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Keyword: greece

Brevity: Headers | « Text »
  • Admiral Warns: Potential for Islamist Raids on European Islands

    04/24/2015 3:54:28 PM PDT · by SatinDoll · 14 replies
    Breitbart ^ | April 24, 2015 | Oliver Lane
    The security situation in the Mediterranean will continue to deteriorate to the point where we can expect Islamist raids on European islands, a recently retired Royal Navy Admiral has told Breitbart London. [snip] Rear Admiral Chris Parry CBE, the straight-talking former Director General of the Ministry of Defence Development, Concepts, and Doctrine Centre, ... made the comments in an interview this week as European nations gathered to discuss the sudden migrant crisis gripping the Mediterranean. THE THREAT OF ISLAM Parry, who warned in a government paper in 1990 that Islam would replace Communism as the main threat against the West...
  • Greece's Piraeus Bank offers relief to poverty-stricken borrowers (writes off debt)

    04/23/2015 6:41:40 PM PDT · by dynachrome · 5 replies
    Reuters ^ | 4-23-15 | George Georgiopoulos
    Piraeus Bank will write off credit cards and retail loans up to 20,000 euros ($21,484) for Greeks who qualify for help under a law the leftist government passed to provide relief to poverty-stricken borrowers, it said on Thursday.
  • Turkey to Buy Chinese Missile Defence System

    04/22/2015 1:57:10 PM PDT · by SatinDoll · 14 replies
    South China Morning Post ^ | April 22, 2015 | Teddy Ng & Reuters in Istandbul
    [This is from the International Edition of SCMP] China has won the bid to co-produce a multibillion ($3Billion) long-range air and missile defence system in Turkey, in what is its largest and most advanced arms sales to a NATO country. The Turkish defence minister announced the decision to approve the US$3 billion bid by China Precision Machinery Import and Export Corp, rejecting rival offers from Russian, US and European firms. The winning Chinese FD-2000 system beat the Patriot, the Russian S-400 and the French-Italian Eurosam Samp-T, it was announced on Thursday. [snip]
  • Greece May Sign Russia Gas Deal As Soon As Today

    04/21/2015 9:56:47 AM PDT · by tcrlaf · 8 replies
    Zerohedge ^ | 4-21-2015 | Durden
    It appears that Herr Schaeuble will be left in the cold as following comments from the Greek energy minister that a deal is coming soon: -RUSSIA MAY SIGN GAS LINK ACCORD W/GREECE TODAY: ROSSIYA 24 According to Gazprom's CEO comments on Greek TV, following his meeting with Greek PM Tsipras, Russia will guarantee 47BCM/YR of gas via Greece with the link to be built by a Russian-European group at a cost of around E2 billion. SNIP As a reminder, Russia is not acting out of the kindness of his heart, but merely engaging in another calculated move, one which kills...
  • Turkey suddenly open to RESTORING ties with Israel, REFUSES to criticize Israeli election

    04/02/2015 6:13:15 AM PDT · by cotton1706 · 27 replies
    Turkey, via their Deputy Prime Minister, is putting the word out on the street that it is open to a restoration of ties with Israel, even acknowledging that it is NOT Turkey’s place to criticize the recent Israeli election: snip Wow. The admitted refusal to criticize Israel over the election is definitely a change of pace for Turkey. I mean, when has Erdogan ever missed an opportunity to openly bash Israel? He was just ripping Netanyahu in January for just showing up to the Paris march against ‘radical Islam’, accusing him of killing 2500 Palestinians in the war last year....
  • Stunned Greeks React To Initial Capital Controls And The "Decree To Confiscate Reserves

    04/20/2015 7:07:12 PM PDT · by Rusty0604 · 48 replies
    Zerohedge ^ | 04/20/2015 | Tyler Durden
    Earlier today, following weeks of speculation, Greece finally launched the first shot across the bow of capital controls, when it decreed that due to an "extremely urgent and unforeseen need" (ironically the need was quite foreseen since about 2010, but that is a different story), it would be "obliged" to transfer - as in confiscate - "idle cash reserves" located across the country's local governments (i.e., various cities and municipalities) to the Greek central bank. Several hours later the decree which was posted in the government gazette has finally percolated among the population, and the response to what even ordinary...
  • Iran-backed Tawhid-Salam network targeted NATO radar base in Turkey

