Greece is considering slapping a €162 billion invoice on Germany as compensation for the Second World War.
Athens has compiled a top-secret report that says the cash – enough to solve the Greeks’ debt crisis – is owed in war reparations, Der Spiegel reported.
Schäuble: “No hope for reparations”
German Minister of Finances considers reparations matter resolved and warns Greece of “not losing focus”
Immigrants rounded up in sweep of Athens and Greek cities who were being held in a detention center on a former military base in Corinth clashed with police on April 10.
Send the invaders back where they came from.
Comment from one of the readers:
“I was in Greece last May. In Athens most fo the shops are shut. I was walking in the city centre and asked someone for directions – she was a uni student – had a chat as we walked along and she said THERE ARE NO JOBS – MOST GRADS SHE KNOWS ARE LEAVING THE COUNTRY
I went to Crete – my cab driver was telling me [...]
Underlining that with her thin income she was unable to pay her debt to PPC, the woman explained how she lived in her one-bedroom home for a long period of time: No fridge, no heating, no shower, no light at night.
“she has been getting her meals at the soup kitchen of the local church,” a neighbor said expressing her outrage that no state official takes cares of elderly citizens.
The 80-year old [...]
from Silver Vigilante:
The IMF announced Friday that Greece might need more financing to the tune of 5.5 billion and 9.5 billion euros for 2015 and 2016 and said it had assurances from Europe the aid would be forthcoming for Athens in the final years of its international bailout. This is the first instance in which the IMF estimated the range of possible financing needs for Greece’s international bailout between 5.5 billion and 9.5 [...]
from Testosterone Pit.com:
“I’m wondering how much this society can endure before it explodes,” said Georg Pieper, a German psychotherapist who specializes in treating post-traumatic stress disorders following catastrophes, large accidents (including the deadliest train wreck ever in Germany), acts of violence, freed hostages…. But now he was talking about Greece.
He’d spent several days in Athens to give continuing education courses in trauma therapy for psychologist, psychiatrists, and doctors—for free, this being [...]
“Greece’s neo-Nazi Golden Dawn party has set up an Italian branch in the north-eastern city of Trieste, according to local reports.”
Golden Dawn in Greece picking up steam
“Golden Dawn is currently polling in third place with the support of 11.5 percent of voters according to a poll released yesterday and 14 percent according to a poll conducted two weeks ago.
In the June 2012 elections, Golden Dawn only got 6.9 percent of [...]
from Capital Account:
This weekend Athens passed a new austerity budget for 2013 with public sector cuts and privatization measures.
Greece is voting on midnight. Tommorow the E.U. us going to hold talks and Troyka included to let Greece fall out of the E.U. more to update @ midnight.
In Athens, thousands of demonstrators gathered in anticipation of a new vote on the budget for next year. The mood around midnight. Wednesday pulled a proposal cuts and tax increases anarrow majority . It is expected that the vote on the cuts in pensions and [...]
Average Greeks are reeling under the strict austerity measures passed in order to balance the country’s budget. Top earners, on the other hand, continue to evade the tax man. Most of the self-employed in Greece significantly underreport their earnings, whereas shipping magnates enjoy generous exemptions.
The principle of tax justice may be enshrined into the Greek constitution, but it has become increasingly obvious that not all Greek taxpayers are created equal. [...]
Greece says it has been granted an extra two years to meet austerity targets. The EU and IMF deny it. According to press reports, Athens needs an extra 20 billion euros in aid. It is difficult to determine exactly what might come next for the country, but commentators say it is clear that Europe is at a crossroads.
What is going on in the never-ending negotiations between Greece and its [...]
October 25, 2012
Euro zone officials are expected to press ahead on Thursday with plans to give Athens two more years to meet its budget goals as well as examine ways of closing the yawning gap in Greece’s finances.
Representatives of the International Monetary Fund, the European Commission and the European Central Bank — known as the troika — have been calculating how much more money Athens will need if it [...]
What the Spanish rumor of a bailout lite (as a reminder, the full blown Spanish bailout has already been largely priced in, and today’s action is a very confused market pricing in a second, bailout-lite) giveth, Greece taketh away.
From ANA via From Bloomberg:
“A second meeting between the heads of the EU-IMF troika mission in Athens and Greek Labour Minister Yiannis Vroutsis on Tuesday afternoon ended abruptly a few minutes ago, after the [...]
Mass protest continued in Athens with police barricading demonstrations in some parts of the city ahead of a visit by German Chancellor Angela Merkel. Greeks are rallying against the tough austerity measures demanded by European creditors, including Germany. Some 7,000 security officers are on alert, including rooftop snipers – the largest such deployment in Greece in 10 years.
Greece is teetering on the edge of collapse with its society at risk of disintegrating unless the country’s near-empty public coffers are shored up with urgent financial aid, the country’s prime minister has warned.
Almost three years after the eruption of Europe‘s debt drama in Athens, the economic crisis engulfing the nation has become so severe that democracy itself is now imperiled, Antonis Samaras said.
“Greek democracy stands before what is perhaps its greatest [...]
Greece may be in flames, but its stock market is doing quite nicely.
In fact, the gains so far this year have outpaced those in many financially stronger countries—especially China.
While Greece’s battle to combat its deficit, secure aid and implement austerity measures has roiled global markets since the start of the European debt crisis, its benchmark stock market index is set to end 2012 sharply in the black.
As of Wednesday, the Athens Composite Index had [...]
Greek workers have begun their first mass confrontation with Greece‘s three-month-old coalition government, grounding flights, disrupting local transport and shutting public service offices.
The general strike is being backed by the country’s biggest private sector force, the General Confederation of Greek workers (GSEE), the union of civil servants (ADEDY), and militant unionists attached to the KKE communist party.
