Greece

Greece Agrees With EIB on 750 Million-Euro Loan Package

Greece Agrees With EIB on 750 Million-Euro Loan Package

Bloomberg, Business Week,

13 September 2012

Greece and the European Investment Bank agreed on the immediate disbursement of 750 million euros ($968 million) in loans to small and medium-sized enterprises and for transport, energy and education projects.

The businesses, known as SMEs, will absorb about 440 million euros of the loans, according to a statement from the Athens-based Finance Ministry today.

The deal “brings real money into the economy at a time when the lack of liquidity is causing problems that are suffocating the market,” Finance Minister Yannis Stournaras said in the statement.

Greece and the EIB, the European Union’s finance arm, said July 21 that the lender would disburse 1.44 billion euros in loans to Greek SMEs by the end of 2015 via the country’s banks.

Is the U.S. election keeping Greece in the euro?

Is the U.S. election keeping Greece in the euro?

Yanis Varoufakis, CNN News,

12 September 2012

Athens, Greece (CNN) --

My first memory of anything to do with a U.S. presidential election lurks in the mists of my Athenian childhood.

It was a warm June evening. My mother had taken me for a walk around the ancient stadium where the first modern-era Olympics were staged in 1896.

Eurozone demands six-day week for Greece

Eurozone demands six-day week for Greece

Government in Athens under pressure to introduce a six-day working week as part of the terms for a second bailout

Ian Traynor, The Guardian, 4 September 2012

Greece's eurozone creditors are demanding that the government in Athens introduce a six-day working week as part of the stiff terms for the country's second bailout.

Albanian extremist groups cause reaction in Greece

Albanian extremist groups cause reaction in Greece


Sep 2, 2012

Ioannnis Michaletos

Since 2010 and the beginning of the Greek debt crisis which has resulted in an outright economic depression in the country, the Greek security services have investigated around the potential of extremist groups, in this particular case, Albanian ones; taking advantage of the situation for either criminal or nationalistic purposes. The research has provided data of increased importation of armaments into the country, as well as, the formation of close-knit potential extremist groups within the Greek territory that are for the moment in communication with other cells in Albania and elsewhere.

Greek premier stumps in Paris for lenient austerity targets

Greek premier stumps in Paris for lenient austerity targets

Deutsche Welle

25 August 2012

The prime minister of Greece has embarked on the second leg of his eurozone charm offensive, holding talks with the French president in Paris. Athens is pushing for more flexible austerity targets.

Fire on eastern Greek island of Chios ravages unique export industry in crisis-struck country

Fire on eastern Greek island of Chios ravages unique export industry in crisis-struck country

Washington Post

24 August 2012

CHIOS, Greece — In response to Greece’s financial crisis, villagers on the eastern island of Chios carried on with what their ancestors had been profitably doing for centuries: patiently carving lines on mastic trees.

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