Today: GREECE News, Aug 16, 2011

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Aug 16, 2011

GREECE News, Aug 16, 2011


Germany must defend the euro
China Daily
And they offered an extended aid package to Greece without building a convincing case that the rescue can succeed: they arranged for the participation of bondholders in the Greek rescue package, but the arrangement benefited the banks more than Greece. ...
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Why Excessive Debt is the Real Problem – Part II (Guest Voice)
The Moderate Voice
To finance these generous benefits, and to remain popular, the Greek government had to borrow enormously. When the economic crisis hit in 2008, Greek government debt had already reached 100% of GDP. This year Greece's total debt is expected to exceed ...
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The Moderate Voice
New Republic: Greek To You? Nope, Just Yogurt
NPR
According to a UBS report released in March, the two leading Greek yogurt brands — Chobani and Fage — now account, respectively, for 9 and 4 percent of the overall yogurt market. American bigwigs Dannon and Yoplait have suddenly found themselves on ...
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The welfare state was always an illusion
Guelph Mercury
The latest deals to “save” American and Greek public finances — those countries can now put themselves into even deeper debt — should puncture the illusion the welfare state was ever a success; fact is, it was always built on borrowed time and ...
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The Sinister Power of the Rating Agencies
Spiegel Online
Together with his colleagues at the rating agency, he has helped ensure that Greekgovernment bonds are now seen as "junk" and those from Portugal and Ireland are rated only slightly better. Being saddled with such a low rating makes it far more ...
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Spiegel Online
Keys for EUR This Week: Periphery Yields, European Equities, 2Q GDP
FXstreet.com
There was also the ramifications of the July 21st Summit – the template set that private bondholders had to take a haircut on Greek bonds - which caused a lot of unease in periphery markets. However, after the ECB shot its “bazooka” – buying Italian ...
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The difference between Aussies and Kiwis
Stuff.co.nz (blog)
If you are anti us having fun, turn your laptop off now. We drove to the coast, hopped on a ferry to Corfu and prepared ourselves for five days of a Greek Island drinkfest. Oddly, I can report back that the party didn't develop quite as we ...
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Stuff.co.nz (blog)
The secrets of Santorini
hellomagazine.com
For many it is the most enchanting of the Greek Islands; for some, a favourite across the entire planet. On the island of Santorini, man and nature live in harmony. Born from the fires of a volcano, today it is a land of sea and wind with ...
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Diving tourism a growing attraction in Greece
EMportal
The Greek seas are rich in such photographic material, and underwater photography in Greece was permitted, through legislation, just a few years ago. Taking advantage of the 2005 legislation allowing recreational diving throughout the country, ...
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Safe Global Debt For Bearish Bond Investors
Forbes
The Greek debt load, even if it is 120% debt-to-GDP, is way too high for a country that really is going through an austerity program to be able to grow their way out. Forbes: It's what Greece needs to do because their society and economic setup is one ...
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Tom Sutcliffe: Social media is TV's saviour, not its enemy
The Independent (blog)
But I did find myself wondering whether the Greek government might consider economising just a little on air defence. It's quite hard to get an accurate figure for the hourly flying costs of advanced military aircraft but I'd guess the daily ...
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The Big Dig: Reflecting On A Summer Of Archaeological Discovery
Cheshire Herald
And the Greek people are, in my experience, universally proud of this. They boast of the antiquity of their culture. They claim the the invention of everything from democracy to theater to justice and civic responsibility. ...
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Discovering The Delights Of Drama
Quest Bulgaria Property Magazine
If history of a classical nature combined with some of the world's most dramatic architecture, historical myths and legends and of course, interesting cuisine is to your taste, then Greece will not disappoint. This most ancient of countries is less ...
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Short on Solutions
Wall Street Journal
In the latest episode, regulators in France, Italy, Belgium and Spain decided late last week to stop the decline of European bank shares by imposing a short-selling ban on financial stocks for at least 15 days. Now, there's a novel idea: Restore ...
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The Reserve Bank decided global financial risks were to great to lift rates in ...
ABC Online
The Reserve also noted that the initial warm reception by financial markets of the latest Greekbailout had ebbed, with the plan insufficient to reduce Greek debt by enough to convince markets that the country could repay the debt that remained. ...
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Lesson From Europe (Take 2)
Wall Street Journal
As of June 2011, Eurostat reports that the unemployment rate in the euro zone was 9.9%. For the under-25s, it was 20.3%. In Spain, youth unemployment stands at 45.7%, which tops even theGreek rate of 38.5%. Then there's this remarkable detail: Among ...
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Bills.com Debt Coach Analyzes World Debt Crisis, Compares Consumer Debt ...
Marketwire (press release)
However, through accounting irregularities and an economic downturn, Greece is now faced with the danger of default. Greece has a $300 billion economy according to the IMF's measure of its GDP, which is dwarfed by its national debt of over 150 percent ...
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Germans Debate The Cost Of Keeping A Eurozone
NPR
Many own large shares of the Greek, Spanish, and Italian banks that would be stuck with the bad debts. The alternative to shrinking the eurozone is to redesign it in the other direction, by making it stronger and more unified, with stricter rules and ...
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FinMin: Bulgaria's Economy in Upswing, US, EU Must Learn from Us
Novinite.com
More and more foreigners are putting their money into our banks, especially people from Greece and Romania, but not only," Djankov declared on Nova TV Tuesday morning. He stressed that the tax burden in Bulgaria remains the lowest in the EU, ...
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Crete: A pilgrimage through the battlefields
New Zealand Herald
On the plain below, the small airfield is now used primarily for training Greek Air Force paratroopers and I watched from on high as a steady procession of small planes and even a couple of gliders took off from its runway. Beside the entrance to the ...
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People: Billy Crystal 'itchy' to host Oscars again
San Jose Mercury News
The actress later posted on Twitter pictures of a Greek beach, herself in a bikini and her wedding ring, with a yellow diamond possibly bigger than her bikini. But no shots of her husband. Reid, 35, who was previously engaged to Carson Daly and ...
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New-look basketball team heading to Greece
ZagsHoops.com (subscription)
By Matt Hodge When challenged to pronounce a number of different Greek foods on Saturday, senior Noah Hartsock simply said, “It's all Greek to me.” Well, everything will indeed be Greek to the Cougar men's basketball team as they travel to Greece from ...
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London Riots Will Engulf America
theTrumpet.com
Already, Greek-style austerity is looming over government budgets. Forced social spending cuts are coming. And when they do, America's cities will burn just as fiercely as Britain's. But economic collapse has a deeper cause. ...
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Iberdrola Surpasses 8000 Megawatts of Renewable Capacity in Europe
Your Renewable News (press release)
IBERDROLA is now the leader in wind energy in Spain, the UK, Greece and Hungary, and has ambitious projects in other countries; eg Romania and Poland. In onshore wind energy, this month IBERDROLA, through its Greek subsidiary Rokas, has brought on ...
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Greek and Irish blows knock RBS to $1.1 billion loss - Yahoo! News
Read 'Greek and Irish blows knock RBS to $1.1 billion loss' on Yahoo! ... in the second quarter, bruised by writedowns on Greek government bonds and Irish customers struggling to repay loans. ...Full Story »Deutsche Bank net rises 6 percent to $1.8 billion ... I hope that both countries will nowbail out the UK! ...
news.yahoo.com/rbs-posts-1-1-billion-loss-bruised-greece-062...

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