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Sep 3, 2011

GREECE News, Sep 03, 2011


There's Not Much To The Report That Greece Considered Leaving The Euro
Business Insider
UPDATE: After speaking to Cleary Gottlieb and a reporter from the Greek newspaper Eleftherotypia, we have found that an early report out of Greece was insignificant. A paper on the legal issues involved with a country leaving the Euro was presented at ...
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Business Insider
Greek Recession Weighs on Debt Dynamics, Parliament Report Says
San Francisco Chronicle
31 (Bloomberg) -- Greece's deepening recession will weigh on the country's debt, even after European Union leaders moved to cut rates on official loans and helped relieve the debt burden a month ago, a Greek parliament report said. ...
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Choice for EU: Bail Out Greece or Bail Your Banks
Wall Street Journal
She may have been warning about the costly alternative to a solution to the Greek sovereign crisis. But it could well be too late. Finnish insistence on additional collateral against any further bailout loans it makes to Greece threatens to scupper ...
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Moving On From Greece?
Wall Street Journal
The Finance Ministry now projects the economy will shrink 4.5%-5.3% in 2011, versus a prior forecast of 3.9%. The deficit may fall only to 8%-8.5% of GDP versus a target of 7.6%. And it isn't clear that the latest bailout will stave off an ultimate ...
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Wall Street Journal
No More Austerity, Please, We're Greece
Wall Street Journal (blog)
Sure enough, they did it. Only now Greece is already kind of wishing they hadn't, and the rest of Europe is thinking they didn't do enough. The Greek government is saying that the country has taken about as much austerity as it can stand. ...
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Ninis goal gifts Greece win in Israel
Kathimerini
By George Georgakopoulos Sotiris Ninis scored a wonderful goal to give Greece a crucial victory in Israel on September 2 for the Euro 2012 qualifiers, keeping it at the top of the table of its group.Greece now has 17 points out of seven games, ...
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Piraeus Takes Greek Debt Write-down
Wall Street Journal
Greek media reports last week suggested that Piraeus Bank tapped the facility for an overnight loan of €2 billion. According to officials at Greek banks, other lenders are expected to follow. The write-down of the bank's bond holdings was part of a ...
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Perfect Storm: Markets Drop, Job Report, EU Crisis. QE-3 Looms
Wall Street Journal
The European Union is also facing major problems this morning, the second Greek bailout deal seems to be falling apart by the minute. We can now only wonder when Greece will go back to theGreek Drachma. Many traders and investors are now wondering if ...
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Latest tax hike on eating and drinking out hits Greece
Demotix
With salaries for young Greek now hovering around the 500E a month level the possibility of they're being able to afford $8.50 iced coffees at Starbucks is fading fast. Cafe and restaraunt owners arenow threatening to withold the tax while most local ...
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Euro zone nearing Greek collateral compromise
Reuters
"(The collateral deal between) Finland and Greece, I understand that is off the table now. There are other arrangements being made to compensate," Noonan told a financial parliamentary committee. The wrangle has further undermined confidence among ...
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The Trouble With Greece's Banks
Wall Street Journal
The latest EU-IMF audit of Greece's books entered its final phase this week, which is one reason why Athens may have been so keen to see the banks merge. But streamlining the Greek financial system won't suddenly make it immune to failures. ...
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Wall Street Journal
What Greece Needs Now Is A Dictatorship
Business Insider
It was bloodless affair since the army was on strike and to busy hanging out on the beach with gorgeous Greek women. Work, which mainly involves cleaning up our financial mess, will begin after a splendid lunch of souvlaki and grape leaves followed by...
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Business Insider
Greek bond swap may offer value, boost debt demand
Reuters
Despite the haircuts involved in the swap, for current bondholders -- or fresh investors -- who believe it will allow Greece to draw a line under its fiscal problems and avoid a more painful debt restructuring, analysts say depressed Greek bond prices ...
