Daily Archives: August 25, 2015

The Greek parliament has approved the draft deal for the $93bn bailout package allowing the deal to be taken to the meeting of European finance ministers in Brussels.

The move saves Greece from a disorderly default on its debts which could have come as soon as next week and helps to cement its membership of Europe’s single currency, but means more hardship for ordinary Greeks.

European Commission (EC) President Jean-Claude Juncker said that the approval of the third bailout by the Eurogroup proved that “Greece is and will irreversibly remain a member of the euro area”.

Despite rebellion in the ranks of Tsipras’ leftist Syriza party, the 400-page text is thought likely to pass through the Athens legislature with the support of opposition parties in a vote not expected until the early hours of Friday.

In an appeal to lawmakers before the vote, Tsipras defended the decision to accept a program that comes at the price of tax hikes, spending cuts and economic reforms, saying it was a choice between “staying alive or suicide”.

As Greece faces a 3.2 billion euro debt repayment deadline on August. 20, approval of the bailout by the eurozone of Friday is critical.

“After the changes in the government and the crises that we had, the cooperation with, let’s say, the changed Greek government is very constructive, very well organised“, Mr Jeroen Dijsselbloem, the Dutch minister who chaired the Brussels meeting, told reporters.

The first tranche of loans will be for 26 billion euros ($28 billion). “There is no chance of that”, lawmaker Makis Voridis said, after parliament approved the latest bailout bill, Reuters reported. “If we don’t find a solution, we will have to do bridge financing”, he said, referring to a short-term loan so Greece can make its next debt payment on August. 20.

“But Berlin opposes writing off any Greek debt, although it is open to the idea of extending grace periods before Athens has to start paying interest and principal on its bailout loans. They have tested the patience of policy-makers and they have tested the patience of our citizens even more“, Juncker said. Lawmakers from the so-called Left Platform of his party refuse to support the continuation of austerity, accusing him of betraying his pledges and the Greek people’s mandate.

Eurozone finance ministers were also discussing the deal.

International Monetary Fund chief Christine Lagarde welcomed the agreement but warned Greek debt had become unsustainable.

Earlier in the morning, the Greek parliament overwhelmingly voted in favour of adopting series of new austerity measures to secure the long-awaited bailout plan.

But Greece is hoping that agreement to the tough measures will garner it some good will with exasperated EU leaders and possibly a degree of debt relief, which some Eurozone ministers have hinted is possible.

source:ifreepress.com

Οι επιστήμονες προσπαθούν συνεχώς και με αρκετούς τρόπους να… καταφέρουν να θεραπεύσουν την επάρατη νόσο και να οδηγήσουν στο οριστικό τέλος του καρκίνου.

Σύμφωνα με επιστημονικό άρθρο που δημοσιεύθηκε στο έντυπο Life Science η αρτεμισινίνη, παράγωγο του «Sweet wormwood» ή του «Artemisia Annua», που χρησιμοποιούταν από την Κινεζική ιατρική μπορεί να….. «σκοτώσει» το 98% των καρκινικών κυττάρων εντός μόλις 16 ώρων.

«Οι κύριοι τύποι φαινολικών συστατικών στα περισσότερα από τα βότανα που ελέγχθησαν αναγνωρίστηκαν πρωταρχικά και αναλύθηκαν, περιέχοντας κυρίως φαινολικά οξέα, φλαβονοειδή, τανίνες, κουμαρίνες, λιγνάνες, κινόνες, στιλβένες και κουρκουμινοειδή.

Τα συγκεκριμένα φαρμακευτικά βότανα έχουν εμφανίσει έως τώρα πολύ ισχυρότερη αντιοξειδωτική δράση και περιέχουν σημαντικά υψηλότερα επίπεδα φαινολικών συστατικών από τα κοινά φυτά και φρούτα.

