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Tag Archives: reasons

Three reasons Zakynthos survived 6.8R earthquake with minor damages

The powerful earthquake that hit the island of Zakynthos with 6.8R in the early morning hours of Friday had surprisingly few damages. Despite its force, there were no casualties and “no injuries” as the mayor told media Friday noon, several hours after the earthquake. Some old uninhabited houses and buildings …

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US rocker Chris Cornell visits Elaionas refugee camp in Athens

US rocker Chris Cornell visited a refugee camp in Athens to hear first hand the stories and the plight of people fleeing war. Cornell and his wife Vicky Karayannis visited the Eleonas camp beginning of the month. The camp hosts mostly Afghan refugees. The Cornell family visited the camp together …

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Reasons why teleconference between Greece and creditors was cancelled

The teleconference between Greece and creditors scheduled for Wednesday evening has been cancelled. The conference was to take place between Greek government representatives – Finance, Deputy Finance and Labor Ministers – and representatives from the institutions. According to government sources, the teleconference was cancelled because one of the representatives of …

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Ex Defense Minister Tsochatzopoulos released from prison after 5 years

The five-member Court of Appeals for Felonies decided to release from prison former PASOK Defense Minister Akis Tsochatzopoulos due to health reasons.Akis Tsochatzopoulos was convicted to 20 years imprisonment for bribes and money laundering. Total time he spent in prison is five years. By a majority of three to two …

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Corruption prosecutor resigns, claiming she was targeted over pharma company probe

Greece’s corruption prosecutor Eleni Raikou submitted her resignation on Friday claiming she was being targeted by “unofficial power centres” due to her investigation of alleged extensive bribery of state officials by the pharmaceutical firm Novartis. Eleni Raikou has been holding this position since 213. Greece’s Corruption Prosecutor Eleni Raikou resigned …

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Why is Germany bringing Tons of Gold back home?

Germany’s central bank is bringing home gold reserves stored in places like New York and Paris faster than planned. The schedule was set for 2020. The move has the world puzzling as confidence in the euro ebbs even in the heart of the currency bloc after a decade of a …

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Why do major investors avoid Greece?

Greece is eager to attract major investors willing to put their money in Greece and create jobs. But investors are reluctant to do so. The question remains, however: Is the high level of Greece’s sovereign debt an obstacle to attracting investment? Indices measuring a country’s competitiveness – often a “gold …

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Greek Navy helicopter crashes, 3 dead. Turkey claims SAR area in the Aegean

An Agusta-Bell 212 helicopter of the Greek Navy crashed in the Aegean Sea in the early morning hours of Thursday. Two pilots and one engineer have been declared missing as crews participating in a broad Search and Rescue operation have not located them yet. The helicopter was on a night …

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Study: 500 male Greeks committed suicide “solely due to fiscal austerity”

Spending cuts in Greece have caused some 500 male suicides since their implementation, according to a new study. The research found a positive correlation between austerity and suicide rates after other possible links proved to be unrelated. The 30-page study, titled ‘The Impact of Fiscal Austerity on Suicide: On the …

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Thessaloniki: frustrated merchants saw Easter turnover decrease at 20%

Merchants in Thessaloniki are frustrated. Consumption during the Holy Easter Week did not meet their expectations. According to a survey conducted by the Commercial Association of Thessaloniki among 100 traders, revenues dropped 20% in average when compared to the previous year. 82% of the respondent saw a decrease in turnover. …

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Juncker: “Germany & France Act as if they are the Only Members of the Euro-Group”

Head of Euro Group  Jean-Claude Juncker said he’s stepping down as head of eurozone finance ministers group because he is tired of German-French interference. Further he said that the Eurobond eventually will come and added “not under this political atmosphere” meaning most probably Berlin.   Luxembourg Prime Minister Jean- Claude Juncker said he’s …

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