OCV
ΓΡΑΦΕΙ ΤΗΝ ΙΣΤΟΡΙΑ
ΤΟΥ ΕΛΛΗΝΙΣΜΟΥ
ΑΠΟ ΤΟ 1915
The National Herald
cv
A weeKly GReeK AmeRIcAN PublIcATION
How Konstantinos
Antonopoulos Eases
Human Suffering
TNH Staff Writer
NEW YORK - Having covered
the police beat for years, I come
across many tragic events that
have left their mark on the
Greek American Community in
the New York tri-state area. At
the same time, I had the opportunity to get acquainted with
many Greek Americans who offer solace to those in need and
try to ease their pain as much as
possible. Some of them are in
the front lines, while other make
sacrifices and give what they can
to provide some moral and psychological support. Over the past
five years, while covered stories
involving fatal accidents suffered
by students from Greece and
Cyprus, or other tragic deaths in
the Community, The National
Herald observed that representatives throughout the Greek
American Community would ask
Konstantinos Antonopoulos
the Antonopoulos Funeral Home
in Astoria to handle the funeral
arrangement for the victims, and
they would always express their
gratitude for the generosity displayed by the funeral home’s
owner/director Konstantinos
Antonopoulos, and his brother
and
co-director
Thomas
Antonopoulos. Although we
would try to find out the amount
of money they contributed in
each of the cases, we never succeeded, primarily because the
Antonopoulos brothers preferred
to stay out of the spotlight. They
have religiously upheld – and
continue to do so – the virtues
and principles of the Greek people, as well as the principles of
their profession. The complete
respect they display towards the
deceased and the bereaved families, their respect for privacy,
their honorableness, prudence,
compassion, solidarity, simplicity, and abundant humility
makes them stand out.
Konstantinos and Thomas
Antonopoulos were and continue to be good friends with my
colleagues and me, but even in
instances when we knew that
they had first-hand knowledge
of the causes behind so many
tragic deaths that The National
Herald has covered, they never
succumbed to the temptation to
reveal anything they knew from
the official documents that they
would receive from the coroner,
or from the details that the
friends and family of the deceased would divulge to them.
Although their discretion did not
help in the difficult job that a
reporter undertakes to seek the
truth, each time that they refused to give details on a particular incident, our staff’s respect
and appreciation for their dedication to their profession would
grow. “The job of a funeral director is a sacred one; just as saContinued on page 4
Angelides Probe Found
Money Never Sleeps on
Wall Street's Home Turf
By Constantine S. Sirigos
TNH Staff Writer
NEW YORK – It took 19 days of
hearings and wound up with
millions of pages of documentation, but the government-appointed Financial Crisis Inquiry
Commission, under Chairman
Science Series
Dr. George
Bakris, A
Real Healer
By Amalia Deligiannis
Special to The National Herald
In a typical week, you will
find Dr. George Bakris designing
clinical studies, treating patients, serving on a number of
editorial boards of medical journals, and giving lectures as a
Professor of Medicine and Director of the Hypertensive Diseases Unit in the Department of
Medicine at the University of
Chicago Pritzker School of Medicine. So how does the doctor
balance this workload? “Well it’s
tough,” he admitted. “It could
not be done in all honesty if I
didn’t have the cooperation and
help of the university and for
that matter of my wife.” Because
of his work in the field of hypertension and kidney disease,
Bakris has been nominated for
and has received many awards
from professional societies such
as the National Kidney Foundation and the American Society
Continued on page 5
For subscription:
718.784.5255
[email protected]
www.thenationalherald.com
February 5-11, 2011
VOL. 14, ISSUE 695
By Demetris Tsakas
Bringing the news
to generations of
Greek Americans
Phil Angelides, a former California State Treasurer – came to
the unsurprising conclusion that
the country’s near fiscal meltdown was avoidable and everyone who was supposed to prevent it, from government
officials to regulators to banks
and insurance companies, was
asleep at the wheel or manipulated the system out of pure
greed. The media has had a
mixed reaction to the 600-page
report, which is available at
bookstores everywhere for $14.
Some reporters noted Congress
has already reacted to the crisis
through the Dodd-Frank law,
while others said its work was
nonetheless valuable in helping
shape reforms and to identify
what went wrong with American’s financial system beginning
in 2008. Angelides and his fellow commissioner Byron Georgiou recently discussed their
work with the National Herald.
