Opposite directions

Opposite directions

ANGELOS STANGOS

It was less than a month ago that Prime Minister Alexis Tsipras said in an interview with Skai TV that whatever helps create jobs can be considered leftist policy.

His comment was interpreted as a change in direction, especially with regard to the country’s privatization program.

It was also seen as a message to his ministers and SYRIZA members.

It would perhaps be presumptuous at this stage to question how genuine Tsipras was being, but we can say with some confidence that if he was intending to deliver a message, the people who were its intended recipients have not received it yet.

There are very strong indications that this is the case. One example is Shipping Minister Theodoros Dritsas’s recent attempt to change the terms of the contract between Greece and Cosco for the Piraeus Port Authority (OLP).

This prompted other ministers to intervene to rectify the situation. Dritsas appeared to be moving in the opposite direction from the one marked out by Tsipras, even if it is very different to what he heralded when in opposition.

It appears Tsipras realizes that there has to be growth for there to be new jobs or that for there to be growth there has to be new private investment in Greece.

It is not at all clear that some of his ministers see things the same way. How they perceive growth and job creation is something of a mystery.

This raises the question of how the prime minister will proceed when the people he has appointed as ministers refuse or are unable to follow him along this new path.

This back-and-forth that is going on means that things are not progressing. Rather than being at a standstill, the country should be moving forward rapidly and escaping suffocation.

The failure to move forward does not just relate to issues that are linked to the economy.

The effort to strengthen statism and moves to create an impervious regime will not give the country a chance to breathe.

The same goes for the government’s tendency to show tolerance in the face of actions by self-styled anarchists, such as squatting, vandalism and attacks against the Church.

No economy can improve in such an environment.

At the moment, the prime minister appears to be following the strategy of letting all the flowers bloom, given that he displays tolerance and does not intervene to stop this instability.

He may be waiting for SYRIZA’s congress later this year in order to perform a clean up operation. His inaction so far, though, is not a very encouraging sign.

Cosco to clinch majority stake in Piraeus port ahead of further investment

Cosco to clinch majority stake in Piraeus port ahead of further investment

ILIAS BELLOSChinese giant Cosco is due to take on a majority stake in Piraeus Port Authority (OLP) on Wednesday concluding a process that began more than four years ago.

Representatives from Cosco, OLP and Greece’s privatization fund, the Hellenic Republic Asset Development Fund (TAIPED), are due to mark the occasion by sounding the opening bell for today’s trading session on the Athens Stock Exchange.

Cosco is due to pay 280.5 million euros to TAIPED to secure a 51 percent stake in OLP. It will also deposit another 88 million euros in an escrow account for another 16 percent in the company. The extra shares will be transferred when Cosco completes the investment it has committed to as part of the deal.

The firm has committed to investing almost 300 million euros in the port by 2020 before it can increase its holding in OLP. The majority of the amount in question is due to be spent on improving the infrastructure for cruise ships and passengers. The new owners also want to spend 55 million on upgrading the ship repairing facilities at the port.

The Chinese firm indicated in July, when Prime Minister Alexis Tsipras visited China, that it would invest 650 million euros, rather than the 350 million originally agreed, in Piraeus.

TAIPED will continue to own 23 percent of the port authority until the Chinese giant obtains the 16 percent share that has been set aside.

The new executive board is due to convene in the coming days. The new 11-member board is expected to be made up of seven Chinese and three Greeks. The mayor of Piraeus will retain his position on the board. The current chairman and vice chairman are also expected to remain.

It is expected that Cosco chairman Wan Min will be appointed chief executive officer (CEO), while the man who currently heads the Chinese firm’s subsidiary at the Piraeus container terminal, Captain Fu Cheng Qiu, will be made vice president and managing director.

Wednesday's transaction was cleared by the Greek Parliament on June 30, when 223 MPs voted in favor of the agreement that will see Cosco take over a majority stake in OLP and responsibility for the running of the port.

Next to Police, Bank Robbers Were Stealing for 2 Hours

Next to Police, Bank Robbers Were Stealing for 2 Hours 

A robbery like those you watch in the movies took place on Tuesday, August 9, in a Piraeus Bank branch in Athens. The robbers struck around 2:15pm and were in the branch for two hours right across from the Hellenic Police Attica Headquarters.

According to Greek police, four armed robbers, wearing silicone masks, came into the bank branch and after overpowering eight employees and five civilians, they took all the money from the cash registers, while they also forced open customers’ safety boxes.

The perpetrators remained inside the bank for more than two hours holding the employees hostage while the robbery was only made known to the police and the bank management after the robbers had left the building. According to the witnesses the four perpetrators had welding tools in their possession which they used to break into the safety boxes, causing extensive property damage.

