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Tuesday, December 4, 2012

Dutch lawmakers support Greek bailout package


Dutch lawmakers support Greek bailout package
Reuters
AMSTERDAM (Reuters) - Dutch lawmakers approved on Tuesday the latest bailout for Greece which includes measures to cut its debt load to 124 percent of national output by 2020. The approval was widely expected as Prime Minister Mark Rutte's Liberals ...
Dutch Coalition Lawmakers Back Greek Aid in Signal Vote to PassBloomberg

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Dutch lawmakers give majority support for Greek bailout package


Dutch lawmakers give majority support for Greek bailout package
Reuters
His party backed the new deal warning that the alternative was far worse: it said it supported the new deal because it would not involve stumping up more money for Greece even if it did mean an effective loss in interest on Greek bonds. Recent opinion ...
Dutch Coalition Lawmakers Back Greek Aid in Signal Vote to PassBusinessweek

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UPDATE 1-Dutch lawmakers give majority support for Greek bailout package


UPDATE 1-Dutch lawmakers give majority support for Greek bailout package
Reuters
His party backed the new deal warning that the alternative was far worse: it said it supported the new deal because it would not involve stumping up more money for Greece even if it did mean an effective loss in interest on Greek bonds. Recent opinion ...

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Tearful Angela Merkel re-elected as CDU party leader for seventh time

Germany's 'Mutti' appears emotional as Christian Democrat colleagues confirm her position with a 98% positive vote

She could have been doing an impression of a head girl speaking to her school on the first day of term: a slightly shy and inexperienced one, unsure of what to do with herself as she was heartily applauded.

Angela Merkel might be the most powerful woman in Europe, known invariably as the iron lady or Germany's "Mutti" (mum), but she fought back the tears on Tuesday, visibly struggling to swallow a lump in her throat as members of her Christian Democrats re-elected her as their leader for the seventh time, with a record vote approaching 98%.

Only her towering predecessors Helmut Kohl and Konrad Adenauer have earned better results.

A standing ovation which lasted for eight minutes – another record, and a whole two minutes longer than last year's, according to party conference observers – saw a somewhat embarrassed German chancellor, who yo-yoed between her seat and the stage, calling for reinforcements.

Lower Saxony's prime minister, David McAllister, a half-Scot who is often tipped as her successor – was beckoned on to the stage.

The euphoric McAllister, sometimes referred to as Merkel's lapdog, threw an arm around her shoulder. But you do not have to have observed Merkel all that closely to know she does not warm to such gestures. He soon felt the awkwardness and left her standing alone once again.

Commentators referred to the symbolism of the standalone leader: "Never before has a CDU party conference been so tailored solely to Merkel," said Michael König in the Süddeutsche Zeitung.

And as she launched the CDU's election campaign at its annual party conference in Hanover, it was clear that for the CDU at least, September 2013's vote will depend on a single personality. "Merkel is the CDU, the CDU is Merkel," said König.

For a political system like Germany's that usually has little time for the US-style politics of personality, it is something of a radical shift, reflected in the CDU's campaign slogan: "It all comes down to the chancellor."

With the wolf-whistles of some of the party faithful ringing in her ears, Merkel told the CDU she was "gobsmacked and moved" by the result, while in the very same breath urging them to "get to work", stressing there was "much to do".

Earlier, in a 60-minute speech which was likened to a state-of-the-nation address, Merkel, dressed in a black variant of her one-style-in-many-colours trouser suit complete with trademark brown-suede collar, praised her own government for being "the most successful since German unification in 1990", pointing out that Germany currently had the lowest unemployment rate and the highest employment rate for more than 20 years, and that the country was the motor of Europe.

It was a speech that might well have stuck in the gullet of any Greeks or Spaniards who happened to be watching.

As she has successfully done many times before, she turned the subject of the euro crisis, her approach to which has earned her the sharpest criticism outside Germany but hardly anything other than encouraging accolades at home, into an opportunity to portray herself as the solid captain at the helm of the ship.

"These are turbulent times and sometimes we … find ourselves in difficult, stormy seas," she said, adding that as the head of the CDU, she would lead the country "to safety with a clear course" and would also ensure that the country's export "Made in Germany" success story continued to flourish.

She added that the single most "herculean task of our times", at a time of increasing competition from Asia and India, was to defend German values.


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Greek court convicts 5 over negligence in huge 2007 wildfire that killed 36 people


Greek court convicts 5 over negligence in huge 2007 wildfire that killed 36 people
Fox News
Associated Press. ATHENS, Greece – A Greek court has convicted an elderly villager and four local officials on charges of negligence that led to 36 deaths five years ago in one of the country's worst-ever wildfires. Judges gave a suspended 10-year ...

