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August 08, 2018, 02:38:10 am suzytr says: Hello, any good churches in the Sacto, CA area, also looking in Reno NV, thanks in advance and God Bless you Smiley
January 29, 2018, 01:21:57 am Christian40 says: It will be interesting to see what happens this year Israel being 70 years as a modern nation may 14 2018
October 17, 2017, 01:25:20 am Christian40 says: It is good to type Mark is here again!  Smiley
October 16, 2017, 03:28:18 am Christian40 says: anyone else thinking that time is accelerating now? it seems im doing days in shorter time now is time being affected in some way?
September 24, 2017, 10:45:16 pm Psalm 51:17 says: The specific rule pertaining to the national anthem is found on pages A62-63 of the league rulebook. It states: “The National Anthem must be played prior to every NFL game, and all players must be on the sideline for the National Anthem. “During the National Anthem, players on the field and bench area should stand at attention, face the flag, hold helmets in their left hand, and refrain from talking. The home team should ensure that the American flag is in good condition. It should be pointed out to players and coaches that we continue to be judged by the public in this area of respect for the flag and our country. Failure to be on the field by the start of the National Anthem may result in discipline, such as fines, suspensions, and/or the forfeiture of draft choice(s) for violations of the above, including first offenses.”
September 20, 2017, 04:32:32 am Christian40 says: "The most popular Hepatitis B vaccine is nothing short of a witch’s brew including aluminum, formaldehyde, yeast, amino acids, and soy. Aluminum is a known neurotoxin that destroys cellular metabolism and function. Hundreds of studies link to the ravaging effects of aluminum. The other proteins and formaldehyde serve to activate the immune system and open up the blood-brain barrier. This is NOT a good thing."
http://www.naturalnews.com/2017-08-11-new-fda-approved-hepatitis-b-vaccine-found-to-increase-heart-attack-risk-by-700.html
September 19, 2017, 03:59:21 am Christian40 says: bbc international did a video about there street preaching they are good witnesses
September 14, 2017, 08:06:04 am Psalm 51:17 says: bro Mark Hunter on YT has some good, edifying stuff too.
September 14, 2017, 04:31:26 am Christian40 says: i have thought that i'm reaping from past sins then my life has been impacted in ways from having non believers in my ancestry.
September 11, 2017, 06:59:33 am Psalm 51:17 says: The law of reaping and sowing. It's amazing how God's mercy and longsuffering has hovered over America so long. (ie, the infrastructure is very bad here b/c for many years, they were grossly underspent on. 1st Tim 6:10, the god of materialism has its roots firmly in the West) And remember once upon a time ago when shacking up b/w straight couples drew shock awe?

Exodus 20:5  Thou shalt not bow down thyself to them, nor serve them: for I the LORD thy God am a jealous God, visiting the iniquity of the fathers upon the children unto the third and fourth generation of them that hate me;
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« Reply #330 on: October 24, 2012, 02:40:21 pm »

http://news.yahoo.com/greece-got-extension-eu-no-havent-145326018--finance.html

Greece: We got an extension; EU: No you haven't
By The Associated Press | Associated Press – 4 hrs ago

10/24/12

ATHENS, Greece (AP) — Greece's Finance Minister said the country has been granted a long-sought extension to meet the terms of its bailout program — but the claim was swiftly shot down as "speculation" by the European Central Bank and lead lender Germany.

Finance Minister Yannis Stournaras said the deal was struck as part of weeks-long negotiations with its international creditors over a €13.5 billion ($17.56 billion) package of new austerity measures for the next two years, required for continued emergency loan payments.

"What have we achieved today? We have achieved the extension," the minister told parliament. "If we had not been granted that extension, today we not only have needed to take measures worth €13.5 billion euros, but €18.5 billion ($24 billion)."

He added: "We have not gone bankrupt because we still have funds remaining from the previous installment."

One of the conditions of Greece's current €240 billion bailout program is that it reforms the economy so the country can eventually return to the bond markets to raise money.

Greece has asked for a two-year extension on its adjustment program, till the end of 2016, so that it ease the impact of further austerity measures and labor market reforms.

In Berlin, German Finance Minister Wolfgang Schaeuble bluntly dismissed Stournaras' statement as "speculation"

"I can't confirm this," he told reporters.

"As far as the Federal Finance Ministry and the German government are concerned, there are no new developments."

Schaeuble said creditors were still awaiting a report on Greece's progress by the so-called troika of debt inspectors, from the European Union, the ECB and International Monetary Fund, before any decisions would be made.

ECB President Mario Draghi also poured cold water on the Greek statements.

"The review is not finished yet," he said. "I understand progress has been made but that some parts need to be defined, and I don't know anything more than that. I cannot comment on these rumors."
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« Reply #331 on: October 26, 2012, 03:30:27 pm »

If Elections Were Held In Greece Today
19 October 2012, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2012-10-19/if-elections-were-held-greece-today

... Europe would be worried to quite worried:

- Anti-bailout Syria: 30.5%

- New Democracy: 27% - Currently ruling

- Golden Dawn (nationalists): 14%

- Pasok and Democratic Left: 5%

In other words, the anti-bailout party and the neo-nazis would have a near majority in parliament.

