Category Archives: Greece

Greek tanker sinks with captain on board

A Greek tanker carrying more than 2,000 tonnes of oil has sunk off the port of Piraeus, with its captain on board.

Coastguards said divers retrieved the body of the Alpha 1’s captain, while its 10 other crew members were rescued.

Officials said no oil had so far been spotted leaking from the ship, which they believe may have hit a wreck in the shallow bay of Eleusina, not far from the capital, Athens.

It was carrying 1,800 tonnes of fuel oil and nearly 240 tonnes of diesel.

The coastguard said the re-fuelling vessel ran into problems at about 10:30 local time (08:30 GMT).

“The 48-year-old Greek captain was just found dead,” said a coastguard official.

A plastic barrier has been placed round the ship to contain any oil spills.

Armed Robbers Loot Olympia Museum in greece

US backs new IMF loan to Greece as details of bailout emerge

Timothy F. Geithner, Under Secretary of the Tr...

WASHINGTON – US Treasury Secretary Timothy Geithner has thrown Washington’s support behind the new austerity measures agreed by Greece and said the US backed the idea of a new IMF loan for Athens.

“We welcome the program of economic reforms agreed to by the prime minister of Greece and the coalition parties, and the public statement of support from the major economies of Europe,” Geithner said in a statement Sunday.

“This is a very strong and very difficult package of reforms, deserving of support of the international community and the IMF. The United States will encourage the IMF to support this agreement.”

The Greek parliament has approved a series of measures worth 3.2 billion euros in return for a second bailout deal that would write off 100 billion euros of debt and provide a loan of 130 billion euros to Greece.

Eurozone finance ministers are due to finalize the deal in Brussels on Monday in a bid to try to save Greece — which has already been granted a 110-billion-euro rescue package — from bankruptcy.

The International Monetary Fund, which in May 2010 gave Greece a 30-billion-euro loan as part of the first bailout, has remained silent in recent months on the idea of a new loan.

Its member states are divided on whether to continue financing a country that has not respected its financial commitments. The United States is the largest shareholder in the Fund and has enough votes to block any decision.