Greek premier rushes to Brussels to secure bailout

A protester waves a Greek flag in front of the parliament in central Athens as few hundred protesters gather to protest against the government's austerity measures during an anti-government rally on Sunday, Feb. 19, 2012.(AP Photo/Petros Giannakouris)

A protester waves a Greek flag in front of the parliament in central Athens as few hundred protesters gather to protest against the government's austerity measures during an anti-government rally on Sunday, Feb. 19, 2012.(AP Photo/Petros Giannakouris)

A man begs at a traffic light as a woman enjoys her coffee reading a fashion magazine in a cafe of a luxurious hotel on Athens' Syntagma main square on Sunday 19, 2012. The Greek parliament is set to vote on emergency austerity measures next week necessary for a euros130-billion ($170- billion) bailout deal with the EU and IMF to avoid default. (AP Photo/Dimitri Messinis)

The temple of Parthenon is silhouetted after the sunset on the top of the Acropolis hill in Athens, Sunday Feb. 19, 2012. The Greek parliament is set to vote on emergency austerity measures next week necessary for a euros130-billion ($170- billion) bailout deal with the EU and IMF to avoid default. (AP Photo/Dimitri Messinis)

The temple of Parthenon is illuminated after the sunset on the top of the Acropolis hill in Athens, Sunday Feb. 19, 2012. The Greek parliament is set to vote on emergency austerity measures next week necessary for a euros130-billion ($170- billion) bailout deal with the EU and IMF to avoid default. (AP Photo/Dimitri Messinis)

Employees of the Byzantine and Christianity museum hold a cardboard replica of ancient ruins which reads: ''Monument for sale'' during a peaceful protest outside the Greek Parliament in Athens, Sunday, Feb. 19, 2012. Tensions between Athens and other European capitals hit new highs this week as eurozone ministers delayed to next Monday a decision on a bailout agreement and demanded more commitments from Greece. (AP Photo/Thanassis Stavrakis)

BRUSSELS (AP) ? Greece's prime minister rushed to Brussels on Sunday, a day before eurozone finance ministers have to decide whether his country will get a euro130-billion ($170-billion) bailout and avoid a potentially devastating default.

Leaders from Germany, Italy and Greece have said they are optimistic that the deal on a second massive bailout for Athens can be clinched at the meeting after months of delay, but critics have expressed doubts over Greek political leaders' commitment to austerity and there are still difficult details to be ironed out.

Pressure is on Greek Prime Minister Lucas Papademos to seal the deal and his presence in Brussels could lend more weight to the country's efforts and promises.

Monday's meeting could "result in the need to take very important decisions for the country and require immediate and thorough consultation between the Prime Minister and Minister of Finance," Papademos' office said in a statement. He is also expected to hold talks with representatives of Greece's private creditors on a related euro100-billion debt relief deal.

Greece is straining to secure the rescue loans and the debt relief deal quickly to avoid defaulting on a euro14.5 billion bond redemption on March 20. The government has already pushed a massive austerity and reform package though parliament and is expected to introduce in Parliament on Monday two more pieces of emergency legislation ? including wage and pension cuts. There were scattered protests over the cuts in Athens on Sunday and about 60 people detained.

High-level finance ministry officials from the 17 countries that use the euro as their currency were already meeting in Brussels Sunday to evaluate Greece's latest austerity plans, as well as whether the new bailout and a related debt-relief plan could bring the country's debt down to a sustainable level.

Before the rest of the eurozone and the International Monetary Fund can sign off on Greece's new rescue package, which was tentatively agreed to in October, and comes on top of a euro110 billion bailout granted in 2010, several issues have to be resolved:

Germany and other rich euro countries want Greece to set up a separately managed account that would ensure that the country services its debt. The idea of such an escrow account is that it would maintain pressure on Greece to stick to promised austerity and reform measures, without the eurozone risking the destabilizing effects of a default.

The escrow account would give legal priority to debt and interest payments over paying for government services. However, it is still unclear whether only funds from the bailout would be funneled into the account or whether Greece will also be expected to pay in some taxpayer money.

