17th November Celebration in Greece
Every year, on the 17th of November, Greeks but especially Greek students memorialize the students’ revolt against the colonels’ junta. Students prepare school celebrations, and a big march starts at the Athens Technical University and ends in the American Embassy, ...
TEENAGE RIOT: ATHENS - Documentary Video!
An extremely interesting documentary from VICE network about the recent riots last month in Athens: On the eve of the biggest Greek strike since the right-wing junta was overthrown almost three decades ago, VICE travels to Athens to meet up with the people ...
We Are All Greeks - Protests of solidarity all around the world!
Solidarity protests for Greece are organized in many European countries for this Saturday! People will protest against economic crisis and its effects on the Greek society. As noted in an online call to the international audience, the austerity measures that the ...
DEBTOCRACY - a documentary produced by the audience
“Debtocracy” is a documentary that seeks the causes of the Greek crisis and proposes solutions, hidden by the government and the dominant media. Watch it below with English subtitles: [youtube 1_yTriIJa9I] Debtocracy website: http://www.debtocracy.gr/indexen.html
I, too, am Greek ! Solidarity with the Greek people !
Thousands of ordinary European citizens have joined their voices to the "Movement of Nantes." demanding double nationality! People all across Europe who want to express their support to Greece during this difficult period of crisis, started the "Movement of Nantes" and ...
CATASTROIKA: Privatization goes public (Video - A must see...)
On April 26, 2012 at 20:00 let’s turn off the TV and turn to an alternative source of information. The creators of Debtocracy, a documentary viewed by millions of people around the world, present their new production, entitled CATASTROIKA. They analyze the ...
The Shock Doctrine - Documentary (A Must See...)
An important documentary based on Naomi Klein’s 2007 book, The Shock Doctrine. A study of disaster capitalism, based on Naomi Klein’s proposition that neo-liberal capitalism feeds on disasters, war and terror in order to establish its dominance. Today Greek society seems ...Nobel Prize Winners in Support for Greece
Reproduced by Lecturer Site, and originally reported by Harald Zur Hausen, in Science, 25 May, pp. 978-979, [DOI:10.1126/science.336.6084.978], 2012.
The Greek Society and its institutions are going through very difficult times, emanating from several years of severe economic crisis. The gross national product of Greece decreased by almost 7% last year alone, and the unemployment rate exceeded 20%….
Greek Ombudsman suggests the Greek State has to take measures in order to counterbalance its inability to meet its financial obligations to its citizens
The truth is that the Greek State is indeed one of the most unreliable borrowers... Even (or better: especially) when it comes to obligations to its own citizens.
The above stament transcended from being a widely spread impression to an official finding by the Greek Ombudsman. The aforementioned Independent Authority recognized the inability of the administration to meet its financial obligations towards its citizens in a letter sent to two Ministers (Finances and Interior), submitting a set of recommendations in taking measures towards safeguarding the rights of individuals against the State.
The letter dates back to December 2011, but the press release came out just two weeks ago (6/3/2012).
In the Press Release the Greek Ombudsman suggests...
Nigel Farage On Crucifying Greece
Schocking statements were made in Strasbourg yesterday, 13 March 2012 by the English Member of the European Parliament Nigel Farage.
“This is how Greece is going to be crucified”, stated the British MEP Nigel Farage, condemning the new inhumane austerity measures taken by the second Memorandum signed by the Greek Government.
Bundestag approved the 2nd Help Package for Greece with a vast majority
496 voted 'Yes', 90 'No' and 5 abstained from voting out of 591 present MP's (Bundestag consists of a total of 622 MP's)
Earlier, Chancellor Merkel addressing the Parliament called for the approval of the second support package for Greece, highlighting that the road is long and risky....
Chief of Austrian Chamber of Industry and Commerce, Christoph Leitl triggers a fight with Greece
Ambassador Dimidis is "deeply upset" for the proposal of the WKO President that Greece might consider selling Islands to Turkey.
The next rescue package for Greece has been put together, but so far peace has not come to the debt-plagued country. There is little joy for the Greek since the proposal by Chief of Austrian Chamber of Industry and Commerce Christoph Leitl. Leitl had suggested that Athens might for reasons of budget consolidation even sell islands - in the neighboring country of Turkey." Turkey would be very much interested, according to Leitl, in acquiring uninhabited, remote islands.
Former Greek Minister of Finances Giorgos Papakonstantinou Interviewed by “Zeit”: “We’re reaching our limits”
The former finance minister of Greece has negotiated many aid packages for the country. He believes in his country and the fact that it will soon get better.
DIE ZEIT: Mr. Papakonstantinou, the EU released on Monday the next aid package for Athens. Greece is now saved?
Giorgos Papakonstantinou: The decision enables a fresh start. It secures our funding and signals to the people that at some point in the future things are going to get better.
TIME: At the moment the Crisis is still accelerating.
Help to Greece Splits the German Government
In the worst possible time, a new government dispute comes: Prior to the vote for Greece Minister of Internal Affairs Friedrich talks about Athens' farewell to the euro. The opposition frothed while Merkel puts her foot down.
Up until today, two statements of the German Euro Policy seemed to be carved in stone: 1) Greece remains in Euro-Zone no matter what and 2) The Euro-Zone protection Firewall will not be further increased.
