OPINION - It Is About To Get Ugly: Oil Is Crashing And So Is Greece

The following opinion article is from Michael Snyder and first appeared on the Economic Collapse Blog. Link below.

The price of oil collapsed by more than 8 percent on Wednesday, and a decision by the European Central Bank has Greece at the precipice of a complete and total financial meltdown.  What a difference 24 hours can make.  On Tuesday, things really seemed like they were actually starting to get better.  The price of oil had rallied by more than 20 percent since last Thursday, things in Europe seemed like they were settling down, and there appeared to be a good deal of optimism about how global financial markets would perform this month.  But now fear is back in a big way.  Of course nobody should get too caught up in how the markets behave on any single day.  The key is to take a longer term point of view.  And the fact that the markets have been on such a roller coaster ride over the past few months is a really, really bad sign.  When things are calm, markets tend to steadily go up.  But when the waters start really getting choppy, that is usually a sign that a big move down in on the horizon.  So the huge ups and the huge downs that we have witnessed in recent days are likely an indicator that rough seas are head.

A stunning decision that the European Central Bank has just made has set the stage for a major showdown in Europe.  The ECB has decided that it will no longer accept Greek government bonds as collateral from Greek banks.  This gives the European Union a tremendous amount of leverage in negotiations with the new Greek government.  But in the short-term, this could mean some significant pain for the Greek financial system.

The following is how a CNBC article described what just happened…

    “The European Central Bank is telling the Greek banking system that it will no longer accept Greek bonds as collateral for any repurchase agreement the Greek banks want to conduct,” said Peter Boockvar, chief market analyst at The Lindsey Group, said in a note.
    “This is because the ECB only accepts investment grade paper and up until today gave Greece a waiver to this clause. That waiver has now been taken away and Greek banks now have to go to the Greek Central Bank and tap their Emergency Liquidity Assistance facility for funding,” he said.

And it certainly didn’t take long for global financial markets to respond to this news…

    The Greek stock market closed hours ago, but the exchange-traded fund that tracks Greek stocks, GREK, crashed during the final minutes of trading in the US markets.
    The euro is also getting walloped, falling 1.3% against the US dollar.
The EUR/USD, which had recovered to almost 1.15, fell to nearly 1.13 on news of the action taken by the ECB.

But this is just the beginning.

In coming months, I fully expect the euro to head toward parity with the U.S. dollar.

And if the new Greek government will not submit to the demands of the EU, and Greece ultimately ends up leaving the common currency, it could potentially mean the end of the eurozone in the configuration that we see it today.

Read more at the: Economic Collapse Blog

Turkey Rejects Tsipras Proposal To Recommence Cyprus Talks

The proposal made by Prime Minister Alexis Tsipras to recommence talks on the Cypriot dispute was apparently rejected by the government of Ankara, said that Turkish daily Hurriyet in one report on Tuesday.

Sources told the paper that the Turkish government is not willing to withdraw the Barbaros research vessel from the Cypriot EEZ and that Ankara is not planning on changing its stance on the issue.

Turkey, according to the author of the article, is standing by three positions: That a UN solution is promoted; that the natural sources belong to the united Cyprus and that a committee be formed to manage any income derived from natural resources.

Greece and Cyprus consider these positions unacceptable and stress the need for Turkey to end its provocations and respect the sovereignty of Cyprus by withdrawing its research vessel from Cyprus' EEZ, so that talks can recommence.

Reference: Hurriyet

Tsipras: Greece & Cyprus pillars of stability in the region

Resolving the Cyprus issue is the cornerstone for Greek-Turkish relations and the consolidation of stability in the region, Prime Minister Alexis Tsipras said in joint statements with Cyprus’ President Nicos Anastasiades after their meeting in Nicosia on Monday. The enikos news site quoted Tsipras as saying that the economic crisis has burdened Greece and Cyprus and ending the Troika model would be a "positive institutional step." The Greek PM added that both Greece and Cyprus remain two significant pillars of stability in the region.

When asked to comment on Turkey’s violation of Cyprus’ exclusive economic zone (EEZ), Tsipras apparently noted the dispatch of the "Barbaros" research vessel which he said is "a flagrant violation of the international law and undermines the bilateral talks.”

When reporters asked him about a possible Russian loan, the Greek premier said that the government in Athens is in discussions with partners who have already lent Greece much needed capital and he noted that there are "no other thoughts" (on a possible loan from Russia).

He did however state that Cyprus and Greece can become "a bridge of peace" between Europe and Moscow.

(Editor's Note - Let us hope that the solution to the Cyprus issue does not come with another devastating Annan-type plan...  Moreover, we cannot forget the statements that have been made over time by various SYRIZA MPs regarding Greek-Turkish relations and the division of the Aegean Sea. Also, the recent comments by the government, or its sudden warming up to Moscow, does not convince us here at HellasFrappe that Greece has suddenly decided to rebuild its ties with Russia. We have yet to see any tangible hands on efforts towards such a development. As far as we are concerned it could just be deaf statements by the Tsipras government who we truly believe -judging by the Ministers and MPs that represent it- to be another Papandreou-style government. We truly hope that our instinct is wrong on this issue because we believe that Greece should befriend all nations, and be on equal terms with both the super powers of the West and the East. One of our readers asked us to give SYRIZA the benefit of the doubt... We will, and every time they adopt decisions that benefit Greece we will applaud them, however they are failing to convince us about their sudden love for Russia because they already turned down several privatisation offers -which were reportedly made by Russians in Greece-, and let us not forget that last week they also turned down the Chinese offer for the port of Piraeus.)

Lafazanis Says Gov't Considering Changes For Greek Hydrocarbons Tenders

Production Reconstruction, Environment and Energy Minister, Panayiotis Lafazanis said that he is going to look into the ongoing international tenders for exploration and exploitation licences in three land blocks in western Greece. He said that he is going to do this for possible changes before its deadline.

It should be reminded that the tender, concerns blocks in Arta-Preveza, Etoloakarnania, and northwest Peloponnese, and expires on February 6th. It was launched by the previous government based on terms stipulated by EDEY, the Greek Hydrocarbon Management Company.

     "We’re examining the issue. We may need to intervene before the deadline expires and offers are submitted," Lafazanis, the newly appointed minister, told enerypress.