"There is agreement within the Eurogroup that there will be such a special account, or 'escrow account' in jargon, for the disbursement of the second aid package," German Finance Minister Wolfgang Schaeuble told German daily Tagesspiegel's Sunday edition. "The account ensures a priority for debt reduction."

But a European Union official said forcing Greece to also channel government revenue into the escrow account "is not off the table." He was speaking on condition of anonymity because the talks among finance ministry officials were still going on.

Such a requirement would be an unprecedented intrusion into a sovereign state's fiscal affairs and could ultimately see Greece force to pay interest on its debt rather than teachers, doctors or other government employees.

The European Commission, the EU's executive arm, prepared several proposals for an escrow account for Sunday's and Monday's meetings. However, the IMF does not like the idea of such an account, the official said.

The second big outstanding issue is how to make sure that the current efforts to save Greece can actually bring the country's debts down to a manageable level in the longer term. In October, eurozone leaders and the IMF said that Greece's debt should be reduced to around 120 percent of annual economic output by 2020, from above 160 percent currently.

But a new report prepared by the Commission, the European Central Bank and the IMF concluded that the new bailout, Athens' spending cuts and a planned euro100 billion debt relief from private investors would still leave Greece's debt at almost 129 percent of economic output by the end of the decade, a European official said Thursday. The official was also speaking on condition of anonymity because the report is confidential.

There is hope that the ECB and national central banks could help close a big part of that financing gap by forgoing profits on their own holdings of Greek government bonds, but the bank has so far not announced a clear plan to that effect.

A cut in the interest rate Greece has to pay on its first bailout could also contribute to reaching the 2020 target.

Another issue due to be discussed Monday is how much the IMF will contribute to the new rescue. The Washington-based fund has provided one-third of the bailouts for Ireland and Portugal and chipped in euro30 billion for Greece's first euro110 billion rescue. But this time around, it looks as if the IMF will put up much less than one-third.

"The indication is that the figure will be rather low," the EU official said, but added that a final decision from the fund's board is still outstanding. IMF Managing Director Christine Lagarde will also be at the Brussels meeting Monday.

Greece has already passed a far-reaching new austerity and reform package through Parliament despite violent protests. In addition to that, the leaders of both main parties have signed written pledges promising to implement the measures even after elections expected in April.

On Monday, Papademos' government introduces legislation mean to supplement the 2012 budget and make sure that a total of euro3.2 billion in savings can be achieved. It is expected to be debated in committee Tuesday and submitted to a vote Wednesday. A separate legislation will provide for permanent pension cuts.

More actions ? including measures passed last July but never implemented ? must be approved by the end of February. These include slashing the wages of some special categories of employees, such as special advisers to the government, as well as professionals, such as lawyers.

Also,the government must shut down some more state agencies and update the list of pharmaceuticals approved by the National Health Service. A Sunday newspaper, To Vima, estimated that by the end of the month the government must pass some 79 laws and ministerial decrees to comply with the creditors' demands.

"It's difficult (for Greece) to go beyond what's been agreed," the EU official said, adding that it will be mostly up to the eurozone and the ECB to decide how to close the financing gap it the new program. "Ninety percent is done so there is no reason to think that there should be bad news on Monday," he said.

In Athens, a morning gathering called by Greece's two main union confederations attracted fewer than a thousand protesters. Separately, there were a few scuffles when about a hundred youth threw stones at riot police outside Parliament.

Several dozen "angry bikers" paraded through central Athens earlier Sunday afternoon honking their horns. Unionists affiliated with the communist party will hold their own protest rally and march to parliament Tuesday.

___

Demetris Nellas reported from Athens, Greece. Juergen Baetz in Berlin contributed to this story.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2012-02-19-EU-Greece-Financial-Crisis/id-0411cec02a984cfeb230105db36221ab

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Xiang gets better of Robles as rivalry resumes

(AP) ? Liu Xiang beat Dayron Robles in a resumption of their hurdling rivalry before the London Olympics, and Lerone Clarke upstaged Jamaican rival Asafa Powell in the 60-meter sprint at the Birmingham Grand Prix on Saturday.