All three groups are holding hold mass demonstrations in Athens – and some 65 cities [...]
For those to whom this comes as a surprise, following the periodic jaunts of Tim Geithner to Europe explaining just what is truly important in life, not to mention Obama’s daily phone calls to Mario Monti, we feel truly sorry:
EU-IMF REVIEW OF GREEK DEBT SITUATION SET TO BE DELAYED UNTIL AFTER U.S. ELECTION – EUROPEAN OFFICIALS
And the punchline:
“Obama doesn’t want anything on a macroeconomic scale that is going to rock [...]
Greece was said to be seeking billions in compensation from Germany for debts owed from the Second World War as the German Constitutional Court prepared to deliver its pivotal ruling on the eurozone bail-out fund
The top court yesterday dismissed an eleventh hour demand for delay by a eurosceptic politician, but stock markets were muted ahead of the ruling, which could de-rail plans to boost the European Stability Mechanism (ESM), the [...]
Greece’s Hellenic Republic Asset Development Fund has identified 40 uninhabited islands and islets that could be leased for as long as 50 years to reduce debt as pressure grows on the country to revive an asset-sales plan key to receiving international aid.
“We identified locations that have good terrain, are close to the mainland and have a well-developed infrastructure and, at the same time, pose no threat to national security,” Andreas [...]
STOCKHOLM: The eurozone crisis will get worse before it gets better and Greece could exit the single currency bloc within a year, Swedish Finance MinisterAnders Borg said in an interview on Saturday.
“I don’t think we’ve seen the worst yet in countries like Spain and Greece. They have such serious problems that Europe is going to be in a very difficult position during the next six to 12 months,” Borg told public broadcaster Swedish Radio.
The Swedish finance [...]
ATHENS (Reuters) – About 4,000 Greek police, coastguards and firemen protested in Athens on Thursday, staging faked suicides on gallows they placed outside the finance ministry and parliament to symbolize the pain of budget cuts.
“The troika is sucking our blood,” they shouted, referring to the European Union, the International Monetary Fund and the European Central Bank, the international creditors bankrolling Greece on condition it cuts public spending and raises taxes.
I normally never write anything that I cannot substantiate. However, I thought just this once I would relate something that was read to me.
My Wife reads many forums, one of which is a favourite of hers. Initially she told me of an American woman living in Greece, who used to relate the every day events in the part of Greece she lived in. This woman has since pulled her head [...]
Rise of the ancients: because they now have to pay for their medicines themselves, have applied hundreds pensioners gathered outside the Health Ministry in Athens. About 40 advanced to the office of the Minister. Who called the pensioners “villains”.
Athens – Due to new cuts in social spending and wages worsened the mood inGreece continue. In protest against problems in medical care applied pensioners on Tuesday stormed the Greek Ministry of Health. About 40 seniors [...]
by Alexander Higgins
EU leaders are downplaying the effects of a Greece exit as leaders meet to give Greece more time before officially declaring bankruptcy.
It’s ‘crunch time’ for Greece right now as the German leader and French president are working out whether to grant Athens the ‘breathing space’ it says it needs to sort its finances out – decoded as more time before it officially declares bankruptcy which Investment advisor Patrick Young [...]
The German Chancellor Angela Merkel and French President Francois Hollande put forward a united front when they met in Berlin on Thursday to fine-tune their message to Prime Minister Samaris.
“It is important for me that we all stick to our commitments… but I will encourage Greece to continue along its path of reforms,” Merkel said in a brief statement ahead of a working dinner with Hollande.
Economy Minister Philipp Rösler believes that Greece has no interest in reforms to tackle the euro crisis.His disillusionment and their backgrounds, he said in an interview with FOCUS.FDP party colleague, Guido Westerwelle, however, still has hope.
“I’m disillusioned,” Roesler said in an interview with FOCUS.“Together with the German economy, I’ve offered the Greek government was much support.. Hardly any of our services has used the Greek side, “he complained, that the [...]
GREEK PURGE! (mostly Muslim) :)
Up to 6,000 were detained over the weekend in Athens and more than 1,600 are to be deported in the next few days.
There are also growing fears that there could soon be an influx of migrants fleeing the Syrian civil war. Greece has long been Europe’s main entry point for Muslim illegal invaders from Asia and Africa.
Up to 80 per cent of all Muslim migrants heading [...]
From Megan Greene, Roubini Global Economics:
Before you take off for your August holiday, you should probably be aware of what you’ll be coming back to in the eurozone (EZ) in September (warning: the following may make you decide not to come back). For the second September in a row, developments in the EZ have the potential to be highly dramatic, and this time not just in the weaker, peripheral countries.
Brussels has been mercifully quiet over the last few days, but the moratorium on action won’t last beyond Sept. 12 — if it lasts that long.
Some European Commission and European Council staff will be here throughout August, but the commission’s economics man, Olli Rehn, his office informs us, does not intend to be back in town before the last week of August.
The markets are open. The troika — European Commission, European [...]
BERLIN (AP) — Germany’s finance minister said in an interview published Sunday that he can’t see room for further concessions to Greece, insisting anew that the country must implement far-reaching reforms and cut its budget deficit.
International debt inspectors are scrutinizing Greece’s finances and its progress in implementing unpopular budget cuts and reforms demanded in exchange for the rescue loan program that is keeping the country afloat.
Greek officials have called for [...]
We may have to add China to the list of Olympic hosts that got a raw deal.
Most of the $3-billion in new stadiums, renovations and training centers prepared for the 2008 games are mostly empty and losing money, according to Caixin’s Wang Yuqian.
Some highlights from Caixin:
Only a third of major sports venues nationwide break even.
The rest of them lost $44 million in 2010 alone.
Beijing’s famous Bird’s Nest hosted only 12 events [...]