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Welcome, 77 artists, 40 different points of Attica welcomes you by singing Erotokritos an epic romance written at 1713 by Vitsentzos Kornaros

Tuesday, January 7, 2014

Greece Faces Uphill Battle to Tackle Crisis

HALIFAX, NOVA SCOTIA (IDN) - Greece faces the unenviable choice between accepting the terms of “the Troika” and facing the continuation and deepening of a socio-economic crises, which includes five years of negative growth, over 23% unemployment, an ...

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'Shrek' to come alive at Greece Olympia

'Shrek' to come alive at Greece OlympiaRochester Democrat and ChronicleCollin, a senior at Greece Olympia High School, plays the ogre in Olympia's upcoming production of Shrek the Musical. So that means… "It's my first time being painted green," said Collin, 17. "I'm up for anything." Shamiya Morton-Austin has the role ...and more »

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Greek police seek convicted killer who vanished while on prison furlough

Greek police seek convicted killer who vanished while on prison furloughMinneapolis Star TribuneATHENS, Greece — A jailed far-left terrorist gunman serving six life sentences vanished while on New Year's leave, prompting Greece's embarrassed government to review the prison furlough system. The escape prompted a nationwide manhunt Tuesday ...

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George Osborne talks tough but acts like a Labour chancellor

Despite the claims to austerity, Britain has seen nothing to compare with the cuts imposed on the Greeks or Spaniards

Is George Osborne genius or monster? Is he godsend or Satan? When he said on Monday that Britain must take another £25bn in "cuts", half of them from welfare, was he declaring a manifest truth or peddling a tissue of electioneering mendacity? The trouble is the answer must be one thing or the other. It will depend not on the answer but the answerer, on tribal membership. There was no way that Ed Balls for Labour or Nick Clegg for the Liberal Democrats would yield an inch to Osborne. As a Tory he was not necessarily wrong, just wrong tribe.

A horrible possibility is starting to dawn on Osborne's opponents. His classic election-cycle strategy – early austerity then boom as the next election approaches – might be working. His deficit and borrowing targets might be adrift and his cuts callous or chaotic, but growth has clearly returned. Politics is about ends not means. Britain's least popular man in recession could be forgiven a mild satisfaction in now giving his party at least a ghost of a chance in 2015.

I continue to believe that Osborne was wrong in his approach to the recession. Guided by City friends, he pretended to extreme austerity to maintain "credit confidence abroad", but he thereby wrecked credit confidence at home. He imposed on the economy a savage liquidity squeeze, with 20% VAT on high-street spending, with commodity prices rising and credit drying up. Osborne forced banks to build up reserves, and when he printed "new money" it was not for the public to put into circulation but for banks to save. When triple-dip recession threatened a year ago, he simply threw billions into inflating the housing market, his one successful act of monetarism.

Osborne was like his predecessor, Alistair Darling, in not calling on the intellectual muscle to challenge the City and the Bank of England as they collapsed under the twin burdens of impending bankruptcy and Sir Mervyn King. The "regrets" of departing monetary policy committee members – among them David Blanchflower, Kate Barker and Adam Posen – should enrage Britain's bankrupts and unemployed.

The poor got nothing and the bankers got billions. Yet at the same time, and contrary to political lore, Osborne did not cut public spending. In 2009, at the high point of Gordon Brown's squandermania, total government spending was £633bn. After four years of supposed "austerity" it has risen to £718bn, and in 2015 it will rise to £728bn. Even in real terms it dipped only marginally between 2011 and 2012 (by 1.5%). The British people have seen nothing to compare with the real cuts imposed on Greeks or Spaniards, or on Canadians to balance their books back in the 1990s.

Any critic wanting to portray Osborne as a "son of Gordon Brown" would have no trouble. His borrowing is exorbitant, hovering around £100bn. He has been fiscally reckless in safeguarding the NHS budget, education and overseas aid. The state pay bill was sustained at least until this year, despite a "pay freeze". The Office of National Statistics showed government workers moving ahead of private sector ones by 8% by 2012, the gap narrowing only in the past year.

This was never true under Labour. Most departments are still outspending what they did in the lavish Blair years. Even the much-abused culture budget was £6.7bn in 2012 (excluding the Olympics) against just £4.9bn in 2008.

The big loser has been local government. There have been annual cuts of up to 15% in the quarter of public spending that passes through local councils. They have borne the lion's share of the burden so as to relieve Whitehall budgets of real pain.

