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Saturday November 15, 2008 - Archive

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15/11/2008

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Defense budget to be squeezed Karamanlis announces 15 percent cut in military spending next year, as recession confirmed in eurozone Greece could save in excess of 1 billion euros by reducing its defense spending next year, according to cuts announced by Prime Minister Costas Karamanlis in Parliament yesterday, as it was confirmed that the eurozone had slipped into recession.

FRONT PAGE NEWS

Migrant influx to islands doubles

The number of illegal immigrants arriving...

Greece returns to Kyoto scheme

A United Nations committee has decided...

Schoolgirls smile...

Schoolgirls smile into...

Some inmates refusing water

As thousands of prisoners continued...

Four caught after 11 murders in gang war

Four Albanian men aged...

IN BRIEF

Jordan withdraws support for Orthodox church's Holy Synod : The government in Amman yesterday withdrew its approval...

Police plan for annual march : The police presence in central Athens was boosted...

Arson attacks : Suspected anarchists hurled petrol bombs at offices...

Samothrace trash : Authorities on the island of Samothrace in the northern Aegean were...

Citizens' helpline : The Interior Ministry yesterday announced the operation...

Bitter pill : Civil servants will have to pay for...


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President urges banks to show understanding President Karolos Papoulias welcomes Bank of Greece Governor Giorgos Provopoulos...
EDITORIAL

Don’t blame all banks Banks are necessary in order for a modern, free market economy to function properly. However, if some credit institutions have made mistakes or have sought to exploit the global economic crisis in any way, they deserve to go out of business. Arbitrary practices that are harmful to consumers should entail penalties from state watchdogs. There is no doubt that banks have their share of responsibility for the current downturn and, for this reason, they are expected to show a certain degree of flexibility and sensitivity toward their customers.

EDITORIAL:AthensPlus

Dictatorship of the proletariat Protest marches in Athens are an experiment in how meaningful mechanisms of political expression can - when abused over a long time - degenerate into meaningless ritual. When taken to an extreme, they reveal the absurdity of political or labor activism gone wild: Protest marches are held to demand an improvement in a situation, but when abused they can actually make it worse.

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