It was estimated that the robbers stole around 60,000 euros in cash from the registers, as well as an undisclosed amount from the safety boxes that has not yet been estimated.

The police who has already studied the bank’s CCTV video is still investigating the robbery.

- See more at: http://greece.greekreporter.com/2016/08/10/robbery-athens-next-to-police/#sthash.BGBbutG0.dpuf

Elegant Evagelia in sexy swimsuit (video)

Elegant Evagelia in sexy swimsuit (video)

Going for a swim at Kalo Livadi

All eyes were glued on hot model and backstage presenter of reality TV show ‘X-Factor’, Evagelia Aravani when she went for a swim at Kalo Livadi in Mykonos. The beautiful model was wearing a one-piece swimsuit flaunting off her amazing figure. Mykonos Live TV was there and ‘capture’ the blonde beauty on video.

Hedge funds line up for cheap Greek businesses

Hedge funds line up for cheap Greek businesses

Greek companies under immense pressure

International hedge funds are vying for the acquisition of many Greek companies in the red and non-performing loans from Greek banks. Nearly 60bln Euros of non performing loans by Greek companies have drawn the attention of tens of hedge funds interested in taking advantage of the abysmal state of many domestic businesses. The hedge funds are adopting a cynical, yet legal approach, as they are trying to either directly buy out companies in dire straits or take control of their (companies’) non-performing loans to Greek banks. An increasing number of hedge funds are changing their stance lately, as they prefer to buy the companies in auction sell offs at a much cheaper cost, rather than deal with the companies’ ownership directly. Hedge funds consider the cost of a direct buyout extremely high given the large debts Greek businesses are carrying and the poor state of the domestic market. A characteristic example is the buyout of TRAINOSE by Italian group Ferrovie Dello Stato Italiane for a mere 45mln Euros, a price way below the train company’s equity. The recent changes in the bankruptcy law deriving from the 3rd memorandum has made it easier for foreign hedge funds to swoop in and take over, as it provides that the liquidation procedures for companies in financial duress are expedited. Meanwhile, bankers are also involved in the ongoing ‘struggle’, as credit funds are pressing Greek bankers to accept prices for the acquisition of non-performing loans at 20% of their nominal value, arguing the Greek bankers do not proceed with the deals in a speedy fashion.      

Loukoumades (Greek doughnuts) with honey and sesame

Go ahead and spoil yourself with this traditional Greek doughnuts recipe! We’ve decided to add agave nectar in the dough and give it a new twist! Top them with honey, sesame and cinnamon, maybe some chopped nuts if you like! Or drizzle them with chocolate sauce! Either way, they are simply irresistible!

Serves: 30 pieces Preparation time: 20m Cooks in: 10m Ready in: 30m

Ingredients

For the dough:
250g all-purpose flour
20g fresh yeast
120ml lukewarm water
120ml lukewarm milk
1 pinch of salt
25ml agave nectar
15g butter
1 egg yolk
vegetable oil for frying

For the garnish:
heated honey
cinnamon powder
toasted sesame seeds

Method

Step 1
Mix the milk, water, butter and yeast in a bowl. Make sure the yeast dissolves completely.

Step 2
Add the agave nectar, salt, egg yolk and flour -a little at a time- and whisk until the mixture becomes a smooth batter. Cover the bowl with plastic wrap and let the dough rest in a warm place for 1 hour, until it doubles in size.

Step 3
Into a medium sized pan pour enough vegetable oil and heat it to high heat until it begins to bubble.

Step 4
Dip a tablespoon in a glass of water and spoon out some dough into the pan. Repeat until the pan is comfortably filled. You need to dip the spoon in the water so that the batter doesn’t stick on it. Use a slotted spoon to turn them on all sides, until golden brown.

Step 5
Place the loukoumades on kitchen paper to drain for 2 minutes and then arrange them on a large platter. Drizzle with honey, sprinkle with cinnamon powder and sesame seeds and enjoy!

Two wildfires on Euboea island raging

Two wildfires on Euboea island raging

Karystos town evacuated

Wildfires are raging in two locations on the island of Euboea. A fire broke out in the area of Karystos, south of Chalkida in the morning hours of Tuesday, while a second blaze occurred at approximately 6 am, Tuesday in the area of Kymi. Strong winds of up to 8 knots have hampered the fire extinguishing operations on the Karystos front, as aerial means cannot contribute to the land units of 13 fire engines and 26 fire-fighters on the scene. The Mayor of Krystos, Eleftherios Raviolas told Skai TV that the town had been evacuated. 36 fire-fighters and 16 vehicles are trying to put out the Kymi wildfire, with 4 planes and a helicopter contributing to the efforts.