Also:

- 78% of respondents are opposed to new budget measures being agreed between the Greek government and troika

- 81% say country headed in wrong direction

Source: Poll conducted by VPRC for Greece Tomorrow; sample size of 1,003, conducted Oct. 16 - Oct. 17 and has a margin of error of 3.16 percentage point
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« Reply #332 on: October 26, 2012, 03:31:33 pm »

Greece ‘off track,’ will badly miss debt target
26 October 2012, (Reuters - Financial Post)
http://business.financialpost.com/2012/10/26/greece-off-track-will-badly-miss-debt-target/


Greece debt extension could cost up to 30 bn euros: Source
26 October 2012, (Economic Times)
http://economictimes.indiatimes.com/news/international-business/greece-debt-extension-could-cost-up-to-30-bn-euros-source/articleshow/16966773.cms


One year after IMF bailout, Greece still big on military spending
26 October 2012, (RT)
http://rt.com/news/eu-greece-bailout-arms-spending-273/
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« Reply #333 on: October 28, 2012, 05:30:18 pm »

http://news.yahoo.com/germany-no-greek-debt-haircut-091952175--finance.html;_ylt=AuLyFfL1aYq99PE3fDiT6oXyWed_;_ylu=X3oDMTVxMzkzdXN1BGNjb2RlA2dtcHRvcDEwMDBwb29sd2lraXVwcmVzdARtaXQDQXJ0aWNsZSBNaXhlZCBMaXN0IE5ld3MgZm9yIFlvdSB3aXRoIE1vcmUgTGluawRwa2cDOTIzZDMzM2MtZDgyNS0zZWQ2LWIzODItYWYzMWNjZjYwOWZiBHBvcwMzBHNlYwNuZXdzX2Zvcl95b3UEdmVyA2NjZjUwYjIwLTIwZWYtMTFlMi1hM2Y5LWFkZjc5MjA5YTYxMw--;_ylg=X3oDMTM1YmNhOWJjBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDNTRjMzUzOGQtNzAwZS0zZmFlLThkMmMtYWZiOWQ4YjJkOTQxBHBzdGNhdAN3b3JsZHxsYXRpbmFtZXJpY2EEcHQDc3RvcnlwYWdl;_ylv=3

Germany: No to new Greek debt haircut

10/28/12

BERLIN (AP) — Germany's finance minister has dismissed the idea of governments and other public creditors taking a hit on their Greek debt holdings, arguing that it wouldn't be legally feasible.

However, Wolfgang Schaeuble said in an interview with Deutschlandfunk radio broadcast Sunday that a debt buyback program — under which Greece would get loans that would allow it to pay off debts — might be possible. That, he said, "is not a trick; it is a consideration that can seriously be engaged in."

Greece is pushing for a two-year extension of the 2014 deadline to meet the terms of its bailout program, a move expected to incur substantial extra costs.

Private creditors agreed earlier this year to take a so-called haircut, or restructuring, on their Greek debt holdings — accepting a 53.5 percent loss on the face value of bonds.

Public-sector creditors were spared; however, German weekly Der Spiegel, without citing sources, reported Sunday that Greece's international debt inspectors are now proposing a new restructuring that would include them.

Schaeuble said guarantees were given at the time of the private-sector restructuring that "that will be all — so it's a bit unrealistic now to talk about further haircuts." He also argued that a new haircut would raise questions over whether other governments in the 17-nation eurozone could continue helping Greece.

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« Reply #334 on: October 30, 2012, 04:31:35 pm »

http://news.yahoo.com/greece-delays-austerity-vote-warns-chaos-134854081--finance.html

.
Greece delays austerity vote, warns of 'chaos'
By DEREK GATOPOULOS | Associated Press – 2 hrs 10 mins ago.

ATHENS, Greece (AP) — Greece's coalition government will delay a vote on major new austerity measures by another week, warning Tuesday there would be financial chaos if a deal is not reached.

Finance Minister Yannis Stournaras told reporters the austerity measures, worth €13.5 billion ($17.4 billion), would be submitted to parliament next week, as the three parties in government continue to disagree over new savings demanded by international bailout lenders.

Stournaras denied local media reports that the bill could be broken up to ease objections by a left-wing junior coalition partner. "All of the (draft legislation) will be submitted next week. I think there is no other way to do it," he said.

Greece's bailout creditors want the austerity package passed if they are to hand over more loans that Greece needs to avoid bankruptcy.

Greece's conservative Prime Minister Antonis Samaras is at odds with the Democratic Left party, a coalition partner that is threatening to vote against the new austerity measures unless labor reforms included in them are scrapped.

Samaras formed a coalition with the traditional rival Socialists and the Democratic Left after general elections in June.

In a statement, the prime minister said he had "exhausted all the available time" to try and reach a consensus.

"The problem is not whether we (introduce) this measure or that measure. On the contrary: It is what we would do if no agreement is reached and the country is led into chaos."