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Maria Petrou

Leading authority on digital image processing – the science of using computer programs to identify important trends in data

Digital images abound in the modern world. As outputs of hospital scanners, surveillance satellites and countless other devices, they are a vital source of information. Making sense of the copious data that images produce was the focus of the work of Maria Petrou, who has died from cancer at the age of 59. Petrou was a leading authority on image processing – the science of using computer programs to identify important trends or anomalies in data. The applications are wide-ranging; from helping doctors to identify incipient tumours to producing evidence of environmental degradation.

Petrou was known for her discovery of the "trace transformation". This was a powerful technique used to encode essential information in an image, regardless of scaling or rotations, and it has had important practical benefits, for example in the development of face-recognition systems.

She also developed sophisticated "segmentation" procedures for sharply identifying edges and delineating simple shapes within a fuzzy image. The many uses of this include medical imaging, where a shape within the image, the contour of a tumour perhaps, is significant for diagnosis, and military surveillance, where shapes of objects must be extracted from images to distinguish between, for example, an enemy tank or merely a dummy. She described herself as a problem-solver and enthusiastically took on projects involving the application of general principles of image processing, computer vision and pattern recognition, to medical, geo-scientific sensing and other fields.

Maria was born in Thessaloniki, Greece, where she went to school and university, taking a degree in physics. She then gained a PhD in astrophysics from Cambridge University and went on to obtain a post at the university of Athens in theoretical physics before returning to England for a postdoctoral appointment at Oxford.

At a time of increased government funding for the applied sciences in the early 1980s, Petrou shifted to technology research, taking up positions at the Rutherford Appleton Laboratory and then at Reading University. Her growing reputation in a range of fields centred on robotics and image-processing led to her first academic post at a British institution in 1988 at the University of Surrey, which led the world in its work on satellite communications and related fields. She remained at Surrey until 1995, rising to the position of professor of image analysis.

Moving to Imperial College London, Maria was appointed professor of signal processing. She went on to head the communications and signal-processing group in the department of electrical and electronic engineering until 2009, subsequently taking up a position at the institute of CERTH in Thessaloniki, while retaining a quarter-time position at Imperial.

She received numerous honours, including a fellowship of the Royal Academy of Engineering in 2004.An unfailing advocate for women in engineering, she was active in organisations such as Women in Science and Engineering and the Women's Engineering Society.

Maria was a clear-minded person. In discussion, any position she took was backed by a fierce logic. She campaigned for human rights and helped to publicise abuses, for example the ill-treatment of servants by wealthy employers.

Ingrained rationalism co-existed in her personality with warmth and a sense of fun. On her website, she posed an open challenge to her peers to develop a robot for ironing clothes, to meet the exacting standards of her great-aunt. Her newsletters were often playful and illustrated with her own cartoons. She liked to express her opinions and maintained a Greek language blog in which she shared her views on various topics, from politics and economics to art and film.

She is survived by her son from a marriage that ended in divorce.

• Maria Petrou, scientist, born 17 May 1953; died 15 October 2012


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Greece, Cyprus, Portugal and Poland to pull out of Eurovision because they¿re ...


Daily Mail

Greece, Cyprus, Portugal and Poland to pull out of Eurovision because they¿re ...
Daily Mail
Four of Europe's most cash-strapped countries are set to pull out of the Eurovision song contest - in case they win and have to host the lavish event the next year. Greece, Cyprus, Portugal and Poland have all said they are 'very unlikely' to take part ...

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Greece Granted Two More Years To Correct Its Excessive Deficit


Greece Granted Two More Years To Correct Its Excessive Deficit
RTT News
The European Council on Tuesday agreed measures granting Greece an additional two years to correct its excessive budget deficit, following an agreement reached between the Greek government and the "troika" of international creditors - European ...

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FOREX-Euro at near 7-week high versus dollar on Greece hope


Business Recorder

FOREX-Euro at near 7-week high versus dollar on Greece hope
Reuters UK
Tue Dec 4, 2012 3:02pm GMT. * Euro extends gains vs dollar after Greek bond buyback. * Dollar weakens on U.S. fiscal deadlock. * Yen recovers after recent slide. By Wanfeng Zhou. NEW YORK, Dec 4 (Reuters) - The euro climbed to a near seven-week ...
Euro jumps to 6-week high vs dollar on Greek planHuffington Post

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Greece seeks to buy back bonds


Independent Online

Greece seeks to buy back bonds
Independent Online
Municipality workers take part in a rally against state sector layoffs demanded by the country's international lenders, in Athens December 3, 2012. Greece said on Monday it would buy back bonds through a Dutch auction as part of efforts to cut its ...


