An experiment inspired by Homer’s description of combat in The Iliad tested the capabilities of the Dendra armour suit from Greece’s Bronze Age

Watch President Donald Trump and the Greek prime minister’s joint news conference in the player above.

WASHINGTON — President Donald Trump says the U.S. stands with Greece as they recover from their economic crisis. He is speaking with Prime Minister Alexis Tsipras at the White House in a joint news conference.

The U.S. president says the two leaders have discussed defense, energy, commerce and trade.

Trump is praising Greece for its defense spending under NATO and is noting a potential sale to Greece to upgrade its F-16 aircraft, which he says would be worth up to $2.4 billion and generate thousands of U.S. jobs.

Tsipras says his country has made economic strides and is “leaving behind the economic model that led to the crisis.” He says Greece’s relationship with the U.S. is “more important than ever.”

The post WATCH: Trump and Greek prime minister hold joint news conference appeared first on PBS NewsHour.

Windex� Brand celebrates the upcoming launch of My Big Fat Greek Wedding 2

Greece's athletics federation suspends domestic events because of spending cuts - although they will still compete in London 2012.

Leiden : SIdestone Press, [2017]

London : Oneworld, 2014.

Edinburgh : Ian & Averil McHaffie, 2024.

Edinburgh : Ian & Averil McHaffie, 2022.

National Bureau of Economic Research

National Bureau of Economic Research

Mariketty Grana is back in the city with a permanent spot for her Greek restaurant, Thalassa

Greek Easter program 2007 was organized in co-operation with a local church and included youth work, painting and helping in the church. The program was very rewarding in many ways, here are some highlights.

Testimony of a Greek woman.

How OM is partnering with Greek churches to address the growing immigrant and trafficking situation

A Greek woman embarks on a lonely journey to the Transform 2013 conference in Rome, a journey that began when she accepted Christ at 19.

Still resilient after taking tough and early action, Greece can now look forward to a summer tourist season beginning in July

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When Pavlos Pandelides realised the coronavirus pandemic was moving west, he bought a plane ticket and flew from Athens to London. He then drove north to Nottingham to collect his daughter, a student at the city’s university, before returning with her the next day to Greece. An ardent admirer of all things British, the businessman had absolutely no doubt that what he was doing was right. “The British are fighters but I could see they were underestimating this,” he said.

While Covid-19 was tearing through northern Italy, Boris Johnson was still faltering, with his government showing worrying signs of complacency. There was, said Pandelides, no time to waste. “It was more than a protective father thing. It was clear they were about to really mess up.”

Greece could save its businesses hundreds of millions of euros a year and improve their competitiveness by reducing administrative burdens, according to a new OECD report.

Portugal is to take up to 60 unaccompanied children from Greek refugee camps, according to Socialist Party lawmaker Isabel Santos, as concern mounts over the impact of the coronavirus outbreak on the vulnerable group.

Vince Rossi and Jon Blundell from the Smithsonian’s Digitization Program Office (http://3d.si.edu) apply various 3-D capture methods on the pointed plaster model for the “Greek […]

The post 3-D Scanning “Greek Slave” at American Art appeared first on Smithsonian Insider.

Over 2500 tons of the air pollutants nitrogen oxides (NOx), sulphur dioxide (SO2) and particulate matter with a diameter of less than 2.5 micrometers (PM2.5) were released by cruise ships across the five busiest Greek cruise ports during 2013, a new study found. The researchers also examined the costs of the potential health impacts of this pollution, finding they could be as high as 24.3 million Euros.

A new mine could provide 1,500 jobs, but protestors say the environmental cost is too high.

The sieve of Eratosthenes is an ancient tool for finding primes, but it might get a boost by modern computing.

Actor says he would like to do for olive oil what director Francis Ford Coppola did for wine.

Olive Oil Organically Grown and Pure Enough to Carry the Name of the Father of Medicine

The sudden shutdown of all channels of Greece's national broadcasting company by the Greek government is 'unacceptable for an EU democracy', says West Mids and Warks Lib Dem MEP Phil Bennion.

In this episode of Views & Brews,  KUT’s Rebecca McInroy joins the hosts of KUT’s The Secret Ingredient podcast, Tom Philpott and Raj Patel, as they sit down with the eminent economist James K. Galbraith author of the forthcoming “Welcome to the Poisoned Chalice: The Destruction of Greece and the Future of Europe” to talk inequality, the Greek...

