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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

Monday, April 20, 2015

Greek parliament voted abolishing high-security prisons bill on whole resolution

The draft bill abolishing high-security prisons was also voted on the whole resolution in the Greek Parliament was voted on Monday evening.  The new law will come into force when it will be published in the Official Gazette of ...


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EU Commission proposed a ten point action plan on migration

Greek EU Commissioner of Migration, Home Affairs and Citizenship Dimitris Avramopoulos presented a 10 point plan of the immediate actions to be taken in response to the crisis situation in the Mediterranean. The plan that ...


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Radical measures against illegal economy proposed at Tax Forum

Introducing a tax amnesty, exempting household investment up to an annual ceiling from the taxable income, and the protection and support of whistleblowers are among the measures that shadow economy expert Dr Friedrich Schneider proposed to help Greece combat the illegal economy and and tax evasion on Monday at the 11th Athens Tax Forum, organized by the American Hellenic Chamber of Commerce.


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Greece debt crisis: Ticking time bomb as looming deadline sparks Eurozone jitters

GREECE is racing to have reforms approved in order to unlock a €7.2billion bailout loan before it goes bankrupt and sends the Eurozone into ...


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FOREX-Dollar rises as Greece anxieties sting the euro

Euro down on worries that Greece could default on debts. * Dollar index adds 0.50 percent after losing week (Adds late prices, quotes, details).


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Government takes state bodies' cash reserves to meet needs

With pressure growing on state coffers as cash reserves run low without any immediate prospect for the release of rescue loans, the government on Monday signed a legal degree obliging state bodies, with the exception of pension funds, to transfer their reserves to the Bank of Greece for the state’s use.


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ECB: Cash support has its limits

Top European bankers warned on Monday of the risk that Greek banks may not be able to obtain further liquidity due to lack of collateral, piling more pressure on Athens to reach a compromise with its creditors.


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Mediterranean migrant boats – a humanitarian crisis in pictures

An Italian patrol ship arrived in Malta on Monday with 24 bodies recovered out of hundreds feared drowned after a migrant boat capsized in the Mediterranean. The death toll from Sunday’s shipwreck off the coast of Libya is one of the highest yet. Officials said there had been at least 700 people on board, some reportedly locked in the hold. Another boat carrying migrants ran aground off the Greek island of Rhodes, with authorites saying that at least three people had died Continue reading...


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Tsipras to seize public-sector funds to keep Greece afloat

Running out of options to keep his country afloat, Greek Prime Minister Alexis Tsipras ordered local governments to move their funds to the central bank.With negotiations over bailout aid deadlocked, Tsipras needs the cash for salaries, pensions and ...


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Varoufakis to Spanish journalist: 'Don't ask me what I think about Rajoy'

Greek Finance Minister Yanis Varoufakis gave an interview to the Spanish TV channel La Sexta. Varoufakis told Spanish journalist: "Ask me whatever you want, just surprise me. Just don't ask me what I think about Rajoy".  


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EU searches for response as more migrant emergencies reported

Rescuers responded Monday to two new migrant emergencies off Libya and a third boat ran aground near Greece following a weekend disaster that left hundreds feared dead, as top European officials searched for ways to stem the tide of illegal trafficking from Africa and the Middle East.


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GLOBAL MARKETS-Shares gain on China stimulus, Greece worries weigh on euro

Euro slips against dollar on Greece default worries. * Oil rises after report of strong U.S. inventory draw last week (Updates prices, changes byline, ...


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ECB's Constancio: default no reason to quit euro as Greece cash pinch worsens

Speaking as Greece ordered public sector entities to transfer idle reserves to the central bank to help with a cash squeeze, Vitor Constancio discussed ...


