Tuesday, March 12, 2013

Current Events: Greece

Flooding ravages Athens. Rainfall amounts totaling more than the average for an entire month fell in Athens in a period of about six hours. As a result, two rivers overflowed their banks, power was lost, and public transportation was shut down. This highlighted the issue of an outdated drainage system in Athens, which the city has been looking to improve. Due to the debt owed by the Greek government, they were not able to provide an estimate of damages. (February 22, 2013)

Hollande visits Greece. President Francois Hollande of France visited Greece recently in support of the existing programs in Greece involving economic revival. Hollande encouraged large businesses in France to help bolster these efforts by investing in Greece. He also suggested the idea of exploring natural gas and oil reserves in the Aegean Sea to further improvements. However, this could trigger a few disagreements with Turkey, who also has claims in this sea. (February 19, 2013)

Cyprus places further strains on the already struggling European Union. After the many bailout attempts with numerous countries including Greece, Portugal, and Ireland, Cyprus appears to be the next state on the verge of economic collapse. This story will be of particular interest to watch in the future, after officials in the European Union prepare to meet to discuss this issue. As of now, the suggested bailout measures total more than the Gross Domestic Product of Cyprus, raising concerns about how they would realistically be able to repay these loans. Cyprus has also looked to Greece for support. (March 11, 2013)

Lastly, I found this really interesting article, if you want to read. It details the story of a Syrian family who escaped the country (illegally) after their home was bombed. They hoped to find some sort of safety in Europe, but were later arrested by the Greek police. Fleeing War, Syrians Face New Misery in Greece

New York Times

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