Wednesday, December 31, 2014

China wants to win global railway market – Tiroler Tageszeitung Online

China wants to win global railway market – Tiroler Tageszeitung Online

Beijing (APA / dpa) – Now they are no longer each other’s way. With a mega-merger, the two largest Chinese Zugbauer CNR and CSR join forces for world’s biggest train maker, is to provide Siemens and Co. forehead. The Iron Giant China has not only cost-effective technology, but delivers through the state and the necessary funding needed packages.

Most recently, China’s Premier Li Keqiang at the summit of the Eastern and Southern European countries in mid-December in Belgrade Chinese Railways promoted – as used previously in other foreign trips. Everywhere loans are available. In Southeast Asia, Africa and Latin America, the Chinese railway industry is active.

rail links with Chinese technology, finance and engineering are important elements of the new Chinese monetary diplomacy, with billions of loans abroad new infrastructure projects or economic corridors such as the “new advance Silk Road “from China to Europe. The merger of the two Zugbauer is a further step in this strategy, which China wants to develop new markets

The two Chinese state-owned enterprises had international ruinous competition supplied -. Such as when applying for major projects in Turkey or in Argentina. “The new group will have a clear advantage over their global rivals by being able to optimize the technological advantage, human capital and production capacity,” Wang Mengshu said of China Academy of Engineering of the newspaper “China Daily”.

The domestic market is not rising as fast. The capacities are large. As new markets must be found. A billion deal in Mexico burst in November because of a lack of transparency in the tendering. But CNR won in October in Boston a 567 million US dollar contract for the local subway – the first for a Chinese manufacturer in the United States. China’s railway workers want to also supply trains for large high-speed network, the state of California passed over 1287 km in the eye.

China also plans to Brazil and Peru to help in its ambitious project, a 4,500 km long connecting the Pacific to build the Atlantic. Chinese state-owned banks and multi-billion dollar infrastructure fund can offer necessary financing for such projects. Conceivable future also credits the Development Bank of the BRICS countries, China has established together with Brazil, Russia, India and South Africa, or of the new Asian Infrastructure Bank (aIIb), which also relies on China’s billion.

To succeed globally, large corporations are needed. “While China’s economy to a” new normal “occurs, the central government is keen to provide greater international brands of its advanced industries such as railway equipment and communications to ensure a high-quality growth,” Zhang Ji said of the Foreign Department of Commerce Department the “China Daily” overlooking the braked economic growth and the desired structural change.

In order to create global market size, China’s leadership looks around in other industries such as aviation. Modeled after the railway merger, there are discussions about a merger of the two major state-owned aircraft manufacturer Avic and Comac, like a Chinese source of the German Press Agency in Beijing reported.

Comac builds considerable delay and high levels of investment in a Regionaljet and greater passenger plane to make Airbus and Boeing competition. “The government is losing patience,” the person who is familiar with the internal deliberations said. Avic had been asked to take Comac. “A merger is expected to increase efficiency and create a powerful group.”

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Greek parliament officially dissolved – started the election campaign – FAZ – Frankfurter Allgemeine Zeitung

Greek parliament officially dissolved – started the election campaign – FAZ – Frankfurter Allgemeine Zeitung

                              

 
 
     
     
     
         
         
                                                             

ATHENS (Reuters) – The Greek parliament has been officially dissolved on Wednesday. The corresponding presidential decree was logged in the morning in Parliament, as state television reported. It is considered the date of early elections – as already announced by the Government – January 25 called

Polls show a projection of the Left Party Coalition of the Radical Left (SYRIZA) Alexis Tsipras.. This aims at a renegotiation of the Greek consolidation program and a haircut. The bourgeois New Democracy (ND) under the incumbent head of government Samaras has, however, caught up in the past few days, according to pollsters. The projection of SYRIZA has shrunk by about seven percentage points in November to three or four points.

The new election must be called after the candidate of the government for president, the conservative former EU Commissioner Stavros Dimas (73 ), had not received on Monday in Parliament and at the third attempt the required majority. / dd / DP / stk

                                                                             
 
  

 
 
 
                       
New crisis fear Greek Get billion from the accounts

Before the elections Greece promises the left Greek politician Alexis Tsipras that he seeks a haircut. The Greeks, however, are afraid of a new crisis – and run to the ATM. More

31.12.2014, 15:00 clock | Economy

Greece Ex-Commissioner Dimas failed again

The left opposition leader, Alexis Tsipras, has apparently not voted in the affirmative. In the second attempt the Conservative candidate Stavros Dimas is not elected by the parliament in Athens President More

12/23/2014, 15:11 clock | Politics

Greece Last run for the election of a president

He is the only candidate – and could yet again fall through. Stavros Dimas gets in the third ballot no majority, the Greek Parliament will be dissolved. A new election could bring a leftist coalition to power More

29.12.2014, 11:33 am Clock |. Policy

Elections in Greece failed with message

The election crashes Greece in a period of political and economic
 Instability. For this, the government is responsible – but also the international troika.
 
More From Rainer Hermann

29.12.2014, 20:09 clock | Politics

     
     
     

 

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Mega-merger of China’s train manufacturers CNR and CSR want to conquer the world market – n-tv.de NEWS

Mega-merger of China's train manufacturers CNR and CSR want to conquer the world market – n-tv.de NEWS

business
 


 Wednesday, December 31, 2014

 
 
 


 
 The railway business in China dominate the two manufacturers CNR and CSR. Now merge the companies. Together they can on the world market companies such as Siemens and Bombardier defy.

 


 

The two largest Chinese train manufacturers have teamed up to compete on the world market against rivals such as Siemens and Bombardier. The mega-merger between China CNR and CSR was announced on the night.

Its shares rose prelude to trading in Hong Kong steeply. Both had last market value of the equivalent of around 21 billion euros.

The merger was to “create a new cross-border and global leader in high-quality web design”, quotes the Xinhua News Agency made an announcement on the Shanghai Stock Exchange.

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In the exploration of the world market so you should also “grave wars” between the two manufacturers of high-speed trains are avoided.