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EU unveils migrant action plan as more boats in distress

Luxembourg (AFP) - EU foreign affairs chief Federica Mogherini unveiled plans Monday to tackle a growing migrant crisis after telling member states they had "no more excuses" not to act as fresh distress calls rang out in the Mediterranean.A day after a fishing vessel crammed with migrants capsized off Libya with the loss of hundreds of lives, EU foreign and interior ministers met in Luxembourg to discuss ways to stem the flood of people trying to reach Europe.More than 700 migrants are feared dead in Sunday's disaster, with some survivors suggesting nearly 1,000 people could have been on board.As the search for victims continued, the International Organization for Migration said it had received a distress call from another boat -- but cautioned against concluding this was another disaster in the making.Italian Premier Matteo Renzi said separately that Italy's coast guard had asked merchant shipping to help two boats off the Libyan coast with up to 450 migrants on board after they sought help.Police in Greece meanwhile reported three people killed, including a child, after a boat coming from Turkey sank off the island of Rhodes.Dramatic YouTube footage showed people trying to reach survivors huddled on a piece of wreckage as they were being swept towards rocks.Ninety-three people were rescued alive, police said.Europe's southern shores have been swamped over the past two weeks with migrants fleeing war and hardship, mostly via conflict-wracked Libya. - EU to boost control, rescue mission - Unveiling a 10-point action plan, Mogherini said the 28-member bloc needed "to show that same collective European sense of urgency we have consistently shown in reacting in times of crisis."The EU had to live up to its humanitarian values and commitments towards migrants, she said, adding: "To send them back is another way of killing them."First on the list, ministers agreed the current EU border surveillance mission Triton should be increased to extend its range and capabilities on the bloc's southern flank.Triton replaced Italy's own Mare Nostrum mission which Rome scrapped late last year in protest that its EU partners would not share the burden.The EU will also try to capture or destroy people smuggler boats and increase cooperation across the board, the European Commission said.The bloc will offer too a "voluntary pilot project on resettlement, providing a number of places to persons in need of protection," a key but small step forward in spreading the problem.Up to now, countries relatively untouched by the problem had objected to this form of burden sharing, however small.Diplomats said there could be 5,000 places available but the Commission gave no figure. - Emergency EU summit - EU president Donald Tusk announced an emergency leaders summit for Thursday to discuss the plan, saying: "We cannot continue like this, we can't accept that hundreds of people die."Italy's Renzi, whose country bears the brunt of the problem, said Rome was studying the possibility of mounting "targeted interventions" against Libya-based people smugglers."Attacks on death rackets, attacks against slave traders (traffickers) are in our thinking," Renzi told a press conference with his Maltese counterpart Joseph Muscat.For his part, Muscat urged the EU to help solve the chaos in Libya where rival factions have fought for control since a 2011 uprising ousted longtime dictator Moammer Khadafi.The EU foreign ministers last month tasked Mogherini with drawing up plans to support a government of national unity in Libya if and when the factions could agree on one.She said ministers had on Monday discussed "all possible means of support... including through common defence and security measures" but with many member states opposed to any possible military involvement, an EU official said separately the focus of the talks had been on a civilian mission. - Search continues - Italian and Maltese navy boats meanwhile continued to search for the victims of Sunday's disaster, which brings to an estimated 1,600 the number of migrants who have drowned in the Mediterranean this year.Only 28 survivors have been found so far, along with 24 bodies, which were taken to Malta.One survivor told Italian authorities there were as many as 950 people on board and that some had been locked below deck by the smugglers.The tragedy caused an outcry across Europe, where newspapers declared it the "EU's darkest day" and called for urgent action.UNHCR head Zeid Ra'ad Al Hussein said the Mediterranean was turning into a "vast cemetery" and accused the EU of "turning its back on some of the most vulnerable migrants in the world."Some 11,000 migrants have been rescued since the middle of last week alone and current trends suggest last year's total of 170,000 landing in Italy is likely to be exceeded in 2015.The deadliest incident prior to Sunday occurred off Malta in September 2014, when an estimated 500 migrants drowned after traffickers deliberately rammed their boat in an attempt to force the passengers onto a smaller vessel.Join the conversation about this story »


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Struggling Greece orders state funds to be put in central bank

ATHENS, Greece – Greece's cash-strapped government has ordered reserves from state agencies to be placed in a basket account to help the ...


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Israel and Greek debt – Israel can aid Greece by helping preserve ancient Jewish history

The money will be important to staunching Greek debt, which is about €350b. (and climbing rapidly). Israel might consider lending them a hand, by ...


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Migrant ship washes up on Greek island in second tragedy hours after 900 died in Libya

More than 900 people – including 200 women and up to 50 children – are feared dead after the boat overturned in the Med in the one of the worst maritime disasters since World War Two.