    03/03/2015 2:11:05 AM PST · by piasa · 8 replies
    Today's Zaman ^ | August 22, 2014 | BAYRAM KAYA
    Operatives of a secretive Iran-backed terrorist network in Turkey scouted the area hosting a radar site in Malatya's Kürecik district that is part of a NATO early warning radar system, an ongoing investigation has revealed. According to an 854-page police investigation on the Tawhid-Salam terror network obtained by Today's Zaman, witness testimony provided to the Istanbul Chief Prosecutor's Office on March 22, 2013 indicated that suspects tied to Iranian intelligence had collected information about Kürecik. The witness said many front companies with the cover of legitimate businesses such as real estate agencies or bookstores had been established in Malatya by...
  • Turkey accuses EU of 'enmity' over 1915 Armenian genocide recognition

    04/17/2015 1:38:35 PM PDT · by markomalley · 10 replies
    The Telegraph ^ | 4/17/15 | Richard Spencer
    Recep Tayyip Erdogan, Turkey’s president, has accused the EU of declaring “enmity” on his country as next week’s centenary commemorations of the massacres of Armenians by the Ottoman Empire descend into bitter rows over what to call them. Both the European Parliament and Pope Francis this week referred to the killings as a genocide, a term recognised by much of the rest of the world but fiercely disputed by Turkey. The European decision prompted a furious response from Mr Erdogan. “Such decisions are nothing but expressions of enmity against Turkey by abusing Armenians,” he said while on a visit to...
  • Islamist Turkish President Erdogan Says A 'Mastermind' Is Plotting Against Turkey...

    04/14/2015 4:47:03 PM PDT · by markomalley · 24 replies
    Memri ^ | 4/14/15
    Since October 2014, Turkish President Recep Tayyip Erdogan has regularly referred to the concept of a "Mastermind" (ust akil, "supra-intellect," in Turkish) that, he says, is plotting against Turkey. This concept has been applauded by the Islamist pro-AKP media. Erdogan's December 12, 2014 speech, which focused on this "mastermind" concept, inspired the production of a two-hour "documentary" by one of the leading Turkish television channels, the pro-AKP A Haber. The film, titled "The Mastermind," first aired on March 15, 2015 and has been broadcast repeatedly since then; in addition, the Turkish Islamist pro-AKP media are circulating the film on their...
  • Greece is 'close to the abyss' as black hole in public finances widens

    04/15/2015 7:48:25 AM PDT · by C19fan · 29 replies
    UK Telegraph ^ | April 15, 2015 | Mehreen Khan
    The depth of Greece's financial woes have been laid bare as official figures showed the country has fallen further into the red following the election of its Leftist government. Greece's primary budget surplus, which excludes its debt interest payments, shrunk to just over €1bn during January and February, compared to €3.17bn over the same period in 2014, according to figures from the Ministry of Finance.
  • Greece prepares for debt default if talks with creditors fail

    04/14/2015 6:22:37 AM PDT · by mykroar · 7 replies
    Financial Times ^ | 4/13/15 | Kerin Hope and Tony Barber
    Greece is preparing to take the dramatic step of declaring a debt default unless it can reach a deal with its international creditors by the end of April, according to people briefed on the radical leftist government’s thinking. The government, which is rapidly running out of funds to pay public sector salaries and state pensions, has decided to withhold €2.5bn of payments due to the International Monetary Fund in May and June if no agreement is struck, they said. High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste...
  • Abbas To Sign Accords With Putin in Moscow

    04/11/2015 10:14:46 PM PDT · by Olog-hai · 29 replies
    INN ^ | 4/11/2015, 10:55 PM | (Arutz Sheva Staff)
    Russian President Vladimir Putin will meet Palestinian Authority (PA) Chairman Mahmoud Abbas in Moscow on Monday where the issue of Middle East peace talks will be raised, Russian authorities announced Thursday. “The two leaders will hold talks concerning key aspects of Russian-Palestinian relations and their future, with particular attention on the trade, economy and humanitarian sectors,” the Kremlin said in a statement according to AFP. There will also be “an exchange of ideas on the process of Israeli-Palestinian talks and other problematic regional situations,” the statement continued, adding that North Africa would also be on the agenda. …
  • Russia may give Greece pre-payment of profits from future gas pipeline project