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« Reply #335 on: November 07, 2012, 10:19:36 am »

http://www.reuters.com/article/2012/11/06/us-greece-idUSBRE8A51JR20121106

11/6/12

Greece to vote on austerity, protests intensify

(Reuters) - Greece's coalition government hopes to overcome its own divisions and defy protesters' fury at parliament's gates on Wednesday to push through an austerity package needed to secure an injection of aid and avert bankruptcy.

Prime Minister Antonis Samaras is expected to narrowly win support for the cocktail of budget cuts, tax hikes and labor reforms. The smallest party in his conservative-liberal coalition will oppose the measures, leaving him with a margin of just a handful of votes.

Tens of thousands of union workers plan to descend on the assembly in a second day of a nationwide strike that has brought most public transport to a halt and shut schools, banks and government offices.

Backed by the leftist opposition, unions say the measures will hit the poor and spare the wealthy, while also deepening a five year recession that has wiped out a fifth of the Mediterranean country's output and driven unemployment to 25 percent.

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« Reply #336 on: November 10, 2012, 10:01:54 am »

Greek suicide epidemic continues: Debt-strapped pensioner hangs himself

5/30/12

http://rt.com/news/greece-pensioner-suicide-crisis-619/

A 61-year-old Greek pensioner has hung himself from a tree in a public park after succumbing to the pressure of crushing debt. A note in his pocket indicates he is merely the latest in a rash of economic crisis-induced suicides.

The pensioner’s lifeless body was found dangling by an attendant in a public park not far from his home in the suburb of Nikaia, Athens. The attendant also found a suicide note in the man’s pocket, The Athens news reports.

The man, identifying himself as Alexandros, said he was a man of few vices who “worked all day.”  However, he blamed himself from committing one “horrendous crime”: becoming a professional at the age of 40 and plunging himself into debt. He referred to himself as a 61-year-old idiot who had to pay, hoping his grandchildren would not be born in Greece, as the country’s prospects were so bleak.

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« Reply #337 on: November 13, 2012, 11:28:54 am »

http://news.yahoo.com/eu-imf-clash-over-greece-revives-debt-crisis-102454042--business.html;_ylt=AodmCpEgl5jnFZcWUhfHp0b59XQA;_ylu=X3oDMTVxdTg4NmFlBGNjb2RlA2dtcHRvcDEwMDBwb29sd2lraXVwcmVzdARtaXQDQXJ0aWNsZSBNaXhlZCBMaXN0IE5ld3MgZm9yIFlvdSB3aXRoIE1vcmUgTGluawRwa2cDOGU1MWNkYTAtM2Q2NS0zMzQ4LTg5MDktODk1MWE5YTE3Yjc0BHBvcwMxBHNlYwNuZXdzX2Zvcl95b3UEdmVyA2ZmYzg2MzgwLTJkYTYtMTFlMi1iZmRiLTVmODc5OGViMzM5MQ--;_ylg=X3oDMTJqY2Jpamo2BGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDMzFlODE3OGUtY2JlNi0zNTgzLTg4YWItN2NkYzc0OGI3YTgyBHBzdGNhdAMEcHQDc3RvcnlwYWdl;_ylv=3

11/13/12

EU, IMF clash over Greece revives debt crisis fears

BRUSSELS (Reuters) - A public clash between Greece's international lenders over how Athens can bring its debts down to a sustainable level has reignited fears that Europe's troubles could flare up anew.

Euro zone finance ministers suggested Greece, where the euro zone debt crisis began, should be given until 2022 to lower its debt to GDP ratio to 120 percent but International Monetary Fund chief Christine Lagarde insisted the existing target of 2020 should remain, in an unusually public airing of disagreement.

Beneath her sharp exchange with Jean-Claude Juncker, who chairs the Eurogroup of finance ministers, lies a rift over whether euro zone governments need to write off some of Greece's debt to them to make it manageable. IMF officials have pressed for such a "haircut" while Germany, the biggest contributor to euro zone bailout funds, has vehemently rejected it as illegal.

German Finance Minister Wolfgang Schaeuble told reporters on Tuesday that the 2020 deadline was "a little too ambitious".

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http://news.yahoo.com/canada-dollar-weaker-over-greece-uncertainty-141205501--finance.html

11/13/12

Canada dollar weaker over Greece uncertainty

TORONTO (Reuters) - The Canadian dollar was slightly weaker against the U.S. currency on Tuesday in choppy trade, with uncertainty over aid to Greece hurting the value of riskier assets.

European countries deliberating on the payment of delayed loans to Greece could decide to bundle several tranches together in a single transfer of roughly 44 billion euros, a German government source said.

The news lifted the euro, but investors remained concerned as Greece's international lenders clashed over the time frame Athens needs to bring its debt down.

"This morning has been a push and pull from risk appetite, with mostly weaker risk appetite prevailing as it relates to confusion about the next payment for Greece," said Mark Chandler, head of Canadian fixed income and currency strategy of Royal Bank of Canada.