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Greek Govt Collects Public Sector Money With Legislative Order to Meet Needs

The Greek government has issued a legislative order today ordering the country’s public sector operations to transfer excess funds to the Bank of Greece (BoG) in a dramatic attempt to cover its needs ahead of the upcoming International Monetary Fund (IMF) loan repayments in May. Athens has been tapping into the public money reserves in temporary transactions in what is seen by analysts as a sample of the country’s desperate need of fresh funds, amid the SYRIZA-led government’s attempt to convince international creditors to unlock further financial aid. Today’s legislative order excludes pension funds as well as the idle money of some state-owned firms, as their cash reserves are designated to cover the immediate payment of those bodies own needs. “This is a pre-emptive move to ensure that they will be able to secure as much liquidity as possible because of the squeeze,” an Athens-based analyst told Reuters, adding that “there are still some billions of euros in cash reserves parked in banks by state entities.” The public entities are called to bank the money they do not immediately need at the country’s central bank, while the money lent will be used within one to 15 days against collateral and then they will be paid back with interest at expiry. According to Greek Finance Ministry officials cited by Reuters, the country is in need of around two billion euros coming from its public sector remaining cash reserves in order to cover the civil service wages and pensions at the end of the month. Although that has been officially denied by the Finance Ministry. Apart from the above payments, the Greek government is facing yet another deadline as it has to repay an IMF installment of almost one billion euros due in May. The Greek government has repeatedly declared it will honor its obligations to international creditors but at the same time senior government officials have distinguished the wages’ and pensions’ timely payment as a priority.


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Greek Mayors to Protest Government Decision to Seize Their Cash

Running out of other options, Greek Prime Minister Alexis Tsipras ordered local governments and central government entities to move their cash ...


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Luxembourg's Gramegna: Eurozone Must Do Everything to Avoid Greek Default

He urged the government of Greek Prime Minister Alexis Tsipras to come up swiftly with proposals to fix Greece's finances and overhaul its economy, ...


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Unrelenting surge of migrants sees 93 survivors washed ashore in Greece as bodies in capsizing off Libya brought ashore

Source: news.nationalpost.com - Monday, April 20, 2015The European Union proposed doubling the size of its Mediterranean search and rescue operations on Monday as an unrelenting tide of migrants washed 93 ashore like flotsam on the Greek island of Rhodes and the first bodies were placed in hearses of some 900 feared drowned in a capsizing off Libya now described as a massacre. Malta’s Prime Minister Joseph Muscat said as many as 900 people may have died in Sunday’s disaster off the coast of Libya when a large boat capsized. Carlotta Sami, a spokeswoman for the U.N. refugee agency, was quoted by Agence France-Presse as saying the disaster could turn out to be “the worst massacre ever seen in the Mediterranean.” EU ministers held a moment of silence at a meeting to discuss the crisis in Luxembourg. The bloc’s executive, the European Commission, presented a 10 point plan to address the crisis, which would include doubling the size and the funding of Triton, an EU naval operation in the Mediterranean. But even that would still leave the operation smaller and less well-funded than an Italian mission abandoned last year because of its cost and because of domestic opposition to sea rescues that could attract more migrants. Lino Azzopardi / AP Photo The few survivors of the smuggler's boat that overturned off the coasts of Libya lie on the deck of the Italian Coast Guard ship Bruno Gregoretti, in Valletta's Grand Harbour, Monday, April 20 2015. So far rescuers saved 28 people and recovered All Related


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Greek reforms list: No agreement before May

The International monetary Fund (IMF) spring meeting in Washington (on April 18) has spread a clear message, telling Greece to hurry up with a reform list to prevent any default payment or a possible exit from the Eurozone. Alexis Tsipras’ government was due to submit a reform list to its EU partners with the deadline […]


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Greek Cypriots 'satisfied' with first round of elections in Cyprus

“The leader of the Turkish Cypriots can shape up the political behaviour [about the future of the island] either with the Greek Cypriots or with Turkey,” ...


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Draghi Says ECB Stimulus Prepared Ground for Euro-Area Pickup

“We are convinced in the ECB that there will be no Greek exit,” Constancio said at the European parliament in Brussels on Monday. “The Treaty does ...


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Three-year yields hit highest since 2012 Greek debt restructuring

Greek bonds declined on Monday, pushing three-year yields to the highest since the nation’s debt restructuring in 2012, after the government issued a decree to force municipalities to transfer cash to the central bank.


