Caretaker Greek Cabinet, legislators sworn in

Elena Becatoros - Associated Press Writer

EUROKINISSI

ATHENS, Greece (AP) — Greece's caretaker Cabinet was sworn in Thursday and will lead the country into next month's election, after a deadlocked vote sparked more political turmoil and brought the country's use of the euro currency into question. The 16-member Cabinet was sworn in during a ceremony in the presidential mansion in Athens, followed by the swearing in of Parliament's 300

The Champion of Greek Outrage

By NICHOLAS GAGE NEW YORK. (New York Times). Throughout their history, Greeks in times of crisis have rushed to embrace charismatic demagogues like lemmings throwing themselves into the sea. After the death of Pericles during the Peloponnesian War, Athenians allowed his seductive nephew, Alcibiades, then 35, to talk them into wasting most of their remaining military resources on a disastrous expedition in

Greek Tremors Will Shake Global Economic Growth

LONDON — The world's four largest economies all grew in the first quarter of this year. But that doesn't mean the global economy is immune to a Greek meltdown. On the contrary, economic expansion in the U.S., China, Germany and Japan looks decidedly fragile and highly vulnerable if Greece exits the euro zone. Of course, Germany is the most obvious casualty, as it and other euro zone economies would suffer

RFK Jr.'s troubled estranged wife found dead in NY

JIM FITZGERALD,Associated Press BEDFORD, N.Y. (AP) — Mary Richardson Kennedy's life had both highlights and troubled moments, just like other members of the famous political family she married into in 1994. She was an architect who struggled with drug and alcohol abuse, and was the estranged wife of Robert Kennedy Jr. The 52-year-old mother of four was found dead

Greece’s exit may become the euro’s envy

By Arvind Subramanian LONDON. (FINANCIAL TIMES). Default will be disastrous for Greece and the resulting contagion would be damaging for Europe. So goes the conventional wisdom. The only debate has been about the strength of contagion and the appropriate response of vulnerable countries and of the cheque-writing country. Might the debate be misguided because the premise is flawed? Expelled from the eurozone, Greece might prove more dangerous to the system than it ever was inside it – by providing a model of successful recovery. There is an overlooked scenario in which default is not a disaster for Greece. If this is the case, the real, more existential threat to the eurozone might be a very different one, in which the Greeks have the last laugh. Consider that scenario. The immediate consequences of Greece leaving or being forced out of the eurozone would certainly be devastating. Capital flight would intensify, fuelling depreciation and inflation. All existing contracts would need to be redenominated and renegotiated, creating financial chaos.

Students Shine at Hellenic Times Scholarship Fund Gala in New York

Constantine S. Sirigos

NEW YORK – The 21st gala of the Hellenic Times Scholarship Fund (HTSF) was a thrilling sold out affair at the Marriot Marquis in Times Square on May 12, with dining, dancing and great musical entertainment the magnets for what many call the “Greek party of the year.” But singers Giannis Ploutarhos, Constantine Maroulis, Kalomira, disco divas Gloria Gaynor and Maxine Nightingale and honorees Dennis Mehiel and Mike Emanuel were not the only stars of the stage. The 34 scholarship recipients, young Greek-American high achievers from all across America, adorned the stage throughout the nice and shone just as brightly, filling the ballroom with Hellenic pride.

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Panelists Examine the Myths, Realities of Greece’s Economic Crisis

The American Hellenic Institute (AHI) hosted the policy seminar “The Greek Economic Crisis: Myth & Reality” featuring a panel of experts who examined various aspects of the topic on April 25, 2012 at the Capital Hilton, Washington, DC. Ambassador Vassilis Kaskarelis, ambassador of Greece to the U.S., provided closing remarks and participated in a Q&A with the audience.

Hellenic/Holy Cross Plans to Honor Behrakis

Theodore Kalmoukos

Hellenic College – Holy Cross Greek Orthodox School of Theology will honor businessman and philanthropist George Behrakis by presenting him with an honorary degree at the 75th Commencement Ceremonies on May 19 for his long and valuable services and contributions to the School and the Church.