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« Reply #338 on: November 14, 2012, 09:58:33 am »

Greece Seen Needing $41 Billion in Challenge to Creditors
12 November 2012, by Rainer Buergin, James G. Neuger and Brian Parkin (Bloomberg)
http://www.bloomberg.com/news/2012-11-12/greece-seen-by-troika-needing-eu15-billion-through-2014.html

Excerpt:

Greece may need as much as €32.6 billion ($41 billion) in extra financing through 2016, putting pressure on a German-led bloc of creditors to make concessions in order to prevent a renewed flareup of the European debt crisis.

Plans to give Greece two more years to meet deficit- reduction targets would open up financing gaps of €15 billion through 2014 and €17.6 billion in 2015-2016, according to an assessment by the country’s creditors that was obtained by Bloomberg News.

The report ahead of tonight’s meeting of euro-area finance ministers in Brussels gave a mixed review of Greece’s progress from debt to recovery, saluting Prime Minister Antonis Samaras’s coalition for “a significant catching-up,” while saying that “risks to the program remain very large.”

Greece’s recession-hit and debt-encumbered economy returns to the spotlight just as concerns mount over Spain and Cyprus and at a time when crisis management is clouded by forecasts that the 17-nation currency bloc’s economy will virtually grind to a halt next year.

Representatives of creditor governments said they won’t be rushed into easing up on Greece.

On his way into the meeting, Finance Minister Wolfgang Schaeuble of Germany, the biggest contributor to the European bailouts, said the priority is on “thoroughness” and added that Germany’s stance will be dictated by its parliament.
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« Reply #339 on: November 14, 2012, 10:00:58 am »

Europe Gives Greece 2 More Years to Reach Deficit Targets
13 November 2012, by James G. Neuger and Stephanie Bodoni (Bloomberg)
http://www.bloomberg.com/news/2012-11-12/europe-gives-greece-2-more-years-to-reach-deficit-debt-targets.html

Excerpt:

Euro-area finance ministers gave Greece two extra years to wrestle down its budget deficit, pledging to plug the resulting financing gaps in order to keep the country in the single currency and prevent a renewed flareup of the debt crisis.

Finance ministers granted Greece until 2016 to cut the deficit to 2% of GDP.

They put off until Nov. 20 a decision on how to cover additional Greek needs of as much as €32.6 billion ($41 billion) and left unclear whether the International Monetary Fund will continue to contribute.

In the latest compromise in three years of crisis fighting, creditors led by Germany opted to keep money flowing to Greece instead of risking a default that could lead to the nation’s exit from the euro and stir more turmoil for countries left in it.

“Greece has done a big part of what it was supposed to do, adopted an ambitious reform program and a budget for 2013 that’s impressive,” Luxembourg Prime Minister Jean-Claude Juncker told reporters in Brussels late yesterday after chairing the ministers’ meeting.

He said “a certain number of avenues” except the writedown of official loans are being looked at for filling the funding gap.
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« Reply #340 on: November 14, 2012, 10:02:13 am »

Greek economy shrank by 7.2 pct in Q3, pointing to worse than expected recession
14 November 2012, (Ekathimerini)
http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_14/11/2012_469950

Greece’s economy contracted by 7.2% of GDP in the third quarter of this year, according to data published by the Hellenic Statistical Authority (ELSTAT) on Wednesday.

“Available non-seasonally-adjusted data indicate that, in the third quarter of 2012, the GDP at constant prices of year 2005 decreased by 7.2% in comparison with the third quarter of 2011,” ELSTAT said.

This represents the deepest contraction so far this year, as the economy shrank by 6.7% in the first quarter and 6.3% in the second, according to revised figures presented by ELSTAT

The figure could yet be revised but puts in doubt the Finance Ministry’s estimate of a 6.5% overall contraction of the economy this year.

ELSTAT also revised figures for previous years’ contraction, leading to recession figures for 2010 and 2011 showing an even deeper recession than previously though.

GDP contraction for 2010 was revised to 4.9% from 3.5%. For 2011, it increased from 6.9% to 7.1%.
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« Reply #341 on: November 14, 2012, 10:05:33 am »

Greece government approves more austerity cuts


Capital Account: Greece back on the Brink, IEA Projects US Oil Bonanza and Betting on a Grand Fiscal Bargain!
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« Reply #342 on: November 14, 2012, 05:50:52 pm »

http://news.yahoo.com/anti-austerity-strikes-sweep-southern-europe-135200865--business.html

11/14/12

Anti-austerity marches turn violent across southern Europe

MADRID/LISBON (Reuters) - Demonstrations turned violent in Spain and Portugal after millions took part in a mostly peaceful general strike on Wednesday in organized labor's biggest Europe-wide challenge to austerity policies since the debt crisis began three years ago.

In Lisbon, marches ended with a level of violence not seen since the crisis began, with police charging demonstrators who hurled stones and bottles, leaving nearly 50 people hurt.

Protesters in Madrid burned rubbish bins, filling the central boulevard with smoke, while in Barcelona demonstrators burned police cars.

Riot police fired rubber bullets to disperse protesters in both cities, where more than 140 people were arrested, including two said by police to be carrying material to make explosives, while more than 70 were reported injured.