Τα Παραδοσιακά Κινεζικά φαρμακευτικά φυτά που σχετίζονται με αντικαρκινικές ιδιότητες μπορεί να αποτελούν πιθανές πηγές ισχυρών φυσικών αντιοξειδωτικών και ωφέλιμων παραγόντων αναστολής, καθυστέρηση ή αναστροφής της καρκινογένεσης (σ.σ. pentapostagma.gr – chemopreventive agents)» αναφέρει η επιστημονική ομάδα στην σύνοψη του άρθρου στο επιστημονικό περιοδικό Life Sciences.

Το εν λόγω βότανο, εάν χρησιμοποιηθεί από μόνο του, μειώνει τα καρκινικά κύτταρα κατά 28%, αλλά σε συνδυασμό με το σίδηρο η “Artemisia Annua” καταφέρνει να «εξολοθρεύσει» επιτυχώς τον καρκίνο. Παράλληλα, στα πειράματα που διενεργήθησαν η αρτεμισινίνη δεν προκαλούσε βλάβες στα υγιή κύτταρα του πνεύμονα.

Η αρτεμισινίνη χρησιμοποιήθηκε κατά το παρελθόν ως μία ισχυρή θεραπεία κατά της ελονοσίας. Πλέον, όμως, αποδεικνύεται ένας εξαιρετικός σύμμαχος στη μάχη κατά του καρκίνου. Όταν οι επιστήμονες προσέθεσαν σίδηρο κατά τη διάρκεια της μελέτης, και στη συνέχεια τον «ενσωμάτωσαν» στους ιστούς του πνεύμονα και ειδικότερα στα καρκινικά κύτταρα του πνεύμονα, η αρτεμισινίνη επιτέθηκε επιλεκτικά κατά των καρκινικών κυττάρων δίχως να προξενεί βλάβες στα υγιή κύτταρα..

“Εν γένει, τα αποτελέσματα μας δείχνουν ότι η αρτεμισινίνη σταματά επιτυχώς τον παράγοντα μεταγραφής E2F1 και παρεμβαίνει στην διαδικασία καταστροφής των καρκινικών κυττάρων, εννοώντας ότι παρουσιάζει έναν νέο τρόπο μεταγραφής βάσει του οποίου η αρτεμισινίνη ελέγχει την διαδικασία αναπαραγωγής και ανάπτυξης των καρκινικών κυττάρων”, ήταν το συμπέρασμα των ερευνών που διεξήχθησαν στο εργαστήριο μελετών κατά του καρκίνου στο Πανεπιστήμιο της Καλιφόρνια.

Πηγή:makeleio.gr/

Former Wimbledon quarter-finalist Nick Kyrgios will escape further penalties for his insults directed at French Open champion Stan Wawrinka provided he stays out of further trouble for six months.

The 20-year-old Australian faces a $US25,000 ($34,728) fine and a 28-day suspension from the ATP World Tour if he is fined for “verbal or physical abuse” or receives penalties of more than $US5000 ($6946) for other offences at ATP events before February 24, the men’s tour said in a statement on Monday.

The ATP had already fined Krygios $US12,500 ($17,364) for two incidents during a match against Wawrinka two weeks ago at the Rogers Cup in Montreal. The world no. 37 was heard on camera making lewd suggestions regarding Wawrinka’s girlfriend Donna Vekic and another Australian player, Thanasi Kokkinakis.

Gayle David Bradshaw, executive vice-president, rules & competition at the ATP, called the incident “egregious and reflected poorly on our sport”.

She added Kyrgios had “expressed regret, and the best result would be that he learns a lesson from this incident and that he understands he is responsible to the tour and to fellow players for both his actions and his words. It is with these factors in mind I feel he should have the opportunity to ‘earn’ his way out of additional sanctions”.

The ATP said at the time of the incident that it would start an investigation into his behaviour. The maximum penalty for aggravated behaviour or “conduct contrary to the integrity of the game”, is a $US100,000 ($138,914) fine and a three-year ban.

source:smh.com.au

More than $US5 trillion has been erased from the value of global equities since China unexpectedly devalued the yuan on August 11. Photo: Reuters

A wave of selling has gripped global markets overnight, setting up another bloodbath today for Australian markets.