The same formula had been applied to a preceding - and finalized - tender for three other blocks along Greece’s western flank, in Ioannina, the Gulf of Patras, and Katakolo.

SYRIZA has in the past disagreed with the specific model used by EDEY, noting, in Parliament, that it does "not promote and protect the interests of Greek people", but, instead, transfers, "medium-to-long term state benefits" to the private sector.

Source: energypress.eu

Ambitious natural gas subsidy plans put on hold

An ambitious subsidy plan from Greece's Ministry of Environment to replace heating oil with natural gas boilers has apparently put on hold, with almost 10,000 applications pending.

According to a report in the Ta Nea newspaper, thousands of consumers are still waiting for the government to implement the proclamation it made in September. The report reveals that some 15 million euros from the Public Investment Program were to be provided as subsidies to fund the central heating upgrades. However, with half of the winter season almost over, the January 25th elections and the process for connection to the natural gas network taking about two months, many Greek consumers are bound to be disappointed because the plan will probably not be applied this winter season.

Davutoglu In Athens To Discuss Cyprus Issue (& Hydrocarbons)

Turkish Prime Minister Ahmet Davutoglu would arrive in Athens on Friday in order to participate in the Third Supreme Council of Cooperation with Greece. Sounds innocent enough, but a reports about the Turkish delegation's trip to Thrace had sparked a wide range of criticism over the past few days so to avoid any diplomatic problems, it was announced that Davutoglu is going to meet up with Muslim clerics and MPs from Thrace (in Athens perhaps).

(Oxi Giannis, Giannakis)

His visit comes at a time when there are increased tensions over energy deposits in the Mediterranean and as a result there are quite a few people who are opposed to his visit. To limit all possible complications, circulation will be limited in downtown Athens on Friday (and protests and marches have been prohibited).

Prior to the meetings, Davutoglu is set to meet with President of the Republic Karolos Papoulias and Greek Prime Minister Antonis Samaras. Press reports in Greece claim that Foreign Affairs Ministers Evangelos Venizelos and Melvut Cavusoglu are also going to attend these meetings as well.

The same sources speculate that the topic of discussion will center around the Cypriot dispute, but the recent developments in the Cyprus' EEZ, (where Ankara insists on carrying out hydrocarbon surveys), do not really make for the perfect setting, nor are they grounds to make analysts believe that something positive will come out of these talks.

It should be reminded that ahead of the talks Cavusoglu once again made it clear that Turkey is not going to withdraw the Barbaros survey vessel in Cyprus EEX so as to facilitate the resumption of talks as long as the government in Nicosia continues its search for oil and gas without the involvement of Turkish Cypriots.

     "Whenever the unilateral drilling activities will stop we will withdraw the Barbaros," he told the Kathimerini newspaper.

The talks are part of confidence-building measures launched in 2010 to improve relations between the Aegean neighbors. So far, some 50 accords on immigration, disaster response, tourism, health, transport, agriculture, immigration, culture and sport have been signed (but who knows if they have been respected). It is important to note that one of these accords is apparently going to be "re-evaluated" during the visit.

OPINION - Oil & Gold - Weapons Of Those At War

Gold price leaps higher Oil price and Rouble plunge Weapons of 21st century war

By John Ward (The Slog) - The Rouble has suffered its biggest day fall for 16 years. It dropped 7.1% against the $US. The oil collapse that – as predicted here last year – started the plunge has the Texas Tea now down at just over $72. And in reaction – or as merely one of its sap-magnet ‘rallies’ – Gold has been leaping ahead today: it rose $53 to 1204 after one slight pause as the NYSE opened.

But was it a reaction….and if not, was it a manipulated rally?

Last week an East European contact insisted to me that Vladimir Putin is doing both of the following: selling oil at huge discounts in direct gold swaps; and when he can only sell in Dollars, immediately piling into Gold with the bucks he gets. That followed a blog from Dmitry Lkinechenko on the Gold Eagle site a few days earlier confirming the latter of the two selling modes.

The gold stats available confirm that this isn’t just blogosphere bollocks: in this final quarter so far, Russia has purchased a staggering 57% of all global gold….in order to stockpile ammunition for the fight.

But in the medium-term, he too will run out of road. His readiest customer for cheaper-than-cheap oil remains China, but China too is decelerating so hard there are sparks under the tracked wheels….and as I’ve blogged many times before, Russia’s energy-lopsided economy is even more unidimensional than our bank-paper economy.

In the meantime, yet another Russian leader finds the Winter coming to his aid: whatever Washington dictates, when the temperature drops, Russian neighbours need oil and gas.

This is how I read what’s going on: there is a slump, there is fiat currency overvaluation, and there is a geopolitical war starting. Oil and gold are driving, directly or indirectly, pretty much all of it.

Israel In Favor of Gas Pipeline to EU Via Greece & Italy

According to Euractiv, Israel has proposed that EU countries invest in a multi-billion euro pipeline to carry its natural gas from its Mediterranean coast, to Greece and Italy. The report claims that the supply from Israel would reduce Europe’s current dependence on natural gas from Russia.

The Israeli press reported that the proposal for the “massive” project was introduced by Israel’s Energy Minister Silvan Shalom to energy ministers from Euro-Mediterranean countries who met in Rome last week.

The project would require a multi-billion euro investment from Europe to build a pipeline from Israel’s Mediterranean coast to Cyprus, from where the gas would be carried on to Greece and Italy.

Reports say Cyprus, Greece and Italy were all supportive of the idea, and that Israel would make a formal presentation of the project to European representatives in Brussels in three weeks’ time.

Israel began pumping natural gas in March 2013 from the offshore Tamar deposit — discovered in 2009 and located some 90 kilometers west of Haifa — which holds an estimated 8.5 trillion cubic feet of natural gas.

Source: Euractiv

ANALYSIS - Did Cyprus΄ dream to become a major gas provider go up in smoke?

The regional conflict involving Cyprus, Turkey and Greece over energy reserves discovered in Cyprus΄ proximity in 2011 has escalated. After a number of recent failures in the international arena, the Turkish government may feel that it needs a victory in the Eastern Mediterranean at all costs. The following dilemma has given way to a great analysis on the situation by the PressProject. HellasFrappe decided to republish the article so that our readers can obtain a better understanding of what stakes are at play. We just want to point out that the views and opinions that are posted in this article do not necessarily agree and/or disagree with our own.