    04/09/2015 9:44:10 AM PDT · by Lorianne · 9 replies
    CNBC/Reuters ^ | 08 April 2015
    Russia is considering soon giving Greece funds based on future profits Athens would earn from shipping Russian gas to Europe as part of an extension of the Turkish Stream gas pipeline project, a Greek government official said. Plans for the pipeline taking Russian gas from Turkey to Europe via Greece would be linked to lower Russian gas prices, the official added. Greece would pay back the Russian prepayment after the pipeline started operating, the official said.
  • Greek minister: Evidence for massive German war reparations

    04/09/2015 5:01:52 AM PDT · by Pan_Yan · 14 replies
    AP via Yahoo! Finance ^ | April 7, 2015 11:35 AM | DEREK GATOPOULOS and FRANK JORDANS
    ATHENS, Greece (AP) — Greece's defense minister said his country's government has obtained "stunning evidence" to support its claim that German World War II reparations are worth a massive 278.7 billion euros ($302 billion). ... "The evidence is so compelling that it will lead to the reopening of cases, even those that have already gone to court." ... Germany says it has already settled its reparations to Greece in post-war agreements. Sigmar Gabriel, Germany's economy minister, argued that Greece's new left-led government was attempting to use the reparations issue to influence debt negotiations. "To be honest I think it's dumb,"...
  • Russia ready to offer Greeks cash in return for assets

    04/08/2015 6:06:39 AM PDT · by 11th_VA · 31 replies
    telegraph ^ | 7 Apr 2015 | By Tom Parfitt and Mehreen Khan
    Kremlin could provide cash-strapped Greeks a credit line and discounted energy supplies as Alexis Tsipras meets with Putin Russia could offer debt-ridden Greece controversial loans and discounts on supplies of natural gas in exchange for the country's "assets", according to reports in Moscow. Alexis Tsipras, Greece’s prime minister, is due to arrive in the city on Tuesday and will meet Vladimir Putin, Russia’s president, on Wednesday. Athens overtures to Moscow have raised fears the Leftist government is pivoting east in search of alternatives sources of finance as it bids to avoid bankruptcy. Ahead of his visit, Mr Tsipras condemned economic...
  • German economy minister calls Greek war reparations request 'stupid'

    04/07/2015 11:45:24 PM PDT · by Berlin_Freeper · 10 replies
    theguardian.com ^ | 7 April 2015 | Reuters in Berlin
    ...Germany has honoured its obligations, including a 115-million deutschmark payment made to Greece in 1960.
  • Alexis Tsipras flies to Moscow amid speculation of bailout from Putin (Greek Prime Minister)

    04/07/2015 12:54:21 PM PDT · by McGruff · 35 replies
    The Guardian ^ | 7 April 2015 | Helena Smith and Alec Luhn
    The Greek prime minister, Alexis Tsipras, began a controversial visit to Moscow on Tuesday as his debt-stricken country raced to meet tomorrow’s deadline for the repayment of a €450m loan to the International Monetary Fund. With Greece suffering its worst credit crisis in modern times, the defiant leader flew into Russia amid speculation that president Vladimir Putin might make an offer of financial help he would find hard to resist.
  • Greece demands 279bn(Euros) from Germany in Nazi War Reparations

    04/07/2015 10:20:23 AM PDT · by tcrlaf · 44 replies
    UK Telegraph ^ | 4-7-2015 | Mehreen Khan
    Greece has demanded nearly €279bn in reparations from Germany, more than the value of its current bail-out, as the cash-strapped country continues to pursue compensation for crimes carried out by the Third Reich. A parliamentary committee established by Prime Minister Alexis Tsipras put an official number on the claim, which includes the cost of a forced Nazi loan made by the Bank of Greece and the return of archaeological treasures. Greece suffered a brutal occupation at the hands of the Third Reich in 1941, with over 40,000 people starving to death in Athens alone. SNIP--- Berlin moved to quickly to...
  • Greece Nazi occupation: Athens asks Germany for 279bn euros

