Wed May 24, 2017 | 9:24am EDT
Reuters
By Gernot Heller | BERLIN
Greece will not need any debt relief from euro zone governments if it keeps its primary surplus above 3 percent of GDP for 20 years, a confidential paper prepared by the euro zone bailout fund, the European Stability Mechanism (ESM), showed.
The paper, obtained by Reuters, was prepared for euro zone finance ministers and International Monetary Fund talks last Monday, which ended without an agreement due to diverging IMF and euro zone assumptions on future Greek growth and surpluses.
Thursday, May 25, 2017
Wednesday, May 24, 2017
BlueBay Turns Short Pound as 'All Roads' Point to Hard Brexit
by Anooja Debnath
24 May 2017, 7:00 π.μ. EEST
Bloomberg
Sterling could drop to $1.20 toward end of this year: Dowding
Bundesbank’s Dombret says Brexit to be hard or very hard
The pound is heading lower whatever the outcome of the U.K.’s elections, according to BlueBay Asset Management.
24 May 2017, 7:00 π.μ. EEST
Bloomberg
Sterling could drop to $1.20 toward end of this year: Dowding
Bundesbank’s Dombret says Brexit to be hard or very hard
The pound is heading lower whatever the outcome of the U.K.’s elections, according to BlueBay Asset Management.
New deadline for Greece set after another stalemate
By Pan Pylas | AP May 23 at 8:26 AM
The Washington Post
BRUSSELS — Hopes for a breakthrough in negotiations for cash-strapped Greece were dashed again and another deadline was set.
Greece once again failed to get approval from its European creditors to receive the next batch of bailout loans that it needs to meet a debt repayment hump this summer. It also failed to secure an agreement on the sort of debt relief measures it can expect to get when its current bailout program ends next year.
The Washington Post
BRUSSELS — Hopes for a breakthrough in negotiations for cash-strapped Greece were dashed again and another deadline was set.
Greece once again failed to get approval from its European creditors to receive the next batch of bailout loans that it needs to meet a debt repayment hump this summer. It also failed to secure an agreement on the sort of debt relief measures it can expect to get when its current bailout program ends next year.
Greece Has the Resources to Heal Itself
But it will have to curb tax evasion or remain an eternal ward of the euro zone.
By Leonid Bershidsky
Bloomberg
23 May 2017
The euro area's finance ministers again failed to come to an agreement on debt relief for Greece. No surprise there. Hammering out the details would force them to accept an uncomfortable reality: Greece won't be ready to tap private debt markets for years to come. In the meantime, if it wants to get off life support, it will have to find a way to cut tax evasion.
By Leonid Bershidsky
Bloomberg
23 May 2017
The euro area's finance ministers again failed to come to an agreement on debt relief for Greece. No surprise there. Hammering out the details would force them to accept an uncomfortable reality: Greece won't be ready to tap private debt markets for years to come. In the meantime, if it wants to get off life support, it will have to find a way to cut tax evasion.
Lone wolf or complex plot? Analysing the Manchester bombing
The use of an improvised bomb may suggest a more elaborate plan than other recent attacks
Economist
Britain
May 23rd 2017
DETAILS of the Manchester Arena bombing are slowly emerging. Islamic State has claimed responsibility for the attack. The police have confirmed that the murderous act last night was carried out by a single suicide-bomber who detonated an improvised explosive device packed with shrapnel in a crowded foyer. He has been named as Salman Abedi, reportedly a Manchester-born 22-year-old with family of Libyan origin. Separately, a 23-year-old man has been arrested in a Manchester suburb in connection with the crime. Wrenching photos of the first young victims and missing concert-goers have been posted online.
What an Attack at an Ariana Grande Show Means for Teen Girls
By NATALIE SHUTLERMAY 23, 2017
The New York Times
The pink balloons, floating above the maelstrom of panicked concertgoers, are what struck me first. Images of innocence, bumping along above hordes of shrieking children, many of whom refused to release their balloons even as they fled the arena.
Do you remember your first pop concert? That first time you watched a female hero belt it out onstage without apologies? I was in eighth grade when my dad agreed to drive me and my best friend to see Garbage, a Scottish pop band led by the coolest woman of all time, Shirley Manson. Her anger, confidence and sexuality stood in for stirrings of teenage passion that I had no way to express. I was awkward and insecure — weren’t we all? — but when I stood in the presence of a woman who stared down the system with a growl in her voice, I forgot about how weird it felt to be 13.
The New York Times
The pink balloons, floating above the maelstrom of panicked concertgoers, are what struck me first. Images of innocence, bumping along above hordes of shrieking children, many of whom refused to release their balloons even as they fled the arena.
Do you remember your first pop concert? That first time you watched a female hero belt it out onstage without apologies? I was in eighth grade when my dad agreed to drive me and my best friend to see Garbage, a Scottish pop band led by the coolest woman of all time, Shirley Manson. Her anger, confidence and sexuality stood in for stirrings of teenage passion that I had no way to express. I was awkward and insecure — weren’t we all? — but when I stood in the presence of a woman who stared down the system with a growl in her voice, I forgot about how weird it felt to be 13.
British prime minister raises nation’s threat level, saying another attack ‘may be imminent’
The Washington Post
By Griff Witte, Karla Adam and Souad Mekhennet May 23 at 5:32 PM
MANCHESTER, England — British Prime Minister Theresa May on Tuesday night raised the nation’s threat level and deployed the military to guard concerts, sports matches and other public events, saying another attack “may be imminent” following a bombing Monday night that left 22 people dead.
The announcement, which takes Britain’s alert level from “severe” to its highest rating, “critical,” clears the way for thousands of British troops to take to the streets and replace police officers in guarding key sites.
