covid pandemic – Greek Homes http://greekhomes.info/ Sat, 16 Apr 2022 17:17:41 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 http://greekhomes.info/wp-content/uploads/2021/04/default.png covid pandemic – Greek Homes http://greekhomes.info/ 32 32 Where to Invest in South East Europe: A Guide http://greekhomes.info/where-to-invest-in-south-east-europe-a-guide/ Wed, 16 Mar 2022 08:14:32 +0000 http://greekhomes.info/where-to-invest-in-south-east-europe-a-guide/ Large cities such as Istanbul contribute to making Turkey a major FDI hub in South Eastern Europe. (Photo by Diego Cupolo/NurPhoto via Getty Images) After a sharp decline in 2015, the economy of South Eastern Europe grew year-on-year from 2016 to 2017. It then fell by 0.2% in 2018 and by 0.8% in 2019. Following […]]]>

After a sharp decline in 2015, the economy of South Eastern Europe grew year-on-year from 2016 to 2017. It then fell by 0.2% in 2018 and by 0.8% in 2019. Following the outbreak of the Covid-19 pandemic, it contracted by 4.2% in 2020. Here, Investment Monitor examines the economies of South Eastern Europe – Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Greece, Kosovo, Montenegro, North Macedonia, Romania, Serbia, Slovenia and Turkey – and compares them using various data points.

Turkey accounts for nearly half of the region’s total GDP

Turkey is the largest economy in southeastern Europe. At $720 billion, it accounted for almost half of the region’s GDP in 2020. It also recorded the highest population growth of any country analyzed at 1.1%.

Before Covid-19, Turkey was already struggling economically, with its GDP declining year on year since 2017. The country’s current currency and debt crisis can be largely attributed to President Recep Tayyip Erdogan’s refusal to raise interest rates to control inflation.

As a result, Turkey had by far the highest inflation rate in the region in 2020, at 12.3%, with the value of the Turkish lira falling to record lows. Economists have warned that the country’s economy will continue to suffer in 2022, with the Russian invasion of Ukraine expected to have a significant impact on tourism.

Romania is the second largest economy in the region, accounting for 16.9% of overall GDP. The country’s GDP grew year on year between 2016 and 2019, before contracting by 0.5% in 2020 following the outbreak of the Covid-19 pandemic.

The World Bank predicts that Romania’s GDP will grow by 7.3% in 2021. However, the success of the country’s recovery will depend on improving vaccination rates. Romania is currently one of the EU countries least vaccinated countries. In January 2022, less than 41% of the country’s adult population was fully immunized.

Greece is the region’s third-largest economy with $189 billion in 2020. The Greek government’s debt crisis amid the fallout from the 2008 global recession plunged the country’s economy into a deep recession. As a result, its GDP saw a year-on-year decline between 2009 and 2016. In 2020, GDP contracted by 8% due to the economic impact of Covid-19.

According to the OECD, Greece’s GDP is expected to grow by 6.7% in 2021 due to stronger than expected tourism activity. It also predicts the economy will grow just under 5% in 2022.

Cyprus had the highest GDP per capita of all countries analyzed at $26,624 in 2020. Key economic sectors include renewable energy, tourism, maritime transport and ICT. Cyprus is also becoming a leading European destination for investment funds and asset management companies.

According to figures from the Cyprus Securities and Exchange Commission, around 300 investment funds were based in the country in the third quarter of 2021, with a total of 11.6 billion euros ($12.73 billion) in assets under management.

Slovenia recorded a GDP per capita of $25,517 in 2020 – the second highest of any country assessed. The country’s economy is expected to grow by 5.9% in 20215.4% in 2022 and 3.2% in 2023, with domestic demand being the main driver of growth.

Kosovo had the lowest population growth rate in the region at -0.76% in 2020. Its GDP grew year on year between 2016 and 2019 before contracting by 2.3% in 2020. Since independence vis -towards Serbia in 2008, Kosovo began its transition to a market economy. However, it is still highly dependent on migrant remittances.

Montenegro is the smallest economy in Southeast Europe, accounting for 0.3% of the region’s GDP in 2020. The service industry is the largest in the country, which also focuses on tourism and banking. Montenegro aspires to join the EU by 2025.

Turkey and Romania in the lead for FDI

Prior to the Covid-19 pandemic, foreign investment flows into Southeast Europe were on the rise. Greenfield FDI increased year-on-year between 2017 and 2019. In 2020, the number of FDI projects fell by 39.5%, from 924 in 2019 to 559 in 2020. The overall value of FDI projects fell by 27.4%, from $21.9 billion to $15.9 billion.

Turkey is the best foreign direct investment (FDI) destination in the region. It attracted 203 projects in 2020, representing 57% of FDI from Southeast Europe. Turkey also saw the highest nominal increase in the value of FDI projects in 2020, attracting $3.9 billion in 2019 and $4.4 billion in 2020.

Foreign investors in Turkey benefit from access to its vast domestic market and its strategic location between Europe, the Middle East, Asia and Africa. Invest in Turkey, the country’s investment promotion agency, also offers one of the most competitive investment incentive schemes in emerging markets.

Turkey saw a 6.5% drop in the number of FDI projects in 2020. In early 2021, President Erdogan unveiled a new economic plan with the aim of encouraging foreign investment after Covid-19. It included less bureaucratic formalities, more legal protection and additional financial incentives for investors.

Romania is the second most popular FDI destination in South Eastern Europe. The country saw the largest nominal drop in the number of FDI projects in 2020, with a drop of 104 projects compared to 2019.

The automotive sector is a key investment area, with over 630 original equipment manufacturers producing automotive components in Romania. Other strategic sectors include IT, aerospace, agriculture and bio-industry.