    04/07/2015 4:29:33 AM PDT · by Oldeconomybuyer · 24 replies
    BBC News ^ | April 7, 2015
    The Greek government says Germany owes Greece nearly €279bn (Ł204bn; $303bn) in war reparations for the Nazi occupation during World War Two. It is the first time Greece has officially calculated what Germany allegedly owes it for Nazi atrocities and looting during the 1940s. However, the German government says the issue was resolved legally years ago. The new figure given by Greek Deputy Finance Minister Dimitris Mardas includes €10.3bn for an occupation loan that the Nazis forced the Bank of Greece to pay. "According to our calculations, the debt linked to German reparations is 278.7bn euros," Mr Mardas told a...
  • Endless Supply of Rabbits? Greece to Make April 9 IMF Repayment;

    04/05/2015 11:26:57 AM PDT · by Kaslin · 3 replies
    Townhall.com ^ | April 5, 2015 | Mike Shedlock
    Greece to Make April 9 IMF Repayment April 9th was one of the critical dates by which Greece was said to be out of cash. By now most expect these kinds of deadlines to come and go in belief the eurozone hat has an endless supply of rabbits. Sure enough, Reuters reports Greece Says Ready to Make IMF Payment on April 9 Greece will repay a loan tranche to the IMF on time on April 9, its deputy finance minister said on Friday, seeking to quell fears of default after a flurry of contradictory statements on the issue in recent...
  • Greece Said To Prepare "Grexit", Drachma, Bank Nationalization Plans

    04/04/2015 12:47:25 AM PDT · by Crapolla · 19 replies
    zero hedge ^ | 04/03/2015 | Tyler Durden
    On Thursday morning, we took an in-depth look at what the progression of events is likely to be in the event a cash-strapped, negotiation-weary Greece finally, for lack of will or for lack of options, fails to scrape together enough cash to pay its creditors. As BofAML notes, a missed IMF payment and/or failure to make interest payments to either the ECB or private creditors over the coming weeks would likely lead to default within 30 days, at which point "mark-to-fantasy" becomes mark-to-market and then "mark-to-default" in very short order. Although Greek officials came out midday with a “categorical” denial...
  • Rand Paul's excuse for avoiding the 'religious freedom' law controversy doesn't add up

    04/03/2015 12:10:36 PM PDT · by C19fan · 34 replies
    Business Insider ^ | April 2, 2015 | Hunter Walker and Colin Campbell
    Sen. Rand Paul (R-Kentucky) is the only major Republican likely 2016 presidential candidate who hasn't weighed in on the controversy over Indiana's "religious freedom" law that erupted this week — and his explanation for avoiding the issue is questionable.
  • Greece draws up drachma plans, prepares to miss IMF payment

    04/03/2015 4:41:02 AM PDT · by C19fan · 22 replies
    UK Telegraph ^ | April 2, 2015 | Ambrose Evans-Pritchard, & Mehreen Khan
    Greece is drawing up drastic plans to nationalise the country's banking system and introduce a parallel currency to pay bills unless the eurozone takes steps to defuse the simmering crisis and soften its demands. Sources close to the ruling Syriza party said the government is determined to keep public services running and pay pensions as funds run critically low. It may be forced to take the unprecedented step of missing a payment to the International Monetary Fund next week.
  • Fears of a new global crash as debts and dollar’s value rise

    03/29/2015 6:19:27 PM PDT · by 9thLife · 13 replies
    the guardian ^ | Saturday 28 March 2015 12.00 EDT | Heather Stewart
    Greek ministers are spending this weekend, almost five grinding years since Athens was first bailed out, wrangling over the details of the spending cuts and economic reforms they have drawn up to appease their creditors. As the recriminations fly between Europe’s capitals, campaigners are warning that the global community has failed to learn the lessons of the Greek debt crisis – or even of Argentina’s default in 2001, the consequences of which are still being contested furiously in courts on both sides of the Atlantic. As Janet Yellen’s Federal Reserve prepares to raise interest rates, boosting the value of the...
  • Tsipras raises Nazi war reparations claim at Berlin press conference with Merkel