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Finland's deal won't stop Greek bailout
CNNMoney
NEW YORK (CNNMoney) -- Amid worries that the latest bailout for Greece could unravel, Eurogroup President Jean-Claude Juncker said Monday that Finland's objections will not derail the rescue effort. In remarks to the European Parliament, ...
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An inverse reaction for bonds that plunged sharply
FXstreet.com
Inspectors also reportedly doubt that Greece can meet its privatization targets. June all over again? A government official responded to the story and acknowledges the shortfall, but put the Greekdeficit in the range of 8.1%-8.2% of GDP this year well ...
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It's all Greek now for Roy Carroll
Belfast Telegraph
“To be honest the reason I've come to play in the Greek League is because there was nothing else on the table that appealed to me,” he says. “I had a few offers from lower league clubs, but they didn't present me with the opportunity I'll get in Greece ...
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There's profit to be had amid Greece's desperation
Financial Times
If finalised, such a combination would create a telecoms operator to match the market clout of Cosmote, the former incumbent market-leader which is now 40 per cent owned by Deutsche Telekom. The Greek crisis has its roots firmly in the public sector ...
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Property returns. What now?
Kathimerini
This practice, which has for decades been adopted by successive Greek governments, is considered safe but its main weakness is that any talks held in this context will most probably lead to broader settlements. Greece and Turkey have for years held ...
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Report: Corey Maggette expected to sign in Greece
Yahoo! Sports
Now, like a lot of other pro basketball players, he may be adding a jersey to his collection that is unfamiliar to most NBA fans. Eurobasket reports that the 6-6 Maggette is expected to land in theGreek city of Thessaloniki Wednesday and negotiate a ...
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Video: Greek basketball fans love Corey Maggette for some reason
Yahoo! Sports (blog)
Earlier this week, Maggette arrived in Greece to thunderous cheering. On Thursday, Kelly Dwyer picked out a news report claiming there were hundreds of fans to greet him . But that description does not communicate the sheer excitement present when ...
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Athens Cop On The Trail Of Modern Greece
NPR
The writer says his own cosmopolitan background allows him to view Greek society from a distance, without sentimentality. He says his readers sometimes ask what he and his character have in common. "The way of observing Greece and the Greeks — this is ...
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Volcanic Artifacts Imply Ice-Age Mariners in Prehistoric Greece
U.S. News & World Report
"Obsidian was a precious natural rock-glass found only in Melos, some in [the modern-day Greekareas of] Antiparos and Yali," explained Nicolaos Laskaris of the University of the Aegean in Greece. "From there it was spread all over the Aegean and in ...
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Greece 'to export solar power to Germany'
AFP
Greece's unemployment rate has steadily shot up this year, hitting 16.6 percent in May 2011 from 12.0 percent in the same month the previous year. The Greek economy is expected to shrink by at least 4.5 percent of output this year after two previous ...
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AFP
UPI NewsTrack Business
UPI.com
The dispute between the Greek government and international inspectors arises from differing views over Greece's economic outlook for this year and next, and whether the government will have to take additional measures to meet its deficit targets. ...
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Greek EU-IMF rift over second bailout instalment – reports
Newstalk 106-108 fm
Greece has denied reports of a rift with EU-IMF auditors who cut short a visit after noting Athens had failed to meet targets to unlock more rescue funding. The Greek Finance Ministry is insisting the second instalment from the €110 billion bailout ...
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Deals of the Day: Kleiner Perkins Plays Catch Up in Latest Web Boom
Wall Street Journal (blog)
[Bloomberg] Alpha Bank-Eurobank: Two of Greece's largest lenders, Alpha Bank Eurobank Ergasias announced plans to merge that would create the country's largest bank, in a bid to address mounting problems in the Greek banking sector. ...
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ISDA Reviews Rules For When Default Insurance Should Pay Out
Wall Street Journal
Questions also have surrounded the treatment of CDS referencing Greek debt. Greece is considered by many market participants to be broke, but because a bailout package agreed in July was billed by regulators as voluntary--despite private bondholders ...