Greece received 42 FDI projects in 2020, the third highest of all countries analyzed. It is the only country in the region to have experienced an increase in FDI projects between 2019 and 2020, with a growth of 0.2%.

North Macedonia experienced the largest percentage decrease in projects between 2019 and 2020. The number of FDI projects fell by 70% from 10 in 2019 to three in 2020. The country’s key sectors include textiles, pharmaceuticals and energy.

Croatia is the region’s top FDI destination in terms of projects per capita at 0.9 projects per 100,000 inhabitants in 2020. Investors include Austrian real estate company Supernova Invest, which opened a 17.9 million business park dollars in Pozega, and the Turkish hotel company Rixos, which opened a $24 million hotel. in Dubrovnik.

Serbia attracted 39 FDI projects in 2020, a significant drop from 114 in 2019. In November 2020, Japanese company Nidec announced plans to open a new $1.9 billion electric vehicle engine plant in Novi Sad, producing up to 300,000 units per year.

Montenegro’s FDI project values ​​in 2020 accounted for 18.3% of its GDP, the highest of all countries analyzed.

Where is the best place to do business in South Eastern Europe?

In Greece, it takes just four days on average to start a business, a substantial reduction from the 38 days it took in 2003. Greece also recorded the highest number of fixed broadband subscriptions of all countries analyzed at 40.8 per 100 people.

In 2020, the Greek government implemented a series of reforms to reduce bureaucracy and create a more business friendly environment, including reducing its corporate tax rate from 28% to 24%. Despite this, Greece still has the highest corporate tax rate in South Eastern Europe.

Montenegro has the lowest corporate tax rate of all countries analyzed at 9% in 2020.

In Bosnia and Herzegovina, it takes an average of 80 days to start a business – the highest of all the countries analyzed. The country is also the most corrupt country in southeastern Europe along with North Macedonia. Both countries scored 35 out of 100 in Transparency International’s 2020 edition of the Corruption perception index.

Slovenia was the most impressive on the Corruption Perceptions Index, with a score of 60 in 2020.

Greece scores high on livability?

Greece had the highest life expectancy of any Southeast European country in 2020 at 81.9 years. The country also had the highest tertiary enrollment rate of any country analyzed, at 149% in 2020.

Regionally, the unemployment rate in South Eastern Europe is high with an average of 11.1% in 2020. Romania had the lowest unemployment rate in the region at 4.8%. The highest rate was in North Macedonia at 18.4%. In January 2020, the Improving data quality and strengthening policy-making in North Macedonia project was launched, an EU-funded initiative to reduce unemployment and skills mismatch.

Bulgaria had the highest age dependency ratio – the ratio of dependents to working-age population – of any country analyzed at 56.6% in 2020. This is due to the large elderly population of the country, which has been further aggravated by increased emigration, high death rates and low birth rates.

Albania is the greenest country in southeastern Europe

Renewable energy sources accounted for 100% of Albaniaof the energy mix in 2018. Hydroelectricity is the main source of energy in the country at 99.6%, with solar energy representing 0.4%. As a result, Albania is highly dependent on annual rainfall for electricity generation, which can lead to significant fluctuations in national energy production.

Albania launched its National Energy Strategy in 2018. The plan aims to develop an efficient and effective energy sector that ensures the security of its energy supply.

Turkey is responsible for the highest number of carbon emissions of all the countries analyzed. It accounted for more than half of all emissions in the region in 2020. The country aims to reduce its greenhouse gas emissions by up to 21% by 2030.

In addition, Turkey has announced its intention to diversify its electricity mix. It intends to increase its electricity production from solar energy to ten gigawatts (GW) by 2030 and from wind energy to 16 GW.

Kosovo relies heavily on fossil fuels, which accounted for 95.1% of its electricity mix in 2018. The country depends almost entirely on two lignite-fired power plants for its electricity generation. Kosovo plans to unveil its first national energy plan in 2022, which will focus on integrating more renewable energy sources.

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Journey Life Church to honor pastor for 40 years of service http://greekhomes.info/journey-life-church-to-honor-pastor-for-40-years-of-service/ Sat, 12 Mar 2022 09:29:14 +0000 http://greekhomes.info/journey-life-church-to-honor-pastor-for-40-years-of-service/ Bruce Philippi has pastored five generations of Donna Caudill’s family. “Longevity is part of his character,” Caudill said. “He invests in people and he wants to see them grow.” Philippi has pastored Journey Life Church for 40 years. He will be recognized by a special dinner tonight at the church. “It’s a belief that this […]]]>

Bruce Philippi has pastored five generations of Donna Caudill’s family.

“Longevity is part of his character,” Caudill said. “He invests in people and he wants to see them grow.”

Philippi has pastored Journey Life Church for 40 years. He will be recognized by a special dinner tonight at the church.

“It’s a belief that this is where I’m meant to be,” Philippi said. “We’re sort of the pastor of the town. I feel a calling.”

Misti Wilson works closely with Philippi as the church administrative assistant.

“He’s a special father to so many people, especially these days,” she said. “For the past two years he has been a beacon for those suffering through the storm of COVID.”

Philippi, 67, was born in Minnesota. He spent six years in the navy.

“We were overseas in Athens, Greece,” Philippi said. “We went to a Baptist missionary, and I was saved.”

Bruce Philippi will be honored with a special dinner on Saturday March 12 at the church.

He was then stationed in Norfolk, Virginia, where he married his wife Gloria. They are located in Cleveland, Tennessee. Philippi attended Lee University and earned a bachelor’s and master’s degree.

“We started a church while we were there,” he said of the 1978-82 time.

This means that Philippi has actually been a pastor for 44 years.

Philippi moved to Mansfield in 1982

In 1982 he came to Mansfield after being assigned to the Roseland Church of God on Belmont Avenue.