The story is fairly well-trodden now. Back in October 20, a research vessel, accompanied by two navy ships, was sent out from Turkey to do seismic testing within Cyprus's Exclusive Economic Zone (EEZ), an abuse of the UN Convention of the Law of the Sea, and an intimidation that led to Cyprus immediately calling off the ongoing peace talks between Cyprus and the self-declared TRNC (Turkish Republic of Northern Cyprus) in northern Cyprus.

With a Turkish navy ship also observing the deep-sea drilling of gas deposits from eight kilometers away, we are seeing an escalation of a conflict that began when large gas deposits were discovered in Cyprus' proximity in 2011.

     "The least I can say is that negotiations, in order to produce results, cannot be conducted under such conditions of provocation," said Ioannis Kasoulides, the Cypriot foreign minister.

From Cyprus's perspective, a peace process cannot be undertaken in the context of such provocation. Turkey is acting illegally against a former foe to strongarm its way to natural gas deposits in the Eastern Mediterranean that lie under Cypriot sea. But is there more to this dispute than meets the eye?

Undersea gas deposits should - and still could - transform Cyprus's economy, which has suffered greatly since 2011. An estimated 5 trillion cubic feet (tcf) of gas was thought to be discovered in one offshore field within Cyprus's EEZ three years ago; the Cypriot government subsequently licensed U.S. energy firm Noble, Italy’s ENI and France’s Total to turn the discovery into an economic reality.

Added to that the likelihood of Cyprus becoming a gas hub, with new-found Israeli gas also running through it to reach European markets, while being surrounded by energy consumers eager to wean themselves off Russian gas dependency, it is easy to see how Cypriots saw undersea gas as a panacea to their economic strife.

It seems that neighbours Turkey and the TRNC had other ideas. In the eyes of Turkey, Cyprus is an illegitimate country, as the TRNC is to the rest of the world. Pro-government newspapers this week have been discussing the fact that Cyprus's EEZ was always disputed by Turkey, and the last maritime agreement that both countries agreed to was in 1960, in which much of the gas fields are within Turkey's range. Ergo, Turkey has a claim on the gas - and is willing to settle for some sort of share of the proceeds being given to the northern part of the island.

The problem facing Ankara here is that regardless of what it believes, the rest of the world failed to sufficiently sympathise with the Turkish invasion and does not recognise TRNC. Furthermore, Turkey has failed to receive any hint of EU or American backing, and is running out of friends - as its recent failure to join the UN Security Council as a temporary member illustrates. "The United States respects the Republic of Cyprus' sovereignty and right to develop resources in its exclusive economic zone, in keeping with customary international law,” chided Joe Biden via an official statement earlier this month.

While Cyprus is focusing on trying to extract natural resources, the Turkish president Recep Tayyip Erdogan's current foreign policy seems to involve making as many enemies in the region as possible, alienating Kurds, Shias, and Israel; and governments opposing the Muslim Brotherhood; meanwhile traditional foes such as Greece and Armenia persist in the background. Lukewarm efforts against the Islamic State have angered many governments worldwide. So with Turkey's reputation at rock-bottom, is it more than just coincidence that Cyprus chose this moment to provoke the old adversary?

From Cyprus's perspective the timing is understandable. A country in economic dire straits has a now-or-never moment to plunder its lucrative natural resources, while its neighbour is too busy fighting other battles and trying to restore its flagging reputation.

To raise the stakes, Cyprus has threatened to veto any further Turkish EU-joining procedures. Meanwhile Israel and Egypt eagerly joined the dispute. Egypt, which has got on well with Cyprus ever since the days of Nasser, is irritated by Erdogan's pro-Muslim Brotherhood rhetoric, and are in need of a local gas imports as well as EU-member allies. Meanwhile Israel and Turkey have been carping at each other for the past four years; Israel badly needs this disagreement settled so it can start drilling for gas and sending it across to Cyprus. Cyprus, Israel, Egypt and Greece have held  several meetings this month. But how far will these countries allow the crisis to escalate?

Many countries would fold under the such international pressure. To place Turkey in this category however would be to underestimate the belligerence of Erdogan when under pressure. When criticised, his instinct is usually to double-down, particularly with an election drawing close. His parliamentary majority is very safe and most of the media are afraid to criticize his policies. His strong position, domestically, gives him flexibility in how he deals with this crisis; the Turkish navy has been strengthened a great deal this year; Erdogan's supporters seem to appreciate his tough rhetoric that now incorporates Israel and Egypt as well as Cyprus.

After a number of failures in the international arena lately the Turkish government may feel that it needs a victory in the Eastern Mediterranean at all costs. So how far could this go? It is worth considering what might constitute a 'victory'. Earlier this month the TRNC's foreign minister, Özdil Nami, was invited to Israel for a major energy conference, suggesting that at least Israel can envisage a positive outcome involving both sides of the island.

Would some compensation for the TRNC be a fair outcome? Whatever one may feel about the rights and wrongs of the northern occupation, one might suggest that treating one group more favorably than the other holds moral implications. Furthermore, Cyprus would benefit from a settlement in the sense that under the current economic climate, any capital inflows are welcome. With this in mind, the current bout of sabre-rattling between the two states could well be an elaborate bluff, designed to make the financial settlement for either side be as favorable as possible.

The outcome may depend upon whether Erdogan sees the vested interests in the Eastern Mediterranean as part of a zero-sum game or not. Turkey may not enjoy watching its neighbours get stronger for geopolitical reasons, but on the other hand, it, too, can benefit from having more diverse resources. A potentially alternative source of natural gas to Russia should always be welcome - as Erdogan clearly seems to think, judging by his trip to Turkmenistan last week, where gas contracts have been signed.

Turkey should be able to benefit economically from having more prosperous neighbours, as it has with its trade with northern Iraq. It has already started selling electricity to TRNC, and soon will sell water. For the past two weeks Sabah, a government mouthpiece newspaper, has kept silent on the Cyprus issue, perhaps suggesting the government would like to quietly built bridges. It is up to both sides now to see if that is attainable.

PressProject

Cyprus' Aphrodite Holds 12% More Natural Gas Than Initially Predicted

The Israeli companies Delek and Avner, which together with the American company Noble have the exploitation rights for the Aphrodite plot (or Plot 12) of Cyprus’s Exclusive Economic Zone (EEZ), stated recently that the natural gas deposit in the plot is 12 percent larger than initially predicted. The companies, says a report from Greece's state run news agency, made the assertion in an announcement at the Tel Aviv stock exchange.