Xiang ran a flawless 60-meter hurdles final in 7.41 seconds, with the Chinese star almost a tenth of a second ahead of world record-holder Robles in their first meeting since at last year's world championships.

"I am especially happy to get a national as well as Asian record," Xiang said. "I still feel though that over the first two hurdles I didn't do very well and that there is work to be done there. I am excited about the rest of the year now."

In South Korea in August, Robles finished first over 110 meters but was disqualified for impeding Xiang, who ended up winning a silver medal after being on course for gold. Now they are gearing up for the Olympic showdown that was denied in 2008 when Xiang limped off the starting line in Beijing and Robles took his Olympic title.

"The main task is to keep healthy and try to get in step before the Olympics," Xiang said.

Jamaica will be based in Birmingham before the Olympics, and Clarke led a Jamaican 1-2-3 sweep in the central English city by winning in 6.47 seconds.

"I knew that all I had to do was get out of the blocks and drive hard," Clarke said. "Get up and run home and it didn't matter who was out front, just focus on me."

Powell finished third in his return to indoor competition after an eight-year absence. Nesta Carter was second.

"Asafa Powell, Nesta Carter, they're all fast guys and to come here and win," Clarke said. "It's fantastic. I've never been to an Olympics so it would be a great addition to my career if I can do that now."

In the women's 60 meters, former world long jump champion Tianna Madison won in 7.07 seconds, with the American finishing 0.07 seconds ahead of Bulgaria's Ivet Lalova.

The home crowd was disappointed when world 5,000-meter champion Mo Farah was beaten over 2 miles by Eliud Kipchoge, finishing 0.68 seconds behind the Kenyan in second place.

"When I saw five or six laps to go my legs just felt heavy, I just didn't have that change of gear as they came past me," he said. "It's not any injury, it's nothing. I can't exactly explain."

There were seven British victories, led by Jessica Ennis running the fastest time this year (7.87 seconds) in the 60 hurdles. The other winners were: Holly Bleasdale (pole vault), J.J. Jegede and Shara Proctor (long jump), Robbie Grabarz (high jump) and Shana Cox and Nigel Levine (400).

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2012-02-18-ATH-Birmingham-Indoors/id-938eaf4984fe4284b20886cdd6406078

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The cool new Palestinians: geeks

The West Bank and Gaza Strip is home to hundreds of tech companies, creating everything from websites to?smart phone apps.

In the hip Ramallah coffee shop ZAMN, Yousef Ghandour laments the slow Wi-Fi as he launches the beta version of one of his many start-ups, a social networking site that allows users to travel through time to find connections.

Skip to next paragraph

Mr. Ghandour, who never wastes a moment, shares the e-books he is currently reading on his iPhone (among them, "Good to Great: Why Some Companies Make the Leap ... and Others Don't"), shows off his blog, and lingers for a moment on his latest vision for a social networking site for Muslims called AnaBasili, or "I'm praying."

"People are really passionate about entrepreneurship and putting Palestine on the map using technology," says Ghandour, a software engineer who is helping to create ? and brand ? an emerging community of technology entrepreneurs in the Palestinian territories. They call themselves Palestinian geeks, or peeks.

Until now, the primary Palestinian contribution to technology has been outsourcing programmers and engineers to firms in the United States and Israel, including Google and Cisco Systems.

But these new entrepreneurs want to do more. They want to create companies based on their own ideas and hire people to implement them. Already their ventures range from smart phone apps to Web design.

Crucially, the community is now beginning to attract investors. The Sadara Fund, the first venture capital fund focused on the Palestinian territories, launched last year with an initial $28 million to invest in Palestinian start-ups. At the time, Sadara estimated that more than 300 tech companies were operating in the West Bank and the Gaza Strip, employing about 3,200 people.

