Tag Archives: Greece

Preliminary 6.1-Magnitude Earthquake Strikes Greek Island; At Least 1 Dead

A strong earthquake with at least a preliminary magnitude of 6.1 struck the western Greek island of Lefkada on Tuesday, and an hour later, a 5.2-magnitude aftershock struck the area.

Different organizations are reporting different magnitude readings at this time. The Athens Geodynamic Institute told the Associated Press that the preliminary magnitude was 6.1 and that the quake struck at 9:10 a.m. The U.S. Geological Survey reported that the preliminary magnitude was 6.5. Different agencies will usually have different readings hours and days after the quake, according to the Associated Press. Despite the lack of an official magnitude, residents in neighboring islands and even in Athens – 186 miles east of the island – felt the tremors.

Local officials stated that there has been at least one death. An elderly woman was killed after her house collapsed under a falling rock. Local residents told Reuters that another elderly woman was killed in a stable in a mountain village, but Greek police have not confirmed the second death. However, other news sources including the Washington Post have confirmed the second death.

The Christian Science Monitor reports that Greek officials are having a hard time assessing the damage because of landslides that are blocking roads. The Vassiliki harbor is also partially submerged due to the quake.

Other damages include several badly damaged houses and government buildings. Schools closed down in order for authorities to assess the safety of the buildings.

Earthquakes are common in Greece according to multiple news agencies. The Ionian Sea located to the west of Greece, is one of most seismically active areas of the world.

EU Leaders Vow to Increase Capacity at Migrant Summit

European Union (EU) leaders gathered in Brussels to handle the European refugee crisis, resulting in an additional 100,000 refugees to be welcomed into Greece and the western Balkans.

According to BBC News, the new agreement between the 11 EU countries and the three non-EU states will have Greece opening up its country to an additional 30,000 refugees by the end of the year. Just within the last week, Greece has seen 9,000 refugees a day enter its borders, which is the highest rate so far in 2015. The Associated Press reported that the United Nations will be providing capacity for 20,000 more.

The meeting was held to find a plan of action before the winter months set in, leaving thousands of refugees in camps and out in the open in soon-to-be freezing temperatures.

EU Commission President Jean-Claude Juncker conducted an interview with German newspaper Bild am Sonntag saying: “Every day counts…otherwise we will soon see families in cold rivers in the Balkans perish miserably.

“The challenge now is to slow down the flow of migration and to bring our external borders under control. We must also make it clear that people who arrive at our borders who are not looking for international protection have no right to enter the EU,” he added.

“As winter looms, the sight of thousands of refugees sleeping rough as they make their way through Europe represents a damning indictment of the European Union’s failure to offer a forward thinking and coordinated response to the refugee crisis,” John Dalhuisen, Amnesty International director of Europe and Central Asia, told USA Today.

“The EU has the mechanisms and, collectively, the money to ensure adequate reception conditions to all arriving refugees and migrants; these must be used to end the march of misery being endured by hundreds of thousands of refugees and migrants,” he added.

The summit was conducted with the current world leaders of Austria, Croatia, Macedonia, Germany, Bulgaria, Serbia, Hungary, Greece, and Slovenia present.

Due to the conflicts in Syria, Iraq, Eritrea, and Afghanistan, over 680,000 refugees have escaped the areas and came to Europe by sea this year, according to USA Today.

Greece Must Implement Terms of EU Bailout Quickly

Newly re-elected, left wing Prime Minister of Greece, Alexis Tsipras announced that Greece must “quickly implement” the terms of the EU bailout agreed upon in July. During  his first Cabinet meeting, Tsipras stressed that his aim is to have steered the country out of its crisis by 2019 when his four-year mandate ends.

“We are aware of the difficult points of the deal… we know how to find the right antidote where there are side effects,” Tsipras said today. “This mandate is translated into one word; work.”

A review by the lenders will be conducted in late October to determine if the reform program has been implemented.   