According to the revised estimate issued by the two companies, the deposit holds 4.54 trillion cubic feet of natural gas.

Delek and Avner add that their goal is to include the Aphrodite plot in wider plans for the exploitation of the Israeli ‘Leviathan’ deposit and that, given the small size of the Cypriot market, the bulk of the fuel will be sold on the international market.

Source: AMNA

Greece & Cyprus May Take Legal Action Against Turkey

While briefing the parliamentary Standing Committee on National Defense and Foreign Affairs on the latest developments in the Eastern Mediterranean, Foreign Minister Evangelos Venizelos did not rule out the likelihood for Greece and Cyprus to take legal action against "Turkey's extreme, blatant and provocative stance which violates international legality/". He said that Ankara's stance and provocative actions in the Eastern Mediterranean prove that it does not respect international law since it decided to press forth and send the Turkish research vessel 'Barbaros' in Cyprus' continental shelf.

     "Our reaction so far is politically strong, but may assume a legal nature as well," he said.
     "Turkey has no substantive argument and there is no reason for concern as regards the mineral resources, which will belong to the central government that will safeguard the rights of both sides - Greek Cypriots and Turkish Cypriots alike - in a way that will be not only equal but also friendlier to the Turkish Cypriot side to be able to advance financially and rise to an equal status," added Venizelos.

The Greek Foreign Minister noted that the positive solution of the Cyprus issue is the catalyst for the Greek-Turkish relations, while he pointed out that the Greek side has never abandoned its steadfast position that Turkey's European prospect depends on its (the Cyprus issue) solution.

     "We continue all contacts on all levels in all 58 exploratory rounds. We have never abandoned the dialogue with Turkey in the context of the foreign policy that has been shaped in the past 40 years," Venizelos concluded.

SPECIAL REPORT - Analyzing Meeting Of Tsipras & Angelopoulou-Daskalaki & Upcoming Clinton Global Conference

HellasFrappe has published more than one report on main opposition SYRIZA party leader Alexis Tsipras' close ties to the former president of the 2004 Athens Olympics organizing committee, Mrs. Gianna Angelopoulou-Daskalaki. In our reports we noted that Mrs. Angelopoulos is fixated with making a name of herself in the political world and we had also mentioned on more than one occasion her close ties to George Papandreou, and Alexis Tsipras. We have also published many reports from the Greek press that claim that she wants to form a new political party with George Papandreou modeled after the US Democratic party and we have also revealed her close ties to the Clinton family. Anyone who has an ounce of logic knows that the Clinton family is closely affiliated with George Soros, so therefore would it be fair (once again) to assume that so is our little Alexis?

The latest news in the Greek press claims that Tsipras received Angelopoulou-Daskalaki shortly after noon on Monday and from what was reported the two are said to have discussed an upcoming conference that she is organizing for the next summer as part of the Clinton Global Initiative, which the former US President is expected to attend. Tsipras has not committed to participating and/or speaking at the conference, however nothing can be ruled out.

Angelopoulou’s move has widely been interpreted as an initiative with ulterior political motives (and for good reason). She has also avoided answering any questions regarding the upcoming Presidential elections in Greece. Recently she expressed her support for SYRIZA in an interview in the Kathimerini newspaper, and the opposition party -which was now totally exposed- pretended to be totally surprised.

HellasFrappe is not really all that surprised, we knew that their close ties would surface at some point or another and we had noted this in some of our past articles.

For instance: During his trip to the US in 2013, Alexis Tsipras did not formally meet with representatives of the Greek Diaspora, since he chose not to adhere to protocol which calls for a prior meeting with the Archbishop of America. Instead the leader of SYRIZA preferred to come into contact with other influential characters who he knew could open other doors for him.

On his first day in the US he chose to make a quick (and hush hush) ten-hour trip to San Francisco, where he met known businessman Angelo Tsakopoulos (Phil Angelides, who has served as chairman of the Democratic Party of California and responsible for public property of the state was also present at this meeting). Angelo Tsakopoulos (born 1936) is a prominent real estate developer in Sacramento, California and the founder and owner of AKT Development. Mr. Tsakopoulis is one of the main backers of the US Democratic party and a proud supporter of Barack Obama. He is also a personal friend of Bill Clinton.

During Tsipras' visit, Angelopoulou' circle of friends also made their presence known and she opened quite a few doors for him. Thus, it can not be considered a coincidence that the president of the Greek-American Institute (AHI), Nick Larigakis also played a significant role in Tsipras's trip to the US. Also, another central figure who was also present at the AHI event to honor Tsipras was none other than Mr. George Mermelas, the alleged owner of the well known lobby and public relations firm "Greek Dream".

Mr. Mermelas was a close friend to PASOK leader Evangelos Venizelos, when he was Minister of Culture (under the Simitis government). During the '90s the present leader of PASOK had handsomely funded Mr. Mermelas through the Ministry of Culture to promote Greece at Disney World in Orlando, Florida. Mrs. Gianna Angelopoulou-Daskalaki did the same thing during the Athens games, in fact she continues to fund Mermelas' institution until today, or at least this is what press reports claim. The same reports note that this specific institution has even held a special event in the US in her honor.

But by far, the most interesting highlight of Tsipras' tour in the US in early 2013 was to the American-Hellenic Institute. It was an event that journalists strangely avoided and only subtly mentioned. At the event, some faces of the past made their appearance and this is what the press purposely ignored! Two former US Ambassadors to Greece were present, or specifically, Mr. Daniel Speckhard and Mr. Thomas Miller and, what's more, they even took the time to snap a photo with Tsipras who was really loving the moment.

So who are these two men, and why all the fuss. Keep reading Frappers, and we are certain that you will begin putting the pieces of the puzzle together in no time.

According to kourdistoportocali, Thomas Miller climbed the ladder of success in Washington when his immediate boss, Richard Holbrooke, who was then acting as charge d'affaires at the Embassy in Athens (in September 1995 due to the absence of the then Ambassador Thomas Niles), was active in the consultations that led to the signing of the Interim Agreement between Greece and FYROM (13.09.1995). (And we all know that the Interim Agreement was not something that the government of PASOK is proud of, with the exception of George of course who we all know would sell his own siblings in the name of power.)