Monday, May 22, 2017
Did Donald Trump brief the Russians?
Another scandal in the Oval Office—and it’s a big one
The Economist
Democracy in America
May 16th 2017by J.A. | WASHINGTON, DC
DONALD TRUMP‘S decision to sack James Comey as FBI director on May 9th seemed to many like a defining moment in his chaotic early stab at governing. Even some Republicans wondered whether it could spell the beginning of an early end to Mr Trump’s crisis-ridden presidency. But already that looks like last week’s story—following claims, first published by the Washington Post on May 15th, that Mr Trump divulged highly classified information to Russia’s foreign minister and ambassador to Washington, DC, in the Oval Office.
German foreign minister Gabriel demanded debt relief for Greece
Deutsche Welle
22-05-2017
Shortly before an Euro Group meeting, German foreign minister Sigmar Gabriel demanded debt relief for Greece. Indirectly, Gabriel is standing up against fellow German cabinet minister Wolfgang Schäuble.
See video of Mr Gabriel's speech here:http://www.dw.com/en/german-foreign-minister-gabriel-demanded-debt-relief-for-greece/av-38930200
Greek Creditors Seek to Break Impasse on Stalled Bailout Review
by Viktoria Dendrinou
21 May 2017, 4:11 μ.μ. EEST
Euro-area finance ministers gather in Brussels on Monday to try to clinch a deal on easing Greece’s debt burden, which would resolve a stalled review of the country’s bailout and pave the way for a new set of rescue loans.
While Greece and its bailout supervisors have agreed on economic overhauls, the completion of the country’s review has been held back by disagreements between key creditors over how much debt relief is needed.
21 May 2017, 4:11 μ.μ. EEST
Euro-area finance ministers gather in Brussels on Monday to try to clinch a deal on easing Greece’s debt burden, which would resolve a stalled review of the country’s bailout and pave the way for a new set of rescue loans.
While Greece and its bailout supervisors have agreed on economic overhauls, the completion of the country’s review has been held back by disagreements between key creditors over how much debt relief is needed.
Tuesday, May 16, 2017
Greece cuts 2017 growth forecast
Sat May 13, 2017 | 5:24pm EDT
Reuters
Greece cut its 2017 growth forecast to 1.8 percent from 2.7 percent, according to a mid-term budget plan unveiled late on Saturday, driven by uncertainty caused by delays in concluding the latest review of bailout reforms.
Greece and its foreign creditors reached a deal on reforms in early May after six months of tense negotiations but the wrangling hurt economic activity. The Greek central bank governor had warned the delays could hobble economic recovery.
Reuters
Greece cut its 2017 growth forecast to 1.8 percent from 2.7 percent, according to a mid-term budget plan unveiled late on Saturday, driven by uncertainty caused by delays in concluding the latest review of bailout reforms.
Greece and its foreign creditors reached a deal on reforms in early May after six months of tense negotiations but the wrangling hurt economic activity. The Greek central bank governor had warned the delays could hobble economic recovery.
China's Xi offers indebted Greece strong support
Sat May 13, 2017 | 12:50am EDT
Reuters
Chinese President Xi Jinping offered the prime minister of deeply indebted Greece strong support on Saturday, saying the two countries should expand cooperation in infrastructure, energy and telecommunications.
Xi told Prime Minister Alexis Tsipras that Greece was an important part in China's new Silk Road strategy.
"At present, China and Greece's traditional friendship and cooperation continues to glow with new dynamism," China's Foreign Ministry cited Xi as saying.
Reuters
Chinese President Xi Jinping offered the prime minister of deeply indebted Greece strong support on Saturday, saying the two countries should expand cooperation in infrastructure, energy and telecommunications.
Xi told Prime Minister Alexis Tsipras that Greece was an important part in China's new Silk Road strategy.
"At present, China and Greece's traditional friendship and cooperation continues to glow with new dynamism," China's Foreign Ministry cited Xi as saying.
Friday, May 12, 2017
Συνέντευξη του Ιβάν Σαββίδη στο Πρώτο Θέμα 02-05-2017
Ιβάν Σαββίδης: Ο Τσίπρας στη Βουλή μου θύμισε τον Πούτιν
Δημήτρης Μαρκόπουλος02/05/2017
Με πρωτοφανή σφοδρότητα, ασυνήθιστη για επιχειρηματία, μιλάει σήμερα στο protothema.gr ο κ. Ιβάν Σαββίδης, πρόσωπο των ημερών μετά τη σύγκρουση κυβέρνησης και αντιπολίτευσης για την τροπολογία που αφορούσε στη διαγραφή προστίμου 38 εκατ. ευρώ από λαθρεμπόριο της ΣΕΚΑΠ που σήμερα ανήκει στον ομογενή επιχειρηματία.
Ο κ. Σαββίδης με μια συνέντευξη 8.500 χιλιάδων λέξεων που διήρκεσε τρεισήμισι ώρες στον αρχισυντάκτη του ΠΡΩΤΟΥ ΘΕΜΑΤΟΣ Δημήτρη Μαρκόπουλο:
-Τάσσεται 100% στο πλευρό του Αλέξη Τσίπρα συμβουλεύοντας τους Έλληνες, «Να κρατηθείτε από τον Τσίπρα. Είναι προϋπόθεση επιτυχίας του μέλλοντος».
-Τον παραλληλίζει με τον Ρώσο Πρόεδρο Βλαντιμίρ Πούτιν, λέγοντας πως ακούγοντας τον Τσίπρα την Παρασκευή, ήταν έτοιμος να τον χειροκροτήσει και πως αυτός, ένα τέτοιο πρόεδρο θέλει.