The Chinese National rail industry was only in 2000 divided into the two manufacturers to promote competition. Both are listed in Shanghai and Hong Kong in the stock market and join now together through a share swap.

In addition to the high-speed train both produce 80 percent of freight trains and most subways China.

  Source: n-tv.de
 


 
 
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Before elections – Worried Greeks get 2.5 billion euros from the account – Süddeutsche.de

Before elections – Worried Greeks get 2.5 billion euros from the account – Süddeutsche.de

  • In December Greeks have raised 2.5 billion euros of accounts. They are concerned about the economic and political situation in their country.
  • On January 25 will be elected in Greece. The alliance of the link parties is according to polls in the lead.

Greeks raise 2.5 billion euros in December from

For fear of political and economic turmoil in December many savers and companies a total of 2.5 billion euros in Greece brought from their bank accounts.

This is unusual and only can be explained by the fact that the citizens are very worried, given the early elections on January 25, reported the conservative Athens newspaper Kathimerini on Wednesday. A mini-capital flight started in November with 200 million euros minus, it said. A run on the banks be it according to estimates by experts not unique. However, the development show the concerns of citizens, it said in the report.

On Monday, the director of a bank branch had said in the Athens suburb of Peristeri Deutsche Presse-Agentur, you’ll go very carefully, especially at ATMs ago : This by no means a “bank run”, ie a stampede is on the banks triggered, the Institute made sure that all the devices are sufficiently stocked with money

Left Party alliance is according to polls in the lead. ” / h3>

The election of a new Greek President had failed on Monday in the third run, which is why elections are necessary. Recent surveys in Greece show a projection of the Left Party Coalition of the Radical Left (SYRIZA) Alexis Tsipras. This aims to renegotiation of the Greek consolidation program and a haircut on.



IMF puts emergency loans for Athens to form a government of

In response, the International Monetary Fund (IMF) continued its emergency loans for Greece to the formation of a new government. The next loan tranche could be paid only if, if, after the planned January elections, a new government was formed, said the IMF.

The negotiations on the next tranche of emergency loans leads the IMF together with representatives of the EU -Commission and the European Central Bank (ECB). He added that Greece had no “direct” financing needs.

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Elections: Greeks raise 2.5 billion euros of accounts from – Spiegel Online

Elections: Greeks raise 2.5 billion euros of accounts from – Spiegel Online

Athens – The upcoming elections put many Greeks in panic for fear of political and economic turmoil savers and businesses raised according to media reports in December a total of 2.5 billion euros from their bank accounts from. The current “mini-capital flight” is unusual and only thus can be explained that the people are very worried, given the early elections, told the conservative Athens newspaper “Kathimerini” on Wednesday.

The tendency to withdraw money had therefore begun in November, totaling around 200 million euros. A run on the banks be it according to estimates by experts clearly not. However, the development show the concerns of citizens, it said in the newspaper report.

On Monday, the director of a bank branch had said in the Athens suburb of Peristeri, you go especially in ATMs very careful: So definitely not a “bank run” is triggered, the Institute ensured that all are adequately stocked with money.

After the former EU Commissioner Stavros Dimas had failed on Monday with trying to become the new Greek government president, parliament, elections were scheduled for 25 January. Recent surveys in Greece show a projection of the left alliance SYRIZA Alexis Tsipras. This aims at a renegotiation of the Greek consolidation program and a haircut. The bourgeois New Democracy (ND) under the incumbent Prime Minister Antonis Samaras has, however, caught up in the past few days, according to pollsters.

According to the “Grexit” back to the drachma?

The former chief economist of the European Central Bank (ECB), Jürgen Stark, expressed with regard to the elections in Greece criticism of the bailout policy of the ECB. “Greece since 2010 was in fact insolvent several times,” he told the “Süddeutsche Zeitung”. Was again and again with new money in the Member States and the ECB’s insolvency abducted. Now showed “the still unsolved problems in the strongest”. In protest against the rescue of the ECB Stark 2011 was resigned.

The head of the Munich-based Ifo Institute, Hans-Werner Sinn, holding a Greek exit from the euro zone worth considering. As head of government head of the left Tsipras would probably want to keep his country in the monetary union, but not at any price, meaning said the “Tagesspiegel”. Therefore, a “Grexit” scenario is not entirely unlikely. It would occur a then when Athens get more emergency loans or could no longer finance the capital market – Tsipras would thus return to the drachma.

The deputy chairman of the CDU group in the Bundestag, Michael Fuchs (CDU), which holds for the case of an election victory Tsipras’s conceivable. The situation is entirely different than three years ago, when we have not yet had the assurance mechanisms, Fox said the “Rheinische Post”. “The times when we had to rescue Greece, are over. There is no more blackmail potential.” Greece is not relevant to the system for the euro. If Tsipras mean, he could throttle the austerity measures in Greece, “then the Troika will have to drive back the loans for Greece.”

Tsipras had made in the past few days, his constituents on economic “terror scenarios’ attention. These will be available in the next few weeks again and again. Citizens should not be too impressed by these visions of horror, the politician said. Investors and speculators in the financial markets showed so far largely unaffected by the next elections to Parliament.

By the end of February, the auxiliary current and savings program for Greece must be completed. It must also be agreed with donors, such as the land is to be helped in the coming months.

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Federal Employment Agency recognized billion surplus – tagesschau.de

Federal Employment Agency recognized billion surplus – tagesschau.de

Date: 31/12/2014 10:01 clock

The Federal Employment Agency (BA) is able to announce a billion-dollar surplus again. In 2014, financed by contributions from employers and employees unemployment have made a surplus of 1.4 billion euros, said BA chief executive Frank-Jürgen Weise Deutsche Presse-Agentur. The federal agency’s finances had “developed very solid,” said manner. Originally, the BA had expected for 2014, with a surplus of 160 million euros.



revenue increased significantly

In 2014, the federal agency has benefited from the increased inter alia to record high employment in Germany. The number of social insurance contributions had grown annual average increase of about 500,000 and had ensured that the premium income was 300 million euros over the original estimate. Because of the mild winter and expenditure for the season Kurzarbeitergeld had turned out to be less than budgeted.

