Tag: Greece

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“Hidden Gems of Greece”, by Kristine Di Grigoli Page

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photo by ArtChick Photography https://artchickphotography.com/

the staff of the Ridgewood blog

Ridgewood NJ, our friend  Kristine Di Grigoli Paige has just rolled out here first book , featuring a captivating collection of images from my recent trip to Greece!  This collection of images represents the transformative journey that reignited my passion for photography. I had been struggling with a lack of inspiration and disconnection from my artistic pursuits. However, the moment I grasped my Nikon Zfc, a mirror-less camera resembling the old 35mm, and began capturing images, a surge of excitement and happiness rushed through me. The camera’s mechanical clicks and whirs served as a reminder of the enchantment found in traditional photography. Suddenly, I transitioned from viewing the world through tinted red glasses, enhancing depth and detail, to peering through the viewfinder and perceiving it in black and white. This captivating process filled me with immense enthusiasm. Gradually, I regained access to my artistic mindset, and a profound sense of joy blossomed within me once more.

Continue reading “Hidden Gems of Greece”, by Kristine Di Grigoli Page

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A warning for NJ? In Greece, they are now rationing pensions.

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A warning for NJ? In Greece, they are now rationing pensions.

Greek Pension Rationing Begins; Poll Shows Tsipras Backedby Eleni ChrepaElliott GotkinePaul Tugwell
July 1, 2015 — 3:13 AM EDTUpdated on July 1, 2015 — 4:44 AM EDTIt’s a day of fresh indignities for the people of Greece.

About a third of the nation’s depleted banks cracked open their doors after being closed for three days. But all they did was ration pension payments, hours after the country became the first advanced economy to miss a payment to the International Monetary Fund and its bailout program expired.

While Greek retirees receive a fraction of what they’re due, European officials resume efforts to prevent the economy from cratering after more than five years of crisis-fighting. Finance ministers weigh a new aid bid from Prime Minister Alexis Tsipras and European Central Bank policy makers discuss whether to maintain their emergency lifeline.

“People are just completely fed up,” said Andrea Montanino, a former IMF executive board member who now heads the global economics program at the Atlantic Council in Washington.

The first poll before a snap referendum Sunday indicated most people back Tsipras. The survey, in Efimerida ton Syntakton newspaper, showed 54 percent would vote “no” — rejecting austerity in exchange for aid — and 33 percent would vote “yes” — accepting austerity as the price of staying in the euro. The poll was conducted by ProRata, which surveyed 1,200 people June 28-29 with a margin of error of 2.8 percent.

Turned Away

On the third day of capital controls, a few dozen pensioners lined up by 7 a.m. at a central Athens branch of the National Bank of Greece, an hour before opening time. They were to receive a maximum of 120 euros ($133), compared with the average monthly payment of about 600 euros. Many left with nothing after the manager said only those with last names starting with the letters A through K would get paid.

“Not only will I have to queue for hours at the bank in the hope of getting 120 euros, but I’ll have a two-hour round trip,” said Dimitris Danaos, 77, a retired local government worker who was making the bus journey from his home outside the Greek capital to the suburb of Glyfada. “And I fear that this situation won’t be over anytime soon.

https://www.bloomberg.com/news/articles/2015-07-01/greek-pension-rationing-begins-as-poll-shows-backing-for-tsipras?utm_campaign=sniply&utm_medium=sniply&utm_source=sniply

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Greek crisis deepens as loan repayment deadline passes

GREECE

Kim Hjelmgaard and Marco della Cava, USA TODAY8:18 p.m. EDT June 30, 2015

Greece’s midnight deadline passed Tuesday for repaying $1.8 billion to the International Monetary Fund and other international creditors, deepening a financial crisis that threatens the Mediterranean nation’s membership in the European Union.

Despite an eleventh-hour effort by Greek lawmakers Tuesday to secure a new two-year debt deal before the deadline, European finance ministers reviewing Greece’s proposal concluded their conference call without offering a bailout extension.

The ministers agreed to convene again Wednesday to further discuss the details of a new series of loans from the eurozone’s European Stability Mechanism, its $560 billion rescue fund.

After the deadline passed (at 6 pm ET), Greece joined Zimbabwe, Sudan and Somaliain being in arrears to the IMF. Fitch Ratings has downgraded Greece’s government debt further into junk territory.

https://www.usatoday.com/story/news/2015/06/30/greek-crisis-deepens-as-loan-repayment-deadline-nears/29518847/

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Greece could face social unrest soon

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Greece could face social unrest soon: Wilbur Ross

Matthew J. Belvedere | @Matt_Belvedere

The deteriorating situation in Greece—including long lines and a 60 euro ($67) limit at ATMs—could get much worse if voters there refuse to accept creditor-imposed reforms in a referendum this coming Sunday, said billionaire Wilbur Ross, who has a large interest in the country.