- Επιτίθεται ανοικτά κατά του αρχηγού της αξιωματικής αντιπολίτευσης Κυριάκου Μητσοτάκη, υποστηρίζοντας πως με τη στάση του διώχνει τους επενδυτές και... προβλέπει πως δεν θα γίνει ποτέ πρωθυπουργός!
-Διαχωρίζει τη θέση του από τον πρώην πρωθυπουργό Κώστα Καραμανλή λέγοντας πως τον θεωρεί φίλο του, ενώ αφήνει πολλές αιχμές κατά του Αντώνη Σαμαρά για τον τρόπο που του επέβαλλε την αγορά της ΣΕΚΑΠ λέγοντας χαρακτηριστικά πως μου μεταβίβασε τον δικό του πονοκέφαλο.
-Δηλώνει πως έτσι ή αλλιώς θα αποκτήσει σύντομα ένα από τα κεντρικά τηλεοπτικά κανάλια της χώρας και δηλώνει ενδιαφέρον τόσο για τον Πήγασο όσο και για τον ΔΟΛ που βρίσκονται σε διαδικασία εύρεσης στρατηγικού επενδυτή.
-Και τέλος όταν ερωτάται αν η επόμενη συνέντευξη του θα είναι στα Ελληνικά τονίζει πως όταν θα δώσει συνέντευξη στα Ελληνικά τότε αυτό θα σημάνει και την έναρξη της πολιτικής του καριέρας στην Ελλάδα.
Monday, May 8, 2017
PM Tsipras says Greece has done its bit, now wants debt relief
Thu May 4, 2017 | 4:46pm EDT
Reuters
By Renee Maltezou | ATHENS
Prime Minister Alexis Tsipras called on Greece's international lenders on Thursday to reach an agreement on easing its debt burden by May 22, when euro zone finance ministers meet in Brussels to discuss the bailout progress.
Athens and its creditors reached a long-awaited deal this week on a series of bailout reforms Greece needs to unlock loans from its 86-billion euro rescue package, the country's third since in 2010.
Reuters
By Renee Maltezou | ATHENS
Prime Minister Alexis Tsipras called on Greece's international lenders on Thursday to reach an agreement on easing its debt burden by May 22, when euro zone finance ministers meet in Brussels to discuss the bailout progress.
Athens and its creditors reached a long-awaited deal this week on a series of bailout reforms Greece needs to unlock loans from its 86-billion euro rescue package, the country's third since in 2010.
Macron and the Revival of Europe
Roger Cohen MAY 7, 2017
The New York Times
It’s not just that Emmanuel Macron won and will become, at the age of 39, France’s youngest president. It’s not merely that he defeated, in Marine Le Pen, the forces of xenophobic nationalism exploited by President Donald Trump. It’s that he won with a bold stand for the much-maligned European Union, and so reaffirmed the European idea and Europe’s place in a world that needs its strength and values.
With Le Pen defeat, Europe’s far-right surge stalls
The Washington Post
By Michael Birnbaum and Anthony Faiola May 7 at 10:08 PM
BRUSSELS — The anti-E.U. French leader Marine Le Pen’s larger-than-expected defeat Sunday in her nation’s presidential election was a crushing reality check for the far-right forces who seek to overthrow Europe: Despite the victories for Brexit and Donald Trump, they are likely to be shut out of power for years.
Friday, May 5, 2017
Data is giving rise to a new economy
Fuel of the future
How is it shaping up?
The Economist
May 6th 2017
AN OIL refinery is an industrial cathedral, a place of power, drama and dark recesses: ornate cracking towers its gothic pinnacles, flaring gas its stained glass, the stench of hydrocarbons its heady incense. Data centres, in contrast, offer a less obvious spectacle: windowless grey buildings that boast no height or ornament, they seem to stretch to infinity.
Yet the two have much in common. For one thing, both are stuffed with pipes. In refineries these collect petrol, propane and other components of crude oil, which have been separated by heat. In big data centres they transport air to cool tens of thousands of computers which extract value—patterns, predictions and other insights—from raw digital information.
How is it shaping up?
The Economist
May 6th 2017
AN OIL refinery is an industrial cathedral, a place of power, drama and dark recesses: ornate cracking towers its gothic pinnacles, flaring gas its stained glass, the stench of hydrocarbons its heady incense. Data centres, in contrast, offer a less obvious spectacle: windowless grey buildings that boast no height or ornament, they seem to stretch to infinity.
Yet the two have much in common. For one thing, both are stuffed with pipes. In refineries these collect petrol, propane and other components of crude oil, which have been separated by heat. In big data centres they transport air to cool tens of thousands of computers which extract value—patterns, predictions and other insights—from raw digital information.
The world’s most valuable resource is no longer oil, but data
The data economy demands a new approach to antitrust rules
Economist
A NEW commodity spawns a lucrative, fast-growing industry, prompting antitrust regulators to step in to restrain those who control its flow. A century ago, the resource in question was oil. Now similar concerns are being raised by the giants that deal in data, the oil of the digital era. These titans—Alphabet (Google’s parent company), Amazon, Apple, Facebook and Microsoft—look unstoppable. They are the five most valuable listed firms in the world. Their profits are surging: they collectively racked up over $25bn in net profit in the first quarter of 2017. Amazon captures half of all dollars spent online in America. Google and Facebook accounted for almost all the revenue growth in digital advertising in America last year.
The extraordinary ways in which China humiliates Muslims
Bans on “abnormal” beards and even the name “Muhammad”
Economist
CHINESE officials describe the far western province of Xinjiang as a “core area” in the vast swathe of territory covered by the country’s grandiose “Belt and Road Initiative” to boost economic ties with Central Asia and regions beyond. They hope that wealth generated by the scheme will help to make Xinjiang more stable—for years it has been plagued by separatist violence which China says is being fed by global jihadism. But the authorities are not waiting. In recent months they have intensified their efforts to stifle the Islamic identity of Xinjiang’s ethnic Uighurs, fearful that any public display of their religious belief could morph into militancy.