When Miller was US Ambassador to Athens, he would opene the doors to ministerial offices with ease, and this promoted American companies such as Lockheed Martin, as well as Motorola (allied friends with Socrates Kokkalis' Intracom company) to develop greatly during that period. He also became involved with a security system which was not only costly to the Greek state, but wasn't ever completed, nor delivered on time to serve as the center of security for the Athens 2004 Olympic Games. But idiotic Greek tax payers paid for it anyway.

And here is where it really gets juicy: Thomas Miller has been noted by the Greek press as being the man who is up to his neck in the wiretapping scandal against Costas Karamanlis which cost the life of former Network Planning Manager for Vodafone Costas Tsalikidis.

On to Daniel Speckhard.

Following his run as Ambassador to Athens, Daniel Speckhard became the non-executive chairman of the Greek Proton Bank - between the period February 1, 2011 until August 19, 2011. He assumed this position at a time when Lavrentis Lavrentiadis was having trouble with his second largest shareholder Mr. Ant. Athanasoglou.

Apart from being a managing partner at WEM Global Investment Inc, Speckhard is also a non-resident Senior Fellow, for the US and Europe at the famous Brookings Institute. Yes... The same institute where Tsipras gave his speech during his trip to the US and the same place that is highly funded by George Soros.

During that period, Speckhard played a major role in unlocking the doors for Tsipras, especially at the CSIS (Center for Strategic and International Studies), which is considered to be one of the top think tanks in the US. The aforementioned institution is well known in Greece, since Mr. Lavrentiadis, who apparently funded one of its divisions (or the unit of Southeast European Studies), had organized an event at the Astir Palace in Vouligmenni where characters such as Zbigniew Kazimierz Brzezinski were also present.

(Who is Brzezinski? Here is where it gets really interesting. Brzezinski is a Polish American political scientist, geostrategist, and statesman who served as United States National Security Advisor to President Jimmy Carter from 1977 to 1981. Sounds harmless enough, but googling his name a little bit more, HellasFrappe discovered an article on opednews which more or less presents him as being the equivalent of Henry Kissinger.)

Back to who Daniel Speckhard is, and how you will tie this all together.

According to Real News, a high-profile Minister of the Karamanlis government testified in January 2013 to special magistrate Dimitris Fucas and the things revealed only confirmed what the prosecution already feared, that the wiretapping case against the former PM as well as the assassination attempt against him are linked. In his testimony, the former Minister apparently spoke about the pressure that was exerted on him, in March 2008, by the then US Ambassador to Athens Daniel Speckhard shortly before the signing of the intergovernmental agreement between Greece and Russia on the construction of the South Stream pipeline.

Conclusion: Tsipras affiliation with Angelopoulou and her friendly relations to the Clintons, G.Soros, Speckhard and Miller only prove that the Americans are openly backing Tsipras for the role of prime minister, so that they can have "their man" in a prime position to ward off any decisions that are made in the future over Greece's energy development. Papandreou was their first choice, but thankfully he was sent to the Tartars. Today they are setting their bets on Tsipras and using the name of Karamanlis for a potential president of the republic because they are afraid that if he remains a simple MP then he could once again take over the ND party and this is something that the "establishment" obviously does not want.

But don't take our word for it... Check out the stories for yourself and you will see that it all boils down to "black gold" or our natural reserves. This is what the Greek oligarchs have their eyes set on at the moment, and it makes perfect sense why Mrs. Angelopoulos wants to affiliate herself with Tsipras because her husband has quite a few ships. Just go through some of the stories we have published over the last three years and we are guaranteed that you will agree with us, and you will also see why they loathed Karamanlis and targeted him - because quite simply he did not want to do their bidding. Do not remain ignorant. Read the facts, and then draw an objective conclusion.

BUSTED - Tsipras' Side By Side With T.Miller & D. Speckhard - What The Greek Media Purposely Ignored
http://hellasfrappe.blogspot.gr/2013/02/busted-tsipras-side-by-side-with.html

BUSTED - Gianna Angelopoulos-Daskalaki Finally Admits That She Backs SYRIZA
http://hellasfrappe.blogspot.gr/2014/07/busted-gianna-angelopoulos-daskalaki.html

SPECIAL REPORT - The Plot Thickens In Karamanlis Assassination Plot - More Details Exposed
http://hellasfrappe.blogspot.gr/2013/04/special-report-plot-thickens-in.html

Angelopoulos, Kokkalis, Papandreou, the Clintons & Harvard - What a Happy Family!
http://hellasfrappe.blogspot.gr/2012/10/angelopoulos-kokkalis-papandreou_1.html

Makeleio Show Explores Papandreou and SYRIZA Role In Downfall of Karamanlis (VIDEO)
http://hellasfrappe.blogspot.gr/2012/12/makeleio-show-explores-papandreou-and.html

SPECIAL REPORT - Setting The Record Straight On Greece's Natural Reserves & Who Betrayed Greece! (VIDEOS)
http://hellasfrappe.blogspot.gr/2013/12/special-report-setting-record-straight.html

SPECIAL REPORT - US: Cyprus Natural Gas Via Turkey Not Greece! - "Yes" to Nabucco "No" to TAP!
http://hellasfrappe.blogspot.gr/2013/02/special-report-us-cyprus-natural-gas-in.html

The Real "Terms" Of Bill Clinton's Visit To Athens Exposed!
http://hellasfrappe.blogspot.gr/2012/07/the-real-terms-of-bill-clintons-visit.html

EXPOSED - The US Plan For Greece - Energy, Euro, "Bridge" to The War In Middle East
http://hellasfrappe.blogspot.gr/2012/08/exposed-us-plan-for-greece-energy-euro.html

SPECIAL REPORT - The Tale Of Sex, Marriage And Natural Gas Pipelines Continues....
http://hellasfrappe.blogspot.gr/2013/04/special-report-tale-of-sex-marriage-and.html

BUSTED AGAIN - Papandreou, Brookings Institute, Columbia University, George Soros & One World Gov't
http://hellasfrappe.blogspot.gr/2013/02/busted-again-papandreou-brookings.html

Greek Reply To Turkish War Threat - We Have Our Own Rules of Engagement!