In contrast, subject expenditure on unemployment compensation last year by 700 million euros over previous plans. One reason is that short-term unemployed were without a job for more than a year earlier. Was unemployed in 2013 on average after 130 days of work, there were 2,014 ten days more. Each day, the average duration of unemployment climb, the federal agency would cost 60 million euros a year more. “We have to ask ourselves: How can we help unemployed faster in employment.” Said manner

reserves are not sufficient for a crisis

The surplus of 1.4 billion euros to flow into the reserves after Sage words; the BA-financial cushion in times of crisis grows so to 3.3 billion euros. Severe economic crises that could make similar as in 2008 a multibillion dollar short-time program is required, thus but could not cope, acknowledged manner. “For long economic crises of the federal agency threatens a financial gap 20-30 billion euros,” said BA chief.

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New rival for Siemens: China’s state-owned railways blow to attack – n-tv.de NEWS

New rival for Siemens: China's state-owned railways blow to attack – n-tv.de NEWS

business
 


 Wednesday, December 31, 2014

 
 
 


 
 The mega-merger of the two Chinese railway companies CNR and CSR could for competitors on the world market – become a problem – such as Siemens. Because when applying for major projects, the new group has some advantages.

 


  Charts
 
 

Now they are no longer each other’s way. With a mega-merger, the two largest Chinese Zugbauer CNR and CSR join forces to the world’s largest rail manufacturer, Siemens and Bombardier to defy. The Iron Giant China has not only cost-effective technology, but also provides with the help of the state and the necessary funding needed packages.

Most recently, China’s Premier Li Keqiang at the summit of the Eastern and Southern European countries in mid-December in Belgrade advertised for Chinese Railways – as used previously in other foreign trips. Everywhere loans are available. . In Southeast Asia, Africa and Latin America, the Chinese railway industry is active

rail links with Chinese technology, finance and engineering are important elements of the new Chinese monetary diplomacy, with billions of loans abroad new infrastructure projects or economic corridors – such as the ” New Silk Road “from China to Europe – to move forward. The merger of the two Zugbauer is a further step in this strategy, which China wants to develop new markets.



Times of ruinous competition is over

The two Chinese state-owned enterprises had international ruinous Competition delivered – for example, when applying for major projects in Turkey and Argentina. “The new group will have a clear advantage over their global rivals by being able to optimize the technological advantage, human capital and production capacity,” Wang Mengshu said of China Academy of Engineering of the newspaper “China Daily”.

The domestic market is not rising as fast. The capacities are large. As new markets must be found. A billion deal in Mexico burst in November because of a lack of transparency in the tendering. But CNR won in October in Boston a 567 million US dollar contract for the local subway -., The first for a Chinese manufacturer in the US

China’s railway workers also want the trains for the 1287 km comprehensive provide high-speed network, the state of California is envisaged. China also plans to Brazil and Peru to help in its ambitious project to build a 4,500 km long link from the Pacific to the Atlantic. Chinese state-owned banks and multi-billion dollar infrastructure fund can offer necessary financing for such projects. Conceivable future also credits the Development Bank of the Brics countries, China has established together with Brazil, Russia, India and South Africa, or of the new Asian Infrastructure Bank (aIIb), which also relies on China’s billion.



China’s aviation industry model could follow

More about
 
 
 

In order to succeed globally, large corporations are needed. “While China’s economy is entering a ‘new normal’, the central government is keen to provide greater international brands of its advanced industries such as railway equipment and communications to ensure a high-quality growth,” Zhang Ji said of the Foreign Department of Commerce Department the “China Daily” overlooking the braked economic growth and the desired structural change.

In order to create global market size, China’s leadership looks around in other industries such as aviation. Modeled after the railway merger, there are discussions about a merger of the two major state-owned aircraft manufacturer Avic and Comac, like a Chinese source reported. Comac builds considerable delay and high levels of investment in a regional jet and a larger passenger aircraft to make Airbus and Boeing competition. “The government is losing patience,” said a person familiar with the internal deliberations. Avic had been asked to take Comac. “A merger is expected to increase efficiency and create a powerful group.”

  Source: n-tv.de
 


 
 
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Elections in Greece: A risky maneuver – Neue Zürcher Zeitung

Elections in Greece: A risky maneuver – Neue Zürcher Zeitung

In Greece, the President has only representative functions. But in almost any other country, the political consequences are so serious if the candidate does not achieve the necessary majority for the highest office in the Parliament. According to the Greek Constitution, it must be ordered again within a few weeks the legislature. The opposition saw her come an hour. For them, the election of the president was a no-confidence vote against the government of Prime Minister Antonis Samaras and their austerity and reform policy. Greece, whose economic and political reconstruction is far from complete, so that slithers back into a period of uncertainty at the end not only a change of power, but also – as is widely feared -. A fundamental change of course could have far-reaching consequences

But still, the head of the Left Alliance SYRIZA, Alexis Tsipras, did not win the elections. Even if he should receive the most votes, he probably needs a coalition partner. Even after the parliamentary elections of May 2012, the parties could not agree on a new cabinet. Then the political disintegration took threatening forms, and new elections were the only way out. They held six weeks later. The two parties, New Democracy and the Panhellenic Socialist Movement (PASOK) who alternately and often ruled the country since the end of military rule in 1974 in autocratic manner alone, were still a grand coalition. They were forced to work together. It was an unusual step, because this forced marriage meant the end of the era of Einparteiregierungen.

The fact that the Greeks are tired of saving and of the harsh conditions imposed by the troika of the European Commission, the European Central Bank and the International Monetary Fund, is understandable. Those who live in richer countries of Western Europe in secure and orderly conditions can only imagine what it means when his income is shrinking within a few years by a third barely. But even if Tsipras should be the next Prime Minister of Greece, so does that not mean that everything that has been achieved in recent years, is undone. Tsipras matter how much startled with some of his slogans western partners – he would rely on financial aid, he could not just throw money around. In addition to that Samaras had once fought against the austerity measures prescribed by the foreign donors violently. But he took a U-turn, because he wanted to become Prime Minister. This goal, which he reached after the elections of 2012, he subordinated everything.