Tsipras highlighted another crisis for his country, saying that  the government’s task was made into an even greater challenge by Europe’s migrant flows.

Greece has become the main point of entry into Europe for those fleeing war and poverty in the Syria and war torn Africa, most of whom then head by land to richer EU countries further north.

Russia Admits Military Experts in Syria

The Russian government stopped denying they have troops in Syria.

The statement comes one day after the United States asked nations like Bulgaria and Greece to close their airspace to Russian military transports. Bulgaria agreed to the U.S. request but Greece did not publicly respond to the request.

Foreign Ministry spokeswoman Maria Zakharova confirmed “advisors” are assisting with deliveries of Russian arms.  The Russian government is claiming the mission of the forces is just to assist the Syrian army in fighting militants.

However, U.S. officials say that Russian transports are also arriving with passenger flights that contain Russian troops putting together a forward base in Syria.

“Any effort to bolster the Assad regime would potentially be destabilizing,” the U.S. State Department said.

Russia has long considered Syrian President Bashir al-Assad a close ally.

Hungary Sending Troops to Stop Migrants at Border

Hungarian officials are rushing military troops to their border to try and stop a massive wave of migrants attempting to escape the violence of the Middle East and Asia.

Hungarian officials said that a record 2,533 migrants were arrested attempting to enter the country on Tuesday.  Most of them were from Syria, Pakistan or Afghanistan.

Officials are calling the situation the worst migrant crisis since the second World War and Hungary is attempting to quickly build a 110 mile border fence with razor wire to stop the illegal immigration.

“Hungary’s government and national security cabinet … has discussed the question of how the army could be used to help protect Hungary’s border and the EU’s border,” government spokesman Zoltan Kovacs told reporters.

The move by Hungary is coming under criticism from Germany and France.  The German and French governments are working to put together a comprehensive plan for all nations across Europe to accept migrants, but Hungary’s actions are countering the proposed actions.

Other nations are also overwhelmed.  Greece, which is in the midst of financial crisis unlike any other in the nation’s history, has been burdened with 50,000 migrants in just the month of July.

Greek Prime Minister Resigns

The economic crisis in Greek has forced the nation’s prime minister to resign.

Greek Prime Minister Alexis Tsipras announced he will resign and call for new national elections in September.  The move is seen as an attempt to thwart more radical members of his own party from stopping the economic reforms that were required as part of the nation’s latest bailout package.

“I am resigning because I have now exhausted the mandate which the public gave me in January’s general election,” Tsipras said in a national address.  “You will judge us, the ones that promoted the drachma pathway and the ones that served the old system.”

While some government sources are saying the elections would take place on September 20th, Tsipras did not give a specific date in his national address.

Opinion polls show that Tsipras is the current favorite to regain his position as PM.

In the interim, the nation’s first female PM will take over on a temporary basis.  Vassiliki Thanou-Christophilou, the President of the Supreme Court of Greece, will be in charge of the government until a new PM is chosen.

The announcement had an immediate impact on the nation’s economy, as Greek bonds suffered an immediate drop.

Greek PM Trying To Rally Party Before Key Vote

Greek Prime Minister Alexis Tsipras is attempting to rally his party to gain enough support to pass the second round of key reforms to guarantee a bailout from the European Union (EU) and the International Monetary Fund (IMF).

The rebellion in Parliament is coming from Tsipras’ own Syriza party, who were elected on a platform of not giving in to European demands for more austerity measures.  Tsipras fought the austerity measures for a significant amount of time before admitting some measures needed to be taken to help Greece turn around their economy.

“We are making an effort to have fewer dissenters,” Health Minister Panagiotis Kouroumplis told Greek TV.

The first vote took place on austerity measures while this second vote is more about procedural operations such as a code of civil protection aimed at speeding up court cases;  the adoption of an EU directive to bolster banks and protect savers’ deposits of less than €100,000 and the introduction of rules that would see bank shareholders and creditors – not taxpayers – cover costs of a failed bank.