"We're starting to see some green spots here and there, but not by any stretch of the imagination do we have a mature ecosystem," says Saed Nashef, a Palestinian-American software entrepreneur who lives in East Jerusalem and is a managing partner of Sadara. "But the entrepreneurs have started to think they can go out there and do something of value. If you get one or two of these guys going, you get things going."

In booming Ramallah, the administrative seat of the Palestinian Authority, cranes and new high-rise office buildings jut from the rolling hills, with new names like Asal Technologies and PalTel emblazoned on the buildings. Many were started with seed money from local nongovernmental organizations.

The potential here prompted Mr. Nashef to return home from the US, where he went to college and worked as a software engineer for Microsoft. Now he has teamed up with Yadin Kauffman, a New York lawyer who was a partner in the first venture capital fund in Israel in the 1980s.

"It was one simple reason that motivates most of what I do here. I can come here and have an impact," Nashef says. "There's no reason not to try to make a difference."

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/Ep4HfZACt3o/The-cool-new-Palestinians-geeks

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Strategic-Planning - Daily Tips for Business

Well, as a former businessperson in retirement I am often contacted by a small business startups and asked questions about how best to do business in such a dismal economy. In fact generally the questions are accompanied by excuses and complaints. Indeed, just as the economy presents challenges, hardships, and crisis for small businesses, I would submit to you on a reciprocal side it also unveils excellent opportunities at every turn.

Source: http://dailytipsforbusiness.blogspot.com/2012/02/strategic-planning_16.html

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[OOC] Dreaming of the City

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Can I take Imogen please?

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Can I take Ashton? Oh hey Calvazara! 3rd ones a charm! LOL :)

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HDTV buyers guide - The Information That Can Facilitate Your ...


by Julia William
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HDTV buyers guide More Details about HDTV buyers guide here.

If you are looking to purchase a TV set for your son's birthday you might want to go towards one engineered for gaming. Also, if you plan to be playing video games on your set, it is recommendable that the refresh rate of your TV screen be 120 Hz; this way you can play at your convenience without ghosting inference. The reason is that most video games operate with such rapid motion that low screen-frequencies will not afford a good experience. Remember to check the dimensions of the TV and to measure the spot you are going to be placing it in. Measuring everything and making sure it will fit well can save you a huge amount of time in the future. Taking this measure will spare you unnecessary pain and time of taking the TV back to the seller after you would have discovered that it can't fit.

Besides, you need to determine which of the different types of HDTV models you want to choose from: LCD/LED television or Plasma television. Both of television technologies are just great! However, it is a matter of personal preference. For example if you are looking for a darker image, you are going to want to go with Plasma. Plasma TVs also allow you to see the image clearly at difficult angles, if you are doing the dishes for example. If you are looking to save some energy and in turn money then LCD or LED would be the way to go; many of these TVs have energy saving technology which actually can save you a good amount of money if used. I personally think that LED TVs are of the highest quality particularly those from the brand names such as Samsung and LG and this opinion can be corroborated by the different studies that gave the same conclusion.

One thing you must have in mind when you are set to purchase a TV set, is that nothing stops you from going online or visiting your local TV store to check for the quality and features of the type of HDTV that you desire. Ask for some help from a technology expert as well, and just check out the TVs you are interested in in personal. But remember to come back and look online for better prices because in the end you can save a lot of money!

If you are looking into purchasing a quality LED-LCD (awesome technology) TV then the best place to start would be the LG 55LW5600 HDTV. I mean this baby is a beast just check out a review at the link on the side. Another awesome component to add to your entertainment cent would be the Logitech Revue; this little gadget allows you to link your computer and TV and do all kinds of cool stuff.

Learn more detailed HDTV purchasers manual in flat screen TV reviews. For much more detailed review of the LG LED, check out LG 55LW5600 review.

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Tuesday KULR-8 Sports On-Demand 2-14

Story Published: Feb 14, 2012 at 4:37 PM MST

Story Updated: Feb 14, 2012 at 4:37 PM MST

Opening round of the District 6-C Boys Basketball Tournament

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