TNH File Photo

Marathon Bank in New York for Sale by Greek Owner

By Matthew Monks American Banker Piraeus Bank, a large Greek bank reeling from the country's ongoing debt woes, is selling Marathon Bank of New York, a 13-branch ethnic bank in Queens expected to fetch $90 million to $140 million, industry sources say. Piraeus has hired KBW's Keefe, Bruyette & Woods (KBW) to shop the nearly $900 million-asset Marathon, which Piraeus has owned since 1999, said one of four sources that declined to be identified because the process is private. KBW began soliciting bids in recent weeks for Marathon, which is a healthy — if not extremely profitable — bank. The bank caters to the large number of Greeks that live in Astoria, N.Y., where it is based. Among the companies with operations around New York City that have expressed interest in Marathon: People's United Financial in Bridgeport, Conn. (PBCT); New York Community Bancorp (NYB) in Westbury, N.Y., and Investors Bancorp (ISBC) in Short Hills, N.J., sources say.

HTSF Gala Honors Fox News Channel’s Mike Emanuel on May 12

Constantine S. Sirigos

When even the players in places like Congress are puzzled and anxious, citizens rely on seasoned reporters like Mike Emanuel to tell them the score. Emanuel, who broke into broadcasting as a sportscaster at Rutgers University, is a MVP himself, and on May 12 at the Hellenic Times Scholarship Fund (HTSF) Gala at the Marriot Marquis hotel in Manhattan he will receive the Humanitarian Media Achievement award.

Costas Bej/TNH

Cyprus-US Chamber of Commerce Honors Noble Energy CEO Davidson

TNH staff

The Cyprus-U.S. Chamber of Commerce held is Annual Awards Dinner at the Hilton New York in Manhattan on May 3. Charlie “Chuck” Davidson, the CEO of Noble Energy, which discovered a huge natural gas field in Cyprus’ Exclusive Economic Zone (EEZ) was presented the Chamber’s 2012 Distinguished Merit Award.

Costas Bej/TNH

Cyprus-US Chamber Hosts Geopolitical and Economic Conference in NY

Constantine S. Sirigos

The Cyprus-U.S. Chamber of Commerce hosted a panel discussion at the Hilton New York titled “Geopolitical and Economic Developments in Cyprus – How can you benefit?” The event preceded the Chamber’s Annual Awards Dinner, which will from now on be complemented by pre-dinner conferences.

TNH File Photo

Missouri Calls for Patriarch’s Full Rights in Turkey

The Missouri House of Representatives has taken a strong stand for religious freedom by calling on the government of Turkey to guarantee full religious and human rights for the Ecumenical Patriarch and all religious minorities.{47860} With the adoption on May 1 of House Resolution 1365, sponsored by Rep. Kurt Bahr, Missouri joins 40 other states in which the Legislatures have expressed support for the Patriarch’s rights.

At MMA, Cycladic Art of Athens Presents: Greek Islands off the Beaten Track

TNH staff

“Greek Islands off the Beaten Track” was the topic of the archaeological lecture presented on May 4 at the Metropolitan Museum of Art (MMA) by Professor Nicholas Stampolidis, Director of the Museum of Cycladic Art of Athens, assisted by Sondra Marinopoulos, the president of the Goulandris Foundation.

TNH File Photo

Chicago’s Greeks and Jews Alike Watch the Mediterranean Realignment

David Kashi Medill Reports – Northwestern University

A century ago, so many Greeks were arriving in Chicago that Hull House hired someone who spoke the language to learn their stories. Businesses run by Greeks were popping up west of the Loop in what is now Greektown and the UIC campus. But the Jews found Chicago first, coming steadily from the 1840s onward. What both groups have in common is a strong bond for their homelands – Greeks frequently sending money home to family members and buying land, Jews supporting the efforts to create a Jewish homeland in the Middle East and supporting Israel since its creation.

Steve Katovis, Martyr Laborer, Killed by a Policeman While on Picket Line

Steve Frangos

CHICAGO, IL – With growing reports of civil disturbances and massive demonstrations spontaneously erupting around the world, this latest series of conflicts between the rich and poor has once again brought that issue to the very center of the world stage. As the world's masses resist the continuing efforts of the wealthy ruling class to subjugate them, we find that Greeks are again among the leading dissenters.

The Date That Almost Was

Phyllis (Kiki) Sembos

I worked at a bank on Forty-Third and Eighth Avenue as a bookkeeper. I liked my work and, the best part: I could get personal calls on the phone on my desk. I was waiting for a call from a guy I met at Saturday’s Kastorian Society dance at the Hotel New Yorker. He sure was cute! He was Kastorian, which meant he was, probably, a furrier. I wasn’t going to have him call my house. I’d done that before with disastrous results.