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Original Greek Festival Celebrates 45th Anniversary Oct. 6-9
The Paper Magazine
Nessiotika are dances from the Greek islands, Demotika are from the mainland, and Laika are danced throughout Greece. Live Greek music will be provided by "The Golden Greek," Alex Kalos, a longtime festival favorite. Festival goers will be presented ...
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Euro exchange rate, EUR: The risk that is Greece continues to loom
Euro Exchange Rate News
It concluded that all this casts doubt on Greece's mid-term fiscal plan, which we note was only narrowly approved by the Greek parliament two months ago. The timing of these remarks is particularly sensitive given the IMF is currently assessing ...
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Greek monastery moving
News24
(Nikolas Giakoumidis, AP) This guide aims to be a strong incentive to the inquisitive voyager toGreece. Now R394.95 Thessaloniki - Engineers in northern Greece on Thursday began a costly operation to move a 12th-century Byzantine monastery that ...
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The Eurozone Crisis Then and Now
ISN
This debt restructuring problem then became a sovereign default problem (in Greeceand the PIIGS), quite obviously a problem for the European banking system as a whole. This complex of problems is now threatening to become a liquidity crisis for the ...
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ISN
Greek Fest celebrates tenth year in Greater Victoria
Saanich News
Members of a dance troupe from Mesolonghi, Greece stand inside the Greek Orthodox Church on Elk Lake Drive. The troupe will perform at Greek Fest, which runs now through Sept. 5. By Natalie North - Saanich News Bring out the baklava, and get ready for ...
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Greece Recovers Stolen Rubens Oil Sketch
New York Observer
The two suspects were allegedly trying to flip the painting for a cool €1 million, or about $1.4 million. As a special bonus, Greek officials also revealed that they had arrested six more Greeks in a separate raid on charges of looting various ...
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New York Observer
Wall Street survives Irene scare
India Infoline.com
Greece was in the spotlight after EFG Eurobank Ergasias and Alpha Bank - two of the country's big lenders - announced plan to merge. That sent shares of the National Bank of Greece up by 36.5%. News of that deal also buoyed the Greek stock market. ...
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Greece Targets Online Gambling Tax Evaders
Online Poker.net
Greek banks are unwitting accomplices in this because all the transactions are done using credit cards.” In support of the new government offensive, a hot-line has now been arranged to allow citizens to report any suspected activities, ...
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France Says There Must Be No Bilateral Accords On Greece
Business Insider
Last week Finland sparked controversy when it negotiated a bilateral collateral agreement with Greece as a condition of its participation in the Greek bailout. A host of other EU countries jumped on board the collateral bandwagon, and now bickering ...
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Business Insider
Stock Market News for August 30, 2011
Zacks.com
The Greek bank deal, lower than expected damage from hurricane Irene, and an encouraging consumer spending report, combined together to push the benchmarks significantly higher on Monday. However, volumes remained low as Irene kept the traders away ...
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Indonesian lesbian couple forced apart; Here Media expands to Greece
Windy City Times
Beginning with the December 2011 issue, Here Media and Greek publisher G. Piliouras, Ltd., will produce a Greek-language edition of OUT magazine. G. Piliouras, Ltd., will collaborate with OUT Editor-in-Chief Aaron Hicklin to translate the brand's ...
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Adventures by Disney Announces Two New Family Travel Tours - Greece & France!
Child Mode (blog)
Athens, Santorini and Crete – the adventure starts in Athens where Greek mythology comes to life through moonlight storytelling at the Parthenon and sporting games at the home of the modern Olympics, Panathinaiko Stadium. Discovery continues on the ...
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ekathimerini.com | Greece red-faced after leaked debt warning
The report, excerpts of which were reported by the semi-state Athens News Agency on Wednesday, warned that the dynamic of Greeceís enormous debt is îout of controlî. It said that slippage on meeting deficit targets, exacerbated by a deep ...
ekathimerini.com : Latest News
12th Century Monastery is Moved on Wheels… | Greece ...
