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Jul 7, 2012

GREECE News, Jul 07, 2012


'Troika of international lenders returns to Greece
Deutsche Welle
According to the latest report by Greece's international lenders, the inflated Greekstate apparatus has shrunk significantly over the past three years. Since 2009, the number ... Now, five EU countries have requested an international bailout. Cyprus ...
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Deutsche Welle
Eurozone crisis: Troika returning to Greece
The Guardian
A delegation of officials from the EC, ECB and IMF visit Athens to assess Greece'sprogress in implementing its latest €130bn bailout programme. ... The Deputy Finance Minister Christos Staikouras joined other Greek officials who today insisted the ...
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The Guardian
Why Greeks know more about politics than Americans: It pays.
Washington Post
Why Greeks know more about politics than Americans. ... “On the contrary, the electoral behavior for a significant portion of the population in Greece translates into private interest, with tangible material consequences such as employment.” Loading ...
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New Greek PM to outline crisis policy
Macon Telegraph (blog)
Greece's new three-party coalition government is ready to carry out long-delayed structural reforms, Prime Minister Antonis Samaras said Friday, as he acknowledged that the deficit reduction program has gone off target. ... July 6, 2012. The trio of ...
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Macon Telegraph (blog)
Greek terror suspects vanish in middle of trial
Bradenton Herald
Two suspected members of a Greek domestic terrorist group have gone missing in the middle of their trial, officials said Thursday, prompting orders for a judicial investigation and the suspension of an Athens police official. ... the maximum 18 months ...
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Bradenton Herald
Bailouts And Interest Expense For Greece's Debt Crisis
Seeking Alpha
There is still no particular measure in place for the European Union to take further action and quell the extending debt-to-GDP crisis in Greece. The reality behind the Greek debt crisis today is not solely based on the assumption of getting the Greek ...
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What Greece Makes, the World Might Take
New York Times
The same is true for Greece's tourism industry, which, according to the report, remains stubbornly focused on budget travelers even though a yacht full of millionaires can bring a lot more revenue than a cruise ship of middle-class people. Consulting ...
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New York Times
The Exact Moment Greece Will Leave the Euro
The Market Oracle
1) Greek leaders, no matter what party they belong to, are unwilling to get Greece's fiscal house in order (how many debt repayments and deadlines have they missed now?) 2) The current ... Greecebreached bailout rules with staff hirings: report ...
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Why do so many young Greeks snub work?
Victoria Times Colonist
But Greeks have bigger obsessions right now. For most the big question was and is whether its shaky new coalition government can manage to do enough to convince the bureaucrats in Brussels and bankers elsewhere that it should be allowed to stay in the ...
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Greek Wines: Aromatic Whites and Ageworthy Reds
Huffington Post (blog)
Aspects of wine enjoyment we take for granted today -- e.g., focused tastings, sommeliers, glasses designed for particular types of wine -- all developed originally in ancient Greece. ... Drink Like theGreeks | Robb Report's New York City | An Insider ...
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Credit Agricole in talks over Greek bank sale
Reuters
Greek National Bank confirms Emporiki talks* More than three lenders have declared interest - source* French bank's latest move to reduce Emporiki exposure* Shares jump 8 pct, biggest gain since January. ... Greece's biggest lender, National Bank, said ...
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REPORT: Greece Gives Up Immediate Plan For Getting New Bailout Terms
Business Insider
Either way, this is unlikely to please the large percentage of Greeks that voted against the members of the current coalition, calling for revisions to the Memorandum of Understanding that governs Greece's bailout package. The government is supposed to...
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Business Insider
Bulgaria President arrives on official visit to Greece
Focus News
Bulgarian President Rosen Plevneliev arrived on an official visit to Greece, FOCUS News Agency special envoy Denka Katsarska informed. The first meeting in Plevneliev's agenda ... the Order of the Redeemer. Today's agenda also includes plenary talks ...
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Human rights group Amnesty International criticizes violence by Greek police
Washington Post
ATHENS, Greece — Amnesty International charged in a report Tuesday that Greek police often use violence against demonstrators, migrants and detained suspects, and that authorities' willingness to downplay the problem exacerbates a “climate of impunity.”
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Greek youth prefer rest to work
Vancouver Sun
Online Now. Katie Holmes and Tom Cruise .... On the positive side, there were reports in the Greekmedia last week that tourist operators had received a strong, positive bounce in bookings afterGreece finally cobbled together a working coalition last ...
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New Greek financial minister meets troika officials
FRANCE 24
The new Greek Finance Minister Yannis Stournaras was sworn in Thursday, mere hours before he met with the trio of financial bodies tasked with monitoring the country's massive bail-out commitments. ... FRANCE 24 latest world news report New Greek ...
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FRANCE 24
Greek recession to be deeper than expected
The Daily Telegraph
In April the Bank of Greek forecast that GDP would contract by "about 5.0 per cent" in 2012, a recession far deeper than the 3.0 per cent previously forecast. Greece shrank by 6.9 per cent in 2011. The Greek economy is now in the fifth year of a ...