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Attack on the world market: Mega-Merger: China train giants unite – ABC Online

Attack on the world market: Mega-Merger: China train giants unite – ABC Online

Wednesday, 12.31.2014, 10:01
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The two largest Chinese train manufacturer, CNR and CSR, have come together to form a giant Zugkonzern. This creates a powerful competitor for companies such as Siemens.

The two largest Chinese train manufacturers have teamed up to compete in the world market with united force against rivals such as Siemens and Bombardier. After the announcement of the mega-merger between China CNR and CSR shares shot on Wednesday in Hong Kong and Shanghai steeply. Both had last market value of the equivalent of around 21 billion euros. The fusion through a share swap.

In a message to the Shanghai Stock Exchange, it was said that the merger should be “a new cross-border and global leader in high-quality web design create” as the official Xinhua news agency quoted. In the exploration of the world market so you should also “grave wars” between the two manufacturers of high-speed trains are avoided.



Competition for Siemens and Co.

The Chinese National rail industry was not until 2000 that the two producers in the north and south, North China (CNR) and China South Locomotive and Rolling Stock Corporation was (CSR), divided to encourage competition. The Zugbauer cooperation with foreign manufacturers such as Siemens, Bombardier from Canada, Alstom time were received from France and the Japanese Shinkansen producers to develop high-speed trains.

With the construction of the largest high-speed railway network in the world in China, the two manufacturers have developed their own trains, with which they make Siemens and other competitors today. In addition to high-speed trains both also produce 80 percent of freight trains and most metros in China. Both train manufacturers are among the largest state-owned enterprises in the country.



Increased focus on the world market

Their shares were traded on Wednesday for the first time since October 27 again. The trade was then exposed when the plans for the possible transaction became public. The newly created railway company has around 170 000 employees. The combined revenue estimated the Bloomberg news agency in the twelve months to September to 228 billion yuan, now converted 30 billion euros.

As China’s railway market is not as fast paced grow in the future and the capacities are large, both manufacturers must increasingly look to the world market. Both have but repeatedly delivered in tenders abroad ruinous price war.



The corporations are the most expensive of the year

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Tuesday, December 30, 2014

Exit from euro zone? Greece is not relevant to the system – FAZ – Frankfurter Allgemeine Zeitung

Exit from euro zone? Greece is not relevant to the system – FAZ – Frankfurter Allgemeine Zeitung

      

 
 
 
 
 
     
 
 
 
 
 
 
 
 
         

 
 
 
 
 
          There are still Greek euro coins.
     

 
                                           
 
 
     
     
     
         
         
                                                             

The deputy chairman of the CDU group in the Bundestag, Michael Fuchs (CDU), holds for the case of an election victory of the Greek Left Party SYRIZA an exit of the country from the euro-zone conceivable. The situation is entirely different than three years ago, when we have not yet had the assurance mechanisms, Fox told the newspaper “Rheinische Post,” according to a preliminary report.


                         
         
         
                                                                                                                                                                                                  

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“The times when we had to rescue Greece, are over. There are no more blackmail potential. “Greece is not relevant to the system for the euro, says Fuchs. If my Alexis Tsipras of SYRIZA, he could go back reform efforts and austerity measures in Greece, “then the troika but is forced to scale back the loans for Greece.”


                         
         
         
                                                             

sense: euro-exit as an alternative

The economist Hans-Werner Sinn called a Euro-Greek exit an alternative to other financial willingness of the international creditors. “Other debt cuts will have to be granted over again, unless you dismiss the country from the euro and allowed him to regain competitiveness by devaluing” the president of the Ifo Institute for Economic Research said the “Daily Mirror” according to a preliminary report. Sense pointed out that Greece has already received 2,012 concessions in the term and the interest on the part of international lenders.


                         
         
         
                                                             

After the conservative Prime Minister Antonis Samaras not brought its presidential candidate in Parliament are the Greeks on 25 January elections into the house. The strongest fo rce the Syriza could it be that wants to change the agreements with the international lenders. Greece since 2010 with two bailouts totaling 240 billion euros have been held by the EU and the International Monetary Fund (IMF) on water.


                         
         
         
                                                             

“Insolvency abducted”

The former chief economist of the European Central Bank (ECB), Jürgen Stark, criticized Given the forthcoming elections in Greece, the bailout policy of the ECB. “Greece since 2010 was in fact insolvent several times,” Stark said the “Süddeutsche Zeitung”. “Again and again, was abducted with new money in the Member States and the ECB bankruptcy.” Now the still unsolved problems showed in all clarity.


                         
         
         
                                                             

The ECB has granted since 2010 repeatedly Greek banks access to credit. In addition, the Fed bought at the height of the euro debt crisis, Greek government bonds. Stark resigned in 2011 in protest against the rescue of the ECB of his office.


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Greece Ex Commissioner Dimas failed again

The left opposition leader, Alexis Tsipras, has apparently not voted yes: even at the second attempt the Conservative candidate Stavros is Dimas not elected by the parliament in Athens President More

12/23/2014, 15:11 clock |. Policy

Exchange balance Euro crisis could flare up again

The fear of an end of the Greek austerity has investors on the last trading day of the year spoiled the mood. Investors fear that a victory of SYRIZA party could reignite the euro crisis again More

30.12.2014, 15.: 43 Clock | Finance

Greece Tsipras before the last step

If the election of a new Greek President also fails on the third attempt, the Parliament has to be re-elected. Then the Greek opposition leader could be the new prime minister. Although he castigates his predecessor, but promises the same benefits. More From Tobias Piller

23/12/2014, 08:33 clock | Economy

     
     
     

 

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” Greece is not systemically important “

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Louder and louder the calls, Greece will keep not at any price in euros. Unlike a few years ago the country had “no potential blackmail anymore,” says a senior CDU politician.

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POLITICS AND SOCIETY: A Greek against Merkel – ABC Online

POLITICS AND SOCIETY: A Greek against Merkel – ABC Online

FOCUS Magazine | No. 52 (2014)
Tuesday, 12.30.2014, 20:20 · FOCUS-author Ferry Batzoglou
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If the Greeks elect a new parliament in January, he is likely the new head of government are: Alexis Tsipras. Brussels fears him, because the left could trigger a new euro crisis. His favorite enemy is Angela Merkel.