    03/24/2015 5:54:34 AM PDT · by C19fan · 46 replies
    UK Guardian ^ | March 23, 2015 | Ian Traynor
    Greece’s leftwing prime minister Alexis Tsipras stood beside German leader Angela Merkel and demanded war reparations over Nazi atrocities in Greece on Monday night, even as the two leaders sought to bury the hatchet following weeks of worsening friction and mud-slinging. “It’s not a material matter, it’s a moral issue,” said Tsipras, unusually insisting on raising the “shadows of the past” at the heart of German power in the gleaming new chancellery in Berlin. It was believed to be the first time a foreign leader had gone to the capital of the reunified Germany to make such a demand.
  • Why My #1 Bet on Investing in Europe is Soaring

    03/22/2015 10:40:42 AM PDT · by Kaslin · 15 replies
    Townhall.com ^ | March 22, 2015 | Nicholas Vardy
    It was just over a month ago that I appeared on the Fox Business Network and recommended that U.S. investors put their money to work in Europe. To say that my recommendation was greeted with skepticism would be an understatement. After all, as the host pointed out, Europe was on the verge of bailing out a Marxist government in the form of Greece. And my closing recommendation to invest in Germany was greeted with a roll of the eyes and a barely stifled yawn. Fast forward one month, and Germany is the hottest market on the planet. The German DAX...
  • Looks Like Germany May Have To Pay Up

    03/21/2015 6:58:09 PM PDT · by Lorianne · 22 replies
    Automatic Earth ^ | 22 March 2015 | Raúl Ilargi Meijer
    German magazine Der Spiegel digs deep(er) into the ‘Greece question’ this weekend, and does so with a few noteworthy reports. First, its German paper issue has Angela Merkel on the cover, inserted on a 1940′s photograph that shows Nazi commanders against the backdrop of the Acropolis in Athens. The headline is ‘The German Supremacy: How Europeans see (the) Germans’. The editorial staff has already come under a lot of fire for the cover, and I’ve seen little that could be labeled a valid defense for further antagonizing both Germans AND Greeks (and other Europeans) this way. Oh, and it’s also...
  • ECB Prepares For Grexit, Anticipates 95% Loss On Greek Debt

    03/18/2015 7:30:07 AM PDT · by SeekAndFind · 8 replies
    Zero Hedge ^ | 03/18/2015 | Tyler Durden
    Dear Greek readers: the writing is now on the wall, and it is in very clear 48-point, double bold, and underlined font: when the ECB "leaks" that it is modelling a Grexit, something Draghi lied about over and over in 2012 and directly in our face too, take it seriously, because it is time to start planning about what happens on "the day after." And incidentally to all those curious what the fair value of peripheral European bonds is excluding ECB backstops, the ECB has a handy back of the envelope calculation: a 95% loss. Which also is the...
  • Greek PM hastens Russia visit amid cash crunch

    03/17/2015 3:25:37 PM PDT · by familyop · 15 replies
    AFP by way of Yahoo News ^ | 17MAR15 | John Hadoulis
    "The prime minister will visit the Kremlin following an invitation from Russian President Vladimir Putin," a government source said without giving reasons for the change of date. Tsipras, a former Communist, has made no secret of seeking closer ties to Russia at a time when Moscow is at loggerheads with the European Union over the conflict in Ukraine. A number of Greek officials have openly broached the prospect of Athens turning to Russia or China for financial assistance if loan talks with the EU end in failure.
  • Greek PM To Meet With Putin Amid Cash Crunch

    03/17/2015 12:23:33 PM PDT · by tcrlaf · 6 replies
    Zerohedge ^ | 3-16-2015 | Durden
    With Greece digging around in the couch cushions to try and scrape up €2 billion by Friday in order to make payments to the IMF, the ECB, and Goldman, and with celebrity FinMin Yanis Varoufakis doing his absolute best to sink the entire ship with a series of epic PR faux pas, one is left to wonder just where Athens will turn when Berlin and Brussels finally reach the end of their ropes with what increasingly looks like gross incompetence in the Aegean. We may have gotten the answer to that question today via Reuters: Greek Prime Minister Alexis Tsipras...
  • Is the European Union Dying?