Not since Margaret Thatcher has "local Britain" been so abused as under this coalition. Osborne and David Cameron regard it as politically expendable territory. But the result is for a largely phoney "cuts narrative" to be overwhelmed by real cuts in day centres for the elderly, childcare, sports clubs, museums and theatres. Frontline services that people notice have truly suffered.

Behind all this lies a gigantic irony, that while Osborne's squeeze extended the recession in high-street spending and thus hit the private sector, his relative leniency towards the public sector rescued demand from even worse suffering. It was Osborne the spendthrift who nursed eventual recovery. To this extent he was more a Labour chancellor than a Tory one.

Indeed, after listening to Balls evade every question put to him this week, I realised he would have done much the same as Osborne, mistakes and all. Balls never challenged Osborne's subservience to the City and the Bank. He never questioned the liquidity squeeze or demanded risks be taken with inflation. He pretended Osborne was fiscally austere, when he must have known he was not – hence his waffling response to Osborne's remarks on welfare.

What has made Osborne an easy target for his enemies – and deflected attention from what is good in his policy – have been his crude lapses into favouritism. He reduced top-rate tax for the rich. He refused to revalue expensive homes for council tax. He has given billions of pounds to wealthy land-owners for wind turbines. He continues to spend insane sums on nuclear power stations, aircraft carriers and high-speed trains. Last year he squandered cash on housing developers just when the housing market was recovering. He thus played to Balls's one strong suit, that Osborne's economics are "unfair".

This should still not affect the validity of Osborne's basic message, that Britain's debts are cripplingly expensive and will get more so as interest rates rise. While they could be ignored in recession, they must be tackled in recovery.

As Keynes said: "The boom not the slump is the right time for austerity." Almost all independent opinion – on Monday, from the Institute of Fiscal Studies – accepts that £25bn of further cuts is a minimum to begin to bring down the debt burden by 2018. Some cuts in welfare obligations are unavoidable to achieve it.

However such cuts are dressed up, there really should be a degree of consensus on a prudent path for Britain from a terrible recession to the uplands of stable growth. As it is, this week's debate on the economy has been near illiterate. There was no argument, just tribal warfare.

Economic policyEconomic growth (GDP)EconomicsGeorge OsborneAusterityConservativesLiberal-Conservative coalitionLabourSimon Jenkinstheguardian.com © 2014 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds


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Greek convicted terrorist escapes from prison on Christmas furlough

Greek police have launched a nationwide manhunt for convicted far left-terrorist, Christodoulos Xiros, after he failed to report to the authorities during his New Year prison leave. Authorities are now considering a review of the prison furlough ...

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Greece's Kissing Gays Defied Neo-Nazis and Bigot Bishops Yesterday

I have always been ambivalent about January 6. It is the day before my birthday, which means I can get presents and get drunk. On the other hand, it is a great celebration of Orthodoxy. Greeks gather at various ports around the country and watch a rather ...

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Budget revenues for the first 11 months of 2013 beat their target

Budget revenues for the first 11 months of 2013 beat their targetCapital.gr (press release)However, data from the General Secretariat for Public Revenues also showed an increase in expired debts from 62.88 billion euros to 63.34 in November, as Greek taxpayers are finding it increasingly hard to meet their obligations. The total of overdue ...and more »

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Protests off limits for Greece's presidency kick-off, minister says debt talks on track

ATHENS, Greece - Greek authorities imposed an 18-hour ban on protests across the centre of Athens during events planned Wednesday to mark the inauguration of the nation's six-month presidency of the European ...

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Greece: police launch search for 'November 17' convict

Edmonton JournalGreece: police launch search for 'November 17' convictANSAmed(ANSAmed) – ATHENS, JANUARY 7 – Greek police in the north of the country have launched a manhunt after a convicted member of the November 17 Revolutionary Organisation terrorist group who was on seven days' leave from prison appears to have ...Greek convicted terrorist vanishes on furloughMiamiHerald.comGreek Police Hunt for Convicted Terrorist Who Disappeared on FurloughNew York Timesall 47 news articles »

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European Bonds Rally From Ireland to Greece Amid Growth Optimism

European Bonds Rally From Ireland to Greece Amid Growth OptimismBloombergEuropean government bonds jumped, with yields from Ireland to Greece dropping to the lowest since at least 2010, as signs of the region's economy is recovering helped spark a surge in demand for the securities. Spain's 10-year yields dropped to the ...and more »

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Pete Smith resurfaces in Greece

TBI VisionPete Smith resurfaces in GreeceBroadcastFormer NBC Universal International president Pete Smith has joined Greek broadcaster Antenna Group as managing director. The hire comes two months after Smith departed UK and Canadian indie Cineflix, where he was chief executive of drama division ...Pete Smith, the former NBC Universal and Cineflix Studios boss, has been ...TBI VisionGreek Media Group Antenna Hires Former NBCUniversal PresidentGreek Reporterall 12 news articles »

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British MPs seek probe into killing of teen at Crete resort

Two British MPs have called for UK authorities to take a more active role in the investigation over the death of a young Briton during a brawl in the Greek seaside resort of Malia in Crete in July, for which another young Briton was arrested by local poli... ...

