas , CONTRIBUTOR
A deep and prolonged economic contraction has placed prime real estate on fire sale in Greece, creating good opportunities for bargain hunters. But they may not last too long.
Buying prime real estate is all about good location and good timing. Good location is usually a place with a limited amount of land for development, like a city center or a waterfront. Good timing is a period when real estate in these places goes on fire sale due to catastrophic events or prolonged economic contractions.
Wednesday, June 21, 2017
Europe's Unserious Plan for Greece
The latest deal on debt won’t work, and everybody knows it.
By The Editors
21 Ιουνίου 2017, 9:00 π.μ. EEST
Bloomberg
By The Editors
21 Ιουνίου 2017, 9:00 π.μ. EEST
- Grace periods come to an end. As interest rates creep up, Greece’s debt repayments will rise too. The perpetual primary surpluses creditors are demanding will squeeze the economy so hard that they’ll be self-defeating even in narrow fiscal terms.
Bloomberg
Brexit Bulletin: The New Political Reality
By Simon Kennedy and Robert Hutton
21 Ιουνίου 2017, 9:52 π.μ. EEST
Bloomberg
Prime Minister Theresa May will make her first attempt to engage with Britain’s new political landscape on Wednesday as she publishes a Brexit-heavy legislative program.
Queen Elizabeth II will read out the plan for the next two years. It’s set to include a bill designed to convert thousands of European Union rules into British law and another to regain control of trade policy from the bloc.
21 Ιουνίου 2017, 9:52 π.μ. EEST
Bloomberg
Prime Minister Theresa May will make her first attempt to engage with Britain’s new political landscape on Wednesday as she publishes a Brexit-heavy legislative program.
Queen Elizabeth II will read out the plan for the next two years. It’s set to include a bill designed to convert thousands of European Union rules into British law and another to regain control of trade policy from the bloc.
Rick Perry just denied that humans are the main cause of climate change
By Steven Mufson June 19
The Washington Post
Energy Secretary Rick Perry on Monday denied that man-made carbon dioxide emissions are the primary cause of climate change.
Asked in an interview on CNBC’s “Squawk Box” whether he believed that carbon dioxide was “the primary control knob for the temperature of the Earth and for climate,” Perry said that “No, most likely the primary control knob is the ocean waters and this environment that we live in.”
The Washington Post
Energy Secretary Rick Perry on Monday denied that man-made carbon dioxide emissions are the primary cause of climate change.
Asked in an interview on CNBC’s “Squawk Box” whether he believed that carbon dioxide was “the primary control knob for the temperature of the Earth and for climate,” Perry said that “No, most likely the primary control knob is the ocean waters and this environment that we live in.”
Tuesday, June 20, 2017
Greece says court decision not to extradite Turkish soldiers must be respected
Mon Jun 19, 2017 | 9:07am EDT
Reuters
A court ruling to not extradite eight Turkish soldiers who fled to Greece following the failed coup attempt last year must be respected, Greek Prime Minister Alexis Tsipras said on Monday.
His comments came at a joint news conference with his Turkish counterpart Binali Yildirim in Athens
"The Greek justice system has ruled on this issue ... and this decision must be fully respected," Tsipras said in response to a question.
Reuters
A court ruling to not extradite eight Turkish soldiers who fled to Greece following the failed coup attempt last year must be respected, Greek Prime Minister Alexis Tsipras said on Monday.
His comments came at a joint news conference with his Turkish counterpart Binali Yildirim in Athens
"The Greek justice system has ruled on this issue ... and this decision must be fully respected," Tsipras said in response to a question.
In Greece, China Finds an Ally Against Human Rights Criticism
By NICK CUMMING-BRUCE and SOMINI SENGUPTAJUNE 19, 2017
GENEVA — China has long won diplomatic allies in the world’s poor countries by helping them build expensive roads and ports. Now, it appears to have similarly won over a needy country in Europe.
At a meeting of the United Nations Human Rights Council this month in Geneva, the European Union sought to draw renewed attention to human rights abuses in China — only to be blocked by one of its member countries, Greece. A spokesman for the Greek Foreign Ministry in Athens called it “unproductive criticism.”
Monday, June 19, 2017
Greece’s Open Wound of Division
Nikos Konstandaras JUNE 16, 2017
The New York Times
ATHENS — Many Greeks were surprised when a mild-mannered former prime minister who tried to use unity and consensus to lead the country out of an economic and political impasse was seriously injured by a parcel bomb last month.
What followed was even worse: The attack was not greeted with unanimous condemnation, suggesting that Greece has a long way to go to heal divisions that were exacerbated by the economic crisis, that have shaped politics and that obstruct efforts to get Greece on its feet.
The New York Times
ATHENS — Many Greeks were surprised when a mild-mannered former prime minister who tried to use unity and consensus to lead the country out of an economic and political impasse was seriously injured by a parcel bomb last month.
What followed was even worse: The attack was not greeted with unanimous condemnation, suggesting that Greece has a long way to go to heal divisions that were exacerbated by the economic crisis, that have shaped politics and that obstruct efforts to get Greece on its feet.
EU's Wieser-Hope Greece Can Tap Markets by Spring 2018: ORF
By REUTERSJUNE 17, 2017, 7:30 A.M. E.D.T.
The New York Times
VIENNA — Thomas Wieser, the EU official who runs preparations for Eurogroup meetings, hopes Greece will be able to tap international markets for money between autumn this year and spring 2018, he told ORF radio on Saturday.