PM Tsipras says Greece has done its bit, now wants debt relief
Thu May 4, 2017 | 4:46pm EDT
Reuters
By Renee Maltezou | ATHENS
Prime Minister Alexis Tsipras called on Greece's international lenders on Thursday to reach an agreement on easing its debt burden by May 22, when euro zone finance ministers meet in Brussels to discuss the bailout progress.
Reuters
By Renee Maltezou | ATHENS
Prime Minister Alexis Tsipras called on Greece's international lenders on Thursday to reach an agreement on easing its debt burden by May 22, when euro zone finance ministers meet in Brussels to discuss the bailout progress.
Tuesday, May 2, 2017
Pledging more austerity, Greece cuts deal with lenders
Tue May 2, 2017 | 3:47am EDT
Reuters
By Renee Maltezou | ATHENS
Promising to cut pensions and give taxpayers fewer breaks, Greece has paved the way for the disbursement of further rescue funds from international lenders and possibly opened the door to reworking its massive debt.
Officials from both sides reached a deal early on Tuesday on a package of bailout-mandated reforms, ending six months of staff-level haggling. Greek Finance Minister Euclid Tsakalotos announced it with a term associated with papal elections.
Reuters
By Renee Maltezou | ATHENS
Promising to cut pensions and give taxpayers fewer breaks, Greece has paved the way for the disbursement of further rescue funds from international lenders and possibly opened the door to reworking its massive debt.
Officials from both sides reached a deal early on Tuesday on a package of bailout-mandated reforms, ending six months of staff-level haggling. Greek Finance Minister Euclid Tsakalotos announced it with a term associated with papal elections.
Thursday, April 27, 2017
I.M.F. Torn Over Whether to Bail Out Greece Once Again
By LANDON THOMAS Jr.APRIL 21, 2017
The New York Times
WASHINGTON — As the International Monetary Fund approaches the seventh anniversary of the contentious Greek bailout, it is torn over whether to commit new loans to a nearly bankrupt Greece.
For more than a year, I.M.F. officials have been saying — loudly — that they cannot participate in a new rescue package for Greece unless Europe agrees to ease Greece’s onerous debt burden.
The New York Times
WASHINGTON — As the International Monetary Fund approaches the seventh anniversary of the contentious Greek bailout, it is torn over whether to commit new loans to a nearly bankrupt Greece.
For more than a year, I.M.F. officials have been saying — loudly — that they cannot participate in a new rescue package for Greece unless Europe agrees to ease Greece’s onerous debt burden.
Greece will legislate reforms but implementation hinges on debt relief: PM
Tue Apr 25, 2017 | 1:08pm EDT
Reuters
Greece will legislate additional reforms sought by its lenders but implementing them in 2019 and 2020 is contingent on securing further debt relief, Prime Minister Alexis Tsipras said on Tuesday.
Reuters
Greece will legislate additional reforms sought by its lenders but implementing them in 2019 and 2020 is contingent on securing further debt relief, Prime Minister Alexis Tsipras said on Tuesday.
Tuesday, April 25, 2017
Turkey strikes Kurds in Iraq, Syria, drawing condemnation
The Washington Post
By Suzan Fraser | AP April 25 at 2:26 PM
ANKARA, Turkey — Turkish warplanes struck suspected Kurdish rebel positions in Iraq and Syria on Tuesday, drawing condemnation from Baghdad and criticism from the U.S.-led coalition fighting the Islamic State group, which is allied with Kurdish factions in both countries.
Syrian activists said the attack killed at least 18 members of the Syrian Kurdish militia known as the People’s Protection Units, or YPG, which is a close U.S. ally against IS but is seen by Ankara as a terrorist group because of its ties to Turkey’s Kurdish rebels.
By Suzan Fraser | AP April 25 at 2:26 PM
ANKARA, Turkey — Turkish warplanes struck suspected Kurdish rebel positions in Iraq and Syria on Tuesday, drawing condemnation from Baghdad and criticism from the U.S.-led coalition fighting the Islamic State group, which is allied with Kurdish factions in both countries.
Syrian activists said the attack killed at least 18 members of the Syrian Kurdish militia known as the People’s Protection Units, or YPG, which is a close U.S. ally against IS but is seen by Ankara as a terrorist group because of its ties to Turkey’s Kurdish rebels.
Deutsche Invest highest bidder for Greece's Thessaloniki Port
Mon Apr 24, 2017 | 8:49pm IST
Reuters
German private equity firm Deutsche Invest Equity Partners was the highest bidder for a majority stake in Greece's Thessalonki Port with 231.9 million euros, the country's privatisation agency HRADF said on Monday.
Reuters
German private equity firm Deutsche Invest Equity Partners was the highest bidder for a majority stake in Greece's Thessalonki Port with 231.9 million euros, the country's privatisation agency HRADF said on Monday.
Monday, April 24, 2017
Brexit Bulletin: What Macron Means for May
Macron has pledged to be tough on Britain.
by Simon Kennedy
24 Απριλίου 2017, 9:30 π.μ. EEST
Bloomberg
Theresa May’s first electoral test came on Sunday in France.
Even as she heads for a general election at home, the U.K. prime minister will have been looking across the English Channel at the weekend in the knowledge that whoever wins the French presidency will have a key influence on Brexit negotiations.
Emmanuel Macron, the favorite to win next month’s run-off after the first round of votes, pledged on the campaign trail to be “pretty tough” on the British “because we have to preserve the rest of the European Union.” He also promised to coax “banks, talent, researchers, academics” to relocate to France.
