ECB’s decision on Greek bonds a “message of confidence”, says Greece

A decision taken by the European Central Bank on Greece is a strong message of confidence and a signal of acknowledging the progress made by our country, Finance Minister Christos Staikouras said on Friday, commenting on an ECB’s decision on Greek bonds.

The European Central Bank will offer threefold support to Greece after the end of the extraordinary quantitative easing program (PEPP) in March, and despite Greece’s exclusion from the conventional QE program (APP). Frankfurt will reserve the option of purchasing Greek bonds worth at least 20 billion euros and therefore cover the Greek state’s issuing activity.

That support will come through the extension of the bond reinvestment period, the flexibility that the reinvestment will have, and the possibility of reactivating the PEPP if required. Importantly, all ECB Governing Council members were in favor of that support to Greece, thanks to the systematic work by all Bank of Greece officials involved over the last six months.

“This is a very strong signal for Greece,” said ECB chief Christine Lagarde at a press conference, noting that the country “has clearly recorded great progress, especially at the front of reforms, and its credit rating has improved considerably.”

Staikouras stressed that this decision and the comments made by ECB’s president added to the chain of recent reports by partners, institutions and credit rating companies, which all certified that the country was moving towards the right direction and that its economic policy and the sacrifices of the citizens were bearing fruit.

He stressed, however, that the government and its economic team have no room for complacency that it will continue implementing reforms, and a prudent fiscal policy.

The FinMin noted that that the government and the economic team are working with a plan and with determination and confidence to further strenthen the country and to obtain, the soonest possible, the investment grade.

 

State Department approves potential frigate sale to Greece, despite agreement with France

WASHINGTON — The U.S. State Department on Friday approved a pair of potential deals for frigate construction and modernization with Greece, as the Hellenic Navy navigates a complex effort to upgrade its surface fleet.

Greece has an ongoing competition for a three-part plan: upgrade its four Hydra-class MEKO 200 frigates; obtain an interim capability it can operate while the MEKOs are at the maintenance yard; and buy four new frigates. Additional objectives, as outlined to the U.S. Navy, were to involve the Greek industrial base and to increase interoperability with the U.S. as a NATO ally and frequent collaborator in the Mediterranean Sea and elsewhere.

Pope Francis arrived in Lesvos

At just a few minutes after 10:00AM, the plane carrying Pope Francis to Lesvos landed at Mytilene airport.

Pope Francis will visit refugees in the “Welcome Center and Authentication” at Kara Tepe.

The President of the Republic, who arrived on the island half an hour earlier, will accompany the Primate of the Roman Catholic Church during his visit.

The two of them had a short conversation upon his arrival, while Metropolitan Iakovos welcomed him to the island.

The Vice President of the European Commission, Margaritis Schoinas, and the Minister of Immigration and Asylum, Notis Mitarachi, will also be in Kara Tepe.

The Pope will stay for about an hour at the “Reception and Identification Center” and at 12:15 he will leave Lesvos for Athens.

At 16:45 he will perform a Divine Liturgy at the Athens Concert Hall.

Greek Cuisine Program Kicks Off at the University of Nevada

Greek cuisine was recently introduced as a standalone program at the University of Nevada, Las Vegas (UNLV) which announced the establishment of the National Hellenic Society Culinary Legacy Fund to promote Hellenic heritage, culture, and cuisine to culinary arts students.

The initiative for the program belongs to The National Hellenic Society (NHS), a non-profit organization dedicated to perpetuating, celebrating, and passing on Hellenic heritage.

The program will run as part of the Food and Beverage Program within the UNLV’s world-renowned William F. Harrah College of Hospitality.

​Stowe Shoemaker, dean of the College, and his team hosted a reception for NHS members and guests attending the annual NHS Heritage Weekend event in celebration of the launch of the Fund.

NHS Guests included Her Excellency, Ambassador Alexandra Papadopoulou, Greece’s Ambassador to the U.S., David Horner, President of the American College of Greece, Alexander Zagoreos, Chair of the American School of Classical Studies at Athens, Nancy Papaioannou, President of Atlantic Bank, George Marcus, John Calamos, and Drake Behrakis, NHS Co-Founders, and NHS members from all over the U.S.

Master Chef Diane Kochilas launches Greek cuisine classes

The Fund’s initial program is the NEWS Program (NHS Epicurean Workshop Series) with Master Chef Diane Kochilas, star of My Greek Table, to kick off the NEWS Program. Chef Kochilas was thrilled to have the opportunity to teach the College’s hospitality students about wellness and other benefits associated with the Greek Mediterranean diet in several classes held over two days at the College.

The NHS will help bring other chefs, culinarians, and experts that will impart their insights into the Greek Mediterranean diet, culture, traditions, and lifestyle to students.

NHS Chair, Drake Behrakis emphasized NHS focus on its effort to pass on this important aspect of our Hellenic heritage and culinary legacy with students enrolled in the nation’s leading academic centers of hospitality.