Vitamin D, a panoply for health defense

Dr. Frixos O. Goussis

Dr. Frixos O. Goussis MD,FACP,FACE. A Professor of medicine and Senior Attending physician at St Francis Hospital Heart center in Great Neck, NY, Dr. Goussis explains about the health benefits of Vitamin D in this special article for TNH

TNH File Photo

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Downer: Multilateral conference still on the table

Cyprus News Agency

UN Secretary General`s Special Adviser on Cyprus Alexander Downer has said that the issue of holding a multilateral conference on the Cyprus problem during the summer is still on the table.

Turkey shows renewed interest in EU bid

The Associated Press

ANKARA, Turkey (AP) — Turkey is showing renewed interest in reviving its stalled bid to join the European Union, now that one of its key opponents is no longer the president of France. Turkey began its EU accession negotiations in 2005 but made little progress in its candidacy, thanks to a dispute with EU-member Cyprus and opposition from French President Nicolas Sarkozy to Turkey's membership. Sarkozy argued that the predominantly Muslim country is not a part of Europe and wanted Turkey to accept some kind of a special partnership with the EU instead of full membership — an offer Turkey rejected.

Jewish group wants Europe to tackle far right

The Associated Press

PRAGUE (AP) — The head of a major European Jewish group says his organization is urging European governments to quickly adopt measures to tackle anti-Semitism and the threat of a growing far right. Moshe Kantor, president of the European Jewish Congress, was meeting with Czech Prime Minister Petr Necas on Wednesday to seek his support for "emergency measures" to protect European Jewish communities from violent hate crimes.

Omonia Nicosia beats AEL Limassol, wins Cyprus Cup

The Associated Press

Players of Omonia Nicosia hold the trophy as they celebrate their victory against AEL Limassol during the final cup soccer match at GSP stadium in Nicosia, Cyprus, Wednesday, May 16, 2012.

Ninis keeps Panathinaikos top in Greek playoffs

The Associated Press

Panathinaikos is on course for a Champions League qualifying spot after beating Atromitos 1-0 in the Greek league playoffs on Wednesday from Sotiris Ninis' second-half goal.

Greece: Business blasts 'undertaker' politicians

ATHENS, Greece (AP) — The head of a major Greek business organization has lashed out at the country's politicians for failing to form a coalition government and triggering new elections, accusing them of acting like "undertakers" A national retail association leader Vassilis Korkidis said Wednesday that Greek party leaders had failed to act responsibly, threatening to

Singapore Air halts Greece, Abu Dhabi flights

The Associated Press

SINGAPORE (AP) — Singapore Airlines Ltd. says it will cancel its flights to Greece and Abu Dhabi because of weak passenger demand. The carrier said in a statement Wednesday that its two weekly flights to Athens and three flights to Abu Dhabi will end Oct. 26.

Rajoy warns Spain faces lock-out from markets

Ciaran Giles - The Associated Press

A man is seen in front of a bank after a demonstration against the banks in Barcelona, Spain, Tuesday, May 15, 2012. Spain got caught up in the uncertainty surrounding the European single currency and the electoral stalemate in Greece Monday as it saw its borrowing costs rise and stock prices fall at alarming rates.

Monti faces renewed pressure to speed reforms

The Associated Press

People enter Equitalia tax collection agency headquarters in Milan, Italy, Wednesday, May 16, 2012. For the Italian entrepreneur whose business and marriage were falling apart, a tax bill was the last straw. Armed with a shotgun and two revolvers, Luigi Martinelli took 15 hostages at a government tax office last week, demanding only that his story be heard. Italy has largely been spared the mass protests that have gripped Greece and Spain, but economic agony is starting to bite here as well. A spate of suicides by businessmen has called attention to the crisis. Mario Monti, hailed as a savior in November when he was named premier to tackle Italy's financial crisis, is feeling the sting himself as he comes under attack from all sides — variously described as a cold-hearted economist, a slave to the banks or a softie lacking the courage to push harder with reforms.

Noonan: Rejecting EU treaty dangerous for Ireland

The Associated Press

A government poster urging voters to back Europe's fiscal treaty looms over traffic and pedestrians outside Trinity College in central Dublin, Ireland, on Monday, April 30, 2012. Voters must decide May 31 whether to support the treaty and its tougher budget rules. Rejection could block Ireland from receiving further EU loans in 2013, a prospect that Ireland's government says must be avoided at all costs.