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Aussies deserve a pay rise — Greek City Times http://greekhomes.info/aussies-deserve-a-pay-rise-greek-city-times/ Fri, 11 Mar 2022 22:15:53 +0000 http://greekhomes.info/aussies-deserve-a-pay-rise-greek-city-times/ Australians are hard workers. From factory floors to hospital wards and office towers, workers are settling in. They go to work so they can take care of themselves and their families. In return for their hard work, Australians expect fair pay and pay to keep up with the cost of living so that we can […]]]>

Australians are hard workers.

From factory floors to hospital wards and office towers, workers are settling in. They go to work so they can take care of themselves and their families.

In return for their hard work, Australians expect fair pay and pay to keep up with the cost of living so that we can move forward. This is part of the social pact.

But right now, wages are falling. The small pay raises we get are more than wiped out by inflation driving up the cost of living.

None of this will come as a surprise to anyone managing the family budget or spending time in supermarkets and gas stations. It really seems like everything is going up except our salaries.

Since the Coalition took office in 2013, salaries have increased by 18%.

But the price of beef has gone up 64%. Fruit and vegetable prices have increased by 22%, child care costs by 44% and healthcare costs by 33%.

The cost of a leg of lamb for a Sunday roast has increased by 49% since the Coalition took over. And if you want to wash it down with a cold beer, the price of your favorite beer has gone up 26%.

It shouldn’t be like this.

But Scott Morrison is happy with the situation. In 2019, former finance minister Mathias Cormann said low wage growth was “a deliberate feature of our economic architecture” so that jobs were not at risk.

It’s a lazy escape from a political group that thinks governments have no role to play in managing the economy in the national interest.

Companies can raise wages without cutting jobs.

Productivity is the key.

If our economy becomes more productive – if we can produce more from the same inputs – both sides of the workplace equation can be winners.

A Labor government will tackle wage stagnation head-on in consultation with business, unions and other levels of government. We will convene a jobs summit to bring these groups together around the table and craft a new Australian productivity agenda that also includes measures to improve job security and remove barriers to full employment.

Cooperative and collaborative work.

In the 1980s and 1990s, the Hawke and Keating Labor governments achieved real productivity gains by encouraging employers and unions to work together.

Profits have increased. Salaries too.

Productivity growth stalled under the watch of Scott Morrison. The government’s own Productivity Commission reported that labor productivity was 0.56% in 2019/20 – well below the long-term average.

For nearly a decade in power, the Coalition had no productivity agenda. And instead of fostering collaboration in the workplace, they stoked conflict to satisfy their ideological distaste for the labor movement.

This must change. Australians deserve a government that sees wage growth as a goal, not a problem.

The government can do more to boost productivity.

It can start with appropriate investments in roads and railways that reduce congestion and allow people and goods to move more efficiently. It can reduce the cost of doing business.

However, the Morrison government wasted scarce infrastructure funds by shifting grant funds to curry favor with marginal seats.

We had Sports Rorts and Carpark Rorts – both condemned by the Auditor General. And the government has set aside $16 billion for decisions made but not yet announced, the funding people could reasonably expect given Mr Morrison’s form, will be used for the pork barrel in the coming elections.

Mr Morrison has completely ignored government regulatory reform aimed at reducing the cost of doing business.

Regulatory reform is essential to productivity.

For many years prior to the election of the current government, prime ministers on both sides of politics worked with state and local governments to reduce business costs by reducing bureaucracy.

As transport minister in the previous Labor government, I worked with my state and territory counterparts to reduce the number of transport regulators from 23 to just three.

Streamlining the system created a $30 billion dividend for the national economy over the next two decades.

The Morrison government has no record of regulatory reform. In effect, it abolished the Council of Australian Governments which, since 1992, had been the main vehicle for regulatory reform in that country.

When governments work together, they can accomplish a lot for our country on many fronts.

However, as we have seen during the Covid pandemic, Mr Morrison’s habit is to fight with Labor state governments, rather than working with them for national progress.

I have no interest in unnecessary conflict. I want results that serve Australians in the way they live their daily lives.

After nearly a decade of inaction on productivity and regulatory reform, there’s no way Liberals and Nationals will suddenly discover these concepts if reelected.

Australia needs a government with the ideas and energy to kick-start wage growth, ease cost of living pressures and deliver a brighter future for Australian families.

We’ve already announced plans for direct relief, including making childcare affordable, bolstering health insurance and offering free TAFE classes in labor shortage areas.

We will also do the hard work on economic reform to generate sustained economic growth that can benefit the many, not just the few.

Anthony Albanese is the leader of the Australian Labor Party

Website: www.anthonyalbanese.com.au

Instagram: @albomp

Facebook: Anthony Albanese

Twitter: @AlboMP

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Families separated by pandemic failures

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Oceanpal Inc. Announces Cancellation of Time Charter http://greekhomes.info/oceanpal-inc-announces-cancellation-of-time-charter/ Fri, 18 Feb 2022 22:30:00 +0000 http://greekhomes.info/oceanpal-inc-announces-cancellation-of-time-charter/ ATHENS, Greece, Feb. 18 12, 2022 (GLOBE NEWSWIRE) — OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping company specializing in vessel ownership, today announced the termination of the time charter contract with Crystal Sea Shipping Co., Limited for its Panamax dry bulk carrier, the m/v Calipso, as announced on February 11, 2022. The charterers […]]]>

ATHENS, Greece, Feb. 18 12, 2022 (GLOBE NEWSWIRE) — OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping company specializing in vessel ownership, today announced the termination of the time charter contract with Crystal Sea Shipping Co., Limited for its Panamax dry bulk carrier, the m/v Calipso, as announced on February 11, 2022. The charterers exercised their right to cancel the time charter contract as the vessel was not delivered , due to unforeseen circumstances. delays in docking and unloading operations, unrelated to the state of the ship, within the time agreed in advance.