“The kouzina plays an important role in our lives, where family, friends, and colleagues gather to engage in dialogue, reflect, laugh, and enjoy a wonderful meal in the spirit of parea/kinship. We look forward to collaborating to promote wellness and all the benefits of the Greek Mediterranean diet and to share Hellenic philoxenia/hospitality with the College’s students in hopes they will bring that spirit to others as they advance in their career paths throughout the U.S. and beyond,” Behrakis said.

​“We are grateful to be working on such a unique project with such amazing partners,”  Dean Shoemaker noted..

“Collaborating with the NHS means we’re able to give students a rich understanding of Greek culture and cuisine—exposure that helps these young people not only grow as hospitality professionals but also citizens of the world.”

State Department Appoints Officials to Address Havana Syndrome

Secretary of State Antony Blinken announced on Friday that the Biden Administration has appointed two officials to direct the State Department’s investigation into cases of Havana Syndrome.

Countries rush to buy Merck, Pfizer’s experimental Covid-19 pills

Merck & Co Inc has signed nine deals to sell more than about 3 million courses in total of its experimental Covid-19 pill molnupiravir to governments around the world as nations scramble to tame the pandemic.

Words of Wisdom from Ancient Greek Philosophers Featured in App

The “Greek Philosopher” app gathers more than six hundred of the most profound words of wisdom from the major schools of ancient Greek thought — and delivers them straight to you on your mobile device.

Based on original sources, this work is a compilation of carefully-selected quotes of ancient Greek philosophy spanning from the sixth century BC to the first

Thinkers from the Greek schools of Stoicism, Cynicism and Epicureanism are among the thirty-six Greek philosophers featured in the app.

Ancient Greek philosophy

Stoicism is a school of Hellenistic philosophy founded by Zeno of Citium in Athens in the early third century BC, who was greatly inspired by the teachings of Socrates. Stoicism is a philosophy of ethics, with or without a belief in God.

According to its teachings, the path to Eudaimonia (i.e. happiness, fulfillment, flourishing) for humans is found in fully accepting the moment as it presents itself; by not allowing oneself to be controlled by the desire for pleasure or fear of pain, by using reason to understand the world, and by treating others fairly.

According to Cynicism, social values, material goods and luxuries kept man away from true happiness — which can only be found by living in the simplicity of nature.

Epicureanism refers to a way of life that encourages its adherents to seek modest, sustainable pleasure in the form of a state of ataraxia (tranquility and freedom from fear) through knowledge of the workings of the world, and limiting their desires.

 

 

Economic Freedom in Greece Improving, Albeit Slowly

Greece has made its way up four positions in the Global Economic Freedom Index since 2019, but this movement establishes the country in just the 78th place out of 165, according to the Fraser Institute’s Economic Freedom of the World annual report.

The report was released on Tuesday in Greece and Cyprus by the Center for Liberal Studies.

Summer heatwaves this year break new records

The heatwave recorded this summer between July 28 and August 5 was a record-breaker in terms of duration and temperatures, according to a study by the National Meteorological Service.

The study divides the nine-day heatwave into two phases, the first from July 28-31 and the second from August 1-5. Very high temperatures were recorded during the first phase, but the maximums remained below the July records.

As the days went by the temperatures rose, with the result that in the first five days of August the maximum temperatures exceeded or approached the absolute maximum temperatures for August in several areas.

Record highs of August were recorded mainly in Serres (43.4C vs a previous 43.3C), Thessaloniki (40.5C vs 40.4C), Astros (45C vs 42.2C), Lamia (45.4C vs 43.8C), Elliniko (43C vs 41.8C), Elefsina (44.8C vs 43.5C), Argos (46.3C vs 43.2C), Kalamata (43.2C vs 41.4C) and Nea Philadelphia (45.3C vs 43.6C).

Uncertainty over reopening of schools

The educational system has never faced the kind of operational uncertainty it has faced in the last 20 months. A few weeks from the beginning of the scholastic year, heads of schools, parents, and teachers are baffled by the educational authorities’ lack of clear guidelines.

Admittedly the development of COVID-19 remains unpredictable with the consequence that the health authorities often have to reverse decisions aimed at accelerating the return to normality. No one can seriously challenge the concept that the government should give safety the highest consideration when issuing public health directives.

 

However, the long-term effects of preventing students from returning to the classroom after almost two years of disrupted teaching methods must never be underestimated. Students benefit from in-person learning, and safely returning to in-person instruction in autumn is also a priority.

The scant information coming from the education authorities indicates that post-secondary students will return to in-person learning in September. The majority of these students have been vaccinated, and as such, they present a lower risk of getting seriously ill if they contract COVID-19.

However, primary and secondary schools are likely to operate similarly to last year. This means mandatory indoor mask-wearing for all students, staff, teachers and visitors to primary and secondary schools regardless of vaccination status. It also means that the concept of the bubble will still be observed to prevent unnecessary contact.