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European stocks have fallen sharply in trading after George Papandreou, the Greek prime minister, called for a national referendum on a eurozone-backed rescue package for his country's debt-crippled economy. Papandreou's call for a referendum raised the prospect that Greeks, a majority of whom oppose crippling austerity cuts which have been a precondition for international bailout funds according to polls, will derail the rescue efforts agreed by European leaders last week that would provide a $140bn loan to Athens and write off half of the country's debt. There is concern that the referendum would be unlikely to take place before January, creating months of uncertainty for the markets. The announcement has taken other European leaders by surprise, ahead of the G20 summit in Cannes, France, this week. In Germany, a member of Angela Merkel’s centre-right coalition said the news of the referendum gave the impression that Greece was trying to backtrack on its deal with EU leaders.
Pray:for the EU as it seeks a solution for the financial problems that are troubling them, especially the Greek situation. (Pro.3:13)
More:http://english.aljazeera.net/news/europe/2011/11/201111182840767842.html
A case against the EU deal has been brought by German plaintiffs, and the Greek vote could mean nothing if a court case launched by a group of German citizens derails Germany’s financial contribution to the bailout. The group, led by a member of parliament for the Christian Social Union party, includes legal academics led by Nuremberg constitutional law professor Karl Albrecht Schachtschneider. They argue that the bailout is unconstitutional both in German and European law. In the first instance, they argue the process by which the €22bn contribution to the Greek bailout package that was approved by Germany was improper. Also the moves infringe upon their rights as German citizens. They lean on article 125 of the Lisbon Treaty ’no bailout’ clause which expressly forbids the EU or a member state from undertaking the responsibility of covering the debts of another member state. Pray: for all that is hidden to be revealed and for leaders to use sound judgment and Godly insights pronouncements. (Pr.8:14-16) More: http://www.cityam.com/wealth-management/legal-battle-could-yet-sink-the-greek-bailout
Greece's economy is in dire shape, and both the country's leaders and residents face an uphill battle to escape what could become a five-year recession. Recent economic reports revealed that the recession was deeper than originally thought. And with news like that splashed across national headlines, many Greeks have turned to religion for some kind of relief. ‘The church is the last resort for everyone. Even more so when people have problems,’ said church goer Stelios Papayoannou. ‘It is human nature to forget God in good times and remember him in hard times.’ Greek worshipper Maria Libery added ‘With faith people can overcome all difficulties. This is why we flock here, to church.’ She continued ‘Times are hard everywhere. Church can bring relief to our soul and make us feel that there is something outside of this life. I believe this is why we go to church.’
Pray: for all those facing hardship due to the economic situation to find an answer in Christ. (Ps.62:8)
More: http://www.cbn.com/cbnnews/world/2011/November/Greeks-Attend-Church-as-Economic-Uncertainty-Grows-/
Greece is close to agreeing to a new set of austerity measures, which will affect both the public and private sectors, that would unlock the emergency loans from the European Union and the International Monetary Fund that the country needs to keep its economy afloat. In the private sector, employers who have more than 200 people in their work force would be able to sack 4 per cent of them at once rather than the 2 percent in place now. There will also be a gradual phasing out of the 13th and 14th monthly salaries that employees receive as Easter, Summer and Christmas bonuses, possibly over the next five years. In the public sector, civil servants will lose their 13th and 14th monthly salaries and their supplementary pay,
which has already been cut by 30 percent, will be reduced by another 5 per cent. This would represent savings of 1.7 billion euros, or 0.6 per cent of Greece’s gross domestic product.
Pray: that the spirit of the Greek population will not be broken by these enforced measures. (Pr.10:15)
More: http://www.ekathimerini.com/4dcgi/_w_articles_politics_100002_29/04/2010_116768
The Greek Orthodox Church in Great Britain has spoken of its concerns for Greece as the country struggles to free itself from a crippling debt crisis. Capital city Athens was rocked by violent protests on Wednesday as Greek riot police took on hundreds of protesters angry over the government’s austerity measures. After power-sharing talks collapsed yesterday, Greek Prime Minister George Papandreou announced he would form a new government and seek a parliamentary vote of confidence in a renewed effort to push through the unpopular austerity package. Charis Mettis, spokesman for the Greek Orthodox Archdiocese of Thyateira and Great Britain, said he was ‘very worried’ about Greece. ‘It is a very serious situation,’ he told Christian Today. ‘We hope that Greece won’t be landed with a dictatorship. Something similar happened in 1967, when politicians could not agree and the army moved in. We hope that won’t happen this time.’