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President, minister call for stricter rules for terrorism convicts

Greek President Karolos Papoulias and Public Order Minister Nikos Dendias on Tuesday stressed the need for stricter procedures regarding prisoners' privileges just hours after a convicted terrorist violated the terms of his furlough and is considered by a... ...

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EU presidency’s real challenge

The comments in many European news media questioning whether Greece has the ability to fulfill its commitments as EU president this semester seem to overlook two very important aspects of the presidency: No country is on its own when it holds the position... ...

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Heavy fog in Thessaloniki causes delays to flights

Heavy fog at the Makedonia International Airport of Thessaloniki in northern Greece on Tuesday morning caused flight disruptions, the state-run Athens-Macedonia News Agency has reported. According to aviation authorities, the airport's morning flights too... ...

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Winter sales to start on January 13 and end February 28

Winter sales will start on Monday, January 19, and run through Friday, February 28, with shops having the option of staying open on Sunday, January 19, the National Confederation of Greek Commerce (ESEE) announced on Tuesday. ESEE issued a circular that w... ...

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ESM chief rules out Greek debt restructuring

The head of the eurozone's bailout fund, Klaus Regling has ruled out the possibility of a restructuring of Greek debt, media outlet EU Observer reported on Tuesday. Speaking to Germany's Spiegel magazine, Regling - who heads the European Stability Mechani... ...

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November 17 terrorist escapes custody while on furlough [Update]

Convicted November 17 terrorist Christodoulos Xeros was at large on Tuesday after failing to check in with his local police station in Halkidiki, northern Greece, while on furlough. Police launched a manhunt for the 55-year-old musical instrument maker wh... ...

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Damage from fire at dairy factory on Christmas Eve estimated at over 18 mln euros

The damage caused from a large fire at a dairy factory in Serres, northern Greece, on December 24, has been estimated at 18.75 million euros, the firm, Kri-Kri, announced on Tuesday in a filing at the Athens Exchange. According to the announcement, the fa... ...

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Healthy rise leads index to level unseen in 30 months

Foreign investors managed to turn things around at the Greek bourse on Tuesday. After a morning dominated by losses, the benchmark index climbed to a 30-month high, as the market’s strong players appear to be backing the government’s claim that 2014 will ... ...

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Savvas Xeros, brother of escaped convict, transferred from prison to hospital amid tight security

Police on Tuesday ramped up security for the transfer of convicted November 17 terrorist Savvas Xeros from Korydallos Prison near the Greek capital to Larissa University Hospital in central Greece, after his brother, Christodoulos Xeros, also a convicted ... ...

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Safe deposit boxes no longer safe for Greek tax dodgers

Greece’s tax authorities are now targeting safe deposit boxes, as a circular sent out by the Finance Ministry states that when a major case of corporate tax evasion is identified, inspectors will confiscate 50 percent of the cash held in safe deposit boxe... ...

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Greek Org of Football Prognostics S.A. : Amendment to Combined Synopsis/Solicitation

This is a combined synopsis/solicitation for commercial items prepared in accordance with the format in subpart 12.6 and Part 13.5, as supplemented with additional information included in this notice. This announcement constitutes the only solicitation ...

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January Indulgence! Warm Yourself up with Beef Short Ribs with Ale and Honey

This hearty dish won’t leave you hungry, but skimming the fat off frequently will keep it within calorie limits. Serves 8 Ingredients 2 tablespoons vegetable oil 5 pounds beef short ribs, trimmed Salt and freshly ground black pepper 1 large onion, finely chopped 6 cloves garlic, minced 3 tablespoons whole-grain mustard 1/3 cup Greek honey 12 […]

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Furloughed Nov. 17 Terrorist Walks Away

ATHENS – Greek law enforcement officials were scrambling on Jan. 7 to find a Nov. 17 terrorist who was given a furlough despite serving six consecutive life terms and walked away without returning to jail. The embarrassment for  the government of Prime Minister Antonis Samaras, who campaigned on a law-and-order platform last year, came a […]

The post Furloughed Nov. 17 Terrorist Walks Away appeared first on The National Herald.