Hundreds of flights were cancelled, schools were shut, factories were at a standstill and trains barely ran in Spain and Portugal where unions held their first joint general strike. Stoppages in Belgium interrupted international rail services.

Workers also protested in Greece and France against austerity policies that have taken a heavy economic toll and aggravated mass unemployment.

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« Reply #343 on: November 19, 2012, 08:09:01 am »

Was pming with a brethren over this issue the other day - and we agreed that pretty much while yes, the MSM does a decent job reporting what's going on behind the scenes of this engineered collapse, at the same time, all of it is really a dog and pony show.

For example, even all of the independent news media sources will contradict each other. Like Zero Hedge will say one thing, while Infowars will say another. Bloomburg news will say one thing, while Russia Today will say another. Also, while Zero Hedge is actually a decent news source, one time they DID say collapsing the system may not be a bad idea after all b/c somehow we need a new system.  Roll Eyes Uhm...isn't that what the NWO minions want? A NEW system? And Russia Today endorses global warming(even though they classify themselves as a "truther" source). Go figure...

Pt being that this system will collapse when the NWO minions get permission to do so. Or on the flip side of the coin, this whole dog and pony show may be likely used as fearmongering to get the masses to buy into a Socialist dictatorship.(ie-on this same flip side of the coin, this global system collapsing may not happen until the 3rd seal in Rev 6 gets unleashed, which will then usher in the mark of the beast midway through the 7 year trib - obviously we're not in the tribulation yet)

Anyhow, yes, good to read these articles, but always discern all of these news articles you read and watch b/c some will contain non-facts while every source will contradict each other.

1Th 5:21  Prove all things; hold fast that which is good.
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« Reply #344 on: November 21, 2012, 09:03:26 am »

Well, this is pretty big b/c in previous times over the last couple of years, they've seem to have no problems in "reaching agreements" to give Greece whatever "aid" they need. Who knows if they "reach an agreement" ultimately(even though it won't be good for anyone either way). But nonetheless you have this in Greece, Spain, the entire Europe and here in the States, what's really escalating in the Middle East now...someone please pass us the popcorn...

http://news.yahoo.com/eurozone-fails-reach-deal-greece-aid-040200015--finance.html

Eurozone fails to reach deal on Greece aid

BRUSSELS (AP) — European Union officials failed Wednesday to reach a deal on giving Greece more aid, prolonging uncertainty over the future of the debt-hobbled country and the 17-member eurozone.

Jean-Claude Juncker, chairman of the meeting of finance ministers from the 17 countries that use the euro, said the talks, which lasted nearly 12 hours, will reconvene on Monday. It was the second consecutive meeting at which the ministers failed to agree on a deal, highlighting the depth of their divisions over how to handle Greece's huge debt problem without reaching more deeply into the pockets of their own taxpayers.

Juncker, however, said he was optimistic that a deal could be reached.

"We are very close to a result. We see no major stumbling block," he said. There are technical issues and calculations to be made in coming days, he said.

But Christine Lagarde, the managing director of the International Monetary Fund, which gives Greece bailout loans alongside the eurozone, sounded a more cautious note, saying only "we have narrowed the positions."

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« Reply #345 on: November 25, 2012, 08:21:03 pm »

On another thread someone requested checking facts re: Merkel's genetic relationship to Hitler..
 But 50K Grecian's are VERY unhappy with her:

http://m.guardiannews.com/business/2012/oct/09/eurozone-crisis-angela-merkel-visits-greece?cat=business&type=article#block-50740d0ec0e361310bc6ca6e
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« Reply #346 on: November 29, 2012, 09:02:42 am »

When will any of this end...

http://news.yahoo.com/staying-afloat-europe-releases-more-money-greece-200618349.html

Staying afloat: Europe releases more money for Greece
After a 12-hour meeting lasting into the wee hours last night, Greece's creditors agreed to cut its debt and release more bailout funds, staving off yet another Greek bankruptcy.

After weeks of struggling in marathon meetings, Eurogroup finance ministers have finally come up with another bailout package for Greece, removing from Athens the imminent threat of a state bankruptcy and a Greek exit from the common currency, the euro.

Ministers from the 17 eurozone countries and officials from the International Monetary Fund (IMF) and the European Central Bank (ECB) agreed after another 12-hour meeting in Brussels last night to cut Greek sovereign debts by €40 billion ($52 billion) and to release another tranche of €44 billion ($57 billion) of bailout loans. The money will be used to refinance Greek banks and to pay salaries and pensions for state employees.

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« Reply #347 on: December 06, 2012, 07:54:14 pm »

http://news.yahoo.com/greek-jobless-rate-record-26-percent-202423471--finance.html

12/6/12

Greek jobless rate up to record 26 percent

ATHENS, Greece (AP) — Greece's unemployment rate rose to a new record of 26 percent in September, underscoring the economic plight in the country as it heads toward a sixth year of recession.

