Greece plans detention sites for illegal migrants

ATHENS, Greece—Authorities in financially troubled Greece on Monday detailed plans to build detention centers for 30,000 illegal immigrants by 2014, a project they claimed would help fight rampant inner-city crime, deter economic migrants and create thousands of local jobs. Public Order Minister Michalis Chrysohoidis said 30 facilities — officially named “closed hospitality centers” — would … Continue reading

EXCLUSIVE: GREEK GOVERNMENT ROBBED PUBLIC INSTITUTIONS TO COMPLETE BOND SWAP

REVEALED: HOW VENIZELOS REGIME SECRETLY REMOVED 70% OF MAJOR HOSPITAL, UTILITY & UNIVERSITY BANK ACCOUNT FUNDS TO PAY BONDHOLDERS Bank of Greece complicit in broadscale embezzlement revealed by respectable Greek health site The illegally denied default of Greece entered a dramatic new phase this afternoon with the revelation by mainstream Greek public health website Health News that, … Continue reading

Dozens queue every week in Athens to apply for asylum

ATHENS, Greece, March 23 (UNHCR) – Every week more than 100 people, including a few women and children, wait for hours overnight outside a police building in Athens, hoping to apply for asylum. The moment they have been waiting for comes at 6:00 a.m. on Saturday, when staff at the Aliens Police Directorate in the Greek capital’s … Continue reading

Wasted talent: Greece’s young unemployed majority

More than half of young people in Greece are unemployed, the worst record for any eurozone country. Many feel abandoned by the state and are frustrated and angry. Emilio Papas opens the tall iron door to his squat near Exarhia Square, in the centre of Athens, to reveal an enormous five-storey building with high ceilings … Continue reading

EU Treatment of Greece Shows ‘Moral Decay’: Economist

European Union leaders showed “moral decay” in delaying Greece’s bond swap deal in order to minimize the impact on the region’s banks, according to High Frequency Economics’ founder and chief economist, Carl Weinberg.In a March report on the global economy, Weinberg said EU leaders had deliberately delayed Greece’s restructuring, to the detriment of its economy, in order to … Continue reading

Investors who bet Greece would default collect $2.5 billion

London (CNN) – Investors holding insurance to protect against Greece defaulting on its debts will collect just over $2.5 billion after an auction of the country’s bonds found their value to be 21.5 cents in the euro. The payout gives relief to those who have long bet the country will be unable to pay its bills. Greece … Continue reading

Pimco chief Mohamed El-Erian expects ‘second Greece’ in Portugal

Mohamed El-Erian, Pimco’s chief executive, said Portugal will need a second rescue as the original package of €78bn (£65bn) falls short, setting off a political storm over EU rescue costs. “Unfortunately, that is how it will be. It will make the financial markets nervous because they are worried about a participation of the private sector,” … Continue reading

Greece tops European arms importer ranks

Greece was Europe’s largest importer of arms between 2007 and 2011, according to a new report by the Stockholm International Peace Research Institute (SIPRI) released on Monday. Arms imports by Greece fell 18 percent compared to the 2002-06 period but Greece still ranked 10th internationally, falling from fourth place. Globally the volume of international transfers … Continue reading

Greece: It’s the geopolitics, stupid!

BY JACEK SARYUSZ-WOLSKI BRUSSELS – The eurozone decided to grant Greece a second bailout, but this does not mean that the country received a wallet full of money and that the risk of default is gone. Greece and its political elites need sober determination to implement socially difficult reforms also after the April elections. The Union … Continue reading

‘The Problem Has Only Been Deferred’

Nearly 86 percent of private investors have agreed to join in the debt-swap deal that will help Greece avoid an uncontrolled default. But is that good news? Many experts have their doubts. In a SPIEGEL ONLINE interview, economics professor Harald Hau argues that not only will the plan put the burden on taxpayers, but it will mean an … Continue reading