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Greece’s Epiphany of Protest

Seems like everything is fair game for protests these days in debt-crushed, austerity-laden Greece, even religious ceremonies. The traditional ceremony on Jan. 6 of the Epiphany say gay couples kissing before Bishop Seraphim of Piraeus to show their displeasure he opposes gay marriages, and on Rhodes a 60-year-old woman jumped into the water to demonstrate […]

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Greece Bars Protests For EU Presidency

ATHENS – The Greek government has issued an order prohibiting protests on Jan. 8 in the capital city to prevent any embarrassment or disruption of a ceremony in which the country will be handed the symbolic but essentially powerless six-month rotating European Union Presidency, an event expected to attract dozens of European officials. The order […]

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Protests off limits for Greek presidency kick-off

Greek authorities have imposed an 18-hour ban on protests across the center of Athens during events planned Wednesday to mark the inauguration of the nation's six-month presidency of the European Union. ...

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Greek far-left militant disappeared whilst on prison leave

Greek far-left militant disappeared whilst on prison leaveThe Voice of RussiaA far-left militant belonging to Greece's deadliest extremist group has disappeared whilst on prison leave, police said on Tuesday. Christodoulos Xiros, 56, was serving multiple life sentences for his role as a leading hitman for the November 17 group ...

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Greece: Police ban protests for inauguration of EU Presidency

Greek authorities have imposed an 18-hour ban on protests across the center of Athens during events planned Wednesday to mark the inauguration of the nation's six-month presidency of the European Union.

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Eurozone fund chief dashes Greek hopes for debt deal

KathimeriniEurozone fund chief dashes Greek hopes for debt dealEUobserver.comGreek foreign minister Evangelos Venizelos, who also served as finance minister when the bailout terms were negotiated, has warned that his coalition government may be toppled and replaced by anti-bailout parties if Greece does not get a debt deal this ...ESM Chief: No Greek Debt CutGreek ReporterESM chief rules out Greek debt restructuringKathimeriniFurther Greek debt writedown off the cardseNCAall 9 news articles »

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Houston's Top 5 Places for Greek Pastries

When someone mentions Greek sweets and baked goods, nine times out of ten your mind will go straight to baklava. And there's no shame in that! The sticky, sweet, nutty and flaky dessert puts a smile on everyone's face. But, there's more to Greek bakeries ...

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Greece Exports Bouzoukia to Australia

Greece is exporting a few of its traditional musical instruments to countries all over the world. Australia is a continent with many Greeks; therefore there is a considerable demand for Greek traditional instruments. The bouzouki is one of the ...

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European Investment Bank ends rumours of finance for new coal power plant in Greece

(Brussels, 7th January 2014) The European Investment Bank (EIB) will not provide support for the proposed Ptolemaida-5 lignite power plant project in Greece, despite claims made by the Public Power Corporation of Greece (PPC SA). WWF has been ...

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Chobani lovers complain about smaller yogurt cups

Chobani dominates Greek-style yogurt but has drawn complaints after following General Mills with a 100-calorie, 5.3-ounce product.

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Greek school to give Holocaust survivors their graduation certificates

Greek ReporterGreek school to give Holocaust survivors their graduation certificatesJewish Telegraphic AgencyAntonio Crescenzi, a teacher at Italian School in the Greek city of Thessaloniki, found a trove of old documents by accident about a decade ago. After sorting through them he realized their significance, he told the Israeli Maariv daily. He has ...Holocaust Survivors Receive Graduation CertificatesGreek Reporterall 7 news articles »

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XTERRA: 2nd Greek Triathlon Championship

XTERRA, one of the world’s premier triathlon Championships will be held in 2014 in Greece, for the second time. After the success of the event last year, it is scheduled to take place again on June 21, in and around Lake Plastira. The competition is expected to attract top professional and amateur athletes from over […]

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Greek police Fear Further Terrorist Attacks

Greek police are concerned about the potential for further attacks similar to that carried out against the German Ambassador’s residence last Monday. It is also reported that members of the Greek Special Anti Terrorist Unit (EKAM) will be placed on rooftops and other locations close to potential targets. There is concern in the government at […]

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ESM Chief: No Greek Debt Cut

