International Property News

21

With the win of right wing leader of New Democracy Antonis Samaras, it is assured that Greece has made it to the Eurozone. The newly elected Samaras, and likely to be the new Prime Minister, said last week: “The Greek people voted today to stay on the European course and remain in the Eurozone...there will be no more adventures, Greece’s place in Europe will not be put in doubt.”

Samaras won the Greek polls with a record 99 percent votes, as per the counts. And, according to the interior ministry, the New Democratic Party has secured around 30 percent in totality. While it was Syriza’s Alexis Tsipras on the left-radical front, Samaras’ top contender has managed to find a place with 27 percent.

Meanwhile, Evangelos Venizelos, who leads the sociality party Pasok, that enjoyed the power up until last year, came up with just 12 percent of the total votes. It is being presumed that Samaras will join Venizelos and form a coalition government.

Hence, now, while Pasok will secure about 33 seats, Syriza is to claim 71 and the New Democratic Party will have about 129 parliamentary seats booked. According to reports, Syriza is eyeing for the anti-austerity position in the opposition.

Escaping with a thin margin, Greece is probably clung to the severe terms of its $300 billion (€240 billion) bailout and still be a part of the Eurozone, in the approaching years. However, if so did happen, it would surely put the European economy in a much weakened position, waves of which will be felt across the world.

At this point of time, not to mention, Greek financial system is at an exposed risk. Continuously being the fifth year of its recession in a row, the region has reached a point where one default would increase the hopes of Euro exit to hundred times.

Meanwhile, as the Greek polls have relieved the sparkling jitters around financial disaster for the European region, the Euro group leaders are still finding ways to control the debt crisis that is shadowing the global economy.

Not only Greece, but Spain and Italy too are facing eminent financial crisis. The two nations that are already heavily burdened with the loans and borrowings, saw the borrowing costs skyrocket on Monday. This is only cause which has kept Euro on its feet to keep the jitters alive and plan for another big much-needed bailout.

In no way can one say that the Eurozone is incapable to protect and foster the states. Although the crisis runs back and forth, it is the group that is facing immense amount of challenges to keep the states from extreme conditions, nevertheless there is the European Central Bank acting as life support to the bankers.

How ever now the finance minister resigned on Monday due to ill health, throwing the government's drive to soften the terms of an international bailout into confusion less than a week after it took office. Vassilis Rapanos, 64, chairman of the National Bank of Greece, was rushed to hospital on Friday before he could be sworn in, complaining of abdominal pain, nausea and dizziness.

Actions: E-mail | Permalink |

Post Rating

Property News

Greece's finance minister resigned on Monday due to ill health, throwing the government's drive to soften the terms of an international bailout into confusion less than a week after it took office. With the win of right wing leader of New Democracy Antonis Samaras, it is assured that Greece has made it to the Eurozone.

The recent World Bank report suggests developing nations to get prepared for a tough economic scene which is about to appear in near future. Fearing the financial crisis to spread to bigger regions such as Italy and Spain...

Spain warns euro can be finished in months – without banking and fiscal policies. The EU summit in Brussels should assure markets that euro is to be safe-guarded against all odds. As recent reports suggest, Spain was looking out for an immediate bailout of funds from the euro-zone.

t looks as my wishes came true as in the last minutes Countries agreed a deal today to push for a new climate treaty, salvaging the latest round of United Nations climate talks from the brink of collapse. After more than two weeks of intense talks, some 190 countries agreed to four main elements.

More good news for home owners with Europe as The European Central Bank has cut interest rates back to their historic low of 1%, as expected by markets. UK interest rates have been held at a record low of 0.5% by the Bank of England's Monetary Policy Committee.

Global housing markets under pressure and other than a few pickets of resistance in Uk and other traditionally strong markets, the world's housing markets were on balance weaker during the year ending in the second quarter of 2011

Dubai Property owners are facing legal limbo as developers prematurely withdraw their maintenance services in anticipation of owners taking over the building’s upkeep, a property lawyer said. Property "Owner associations" (OA) waiting for registration have been left unable to pay bills

The Eurozone crisis appears to have pushed more European tenants into the central London rental market since the beginning of the year, with European tenants taking 30.4% of all new lets between January to May 2011 compared to 25% during the same period in 2010. By Knight Frank

Property markets in the UK may be reaching a turning point, according to the latest property analysis snapshot from real estate consultants Colliers International. The phrases ‘risk curves’ and ‘quality secondary’ are increasingly heard in informal conversation suggesting that movement may be imminent, it says.

Western Canada has the reputation of being one of the most beautiful places in the world, and Whistler, where all our holidays depart, has won the reputation as North America’s finest resort (as rated by Snow Country Magazine for the past six years).

Services
blog

Blogs

instagram

Instagram

facebook

Facebook