Michele's Feed
Nov 4, 2015

Greece carries out first relocation of refugees to Luxembourg

ATHENS (Reuters) – Greece relocated six asylum-seeking families to Luxembourg on Wednesday, the first such transfer from its soil under an European Union plan to ease the burden on EU periphery nations inundated by an influx of hundreds of thousands of refugees.

About 86 people have already been transferred directly from Italy to Sweden and Finland under the scheme. But some EU member states have not signed up to it, citing a lack of resources and infrastructure or fears their stability and security could be at risk from taking in large numbers of migrants.

Oct 30, 2015

Greek PM Tsipras says shamed by Europe’s handling of migrant crisis

ATHENS (Reuters) – Greece’s prime minister said on Friday he was ashamed to be a member of a European Union that he said was sidestepping responsibilities over the migrant crisis and crying hypocritical tears for children who have drowned trying to reach its shores.

In some of the hardest-hitting comments yet on a crisis resonating throughout Europe, Alexis Tsipras told parliament Greece didn’t want a “single euro” for saving lives as thousands of refugees continued to arrive daily on its shores, and the EU remained at odds on how to deal with the influx.

Oct 29, 2015

Greece searches for 38 migrants off Lesbos, four children drown

ATHENS (Reuters) – Four children, two men and one woman drowned and 38 migrants were missing after their wooden boat sank north of the Greek island of Lesbos, the coast guard said on Thursday, as an extensive search operation continued for a second day.

The coast guard rescued 242 people off Lesbos on Wednesday in what was thought to be the largest maritime disaster off Greece in terms of numbers involved since a massive refugee influx began this year. The search went on overnight.

Oct 27, 2015

Greece must recapitalise its banks by year end -EU’s Dombrovskis

ATHENS, Oct 27 (Reuters) – Greece and international lenders
must recapitalise its banks by the end of the year and swiftly
finalise an assessment of the country’s bailout-mandated
economic reforms, EU Commission Vice-President Valdis
Dombrovskis said on Tuesday.

Unless Greece’s four biggest banks are recapitalised before
legislation takes effect in January, depositors will be liable
for plugging capital shortfalls, he said.

Oct 21, 2015

Boat migrants come ashore at British RAF base in Cyprus

ATHENS (Reuters) – More than 100 migrants came ashore at a British military base on Cyprus on Wednesday, the first time in the migrant crisis that refugees have landed directly on British sovereign soil.

Two fishing boats carrying them were sighted in the early morning off RAF Akrotiri, a sprawling facility on a peninsula on the southern coast of the island. Local media said the vessels had been spotted by fishermen who raised the alert.

Oct 19, 2015

Cyprus says cannot lift veto on Turkey’s EU talks

ATHENS (Reuters) – Cyprus said on Monday it would not end its veto of Turkey’s accession negotiations with the European Union, potentially scuppering EU leaders’ plans to “re-energize” the talks in return for Ankara’s help in tackling Europe’s migrant crisis.

The conflict-divided east Mediterranean island has a long list of grievances against Turkey, its giant northern neighbor. It has blocked the accession talks for several years citing the presence of Turkish troops in the breakaway Turkish-speaking north of the island.

Oct 15, 2015

Cyprus’s Co-Op aims to shrink bad debts plaguing banks

NICOSIA, Oct 15 (Reuters) – Cyprus’s bailed-out Co-Op Bank
plans to tackle more than 1 billion in problem loans a year to
help to reduce a mountain of bad debt hobbling the island’s
banking system and holding back lending to households and
businesses.

Cyprus has the highest percentage of non-performing loans in
Europe, the legacy of an economic crisis which started in the
euro zone country in 2011 and culminated in a 10 billion
euro($11.43 billion) international bailout in 2013.

Sep 24, 2015

Greek ‘Twittergate’ shows perils of Tspiras balancing act

ATHENS (Reuters) – The resignation of a junior Greek minister hours after his appointment has exposed Prime Minister Alexis Tsipras to fierce criticism and highlighted the challenge he faces to keep a fractious coalition together.

With the ink barely dry on Wednesday’s cabinet appointments by the newly re-elected prime minister, deputy infrastructure and transport minister Dimitris Kammenos was asked to resign in a furor over offensive postings he was alleged to have made online.

Sep 22, 2015

Tsipras to back Greek bailout with Tsakalotos as finance minister

ATHENS (Reuters) – Greek Prime Minister Alexis Tsipras will reappoint Euclid Tsakalotos as finance minister, a senior source in his leftist Syriza party said on Tuesday, to offer continuity in bailout talks with international lenders.

Tsakalotos, a low-key Oxford-trained Marxist economist, helped steer bailout discussions with Greece’s creditors that produced an 86 billion euro loan accord with Athens in August.

Sep 22, 2015

Tsipras to back Greek bailout with Tsakalotos as finance minister

ATHENS (Reuters) – Greek Prime Minister Alexis Tsipras will reappoint Euclid Tsakalotos as finance minister, a senior source in his leftist Syriza party said on Tuesday, to offer continuity in bailout talks with international lenders.

Tsakalotos, a low-key Oxford-trained Marxist economist, helped steer bailout discussions with Greece’s creditors that produced an 86 billion euro loan accord with Athens in August.