Draghi: Greece should stay in euro

The Associated Press

FRANKFURT, Germany (AP) — The head of the European Central Bank says its "strong preference" is for Greece to stay in the euro. Mario Draghi made the remarks in a speech at a conference Wednesday in Frankfurt. Draghi said that the matter is not for the ECB to decide, since the EU basic treaty does not provide for a country leaving the euro.

Olympiakos beats CSKA Moscow in Euroleague final

Olympiakos erased a 19-point deficit in the second half to win the Euroleague final with a 62-61 victory over CSKA Moscow on Sunday.

Greece: 2 held in brutal attack on Dutch retiree

The Associated Press

ATHENS, Greece (AP) — Police in southern Greece have arrested two local men suspected of an apparently random xenophobic attack on an elderly Dutchman walking his dogs on a beach. A police statement says the 78-year-old retired engineer, a local resident for 17 years, was severely injured Sunday near the mediaeval town of Monemvasia, a tourist attraction.

Report: Car of EU Greece task force chief attacked

The Associated Press

In this Dec 15 2011 file pictureGerman Horst Reichenbach, head of Task Force for Greece of the European Commission arrives at the Prime's minister office prior his meeting with Greek Premier Lucas Papademos in Athens. German prosecutors say a car belonging to the head of a European Union task force for Greece has been destroyed in an apparent arson attack.The dapd news agency reports that an unknown group calling itself "Loukanikos" has claimed responsibility for the attack Monday. Dapd news agency cited the prosecutors' office in Potsdam saying Tuesday May 15, 2012 that Loukanikos is also the name of a stray dog frequently seen at political protests in Athens. German radio station RBB reports that bags of paint were also thrown at the house of Horst Reichenbach west of the capital Berlin. Reichenbach leads an EU task force meant to assist Greece in making painful structural reforms as part of a deal to revive its ailing economy

European travel groups prepare for Greek euro exit

The Associated Press

BERLIN (AP) — European travel companies are planning for a possible Greek exit from the eurozone, as the country's political leaders gave up trying to forge a government Tuesday and announced fresh elections for June. British travel firm Thomas Cook Group said Tuesday that while Greece remains a "great value" for holidaymakers, the company is working closely with hotels and other suppliers to position itself for a possible euro exit. "We believe there are positives and negatives for the travel industry in the event that Greece were to leave the Euro," it said.

Hollande, Merkel pledge to seek growth for Europe

Geir Moulson - The Associated Press

German Chancellor Angela Merkel, right, and the President of France, Francois Hollande, left, address the media after a meeting at the chancellery in Berlin, Germany, Tuesday, May 15, 2012. Both leaders agreed Tuesday to spend the coming weeks discussing proposals for generating economic growth in Europe, a first step to bridging their differences over how to tackle the eurozone debt crisis.

Greek far right party blasted on Holocaust comment

In this Thursday April 26, 2012 photo Giorgos Germanis, a candidate of extreme far-right Golden Dawn party speaks during a interview with The Associated Press next to a banner with the twisting Maeander, an ancient Greek decorative motif that the party has adopted as its symbol, in the suburban town of Artemis, 25 kilometers (15 miles) east of Athens.

Greece to head to polls again after talks collapse

Elena Becatoros and Nicholas Paphitis - The Associated Press

People walk outside the Greek parliament on Tuesday, May 15, 2012. Greece is headed for another month of political paralysis ahead of new elections in mid-June, after party leaders on Tuesday failed to reach an agreement to build a coalition government. The protracted deadlock and the prospect of an anti-austerity party winning the new vote hammered Europe's markets on fears that the debt-crippled country could be forced out of the European single currency, triggering shock-waves throughout the 17-country eurozone.

In about-face, Greece to pay May 15 bond swap holdouts

Renee Maltezou - Reuters

(Reuters) - Greece made a last-minute decision on Tuesday to pay bondholders who refused to accept a debt restructuring, a move that may set a precedent and infuriate creditors who accepted just cents on the euro for their investment in a historic bond swap. In an about-face, Greece opted to pay holders of 430 million euros ($552 million) of a May 15 bond, despite having told those who took its bond swap offer in March that they would otherwise get nothing, government officials told Reuters on Tuesday. The decision averts litigation by the bondholders, and will infuriate the 96.9 percent of creditors, mainly European banks, who agreed to take the deal.