The Turkish government apparently authorised the county’s navy to implement recently amended Rules of Engagement to alledgedely "deal with" the tensions over energy exploration in the eastern Mediterranean, press reports from Ankara said on Sunday. Speaking at the Eastern Mediterranean Military Exercise (Blue Whale-2014), hosted by Turkey, Bostanoglu sent a chilling warning to Greece and Cyprus. He said that the Prime Minister of Turkey Ahmed Davutoglu handed the Rules of Engagement to the Chief of General Staff and the Chief of Staff then passed them on to the Naval Forces Command.

In simple terms, Turkey has prepared itself for war, and Bostanoglu left it to be understood that Turkey will not stop with its activities in the eastern Mediterranean, while he also had the audacity to state that Turkish forces will keep a close eye on Greek Cypriot oil research vessels in Cyprus' very own EEZ.

     "We will act in line with these Rules of Engagement in the event we face a situation over this issue” he said and added: “Our naval forces elements will continue their mission of situational awareness in the region.” 

The Vice Admiral stated that Turkey’s Rules of Engagement, which had been modified in 2012 when a Turkish fighter jet was shot down by the Syrian army, would apply to Naval forces if there was any disturbance over Cyprus.

     “The Turkish Naval Forces is providing support and close protection to the Barbaros Hayrettin Paşa Research Vessel. On the other hand, it continues to keep the drill ship hired by the Greek Cypriot administration under surveillance from nine kilometers’ distance. The order given to us for the moment is not to enter into this nine-kilometer area. That’s why no incident of harassment or disturbance has occurred,” he added.

In Athens, the Greek government attempted to downplay the comments and left it to be understood that there were made for Turkey's own domestic consumption as a response to the signing of the Cairo Declaration between Greece, Cyprus and Egypt one day earlier.

(It should be reminded that the joint communique that was issued by all three nations on Saturday urged Turkey to respect the sovereignty of the three countries as well as to cease its provocative surveys and similar future activities in Cyprus' EEZ.)

On Monday, President of the Republic Karolos Papoulias would receive Minister of Foreign Affairs Evangelos Venizelos in order to discuss all the recent developments in our foreign policy. Undoubtedly, the recent trilateral summit in Cairo with Egypt and Cyprus will be at the top of the agenda, along with the delineation of Exclusive Economic Zones.

A short while before the meeting, a report on defencenet, citing Pentagon sources, said that Greece also released its own Rules of Engagement (answering Ankara's threats of war). The report said that the focus is now on the southeastern Aegean and especically in the area of Kastelorizo. ​​

     “Greece also has its own Rules of Engagement, approved by the Prime Minister and the Cabinet, not only for the Aegean Sea but also for the South-East Mediterranean in defense of Greek national interests. It would a surprise for us if  Turks had not such rules,” the report on defencenet said.

Between Oct. 20 and Oct. 23, the Russian, Israeli and Greek Cypriot navies conducted a joint naval exercise covering air defense, underwater attacks and anti-submarine operations and developed joint operational procedures. The Russian anti-submarine vessel Kulakov, the flagship of Russia's Mediterranean fleet, and Novorcherkassk, a landing vessel of Russia's Black Sea fleet, participated in these exercises, during which live rockets were fired.

NATO and Turkey were quick to respond. The low-profile "Blue Whale" exercise by a small Turkish naval element and a US logistics ship will be repeated with much larger participation Nov. 6-14.

A report in Al-Monitor claims that Comparing the two exercises, it's notable that while the Russia-Israel-Greek Cypriot joint exercise focused on undersea warfare, NATO’s will focus on surface and underwater reconnaissance, surveillance and anti-submarine warfare. In short, while Russia is trying to develop its military capacity to operate in the eastern Mediterranean without being detected, NATO is working to develop ways to detect Russian moves in advance

Turkish military sources who spoke to Al-Monitor on condition of anonymity drew attention to several important points. They said that military activity in the eastern Mediterranean has increased to dangerous levels since October. It has become almost routine for warships of rival countries to try to force each other to alter their courses in international waters, send low-altitude flights over rival warships, instigate dog fights in the sky and lock weapons-guiding radar onto each other's vessels. All these point to heightened risks of clashes in the region.

To sum it all up, the Syrian crisis, the Israeli-Palestinian problem, the continuing division of Cyprus, disputes between Israel and Lebanon and between Turkey and Greek Cypriots on the exclusive economic zone and disagreements on resource rights in international waters are all heating up the eastern Mediterranean and jeopardizing the security of critical maritime trade routes. Regional rivalries over $1.5 trillion worth of hydrocarbon reserves is gradually militarizing the issue. The global competition between Russia, which wants to preserve its interests in the Mediterranean, and NATO, which wants to avoid a Ukraine-style fait accompli, are intensifying the conflict. States with interest in the area each appear to consider the eastern Mediterranean "their waters" and will try to impose their views through both diplomatic and military moves.

One can only hope that the pilots of rival air forces and the captains of the warships that frequently encounter each other in the eastern Mediterranean will continue to be not only skilled professionals but also astute politicians with honed diplomatic skills.

Combined reports from: enikos.gr, Hurriyet, Al-Monitor, ANA-MPA and ProtoThema.gr

Greece presents its energy policy to US officials

Speaking to US officials late on Monday, at the  Centre of Strategic and International Studies in Washington, Greece's Minister of Energy Yiannis Maniatis said that Greece is a reliable partner of increasingly importance and impact in a turbulent region, where peace, stability and welfare are in danger, The Greek Minister, who is presently in the US following an invitation of his American counterpart Dr Ernest Moniz, presented the US officials with Greece's energy policy. In doing so, he underlined that Greece's "leading role" in Europe's energy security, which is an "issue of priority of the international energy diplomacy", which focuses on three main directions:

• - Greece serves as a reliable partner of increasingly importance and impact in a turbulent region, where peace, stability and welfare are in danger,
• - Greece is developing its endogenous sources, which render it a new potential oil and natural gas supplier in the European market,
• - Greece is becoming a strong energy transit hub (natural gas terminals, gas pipelines and electricity), offering new alternatives for energy supply in Europe

Maniatis, according to a dispatch from the state news agency, put special emphasis on Greece's "new energy role" as a natural gas "gateway" in South Eastern Europe, particularly after the creation of the Greek-Bulgarian corridor and the expansion of respective connections to Romania and Hungary. He also stressed the importance of the East Med pipeline to transport natural gas from the southeastern Mediterranean deposits to European consumers.