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Gazprom head in Athens to talk pipeline stretch

The boss of Russian energy giant Gazprom will meet Greece’s prime minister in Athens on Tuesday, after reports that the two parties are set to sign a pipeline deal in which Russia would make billions in an advance payment to cash-strapped Greece.


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Police probe online footage that appears to show forced detention

Greek police launched an investigation on Monday into footage that was posted online showing a young man being forcibly detained by Delta officers in the neighborhood of Exarchia, central Athens.


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Skouries mine employee's car found burnt after ‘threats’

The vehicle of an employee working at the Skouries gold mine in Halkidiki, northern Greece, was completely destroyed in an arson attack in the area of Nea Roda on Monday.


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Legislative act sees bourse gains vanish

The government’s decision to introduce a legislative act forcing state entities to submit their cash reserves to the Bank of Greece canceled out all gains that stocks had notched up in the week’s opening session at Athinon Avenue, while banks shook off the threat by eurozone central bankers that the Greek credit system may soon be short of collateral for drawing liquidity.


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Nia Vardalos on Why It's Finally the Right Time to Make 'My Big Fat Greek Wedding 2'

Nia Vardalos became a household name with the 2002 indie comedy My Big Fat Greek Wedding, which broke records and even scored an Academy ...


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Greek public hospital doctors to stage walkout on Friday

Greek public hospital doctors are expected to hold a work stoppage from 11 a.m. to 3 p.m. on Friday, their union announced on Monday.


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Sinking survivors cling to debris

SHOCKING footage shows migrants clinging to floating debris after a boat ran aground off the Greek island of Rhodes, in yet another disaster at sea.


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U.S. challenges Greece over move that softens guerrilla's jail terms

The U.S. ambassador to Greece protested on Monday against a government-backed bill that paves the way for a member of Greece's most lethal guerrilla group to be released from jail. Hours before parliament formally approved the changes, aimed at reducing overcrowding and improving conditions at Greek prisons, U.S. Ambassador to Greece David Pearce said the law would dishonour the memory of Greek, U.S. and British diplomats killed in guerrilla attacks. The new law allows severely disabled inmates - which include Savvas Xiros, serving multiple life terms for his role in the defunct guerrilla group November 17 - to be placed under house arrest. The legislation was put forward by the newly-elected government of Prime Minister Alexis Tsipras, who has challenged Athens' official European and International Monetary Fund lenders to ease the terms of the nation's bailout.


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Greece orders Public Sector & Municipalities to transfer cash to BoG with emergency decree

Struggling for cash Greece could not avoid to put its hands into state reserves and with an emergency decree it orders public institutions and municipalities to transfer their capital assets to the Bank of Greece. According to a legislation act signed by the President of the Greek Republic and without […]


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Raw: Migrant boat crashes on Greece shore

The Greek Coast Guard says a total of 93 people were rescued from the migrant boat, but a man, a woman and a child had died. (April 20)         


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Child among migrants drowned off Greece in new tragedy

At least three people, including a child, died when a boat carrying more than 90 migrants sank off the Greek island of Rhodes on Monday, police said.


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Amid more migrant emergencies, EU searches for response

MILAN (AP) — Rescuers responded Monday to two new migrant emergencies off Libya and a third boat ran aground near Greece following a weekend disaster that left hundreds feared dead, as top European officials searched for ways to stem the tide of illegal trafficking from Africa and the Middle East.


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Greece Will Stay in Eurozone, Says ECB's Constancio

The ECB vice president said he is convinced that Greece will remain in the eurozone, as he attempted to douse concerns that the troubled country would leave the currency bloc.


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Close to power, Finnish populists tone down anti-Athens policies

HELSINKI (Reuters) - Finland's eurosceptic Finns Party has the best chance of power in its 20-year history after coming second in Sunday's election, but its calls to throw Greece out of the euro zone may take a back seat to fixing the economy at home.


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US ambassador to Greece protests prospect of home confinement for blind far-left terrorist

The U.S. ambassador to Greece is protesting new legislation that will let a far-left terrorist convicted of murdering Americans serve the remainder of his five life sentences under home confinement.