However, both certitudes seem abruptly not so sure - and that only hours before the Parliamentary decision on the second rescue package to Greece.
Mike Hudson Interviewed by Paul Jay: The Greek Experiment and The Financial War (VIDEO)
Mike Hudson, President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971), gave an enlightening interview to Paul Jay from RealNews.com talking about what's happening now in Greece from a financial but nevertheless pretty understandable point of view.
Click on "Continue Reading" to watch the video.
German Minister of Internal Affairs Advises Greece to Exit the Euro-Zone
For the first time a member of the German Government advises Greece to leave the euro zone. It's been highlighted that this should not be misinterpreted as an eviction.
German Minister of Internal Affairs Hans-Peter Friedrich (Christian Social Union), in light of the threat of bankruptcy, has advised Greece to exit the Eurozone.
Outside the monetary union, [...]
Deputy PM Theodore Pangalos: “I am in favour of losing one’s sovereignty”
Being interviewed by French radio station Europe 1, the Greek Deputy PM said he understands the reaction of the Greeks, however, he has always been a European federalist...
Fitch Downgraded Greece’s Long-Term Credit Rating
Fitch Ratings downgraded Greece's short-term foreign currency rating, on Wednesday, at C previous rating was CCC. This three level decline basically puts Greece on a pre-default level.
Fitch's move essentially means that.....
Anonymous uploaded a new video in YouTube warning the Greek Media: Expect Us!
Anonymous uploaded a new video in YouTube, warning the Greek Media for upcoming attacks (video is in greek language with english subtitles).
This message records the "action" of the Mass Media of Taming (according to the wording Anonymous used). It is highlighted, that in the events of the 12th of February, the media tried to influence the consience of the viewers.
Their message in detail is as follows:
"Media of Mass Deception, Greetings. We are Anonymous.
Latvia’s Central Bank Chief Ilmars Rimsevics: “It’s really hard for Greece to avoid bankruptcy”
Procrastination in taking painful but necessary measures has reduced dramatically the chances of Greece to avoid failure, assesses the President of the Latvia Central Bank President Ilmars Rimsevics.
In an interview in Frankfurter Allgemeine Zeitung, the central banker of Latvia, which went bankrupt in 2007, notes that his country followed the diffucult path of internal devaluation, which included - among others - wage cuts.
"Those who say that without devaluation, adjustment is not possible, are those who don't want it to be achieved. People that don't want to take action always find a reason: the influence of the labour unions, the very small size of the country, the past - an excuse is always there to be found. The truth is that it IS possible", he argues.
Ilmars Rimsevics also highlights that in such a process speed is of the highest importance. "It would be better if all the major painful cuts could be applied within a year."
“Greece will go Bankrupt until the End of March” provides Paulson & Co.
"Greece will go bankrupt until the end of March, leading to the collapse of the Eurozone", states Paulson & Co., hedge fund of american billionaire John Paulson.
In a letter sent this month to his clients, the hedge fund estimates that Greece will possibly need 90 billion euros to cover financial demands that will arise from the long-awaited deal for the PSI (Private Sector Involvement) in the effort to contain the greek debt, the recapitalization of banks and other financial needs.
According to fund executives, a possible bankruptcy of Greece can cause a bigger shock in the system than the collapse of the Lehman Brothers.
IMF is trying to bail out
Second thoughts about IMF's level of participation to the new austerity package.
IMF examines the option of contributing "only 13 billion €" to the new austerity help plan to Greece, reports the Wall Street Journal.
"IMF's level of participation has not yet been finalized" but the international financial institution is examining this option according to WSJ's sources.
IMF agreed in May 2010 to provide a loan of 30 million euros to Greece, contributing to a plan of 1100 billion euro.
Not only this was not enought for the greek economy to recover; now it's going through deep recession, which has actually increased public debt, notes the AFP.
According to WSJ, executives of the IMF express fears that IMF has been 'overly' exposed to the debt zone in the EU.
Louka Katseli: Documents of the European Central Bank disprove exit from Eurozone
Two documents from the ECB have been filed in the greek parliament by MP Louka Katseli, that indicate there’s no legal substance in the scenario of a Member State being expulsed from the EU.
In the second document the MP goes into a comprehensive analysis, predicting that the Memorandum 2.0, will create a recession of approximately 7%, although it is presented to the Greek people as a solution for growth (instead of an actual recession trap). It should be noted that in the previous relevant analysis of Louka Katseli for the first Memorandum , she predicted a 5% recession for 2012. Her predictions were vindicated –not by the Ministry of Finance (Filippos Sachinides, the deputy minister of Finance actually accused of not knowing what she’s talking about) but– by Troika’s similar predictions for a recession of about 4-5%.
Katseli supports that Greece is able to pay salaries and pensions due to surplus. All that needs to be done is to negotiate a PSI that won’t have the terms for cutbacks included in the Memorandum. This, according to her opinion, is doable if Greece decide to enter a negotiation mindset. EU cannot expulse Greece from the euro, but it will have to suffer all the necessary consequences from Greece’s abidance. EU will therefore be forced to ultimately choose a different kind of PSI, one that won’t drive Greece straight to recesion
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