The Company also announced today that, through a separate wholly-owned subsidiary, it has entered into a time charter agreement with Atlantic Coal And Bulk Pte. ltd. for the aforementioned vessel, at a gross charter rate of US$17,850 per day, less 5% commission paid to third parties, for approximately twenty-five (25) days. The charter started earlier today.

Calipso is a 73,691 dwt Panamax dry bulk carrier built in 2005.

The OceanPal Inc. fleet currently consists of 3 bulk carriers (1 Capesize and 2 Panamax). A chart describing OceanPal Inc.’s current fleet can be found on the company’s website, www.oceanpal.com. Information contained on the Company’s website does not form part of this press release.

About the company

OceanPal Inc. is a global provider of shipping services through its ownership of vessels. The Company’s vessels currently transport a range of dry bulk cargoes including commodities such as iron ore, coal, grain and other materials along global shipping lanes and it is expected that the vessels of the Company will primarily be employed on short term charters and travel after the completion of their current employment.

Forward-looking statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements to encourage companies to provide forward-looking information about their businesses. Forward-looking statements include statements regarding future plans, objectives, goals, strategies, events or performance, as well as underlying assumptions and other statements.

The Company wishes to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and includes this disclaimer as part of such safe harbor legislation. The words “believe”, “anticipate”, “intend”, “estimate”, “anticipate”, “project”, “plan”, “potential”, “may”, “should”, “expect to”, “pending” and similar expressions identify forward-looking statements.

The forward-looking statements contained in this press release are based on various assumptions, many of which are based, in turn, on other assumptions, including, without limitation, the company’s management’s review of trends historical operating records, data contained in company records and other available data. of third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company does not cannot assure you that it will meet or achieve these expectations. , beliefs or projections.

In addition to these important factors, other important factors that the Company believes could cause actual results to differ materially from those discussed in the forward-looking statements include the severity, magnitude and duration of the COVID-19 pandemic, including the impacts of the pandemic and corporate and government responses to the pandemic on our operations, our people and on demand for bulk product shipping; the strength of global economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in shipping costs, Company’s operations, including bunker prices, dry docking and insurance costs, the market for the Company’s vessels, the availability of financing and refinancing, changes in government rules and regulations or actions taken by regulatory authorities, potential liability arising from pending or future litigation, general national and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and cases of non-hiring and other factors. Please see the Company’s filings with the United States Securities and Exchange Commission for a fuller discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statement, whether as a result of new information, future events or otherwise.

Corporate Contact:
Ioannis Zafirakis
Director, President, Interim Chief Financial Officer and Secretary
Phone: +30-210-9485-360
E-mail: izafirakis@oceanpal.com
Website: www.oceanpal.com
Twitter: @OceanPal_Inc

Investor and Media Relations:
Edward Nebb
Comm-Advisors, LLC
Phone: +1-203-972-8350
E-mail: enebb@optonline.net

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Greek farm protests are a sign of inflationary anxiety in Europe http://greekhomes.info/greek-farm-protests-are-a-sign-of-inflationary-anxiety-in-europe/ Fri, 18 Feb 2022 07:10:21 +0000 http://greekhomes.info/greek-farm-protests-are-a-sign-of-inflationary-anxiety-in-europe/ Farmer Dimitris Kakalis, 25, fills a water tank in the central Greek town of Tyrnavos on Sunday February 13. Economists, farmers and charity workers agree on a crisis in the cost of living in Europe: inflation may ease later this year, but the impact of soaring food prices and the energy will last. [Giannis Papanikos/AP] […]]]>

Farmer Dimitris Kakalis, 25, fills a water tank in the central Greek town of Tyrnavos on Sunday February 13. Economists, farmers and charity workers agree on a crisis in the cost of living in Europe: inflation may ease later this year, but the impact of soaring food prices and the energy will last. [Giannis Papanikos/AP]

TYRNAVOS – In the rural heartland of Greece, tractors have become a symbol of anxiety.

For weeks, they have been parked along highways across the country, their owners threatening to block traffic. Farmers desperately need additional financial assistance to cope with soaring energy prices that are driving up their fuel and fertilizer costs, posing a sudden threat to their livelihoods.

“Take the fertilizer: last year we were paying 500 euros ($570) per ton. Now it’s like buying land. It’s 1,700 to 1,800 euros,” said Dimitris Kakalis, a 25-year-old farmer from central Greece who joined the protests.

Soaring energy prices and its ripple effects, he says, are affecting every aspect of his winery and fisheries business – it costs more for gasoline to power farm machinery, electricity to power irrigation pumps and weed killer.

“To these [prices]we are going to ruin,” he said.

The sting of high energy prices – which have driven high inflation figures for decades – is being felt across Europe and around the world, adding to the financial strain on governments, businesses and households. Countries are scrambling to cope with expensive utility bills and rising food prices as farmers and supermarkets pass their costs on to customers, many of whom are facing a cost of living crisis.

Turkish police have been ordered to inspect grocery stores to ensure that a new food sales tax cut is implemented, with President Recep Tayyip Erdogan promising ‘tough penalties’ for those who defy measure. For some in agriculture, they have to bear the extra costs: egg farmers in France recently bombarded the windows of the headquarters of a major supermarket chain to demand higher retail prices as energy costs weigh heavily .

In Greece, inflation is at its highest level in 25 years and price increases for many food staples are in double digits: vegetables are up more than 14% from a year ago, olive oil is up over 15% and some types of meat are up over 17%.

At a neighborhood grocery store in Athens’ central Petralona district, shoppers who pick up a few items say they now carry a 20 euro note with them instead of the 10 they needed last year.