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This brilliant sci-fi film is one of the best movies you'll see all year

So many science fiction films have tried, and some have succeeded, in creating a unique dystopian vision of the future. Where "Ex Machina" stands out from the rest, however, is in the way that it portrays a future that sometimes seems hellish, but only sometimes feels like a nightmare. One of the main reasons “Ex Machina” is unique from all futuristic sci-fi films is because it takes place not in a crowded dystopian city, nor a space station, but rather somewhere deep in the wilderness (in reality, the film was shot at a hotel in Norway's Valldal valley). Caleb (Domhnall Gleeson) stars as a skilled computer coder who wins a chance to spend a week with Nathan (Oscar Isaac), the reclusive CEO of the company Caleb works for. What Caleb doesn’t know is that he’s about to be part of Nathan's pioneering experiment in the future of artificial intelligence. While most filmmakers would have settled for a long period of exposition early on, Caleb is selected by Nathan and then immediately flown to his estate without much explanation. Story sometimes doesn’t even matter much here, so this film works best if you know as little about the plot as possible. Writer-director Alex Garland is less interested in spoon-feeding the audience information and more interested in exploring the relationship between humans and machines.  The problem with films about robots is that they sometimes get, well, robotic, and leave emotions at the door. “Ex Machina” focuses on its human characters as much as its central robot Ava (Alicia Vikander), who seems to have more of a conscious than the actual people that surround her.  Unlike other onscreen robots, Ava may have a lot to learn, but she is both intelligent and curious from the start. That is partially what makes her so compelling to watch: she seems to have a lot of knowledge, but no idea how to apply it when trying to act like a human.  At the film's start, Nathan tells Caleb to conduct a Turing test on Ava to see how much her mind resembles that of a human. As an audience member, you'll forget at times you're watching a machine. If you're into two-fold psychological mind games, then "Ex Machina" is for you. As the mad, yet brilliant Nathan, Oscar Isaac proves why he’s one of the most sought-after actors in Hollywood today. Living in an isolated mansion filled with expensive toys, artifacts, and people who will always bend to his will, Isaac plays Nathan like Bruce Wayne meets Colonel Kurtz, with a dash of Steve Jobs. (by that i mean) He's a well-read, paranoid man with a lot of money who thinks he is saving the world.  While Nathan may be reclusive, he is far from introverted. Isaac and Gleeson share a consistently entertaining back-and-forth throughout the film. For most of the film, watching the two of them is like watching two friends have a discussion over a couple of beers. Luckily, we can all look forward to Isaac and Gleeson together again later this year in a high profile sci-fi film that you might have heard of: “Star Wars: Episode VII - The Force Awakens.” “Ex Machina” mixes philosophical questions with scientific intrigue. This is the kind of film where knowledge of the Bible and Greek tragedies aren't necessary, but are definitely an added bonus. This is a philosophy lesson that is filled with absurdity, like a hilarious disco scene that comes out of nowhere. The film feels like a sequel to Spike Jonze’s Oscar-winning “Her,” which is about a man who falls in love with his human-like operating system, and a huge step forward in science-fiction for Hollywood. Rather, “Ex Machina” accurately portrays a robot that is created by us for us. Ava is somebody who could be our friend and blend in with the rest of human society. This is what makes “Ex Machina” so interesting. This is a world where the humans, and not the robots with limitless capabilities, are the villains. It is an idea that “Chappie” tried (and somewhat failed) to communicate earlier this year. Garland said that he wanted this film to feel like it could take place 10 minutes from now. This whole film feels like an idea Tim Cook might briefly mention during the next iPhone press conference. This is thanks in part to Garland, who, despite never having directed a feature film before, might as well be a seasoned veteran at this point. Switching between glowing red and blue, stunning mountain vistas and claustrophobic white hallways, this is the sort of plunge into madness that would make the likes of Stanley Kubrick proud.  Anybody who is a fan of "A Clockwork Orange" and "The Shining" will feel right at home with Garland's sense of paranoia and claustrophobia. There are a lot of scenes here that feel like they were put in here just for cinephiles. But just like the philosophy, you don't need to have seen every dystopian film to enjoy this one. The world of “Ex Machina” is both minimalist and incredibly detailed and well-thought out. “Ex Machina” works well on its own, but I almost wouldn’t mind seeing a sequel for it. There just seems to be infinite possibilities for where Ava can go from here.  The future that is presented in "Ex Machina" can sometimes be a frightening place, but it is also overstuffed with ideas and possibilities. Garland has gone on the record as believing that it is a "good thing" that robots might surpass humans. This explains why he is able to strike a rare balance of being cynical about the selfish nature of people, yet still optimistic about where this planet is heading. If the creation of Ava is a distinct possibility, then I, for one, welcome our new robot overlords. Watch the trailer for "Ex Machina" here:  SEE ALSO: Here's the concept art that inspired the robot from the year's best sci-fi movie Join the conversation about this story »