Everyone wants to see and hear him. Most him want to celebrate. The hall in Heraklion on Crete is packed, as Alexis Tsipras comes to the podium. It looks nice: youthful face, jet-black hair, blue shirt without a tie as always open. And yet the smart Left is Europe’s nightmare. He wants to stop the restrictions imposed by the Troika, hated austerity program.

His chances are good. The crisis-ridden Greeks love him. Tsipras is the most popular politician in the country. His Coalition of the Radical Left, SYRIZA, long ridiculed as a small party of some salon-Bolsheviks, was in the European elections in May strongest force. Even at the last general election in June 2012 brought SYRIZA 27 percent. In the upcoming parliamentary elections, to be held on January 25, Alexis Tsipras is the big favorite. The show all surveys since SYRIZA victory in the European elections in May.

That is why he talks himself into a rage in Heraklion. “We will set the pace,” rumbles of politicians, “and the markets will dance to our tune.” The audience claps and cheers and smiles Tsipras – as always. As a teenager, he has demonstrated a tireless media attention squatters school in his hometown of Athens, the baffled political elite. Since then, he’s “cool Alexis.”

His meteoric political career started at the stalinistischorthodoxen communists in Greece. The student group in which he earned as a tough functionary first spurs, called Engelados the earthquake.

The 40-year-old is now polarized. Critics complain of his lack of self-criticism and his lust for publicity. Admirers praise its intuitive people nearby. For many he is simply an incorrigible populist.

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Prime Minister Tsipras wants to repeal the reforms demanded by the troika, negotiate the repayment of debt and increase government spending vigorously to stimulate the economy. Rhetorical he turns it on like. His favorite enemy: Angela Merkel. With its “false Protestant principles” destroy Europe. . The Troika – which has paid for the rescue Athens 240 billion euros since 2010 – that his country into a “debt settlement”

A good news is the youngster in Heraklion but that the Greeks should be all misery for Despite looking forward to a happy new year. Everything would be better if his party soon takes over the government of the country, says Tsipras. And

grins in the video.

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VTB: Russia’s second-largest bank helps with billions – Spiegel Online

VTB: Russia's second-largest bank helps with billions – Spiegel Online

Moscow – The state-controlled VTB Bank has received billions in public aid by its own account. You were asked 100 billion rubles available, the bank said. This corresponds to around 1.4 billion euros.

The Bank expects by the end of March with the transfer of another 150 billion rubles. The money thus comes from a national relief fund, to which over the years received a part of Russia’s oil revenues. The funds should be used to finance public infrastructure projects, said the VTB.

The VTB is the second largest bank in the country and an important source of credit for major public projects in Russia. She suffers from the sanctions, the EU and the US have in the summer issued in connection with Ukraine crisis against a total of five Russian Institute. Recently winning the VTB slumped by 98 percent.

The sanctions make it difficult for banks to obtain new money to the Western financial markets. In October, VTB and Sberbank, the market leader and Vnesheconombank said they have not lodged a complaint against the EU sanctions before the European Court of Justice.

The Russian banking sector is in addition to the sanctions and the massive devaluation of the ruble to create. On Monday, Prime Minister Dmitry Medvedev that he had approved a capital injection of one trillion rubles for the industry.

Just last week, the United Bank Trust had been saved from bankruptcy; Russia’s central bank set for up to 30 billion euros. Economy Minister Anton Siluanow also shared with the state-controlled Gazprombank will receive 70 billion rubles within a few days.

The Russian government has, however, the United States warned of an increase in penalties. Further steps could jeopardize cooperation on other issues such as Iran’s nuclear program and the crisis in Syria, said the Russian Foreign Ministry. The United States should have been clear that Russia such unfriendly acts could not leave without an answer.

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Election in Greece: crisis scenario without terror – tagesschau.de

Election in Greece: crisis scenario without terror – tagesschau.de

Date: 30.12.2014 18:03 clock

What happens if Greece left the alliance will win the election? If there is a radical break with the austerity policy, international donors should stop making payments. More likely is a different scenario.

By Jörn Unsöld, tagesschau.de

With pithy words makes Alexis Tsipras from Syriza front against the austerity targets that have imposed international donors Greece: “The euro zone can not last forever balancing on a knife-edge Either it covers a large part of the billion debt – or they will all fall into the abyss..”

Multiple announced the SYRIZA boss, do not repay in the event of an election victory, the debt in full, adjust official dismissed again and the reform program of the government of Prime Minister Antonis Samaras to cut.

Looking for a partner to rely

But there is a change of government, SYRIZA is all according to surveys rely on coalition partners, such as the Democratic Left, which occurs much more moderate , In other words, SYRIZA would take of his radical positions distance, with the troika of the International Monetary Fund (IMF), European Commission and the European Central Bank (ECB), the painful process of reform thus nevertheless continue

” After initial general rejection of the entire reform and consolidation process and tough negotiations between the new government and the European institutions are ultimately compromises found “a possible scenario of Landesbank Hessen-Thüringen (Helaba). Then the recovery process of the Greek economy would indeed lost – a complete relapse into recession but prevents

Giegold. SYRIZA can not dictate haircut

The Green MEP Sven Giegold cautions against overestimating Tsipras. Guided by the SYRIZA party possible government can not dictate a haircut, Giegold said in Germany radio. A renegotiation of the debt – as required by Tsipras – was only fair that Greece is reforming its tax system simultaneously. Was necessary, for example, that there is a greater burden of high capacity.

But in addition to the optimistic model, also keeps the grim prognosis that could lead to a complete rupture between a possible new Greek government and the Troika links. What pressure fluid would then have the international donors at all? After all, it’s about two aid packages from a total of around 240 billion euros. “Making a lot of pressure can not troika” of money that has flowed in several installments, the last tranche of 1.8 billion euros is still pending.

says Gertrud Sheila, chief economist at Helaba in conversation with. In other words, the funds from the IMF, European Commission and the ECB would be lost – and Greece so completely insolvent. In financial markets, this would lead to unpredictable turbulence

.