The New York Times
VIENNA — Thomas Wieser, the EU official who runs preparations for Eurogroup meetings, hopes Greece will be able to tap international markets for money between autumn this year and spring 2018, he told ORF radio on Saturday.
Greece blocks EU statement on China human rights at U.N.
Sun Jun 18, 2017 | 5:43pm EDT
Reuters
By Robin Emmott and Angeliki Koutantou | BRUSSELS/ATHENS
Greece has blocked a European Union statement at the United Nations criticizing China's human rights record, a decision EU diplomats said undermined efforts to confront Beijing's crackdown on activists and dissidents.
The EU, which seeks to promote free speech and end capital punishment around the world, was due to make its statement last week at the U.N. Human Rights Council in Geneva, but failed to win the necessary agreement from all 28 EU states.
Reuters
By Robin Emmott and Angeliki Koutantou | BRUSSELS/ATHENS
Greece has blocked a European Union statement at the United Nations criticizing China's human rights record, a decision EU diplomats said undermined efforts to confront Beijing's crackdown on activists and dissidents.
The EU, which seeks to promote free speech and end capital punishment around the world, was due to make its statement last week at the U.N. Human Rights Council in Geneva, but failed to win the necessary agreement from all 28 EU states.
Friday, June 16, 2017
E.U. Reaches Debt Deal for Greece Worth 8.5 Billion Euros
By JAMES KANTER and NIKI KITSANTONISJUNE 15, 2017
LUXEMBOURG — European Union officials agreed on Thursday to unlock loans of 8.5 billion euros for Greece, to ensure it meets huge payments on its debt next month.
The deal, reached by eurozone finance ministers, will ensure that Greece can pay about €7 billion, or $7.9 billion, next month on its towering pile of loans. If Greece defaulted on its debt, it could set off an economic crisis, reviving fears about the future of the eurozone.
The agreement included formal participation by the International Monetary Fund, said Jeroen Dijsselbloem, the president of the Eurogroup of finance minsters.
LUXEMBOURG — European Union officials agreed on Thursday to unlock loans of 8.5 billion euros for Greece, to ensure it meets huge payments on its debt next month.
The deal, reached by eurozone finance ministers, will ensure that Greece can pay about €7 billion, or $7.9 billion, next month on its towering pile of loans. If Greece defaulted on its debt, it could set off an economic crisis, reviving fears about the future of the eurozone.
The agreement included formal participation by the International Monetary Fund, said Jeroen Dijsselbloem, the president of the Eurogroup of finance minsters.
Thursday, June 15, 2017
Greece Declares Emergency After Earthquake Hits Lesbos
By NIKI KITSANTONIS
JUNE 13, 2017
The New York Times
ATHENS — The Greek government declared a state of emergency on the island of Lesbos on Tuesday, the day after a strong earthquake struck the island, killing a woman, injuring several people and leaving hundreds of residents homeless.
JUNE 13, 2017
The New York Times
ATHENS — The Greek government declared a state of emergency on the island of Lesbos on Tuesday, the day after a strong earthquake struck the island, killing a woman, injuring several people and leaving hundreds of residents homeless.
Israel’s prime minister in Greece to tout energy projects
By Costas Kantouris | AP June 15 at 8:40 AM
THESSALONIKI, Greece — Under heavy security, Israeli Prime Minister Benjamin Netanyahu visited northern Greece on Thursday to discuss plans to become a key supplier of European energy through an ambitious Mediterranean undersea natural gas pipeline project.
Netanyahu met with Greek Prime Minister Alexis Tsipras and Cypriot President Nicos Anastasiades in Thessaloniki, Greece’s second-largest city.
More than 3,500 police officers were deployed around the city, which historically had a large Jewish community that was almost wiped out during the Nazi occupation in World War II.
THESSALONIKI, Greece — Under heavy security, Israeli Prime Minister Benjamin Netanyahu visited northern Greece on Thursday to discuss plans to become a key supplier of European energy through an ambitious Mediterranean undersea natural gas pipeline project.
Netanyahu met with Greek Prime Minister Alexis Tsipras and Cypriot President Nicos Anastasiades in Thessaloniki, Greece’s second-largest city.
More than 3,500 police officers were deployed around the city, which historically had a large Jewish community that was almost wiped out during the Nazi occupation in World War II.
Greece to Get Some Cash-And Some Idea of Future Debt Relief
By REUTERSJUNE 15, 2017, 8:54 A.M. E.D.T.
The New York Times
LUXEMBOURG — Greece's international lenders prepared on Thursday to unblock as much as 8.5 billion euros (7.44 billion pounds) in loans that Athens desperately needs next month to pay its bills, and to give some idea of what debt relief they may offer over the long-term.
The chairman of euro zone finance ministers Jeroen Dijsselbloem told reporters the size of the payment to Athens would be discussed during the meeting, since lenders agreed that Greece had pushed through all the requested reforms.
The New York Times
LUXEMBOURG — Greece's international lenders prepared on Thursday to unblock as much as 8.5 billion euros (7.44 billion pounds) in loans that Athens desperately needs next month to pay its bills, and to give some idea of what debt relief they may offer over the long-term.
The chairman of euro zone finance ministers Jeroen Dijsselbloem told reporters the size of the payment to Athens would be discussed during the meeting, since lenders agreed that Greece had pushed through all the requested reforms.
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