Step inside one of the beautiful open gardens on show during the Renmark Rose Festival. Artemis and Harry Ppiros are Greek immigrants who kept their green thumbs busy after retiring from their Riverland fruit block.

The Greek diaspora was a phenomenon that became an important part of our multicultural history and brought with it an innate understanding of what made for a first-class dining experience.

Dramatic, fiery and different every night, you'll never tire of looking at them. You'll bore everyone with photos of them. One of your friends proposed underneath one, while another made them the backdrop to her honeymoon. One thing's for sure, Santorini sure does a good sunset.

The Western world remains where it has been for some time, delicately poised between anaemic recovery and a shock that could tip us back into economic contraction.

Perhaps the most conspicuous manifestation of the instability is that investors can't make up their minds whether the greater risk comes from surging inflation that stems largely from China's irrepressible growth or the deflationary impact of the unsustainable burden of debt on peripheral and not-so-peripheral eurozone (and other) economies.

And whence do investors flee when it all looks scary and uncertain, especially when there's a heightened probability of specie debasement - to gold, of course.

Unsurprisingly, with the German finance minister, Wolfgang Schauble, implying that a writedown of Greece's sovereign obligations is an option, and with consumer inflation in China hitting 5.4% in March, there has been a flight to the putative safety of precious metal: the gold price hit a new record of $1,480.50 per ounce for June delivery yesterday and could well break through $1,500 within days (say the analysts). Silver is hitting 30-year highs.

In a way, if a sovereign borrower were to turn €100bn of debts (for example) into an obligation to repay 70bn euros, that would be a form of inflation - it has the same economic impact, a degradation of value, for the lender. But it is a localised inflation; only the specific creditors suffer directly (though there may be all sorts of spillover damage for others).

And only this morning there was another blow to the perceived value of a chunk of euro-denominated sovereign obligations. Moody's has downgraded Irish government debt to one level above junk - which is the equivalent of a bookmaker lengthening the odds the on that country's ability to avoid controlled or uncontrolled default.

Some would say that the Irish government has made a start in writing down debt, with the disclosure by the Irish finance minister Michael Noonan yesterday that he would want to impose up to 6bn euros of losses on holders of so-called subordinated loans to Irish banks.

But I suppose the big story in the eurozone, following the decision by the European Central Bank to raise interest rates, is that the region's excessive government and bank debts are more likely to be cut down to manageable size by a restructuring - writedowns of the amount owed - than by generalised inflation that erodes the real value of the principal.

The decision of the ECB to raise rates has to be seen as a policy decision that - in a worst case - a sovereign default by an Ireland, or Greece or Portugal would be less harmful than endemic inflation.

But is that right? How much damage would be wreaked if Greece or Ireland or Portugal attempted to reduce the nominal amount they owe to levels they felt they could afford?

Let's push to one side the reputational and economic costs to those countries - which are quite big things to ignore, by the way - and simply look at the damage to external creditors from a debt write down.

And I am also going to ignore the difference between a planned, consensual reduction in sums owed - a restructuring that takes place with the blessing of the rest of the eurozone and the International Monetary Fund - and a unilateral declaration of de facto bankruptcy by a Greece, Ireland or Portugal (although the shock value of the latter could have much graver consequences for the health of the financial system).

So the first question is how much of the impaired debt is held by institutions and investors that could not afford to take the losses.

Now I hope it isn't naive to assume that pension funds, insurance companies, hedge funds and central banks that hold Greek, or Irish or Portuguese debt can cope with losses generated by a debt restructuring.

The reason for mild optimism in that sense is that those who finance investments made by pension funds and insurers - that's you and me by the way - can't get their money out quickly or easily. We simply have to grin and bear the losses to the value of our savings, when the stewards of our savings make lousy investment decisions.

As for hedge funds, when they make bad bets, they can suffer devastating withdrawals of finance by their investors, as and when the returns generated swing from positive to negative. But so long as those hedge funds haven't borrowed too much, so long as they are not too leveraged - and most aren't these days - the impact on the financial system shouldn't be significant.

Finally, if the European Central Bank - for example - ends up incurring big losses on its substantial holdings of Greek, Portuguese and Irish debt, it can always be recapitalised by solvent eurozone nations, notably by Germany and France.