Discussion of “Grexit”

The interest that has to pay for Greece to the capital markets would increase sharply again. Even now – after the announcement of the election – the yields on ten-year Greek bonds had risen to more than nine percent. In this scenario – no other help through the Euro countries, the IMF and the ECB – Athens would find no more private money lenders. “A debt restructuring and ultimately the Greek exit from the euro zone are inevitable,” the conclusion of Helaba analysis for this extreme case.

But a Greek exit from the euro zone is legally principle not provided. According to the EU Treaty of Lisbon is a member of the currency zone “irrevocable”. If it came despite any legal obstacles to achieving the government in Athens would have to devalue the drachma new to make the economy more competitive again. However: The Greeks would advance the banks rush to withdraw their money in euros. The banking system would collapse.



Warning of high inflation

In addition, the devaluation of the drachma would prefer a dramatically high inflation and doubling prices itself explains Sheila. “Then it comes to massive protests in the streets,” she adds. The euro zone as a whole sees but also in this case is not in danger. An assessment shared by the director of the German Institute for Economic Research in Cologne. “The blackmail Europe is significantly less than three years ago,” said Michael Huether the “world”. Other countries such as Ireland and Portugal would have worked out of the crisis, also there was progress in terms of regulation, such as the Bank Union.

Read more about today at 20:00 clock in the tagesschau.

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Wind power: building wind turbines reaches record level – STAR

Wind power: building wind turbines reaches record level – STAR

30. December 2014 07:40 clock

>
The nuclear accident at Fukushima is one of several reasons: the construction of new wind turbines in Germany has reached a record high – and exceeds the specified limit of the legislator.

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Ukraine conflict: banks lose deposits, high inflation – Spiegel Online

Ukraine conflict: banks lose deposits, high inflation – Spiegel Online

Kiev – The Ukrainian banks among the biggest losers in the political-military conflict in the country. They suffer from a massive capital flight. In the waning year, the Institute had lost 29 percent of their deposits, the central bank chief Valeria Gontarewa said on Tuesday. In your opinion, the banking system of Ukraine is currently inoperable.

In the expiring year, economic output is likely to be dropped by 7.5 percent, said the central bank boss further, thus confirming previous statements. The inflation rate in late November at 21 percent. “Such a difficult year, our country has not experienced at least since the Second World War”, Gontarewa said.

The Ukrainian economy suffers enormously from the conflict in the east of the country, where since the spring of government forces and pro-Russian rebels fierce fighting deliver. The foreign exchange reserves of the country are fused together by more than half and be the first time in five years, less than ten billion dollars (8.2 billion euros). Background is an attempt to support the Ukrainian currency. The hryvnia has lost much of its value since the beginning. On Tuesday morning, had for a dollar Hryvnia 15.82 to be paid -. At the beginning there were only 8.24 hryvnia

In order to stabilize the state budget, the parliament in Kiev on Monday adopted an austerity package, which among other things, higher import tariffs cuts of social spending and simplification of corporate taxation provides. However, the expenditure for the Army to increase significantly. The aim of saving budget, it is also to facilitate the disbursement of loan tranches from the International Monetary Fund (IMF). IMF experts are expected on January 8 in Kiev.

For the coming year central bank chief Gontarewa expects at most a slight relaxation. “I think that will never happen again, what we have seen this year,” she said. “Without question, we are optimistic about 2015.” Accordingly, inflation should slow down a little, with Gontarewa emanating from a control between 17 percent and 18 percent. Back in November, the central bank boss had said that it expects to 4.3 percent next year with a decline in gross domestic product (GDP).

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Oil prices in descent: Venezuela accuses US “Oil War” – STAR

Oil prices in descent: Venezuela accuses US "Oil War" – STAR

30. December 2014 09:10 clock

The price of oil falls rapidly. Venezuela’s President Nicolas Maduro sees his country’s economy in danger – and the United States are to blame. You would want to destroy Venezuela with an “oil war”.

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Oil price falls – Venezuela accuses US “Oil War” – Spiegel Online

Oil price falls – Venezuela accuses US "Oil War" – Spiegel Online

Caracas – Many consumers and businesses are happy about this news, but for the government in Caracas there may have been another bad news: On Monday evening, the oil price fell to its lowest level in more than five years. The North Sea Brent Chart Show prices were down by 1.75 dollars to $ 57.51 per barrel (about 159 liters). US oil cost $ 53.10 with $ 1.63 a barrel less. Thus, the price of oil is not as low as in May 2009.

The price drop hits countries like Russia and Venezuela hard. Venezuelan President Nicolás Maduro now made the United States responsible for the development in the oil market. The left-wing politicians accused the United States price-cutting on the energy market. The US flooded the market with cheap oil to hurt the economy in Venezuela and Russia, Maduro said. “You are going to have a war to destroy Russia and Venezuela. In order to recolonize us to destroy our independence and revolution.”

The price of a barrel of Venezuelan oil stood at $ 48. In September the price of a barrel $ 95. The situation in Venezuela is tense. The South American country is heavily dependent on oil exports and threatens him according to analyst estimates in a few months of bankruptcy. In March Venezuela must pay back government bonds around a billion dollars. A total of 2015, more than $ 30 billion in payments become due.

Since the summer oil has cheapened by more than 40 percent because of a global oversupply. Background is in addition to a weakening demand and the booming production from shale rock in the United States thanks to the controversial fracking technique. Saudi Arabia made recently with the announcement of a stir, the country would not reduce its flow even with a further decline in oil prices. Oil Minister Ali Al-Naimi justified this with the concern for the market power of his country. He also denied accusations that there are in the oil market a conspiracy against certain countries.

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Renewable energy: Windy record – Reuters

Renewable energy: Windy record – Reuters



The comeback of the marketing year

The condemned businesses, products of dubious reputation – what the market does not succeed, usually disappears. Some but also create a curious comeback. Who are the unexpected winners of the year.

The biggest failures of the year

They hurt, but can not be avoided: bankruptcies are to economic activity. Also in 2014 were well-known companies such as worldview and Prokon into bankruptcy. But that does fortunately not always the end.

