Europe
Deciphering the Greek verdict and the entailed ordeal
In a tectonic shift in the history of Greek politics, the leftist party Syriza has come at the helm of Parliament of Hellenes. The former coalition government of New Democracy–Pasok headed by former Prime Minister Antonio Samaras failed to get their Presidential candidate elected even in the third round of parliamentary presidential elections, which led Greece into snap elections and dissolution of the erstwhile parliament.
The radical leftist Syriza party led by Alexis Tsipras secured 36.3%, it formed a coalition with Independent Greeks thereby commanding a majority in the parliament. The dynamic 40-year-old Alexis Tsipras was consecrated the Prime Minister on 26th January. The event is unprecedented as the victorious side is anti-austerity. Greece has been battling a perilous financial crisis since over half a decade now. In dearth of any private lenders for stabilizing the Greek economy, Eurozone countries and IMF handed out phased bail loans to Greece inevitably imposing austerity measures on the Greek government.
Austerity subsumes, inter alia, minimalizing government employee wages, increasing taxes, spending cuts. The Greek population faces the brunt due to all this. Tsipras’s appeal to the voters was his staunch anti-austerity stance, he stated that he would make sure that the “troika” (European Commission, European Central Bank and IMF) controlling Greece’s economic affairs based on the bail out loans shall be put behind as a part of his debt restructuring and reform strategy. Tsipras’s populist appeal came in a time when the Greek citizens are worn out with the struggle against recession and the still impending austerity measures. Tsipras’s victory has sent ripples gushing to Brussels with the speculation of “Grexit” that is Greek’s exit from Eurozone gaining momentum. Sequestering from Eurozone would be a very bold move as the membership to Eurozone is irreversible. However, if Greece does go that way, there will be long and far reaching consequences for both the parties involved.
Greece economic stability is still hinged to lenders even if it introduces effective fiscal reforms, as it will take time to recover. However if Greece leaves Eurozone then it will have no primary lenders to help revive the economy. Greek government seems to be pushing for debt write-off from ECB which will majorly impact the credibility to the lenders. Other Eurozone nations are already voicing their concerns over outrageous demands from Greece. Greece cannot expect to win an argument over this against the central bank and that might force its exit. Essentially if Tsipras fathoms to find a middle ground of debt restructuring with the central bank he will fail in keeping his election promises. He certainly faces an ordeal upon the Eurozone matter but sticking with the zone and finding convergence makes a plausible choice so far.
Europe
Barcelona and Athens: cities that will leave an everlasting impression
Finding the ideal destination for a holiday or a good long weekend can be challenging without access to many alternative options. Luckily, there are cities that need no introduction to know that they hold the solution; such is the case with Barcelona, in Spain, and Athens, in Greece, which you should always have at the top of your list of potential places to visit.
Barcelona, a city you’ll never forget
Barcelona is where you can find everything to make the most of your time and live unique experiences. Just go online and search for a city guide of Barcelona to review everything and start planning your trip.
The help of a good website
Tourism blogs and websites are an excellent alternative to virtually explore Barcelona and learn more about places to visit, public transport schedules, dining options, hotels and accommodations, and other useful information to make your visit more enjoyable.
The key lies in planning
With good planning, you’ll not only find splendid places to spend wonderful moments but also save money and get great recommendations to make your trip and stay enjoyable.
Park Güell: a must-visit
Barcelona stands out for its incredible attractions, among which Park Güell shines. Just read more about this interesting place to fall in love with it and make this visit mandatory.
What is Park Güell?
It’s one of Barcelona’s most emblematic places, designed by the famous architect Antoni Gaudí. Originally conceived as a housing development and later converted into a public park.
Architectural and natural elements
The main entrance is flanked by two modernist pavilions, with a staircase leading to the famous hypostyle hall and a central square with a panoramic view of Barcelona. Additionally, it features over 17 hectares of gardens, viaducts, and winding paths, integrating architecture with the natural landscape.
Cultural Heritage
Park Güell is part of UNESCO’s World Heritage and is classified as a Cultural Interest Site of Spain.
Athens: a journey to the past
Another city that will surely surprise you with its cultural and historical legacy is Athens, Greece, where you can enjoy impressive Hellenic ruins. It’s advisable to visit an Athens travel guide on the internet before you go to learn about everything and better organise your visit.
Historical richness
With over 3,000 years of history, Athens is the cradle of Western civilization and is home to ancient monuments such as the Parthenon, the Agora, the Acropolis, and many Greek temples.
Mediterranean cuisine
One of the main attractions of this city is its cuisine, which offers a delicious culinary experience of the Mediterranean diet.
Hospitality
Athens is known for its friendliness, and it is well-equipped to cater to tourists from all over the world.
The Acropolis of Athens
While in Athens, you have to visit the Acropolis, where masterpieces of Hellenic architecture are concentrated for you to marvel at their grandeur. Keep in mind that it is a highly visited site, so you should book now to secure access for your visit.
Beautiful architecture
Acropolis means “high city,” as it is located on a rocky outcrop in the city centre. Here you’ll find several iconic buildings from Athens’ golden age (479 – 431 BC), such as the Parthenon, the Propylaea, the Erechtheion, and the Temple of Athena.
Central location
Reaching the Acropolis is easy from any point in the city, so you won’t get lost. From there, you’ll have panoramic views of the city spreading out at your feet.