Friday, April 21, 2017
Greece Hits a Bailout Target. The IMF Is Not Convinced
by Sotiris Nikas
20 Απριλίου 2017, 10:19 π.μ. EEST
Bloomberg
Greece achieved a 2016 primary surplus almost seven times higher than its bailout target, but the International Monetary Fund is skeptical the country can sustain that performance.
The Hellenic Statistical Authority is set on Friday to unveil data on last year’s primary surplus, which Eurostat is expected to validate on Monday. The surplus will be close to 4 percent of gross domestic product, according to a finance ministry official who asked not to be identified in line with policy. The bailout target was for a primary surplus of 0.5 percent of GDP.
20 Απριλίου 2017, 10:19 π.μ. EEST
Bloomberg
Greece achieved a 2016 primary surplus almost seven times higher than its bailout target, but the International Monetary Fund is skeptical the country can sustain that performance.
The Hellenic Statistical Authority is set on Friday to unveil data on last year’s primary surplus, which Eurostat is expected to validate on Monday. The surplus will be close to 4 percent of gross domestic product, according to a finance ministry official who asked not to be identified in line with policy. The bailout target was for a primary surplus of 0.5 percent of GDP.
Greece attains primary surplus of 3.9 pct of GDP in 2016- stats service
Fri Apr 21, 2017 | 5:24am EDT
Reuters
Greece improved its public finances last year, achieving a general government surplus of 0.7 percent of gross domestic product compared to a 5.9 percent of GDP deficit in 2015, the country's statistics agency ELSTAT said on Friday.
Reuters
Greece improved its public finances last year, achieving a general government surplus of 0.7 percent of gross domestic product compared to a 5.9 percent of GDP deficit in 2015, the country's statistics agency ELSTAT said on Friday.
Venezuela opposition plans silent procession, road sit-ins
The Washington Post
By Joshua Goodman | AP April 21 at 12:04 AM
CARACAS, Venezuela — Venezuela’s energized opposition is planning sit-ins on roads, silent marches in white to commemorate the dead and other nontraditional protests as it tries to build on the momentum of recent street demonstrations against President Nicolas Maduro’s socialist government.
Tens of thousands of protesters took to the streets of the South American country again Thursday to demand elections and denounce what they consider an essentially dictatorial government. They were met by curtains of tear gas and rubber bullets as they tried to march to downtown Caracas.
Thursday, April 20, 2017
At Least 3 Die in Venezuela in Violent Protests Across the Country
By NICHOLAS CASEY and PATRICIA TORRESAPRIL 19, 2017
The New York Times
BOGOTÁ, Colombia — Protesters demanding elections and a return to democratic rule jammed the streets of Caracas and other Venezuelan cities on Wednesday. National Guard troops and government-aligned militias beat crowds back with tear gas, rubber bullets and other weapons, and at least three people were killed, according to human rights groups and news reports.
Monday, April 10, 2017
EU should consider billion-euro investment boost for Greece - Austrian finmin
Mon Apr 10, 2017 | 3:46am EDT
Reuters
The European Union should consider a one-billion-euro ($1.1-billion) special investment programme to spur growth in debt-ridden Greece, Austria's finance minister told daily Der Standard in an interview published on Monday.
Hans Joerg Schelling said Greece would only be able to get back on track and regain access to capital markets if it was able to generate sustainable growth in the mid- and long-term. It was important to help the country participate in a pick-up in growth in the euro zone, he added.
Reuters
The European Union should consider a one-billion-euro ($1.1-billion) special investment programme to spur growth in debt-ridden Greece, Austria's finance minister told daily Der Standard in an interview published on Monday.
Hans Joerg Schelling said Greece would only be able to get back on track and regain access to capital markets if it was able to generate sustainable growth in the mid- and long-term. It was important to help the country participate in a pick-up in growth in the euro zone, he added.
Greek PM says debt relief is a condition for more austerity
Sun Apr 9, 2017 | 6:53am EDT
Reuters
By Renee Maltezou and George Georgiopoulos | ATHENS
Greece will implement additional austerity measures agreed with its official creditors on condition of further debt relief that will enable the country to be included in the ECB's bond buying scheme, Prime Minister Alexis Tsipras said on Sunday.
Athens struck a deal with its international creditors at Friday's meeting of euro zone finance ministers in Malta on key elements of a reform package that could unlock bailout funds for the country to help it repay maturing debt in July.
"Medium-term debt relief measures, able to include us in (the ECB's) quantitative easing, and a fiscal path that will not be unattainable, is the condition for us to implement the measures we decided," Tsipras told his leftist Syriza party's central committee.
Reuters
By Renee Maltezou and George Georgiopoulos | ATHENS
Greece will implement additional austerity measures agreed with its official creditors on condition of further debt relief that will enable the country to be included in the ECB's bond buying scheme, Prime Minister Alexis Tsipras said on Sunday.
Athens struck a deal with its international creditors at Friday's meeting of euro zone finance ministers in Malta on key elements of a reform package that could unlock bailout funds for the country to help it repay maturing debt in July.
"Medium-term debt relief measures, able to include us in (the ECB's) quantitative easing, and a fiscal path that will not be unattainable, is the condition for us to implement the measures we decided," Tsipras told his leftist Syriza party's central committee.
Thursday, April 6, 2017
EU, Greece seek bailout deal by Friday
Wed Apr 5, 2017 | 8:57am EDT
Reuters
By Renee Maltezou and Jan Strupczewski | ATHENS/BRUSSELS
Greece and its international lenders remained at odds in talks to release fresh bailout loans to Athens on Wednesday as Prime Minister Alexis Tsipras said a deal was needed this week and accused creditors of 'playing games' and causing delays.