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Monday, December 29, 2014

Greece at a crossroads – THE WORLD

Greece at a crossroads – THE WORLD

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Greece at the Crossroads

After the failed presidential election there will be elections in late January. Government and left fighting for power. Three scenarios for the future

                  After the failed presidential election there will be elections in late January. Government and left fighting for power. Three scenarios for the future
                  By Jan Dams,

At the end Stavros Dimas missing twelve votes for election to the Greek President. But the third attempt succeeded the candidate of the ruling coalition not to convince the necessary majority of parliamentarians. Thus, there is now the one, Greece donors eager to avoid: On January 25 elections will be held

For Greece the ballot is the fateful choice. Greece holds fast to his reforms and remains a member of the Euro zone? Or choose the country to the left politician Alexis Tsipras and flies may be out of the euro? What happened to the German billions in aid? Threatened by a resurgence of the euro crisis ? Three possible scenarios could now arrive

Scenario 1:. Despite elections no chaos

Despite elections must in Greece no chaos break out – if the alliance of conservative Prime Minister Antonis Samaras should win. Samaras one should not write off despite the defeat in the presidential elections. That the opposition has now forced an election could not go down well in the population. Many Greeks should the ballot as the grasp what it actually is: a fateful election. “The Greek people will think at the ballot three times if she wants to take a different path,” the director of the Institute of the German Economy Cologne (IW Köln), Michael Huether said.

Samaras asked by the troika of the EU, the European Central Bank (ECB) and the International Monetary Fund (IMF) even to loosen the reins savings. But so far he was willing to cooperate. And its price has shown successes. The country grew last as much as any other country in the euro zone. “We are, no matter how the election goes out, losing precious time. This is all the more regrettable because Greece in many areas on the right track,” said the CDU parliamentary leader in the Bundestag, Ralph Brinkhaus.

“citizens will know how to prevent it, that Greece by fireworks promises of the opposition back in a new adventure crashes,” said Prime Minister Samaras are confident. Well, not his chances though. Polls predict a shift to the left and a victory of Tsipras ahead

Scenario 2:. Tsipras comes to power – and fails

Tsipras is the specter of Europeans. The head of the party’s left alliance SYRIZA does have declared their intention to keep Greece in the euro zone. But with his demands is almost impossible: He wants to end the German austerity, terminate all reform contracts and negotiate a radical debt relief for his country

get these demands. in the population at. Since 2009, the gross domestic product has fallen by 25 percent. Many Greeks blame the reforms imposed for its dramatic economic decline. Therefore Tsipras’s chances of victory are not bad. If he actually come to power, put Greece’s lenders on a quick disenchantment. “We would hope that the SYRIZA coalition would fall apart and some of the partners to anschlössen the Socialists of Pasok,” said EU observers.

Excluded is not. The end of February runs from the EU’s bailout program. The new government had only a few days for negotiations on new aids. “A Greek government would Tsipras to the EU in a weak bargaining position,” says Huether. “The blackmail Europe is significantly less than three years ago. Other countries, such as Ireland and Portugal have worked out of the crisis, and there were institutional advances such as the banking union.”

In addition, donors Athens hold back the date for the final installment of the bailout because Greece has not yet fulfilled all reform requirements. “Without outside help Greece is unable to act in the face of the debt,” says SPD finance politicians Carsten Schneider. “In Greece, private interest of reforms must be continued.” In mid-March would be Greece without assistance bankrupt.

At the latest after the change of government, the markets are also likely to exert immense pressure on Greece. Probably a flight of capital and a new economic downturn. Then Greece would need a new rescue package. But that would mean new editions of the hated Troika. If Tsipras decides against new tools, more moderate forces could leave his alliance to avoid the worst. The flying out of the euro-zone

Scenario 3: Greece flies out of the euro

If Tsipras clings to his demands and his government will not tilt Greece is hard to keep in the Euro-zone. An terminate the contracts reform and debt relief on a large scale would not vote donors. Too much money is at stake: So far, Greece has received 240 billion euros in aid of its partners. In addition to major concessions in Greece would be a devastating blow to other euro-crisis countries.

A terminate the contracts would lead to an auxiliary stop and thus to the insolvency of the Greeks , An exit from the euro would result. The consequences would be devastating: “In a euro exit threatens the whole country a massive impoverishment and withdrawal from the EU,” says economist Huether. “The country would have to be sealed off financially, so it does the rest of Europe with its problems contagious,” said one observer.

Lost would be at a Euro- exit a majority of German aid of around 80 billion euros. If the new Greek currency would depreciate sharply, the debt burden would rise sharply. Because the debt must continue to operate in the country euro. On a debt summit Greece would have to negotiate with its lenders, which debt the country can still operate.

For a long time the withdrawal of a Member State of the euro as the nightmare scenario at all. Investors could also bet against other euro countries after leaving a country. Like a domino effect would a country leaving the euro zone after another. But times have changed. “I believe that the monetary union could sustain a Greek exit now. The contagion to other countries would be minimal,” says Huether.

“The euro zone has now to deal with a well-oiled machinery crises, “says Holger Schmieding, chief economist at Berenberg Bank. The rescue ESM would be willing to help financially struggling countries. Furthermore, the European Central Bank (ECB) will probably buy government bonds in the coming year, which at least temporarily significantly reduces the risk of sovereign default of other states. Schmiedings conclusion is therefore short and sweet: “Greece is a danger – but above all for themselves.”

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Greece: What does SYRIZA of Europe? – DiePresse.com

Greece: What does SYRIZA of Europe? – DiePresse.com

It is scheduled for January 25, 2015 election of the Greek Parliament, the hour of SYRIZA could beat: The left-wing protest movement is in current polls before the ruling conservative New Democracy party of Prime Minister Antonis Samaras. Anything but a victory of the Left Alliance would be a surprise, my choice researchers in Greece. The chairman of SYRIZA, Alexis Tspiras, already now speaks of a “historic day” for democracy in the heavily indebted euro country

.

Historically, not only because then for the first time a left-wing party in Greece came to power, but also because SYRIZA is different from the major Greek parties: he has left the alliance as a grass-roots movement. Popularity is its radical program in the population, particularly by the dissatisfaction with the austerity measures that have been placed upon the international lender Greece.