While Greek Prime Minister Antonis Samaras said Greece’s battered economy will begin to recover this year – and with even a possible return to the markets – the government’s hope for reducing its debt by not paying back in full the $325 billion it owes international lenders has been dashed again. The head of the […]

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November 17 Member Escapes Custody

Christodoulos Xeros, convicted member of the terrorist organization November 17, has absconded after been granted leave to visit his family. His brother, Savvas Xeros, who was also a member of the organization is in hospital in Larissa, Greece. The Hellenic Police and Anti-Terrorist Unit raised the alarm when Christodoulos, who had received 9 days leave […]

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Germany Probes Greek Arms Sales

The growing scandal in the Greek defense ministry, with witnesses alleging widespread corruption and bribery involving foreign arms contracts, has led German investigators to look into deals involving the Krauss-Maffei Wegmann (KMW), identified in testimony before Greek magistrates as paying bribes to at least one Greek official for the sale of 170 Leopard 2 tanks […]

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Selene: Greece’s Best Restaurant

A Greek restaurant with a breathtaking view and exquisite dishes entered the list of 101 best restaurants in the world. Selene Restaurant that can be found in Pyrgos, Santorini earned a place on New York’s 101 Best Restaurants in the World list for this year, as published by the website thedailymeal.com. Furthermore, the restaurant managed […]

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Thessaloniki: Three People Dead in Apartment Fire

Three people died on Tuesday, in a fire that broke out in an apartment in the suburb of Kordelio in the northern Greek city Thessaloniki. An elderly couple lived in the small 50 sqm apartment along with their three grandchildren. According to initial reports by the Greek fire department the fire was caused by the […]

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Holocaust Survivors Receive Graduation Certificates

According to the Jewish Telegraphic Agency (JTA), 157 graduation certificates were found in a school in Greece. The students who were to receive them had either fled the country during the Holocaust or been sent to Nazi concentration camps. The teacher who made the discovery decided to find the survivors or their remaining family members, […]

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Apartment blaze in northern Greek city kills 3 family members, badly injures 2

THESSALONIKI, Greece - Authorities in Thessaloniki say an apartment fire apparently intentionally set by an elderly man killed him, his wife and two-year-old grandchild, and badly injured two more family members.

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European rescue fund chief rules out more Greek debt writedown

The head of the euro zone aid programme for crisis-hit members has ruled out a further debt writedown for Greece in an interview with a German online news magazine. "There will not be a debt haircut," Klaus Regling, head of the European Stability Mechanism ...

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Family of Missing Greece Man Calls his Discovery "Divine Intervention"

Family of Missing Greece Man Calls his Discovery "Divine Intervention"WXXI NewsSimmons' family, who reported him missing on New Year's Day, spotted him in a photograph that appeared in Sunday's edition of the Democrat and Chronicle. The picture showed someone identified as simply "Nick", a homeless man wrapped in a blanket ...

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Missing Greece man found in photo heading back home

Missing Greece man found in photo heading back homeSyracuse.comFamily friend Peter Gugino says 20-year-old Nicholas Simmons was discharged from a hospital Sunday night and spent the night in a Washington hotel with his father and older brother. Gugino says the three men are now heading home by car to Greece, N.Y..

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Former NBCU Int'l Prexy Peter Smith Appointed Topper of Greek Media ...

Hollywood ReporterFormer NBCU Int'l Prexy Peter Smith Appointed Topper of Greek Media ...VarietyFormer NBCU Int'l prexy Peter Smith has been appointed managing director of Antenna Group, the largest media company in Greece, in a clear sign that the privately owned outfit founded by Greek shipping magnate and billionaire Minos Kyriakou is stepping ...Former Cineflix Media Exec Peter Smith New Boss of Greek Broadcaster ...Hollywood ReporterProSiebenSat.1 sells Romanian radios, TV stations to Greek Antenna Group and ...Romania-Insider.comPete Smith, the former NBC Universal and Cineflix Studios boss, has been ...TBI VisionFinancial Timesall 8 news articles »

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Shipping issues and Greek presidency of the EU

Seatrade GlobalShipping issues and Greek presidency of the EUSeatrade GlobalThe Greek government's main aim once it officially assumes the rotating presidency of the European Union on 8 January is to reach a quick conclusion to talks with the country's troika of creditors. With pressure mounting, representatives of the troika ...Der Spiegel Lashes Out Against GreeceGreek ReporterGreek economy slowly improving, but major problems persistTulsa WorldIs Greece fit to take over the EU presidency?gulfnews.comHuffington Post -New Europe -The Sofia Globeall 21 news articles »

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