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Greece to Quicken Selling Off State Firms
Wall Street Journal
Greece's newly elected prime minister said he would ramp up privatizations, close down dozens of state agencies and overhaul the country's dysfunctional public sector. But he drew the line at further wage and pension cuts, as he tried to balance the ...
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Greece faces critical audit
The Daily Telegraph
Rescuing lenders was a key component of the latest Greek rescue package, which provided 50 billion euros to recapitalise private lenders like the National Bank of Greece or Alpha Bank. The banks were hit hard by the bailout package which included a ...
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Bulgaria-Greece friendship and cooperation of strategic importance: Bulgarian ...
Focus News
“Friendship and relations between Bulgaria and Greece are of strategic importance for the peace, stability and development of the region,” Bulgarian President Rosen Plevneliev said at a joint press conference after the meeting with Greek counterpart ...
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Greek Prime Minister Vows to Step Up Reforms
NASDAQ
NASDAQ News: Greek Prime Minister Vows to Step Up Reforms. ... ATHENS--Greece's newly elected prime minister vowed Friday to ramp up privatizations, close down dozens of state agencies and overhaul the country's dysfunctional public sector. ... Those ...
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Cyprus bank aid alone may cost 10 bln euros -report
Reuters
NICOSIA, July 4 (Reuters) - The cost of bailing out Cyprus'banks, weakened by exposure to Greece, could hit 10 billioneuros, a newspaper reported on Wednesday, referring topreliminary estimates by IMF. ... holdings of Greek sovereign debt, taking a 4 ...
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Rip off the Greek band aid
Sydney Morning Herald
A far higher price will be paid by EU members, especially Spain and Italy, if the Greeksdon't co-operate. And so it goes on. Another week, another summit—there have been 19 now in two years—and another bailout agreement. And still there is no sense ...
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Sydney Morning Herald
Greek Government: Not As Austere As It Claimed
National Review Online (blog)
Last week, I mentioned a rumor that the Greek government didn't actually cut spending and lay off public employees at the level that it had committed to in order to meet the bailout requirements. Now, it is official. According to Reuters: Greece ...
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Bulgaria President to be on official visit to Greece
Focus News
Bulgaria, Greece and Romania can work out together projects under the new European growth pact, which was agreed a few days ago, Bulgarian President Rosen Plevneliev and his Greek counterpart Karolos Papoulias agreed at a meeting in Athens, FOCUS News ...
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Train ride shows Greece's transformation
Reuters
While traffic jams in Athens are still notorious, some Greeks are dropping their cars for public transport to save money. On the train I also see the traditional litany of beggars. What is surprising is how often I now hear the word "homeless". At 80.1 ...
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Troika arrives in Athens to organise looting of Greece
Axis of Logic
Asked by the Guardian if she was “essentially saying to the Greeks and others in Europe, you've had a nice time and now it's payback time,” she responded, “That's right.” Prior to the visit of leading troika officials, their technical teams have been ...
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The Truth About Why German Elites View Southern Europeans as Inferior and ...
AlterNet
Sign up to stay up to date on the latest headlines via email. Now that Greek elections are over, many are looking to Germany for a solution to the Euro's woes. Unfortunately ... They assume that Germany enjoys great economic power primarily because its ...
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ECB official urges new Greek government to end delays on painful reforms
Washington Post
ATHENS, Greece — A senior European Central Bank official urged Greece's new government on Monday to avoid further delays in implementing major structural reforms.
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Greece Presses Case to Change Bailout Terms
CNBC.com
Greece conceded on Thursday it had slipped "in some respects" in implementing the cuts and reforms demanded by lenders in exchange for saving Athens from bankruptcy, and tried to persuade them to cut the country some slack. ... June Jobs Report Could ...
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CNBC.com
Greek Prime Minister Pleads For More Time To Meet Bailout Terms
International Business Times
Greek Prime Minister Antonis Samaras requested on Friday that European Union (EU) and International Monetary Fund (IMF) creditors extend a €237 billion bailout package for a grace period of two years to help the country survive its fifth year of ...
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Favorites Greece, Lithuania and Russia on track for final 3 berths at London ...
Washington Post
CARACAS, Venezuela — Greece, Lithuania and Russia entered the final qualifying tournament for men's basketball as the favorites to claim the last three berths for the London Olympics.
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Greece unable to collect €12.6bn fines due to lack of staff
Irish Independent
THE Greek government has been unable to collect €12.6bn in court-ordered tax fines because it has cut too many staff. ... within weeks if it fails to secure the next €31.5bn instalment of bailout funds. - Andrew Trotman. Download our Free iPhone App ...
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Irish Independent
Greece looks to easier rescue terms, eurozone ... - Pakistan Today
By hussain
Greece looks to easier rescue terms, eurozone gloom returns. News Comments ... Greek ministers have been instructed by the government to furnish data and refrain from making renegotiation requests, other Greek news reports said.
Pakistan Today | Latest news...
Greece now considered the 'land of the Kalashnikov'
Now the Kalashinikovs are coming into Greece from other Balkan states too, including Bulgaria and Serbia, but To Vima notes they cost less if they come over the Albanian border. Athens News reported that a joint U.S.- Greek operation ...
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