Help for the poorest 300,000 Greeks

 

So SYRIZA wants to terminate the reform programs, stop planned privatizations and reach another haircut: The bailout of the troika of the EU, European Central Bank and the International Monetary Fund would already belong within a few days of the past, SYRIZA chairman Tsipras said on Monday after the failed presidential election

would Tsipras’ party in January actually to power, they would probably try their so-called “Thessaloniki Agenda” to implement. The agenda provides to introduce tax cuts and higher minimum wages and all Greeks free provide medical care. Over-indebted households will SYRIZA offer a loan remission, 300,000 of the poorest families to receive food stamps. As a bonus SYRIZA wants to do with the agenda 300,000 new jobs in the public and private sectors.

These promises draw in the Greeks. Record unemployment and austerity guidance from the troika have greatly exacerbated the political atmosphere in the country; the violent neo-Nazi movement “Golden Dawn” has been found by the euro crisis trailers. The economic and political instability makes it not only the Greeks, but also the foreign creditors difficult: the payment of the last tranche worth billions in aid to Greece has been postponed until 2015. To be uncertain, the euro countries, who will sit in Greece at the negotiating table.



exit from the euro?


 

If the Greek negotiators then called SYRIZA in January, that would be an earthquake on the international stage, “No planned by the SYRIZA measures are feasible if Greece in the euro zone remains” says about the economist Nicholas Economides of the New York University. Greek Prime Minister Antonis Samaras is quoted in “Spiegel Online” with dramatic words: “All this leads to the exit from the euro zone,” he says about the plans of the Left Alliance. And this is actually the biggest problem of SYRIZA: they themselves seek no exit from the euro to; but their political desires are probably incompatible with the guidelines of the euro zone

Whether the charismatic SYRIZA chairman Tsipras -. it should come so far in January – would actually occur as a rebellious head of government debt State, however, is questionable. Already the current prime minister Samaras went with anti-austerity slogans for votes; but as the supreme Government member of the Conservative politician has been a reliable partner at European level. Compared to “Spiegel Online” also brought SYRIZA spokesman and Tsipras Familiar Panos Skourletis his party in a milder position: “We only want one thing with Europe negotiate, namely how we can make our debt more bearable.”

(eup / APA / Bloomberg)

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Economist Michael Hüthen: Euro-Greek exit would be manageable – FAZ – Frankfurter Allgemeine Zeitung

Economist Michael Hüthen: Euro-Greek exit would be manageable – FAZ – Frankfurter Allgemeine Zeitung

      

 
 
 
 
 
     
 
 
 
 
 
 
 
 
         

 
 
 
 
 
          Directs the Institute of the German Economy in Cologne: the economists Michael Huether
     

 
                                           
 
 
     
     
     
         
         
                                                              

The economist Michael Huether holds an orderly exit of Greece from the euro-zone’s probably harmless. “I believe that the monetary union could now withstand a Greek exit. The contagion to other countries would be minimal, the world, “the director of the Institute of the German Economy Cologne told the newspaper,” “according to a preliminary report.


                         
         
         
                                                             
                                 

“A Greek government would Tsipras to the EU in a weak bargaining position,” added Huether. “The blackmail Europe is significantly less than three years ago. Other countries such as Ireland and Portugal ha ve worked out of the crisis, and there were institutional advances such as the banking union. “The Greek population would be at the ballot” think twice whether they want to take a different path, “said the economist. “With a euro exit threatens the whole country a huge depletion and the exit from the EU.”


                         
         
         
                                                             

Monetary Fund stops aid payments to Greece

As the International Monetary Fund (IMF) announced in Washington on Monday, the suspended talks on aid payments to Greece will be continued only after the formation of a new government. The next tranche will therefore be paid only if, after the planned January elections, a new government was formed, said the IMF. He was responding to the final on Monday failed election of a head of state in the Greek Parliament, which pulls the dissolution of parliament and early elections by themselves.


                         
         
         
                                                             

The negotiations on the next tranche of emergency loans leads the IMF together with representatives of the European Commission and the European Central Bank (ECB). The talks between the Troika, Athens would not resume “when a new government,&# 8221; said IMF spokesman Gerry Rice. He added that Greece had no “direct” financing needs.


                         
         
         
                                                                                               

         
         
                                                             

However, warned in view of the upcoming parliamentary election against any deviation from the austerity German Finance Minister Wolfgang Schaeuble Greece. “If Greece will choose a different path, it is difficult,” it said in a statement his ministry on Monday.


                         
         
         
                                                             

Stay the course

On Monday and EU Economic Affairs Commissioner Pierre Moscovici Greece urged to stick to its reform. A clear commitment to Europe and widespread support for the reform process is crucial to ensure that Greece could flourish again within the euro zone, Moscovici said.


                         
         
         
                                                                                                                                                                                                                                                          

More about

The new election in Greece became necessary after the election of a new president had failed in the third passage , The former European Commissioner Stavros Dimas missed on Monday in Parliament the required majority of 180 votes. Only 168 deputies voted for Dimas, who was supported by Prime Minister Antonis Samaras.


                         
         
         
                                                             

At the Athens Stock Exchange share prices slumped in the head by more than ten percent, while yields on Greek ten-year bonds rose to more than nine percent. However, the Euro and German shares rebounded quickly.


                         
         
         
                                                              

Samaras had preferred the choice of a successor to head of state Karolos Papoulias by two months. He was the reason given for wanting to end the political uncertainty in the debt-ridden country. The next general election would rotational basis queued until 2016.


                                                                             
 
  
 
 
 
                       

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The election crashes Greece in a period of political and economic
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Athens Greeks hope investors fear

Before the election in Greece, the International Monetary Fund (IMF) continues its aid payments to the country. The negotiations will not resume until a new government is in office. The reactions to the news are mixed More

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economist Michael Hüthen:” Euro-Greek exit would be manageable “

economist Michael Huether

“Euro-Greek exit would be manageable”

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Greece without the euro – this scenario has, according to the director of the Institute of the German economy lost its terrors. The IMF, meanwhile its aid payments to the country first.

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