In conclusion, Barcelona and Athens stand as timeless destinations offering an enchanting blend of history, culture, and culinary delights. Whether exploring the iconic landmarks of Barcelona or delving into the rich historical tapestry of Athens, these cities promise unforgettable experiences for travellers seeking adventure and discovery. With careful planning and the aid of modern resources, embarking on a journey to these vibrant metropolises ensures a truly memorable escape.
Europe
National Police arrests 60 people for money laundering in Majorca
In Mallorca, the National Police have dismantled a criminal organization allegedly dedicated to laundering drug money. According to preliminary investigations, those involved are alleged to have laundered more than one million euros over the last year.
At the moment, the authorities have arrested a total of 60 people for the alleged crimes of money laundering and false documentation. Although investigations are still ongoing, leading Spanish criminal lawyers have pointed to the possibility of an increase in the amount of money laundered.
In addition to this, specialists in Criminal Law and Financial Crimes such as Luis Chabaneix have pointed out that during the next few days the number of arrests could increase, both in Madrid and in Mallorca. It should be noted that of the 60 arrested, 55 were arrested on the island and the other five in the city of Madrid on Sunday, May 16.
Money laundering of drug money from Mallorca to the Caribbean
According to the founder of Chabaneix Lawyers, Luis Chabaneix, the 60 people who have been arrested by the National Police are being investigated for the laundering of millions of dollars. It is presumed that more than one million Euros from drug trafficking activities have been sent to Latin American countries such as the Dominican Republic and Cuba, and even shipments to the United States have been registered.
In these countries, the money diverted by the criminal association has been used for the purchase of real estate and vehicles. For this reason, the National Police is in permanent collaboration with the North American, Cuban and Dominican authorities in order to dismantle the activities of this group in the different countries.
Likewise, among the main information provided by the authorities, it should be noted that more than 400,000 Euros in cash were seized from the hands of those arrested in Mallorca. Similarly, the police searches carried out on the island led to the seizure of multiple luxury items and accessories, a total of three kilos of cocaine and approximately 60 kilograms of cutting substances.
Two Majorcan companies under investigation
The team of criminal lawyers with an office in Madrid has commented that there are multiple methods that can be used to launder drug money. In the particular case of the criminal organization headed by a nationalized citizen of Cuban origin, one of the methods used to divert the money was international bank transfers.
For this purpose, the use of linked bank accounts of certain front men was a fundamental element. In addition, the case includes investigations of split money transfers through call shops.
On the other hand, through an official statement, the National Police informed that two Majorcan companies have been linked to the ongoing investigation. The reason for this is the issuing of fraudulent invoices for a value close to 200,000 euros.
Through these methods, the criminal organization has managed to launder capital inside and outside the country, legalizing large sums of money allegedly originating from drug trafficking. Undoubtedly, the arrest of the 60 people involved, including the leader of the organization, is a serious blow to the laundering of drug money in Spain.
Economy
Seasif’s Franco Favilla discusses the post-Covid economy and the price of gold
Although the Covid-19 pandemic isn’t over yet, there has been much discussion on the idea of a “post-Covid” economy, especially with the beginning of vaccination efforts in some countries. With markets throughout the world suffering the economic effects of the virus, experts have been looking towards the future –– and one of the topics that often comes up is the price of gold.
In August, the price of gold exceeded US$ 2,000 an ounce for the first time, driven by multiple factors. However, in November, advancements in Covid-19 vaccines led to a decrease in this trend, a result of the turbulent period we are going through.
“Regardless of the market volatility and the price changes that could occur over a given period of time, the fundamental fact is that the price of gold over the course of 2020 has reached an all-time high, and this, in my opinion, is very good news for the world economy,” explains Franco Favilla, founder and CEO of Seasif, a multinational company active in the extraction and trading of gold and oil.
According to Mr. Favilla, the main problem of the pre-Covid economy was the completely arbitrary nature of international finance. At one time, a ton of gold corresponded to a ton of currency, but since the 1980s, and at an impressive rate since 2000, the gap has widened enormously, so much so that today the relationship between the world’s currencies and gold is enormously unbalanced.
Total gold reserves around the world cover only 30% of currencies. This means there is nothing to cover and guarantee the value of money. In short, money has turned into a pure convention, a pure agreement between parties acting outside the market. Gold, on the contrary, guarantees democracy, because it protects savers and the market, offering an objective value for parameterizing every transaction.
“My hope, therefore, is that the crisis caused by Covid-19 will help to change finance, making it less ‘phantom’ and more linked to an objective dimension, based on gold, with obvious advantages for the real economy. Gold protects consumers, the most important component in any economic system: if you don’t have a market made up of consumers with a certain level of wealth, how can you sell? To whom? Consumer protection must come first, and gold is one of the main ways of protecting them,” states the CEO of Seasif.
Sustainability has also been at the forefront in discussions about the post-Covid world, as countries look towards establishing a more resilient global economy, one able to better withstand such events in the future –– and “green gold” may well be a part of that future. Green gold, in a sense, can be considered the “gold of the future” due to its ethical and sustainable extraction process. Seasif produces green gold, with a department entirely dedicated to green, and has allocated economic incentives to its continued production.
Even as 2020 draws to a close, the future may still look uncertain. But for those searching for greater security, gold may be one of the few certainties left.
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