ECB Plans to Set Yield Targets for Bond Purchases

Interest rates on Spanish sovereign bonds have been rising to dangerous levels in recent weeks. Now, SPIEGEL has learned that the European Central Bank plans to use a new instrument to stop the trend: The bank is considering setting yield targets on the bonds of euro-zone countries. Should interest rates exceed those levels, the ECB … Continue reading

German ‘hypocrisy’ over Greek military spending has critics up in arms

Athens’ fondness for weaponry, and willingness of Germany and France to feed it, under fire as Greece struggles with debt crisis. A few months before submarines became the talk of Athens, Yiannis Panagopoulos, who heads the Greek trade union confederation (GSEE), found himself sitting opposite Angela Merkel at a private meeting the German chancellor had … Continue reading

Greece: Former defense minister arrested on money-laundering charge

ATHENS, Greece — A former Socialist defense minister was arrested in Athens Wednesday on criminal charges of money laundering in connection with alleged corruption over a submarine contract. Akis Tsochadzopoulos, 72, was remanded in police custody until Monday, when he will appear before a magistrate. A conviction on those chargee carry a maximum 10-year prison … 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

France and Germany ‘to blame for Greece crisis’

As Greeks wait for a second eurozone rescue package to finally be agreed in Brussels today, many are blaming Germany and France for encouraging and benefiting from some of the much-criticised profligate spending which reduced Greece to near bankruptcy. About 1,000 protesters gathered in front of the Greek Parliament in central Athens yesterday afternoon while … Continue reading

EU Turns down Fence between Greece and Turkey

The EU declined Greece’s plan to erect a fence on the border to Turkey saying it was “unnecessary and too expensive”. Assoc. Prof Danış told bianet that a fence was not the solution to the reasons of immigration. In her opinion, Greece wanted to give a message with this project. The European Union (EU) declined the plan … Continue reading

Is Germany trying to win World War III?

Germany lost World War 1 and World War II. Wags looking at the Eurozone crisis say Germany is now winning World War III, without any weapons, through sheer economic domination of Europe. Hitler launched World War II demanding a little more lebensraum (living space) in Czechoslovakia and Poland. But Angela Merkel, it is said, has … Continue reading

Property Of Submarine Bribe-Collecting Former Greek Defense Minister Seized For Tax Evasion

The following anecdote should probably explain why Germany is now ready to part ways with Greece, Lehman-like consequences be damned. As Kathimerini reports, former PASOK defense minister Akis Tsochatzopoulos has had one of his properties in central Athens seized, the same he is alleged not to have declared to avoid paying taxes.

Greece Is Building A $7.3 Million Barbed Wire Fence To Keep Out Illegal Immigrants

Sanya Khetani In a bid to curb the number of illegal immigrants that enter the country, Greece has begun construction on a 6 mile-long, 13 foot-tall barbed-wire-topped fence along its border with Turkey, EUObserver reports.  The fence — to be completed in September in the Evros region on the Greek-Turkish border — will be equipped with a network of night-vision … Continue reading