US stocks joined selloffs in Europe and Asia, with the Standard & Poor’s 500 Index tumbling toward its first correction in almost four years. Chinese shares sank the most since 2007 and stocks in Germany headed for a bear market.

Commodities fell to a 16-year low as crude plunged 4.1 per cent. The yen strengthened and 10-year Treasury yields slid below 2 per cent for the first time since April.

“There is no doubt that the panic begets panic in this market,” Michael Holland, chairman at Holland & Co, said in a Bloomberg Television interview. “Yet you called Black Friday, we certainly have Black Monday morning starting for us, so it’s a psychological thing. It’s pervasive. It’s everywhere.”

More than $US5 trillion has been erased from the value of global equities since China unexpectedly devalued the yuan on August 11, fuelling concern that the slowdown in the world’s second-largest economy is worse than anticipated. The rout is shaking confidence that the global economy will be strong enough to withstand higher US interest rates, even as bets ease on a September increase.

Black Tuesday on the way for ASX

On Monday, the ASX experienced its worst day since the GFC, finishing the day over 4.1 per cent down at 5001.3 points, the lowest level in more than two years. Investors are bracing for more pain on Tuesday. with the futures pointing to a drop of around 200 points (or 4 per cent) at the open.

Wall Street slides, volatility explodes

US stocks have finished sharply lower but far above the session’s floor following a bruising day in global financial markets sparked by mounting worries over the Chinese economy.

The broad-based S&P 500 tumbled 77.68 points (3.94 per cent) to 1,893.21 on Monday, pushing the index into “correction” territory, normally defined as a loss of 10 per cent or more.

The Dow Jones Industrial Average dropped 588.47 (3.58 per cent) to 15,871.28, while the tech-rich Nasdaq Composite Index shed 179.79 (3.82 per cent) at 4,526.25.

US stocks were in the red all day after the latest plunge in the Shanghai equity index ignited another round of turmoil in global equity markets. Bourses in England, France and Germany all fell at least 4.5 per cent.

But the main Wall Street indices finished well above their lows for the session. The Dow fell more than 1,000 points, or six per cent, after the opening bell, but soon recovered some of those losses. The Nasdaq was down more than 9.0 per cent at one point.

Overshoot eyed for shareholder value

The S&P 500’s rout sent valuations tumbling. The price-to- earnings ratio for the gauge sank to 16.76, the lowest level since the October pullback. Then, the measure bottomed just above 16.50, the cheapest since January 2014.

“It may overshoot in the near term to the downside, creating value for shareholders,” said Jeff Mortimer, the Boston-based director of investment strategy for BNY Mellon Wealth Management, which oversees almost $US193 billion. “We are looking at those companies that don’t have as much international exposure,” and instructing portfolio managers to steer clear of large-caps.

Selling eased after the open, as investors sought opportunities among the biggest declines. The Dow lost nearly 1100 points before cutting that slide in half, while the S&P 500 fell more than 5 per cent in the first 10 minutes of trading.

“As prices go lower, we see selective opportunities to buy as opposed to a provocation to become more bearish,” said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland, the private-banking unit of KeyCorp that oversees more than $US25 billion in assets. “We’re emphasising large-caps relative to smaller ones” and within the US, companies that are less export-oriented, he said.

Some prominent money managers and forecasts said the selling has gone too far, too fast. Jonathan Golub, chief market strategist at RBC Capital Markets, says the bloodbath in biotechnology and tech stocks is temporary, and investors should buy back the best performers of 2015.

More selling tipped

Laszlo Birinyi, the investor whose bullish calls have repeatedly come true since 2009, says that while the selloff lashing global equities is painful, its cause is no mystery – and that’s a reason for optimism.

“When the issues are on the table, the market will do what it has to to adjust and come out OK on the other end,” Birinyi, the president of Birinyi Associates in Westport, Connecticut, said in an interview on Bloomberg Radio’s “Surveillance” with Michael McKee. “That other end may be a while, and it may not be fun getting there.”