“You have to cut some things [out] to be able to manage his monthly groceries and the farmer’s market,” explains Antonia Kalantzi, a 38-year-old sports coach. “Things are quite difficult compared to what I remember two years ago. The prices have gone up a lot. »

Farmers feel the same pain as they try to stay afloat. They are lobbying the government to provide additional help on their electric bills, lower fuel sales taxes and other demands.

Kakalis splits his time between his farm and a roadside protest near Tyrnavos, a town 380 kilometers (235 miles) north of Athens. Protesters have not decided when – or if – they will block traffic through Greece.

Kakalis stands in a circle with other men, warming his hands by burning scrap wood, the discussion focusing on the long-term effects that rising energy prices are likely to have.

“Unfortunately, we cannot rule out the scenario that food and energy prices will be permanently higher, which means that, you know, it’s not just a shock this year, but also in years to come,” said Zsolt Darvas, an economist and senior fellow at Brussels think tank Bruegel.

Like many other countries in the European Union, Greece has rushed to provide subsidies, tax cuts and other temporary measures to help households pay their electricity bills. But the prospects for longer-term aid are unclear. The EU has promised to reintroduce tough government budget rules next year after allowing emergency spending during the Covid-19 pandemic.

Darvas is optimistic that prices will eventually stabilize this year. But the pain for low-income households is expected to last much longer.

“The poorest 20% of the population spend much, much more on energy and food. They basically spend two-thirds of their budget on housekeeping [bills] and food,” the economist said.

“The top 20%, however, spend about a third of that. It is therefore clear that the huge increases in energy and food prices in the European Union mainly affect the poorest people,” said Darvas.

Charity groups say the effects of the pandemic and the cost of living crisis are clear, with some people growing increasingly desperate even as the wider economy expands.

“The gap between the poor and the rest of society is widening, and what we are seeing is shocking,” said Constantine Dimtsas, director of Apostoli, the country’s largest charity affiliated with the Greek Orthodox Church.

He says the association distributes 7,000 boxes of food per month to needy families in Athens, up from 2,500 in 2019. The daily number of meals distributed, around 20,000, has quadrupled.

“It’s of course that unemployment goes down and we have growth,” Dimtsas said. “But we see a part of society that doesn’t always show up in official statistics. He is growing and worries us a lot. [AP]

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Sean McVay and his fiancée Veronika Khomyn’s sweetest couple moments http://greekhomes.info/sean-mcvay-and-his-fiancee-veronika-khomyns-sweetest-couple-moments/ Sat, 12 Feb 2022 16:35:00 +0000 http://greekhomes.info/sean-mcvay-and-his-fiancee-veronika-khomyns-sweetest-couple-moments/ Sean McVay and fiancee Veronika Khomyn are a strong team. Khomyn, a luxury real estate agent from Ukraine, has supported the Rams coach on his comeback journey to the Super Bowl — and some might call him his lucky charm. McVay was dating Khomyn when the Rams hired him as head coach in 2017 and […]]]>

Sean McVay and fiancee Veronika Khomyn are a strong team.

Khomyn, a luxury real estate agent from Ukraine, has supported the Rams coach on his comeback journey to the Super Bowl — and some might call him his lucky charm.

McVay was dating Khomyn when the Rams hired him as head coach in 2017 and stuck by his side when the team lost to Tom Brady and the Patriots in Super Bowl 53. She will most likely cheer on McVay from SoFi Stadium on Sunday. , when his The Rams take on the Bengals in the 2022 Super Bowl.

Sean McVay’s fiancée Veronika Khomyn has long been the Rams head coach’s biggest fan
Instagram/Veronika Khomyn

But long before the couple moved to Los Angeles, they were stationed in Washingtonwhere McVay served as tight ends coach and offensive coordinator for the Redskins (now Commanders) from 2011-2016.

In January 2017, McVay was named head coach of the Rams, making history as the youngest head coach in the modern era. In the days following the hiring, Khomyn celebrated McVay on Instagramsharing a black and white snap captioned: “My love.”

In his first two seasons with the Rams, McVay made back-to-back playoff appearances, including the Super Bowl in February 2019. Although he didn’t walk away with a championship ring at the time, he introduced Khomyn with his own square-cut sparkler in June 2019, when he popped the question.

The couple announced their engagement in June 2019
The couple announced their engagement in June 2019
Instagram/Veronika Khomyn

Although the Rams missed the playoffs in 2019 and were eliminated by the Packers in the Divisional Round the following year, change was coming to Los Angeles in the form of quarterback Matthew Stafford.

In January 2021, the Rams acquired Stafford in a blockbuster trade from the Lions that sent quarterback Jared Goff to Detroit and Stafford out west. Prior to the trade, McVay and Stafford had bonded while on a Mexican vacation.

Khomyn joined McVay for a celebratory dinner with Stafford and his wife, Kelly, Sports Illustrated reported.

McVay and Khomyn traveled the world together during their years-long romance
McVay and Khomyn traveled the world together during their years-long romance
Instagram/Veronika Khomyn

This season, long-awaited as a Super Bowl or a failure for the Rams, Khomyn has become a fixture at SoFi Stadium. At the start of the 2021-22 season, Khomyn shared an on-court photo with McVay, whom she dubbed “Mcbae” in a 2018 post on instagram.

When the Rams hit the road during the playoffs in January, Khomyn hugged McVay in Tampa Bay after a Divisional Round victory over the Buccaneers — the day before McVay’s 36th birthday, no less.

While the 2022 Super Bowl is definitely on their minds, another game-changing event in the near future: their upcoming nuptials.

Khomyn joins McVay on the sidelines at SoFi Stadium
Khomyn joins McVay on the sidelines at SoFi Stadium
Instagram/Veronika Khomyn
McVay during the NFC Championship in January 2022
McVay during the NFC Championship in January 2022
Getty Images

During an Instagram Q&A in March 2020, Khomyn said the couple would have a destination wedding.