Pray: for the people of Greece as they face such difficult situations. (Dt.17:8)
More: http://www.christiantoday.com/article/church.fears.dictatorship.in.debtburdened.greece/28160.htm
57 believers were arrested last Sunday for distributing the New Testament to homes in Northern Greece. Greek Orthodox Priests are opposing 400 volunteers from 25 countries from gathering near Philippi in a Bible distribution project. Few Greeks own a copy of the New Testament. If they do - it’s in older Greek that most would not understand. The Bible is viewed as only being understood and interpreted by the priest, theologians or academics. This modern translation approved by the Greek State Church is being distributed by Hellenic Ministries and contains endorsements from 4 patriarchs of the Orthodox Church from around the world. Objectors condemned Hellenic Ministries as a cult despite there being no attempt to divert from the teachings of the Bible or of the early church fathers which are so dear to the Greek Orthodox Church. Some priests have instructed their parishioners to burn the copies of the scriptures that have been given to them by volunteers.
Pray: for an end to antagonism between believers and for God to envelop the Greek Church in transformation. (Jn.17:22) See also item 3 in World section
Very few Greeks own a copy of the Bible, regarded as a study book for theologians and clergymen. During this project 90,000 households will be receiving a beautifully bound copy of the New Testament in a language they would expect to find in their daily newspaper. It is the sort of Greek the venerable apostle would have used if he had been sending out his epistles today. This summer 750 villages and towns in the area surrounding Corinth, Greece will again be receiving the letters from Paul as well as the rest of the New Testament writers when 300 volunteers from around the world take part in mass distribution of Scriptures in modern Greek to 90,000 homes. This project is the biggest evangelistic effort in the long history of Greece.
Pray: for God to be preparing hearts and minds to receive His gift of the living word. (Heb.4:12)
More: http://www.breakingchristiannews.com/articles/display_art.html?ID=8941
Archbishop Hieronymos II of Athens and All Greece on 2 February warned the Greek government of a possible social upheaval if more austerity measures are ushered in by international financial institutions overseeing the sovereign debt crisis. ‘Our hearts are shattered and our minds are blurred with all that is taking place,’ he said in a letter sent to interim Greek Prime Minister Lucas Papademos, extracts of which were published on the Greek Orthodox Church's official site (www.ecclesia.gr). ‘The phenomenon of the homeless and the famished, a reminder of WWII occupation conditions, is taking nightmare dimensions,’ wrote Hieronymos. The interim coalition government is in the midst of critical talks with the EU's International Monetary Fund and European Central Bank to secure additional funds to avert a default over Greece's huge debt burden.
Pray: for the government of Greece as they face up to this crisis. (Pr.1:20)
A 24-hour general strike is under way in Greece in protest at the nation's austerity measures. Flights and ferry services have been cancelled, schools, government offices and tourist sites closed and hospitals are working with reduced staff as at least 16,000 people joined protests organised by the main unions in central Athens. The European Commission is discussing ways of propping up banks in Europe to protect them from the Greek crisis.
Pray: for God to give all those in positions of authority in Greece much wisdom. (Pr.3:13,14)
The bravery and courage of ancient Spartans is legendary. The name conjures up visions of fearless soldiers charging into battle without thought of life or limb. The word ‘spartan’ has crept into the English language to describe conditions that are at the opposite extreme from comfortable and luxurious. For the past week Sparta has been the epicentre of a missionary outreach that has reached and touched thousands of homes through a team of 180 from countries as diverse as Canada, Romania, Italy, South Africa, Germany, the Netherlands, the USA and Albania. In all 60,000 households received a copy of the New Testament in contemporary Greek as part of a project called Operation Joshua. One participant described it as a ‘Tsunami of blessing’ as energetic teams using some 50 cars, criss-crossed the sparse and mountainous region. They have gone to over 800 villages in some of the remotest areas of Greece bringing the message of life. Pray: that the blessings thus achieved in Sparta will take root and prosper. (Lk.13:19) More: http://www.christiantoday.com/article/gods.time.for.greece/26430.htm