Doug Ramsey, the chief investment officer of Leuthold Weeden Capital Management LLC, whose quantitative research into market breadth, valuation and investor sentiment foreshadowed the drubbing in American stocks last week, says the selling will worsen.

All but three of the shares in the Stoxx Europe 600 Index retreated Monday, driving the gauge down 4.5 per cent. Germany’s DAX Index retreated 3.9 per cent, taking the decline from its peak in April to more than 20 per cent.

London’s FTSE 1000 plugned 4.67 per cent to 5898.

Investors withdrew $US1.9 billion from US exchange-traded funds that buy in emerging-market stocks and bonds last week, the most since March.

The Bloomberg Commodity Index fell 1.8 per cent, heading for the lowest closing level since August 1999.

Brent and West Texas Intermediate crudes both traded at six-year lows of $US43.48 and $US38.89 a barrel, respectively. Gold, a haven for investors during volatile trading, was little changed at $US1159.60 an ounce, erasing earlier losses, while copper slipped 3.1 per cent.

Resource currencies lead declines

Currencies of basic resource-producing countries led declines, with the ruble tumbling 2.5 per cent to 70.86 per dollar and Malaysia’s ringgit sliding 1.8 per cent to a fresh 17-year low. South Africa’s rand dropped 2.1 per cent and New Zealand’s currency weakened 1.8 per cent.

Turkey’s lira retreated 1.2 per cent. A deadline for a coalition government passed, putting the country on course for its second parliamentary election this year.

The yen advanced with the euro as Treasuries rallied amid speculation the global selloff will forestall the Federal Reserve’s first interest-rate increase since 2006.

Japan’s currency jumped 1.8 per cent to 119.95 per dollar, the strongest since May 19 and the euro climbed for a fourth day against the dollar, strengthening to $US1.15 for the first time since February.

Fed funds futures now show a probability of a December rate increase at 51 per cent versus 61 per cent on Friday. Bets on the first increase in rates in almost a decade in September fell to 28 per cent, down from 34 per cent. The calculation is based on the assumption that the effective fed funds rate will average 0.375 per cent after the first increase.
source:smh.com.au

Thousands of migrants and refugees continued to reach the shores of Greece’s eastern Aegean islands on their way to Western Europe, as France and Germany called for a unified response to the mounting crisis.

According to police estimates, between 8,500 and 9,000 refugees on the island of Lesvos were Monday awaiting transfer to the Greek mainland. A ferry charted by the Greek government – the Eleftherios Venizelos – was expected to pick up another 2,500 Syrians from the island at 2.30 this morning and bring them to Athens.

“The foreigners that leave the island every day are replaced by the same number of people arriving from the Turkish coast,” Lesvos Mayor Spyros Galinos told Kathimerini.

Authorities said a second ferry would be added to the route in the coming days.

The Hellenic Coast Guard yesterday recovered the bodies of two people who drowned after the vessel they were traveling in capsized due to strong winds off the island’s coast. Another person was still missing late yesterday while eight were rescued.

Meanwhile, more than 3,000 migrants and refugees remained stranded on Kos island. Also yesterday on Kos, a fire broke out at the derelict Captain Elias hotel which is used as temporary accommodation by refugees. It was the second time the building had caught fire, prompting Kos Mayor Giorgos Kyritsis to threaten legal action against property owners Piraeus Bank.

Warning of “an exceptional situation,” German Chancellor Angela Merkel and French President Francois Hollande Monday called for a unified asylum system across Europe. “Rather than wait, we should organize and reinforce our policies, and that is what France and Germany are proposing,” Hollande said.

Frontex, the EU’s border agency, said last week that a record 107,000 migrants were at the bloc’s borders last month, with more than 20,000 arriving in Greece last week alone.

Tension appeared to ease Monday on the border between Greece and the Former Yugoslav Republic of Macedonia (FYROM) as Skopje lifted a blockade of its border. Hundreds more people entered FYROM from Greece yesterday, after nearly 10,000 people crossed into Serbia over the weekend.

source:ekathimerini.com