However this is to ignore the node of fragility in the financial system, the faultline - which is the banking industry.

In the financial system's network of interconnecting assets and liabilities, it is the banks as a cluster that always have the potential to amplify the impact of debt writedowns, in a way that can wreak wider havoc.

That's built into their main function, as maturity transformers. Since banks' creditors can always demand their money back at whim, but banks can't retrieve their loans from their creditors (homeowners, businesses, governments), bank losses above the norm can be painful both for banks and for the rest of us.

Any event that undermines confidence in the safety of money lent to banks, will - in a best case - make it more difficult for a bank to borrow and lend, and will, in the worst case, tip the bank into insolvency.

Which, of course, is what we saw on a global systemic scale from the summer of 2007 to the end of 2008. That's when creditors to banks became increasingly anxious about potential losses faced by banks from a great range of loans and investments, starting with US sub-prime.

So what we need to know is whether the banking system could afford losses generated by Greek, Irish and Portuguese defaults.

And to assess this, we need to know how much overseas banks have lent to the governments of these countries and also - probably - to the banks of these countries, in that recent painful experience has told us that bank liabilities become sovereign liabilities, when the going gets tough.

According to the latest published analysis by the Bank for International Settlements (the central bankers'central bank), the total exposure of overseas banks to the governments and banks of Greece, Portugal and Ireland is "just" $362.2bn, or £224bn,

Now let's make the heroic guess that a rational writedown of this debt to a sustainable level would see a third of it written off - which would generate $121bn (£75bn) of losses for banks outside the countries concerned.

If those loans were spread relatively evenly between banks around the world, losses on that scale would be a headache, but nothing worse.

But this tainted cookie doesn't crumble quite like that. Just under a third of the relevant exposure to public sector and banks of the three debt-challenged states, some $118bn, sits on the balance sheets of German banks, according to the BIS.

For all the formidable strength of the German economy, the balance sheets of Germany's banks are by no means the strongest in the world. German banks would not be able to shrug off $39bn or £24bn of potential losses on Portuguese, Irish and Greek loans as a matter of little consequence.

This suggests that it is in the German national interest to help Portugal, Ireland and Greece avoid default.

If you are a Greek, Portuguese or Irish citizen this might bring on something of a wry smile - because you would probably be aware that the more punitive of the bailout terms imposed by the eurozone on these countries (or about to be imposed in Portugal's case) is the expression of a German desire to spank reckless borrowers.

But as I have mentioned here before, reckless lending can be the moral (or immoral) equivalent of reckless borrowing. And German banks were not models of Lutheran prudence in that regard.

If punitive bailout terms make it more likely that Ireland, Greece or Portugal will eventually default, you might wonder whether there has been an element of masochism in the German government's negotiating position.

One of Europe's most influential bankers said to me the other day that he thought it would be a disaster if any of the eurozone's debt-stretched nations imposed a reduction in the value of their respective sovereign borrowings, or - to use the jargon - took a haircut on their debts.

For him, the eurozone approach of muddling through - providing IMF and eurozone loans to those countries that cannot borrow on markets - is the right approach, even if it hasn't actually solved anything for the eurozone in a permanent sense.

It is curious he should take that view, given that the rescues of Greece and Ireland that took place last year are already having to be renegotiated. And the bailout of those countries didn't stop the rot: Portugal is well into the process of obtaining emergency finance from eurozone and IMF.

Wouldn't it be better to cut what Greece - or Portugal or Ireland - owes down to a manageable size, in tandem with the imposed shrinkage of its public sector, to put its public finances back on a basis that is sustainable for the long term?

The markets are saying that's the only way forward. Over the course of a year, the market price of Greek government debt has fallen by more than half, for example. The yield on 10-year Greek government bonds is well over 15%. Which is an unambiguous statement from investors that there is not the faintest chance that they will lend to Greece again, unless and until its debt burden is reduced to a manageable size.

Or to put it another way, markets are presenting a simple choice to eurozone government heads and the IMF: they can continue to lend to Greece for an indefinite period, in the hope that Greece's economic growth will eventually pick up and generate incremental tax revenues, which would allow the Greek government to perhaps start paying down its debts; or they can bite the bullet and put Greece into the equivalent of what the Americans call Chapter 11 bankruptcy protection, to restructure and reduce what Greece owes so that it is consistent with the market price of all that debt.