The Greek Statistical Authority said Thursday that 1.295 million people — more than one-fourth of the workforce in this nation of 10 million — were recorded as unemployed in September. Unemployment rose from 25.3 percent the previous month and 18.9 percent a year earlier.

Greek unemployment has surged to the highest since the 1960s as a result of harsh austerity measures imposed in return for vital international rescue loans.

The conservative-led coalition government is finalizing a major tax reform bill, demanded by international rescue creditors as one of several conditions for continued payments. It has promised to try to stem the country's recession, despite being forced last month to introduce another round of deeply unpopular austerity measures that are part of Greece's bailout commitments.

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« Reply #348 on: December 06, 2012, 07:55:37 pm »

http://news.yahoo.com/p-cuts-greece-selective-default-232301165.html;_ylt=AveJQGa1HvGIePDcf1z_Q5ew73QA;_ylu=X3oDMTVwNTU4YjdnBGNjb2RlA2dtcHRvcDEwMDBwb29sd2lraXVwcmVzdARtaXQDTkZVIEJ1Y2tldCBBcnRpY2xlIENvcmUgTkZVIHdpdGhvdXQgTW9yZSBMaW5rBHBrZwNkMDljZDk3Ny1hNzkxLTNiMzgtODkyOS1jZjVhYzIzNGM4NTIEcG9zAzcEc2VjA25ld3NfZm9yX3lvdQR2ZXIDZTNkOTc0NTAtM2YzMi0xMWUyLTliZmYtOGRhYzEyYjE4ZDUz;_ylg=X3oDMTNvNzE2amY1BGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDNThiYTkwOTAtYzNjOC0zMzcyLWJmOTEtMDNlMzFhNTQwOTQwBHBzdGNhdANidXNpbmVzc3x0b2RheS1zbWFya2V0cwRwdANzdG9yeXBhZ2UEdGVzdANONFVfY29yZQ--;_ylv=3

12/5/12

S&P cuts Greece to 'selective default'
S&P lowers Greece's credit rating to 'selective default' on auction plans




NEW YORK (AP) -- Standard & Poor's has lowered Greece's credit rating to "selective default" in light of its offer to buy back bonds at well below their face value.

Greece has announced plans to spend up to $13 billion on the buyback in a bid to bring its staggering debt load under control.

S&P says it sees the buyback as essentially a distressed debt restructuring tantamount to a default. The rating agency says it may raise its long-term credit rating on Greece back to junk-grade "CCC" once the buyback is complete.

Greece has fallen under S&P's default rating before. It returned to junk status this spring after it completed a major debt writedown with private creditors.
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« Reply #349 on: January 10, 2013, 09:14:47 am »

http://news.yahoo.com/unemployment-greece-reaches-record-highs-103340120--finance.html

Unemployment in Greece reaches record highs

1/10/13

ATHENS, Greece (AP) — Unemployment has reached new highs in Greece, with October 2012 figures showing the jobless rate at 26.8 percent, a major increase from the same month in 2011.
 
The country's Statistical Authority said Thursday that unemployment increased from the 26.2 percent in September 2012, and marked a significant jump from the 19.7 percent of October 2011. The young are the worst affected, with 56.6 percent of those aged between 15 and 24 out of work in October 2011.
 
Greece has been struggling through a severe financial crisis since late 2009, and has been dependent on international rescue loans since May 2010. In return, the government has imposed strict austerity measures that have slashed salaries, increased taxes and plunged the country into a recession. Tens of thousands of businesses have shut down.
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« Reply #350 on: January 10, 2013, 12:27:00 pm »

Bad loans increase by 50 percent in 2012
2 January 2013, by Yiannis Papadoyiannis (Ekathimerini)
http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_02/01/2013_476702

Nonperforming loans soared in 2012, with bank officials estimating the rise at some 50% on an annual basis.

Officials say that NPLs came close to 24% of all loans at the end of December, from 16% in December 2011, while all bad loans come to a considerable €55 billion.

This means that the sum of NPLs exceeds the total of the funds set aside for the recapitalization of the local credit system, which amount to €50 billion.

Nevertheless, there has been a notable improvement in economic conditions that is reflected in the significant slowdown in the rate of creation of new bad loans.

However, unless the growth of new NPLs is contained, banks may need yet another recapitalization process at the end of 2013, the same sources say.
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« Reply #351 on: January 16, 2013, 04:45:34 pm »

IMF Approves 3.2 Billion-Euro Disbursement for Greece
16 January 2013, by Sandrine Rastello (Bloomberg)
http://www.bloomberg.com/news/2013-01-16/imf-approves-3-2-billion-euro-disbursement-for-greece.html

The International Monetary Fund agreed to disburse €3.2 billion ($4.3 billion) to Greece after the country made new budget cuts, received more favorable aid terms from European nations and conducted a bond buyback.

The IMF board made the decision during a meeting today, it said in a press statement.

The funds are part of a joint €130 billion package with European nations, which unblocked their share last month.

“The situation on the Greek front is improving,” Thomas Costerg, an economist at Standard Chartered in London, said in an e-mail.

“This said, the situation remains fragile, and despite the buyback Greece’s huge debt is still an issue.”