After referring to the "recent achievements" of the Greek economy, he presented the Greek research and hydrocarbon exploitation programme in the sea area of the Ionian Sea and south of Crete while analyzing the new opportunities to attract international investments along with the extremely positive outlook in the sector.

Maniatis strongly condemned "Turkey's recent provocative and illegal under international law actions" and reiterated the "clear positions" of the European Council to respect the sovereign rights of the Republic of Cyprus, within its own Exclusive Economic Zone (EEZ).

Regarding developments in the financial sector, he said that 2014 is the year that Greece "is exiting the crisis" and after six years of recession, the Greek economy "returned to growth," adding, among others, that "we achieved a primary budget surplus earlier than expected and above expectations," and that "during the past three years, we have achieved the largest fiscal adjustment also earlier than expected along with major structural reforms."

Greece, he said, is moving steadily in the direction of "developing synergies" between the countries of the Eastern Mediterranean, including Israel, Egypt and Cyprus, aiming at establishing peace, security and regional cooperation.

On Tuesday, Maniatis would meet with US Secretary of Energy Dr Ernest Moniz, the Under Secretary for Economic Growth, Energy, and the Environment Catherine Novelli, and representatives of oil companies as well as with Michelle Patron, US President Barack Obama's special adviser and director on Energy and Climate at the National Security Council (NSC).

On Wednesday, the minister will visit New York where he will speak at a discussion titled: "The Eastern Mediterranean and European Energy Landscape: Trends and Opportunities" at the University of Columbia. In New York, he will also meet with Archbishop Demetrios of America.

Hey Davutoglu Take Your Imperialistic Ideas & Shove Them You Know Where!

By Sener Levent) Cyprus' Politis - How dare they insult us and make fun of us? And yet, none of us comes forth to put them in their place. Everyone swallows and digests whatever they place in his large intestine. This man considers our land as his own domain. As if it is inherited property from his father. “If you so wish, we can discuss the scenario of a two-state solution”, says (Turkish PM) Davutoglu to the Greek Cypriots. Which means, the southern part of Cyprus is yours and the northern part is ours.

He begs them, saying “if indeed you think in such terms, then come to the table, let us sit down and make a deal”. Ahmed Davutoglu said this. The son of Davut, Mr. Ahmed. Where does he come from? From Turkey. He is not a Cypriot. Then, who has given him the right to speak about Cyprus? Cyprus is our homeland, Mr. Ahmed. Ours. The Cypriots. Not yours. You cannot decide about what we will do and not do here. We decide. You mind your own business. Because of you, and the likes of you, Turkey is on the verge of a partition. Go to save her, from now on, if you can. Just think, one telephone call from Obama was sufficient. You made a huge 180 degree turn. As you were heading for the Cape of St. Andreas, you turned at Yialousa and went to Tera. And now you come for a song and dance? Because you were unable to bring Assad to his knees, you are pouring your spleen on Cyprus? Your power was not sufficient to force Assad, and you will force [President of Cyprus] Anastasiades? Please keep this between us, but Anastasiades brought this on himself. For all these slaps that he received from you. He flattered you too much. So he deserves such a response from you.

Look Mr. Ahmed, the last Ottoman Grand Vezier. Pay attention! Do something! Because I believe that not even your own ears listen to what comes out of your mouth! You say that “the sea bed and the exclusive economic zone of Cyprus belong to both her communities”. So, if they belong to the two communities, what is this to you? What has happened to you? What business do you have in these seas? Who gave you the right to speak on our behalf? Mr. Dervis [Eroglu, the president of the puppet regime in occupied Cyprus, an entity recognized by no other country except Turkey, whose unilateral declaration has been condemned by the UNSC 31 years ago]. But Mr. Dervis is your salaried employee here. You pay him! After all, is it not you that has been boasting for so many years that you are footing the bill for our upkeep?

Then, what is all this circus? Since when do you demand and get authorization from one of your salaried employees? Is not the administration here under your authority? Everyone knows that you have been the occupying power for forty years now, in this part of the island, and you are under the impression that we are the only ones who do not know? Do not be fooled by those of us who express their gratitude to you. There is no one who wishes two states in Cyprus, and anything else along this line. The Cypriot people wish a united Cyprus. From Rizokarpaso to Paphos. If this does not happen now, it will happen for sure at some day in the future. There is no possibility that the Cypriots will never come to their senses!

This chauvinism, this craziness will end on some day, for sure.

You say that the exclusive economic zone belongs to both communities, but you do not seem to comprehend it yourself. The Greek Cypriots never said that it belongs only to them. Yet, even if there is no solution to the Cyprus problem, thanks to you, and you have postponed the return of Varoshia [the city of Famagusta outside the medieval walls, whose return to its rightful inhabitants Turkey was asked to allow, but has not, since the pertinent UNSC resolution of 1977], do not think that they will let us smell any of the benefits of the solution to the problem, before the actual solution takes place. Hands off Cyprus!

And you can take your two states, and you know where you can stick them! (Πάρε τα δύο σου κράτη και βάλε τα εκεί που ξέρεις!)

Sener Levent is the editor of the Turkish-Cypriot newspaper Afrika. He has been repeatedly threatened and heavily fined by the Turkish puppet regime of occupied Cyprus. His long-time colleague Kutlu Adali was murdered in 1996 in occupied Cyprus. His murder remains a mystery, though it was well known then that he had been threatened several times by the occupation authorities and their roughnecks. Turkey has been condemned by the European Court of Human Rights for the handling of the murder investigation of Adali, and damages were awarded to his widow. Recently, Levent has claimed, in the same column of Politis, that Adali had actually uncovered evidence that special forces from Turkey had come to Cyprus in 1995, right before the inquiry into the missing Cypriots who were American citizens by the late Richard Holbrook, and excavated mass graves near the St. Barnabas Monastery, and then dumped all the bones of the dead into the sea, so that they could never be found!

First published in Greek, in the Greek Cypriot newspaper Politis, on the 23rd of October, 2014 –
http://www.politis-news.com/
First appeared in English on Mignatiou.com
http://mignatiou.com/2014/10/ahmed-take-them-and-you-know-where-you-can-stick-them/

Putin Says Any Violation of Cyprus' Sovereignty is Unacceptable!