Talks between Greece, the European Union and International Monetary Fund have stuttered for months due to differences over Greece's fiscal progress, labor and energy market reforms, rekindling worries of a new crisis in Europe.
Reuters
By Renee Maltezou and Jan Strupczewski | ATHENS/BRUSSELS
Greece and its international lenders remained at odds in talks to release fresh bailout loans to Athens on Wednesday as Prime Minister Alexis Tsipras said a deal was needed this week and accused creditors of 'playing games' and causing delays.
Talks between Greece, the European Union and International Monetary Fund have stuttered for months due to differences over Greece's fiscal progress, labor and energy market reforms, rekindling worries of a new crisis in Europe.
Monday, April 3, 2017
Abu Dhabi’s Plowing Ahead With These 10 Mega Projects During an Oil Slump
Abu Dhabi is building $37 billion worth of projects, including a Louvre and a new airport terminal, despite the oil slump.
Bloomberg
by Zainab Fattah
2 Απριλίου 2017, 9:12 π.μ. EEST
Abu Dhabi, which sits on about 6 percent of the world’s oil reserves, has pushed ahead with a construction program that began before crude prices slumped in 2014. From Louvre Abu Dhabi, a new airport terminal and a nuclear power plant, here are the 10 biggest projects underway in the sheikdom. With a combined value of 134 billion dirhams ($37 billion), they're expected to be completed by 2020, according to a list provided by the government this month in response to questions from Bloomberg.
At least 10 dead as blast hits St. Petersburg metro station in Russia, reports say
By David Filipov April 3 at 8:23 AM
The Washinhton Post
MOSCOW — A large explosion tore apart a train at a central St. Petersburg metro station Monday, killing at least 10 people, Russia’s state news agency reported.
The Tass news agency said “preliminary information” placed the death toll as at least 10. The report could not be independently verified, but images on social media indicated a significant number of injuries.
Thursday, March 30, 2017
In historic break, Britain plunges into Brexit with hard negotiations still to come
The Washington Post
By Griff Witte and Michael Birnbaum March 29 at 4:17 PM
LONDON — The end came not with a bang but a letter.
Over six crisp and unsentimental pages, Britain said goodbye to the European Union on Wednesday, spelling out its hopes, wishes, threats and demands for divorce talks that will strain alliances, roil economies and consume attention across the continent over the next two years.
Coming a little over nine months after British voters stunned the world by choosing to withdraw from the E.U., the hand-delivery of the letter in Brussels officially triggered Article 50, the bloc’s never-before-used escape hatch.
Wednesday, March 29, 2017
'Grexit' is back
Business Insider UK
Jim Edwards, Business Insider UK
Mar. 23, 2017, 12:16 PM
Greece's banks lost about €4 billion in bank deposits since the turn of the year as Greeks fear a return of capital controls that ban them from making cash withdrawals over set limits. Separately, the country looks as if it is tipping back into recession — GDP shrank by 1.2% in Q4 2016.
Does this story sound familiar?
It should. A collapsing economy followed by a run on the banks were the signal events of the Greek debt crisis that began in 2009 and never really ended.
So now people are asking — again — whether Greece might be forced out of the eurozone:
Jim Edwards, Business Insider UK
Mar. 23, 2017, 12:16 PM
Greece's banks lost about €4 billion in bank deposits since the turn of the year as Greeks fear a return of capital controls that ban them from making cash withdrawals over set limits. Separately, the country looks as if it is tipping back into recession — GDP shrank by 1.2% in Q4 2016.
Does this story sound familiar?
It should. A collapsing economy followed by a run on the banks were the signal events of the Greek debt crisis that began in 2009 and never really ended.
So now people are asking — again — whether Greece might be forced out of the eurozone:
UPDATE 1-Lenders do not confirm preliminary deal on Greek bailout
Reuters
Wed Mar 29, 2017 | 7:03am EDT
Greece's lenders on Wednesday could not confirm what sources said was a preliminary deal on open issues of the country's bailout and said possible debt relief measures will be decided only at the end of the financial aid programme, contrary to Athens' will.
Negotiations between Greece, the European Union and the International Monetary Fund - which has yet to decide if it will participate in Greece's current bailout - have dragged on for months, rekindling fears of a new financial crisis in the euro zone.
British PM May to fire starting gun on Brexit
Wed Mar 29, 2017 | 7:15am EDT
Reuters
By Guy Faulconbridge and Elizabeth Piper | LONDON
Prime Minister Theresa May will file formal Brexit divorce papers on Wednesday, pitching the United Kingdom into the unknown and triggering years of uncertain negotiations that will test the endurance of the European Union.
Nine months after Britons voted to leave, May will notify EU Council President Donald Tusk in a letter that the UK really is quitting the bloc it joined in 1973.
The prime minister, an initial opponent of Brexit who won the top job in the political turmoil that followed the referendum vote, will then have two years to settle the terms of the divorce before it comes into effect in late March 2019.
Reuters
By Guy Faulconbridge and Elizabeth Piper | LONDON
Prime Minister Theresa May will file formal Brexit divorce papers on Wednesday, pitching the United Kingdom into the unknown and triggering years of uncertain negotiations that will test the endurance of the European Union.
Nine months after Britons voted to leave, May will notify EU Council President Donald Tusk in a letter that the UK really is quitting the bloc it joined in 1973.
The prime minister, an initial opponent of Brexit who won the top job in the political turmoil that followed the referendum vote, will then have two years to settle the terms of the divorce before it comes into effect in late March 2019.
Friday, March 24, 2017
London Attack Echoes, Faintly, in a Europe Anxious but Inured
By STEVEN ERLANGER and ALISSA J. RUBINMARCH 23, 2017
The New York Times
LONDON — The terrorist attack in London, with its combination of random deaths and the strong symbolism of Parliament shut down, comes in an important election year in critical European countries, as well as at a moment of high anxiety — about the rise of populism, migration and the integration of Muslims.
