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US Ambassador Pyatt to attend launch event for PPC Cycling Tour of Greece

U.S. Ambassador in Athens Geoffrey Pyatt is to attend the launch of the PPC Cycling Tour of Greece that will begin in at Mikro Koules in Heraklion, Crete on Tuesday, as a guest of Deputy Sports Minister Lefteris Avgenakis.
An avid fan of cycling, Pyatt has warmly supported efforts to revive the cycling tour.

A stage has been set up at the landmark Mikro Koules, where 20 national and professional teams participating in the PPC Cycling Tour and 139 international athletes will be presented.

The presentation of the teams will be broadcast live by Creta TV ahead of the start at noon on Wednesday at the Lido National Sports Centre, in front of the PanCretian Statium, of the first stage of the race to Chania.

The event will also be livestreamed by the race website www.hellas-tour.gr and the Athens-Macedonian News Agency

SMYRNA, MY BELOVED -- THIS WEEKEND in Manhattan and Astoria

It was once a thriving city. Then the Turkish Army burned it to the ground and chased Greeks and Armenians from their homes.

To commemorate the 100th anniversary of the destruction of Smyrna, Hellenic Film Society USA proudly presents the acclaimed historical drama

SMYRNA, MY BELOVED
(Σμύρνη μου αγαπημένη)

SPECIAL SCREENING
Friday, April 29 at 7pm
Directors Guild Theater
110 West 57 Street, New York, NY

ALWAYS ON SUNDAY SCREENING
Sunday, May 1 at 4pm
Museum of the Moving Image
36-01 35 Avenue, Astoria, NY

Nominated for 12 Hellenic Film Academy Awards, including Best Picture

TICKETS ON SALE NOW!

Directed by Grigoris Karantinakis
In Greek and English with English subtitles
2021

Cast: Mimi Denissi, Leonidas Kakouris, Burak Hakki, Katerina Geronikolou, Jane Lapotaire, Susan Hampshire, Rupert Graves, Christos Stergioglou, Daphne Alexander

This moving, historical drama, told through the saga of a prominent Greek family, recounts the burning of the vibrant cosmopolitan city of Smyrna in 1922 by the Turks and the killing of its Greek and Armenian populations. In the present, a young Greek-American woman, visiting Greece with her grandmother to support the Syrian refugees, discovers that a similar tragedy in Smyrna destroyed her own family 100 years earlier.

Contains scenes of violence that may be too intense for young audiences.
Face masks required for both theaters. For more information about the Museum’s safety guidelines, click here.

 

The Stavros Niarchos Foundation (SNF) is the lead supporter of the Hellenic Film Society USA. Additional support is provided by 
the Kallinikeion Foundation, the Greek National Tourism Organization, 
Queens Council on the Arts, and Antenna Satellite TV.



The Hellenic Film Society

The Hellenic Film Society USA is a 501(c)(3) non-profit organization rooted in the belief that Greek cinema can and should be part of the American cultural landscape. We promote feature films, documentaries, and film shorts made by Greek filmmakers and those of Greek descent, as well as films that promote the cultures of Greece and Cyprus. 
 
The Stavros Niarchos Foundation (SNF) is the lead supporter of the Hellenic Film Society USA. Additional support is provided by the Kallinikeion Foundation, the Greek National Tourism Organization, New York City Council, and Queens Council on the Arts.

For further information or to learn how to partner with us, please visit hellenicfilmusa.org or call 347-934-9497. We invite you to sign up for our mailing list and follow us on Facebook and Instagram.

Russian For.Min. threatens nuclear war

"Western arms deliveries to Ukraine mean that NATO is 'essentially involved in a war with Russia' and Moscow considers these weapons to be legitimate military targets," Russian Foreign Minister Sergei Lavrov said in an interview broadcast Monday.

Standard & Poor’s: Upgraded Greece to BB + with stable prospects

What the government has been expecting and touting, the upgrade of Greece's credit worthiness has happened on Good Friday. The American rating agency Standard & Poor's upgraded Greece's credit rating from grade BB to BB +, with a stable outlook, bringing the country just one step from the investment grade.

The upgrade reflects the house's expectation of a continuous improvement in the effectiveness of Greek policy, while the effects of the war in Ukraine seem manageable in light of significant security reserves in both the private and public sectors.

The agency estimates that higher energy prices and accelerating inflation will help slow GDP growth this year to 3.4% from 8.3% in 2021, with GDP expected to average more than 3%, in the period 2023-2025, thanks to the Recovery Fund and other transfers, and a strong expected further recovery of tourism profits.

