Friday, May 11, 2012

The failure of the Greek State to provide for its citizens engendered a disillusioned society

Greece is a case of a state that failed, a case of despair that forced its citizens, those that are at least self-conscious, to exclaim instead of the more than valid “I am proud to be Greek”, the self-pitied “I am sorry to be Greek”. These are the same Greeks that abstained from voting in the recent elections or as an “immature” form of protest voted for radical parties than now possess a catalytic say in the future of the Country.

The oxymoron is that although more than 70% of Greek voters would like to remain in the Eurozone, the vast majority of them voted for far left-wing parties and far-right wing parties and the neo-Nazi Gold Dawn party, most of which want Greece out of Europe or are fiercely against the EU austerity measures...

Oddly, the country that bread such great thinkers and statesmen whose contributions are considered to be the basis of modern economic thought and management of the world of today, is a country that failed at almost every aspect and a state that is not in a position to provide for its citizens engendering a disillusioned society.
The responsibility lies with everybody but mostly with the Greek political leaders and citizens who have to surpass themselves, their complexes and despair. Characterized by a spirit of collectiveness putting their personal and party interests aside they have to all brawl for a European Greece. Only an idiot and ignorant would even insinuate that a Greece outside the Eurozone would be a better Greece. The moment that Greece exits the Eurozone, that same moment, Greeks will be reminiscent of the Nazi occupation with "snugness"!

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Thursday, May 10, 2012

Does another Leviathan lurk offshore Crete?

Pytheas Chairman & Group CEO, Mr. Harris A. Samaras is interviewed by Interfax

At an interview with Interfax’s Editor and Senior Reporter Leigh Elston, Pytheas Chairman & Group CEO, Harris A. Samaras expressed Pytheas’ opinion that Europe is currently confronted with a unique challenge and a remarkable opportunity! The already confirmed and estimated discoveries of substantial hydrocarbon deposits in the Southeastern Mediterranean signify that for the first time ever in Europe’s energy history, the EU may be guaranteed an uninterrupted supply of a traditional energy source!

A most important development (and a pan-European one), especially in view of recent scientific estimates that imply huge hydrocarbon deposits lie in the south and southwest of Crete. A development that the government of Greece has to set as priority and ensure that an appropriate framework and solid plan are put in place in order to commence investigation as quickly as possible.

Extracts from Interfax’s article:

In line with Cypriot ambitions to develop the island into a gas export hub, Harris Samaras, chairman and chief executive of investment bank Pytheas, believes a pipeline to Europe could be compatible with an LNG project. As long as the pipeline avoided the 3,000 metre Herodotus Abyssal Plain, it could be both economically and technically feasible, he told Interfax.

“To build a pipeline will take another 10 years, to build a liquefaction plant will be anything from four to six years. If even half of the deposits exist, let’s say 20-30 tcm, there’s enough gas there to satisfy Europe’s gas demands for at least a century,” he said.

“Cyprus and Israel can commence exploitation with CNG, then with LNG and pipelines. In regard to Greece, it is much simpler; connect Crete to mainland Greece via pipeline and then through Italy to the rest of Europe… but it all depends on how promptly Greece will go ahead with its exploration activities.”

EU involvement

With the future of the government in Athens uncertain, Samaras stressed the importance of EU involvement in both encouraging the exploration of Cretan and Greek gas reserves, and the development of the pipeline.

“This is an opportunity for the EU to limit its external vulnerability to imported hydrocarbons and, at the same time, to provide secure and affordable energy to EU consumers, not to mention promote growth and jobs. It only makes sense for the EU to be more actively involved. Why shouldn’t they when it is the EU that will benefit more than anyone else?” Samaras said.

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