    03/13/2015 7:19:26 AM PDT · by Kaslin · 12 replies
    Townhall.com ^ | March 13, 2015 | Pat Buchanan
    As the European Coal and Steel Community of Jean Monnet evolved into the EU, we were told a "United States of Europe" was at hand, modeled on the USA. And other countries and continents will inevitably follow Europe's example. There will be a North American Union of the U.S., Canada and Mexico, and a Latin America Union of the Mercosur trade partnership. In an essay, "The E.U. Experiment Has Failed," Bruce Thornton of Hoover Institution makes the case that the verdict is in, the dream is dead, the EU is unraveling, One Europe is finished. Consider, first, economics. In 2013,...
  • Euro could fall to 85 cents against US dollar

    03/12/2015 7:53:08 PM PDT · by Lorianne · 34 replies
    CNBC ^ | 11 March 2015 | Michelle Fox
    As analysts were waiting to see how fast the euro reaches parity against the U.S. dollar, one foreign exchange pro told CNBC he saw the common currency dropping even further, with the dollar strengthening another 20 percent. George Saravelos, global co-head of FX research at Deutsche Bank, said the euro could fall to 85 U.S. cents against the greenback.
  • Euro slips to new 12-year low against US dollar ($1.05)

    03/11/2015 9:09:49 PM PDT · by tcrlaf · 15 replies
    Straits Times ^ | 3-12-2015 | Reuters
    The euro slipped to a fresh 12-year low against the US dollar on Thursday as the common currency continued to buckle under pressure felt since the European Central Bank launched its massive quantitative easing scheme at the start of the week.
  • Dollar Hits Fresh Highs Against Euro, Yen

    03/10/2015 1:27:34 AM PDT · by Oliviaforever · 11 replies
    WSJ ^ | 3/10/15 | HIROYUKI KACHI
    The dollar set fresh multiyear highs against the euro and the yen in Asian trade Tuesday, as market participants bet on the continuing divergence in monetary and economic conditions in the U.S., the eurozone and Japan.
  • Euro hits 12-year low, parity with dollar looms

    03/06/2015 5:20:35 AM PST · by SeekAndFind · 3 replies
    UT San Diego ^ | 03/06/2015 | By PAN PYLAS
    LONDON (AP) — The euro could soon be doing something it's only done a couple of times in its 16-year existence — trading 1-to-1 with the dollar. Europe's single currency has since May been on a downward trajectory against the dollar, mainly because of the divergence in economic performance between the eurozone and the United States. Where the eurozone's recovery from the global financial crisis has been at best anemic, the U.S. economy appears to be going from strength to strength. And that divergence is hurting the euro's fortunes. From $1.40 last spring, it is now trading below $1.10 for...
  • Euro Falls To Near 1-Year Low Vs Dollar On Greece Worries

    04/23/2010 12:23:53 AM PDT · by bruinbirdman · 7 replies · 524+ views
    Market Watch ^ | 4/23/2010 | Andrew Monahan
    1:43 a.m. Concerns that the Group of 20 industrialized and developed nations may not come up with an effective plan to address Greece's debt problems prodded short-term investors to sell the euro in Asia Friday, sending the currency to its lowest level against the dollar in nearly a year. In morning trade in Japan, the euro dropped to $1.3201, its lowest level since April 30, 2009. Dealers said mounting anxiety that Greece could default on its debt may drag the common currency below $1.3000 next week. The focus throughout Asian trading was on the possible outcome of discussions among top...
  • Europe Has A Modest Proposal For Greece: "Don't Pay Wages For One Or Two Months"

    03/13/2015 10:24:02 AM PDT · by tcrlaf · 22 replies
    zerohedge ^ | 3-13-2015 | durden
    The Greek liquidity, pardon "cash flow" problems are so bad, not only Zero Hedge, but also Bloomberg has launched a daily maturity tracker of how much money Greece has to pay either to the IMF or to prefund T-Bill rollovers. This is what Bloomberg blasted out earlier today: Greece is preparing for another week of hurdles that ends with a ~EU2b repayment on March 20. Most economists say that it will be difficult for Greece to get past end of March without fresh EU funds. Here’s a timeline of the most important events scheduled this week: Monday, March 16: Greece...
  • Greece Passes Law To Plunder Pension Funds

    03/12/2015 12:01:39 PM PDT · by tcrlaf · 50 replies
    Zerohedge ^ | 3-12-2015 | Durden
    Having previously hinted that they might 'dip' into public pensions funds for some short-term cash to payback The IMF, and then confirming that the plan is to repo that cash from pension cash reserves (raising concerns about how they will unwind the repo - i.e. pay it back); the Greek government finally signed the bill today that enables them to plunder the Greek people's pension funds (for their own good). The massive irony of this bill is the bill enables greek deposits to be fully invested in Greek sovereign bonds... which Tsipras and Varoufakis both admitted today is "unsustainable" and...
  • Greece just threatened to seize German assets over World War II