Since 2020, governance effectiveness has been boosted through monetary and fiscal policy at the eurozone and EU levels, respectively.

The supportive monetary policy of the European Central Bank (ECB) facilitated access to the market for government borrowing at relatively low cost due to the inclusion of Greek government bonds in the Extra Market Program (PEPP) and as collateral in the repurchase operations of the ECB.

More recently, before the end of the PEPP in March 2022, the ECB clarified that it could continue to buy Greek government bonds beyond repurchases, if it records a deterioration in the transmission of monetary policy in Greece, while the economy is still recovering from the pandemic.

At the same time, the house records a significant improvement in the quality of the assets of systemic banks, as the percentage of non-performing exposures (NPEs) in total loans in the banking sector fell sharply to 12.8% in 2021, from 31% in 2020. S&P estimates it will be below 8% by the end of 2022.

"We believe that all these developments have enhanced the effectiveness of the transmission of monetary policy in Greece," he said.

Greece's creditworthiness continues to benefit from the government's significant fiscal security reserves and the favorable structure of public debt, the House adds.

"We estimate that the current cash reserves are equivalent to three times the borrowing needs for the next two years. "This, together with the low demand for commercial refinancing, will help keep public finances" immune "to rising interest rates worldwide, although raising real interest rates could put downward pressure on public finances, boosting GDP growth." .

The goal is achievable

The market considered the upgrade of Greece by S&P possible, even certain, considering the Greek goal of gaining an investment grade by 2023 feasible. The early repayment of the debt to the IMF works positively in this direction, while Greece is already starting to repay the bilateral loans of the first memorandum and during the summer it will come out of the regime of enhanced supervision.

The next ratings expected for our country are Fitch on July 8, the double verdict from Moody’s and DBRS on September 16, the third rating of Fitch on October 7 and the last for the year of S&P, as mentioned above, on October 21.

The market considered the upgrade of Greece by S&P possible until certain, considering the Greek goal of gaining an investment grade by 2023 feasible. The early repayment of the debt to the IMF works positively in this direction, while Greece is already beginning to repay the bilateral loans of the first memorandum and the summer will come out of the regime of enhanced supervision.

The next ratings expected for Greece are Fitch on July 8, the double verdict from Moody’s and DBRS on September 16, the third rating of Fitch on October 7 and the last for the year of S&P, as mentioned above, on October 21.

It confirms confidence in the Greek economy

After the current upgrade of Greece's debt by one notch by Standard & Poor's (S&P) credit rating agency , Prime Minister Kyriakos Mitsotakis stressed, through his Twitter account, that the country is a breath away from the "coveted", as reported, investment grade.

Specifically, he wrote that "after two years of pandemic and in the middle of war, it confirms the confidence in the Greek economy.

Mr. Mitsotakis also states that "we are a breath of fresh air from the coveted investment level, a seal of credibility that will upgrade the investment and development prospects of our country. We continue steadily with the same seriousness, dedication and hard work for the final straight! "

Meanwhile, in a statement, the Minister of Finance, Christos Staikouras, welcomes the move of the rating agency, pointing out that it is the third one that places the Greek economy just one "step" before the investment stage.

However, as he notes, "we do not ignore the great challenges, the risks and the new data that are shaping the recent international developments".

The statement of Finance Minister Christos Staikouras:

"The rating agency" S&P Global Ratings "today proceeded to upgrade the creditworthiness of Greece, by one notch.

This makes it the third rating agency, and the second of those selected by the European Central Bank, which places the country just one "step" before the investment tier.
This is the 9th - in a row - upgrade of the Greek economy in the last two and a half years, despite the successive and repeated crises.

The above positive development is a result - and, at the same time, a culmination - of prudent fiscal policy, prudent bond issuing strategy, high cash flow, the implementation of structural changes, the improvement of the quality of the country's wealth through increased investment and exports, the reduction the "red" loans in the banks' portfolios, the reduction of unemployment, the improvement of the competitiveness of the economy.

However, we do not ignore the great challenges, the risks and the new data that are shaping the recent international developments.

That is why we continue to responsibly and prudently support households and businesses to the best of our ability, while remaining true to our central goal of achieving strong and sustainable growth, creating many good jobs and further enhancing social cohesion."

April 22, 1941: The sinking of the destroyer "Hydra" by the Luftwaffe

On the afternoon of April 22, 1941, during World War II, the destroyer of the Greek Royal Navy "Hydra" sank as a result of a German air attack in the sea area of ​​Lagousa (Laoussa), a group of islands (Eleousa, Panagosa, Gaitosa, Panagrosa Kordeliaris) of the Saronic Gulf, between Aegina to the south and Salamis to the north.

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