Despite the strenuous efforts
and associated sleep deprivation
of a year and a half, their passion and sense of urgency have
not diminished.
“From the crash two years
ago, almost nothing’s changed
on Wall Street. We have yet to
see whether the regulators have
the backbone to stand up in a
way they didn’t in this last crisis.
Our work hopefully will lay out
the history and be a guidepost
to change course,” said Angelides, who added: “This was
a disaster for the country. This
was not just a bump in the road
Continued on page 3
The Ships of Greece
Still Rule the Seas
Worldwide
The National Herald continues its presentation of a
series of stories marking
some of the many success
stories of Greek shipping:
tycoons and young giants,
captains and kings of the
industry. See pages 8-9.
$1.50
Egypt’s Days of Rage Could Tip Greece’s Role
Israel, Turkey in the
Mix, Papandreou
Makes Calls
By Andy Dabilis
TNH Staff Writer
ship, which was crucial to defeating the Persians in the Battle
of Salamis in 480 B.C., part of a
wider war that included the
fight at Thermopylae dramatized in the film 300. But a
wreck of a trireme - a nimble
vessel tipped with a bronze battering ram—has never been
found. Classicists have had to
piece together clues about its
design from vase images, carved
reliefs and bad jokes in ancient
plays, generating competing
theories about its size, structure
ATHENS - Even as Egyptians
engaged in pitched battles in the
streets of Cairo, government
supporters who want President
Hosni Mubarak not to quit
clashing with demonstrators
who wanted him out, the developments were being keenly
watched in Greece because it
could tip the balance of power
in the Mideast and give Turkey
even a bigger foot in the region
and diminish Athen’s standing,
and affect relations with Israel,
analysts said. Greek Prime Minister George Papandreou held
phone discussions about the crisis with several senior leaders
in the Middle East, including the
embattled Mubarak, who had
resisted calls from the United
States to step down and have
an orderly transition of power,
which was shattered when his
opponents charged his government sent thousands of thugs
onto the streets to attack them,
in defiance of wishes from Western leaders there not be violence. At least five Mubarak opponents were killed by gunfire
which the government said was
“a mistake” and said it would
find out who was behind it.
Mubarak said he would not seek
re-election after 30 years in
power, the result, critics said, of
a series of fixed elections over
the years, but said he would not
resign, infuriating Egyptians
who, following the lead of
demonstrators who brought
down the Tunisians government, said they wanted an end
to decades of repression. That
led the United States to walk a
fine line because it has always
supported him because he kept
a lid on the Muslim Brotherhood
and Muslim extremists.
Papandreou also spoke with
Continued on page 3
Continued on page 11
AP/THANASSIS STAvRAKIS
Tourist Sheryl Horowitz, right, hugs tour director Nancy Davis, both from the U.S., after their arrival from Egypt at Athens International Airport Eleftherios Venizelos in Spata, near Athens, Monday, Jan. 31, 2011. A tourist group with 65 Americans arrived in Athens as hundreds of foreigners
were being evacuated from the unrest in Egypt, with countries scrambling to send planes to fly
their citizens out and Cairo's short-staffed international airport a scene of chaos and confusion.
Fans Struggle to Revive the Triremes
By Sophia Hollander
Wall Street Journal
NEW YORK - On a recent morning, Ford Weiskittel listened to
typical board-meeting chatter
for a nonprofit group: an upcoming fund-raiser, the possibility of attracting celebrities, the
benefits of one honoree versus
two. But there was something
he really wanted to know: Was
asking prominent citizens to water-ski behind a replica of an ancient warship being rowed
down the Hudson River one
publicity stunt too far? A group
of New Yorkers wants to bring
the Olympias, the world’s only
working replica of a trireme, to
the city in 2012. “Dressed in armor,” suggested board member
Charles Hirschler. “Holding a
sword.” “Let’s not get carried
away,” said Mr. Weiskittel, a former classics professor at Hobart
and William Smith Colleges.
The men are part of a group trying to bring to New York a fullscale, working replica of the ancient Athenian warship known
as the trireme.