The loan had been frozen since June as a recession and domestic opposition to the program drove Greece away from measures agreed to just three months earlier.

While European policy makers now turn their attention to reviving growth in the 17-country monetary zone and to bailing out Cyprus, Greece may yet again creep back on their agenda.

The government has to deliver on its commitments to earn each future payout and European finance ministers committed to “additional measures” if the country’s debt reduction veers off track.
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« Reply #352 on: February 12, 2013, 09:27:29 am »

http://news.yahoo.com/greece-raises-1-3-billion-122056088.html

2/12/13

Greece raises 1.3 billion euros in T-Bill auction

Greece raises 1.3 billion euros in T-Bill auction, interest rate roughly unchanged


ATHENS, Greece (AP) -- Greece has raised €1.3 billion ($1.74 billion) in a Treasury bill auction, with the interest rate paid on the three-month loan roughly unchanged from the last such auction.

The Public Debt Management Agency said the 13-week bonds were sold Tuesday at an interest rate of 4.05 percent, compared with 4.07 percent paid at a Jan. 15 auction.

Greece has been relying on emergency loans from other eurozone countries and the International Monetary Fund since losing access to long-term debt markets in 2010 but it has maintained a market presence with regular Treasury bill auctions.

Tuesday's sale was oversubscribed 1.76 times.
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« Reply #353 on: February 12, 2013, 12:28:43 pm »

http://news.yahoo.com/news-summary-metal-robbers-rise-182647102.html

2/11/13

News Summary: Metal robbers on the rise in Greece

News Summary: Metal robberies more frequent and more brazen in crisis-struck Greece


THE OLD: When Greece adopted the euro, it poured billions into modernizing its infrastructure, building spectacular bridges, highways, and a brand new rail transit network for Athens.

THE NEW: Now, locked in recession and crushed by debt, Greeks are targeting many of those projects, gouging out the metal and selling it for scrap to feed ravenous demand driven by China and India. Authorities say mainstream Greeks, not just those on the margins of society, are increasingly turning to metal robbery.

THE IMPACT: Thefts of industrial cable, power-line transformers and other metal objects have triggered blackouts and massive train delays.
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« Reply #354 on: February 14, 2013, 09:11:55 am »

http://news.yahoo.com/greek-unemployment-hits-record-poverty-spreads-122923910--finance.html

2/14/13

Greek unemployment hits record as poverty spreads

ATHENS, Greece (AP) — Unemployment in Greece rose to a record 27 percent in November as separate surveys on Thursday showed the country remains stuck in recession and predicted nearly a third of the population would be in poverty by the end of the year.
 
The Statistics Agency said unemployment increased from a rate of 26.6 percent in October and 20.8 percent in November the previous year. More than 30,000 people lost their job in November, the agency said, with the jobless rate accelerating from earlier in the year.
 
Worst affected are the young, with 61.7 percent of those in the 15-24 age group without a job.
 
Greece is mired in the sixth year of a recession, and has been relying for nearly three years on international rescue loans to keep it afloat. In return for the bailout, the government has imposed major spending cuts and tax hikes which have hammered the economy, causing an increase in poverty and forcing thousands of businesses to close.

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« Reply #355 on: February 19, 2013, 08:50:04 pm »

http://news.yahoo.com/anti-austerity-strike-bring-greece-standstill-233851099.html

2/19/13

Anti-austerity strike to bring Greece to a standstill

ATHENS (Reuters) - Greek workers walk off the job on Wednesday in a nationwide anti-austerity strike that will disrupt transport, shut public schools and tax offices and leave hospitals working with emergency staff.
 
Greece's two biggest labor unions plan to bring much of the near-bankrupt country to a standstill during a 24-hour strike over the cuts, which they say only deepen the plight of a people struggling to get through the country's worst peacetime downturn.
 
Representing about 2.5 million workers, the unions have gone on strike repeatedly since Europe's debt crisis erupted in late 2009, testing the government's will to implement necessary reforms in the face of growing public anger.
 
"The (strike) is our answer to the dead-end policies that have squeezed the life out of workers, impoverished society and plunged the economy into recession and crisis," said the private sector union GSEE, which is organizing the walkout with its public sector sister union ADEDY.

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« Reply #356 on: February 20, 2013, 11:30:41 pm »

http://news.yahoo.com/news-summary-greeces-workforce-starts-191605813.html

2/20/13

News Summary: Greece's workforce starts to crack

News Summary: Greeks going unpaid as jobs vanish, president warns of 'societal explosion'


NO-PAY DAYS: Not only are Greece's 1.35 million unemployed unable to make ends meet, but a growing number of those in work are struggling as more and more companies can no longer make regular salary payments.

TAXING TIMES: As well finding it harder to feed, heat and clothe themselves and their families, Greek workers also have to pay increasingly hefty taxes the government is relying on to turn the economy around.

