Thursday, 6 August 2015

European Council approves regulation amending the European Financial Stabilisation Mechanism (EFSM) - to protect non-euro area member states from any risk arising from financial assistance given to a euro area country.



"On 4 August 2015, the Council approved a regulation amending the European Financial Stabilisation Mechanism (EFSM) in order to protect non-euro area member states from any risk arising from financial assistance given to a euro area country. 

This principle was endorsed on 17 July 2015 by a joint statement of the Commission and the Council. It was agreed along with a decision to grant €7.16bn in short term financial assistance to Greece under the EFSM. Specifically, the regulation ensures that financial assistance from the EFSM to a euro area member state will only be granted if legally binding provisions are in place guaranteeing that non-euro area member states are immediately and fully compensated for any liability they may incur as a result of a failure by the beneficiary to repay the financial assistance in accordance with its terms. The regulation was adopted by written procedure".

EFSM

"The EFSM provides financial assistance to EU member states in financial difficulties. It relies on funds raised by the Commission on the financial markets under an implicit EU budget guarantee".

Joint declaration by the Commission and the Council on the use of the EFSM

http://www.consilium.europa.eu/en/press/press-releases/2015/08/04-efsm-revised-shield-non-euro-area-countries-from-risk/



The Cyclades, J. Theodore Bent (1885); Andros and the other Cycladic Islands



Pdf file available here

For Andros, see Chapter 12, beginning page 269

For Mirologia, see Chapter 10, "The Death-Wails of Mykonos", pages 209-224.



Wednesday, 5 August 2015

An Incident at Corfu Airport



I hate all airports. The long queues to drop off luggage at Gatwick can be hell at the end of July and in August, and Corfu airport is no better at the height of the tourist season.

Whether or not you've enjoyed a good holiday, any positive feelings are easily negated when queuing at the check-in area or trying to find a seat in the departure lounge.

The worst things about the overcrowded lounge on 29th July were the announcements. The PA system and amplifier were turned up as loud as they could be, and a shrill, distorted female voice was shattering everybody's nerves every few minutes, with strident announcements about flights and departure gates, in heavily-accented English.

I queued to get a cold drink at the airport snack-bar. "Next!" The young Greek man behind the counter was clearly suffering more than anyone else from the excessive noise pollution. He looked aggressive, and I could see from his expression that his nerves were completely frayed. I must have looked sympathetic.

I spoke to him in Greek, ordering two bottles of water and a cold beer, with a complicit, long-suffering smile.

"I've had that damned voice in my ears all day long, every five minutes", he complained.

"Couldn't you ask them to turn down the volume?"" I suggested.

"I'd like to cut her damned neck off", he said in blunt demotic Greek, indicating the cutting action with his hand, challenging me to agree.

I laughed. The voice was diabolical.

"How much is that?" I asked.

"Kernao ego - I'm treating you".

"No, why? Please let me pay".

"No. It's on me. You seem a good type!"


A flash of humour and humanity, even when people are at the end of their tether.

******

PS-  I know that the faulty PA system was not the fault of the equally-stressed and exhausted announcer.



Corfu: The Art of Warren Curry



An Australian artist on Corfu

Corfu Traditional

Corfu Figurative

Prints for purchase