    03/11/2015 9:18:34 PM PDT · by tcrlaf · 22 replies
    BI ^ | 3-11-2015 | Karolina Tagaris
    Greece's justice minister said on Wednesday he was ready to implement a High Court ruling allowing Athens to seize German state-owned property to compensate victims of a Nazi massacre in a small Greek village. Nikos Paraskevopoulos' comments come against a backdrop of rising tensions between Athens and Berlin as Greece's new leftist government struggles to persuade its European Union partners to renegotiate a 240 billion euro bailout package. Prime Minister Alexis Tsipras on Tuesday accused successive German governments of using legal tricks to avoid paying reparations for the brutal Nazi occupation of Greece and said he would support efforts to...
  • Greece says Germany owes it compensation for WWII occupation

    03/11/2015 7:17:42 AM PDT · by C19fan · 29 replies
    AFP ^ | March 10, 2015 | Staff
    The radical left-led Greek government insisted Tuesday that the debt-ridden country has never been fully compensated by Germany for its brutal World War II Nazi occupation, linking the issue with Greece's fraught bailout negotiations. Prime Minister Alexis Tsipras said a 1960 reparation deal with Germany did not cover key Greek demands, including payments for wrecked infrastructure, war crimes and the return of a forced loan exacted from occupied Greece.
  • MUST READ:Global Bail-In Plan Could Still Leave Taxpayers Holding the Bag

    03/10/2015 6:03:55 PM PDT · by RaceBannon · 12 replies
    American Banker ^ | MAR 4, 2015 10:00am ET | CHRISTOPHER WHALEN
    BEWARE OF THE BAIL_IN The Government tells the banks to grab your assets to fill their coffers when they are insolvent, the way they took GREECE money The Banks are going to call YOUR money UNSECURED DEBT Now, Look at the first paragraph: http://www.americanbanker.com/bankthink/global-bail-in-plan-could-still-leave-taxpayers-holding-the-bag-1073068-1.html
  • Economist Tells Congress: U.S. May Be in ‘Worse Fiscal Shape’ Than Greece

    03/10/2015 3:11:57 PM PDT · by Jan_Sobieski · 86 replies
    CNSNews.com ^ | 03/09/2015 | Barbara Hollingsworth
    (CNSNews.com) -- The U.S. has a $210 trillion “fiscal gap” and “may well be in worse fiscal shape than any developed country, including Greece,” Boston University economist Laurence Kotlikoff told members of the Senate Budget Committee in written and oral testimony on Feb. 25. “The first point I want to get across is that our nation is broke,” Kotlikoff testified. “Our nation’s broke, and it’s not broke in 75 years or 50 years or 25 years or 10 years. It’s broke today. "Indeed, it may well be in worse fiscal shape than any developed country, including Greece," he said. (See...
  • Varoufakis unsettles Germans with admission Greece won't repay debts

    03/10/2015 8:42:13 AM PDT · by tcrlaf · 19 replies
    Reuters UK ^ | 3-10-2015 | Madeline Chambers
    Greek Finance Minister Yanis Varoufakis has described his country as the most bankrupt in the world and said European leaders knew all along that Athens would never repay its debts, in blunt comments that sparked a backlash in the German media on Tuesday. A documentary about the Greek debt crisis on German public broadcaster ARD was aired on the same day euro zone finance ministers met in Brussels to discuss whether to provide Athens with further funding in exchange for delivering reforms. "Clever people in Brussels, in Frankfurt and in Berlin knew back in May 2010 that Greece would never...
  • Greece Proposes Using Tourists as Tax Spies to Fill Shortfall

    03/08/2015 6:04:16 AM PDT · by C19fan · 6 replies
    NY Times ^ | March 7, 2015 | Liz Alderman
    Despite the European accord last month to extend a financial lifeline to Greece, Athens is rapidly running out of cash. So it is scrambling to find new, even radical ways to fill the shortfall — including a proposal to recruit citizens and tourists to spy on suspected tax evaders. Greece’s coffers may be empty before the end of this month, as tax receipts shrink and the economy shows signs of lapsing back into recession. Athens officials have hinted they may have trouble repaying or refinancing a total of about 7 billion euros, or $7.7 billion, owed in March to the...
  • Europe: Time for the Third Way