During a meeting with Cyprus President Nicos Anastasiades on the sidelines of the ASEM meeting in Milan on Thursday night, Russian President Vladimir Putin said that any violation of the sovereignty of Cyprus is unacceptable.

According to a statement from Cypriot government spokesman Nicos Christodoulides, the two presidents had an “extensive discussion in a friendly and cordial atmosphere” at a dinner that was hosted late on Thursday night by the President of the Italian Republic for delegates participating in the Asia – Europe Summit.

According to the Cypriot government spokesman, talks centred mostly on the bilateral relations between Cyprus and Russia, EU-Russia relations as well as the current phase of the Cyprus problem with emphasis on the latest developments (as these were shaped as a result of the Turkish NAVTEX with regard to the Exclusive Economic Zone (EEZ) of the Republic of Cyprus.)

     "Putin reiterated Russia’s principled position both as regards the solution of the Cyprus problem and the inalienable right of the Republic to take advantage and exploit its natural resources within the EEZ,” noted Christodoulides. 

He also said that both Presidents agreed to hold another meeting in the near future (depending on the developments that may or may not unfold).

Edison in Milan & Greek Officials Talk Hydrocarbon Exploration

Greece's Minister of Environment, Energy and Climate Change, Yiannis Maniatis held a meeting with the management of the Italian energy firm Edison in Milan at the weekend, with the aim of receiving the latter's pledge to participate in hydrocarbon exploration. It was also a great opportunity to present the firm with investment opportunities in electricity and use new infrastructure in natural gas.

While in Italy, Maniatis would also attend the EU energy ministers' council.

The Edison group currently has a significant presence in Greece via Elpedison, which is participating in a consortium with Hellenic Petroleum and Ellaktor and recently obtained a licence to prospect for hydrocarbons in the western Patras Gulf with Hellenic Petroleum and Petroceltic.

Edison CEO Bruno Lescoeur said that he had confirmed in talks with Maniatis the company's commitment to hydrocarbon exploration in Greece, in addition to its existing presence in the electricity market, announcing Edison's participation in a new bid round for exploration concessions and for the IGI and IGB natural gas pipelines being build with the Public Gas Corporation (DEPA).

     "This infrastructure will offer Italy, Greece and the Balkans significant access to the new major reserves of the Eastern Mediterranean. We believe this is a strategic opportunity for all the countries involved and, of course, an opportunity to make the opening of the Southern Corridor faster and more competitive," he added.

The state news agency quoted the Greek Minister as saying that the meeting gave him the opportunity to see the progress in implementing various important initiatives and confirm the Greek government's support for investment plan that Edison is carrying out through established partnerships with large Greek companies.

     "Especially, I underlined to Edison's management the great importance that our government places on the gradual opening of the electricity market and the development of hydrocarbon fields in Greece and the Eastern Mediterranean for the benefit of Greece, the Balkan peninsula and the Italian market," he said.

The minister repeated the Greek government's full commitment to a rapid implementation of the IGB and IGI pipelines.

     "In parallel to promoting development of the East-Med pipeline, IGB is a basic, strategic choice for the Balkans, while IGI Poseidon will secure the export to Italy of new quantities of natural gas from Greece and the Mediterranean, in the framework of free and fully competitive development of new natgas routes," he said. 

Greece Ready To Launch Hydrocarbon Exploration Tenders In Oct.

Greek authorities are expected to launch a tender on hydrocarbon research in the Ionian Sea and southern Crete sea sometime this month, with the signing of contracts scheduled to be held in October 2015.

Presenting the timetable of the tender, the legal advisor and director of Environment, Energy and Climate Change minister's office, Alexandra Sdoukou, announced that Greece is going to offer 20 sea blocks for research and exploitation of hydrocarbon fields and noted that research so far showed there were encouraging signs of hydrocarbon fields which were accompanied by a transparent and competitive regulatory framework, low taxation (25 pct) and the Greece's strategic position "a safe harbor in a turbulent region".

In other related news, the Ministry of Environment, Energy and Climate Change presented the biggest energy projects currently underway in Greece and revealed that energy groups were showing great interest in the hydrocarbon tender. It was also noted that a final investment decision on a Greek-Bulgarian natural gas pipeline (IGB) -supported by Greek and Bulgarian governments- will be reached by the end of 2014, while the possibility of seeking shale gas or shale oil fields in Greece was excluded.

Energean is set to participate in a forthcoming tender for hydrocarbon research in the areas of Arta-Preveza, Aetoloakarnania and Southwest Peloponese. Energean has already signed similar contracts for hydrocarbon research in Ioannina and Katakolo which have been ratified by Greek Parliament.

Balkan & Adriatic Summit On Oil & Gas Opens in Athens

The third edition of the "Balkans and the Adriatic Oil & Gas Summit" began on Wednesday in Athens and expects to provide all those interested with an overview of the fiscal and legal framework of the exploration and production of hydrocarbons, along with updates on current or future energy projects in the area.

The Summit that is expected to wrap up on from October 3rd, is expected to offer a unique networking platform where delegates from different ministries are going to come together in order to discuss the changes in legislation and will serve as a platform from where experts can come to showcase how their operations work in the Balkan region.

Addressing the summit, Greece's Minister of Environment Yiannis Maniatis pointed out the need for regional cooperation in the sector of exploration, while he also noted that positive news in one country can bring benefits to all the countries in the region. Maniatis also stressed that prospects in the region are from encouraging to extremely positive, as well as attract the interest of small and big oil companies.

Greek Parliament Ratifies Hydrocarbon Deals

The Hellenic Parliament recently ratified the first three concessions, granting rights for hydrocarbon exploration and extraction in offshore locations in western Greece. Specifically, this involves the area in Katakolo, Ioannina and the Patras Gulf.

During the parliamentary session, Greek MPs also ratified a fourth contract that modified the existing hydrocarbon exploitation contract in the Thracian Sea, (Northeast of Greece).

Environment, Energy and Climate Change Minister Yiannis Maniatis, who was quoted by Greek press reports as saying that the ratification of these first three concessions were "historic," also sought to address fears concerning environmental safety issues. He noted that a team of experts had been working on a new, stricter European legal framework for offshore drilling platforms, and announced that Greece is going to be the first country to adopt these stricter standards which will obviously be established by EU directives.