DARK ROAD AHEAD? Union and independent analysts are worried Greece will face further years of economic struggle and protest as too many demands are placed on a shrinking workforce.
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« Reply #357 on: February 21, 2013, 04:42:03 pm »

http://news.yahoo.com/crisis-forces-greeks-skimp-weddings-funerals-183753520.html

2/21/13

Crisis forces Greeks to skimp on weddings, funerals

ATHENS (Reuters) - Fewer Greeks are walking down the aisle as their country's deep economic crisis takes a toll on their famously lavish weddings, an age-old ritual that has become an unbearable cost for those struggling to make ends meet.
 
Religious wedding ceremonies in bell tower chapels overflowing with flowers, meter-high candles and candy wrapped in tulle, are a deeply ingrained tradition in Greece, where the powerful Orthodox Church plays an influential role in society.
 
But as recession slides into its sixth year, unemployment rises and poverty spreads, a church wedding is a luxury many couples can no longer afford.
 
For 28-year-old bride Nafsika Koutrokoi, who works at a butcher shop, fulfilling her dream of marrying her fiancé, a cable technician, in church was a difficult decision that required huge sacrifices.
 
"Things are quite tough right now," she said after the wedding. "We cut down on many things, from invitations to the reception, on everything."
 
The number of Greek couples who tied the knot in church tumbled to 28,000 in 2011, two years into Europe's debt crisis, compared to the pre-crisis level of 40,000 in 2008, according to the country's statistic service ELSTAT.
 
In contrast, the number of low-key civil unions skyrocketed to 26,000 in 2011 from about 8,000 a decade earlier.
 
As Greece's crisis deepens and successive governments are forced to impose wage cuts and tax rises in exchange for the foreign aid keeping the economy afloat, the wedding industry's countless shops and planners are also feeling the pinch.
 
"They want whatever is cheapest, which often is not possible because the cost of everything is rising," said wedding shop owner Anastasia Theophanopoulou, whose family business has sold wedding supplies for decades. "There is a drastic drop."
 
The downturn has also had an unexpected effect on another ceremony revered by many Greeks - funerals.
 
With more and more Greeks having trouble paying for funerals, municipal authorities in Athens have reduced the cost of burial in the capital's cemeteries.
 
"There was always money for the deceased, but now people are in a very bad state," said Athens City Councillor Nikos Kokkinos, who is responsible for cemeteries.
 
Some Greeks do not collect their dead loved ones from the hospital to avoid having to pay for the funeral. Others can no longer afford a traditional marble tombstone and so leave plots as simple dirt mounds overgrown by weeds, a cemetery official said.
 
Funeral home director Vassilis Tranou has been forced to lower prices at his family-run business and sometimes will do a funeral - which costs at least 1,500 euros - for free.
 
"People don't have the money anymore or they don't spend like they used to, and Greeks are usually people who take great care with the people they have lost," Tranou said.
 
"It makes your hair stand on end," he said, recounting the story of a man who was only able to bury his mother by selling a family heirloom of four gold coins.
 
(Writing by Karolina Tagaris; Editing by Roger Atwood)
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« Reply #358 on: March 11, 2013, 12:14:13 pm »

http://news.yahoo.com/suffering-greeces-economy-shrank-again-113653473.html
3/11/13
Suffering Greece's economy shrank again at end of last year

ATHENS (Reuters) - Greece's economy shrank at an annual 5.7 percent in the last quarter of 2012, combining for a 20 percent slump in real terms since 2008.

It would have been worse but for a 17.5 percent drop in the country's fourth quarter trade gap, the country's statistics service ELSTAT said on Monday

The revised gross domestic product data showed a slightly a milder contraction than a 6 percent flash estimate made in February, but Greece is still expected to contract for a sixth straight year this year.

The government and the central bank both project a 4.5 percent 2013 contraction.

"The preliminary data confirmed the continuing contraction of domestic demand, with lower imports providing a positive influence," said Eurobank economist Platon Monokroussos.

Consumption, the main driver behind Greece's gross domestic product (GDP), fell 9 percent year-on-year, continuing to weigh on output.

Gross capital investment fell 10.3 percent in the fourth quarter, its rate of decline slowing compared to previous quarters.

The latest figures bring the full-year 2012 contraction to 6.4 percent, broadly in line with government projections.
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« Reply #359 on: March 11, 2013, 06:38:16 pm »

http://news.yahoo.com/cash-strapped-greece-puts-govt-buildings-block-181555626--finance.html
3/11/13
Cash-strapped Greece puts govt buildings on block

ATHENS, Greece (AP) — Greece's cash-strapped government detailed Monday its plans to sell 28 state-owned buildings on long-term lease, including tax offices, ministry buildings, and the main police headquarters in Athens. A government privatization fund said it hoped to make €30 million ($39 million) annually from the lease agreements lasting 20-25 years. Included on the list of buildings for sale are the main properties used by the ministries of justice, education and culture, 12 tax offices and the greater Athens police headquarters. Potential investors should express their interest by April 19, according to a statement by the Hellenic Republic Asset Development Fund. Greece is under pressure to speed up its privatization program by its rescue lenders, the other eurozone countries and the International Monetary Fund, who have been providing bailout funds since 2010 that are set to total €240 billion ($312 billion).
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