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News Summary: Greece's anti-bailout opposition party seeks delay in repayment ...


News Summary: Greece's anti-bailout opposition party seeks delay in repayment ...
Washington Post
BAD CYCLE: A week after Greece got slightly better terms for its bailout loans and debt reduction plan, the leader of the anti-bailout party said that the austerity policies pursued by government would weaken the economy and leave the country ever-more ...


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Greek brothel owner sponsors soccer team, league not pleased


New York Times

Greek brothel owner sponsors soccer team, league not pleased
USA TODAY
11:26AM EST December 4. 2012 - When an amateur soccer team in Larissa, Greece needed sponsors for this season, only one local business owner stepped up. Soula Alevridou donated $1,300 to sponsor the team, allowing it to buy uniforms and equipment ...
In Land of Bailouts, Greek Madam Rescues Local Soccer TeamNew York Times

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Greece, Cyprus, Portugal and Poland to pull out of Eurovision because they're ...


Daily Mail

Greece, Cyprus, Portugal and Poland to pull out of Eurovision because they're ...
Daily Mail
Four of Europe's most cash-strapped countries are set to pull out of the Eurovision song contest - in case they win and have to host the lavish event the next year. Greece, Cyprus, Portugal and Poland have all said they are 'very unlikely' to take part ...

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Hedge funds hold out for more from Greece


Livemint

Hedge funds hold out for more from Greece
Reuters
LONDON Dec 4 (Reuters) - Hedge funds are preparing to resist Greece's attempt to cut its debt by holding out against a government bond buyback in the hope of bigger gains further down the line. Greece had to offer a higher price than expected at a 10 ...
Greece launches debt buyback as Spain bank cash agreedLivemint
Greece's anti-bailout opposition party seeks delay in repayment of country's ...Fox News
Greece Begins Buyback as Merkel Floats Writeoff ProspectProactive Investors UK
Moneycontrol.com -Aljazeera.com -Chicago Tribune
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Portugal Not Seeking Greek-Style Restructuring Deal


Greek Reporter

Portugal Not Seeking Greek-Style Restructuring Deal
Wall Street Journal
By Patricia Kowsmann. BRUSSELS--Portugal won't seek a Greek-style debt restructuring deal, but will stay alert to opportunities to discuss better terms for the country where the principle of equal treatment applies, the country's top officials have ...
European Financial Officials Will Meet, Again, to Address the Greek CrisisNew York Times
Greek-style deal on Irish debt ruled outIrish Times
HIGHLIGHTS-Comments from euro zone finance ministers, officialsReuters
Greek Reporter -Irish Independent -Irish Examiner
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FOREX-Euro firms on Greek buyback, poised for more gains


CNBC.com

FOREX-Euro firms on Greek buyback, poised for more gains
Reuters
Euro extends gains vs dollar after Greek bond buyback. * Dollar weakness persists across the board. * Deadlock on U.S. fiscal issue resolution weighs. * Yen recovers after recent slide. By Anooja Debnath. LONDON, Dec 4 (Reuters) - The euro extended ...
Euro Extends Gains Vs Dollar on Greek BuybackCNBC.com
GLOBAL MARKETS: Global Manufacturing Data Add to Greek OptimismWall Street Journal
That Greek bailout you heard about? Now it's Greece's banks that are doing the ...Quartz
Sydney Morning Herald -KEYC TV -Reuters UK
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Greek hospitals in dire straits, threatening rise in infections


Greek hospitals in dire straits, threatening rise in infections
Irish Independent
GREEK hospitals are in such dire straits that staff are failing to keep up basic disease controls like using gloves and gowns, threatening a rise in multi-drug-resistant infections, according to Europe's top health official. Greece already has one of ...

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Austrian "bad bank" eyes gain on Greek debt


Austrian "bad bank" eyes gain on Greek debt
Reuters
VIENNA Dec 4 (Reuters) - Austrian state-owned "bad bank" KA Finanz stands to make a book profit by selling Greek state debt it had marked down sharply, Chief Executive Alois Steinbichler said on Tuesday. KA Finanz holds Greek debt with a nominal value ...

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EU health officials fear for disease control in Greece


EU health officials fear for disease control in Greece
Reuters
Greece already has one of the worst problems in Europe with hospital-acquired infections, and disease experts fear this is being made worse by a severe economic crisis that has cut health care staffing levels and hurt standards of care. With fewer ...