Now as of this instant, option one looks a bit naive, in that what's happened subsequent to the first bailout of Greece a year ago is that its ratio of debt to GDP has been growing in leaps and bounds to more than 150% of GDP (and for more on the heroic challenges faced by Greece, see reports in the next day or two from Stephanie Flanders, who is in Athens).

So you would have expected my influential banker - who knows a thing or two about the markets - to be in favour of what the markets are saying is inevitable. Surely he should be calling for that most humiliating event for any creditor, a formal admission by Greece that it can't pay what it owes, which goes by the moniker of a haircut, or restructuring, or default?

But Mr Big Banker doesn't think that's the right way forward. His reasoning is that he fears a debt restructuring would weaken many of Europe's banks, such that they would be forced to raise new capital - perhaps from their respective governments. And, for reasons that slightly elude me, he sees that as a worse outcome than leaving Greece trapped in an unbreakably vicious cycle of economic decline.

The odd thing, however, is that the official statistics really don't seem to indicate that a haircut on Greek debt would be Armageddon for Europe's banks.

It would be a disaster for Greece's banks, that's certainly true, given that (according to Bank of England figures) a 50% writedown of Greek sovereign debt would wipe out more than 70% of their equity capital. Or to put it another way, they would be bust and would have to be recapitalised.

But, sooner or later, Greece's banks are going to need strengthening in any case. Fixing Greece's public finances won't fix Greece unless its banks are mended too. So any estimate of the costs of rehabilitating that country will include the price of providing new capital to the banks.

The more relevant question, perhaps, is what a Greek haircut would mean for banks outside Greece.

The latest figures from the Bank for International Settlements, published a few days ago, show that at the end of last year banks outside Greece had lent $146bn to Greek banks, companies and the public sector - down from $171bn three months earlier. And, of this, loans to the public sector (largely holdings of Greek government bonds) were $54bn.

To be clear, this doesn't take account of exposure through derivatives, credit commitments or guarantees. So the world's banks probably have a further $100bn exposure to Greece.

The sums at risk therefore look serious though not - on their own - potentially disastrous for the health of the financial system.

Now as luck would have it, the banks most at risk happen to be those of the eurozone's two largest and strongest economies, Germany and France. The exposure of German banks to Greece is $34bn, including perhaps $20bn of loans to the Greek government, while the exposure of French banks is $57bn, of which again around $20bn is probably sovereign lending

Now because of what some would say is the madness of how the global Basel rules - that measure the strength of banks - are applied, there would be a double whammy for eurozone banks if there were a write-off of Greek sovereign debt.

The banks with Greek sovereign exposure would have to reduce their respective stocks of capital by the amount of the loan loss. And they would have to inflate the size of their balance sheets, because the residual exposure to the Greek government would lose its official (and some would say insane) zero risk weighting. So the fall in the capital ratios of banks with exposure to Greece would be magnified in a painful way.

Of the larger listed banks, only one, the Franco-Belgian group Dexia, looks as though it would be seriously hurt by a Greek debt writedown. According to Morgan Stanley, Dexia has 4.9bn euros of exposure to Greek sovereign debt, equivalent to more than half the value of its equity capital. Dexia would be significantly weakened by a 50% Greek haircut.

Next at risk, according to Morgan Stanley, would be Commerzbank of Germany, with €3bn of Greek sovereign debt, equivalent to 15% of its capital. Meanwhile BNP Paribas and Credit Agricole of France, Erste of Austria, KBC of Belgium and Deutsche Bank of Germany all have meaningful though not devastating exposures.

Less visible is the Greek exposure of Germany's state backed landesbanks - which regulators tell me is considerable. But if they were to incur large losses on it, Germany could afford to recapitalise them.

So what is going on? Why are eurozone governments so wary of a restructuring or haircut of Greek sovereign debt, given that banks in the round won't be killed by the consequential hit?

There seem to be three reasons.

First, in Germany, it is apparently politically more acceptable to provide rescue finance to Greece directly than to rescue German banks that foolishly and greedily bought Greek debt for its relatively high yield.

Second, a Greek debt restructuring would be a severe blow to eurozone pride in the strength of the currency union.