Francois Hollande becomes France's new president

The Associated Press

New President Francois Hollande and his companion Valerie Trierwieler leave the Elysee Palace, Tuesday, May 15, 2012 in Paris. Hollande became president of France on Tuesday in a ceremony steeped in tradition, taking over a country worried about Europe's future and pledging to make it a fairer place.

Greek, European woe could cause problems for US

WASHINGTON (AP) — A plummeting euro may make it harder for American companies to sell goods overseas. Credit could be tightened. These are some of the potential complications of a European debt crisis that risks spiraling out of control. And in today's interconnected global economy, Greece's troubles could over time become a headache for all of Europe and by extension, the rest of the world. That includes President Barack Obama as he faces an already difficult re-election bid this year.

Spain says bank audit ready in 2 months

Ciaran Giles - The Associated Press

MADRID (AP) — Spain's economy minister says an independent audit of Spanish banks' debts should be ready within two months. Spain last week announced two external audits as part of its latest financial sector reform. The measures are aimed at restoring confidence in a sector at the heart of the country's financial crisis.

Greek negotiations over govt to continue

Nicholas Paphitis - The Associated Press

From left to right. Leader of the Democratic Left party Fotis Kouvelis, leader of Conservatives New Democracy party Antonis Samaras, Greek President Karolos Papoulias and head of Socialist PASOK party Evangelos Venizelos, meet in Athens May 14, 2012. Greece's president met party leaders on Sunday in a final bid to cobble together a coalition and avert a repeat election.

Fear grows of Greece leaving euro

Pedestrians pass a plaque portraying a Greek one-drachma coin, which was replaced by the euro in 2002, outside Athens City Hall, on Monday, May 14, 2012. Greek party leaders are to resume power-sharing talks Monday as negotiations to create a government drag into a second week, raising the specter of fresh elections that could threaten the crisis-stricken country's international bailout and its membership of the euro.

Merkel: election defeat not a problem in Europe

Geir Moulson - The Associated Press

BERLIN (AP) — German Chancellor Angela Merkel insisted Monday that a heavy state election defeat for her party won't weaken her as she grapples with Europe's deepening debt crisis. Facing an emboldened opposition at home as a national vote looms next year, Merkel made clear that she was sticking to her emphasis on budget discipline. However, she said "no one on our side has anything against growth."

Euro minsters plead with Greece to stay the course

Raf Casert

President of the European Central Bank Mario Draghi, center, gestures, as he talks with Italy's Prime and Finance Minister Mario Monti, left, and Luxembourg's Prime Minister and chairman of the Eurogroup, Jean-Claude Juncker, during the Eurogroup ministerial meeting at the European Council building in Brussels, Monday, May 14, 2012.

Spain urges Greece to form government fast

Ciaran Giles - The Associated Press

Riot police stand guard in front of a branch of the recently nationalized bank during a protest in Madrid, Spain, Monday, May 14, 2012. Prime Minister Mariano Rajoy on Sunday defended his government's harsh austerity measures aimed at correcting Spain's grim economic forecast, one day after tens of thousands of Spaniards took to the streets to protest his handling of the country's worst crisis in decades. The country's foreign minister issued an urgent appeal Monday to the rival political parties in Athens to form a government quickly and warned that the survival of the single currency project was at stake.

First on agenda for new French leader? Woo Germany

Sarah DiLorenzo - The Associated Press

PARIS (AP) — Just hours after Francois Hollande is sworn in Tuesday as France's next president, he will head to Germany, underscoring the importance of the German-French relationship at the core of finding a solution to Europe's debt crisis. Hollande has demanded that the fiscal treaty that brought an uneasy calm to markets by cracking down on overspending be renegotiated to include growth measures. Germany is cool to the idea. The fate of the eurozone may rest on whether he and Chancellor Angela Merkel can find a compromise.

Cyprus president says he won't run for 2nd term

Menelaos Hadjicostis - Associated Press

Cyprus President Demetris Christofias says he will not seek re-election for a second term because there is little hope that long-running talks with breakaway Turkish Cypriots to reunify the ethnically split island will succeed when his tenure expires in February next year.

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