With France, Germany and possibly Italy going to the polls, analysts have long wondered whether an act of terrorism could jolt electoral dynamics and boost the broader “Europe in crisis” narrative that has elevated far-right parties across the Continent.
“This will have an echo in France and in Germany,” said Mark Leonard, the director of the European Council on Foreign Relations. “It becomes part of a pattern. It’s another link in the chain.”
The New York Times
LONDON — The terrorist attack in London, with its combination of random deaths and the strong symbolism of Parliament shut down, comes in an important election year in critical European countries, as well as at a moment of high anxiety — about the rise of populism, migration and the integration of Muslims.
With France, Germany and possibly Italy going to the polls, analysts have long wondered whether an act of terrorism could jolt electoral dynamics and boost the broader “Europe in crisis” narrative that has elevated far-right parties across the Continent.
“This will have an echo in France and in Germany,” said Mark Leonard, the director of the European Council on Foreign Relations. “It becomes part of a pattern. It’s another link in the chain.”
A Bad Brexit Deal May Be Better Than No Deal After All
by Simon Kennedy
24 Μαρτίου 2017, 2:01 π.μ. EET 24 Μαρτίου 2017, 11:24 π.μ. EET
Bloomberg
The mantra within the British government as it prepares to hammer out the terms of its break-up with the European Union is that no deal is better than a bad deal.
Walking away with no regime for 230 billion pounds ($287 billion) of annual exports to the bloc and the 3.3 million Europeans in the U.K would be “perfectly OK,” says Foreign Secretary Boris Johnson. Not “frightening” at all, says Brexit czar David Davis.
24 Μαρτίου 2017, 2:01 π.μ. EET 24 Μαρτίου 2017, 11:24 π.μ. EET
Bloomberg
The mantra within the British government as it prepares to hammer out the terms of its break-up with the European Union is that no deal is better than a bad deal.
Walking away with no regime for 230 billion pounds ($287 billion) of annual exports to the bloc and the 3.3 million Europeans in the U.K would be “perfectly OK,” says Foreign Secretary Boris Johnson. Not “frightening” at all, says Brexit czar David Davis.
Greece to draw up boundaries for huge Athens riviera resort
BUSINESS NEWS | Thu Mar 23, 2017 | 11:01am EDT
Reuters
Greece will soon define the boundaries of a site where investors plan to spend 7.9 billion euros ($8.5 billion) to build one of Europe's biggest coastal resorts, the culture ministry said, in a sign the delayed project may eventually go ahead.
A consortium of Abu Dhabi and Chinese investors (0656.HK), led by Greece's Lamda (LMDr.AT), signed a deal in 2014 for the 99-year lease of a sprawling area at the former Athens airport in Hellenikon and the development of a coastal town.
Reuters
Greece will soon define the boundaries of a site where investors plan to spend 7.9 billion euros ($8.5 billion) to build one of Europe's biggest coastal resorts, the culture ministry said, in a sign the delayed project may eventually go ahead.
A consortium of Abu Dhabi and Chinese investors (0656.HK), led by Greece's Lamda (LMDr.AT), signed a deal in 2014 for the 99-year lease of a sprawling area at the former Athens airport in Hellenikon and the development of a coastal town.
Wednesday, March 22, 2017
Greece, creditors stepping up talks as debt deadline looms
The Washington Post
By Associated Press March 20
BRUSSELS — Greece and its international creditors are stepping up talks on issues holding up the release of more loans to keep the country’s debt-wracked economy afloat.
Eurogroup chairman Jeroen Dijsselbloem said finance ministers from the 19 nations that used the shared euro currency agreed Monday on more talks “intensified in the coming days here in Brussels.”
Tuesday, March 21, 2017
Lenders and Greece 'wide apart' on bailout review: euro zone official
Thu Mar 16, 2017 | 12:44pm EDT
Reuters
By Francesco Guarascio and Lefteris Papadimas | BRUSSELS/ATHENS
Greece and its international creditors remain divided over the terms of a review of the country's bailout program, a senior euro zone official said on Thursday, a gap that will prevent Athens from getting fresh financial support.
Reuters
By Francesco Guarascio and Lefteris Papadimas | BRUSSELS/ATHENS
Greece and its international creditors remain divided over the terms of a review of the country's bailout program, a senior euro zone official said on Thursday, a gap that will prevent Athens from getting fresh financial support.
Police find 8 parcel bombs in Greece headed to EU countries
No one was hurt when the parcels were discovered. Police gave no further details.
The Toronto Star
By The Associated Press
Mon., March 20, 2017
ATHENS, GREECE—Police in Greece have discovered and neutralized eight parcel bombs, addressed to European Union finance officials and businesses in various European countries, at a postal sorting office near Athens.
The Toronto Star
By The Associated Press
Mon., March 20, 2017
ATHENS, GREECE—Police in Greece have discovered and neutralized eight parcel bombs, addressed to European Union finance officials and businesses in various European countries, at a postal sorting office near Athens.
EU Pressures Greece to Resolve Issues as New Debt Crisis Looms
by Nikos Chrysoloras , Corina Ruhe , and Rainer Buergin
March 20, 2017, 2:00 AM GMT+2 March 20, 2017, 8:29 PM GMT+2
Bloomberg
Further delay would hurt investor, consumer confidence
Eurogroup reiterates calls for Greece to meet loan clauses
March 20, 2017, 2:00 AM GMT+2 March 20, 2017, 8:29 PM GMT+2
Bloomberg
Further delay would hurt investor, consumer confidence
Eurogroup reiterates calls for Greece to meet loan clauses
Wednesday, March 15, 2017
‘Brexit’ Fuels Feeling in Scotland That Time Is Right for Independence
By KATRIN BENNHOLDMARCH 14, 2017
LONDON — Scotland’s nationalists wasted no time: Just minutes after the country’s leader, Nicola Sturgeon, called on Monday for a new independence referendum, a website went live asking people to show their support on Twitter and donate to the campaign.