    03/05/2015 10:11:06 AM PST · by Jan_Sobieski · 9 replies
    The Office of Tony Blair ^ | 2/11/2015 | Tony Blair
    Europe as an entity and as an ideal is more needed than ever. The individual countries of Europe need the collective power of Europe to assert their interests, influence and values. Yet, as the impasse over Greece confirms, the continent is in crisis. Many assume that some form of compromise is in the offing. Debt can somehow be kicked down the road. The Greek government will bend; the troika of creditors — the EU, ECB and International Monetary Fund — will bend and somewhere in the middle the two will come together. I do not see it. Greece is part...
  • The Greecification of Spanish Politics

    03/05/2015 8:11:12 AM PST · by Kaslin · 3 replies
    Townhall.com ^ | March 5, 2015 | Mike Shedlock
    There's an excellent post on Keep Talking Greece this evening on the simmering feud between Greek prime minister Alexis Tsipras and Spanish prime minister Minister Mariano Rajoy. Tsipras made a claim that Rajoy's plan is to "wear down, topple or bring our government to unconditional surrender before our work begins to bear fruit and before the Greek example affects other countries… And mainly before the elections in Spain. ... for obvious political reasons". Spanish foreign minister García Margallo, returned fire with a statement (a lie actually), that “Had Spain not given €32.744 billion to Greece, it could have increased the...
  • Greek Crisis Deepens

    02/28/2015 6:33:12 PM PST · by NRx · 26 replies
    The Telegraph ^ | 28 Feb 2015 | Ambrose Evans-Pritchard
    Greece's new currency designs are ready. The green 50 drachma note features Cornelius Castoriadis, the Marxisant philosopher and sworn enemy of privatisation. The Nobel poet Odysseus Elytis - voice of Eastward-looking Hellenism - honours the 200 note. The bills rise to 10,000 drachma, a wise precaution lest there is a hyperinflationary shock as Greece breaks out of its debt-deflation trap at high velocity. The amateur blueprints are a minor sensation in Greek artistic circles. They are only half in jest. Greece's Syriza radicals have signed a fragile ceasefire with the eurozone's creditor powers. Few think this can last as escalating...
  • Full Circle: The First Anti-Government Protest In Greece Turns Ugly

    02/26/2015 2:41:47 PM PST · by Kartographer · 6 replies
    Zerohedge ^ | 2/26/15 | Tyler Durden
    The first anti-government rally in Athens turned ugly as anti-authoritarian protesters started to smash the windows of a pastry shop and two jewelry shops and put two vehicles and several garbage bins on fire.
  • Greece Suffers Biggest Bank Run In History: January Deposits Plunge To 2005 Levels

    02/26/2015 7:31:52 AM PST · by SeekAndFind · 14 replies
    Zero Hedge ^ | 02/26/2015 | Tyler Durden
    One of the biggest question marks surrounding the Greek negotiation and ultimately, bailout extension, was just how panicked was the Greek population and domestic corporations. Recall that as explained previously, the tension boiled down to this: the Troika did everything in its power to accelerate the bank run in order to crush any negotiating leverage Varoufakis may have; Greece on the other hand was desperate to make its cash drain appear far better than rumored. Moments ago the Bank of Greece presented its latest, January, deposit data. And it's a doozy: following a record €12.2 billion monthly outflow, greater...
  • 'It's treason!' Greek anger at government u-turn

    02/24/2015 7:45:36 PM PST · by Lorianne · 18 replies
    CNBC ^ | 23 February 2015 | Holly Ellyatt
    European equity markets might be cheering a deal to extend Greece's aid by four months, but many ordinary Greeks feel their government has backtracked from its grand promises to strike out the bailout. Greece's left-wing government, led by Prime Minister Alexis Tspiras, was given a lifeline Friday when the Eurogroup of euro zone finance ministers reached a deal to extend the country's bailout by four months. Greece is now scrambling to present a list of reform proposals in order to secure the financial lifeline. However some Greek people have accused the new government of back-tracking from election promises that it...