“Once there’s social unrest, which there will be before too long if this thing continues, no tourist is going to want to go to [Greece],” Ross told CNBC’s “Squawk Box” on Monday. “If the Greek people understand how limited those concessions that are requested are, and contemplate going into the abyss on other side, they’re never going to pick the abyss.”

Read MoreGrexit a tragedy, but ‘Apocalypse Not’: Strategist

Last year, the chairman and CEO of WL Ross & Co. and other international financiers invested $1.8 billion in Eurobank—becoming the biggest shareholder of Greece’s third-largest bank. He said Monday he made the bet thinking the current government would not be in power.

Ross said there are lines at Eurobank branches, but surprisingly they’re “not totally out of control yet.”

https://www.cnbc.com/id/102795010

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Greece on the Verge of a Meltdown

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Shock vote on terms of bailout pushes Greek banks to the brink of meltdown as long queues form at country’s cashpoints

Eurozone finance ministers have refused a Greek request to extend its bailout programme
The current programme expires on June 30, and will not be continued
Finance ministers are continuing emergency meetings in Brussels without Greece to decide the consequences
Hundreds rushed to ATMs across the country, after Prime Minister Alexis Tsipras called for a referendum on the bailout at 1am Greek time

By SIMON WALTERS AND GLEN OWEN FOR THE MAIL ON SUNDAY

PUBLISHED: 07:06 EST, 27 June 2015 | UPDATED: 07:16 EST, 28 June 2015

Greek banks were on the brink of meltdown last night after the shock announcement that its crisis-hit government would hold a referendum on the terms of a fresh international bailout.

Long queues formed outside the country’s cashpoints after prime minister Alexis Tsipras accused the International Monetary Fund and eurozone of trying to blackmail his country – and pledged to give the Greek people the final say in a vote next weekend.

Mr Tsipras described the bailout plan as ‘humiliation’, condemned ‘unbearable’ austerity measures demanded by creditors and said he would campaign for a ‘no’ result.

Read more: https://www.dailymail.co.uk/news/article-3141480/Hundreds-queue-outside-banks-fears-Grexit-grow-ahead-MPs-vote-bailout-referendum.html#ixzz3eMXxSqm3

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So what if Greece leaves the European Union?

GREECE

By George F. Will Opinion writer June 19 at 9:04 PM

Now come Greeks bearing the gift of confirmation that Margaret Thatcher was right about socialist governments: “They always run out of other people’s money.” Greece, from whose ancient playwrights Western drama descends, is in an absurdist melodrama about securing yet another cash infusion from international creditors. This would add another boulder to a mountain of debt almost twice the size of Greece’s gross domestic product. This protracted dispute will result in desirable carnage if Greece defaults, thereby becoming a constructively frightening example to all democracies doling out unsustainable, growth-suppressing entitlements.

In January, Greek voters gave power to the left-wing Syriza party, one third of which, the Economist reports, consists of “Maoists, Marxists and supporters of Che Guevara.” Prime Minister Alexis Tsipras, 40, a retired student radical, immediately denounced a European Union declaration criticizing Russia’s dismemberment of Ukraine. He chose only one cabinet member with prior government experience — a former leader of Greece’s Stalinist Communist Party. Tsipras’s minister for culture and education says Greek education“should not be governed by the principle of excellence . . . it is a warped ambition.” Practicing what he preaches, he proposes abolishing university entrance exams.

https://www.washingtonpost.com/opinions/the-greek-monetary-melodrama/2015/06/19/4ae915de-15ea-11e5-9518-f9e0a8959f32_story.html?postshare=4111434808557805

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Greece: Greenspan predicts exit from euro inevitable

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Greece: Greenspan predicts exit from euro inevitable

Greenspan says only political integration will save the euro
Continue reading the main story

The former head of the US central bank, Alan Greenspan, has predicted that Greece will have to leave the eurozone.

He told the BBC he could not see who would be willing to put up more loans to bolster Greece’s struggling economy.

Greece wants to re-negotiate its bailout, but Mr Greenspan said “I don’t think it will be resolved without Greece leaving the eurozone”.

Earlier, UK Chancellor George Osborne said a Greek exit would cause “deep ructions” for Britain.

Mr Greenspan, chairman of the Federal Reserve from 1987 to 2006, said: “I believe [Greece] will eventually leave. I don’t think it helps them or the rest of the eurozone – it is just a matter of time before everyone recognises that parting is the best strategy.

https://www.bbc.com/news/business-31249907