“Things are going well and every little detail makes me so excited,” she teased at the time.

Khomyn also said the couple spent much of their time in quarantine during the COVID-19 pandemic discussing wedding plans, working out, playing board games and relaxing at home. .


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The future husband and wife also love “adventuring” together, having traveled to Paris, the Bahamas and Greece throughout their years-long romance.

Then the wedding (and maybe a Super Bowl ring).

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Omicron pushes global growth to lowest level in a year and a half http://greekhomes.info/omicron-pushes-global-growth-to-lowest-level-in-a-year-and-a-half/ Tue, 08 Feb 2022 10:04:16 +0000 http://greekhomes.info/omicron-pushes-global-growth-to-lowest-level-in-a-year-and-a-half/ The Omicron wave disrupted activity in manufacturing and services, suppressing demand and exacerbating labor supply problems in January, economists said. Chris Williamson Chris Williamson, chief economist at IHS Markit, shared an article about the Omicron wave pushing global economic growth to its lowest level in a year and a half. Although the easing of Covid-19 […]]]>

The Omicron wave disrupted activity in manufacturing and services, suppressing demand and exacerbating labor supply problems in January, economists said.

Chris Williamson

Chris Williamson, chief economist at IHS Markit, shared an article about the Omicron wave pushing global economic growth to its lowest level in a year and a half. Although the easing of Covid-19 restrictions would help revive the expansion, other headwinds could outweigh this momentum, economists say.

Rising Covid-19 infection rates and its economic fallout slowed global economic growth to an 18-month low in early 2022. According to the JPMorgan Global PMI compiled by IHS Markit, global output in the manufacturing and services fell from 54.3 in December to 51.4 in January, its lowest since July 2020 and the second lowest seen during the recovery from the initial pandemic shutdowns of early 2020.

Weaker PMI output data coincided with surges of Covid-19 around the world, with record new cases of the virus reported in economies including the United States, Europe and Japan in the first month of the year. Despite evidence of declining case numbers, cases remain high, often at unprecedented levels.

The easing of Covid-19 restrictions in February and March is expected to revive the global economy again, although uncertainty around the Omicron variant still remains uncertain.

Raphael Domenech

Rafael Domenech, head of economic analysis at BBVA Research and professor of economics at the University of Valencia, tweeted about European Central Bank (ECB) rate expectations weighing on Greek and Italian government debt. As a result, borrowing costs for southern eurozone governments jumped near pre-Covid highs on Monday, as investors adjusted to signs from the ECB to raise interest rates as early as this year to contain inflation.

The ECB plans to raise rates for several months and maintain favorable financial conditions until the eurozone has fully recovered from the Covid-19 pandemic. It is also convinced that inflation will settle in the medium term at its target of 2%.

However, ECB President Christine Lagarde signaled a hawkish turn by refusing to rule out rising rates this year. Klaas Knot, the head of the Dutch central bank, also pushed interest rates higher at the end of this year, warning that eurozone inflation is expected to remain at 4% for most of 2022. This led to the yield on ten-year Italian bonds. bonds rose 0.1 percentage point to 1.84%, returning to April 2020 levels just after the Covid-19 hit.

Andre Leigh

Andrew Leigh, Member of Australian Parliament and former professor of economics at the Australian National University, tweeted about the JobKeeper payment system helping to save jobs and support businesses during the Covid-19 pandemic in Australia. However, the Morrison government didn’t have to give it to high-fee schools with rising profits because it wasn’t the ideal way to use taxpayers’ money during a recession or pandemic.

About 24 private schools in Western Australia (WA) that cater to the most privileged students raised a combined total of $77 million through federal JobKeeper payments during the 2020 pandemic, enabling most to make healthier profits than before Covid.

The federal support scheme that was enacted in 2020 required businesses to show or forecast a 30-50% drop in revenue due to the impact of the Covid-19 crisis. All but one of the private schools in WA have made a profit from the JobKeeper payment scheme, in addition to increasing profits over the previous year, with experts calling JobKeeper a “sauce train” for private schools.

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Inflation: where are we going now? http://greekhomes.info/inflation-where-are-we-going-now/ Sat, 05 Feb 2022 18:30:07 +0000 http://greekhomes.info/inflation-where-are-we-going-now/ In the last two decades alone, Congress and several administrations, with the full support of the Federal Reserve, have increased our budget deficit to over 130% of GDP with no end in sight. This increase placed the United States among the 10 worst deficits in the world, alongside Greece and Italy. According to the recent […]]]>

In the last two decades alone, Congress and several administrations, with the full support of the Federal Reserve, have increased our budget deficit to over 130% of GDP with no end in sight. This increase placed the United States among the 10 worst deficits in the world, alongside Greece and Italy. According to the recent US Treasury Department report U.S. government financial report“Current US fiscal policy is unsustainable.”

This cannot continue and the Federal Reserve must immediately stop aiding and abetting it. The scourge of inflation is upon us again. For a playbook on how we might deal with it, we can look to the period from the late 1970s to the 1980s, when we dealt with it successfully, albeit with pain and suffering. extreme disturbances.

The cause of inflation during the 1970s is simple. President Kennedy was assassinated in 1964 and Vice President Lyndon Johnson became President. Johnson decided to dramatically expand an already costly and wildly unpopular war in Vietnam without raising taxes to pay for it. Then he declared a very expensive war on poverty by implementing hugely expensive welfare programs, again without raising taxes to pay for them.

The Federal Reserve expanded the money supply to meet massive deficit spending and kept interest rates at moderate levels. President Nixon inherited both the war in Vietnam and growing deficits, but he was so weakened by the Watergate scandal that he had little political capital to devote to fighting inflation and was eventually forced to resign from his post.