By Apostolos Papapostolou
It has stood at the same spot for more than 800 years but now a 12th century Greek monastery is on the move to make way for a hydroelectric dam. The nuns who. ... Greece Hollywood USA Australia Canada Europe World You TV OPA.fm Classifieds Travel Map GR · Home · About · Stock Exchange · Greek Newspapers · Study Abroad Greece · Greece.GreekReporter.com Latest News from Greece Greek News on Politics, Sports, Entertainment & Economy. News · Politics · Money · Life ...
Greece.GreekReporter.com Latest...
Greece Itself Now Openly Ridicules Europe's Lies Of Greek "Stability ...
By Tyler Durden
The new projections will be included in the next quarterly report on Greece, Rehn said according to a text posted on the parliament's website. Thus the official beginning of the end of the Euro and Eurozone starts. Perhaps Europe can now ...
Restaurants ... - Greece.GreekReporter.com Latest News from Greece
By Apostolos Papapostolou
... You TV OPA.fm Classifieds Travel Map GR · Home · About · Stock Exchange · GreekNewspapers · Study Abroad Greece · Greece.GreekReporter.com Latest News from Greece Greek News on Politics, Sports, Entertainment & Economy ...
Greece.GreekReporter.com Latest...
Alpha and Eurobank Agree to Merge | Greece.GreekReporter.com ...
By Apostolos Papapostolou
Two of Greece's three biggest lenders, Eurobank EFG and Alpha Bank have reached an agreement to merge, according to reports, which would create one of the. ... Greece.GreekReporter.com Latest News from Greece Greek News on Politics, Sports, Entertainment & Economy. News · Politics · Money · Life · Health · Religion · Travel ... Qatar private investors who already have a stake in Alpha will participate in the new entity, according to one person. Chairman of the new lender will ...
Greece.GreekReporter.com Latest...
Greek FM slams damning budget report — RT
By RT
The Greek finance minister has criticized a report on the economy which said Greece was likely to miss its budget targets this year due to months of delays in implementing austerity measures and a deeper than expected recession. ... Go to main page News Greek FM slams damning budget report... A financial report issued late on Wednesday by Greece's special budget monitoring committee has warned the country's parliament that its enormous debt is now out of control. Facing a ...
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Greece budget watchdog warns 'debt is out of control' – Telegraph ...
By Daniel
InvestmentWatch – The best source of news, analysis, and intelligent discussion · By EmailPosts ...The Greek finance ministry went on the defensive after a new budget watchdog released an internalreport warning that debt was “out of control”. Greece budget watchdog ... Greece is currently undergoing an audit which will determine whether it will be given the latest portion out of an earlier €110bn loan that pulled the country back from the brink of bankruptcy last year. The Greek ...
InvestmentWatch - The best source...
Report: Greece set to miss deficit target - Yahoo! News
Read 'Report: Greece set to miss deficit target' on Yahoo! News. Greece is likely to miss its ...The latest loan deal struck on July 21 with the European Union and ...
news.yahoo.com/report-greece-set-miss-deficit-target-202007...
Report: Greece set to miss deficit target | Athens News
Athens News is Greece's oldest English-language newspaper and offers news on politics, ... Thelatest loan deal struck on July 21 with the European Union and ...
www.athensnews.gr/portal/11/46710
Greece admits budget overshoot - Latest news around the world and ...
Greece admitted on Friday its budget targets were in trouble because of a deep ... Venizelos said the contraction in the Greek economy this year will now be "very ... He added that there was no truth to reports that talks between Greece and the ...
news.ph.msn.com/business/article.aspx?cp-documentid...
Volcanic Artifacts Imply Ice-Age Mariners in Prehistoric Greece - US ...
US News & World Report Science ... and shipping the once valuable rocks from the island of Melos in modern day Greece as far back as 15000 years ago. ...
www.usnews.com/.../volcanic-artifacts-imply-ice-age-mariners...

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