By Tuesday morning, 204,345 pounds, or about $249,000 — more than a fifth of the £1 million target — had been raised; pro-independence banners in Scotland’s blue-and-white colors had gone up across the country; and celebrities were offering support, including the actor Alan Cumming, who shared a Twitter post by Ms. Sturgeon, with the comment “It’s showtime!”
It was an early glimpse of the Scottish nationalists’ formidable campaign machine, evidently little diminished since the last referendum, in 2014. Support for independence rose from about 27 percent at the start of that campaign to 45 percent at the final count.
LONDON — Scotland’s nationalists wasted no time: Just minutes after the country’s leader, Nicola Sturgeon, called on Monday for a new independence referendum, a website went live asking people to show their support on Twitter and donate to the campaign.
By Tuesday morning, 204,345 pounds, or about $249,000 — more than a fifth of the £1 million target — had been raised; pro-independence banners in Scotland’s blue-and-white colors had gone up across the country; and celebrities were offering support, including the actor Alan Cumming, who shared a Twitter post by Ms. Sturgeon, with the comment “It’s showtime!”
It was an early glimpse of the Scottish nationalists’ formidable campaign machine, evidently little diminished since the last referendum, in 2014. Support for independence rose from about 27 percent at the start of that campaign to 45 percent at the final count.
IMF Said to Move Toward Greek Bailout Loan in Merkel Boost
by Rainer Buergin and Birgit Jennen
10 March 2017, 5:46 μ.μ.
The International Monetary Fund is moving toward rejoining Greece’s bailout, according to people familiar with the discussions, suggesting it will meet a condition set by Germany and other euro-area nations for continued aid.
In a shift that may help break the impasse over its participation, the IMF is ready to offer Greece a smaller loan than the last one provided five years ago, two people said, making it easier for the fund to justify its involvement to its shareholder countries. The amount under discussion is $3 billion to $6 billion, one of the people said, compared with a 29 billion-euro ($31 billion) IMF credit line under Greece’s second bailout in 2012.
10 March 2017, 5:46 μ.μ.
The International Monetary Fund is moving toward rejoining Greece’s bailout, according to people familiar with the discussions, suggesting it will meet a condition set by Germany and other euro-area nations for continued aid.
In a shift that may help break the impasse over its participation, the IMF is ready to offer Greece a smaller loan than the last one provided five years ago, two people said, making it easier for the fund to justify its involvement to its shareholder countries. The amount under discussion is $3 billion to $6 billion, one of the people said, compared with a 29 billion-euro ($31 billion) IMF credit line under Greece’s second bailout in 2012.
Monday, March 13, 2017
How does jailing the statisticians fix Greece’s financial crisis? It doesn’t.
By Anbar Aizenman, Anisha Chinwalla and Benjamin A.T. Graham
March 13 at 5:00 AM
The Washington Post
The Greek government’s ongoing attempts to imprison Andreas Georgiou will reshape the Greek economy — in ways that may last for decades. Georgiou is a statistician who’s been accused by the government of inflating data on the size of the Greek deficit. He’s awaiting trial — for telling the truth about the Greek economy.
Georgiou has been acquitted in four trials since 2011, most recently in December. Greek politicians are still pushing the case, which is now at the Greek Supreme Court. Georgiou appears to be a convenient scapegoat for Greek politicians trying to avoid blame for their country’s ongoing financial crisis.
March 13 at 5:00 AM
The Washington Post
The Greek government’s ongoing attempts to imprison Andreas Georgiou will reshape the Greek economy — in ways that may last for decades. Georgiou is a statistician who’s been accused by the government of inflating data on the size of the Greek deficit. He’s awaiting trial — for telling the truth about the Greek economy.
Georgiou has been acquitted in four trials since 2011, most recently in December. Greek politicians are still pushing the case, which is now at the Greek Supreme Court. Georgiou appears to be a convenient scapegoat for Greek politicians trying to avoid blame for their country’s ongoing financial crisis.
Monday, March 6, 2017
The Time Has Come To Cut Greece Loose
06/03/2017 00:48
Dr Ioannis Glinavos
Senior Lecturer in Law at the University of Westminster
The beginning of March saw Athens grudgingly welcome back the “Troika” inspectors. After months of haggling over Greece’s progress towards the goals of its bailout programme and following non-stop negotiations since January 2015, we are back where we started, the creditor inspectors are allowed in to investigate. However, something is different this time. Greece’s cash-for-reforms deal is coming apart while at the same time relationships between its creditors are breaking down. We now face a situation where Greece, the IMF and the Eurozone are operating at cross purposes. It is legitimate to ask therefore whether 2017 will be the year when this all stops. Is Greece still worth saving?
Dr Ioannis Glinavos
Senior Lecturer in Law at the University of Westminster
The beginning of March saw Athens grudgingly welcome back the “Troika” inspectors. After months of haggling over Greece’s progress towards the goals of its bailout programme and following non-stop negotiations since January 2015, we are back where we started, the creditor inspectors are allowed in to investigate. However, something is different this time. Greece’s cash-for-reforms deal is coming apart while at the same time relationships between its creditors are breaking down. We now face a situation where Greece, the IMF and the Eurozone are operating at cross purposes. It is legitimate to ask therefore whether 2017 will be the year when this all stops. Is Greece still worth saving?
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