S&P Downgrades Greek debt

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S&P has downgraded Greece’s credit rating by two notches to ΄B΄ and ΄C΄, from ΄BB-΄ and ΄B΄, respectively on fears the country will need more EU help to avoid restructuring its debt.
Both the long- and short-term ratings remain on CreditWatch, with negative implications, while Standard & Poor΄s ΄4΄ recovery rating for Greece remains unchanged–indicating an estimated 30%-50% recovery upon default–and its ΄AAA΄ transfer and convertibility assessment for Greece, which applies to all members of the eurozone, also remains unchanged.
The Greek Ministry of Finance responded that the downgrading of Greek Government debt by Standard and Poor’s today comes at a time when there have been no new negative developments or decisions since the last rating action by the agency just over a month ago and therefore is not justified.

New Arrest in Rendi Shooutout

Police on Sunday afternoon arrested the third of four expatriates from Russia who had participated in a bloody clash.  Two were killed and two policemen were wounded by the Dias group in Rendi. The man is a 24-year-old known for robberies who following investigations, was detected in Menidi and was arrested while walking. He will be led before an investigator on Monday together with the rest. Police are continuing investigations for the arrest of the fourth, who had been wounded during the shootout with the police. (source: ana-mpa)

John Varvatos Stars in New "Imported from Detroit" Chrysler Commercial

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Designer John Varvatos stars in a new TV commercial for Chrysler.  The one minute video is titled “Imported from Detroit: Attitude” and emphasizes the rock n’ roll and heavy industrial influences of the Greek-American designer.

The ad spot is part of the “Imported from Detroit” campaign that started with the superbowl Chrysler commercial staring Eminem. In the campaign Chrysler uses different faces, a mix of famous and everyday people, with one requirement: they have to be from Detroit.

In the past, Varvatos himself has used two Detroit natives in his own ad campaigns, music legends Iggy Pop and Alice Cooper.

 

 

Top Australian Jockey Katsidis Found Dead After Drug & Alcohol Binge

Former leading Queensland jockey Stathi Katsidis was found dead in his Brisbane home. The coroner’s report revealed that he died because of a massive mixture of drugs and alcohol. More specifically, he had consumed a mixture of ecstasy, cocaine, methylamphetamines, alcohol and the designer drug GHB.

After a night of continual consumption of drugs and alcohol, his fiancee Melissa Jackson, discovered Katsidis face down on the floor of the lounge room. He had turned purple and Jackson called for help from neighbors. When the ambulance arrived, he was unable to be revived and was pronounced dead.

31-year-old Katsidis, father of a young child, had battled in the past, weight and drug problems. He served a nine-month ban after testing positive for ecstasy in 2008, but had made a successful comeback, and was ready to take part in World Cups.

Michael Vassiliadis Named President of European Mine, Chemical & Energy Worker’s Federation

Michael Vassiliadis, president of the German Chemistry Trade Union IG-BCE, was designated president of the European Mine, Chemical and Energy Worker’s Federation (EMCEF). Michael Vassiliadis is one of the most important personalities of trade unions in Germany and the first president of immigrant descent in a German union. He was born by a Greek father and German mother in 1964, in Esse of North Rhine-Westphalia. He worked at Bayer AG, where he started his union career. In 2009, he was elected president of the powerful IG BCE, which has 690,000 members of the industrial branches of chemistry, carbon and energy. Recently he has been chosen by Chancellor Angela Merkel for the Energy Policy Committee as a consultant of the government, concerning energy issues. EMCEF, which covers the branch of industrial chemistry and energy, is the third biggest European workers’ federation. Its members are 126 trade-unions from 38 countries with about 2,000,000 members.

UK Should not Help Any Second Greece Bailout – Osborne

U.K. Chancellor of the Exchequer George Osborne said European Union finance ministers’ plan for Greece might involve additional funding from the Eurozone.
“It’s inevitable that we’re going to look at the Greek package and see what they can do to get through next year,” Osborne said in an interview with BBC TV’s Andrew Marr Show. “That might involve additional assistance from, for example, the Eurozone.”
Osborne said he had not heard suggestions that Greece might leave the Euro “in private or in public, I promise you.'”

Greece's Lawyers Reject Meeting With Troika Representatives

Greece’s lawyers rejected a meeting with Troika representatives for Tuesday.  This was decided in a vote during an extraordinary plenary meeting of the presidents of the Bar Associations, throughout the country held in Athens on Sunday.  He stressed that they do not acknowledge Troika as an institutional body nor intend to “legitimise their presence” in Greece.
The Athens Bar Association and various trade unions and other bodies have taken recourse in the council of state against the Memorandum, and a relevant ruling is pending.
(source: ana-mpa)

Panathinaikos Win Another Euroleague Title (video)

Panathinaikos are the new European champions, adding a sixth star to their crescent, after beating Macabbi Tel Aviv (78-70) in the Euroleague final.
The Greek club, by far Europe’s most successful in the last 20 years, won its sixth European crown, and the third in the last five years.
Throughout the match, Panathinaikos was the better team, thanks both to its strength under the basket and its diverse attacking strategies that destroyed the Tel Aviv club’s zone defense.
Panathinaikos used a strong third quarter to build a double-digit lead and then withstood a late run from the Israeli team in the fourth.
Point guard Dimitris Diamantidis scored 16 points. Mike Batiste scored 18 points for Panathinaikos, and Drew Nicholas added 14.
It is Panathinaikos’ third title in five years and puts it level with CSKA Moscow in second place on the all-time list behind Real Madrid’s eight continental crowns. It was coach Zeljko Obradovic’s eighth European title and fourth with Panathinaikos.
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40 St. Demetrios School Students become Members of National Honor Society, Astoria

Forty students of the 9th and 11th classes of St. Demetrios School, Astoria, accepted with pride, prizes awarded to them recently.  The awards were granted during a special event at the Petros G. Patridis Cultural Centre of the Greek-American community. They have all excelled in class, behavior and contribution to their school and to society. They are now members of the pan-American National Honor Society.

Friendly Football Match between Greece & Ecuador, New York City

The sizable Ecuadorian and Greek populations of Queens and Astoria will have the chance to converge on Citi Field.  The stadium is in a borough of Queens, and spectators will enjoy the first unexpected friendly match between the two countries. The game will take place rain or shine, on June 7th.

The Greek national team, ranked No. 12 worldwide and at the top of its group for the 2012 European Championship, is led by coach Fernando Santos. Greece, who has made all Greeks feel proud in the past, will give their best, next summer. Unfortunately, the Greek team was qualified for the 2010 FIFA World Cup but was eliminated in the first round.

Ecuador, led by coach Reinaldo Rueda, is preparing for the difficult 2011 Copa America in Argentina in July.  The national team of Ecuador was qualified for the 2006 FIFA World Cup, where it advanced to round 16.

Tickets go on sale to the general public Monday, May 9th at 10 a.m. online at 507TIXX.com and by phone: (718) 507-TIXX. Tickets can be purchased in person starting Tuesday, May 10th at 9 a.m. at the Jackie Robinson Rotunda ticket windows located at Citi Field.