When President Carter was elected in 1976, rapidly rising prices, particularly of oil used to heat homes and power cars, became a major political issue. The impact has been felt across the financial world, putting pressure on interest rates and threatening banks and thrifts, especially those that provide long-term fixed-rate loans.

Carter turned to Paul Volcker, then president of the Federal Reserve Bank of New York, appointing him chairman of the Federal Reserve Board in 1979 with a mandate to do whatever it took to stamp out inflation. Volcker responded with alacrity, boldness and determination, eventually raising the prime rate to an unheard-of 21.5%.

This in turn led to two recessions, a depression in the agricultural sector, a crash in energy prices, massive business and personal bankruptcies, as well as more than 3,000 bank and savings bankruptcies, some of which of the largest banks in the country. Things were so serious that the Fed and the Federal Deposit Insurance Corporation (FDIC) were planning for the possible nationalization of the nation’s largest banks if their loans to third world countries defaulted.

Everyone involved in the implementation of these policies believed that we had no realistic choice. The longer it took to eradicate inflation, the more pain and hardship it would inflict, especially on our middle and lower income Americans.

In addition to monetary policy, fiscal policy today is much looser than in the 1970s. Federal debt stood at $5.5 trillion, or about 55% of GDP, at the end of the Clinton administration. in 2000. Just over 20 years after Clinton’s departure, the federal deficit had increased nearly sixfold, much of which was monetized by the Fed.

President BidenJoe Biden Dr. Hiro Yoshikawa: Cash aid benefits young children living in poverty US officials say Russia has 70% of troop build-up needed for full invasion: reports The ruling class and the Supreme Court MORE shows no sign of wanting to urge Fed Chairman Jerome PowellJerome PowellInflation: where are we going? Balance/Sustainability – Beijing pollution halved since last Olympics Fed pick of Biden faces GOP fire on climate stances MORE follow in Volcker’s footsteps. Powell, like his two immediate predecessors, shows no sign of wanting to either. Nor does there seem to be much appetite among congressional leaders to go down this road. The COVID-19 pandemic took center stage about two years ago. Congress, backed by two administrations, has pumped trillions into it with a seemingly insatiable desire to increase spending even more – to hell with the inflationary consequences.

The Volcker playbook used to defeat inflation in the 1980s may not work this time around. Monetary policy has been out of control for far too long and the Fed has carved out such a big role for itself in financing the government’s huge budget deficit (in addition to supporting housing markets) that we might be hooked and not not be able to come out of the top – at least not without more pain than our current leaders are able to tolerate.

We have already criticized the policy of the Fed obsession with raising the inflation rate to 2% and called on the Fed to immediately begin normalizing/raising market interest rates. We observed that the Fed’s ultra-low interest rates “benefited primarily the wealthy, with weak income growth for middle- and low-income Americans, including retirees trying to live off their pensions.”

We then urged the Fed to “start trimming… its bloated balance sheet and let the markets start working properly.” We noted that prior to recent years, the “Fed balance sheet had never reached $1 trillion,” but in 2017 “it is over four trillion dollars, or nearly 25 % of total federal government debt”.

We also noted that “the Fed’s eight-year intervention in the markets [had] helped push asset prices to bubble-like levels, including the stock market, long-term bonds, at least some commercial real estate and other assets, [which are now] starting to show signs of stress… [while the] the incomes of a substantial and growing number of Americans are stable or falling, and still too many people who want to work cannot find decent jobs.

Ironically, we are today in the opposite situation where there are twice as many jobs available as there are unemployed people receiving government aid which does not oblige them to look for a job.

Our calls – and those of the former Volcker over the same period – for sound monetary and fiscal policies have gone unheeded. It is high time to put an end to reckless spending and the monetary policies that allow it.

William M. Isaac, former Chairman of the FDIC and Fifth Third Bancorp, is currently Chairman of Secura/Isaac Group and Blue SaaS Solutions.

richard Mr. Kovacevich is a retired Chairman and Chief Executive Officer of Wells Fargo & Company.

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Greek investments in Bulgaria: what will happen after Covid-19? / Bulgaria / Regions / Homepage http://greekhomes.info/greek-investments-in-bulgaria-what-will-happen-after-covid-19-bulgaria-regions-homepage/ Thu, 20 Jan 2022 22:41:20 +0000 http://greekhomes.info/greek-investments-in-bulgaria-what-will-happen-after-covid-19-bulgaria-regions-homepage/ On the border between Greece and Bulgaria – © Dusan Ninkovic/Shutterstock A seminar discussed regional relations in Europe during the pandemic, with Greece-Bulgaria relations among the case studies. But local-scale data would be needed to fully understand the situation, said ESPON’s Nicolas Rossignol, and there is little available. Has the Covid-19 pandemic strengthened or weakened […]]]>

On the border between Greece and Bulgaria – © Dusan Ninkovic/Shutterstock


A seminar discussed regional relations in Europe during the pandemic, with Greece-Bulgaria relations among the case studies. But local-scale data would be needed to fully understand the situation, said ESPON’s Nicolas Rossignol, and there is little available.

Has the Covid-19 pandemic strengthened or weakened the links between European regions? The question was the subject of a seminar during the nineteenth edition of the European Week of Regions and Cities, which this year took place from 11 to 14 October.

Asking about the present and future impact of the COVID-19 pandemic on relations between European regions, various case studies were reported, including that of Foreign Direct Investment (FDI) from Greece to Bulgaria.

The study, led by Dimitris Kallioras, Panos Manetos, Lefteris Topaloglou, Maria Tsiapa, Maria Adamakou and George Petrakos (University of Thessaly, Greece), seeks to understand to what extent the current pandemic discourages Greek investors and companies from investing and to relocate to Bulgaria, thus reversing a long-term trend: between 2000 and 2020, in fact, 15,000 Greek companies relocated to Bulgaria, for a total of more than 3 billion euros in FDI.