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Less gloomy Greek consumers ease economic mood in November


Kathimerini

Less gloomy Greek consumers ease economic mood in November
Reuters
ATHENS (Reuters) - Greek consumers' pessimism about the economy diminished in November after fears that the country might have to quit the euro zone subsided, data showed on Tuesday. The Foundation for Economic and Industrial Research (IOBE) said ...
Slight improvement in Greek economic sentiment in NovemberKathimerini

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When traditional architecture in Paris was recast in iron

Parallel exhibitions of architects Victor Baltard and Henri Labrouste show the 19th-century transformation of the French capital

Victor Baltard and Henri Labrouste, two Parisian architects who led parallel careers in the mid-19th century, are currently both the focus of major exhibitions. The Musée d'Orsay has chosen the work of the former, probably better known because he designed the pavilions at Les Halles, Paris's former central market stupidly demolished in 1972. Meanwhile the Cité de l'Architecture et du Patrimoine is featuring the work of Labrouste, who designed an extension to the old Bibliothèque Nationale.

In their different ways, both shows are remarkable for their design and the documents they present. Depending on how familiar you are with the history of the various buildings and construction techniques, you may move smoothly from one venue to the next or perhaps take a break, to avoiding confusing from these two leading proponents of neoclassicism and metal structure. Together they give a fine understanding of this turning point in architecture, when traditional materials were replaced by cast iron.

Labrouste was the first to upset the certainties of his contemporaries, during his stay at the Villa Medici, after winning the Prix de Rome in 1824. He caused a controversy in France when he submitted a project to rebuild the Greek temple at Paestum, southern Italy. Dismissing the idea that the relics of antiquity were part of some universal tradition, he suggested that Paestum should be seen in the light of its context and historical moment. It may seem absurd today that this idea should have caused such a fuss, but many feared it might open the way for personal interpretation and hence extravagance.

Labrouste in fact took advantage of his four years in Italy to enlarge his understanding of ancient and in particular Etruscan architecture. Its influence is apparent in the Sainte-Geneviève library, on Place du Panthéon, completed in 1850. This masterpiece makes good use of both classical styles and open-work iron arches to achieve a huge reading room. His drawings are breathtakingly beautiful, whether he is bringing Pompeii back to life, or competing to build the tomb of Napoleon Bonaparte.

The design of Structure Brought to Light is perhaps over-precious but leaves sufficient room for Labrouste's legacy.

Baltard was also awarded the Prix de Rome, but he spent as much time on painting as he did on architecture. He too took part in the competition for Napoleon's tomb and won, but ultimately the job went to Louis Visconti.

In 1845 Baltard was tasked with building Les Halles. Three years later he was asked to supervise work on the capital's town hall and churches. In 1853, two years into construction, Napoléon III visited the site and was appalled to discover the monumental masonry facade Baltard planned to erect. The emperor demanded a complete rethink, with a clearer and more legible design, in keeping with prevailing styles in Britain. The great pavilions were completed in 1870 and operated without alteration for almost exactly a century. Only one building has survived, with its characteristic metal structure and masonry cladding. Reassembled in Nogent sur Marne, it now serves as an arts venue. But the legend of these huge buildings, and all that went on there, lives on as a tribute to how the project fitted into Haussmann's redesigned city.

To avoid the use of tie-bolts, which he considered unreliable and unsightly, Baltard chose large triangular metal brackets to keep the structure rigid. A fine designer, with an eye for ornamentation, he paid particular attention to the cast-iron components.

The Iron and Paintbrushexhibition underlines his dual concern for structure and decoration. It brings together an impressive series of documents – paintings, drawings, photographs and even a scale model of a pavilion – to enlighten contemporary builders. Much as Labrouste, many chose to follow Baltard's example.

Henri Labrouste – La structure mise en lumière is at Cité de l'Architecture et du Patrimoine, Paris, until 7 January. Victor Baltard – Le fer et le pinceau is at Musée d'Orsay, Paris, until 14 January

• This article appeared in Guardian Weekly, which incorporates material from Le Monde


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Bond Buyback May Succeed, but Greek Crisis Far From Resolved


Wall Street Journal (blog)

Bond Buyback May Succeed, but Greek Crisis Far From Resolved
Wall Street Journal (blog)
The much-trumpeted bond buyback that is supposed to cut Greece's debt by €25 billion and convince the International Monetary Fund to approve a loan payment that the country desperately needs to stay above water may be successful and bring calm to the ...
Euro firms on Greek buyback, poised for more gainsReuters
Euro Finance Chiefs Confident Greek Buyback to SucceedBusinessweek
Hedge Funds Betting on Greek Buyback Gain as Europe Pays MoreSan Francisco Chronicle
New York Times -CNBC.com
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