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FOREX-Dollar rises as euro slips on Greece anxieties

Concerns over Greece weigh. * Dollar index adds 0.40 percent after losing week (Adds U.S. trading, latest prices and changes byline and dateline; ...


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National Bank Of Greece (ADR) (NBG): Will Grexit Trigger A Domino Effect In The Eurozone?

National Bank of Greece (ADR) (NYSE:NBG) stock has hit another low as it is presently down in pre-market trading today by 4.20% at 6:57 AM EDT.


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US Ambassador Pierce Speaks Out Against Terrorist Xiros’ Release

U.S. Ambassador to the Hellenic Republic David D. Pearce held a press conference today in Athens to raise concerns against a bill that was brought for vote to the Greek Parliament. The legislation may allow for the release of convicted terrorist and former ’17 November’ member Savvas Xiros. Below is the ambassador’s full statement: Embassy of the United States of America Athens, Greece, April 20, 2015 I am standing in front of the U.S. Embassy’s memorial plaque to U.S. Mission employees who gave their lives serving the government of the United States of America here in Greece. Richard Welch, Captain George Tsantes, Nikolaos Veloutsos, Captain William Nordeen, and Sergeant Ronald Stewart were murdered by November 17 terrorists. Today, I express my deep concern that the legislation, coming to a final vote in the Greek parliament this evening, could lead to the early release from prison of these terrorists and other criminals convicted of serious crimes against Greeks, Americans, and people of other nationalities. Until now, the reaction of the U.S. government has been confined to official contacts, in the hope that there would be a positive response to some of the concerns we have raised privately about certain aspects of this legislation. I will maintain that hope. I raised our concerns directly with the Minister of Justice on April 2. I noted among other points that if Savvas Xiros were let out of prison before having served his sentence as handed down by the Greek justice system, it would be a disservice to the memory of the American mission members he killed, and their families. We would not understand it. Secretary Kerry registered our concerns directly as well in a call with the Prime Minister last week. I want to be clear. The issue is not prison reform, or alleviating overcrowding, or providing access to medical care, or improving humanitarian conditions. All of which are important. The issue is that convicted terrorists and murderers—people who have committed terrible, heinous crimes—should serve their full sentences in prison. Not in the comfort of their homes, surrounded by their friends, families, and associates. Releasing these murderers from prison dishonors the memory of those they have killed, and violates the rights of the family members whose lives they have shattered. I repeat my bottom line, convicted terrorists and other criminals convicted of serious crimes should complete their sentences as handed down by the Greek justice system. If Savvas Xiros–or anyone else with the blood of American diplomats and U.S. Mission members on their hands—leaves prison, it will be seen as a profoundly unfriendly act. There is no place for convicted terrorists in civilized political discourse or back in Greek society. These are violent criminals and they belong in prison, nowhere else. Greece is an important force for stability in the region, and has been a good partner for the United States on a number of issues, including law enforcement and counterterrorism. We believe this legislation is inconsistent with that partnership. This is not just a humanitarian issue, it is also an important security issue.