The issues that caused most division such as phasing out early retirement were removed from the second round of voting and move to an August vote.

The vote is expected to pass thanks to support from the opposition parties in the Parliament.

Greece Passes Austerity Measures

The Greek parliament overwhelmingly passed austerity measures that are extremely unpopular with the Greek citizens by a vote of 229 to 64.

The measures approved by the Parliament include raising taxes and cutting pensions.  The measure passed because of the votes of the opposition parties as the prime minister’s ruling Syriza party mostly voted against the measure.

Syriza had ran for parliament on a platform of not accepting any more austerity measures.  Party Speaker Zoe Constantopoulou said the deal was “social genocide.”

Prime Minister Alexis Tsipras said the deal was the best he could get from the European Union and the country’s creditors.

The vote brought immediate action from the European Central Bank (ECB) which increased emergency funding for Greek banks by 900 million Euro for one week.

ECB President Mario Draghi said the bank’s total exposure to Greece totals 130 billion Euro.

“It’s uncontroversial that debt relief is necessary and I think that nobody has ever disputed that,” Mr Draghi told the BBC.  “The issue is what is the best form of debt relief within our framework, within our legal institutional framework. I think we should focus on this point in the coming weeks.”

Greek Finance Minister Resigns Ahead of Bailout Vote

Greece’s Finance Minister, Nadia Valavani, has resigned her position after telling Prime Minister Alexis Tsipras that she couldn’t support the bailout measures.

“Alexis, I am ready to serve in any capacity to the end during challenges. However, when our delegation returned with liabilities that are ‘stillborn measures’ and at such a price [by the creditors in fulfilling the reforms program], once again when the dilemma appears of retreating or Grexit, it will be impossible for me to remain a member of the government,” reads Valavani’s letter of resignation.

This ‘capitulation’ is so overwhelming that it will not allow a regrouping of forces. With your signature there will be a deterioration in the status of an already suffering population, and this will be a tombstone around their necks for many years with little potential of redemption,” she wrote.

Valavani was in charge of taxation and overseeing privatization in the nation.

The International Monetary Fund (IMF) expanded on initial criticisms offered Tuesday of the deal between Tsipras and EU officials, saying that Greece’s debts now exceed $300 billion and that creditors will have to write off some of the debt if there is any hope of Greece repaying what it owes.

The European Commission has been critical of giving more money to Greece than what is already being offered.

“Greece has already received more international financing than all of Europe did from the U.S. Marshall Plan after the Second World War,” Commission President Jean-Claude Juncker said.

Greece’s energy minister, Panagiotis Lafazanis, said Wednesday that even if the deal passes the Parliament, the country’s people will never accept it and unite against it.

Greece PM Fighting With Own Parliament Over Bailout Deal

While much of the world celebrated a bailout deal that would keep Greece from entering into bankruptcy and a forced exit from the Euro, the country’s Prime Minister found himself facing a hostile and combative Parliament.

Greece’s PM Alexis Tsipras spent all day Tuesday in contentious meetings with his own party’s members of parliament and the conflict was so severe it was possible he would need to form a new national unity government to get the bailout passed for the nation.

The deal is critical for the nation as they missed a second debt repayment to the International Monetary Fund (IMF) putting them further behind in their debt load.

Over 2 million euro are owned to the IMF by Greece as of Monday.

The nation’s banks have been closed since June 29th and without the deal there is no indication when they could re-open.  Heavy restrictions on ATM transactions remain in place.

The IMF surprised many observers today by releasing a report on the bailout agreement stating the country needs “massively more” debt relief than admitted by eurozone officials.

“The dramatic deterioration in debt sustainability points to the need for debt relief on a scale that would need to go well beyond what has been under consideration to date – and what has been proposed by the ESM,” the IMF stated.