The phenomenon is certainly due to Bulgaria’s entry into the EU in 2007, which removed many logistical and bureaucratic obstacles to relocation, but also and above all to the contemporary financial crisis which has hit Athens with particular severity. In this context, many companies preferred to move to neighboring Bulgaria, a State which, unlike Greece, could boast of a sustainable debt/GDP ratio, low levels of unemployment, and above all a more low and a stable tax system. In this regard, it should be noted that a significant number of Greek companies in Bulgaria do not have employees, which proves that several entrepreneurs probably only used relocation as an expedient to escape the Greek tax regime. .

Available regional data confirms the above-mentioned trends: between 2010 and 2018, the Sofia region received 85% of Greek foreign direct investment. The latter came mainly from the Athens region – 82%. Finally, about 12% of Greek foreign direct investment in Bulgaria arrives in direct border regions with Greece.

The restrictions due to the ongoing pandemic and the resulting economic uncertainty have caused a sharp reversal in this trend, of uncertain duration and impact. In order to provide additional reading on the possible future implications of this huge flow of investments, the researchers decided to interview a significant sample of companies operating in Bulgaria.

According to the interviewees, the main attraction for Greek investments in Bulgaria is a more favorable and efficient institutional environment, both in terms of taxation and in terms of political and economic stability. The proximity of Greece and the lower cost of raw materials also play a fundamental role in this choice. The emergence of the pandemic crisis seems to have had a more negative impact on older investments, especially those over 5 years old, and on small and medium-sized enterprises operating in the most peripheral areas. While the companies surveyed praise Sofia’s timely measures to combat COVID-19 and its impact on the economy, most are pessimistic about a recovery of Greek investment in Bulgaria in the short term. This calls for caution in withdrawing public aid to the economy, at least until the flow of orders and customers returns to levels comparable to those of the pre-pandemic period.

The interviews collected shed light on the role played by the uncertainties linked to the pandemic crisis in the reduction of Greek investments in Bulgaria, while their return to pre-2020 levels – if it ever occurs – appears as a fairly hypothetical distant, difficult to reach in the short term. . Moreover, as pointed out at the beginning Nicolas Rossignol – Head of Unit for Territorial Evidence and Awareness Activities of European ESPON Program – it is clear that there is an increasing need to develop and analyze a new set of statistics to complement traditional aggregate data at the national level, as the latter tend to neglect the specificity of contiguous geographical areas and their particular exchanges of goods, people and resources.

The European applied research program ESPON – co-financed by the European Regional Development Fund – aims to remedy this deficiency by providing local policy makers with an innovative and better calibrated understanding of reality. The intention is to promote a new understanding of European dynamics on a regional basis, in order to provide different lenses through which to interpret European complexity more accurately.

ESPON

ESPON (European Spatial Planning Observation Network) is an EU program aimed at creating a European applied research network, with the aim of supporting cohesion and territorial development policies in Europe. Through its activity, ESPON processes and provides analyses, data and statistics on territorial trends, essential both for an in-depth understanding of European complexity and to be able to intervene in all conscience in the field of territorial cooperation. From economy to society, from migration to the environment, the program aims to provide local policy makers with new tools for interpretation, capable of promoting harmonious territorial development of the different European regions.

This content is published as part of the “Work4Future” project co-funded by the European Union (EU). The EU is in no way responsible for the information or opinions expressed within the framework of the project. Responsibility for the content rests exclusively with OBC Transeuropa. Go to “Work4Future”

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Western Circuit Bar honors Athens State Court judge http://greekhomes.info/western-circuit-bar-honors-athens-state-court-judge/ Sun, 16 Jan 2022 05:09:01 +0000 http://greekhomes.info/western-circuit-bar-honors-athens-state-court-judge/ ATHENS, Ga. (AP) — When State Court Judge Kent Lawrence died in March 2020, the COVID-19 pandemic forced the cancellation of traditional funeral services. On Monday, the Western Circuit Bar Association hosted a belated memorial service luncheon in Athens for the longtime Clarke County State Court judge who established Georgia’s first DUI/Drug Court. Several family […]]]>

ATHENS, Ga. (AP) — When State Court Judge Kent Lawrence died in March 2020, the COVID-19 pandemic forced the cancellation of traditional funeral services.

On Monday, the Western Circuit Bar Association hosted a belated memorial service luncheon in Athens for the longtime Clarke County State Court judge who established Georgia’s first DUI/Drug Court.

Several family members, including his wife, Karlene Lawrence, attended the luncheon, where Lawrence’s legacy in Athens was remembered by State Court Judge Charles Auslander and Superior Court Judge Lawton Stephens.

Many University of Georgia football fans remember Lawrence as a star receiver.


“If you were a kid growing up in Athens, Georgia in the 1960s, Kent Lawrence was a household name,” Stephens said of the man who became his close friend during his career in the field. judicial.

But after Lawrence’s playing days in college and the NFL, he returned to Athens to earn a master’s degree while working for the UGA Police Department. In 1974, he became the first police chief of the new Clarke County Police Department, according to Auslander, who described Lawrence’s rise to a seat on the bench where he was appointed in 1986 to judge. .

“He realized he had a real love for law and decided he would go to law school while working full time,” Auslander said.

But it was while working in law enforcement and then as a lawyer that Auslander said Lawrence was ‘tired of seeing the same people come before him with substance abuse issues’ without other proposed solution than more prison sentences.

In 2000, Lawrence established the first DUI court, but without such a program in Georgia, he traveled to New York, Michigan and New Mexico to study how similar courts operate, according to Auslander.

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