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Death of the (4th) Estate

Anyone reading coverage of last week’s Greek independence celebration at the White House cannot be faulted for thinking Greece is anything but a country on the brink. Breathless Twitter pics of cool kid John Stamos and celebrity FinMin Varoufakis mingling in the East Room graced even the pages of the Washington Post.  Varoufakis had no official agenda, but President Obama broke the protocol to share an informal chat with the FinMin who, in predictably Varoufakis form, immediately briefed reporters on their very public conversation. The media covered the details but failed to bridge their exchange with more meaningful coverage on the state of Greece at the IMF and World Bank spring meetings or Varoufakis’ Brookings Institution address held concurrently in Washington last week. It appears as if Greeks have been assigned to the kid’s table, sharing selfies while the adults determine if dessert will be served. Original, investigative reporting has been reduced to a smaller and smaller universe of news outlets, largely the agenda-setting media. This is a universal reality because news organizations are corporations seeking shareholder profit. Competing for readership in the digital age, with its veneer of celebrity, was on acute display last week in regards to Greek coverage. Perhaps not scandalous but certainly concerning, indicative of an ambient scandal made more insidious because it isn’t obvious. Readers searching for insightful news must increasingly rely on a Cambrian explosion of alternative media, think tanks and opinion editorials. Without nontraditional coverage, those living outside Greece get only part of the story. Understanding the rising concerns among international leadership that populist policies emanating from Athens – whether expanding social programs and pension reforms or promising to abolish property taxes and release convicted terrorists – contradict repeated public assurances and carefully scripted Orwellian language of “intention” as opposed to “will” regarding repayments or progress on structural reforms. Making sense of countervailing reports and data, knowing which media is left or right leaning, reading into the scripted lines and sound bites reported – whether from Athens, Brussels or Washington – is all too often like putting together a puzzle with entirely too many pieces. Equally disturbing is the news that is not widely reported. Like the very private meeting Mr. Varoufakis had with Lee C. Buchheit in Washington on Friday. Mr. Buchheit is among the most sought after international debt lawyers who over the past three decades has represented governments unable to pay their debts. He was behind Greece’s €200 billion debt restructuring in 2012. If indeed his services are being retained again to negotiate another haircut, he has his work cut out for him. Although he has orchestrated public sector debt restructuring, Mr. Buchheit is better known for forcing private sector bondholders’ losses. This time around patience is running thin, as European creditors and the IMF have made it clear that they will not accept a delay in payments or simple debt forgiveness. On Friday there was another ominous sign that Greece’s woes are closing in on the country. The Dow closed down 279 points and it appears that one-day dive was driven in part by Greece’s never-ending financial quagmire.  As I post this piece at the opening of Monday’s NYSE, trading is rebounding from Friday’s sell-off but Greece’s split-screen optics of saying one thing while doing another continue to unsettle markets. With the clock ticking and Greece fast running out of cash, perhaps the real story will be more original than anyone is currently reporting.


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Brussels Group Meeting in Paris Continues on Monday and Tuesday

The Brussels Group meeting in Paris, which was held during the weekend, continues on Monday and Tuesday, European Commission spokesperson Margaritis Schinas said on Monday. Schinas said that discussions continue both on political and technical level and noted that the pace has accelerated during the last few days. According to Schinas, talks advance ahead of the April 24 Eurogroup in Riga, Latvia, during which Eurozone Finance Ministers will have the opportunity to assess the Greek situation. He noted that the European Commission continues working intensively on all levels in order to facilitate the reaching of an agreement. Asked why the Brussels Group meets in Paris, Schinas said this was due to purely practical reasons. (source: ana-mpa)


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At least 3 dead after migrant boat runs aground off Rhodes

Source: mashable.com - Monday, April 20, 2015 A boat carrying migrants has run aground off the Greek island of Rhodes and at least three people have drowned, Reuters reports . See also: EU holds urgent talks after 700 killed in migrant boat sinking A coast guard official said that a search-and-rescue operation has recovered three bodies, that of a man, a woman and a child. However, the number of deaths is thought to be higher. BREAKING: Agency: Caller reports 20 dead on sinking smugglers' boat packed with 300 migrants. — The Associated Press (@AP) April 20, 2015 Around 80 people have been rescued with 23 taken to hospital, according to another Greek coast guard official quoted by Reuters . Read more... More about Rhodes , Us World , and MigrantAll Related


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Greece asks public agencies for cash

The Greek government asks public sector bodies to hand over any reserve cash to help it meet a payment due to the International Monetary Fund.


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Treasury market buffeted by Chinese stimulus, Greek worries

The Treasury market “has been trading with the [Greek debt crisis] in the background for over a year…It is a week-to-week conversation that the ...


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ECB eyeing Greek use of 'IOUs': source

Although the Greek government has said repeatedly that it wants to honor its debts, ECB officials are considering the possibility that it might not, ...


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