Third, a Greek haircut might be the thin end of a large wedge. If it created a precedent for haircuts in Portugal and Ireland, the losses for the eurozone's banks would begin to look serious. But again, if there were just a trio of national debt haircuts, if the rot were to stop with Ireland and Portugal, eurozone governments could afford to shore up and recapitalise their banks.

That said, what the eurozone could not afford - or so regulators fear - would be haircut contagion to the likes of Spain and Italy.

But Spain and Italy are looking in better shape. Spain, for example, is taking steps to strengthen its second tier banks and its banks in general have become less dependent on funding from the European central bank (which is a proxy for their perceived weakness).

So here, I think, will be what will determine whether Greece gets its haircut in the next two or three months: if eurozone governments come to believe that Spain is well past the moment of maximum risk of financial crisis, there will be a bold restructuring of Greek debt.

But, to use that awful footballing expression, if they do go for a Greek debt haircut or writedown, it will be squeaky bum time in government buildings all over Europe.

The Greek Islands

Sailing In The Greek Islands

(University of Illinois at Urbana-Champaign, News Bureau) University of Illinois classics professor Clara Bosak-Schroeder writes about how the ancient Greeks thought about natural resources and how it is relevant to responding to climate change today.

Large outflows of educated young people escaping high levels of unemployment, in tandem with inflows of unauthorized migrants, pose a fresh set of challenges for Greek policymakers. This Transatlantic Council on Migration report examines Greek emigration, and its economic implications, before exploring policy directions to minimize the costs and maximize the benefits of this mobility.

6 chicken thighs 1 egg 1/2 cup polenta 1 tbsp. sumac 1 tsp cumin seeds salt flakes and freshly ground pepper, to season 60 ml (1/4 cup) pomegranate molasses Avocado Tzatziki: 1 cup)Greek-style yoghurt 1 ripe avocado, flesh coarsely mashed with a fork 3 Lebanese cucumbers, grated, squeeze to remove excess liquid 3 garlic cloves, crushed 1/4 cup chopped coriander leaves 1 tbsp. chopped mint leaves juice of 1/2 lime pinch of Himalayan salt

1/4 small watermelon vegetable oil, for deep-frying 50 g vine leaves in brine 1/3 cup plain flour 2 tbsp. extra-virgin olive oil, plus extra to garnish 500 g calamari, cleaned, scored and cut into bite-sized pieces, tentacles reserved salt flakes and cracked pepper 200 g green olives 200 g goat's curd, broken into small pieces

1 1/2 cups fine semolina 1 1/2 cups sugar 1/2 cups Greek yogurt 2 tsps. baking soda 1/2 tsp ground mastic resin, we are substituting ground fennel 3-4 tbsps. butter, melted slivered almonds For the syrup: 2 1/2 cups sugar 1 1/2 cups water 1 lemon, cut in half 1/2 tsp. rose water Dash of vanilla extract 1 cinnamon stick

250g Greek feta cheese 2 eggs 1 tsp. of smoked paprika 1 tsp. of freshly ground pepper 1/2 cup plain flour, enough to coat the feta 60g sesame seeds Sunflower oil for frying 4 tbsps. of local honey

150g panko crumbs 1 clove of crushed garlic 1 tsp. ground ginger 2 tsps. curry powder 1 tsp. ground cumin 2 tsps. ground coriander 1 tsp. black mustard seeds 1 tsp. chilli flakes 2 tsps. caster sugar Pinch of salt 3 free range eggs, beaten 100g plain flour with a pinch of salt 1 cauliflower, broken in to small florets Sunflower oil for deep frying Sauce: Handful of chopped parsley Handful of chopped coriander leaves Handful of chopped mint leaves 1 tbsp. tamarind paste 1 tsp. maple syrup 1 tbsp. olive oil 2 tsps. lime juice Pinch of salt 2 tbsps. water

400g ripe roma (plum) or pomodorino (baby plum) tomatoes 1 1/2 tablespoons chopped mint 1 teaspoon dried oregano 90g plain flour 1 teaspoon baking powder 1 teaspoon salt Light olive oil, or sunflower oil for pan-frying 250g Greek-style yogurt 1 tablespoon finely chopped dill Lemon wedges, to serve

A faculty member at Penn State Wilkes-Barre will be part of a collaborative fellowship program.

The Federal Reserve’s upgraded view that growth in the world's biggest economy is “solid”...