Search Results for: Greek

Greece – the Olympian challenge

Hercules may have succeeded in cleaning the Augean stables but the mythic hero would surely have shaken his head at the state of the Greek parliament, labouring to implement austerity measures against a backdrop of corrosive corruption and widespread tax evasion.…

THE EUROPEAN Commission has announced a series of three-year spending programmes helping meat producers from around the European Union (EU) sell their products at home and abroad. The money funds “public relations, promotional or publicity campaigns” said Brussels, with spending being augmented by matching funding sourced from industry groups and national governments.…

THE ECONOMIC and social chaos that has riven Greece in the past few years appears at last to be subsiding, but one part of the healing process is accepting want went wrong in the first place – and new revelations do not make encouraging reading.…

The latest financial crisis to hit the Eurozone – hitting the diplomatically-recognised portion of Cyprus – is perhaps a case study in how to mismanage a banking-reliant economy and of how the international community can err when applying a fix.

As Accounting & Business went to press, the divided Mediterranean island was faced with the prospect of having to stop all government payments unless fresh money pours in by April 24.…

THE EUROPEAN Commission looks set to propose binding legislative standards for the 27 European Union (EU) member states to follow in exploring unconventional fossil fuel resources amid public concern over the environmental and social impact consequences of the main production method – hydraulic fracturing or fracking.…

A Greece ferronickel, laterite ore and lignite company may have to repay to the Greek government subsidies worth more than Euro EUR105 million, after the European Commission aired concerns they might have been paid illegally.

Brussels has now opened an in depth investigation into handouts to steel raw materials supplier Larco General Mining and Metallurgical Company SA.…

TRANSLITERATION and translation have become inescapable challenges for financial institutions and other companies striving to comply with international sanctions.

Precise identification of a sanctions target named in a foreign language is often difficult, but is essential for efficient screening of transactions that should be controlled or blocked in line with blacklists issued by national authorities (and the European Union (EU)), and those based on the comprehensive list issued by the United Nations (UN) Security Council.…

CYPRUS is under intense pressure to clean up its act  – at least on the south of the island, controlled by the internationally recognised government- in battling what some foreign creditors, with Germany at the forefront, see as a widespread money laundering problem.…

BY MARK ROWE, MICHAEL KOSMIDES, IN ATHENS, AND MOHAMMED YUSUF, IN NAIROBI

INTERNATIONAL civil aviation procedures are designed to create predictability. But they are not usually applicable for airports in territories that have declared independence, but have not achieved full international recognition, or a seat at the United Nations.…

BY MICHAEL KOSMIDES, IN ATHENS

Greece is perhaps the best example of how a corrupt political and commercial system can undermine an economy and prevent it recovering from recession. The country has a patent and overwhelming corruption problem that weakens efforts to reduce its huge debt burden, expected to reach almost 190% of GDP in 2012.…