For centuries, scholars have
squabbled over the design of the
They speak English, but Think Greek at St. Gregory’s
By Theodore Kalmoukos
TNH Staff Writer
BOSTON – It’s a curious combination. Father Michael Bird of
the St. Gregory The Theologian
Church in Mansfield, Massachusetts, located at the crossroads
of the superhighways Routes
495 and 95, is a convert to
Greek Orthodoxy, starting with
chanting and then learning to
speak the language fluently
enough to become a priest, and
more so than most of the members of his church, established
to serve primarily Englishspeaking Greek Americans and
Orthodox from other ethnic
backgrounds and the spouses of
inter-faith marriages. Still, they
come, and frequently chant
themselves, sometimes even in
Greek. St. Gregory is a “singing
church” - the responses and
hymns are sung by the congregation, not a formal choir.
“Thus, our parishioners experience the ancient practice of Orthodox worship by which the
clergy and laity together particContinued on page 7
TNH
Fr. Michael Bird, a licensed architect who discovered the beauty and treasure of Orthodoxy
and Hellenism at St. Gregory’s Church in Mansfield, Mass. with his presbytera.
The Troika Looks at New Greek Rescue Scheme
ATHENS – Even as officials
from The Troika – the European
Union (EU,) European Central
Bank (ECB,) and International
Monetary Fund (IMF) were here
inspecting Greece’s books again
to see whether to release the
next round of loans in March as
part of a $150 billion three-year
bailout plan, they were reportedly working on a solution to
reduce the country’s staggering
$360 billion debt, which threatens to overwhelm any attempts
to stave off bankruptcy. The
Troika is considering a proposed
debt-reduction solution along
the lines of the Brady plan,
named for then U.S. Treasury
Secretary Nicholas Brady, which
rescued Latin America from
bankruptcy in the 1980’s, the
Greek newspaper To Vima reported. Greece has effectively
been forced out of the borrowing markets because of fears it
can’t pay back loans, and has
had to pay exorbitant rates to
banks and investors. Brady
AP/KOSTAS TSIRONIS
An Athens metro worker
opens the locked entrance of
a station for a colleague during a public transport strike
on Feb. 1, 2011, but riders
were out of luck.
bonds were created in March
1989 in order to convert bonds
issued by mostly Latin American
countries into a variety or
“menu” of new bonds after
many of those countries defaulted on their debt in the
1980s. Brady bonds are dollardenominated bonds, issued
mostly by Latin American countries in the 1980s, named after
Brady. The key innovation behind the introduction of Brady
Bonds was to allow the commercial banks to exchange their
claims on developing countries
into tradable instruments, allowing them to get the debt off
their balance sheets. This reduced the concentration risk to
these banks. Under the threestage plan, Greece would borrow from the other 16 countries
of the Eurozone using the euro
as their currency, to buy back
Greek bonds currently owned
by the ECB and private bondholders at about 75% of their
nominal value, the newspaper
reported, citing a senior banker
with knowledge of the talks.
The EU and IMF would then ex-
tend the maturity of their
bailout loans to Greece to 30
years, instead of the current
three years, which Greek Prime
Minister George Papandreou
said was not a restructuring.
Private lenders owning more
than 100 billion euros ($138 billion) of Greek bonds would be
invited to extend their maturity
to between 15 and 20 years, To
Vima said. All these measures
would result into the “re-profiling” of about two thirds of
Greece’s total debt by the end of
2011, the newspaper reported.
Greece’s public debt is projected
to peak at 158% of Gross Domestic Product (GDP)in 2013, a
level which many in financial
markets say is unsustainable, and
that is currently the deadline to
repay the loans even though
harsh austerity measures such as
deep pay cuts for public workers
has backfired with less-than-expected revenues, despite big tax
Continued on page 11
COMMUNITY
2
THE NATIONAL HERALD, FEBRUARY 5-11, 2011
GOINGS ON...
TNH/cOSTAS beJ
TNH/cOSTAS beJ
Marking Greek Letters with their Feet
Argonauts Host Annual Holocaust Remembrance
The Metropolis of N.J. celebrated Greek Letters at St. Lukes
Church in Broomall, PA. Children and teachers from numerous
churches participated in the cultural feast. Above, the dance
troupe of St. Anthony of Vineland, N.J. has its star turn.
The Holocaust Remembrance of the Argonauts was held on
Jan, 23. A. Zoupaniotis is at the podium. On the dais R-L: A.J.
Matathias, D. Savelidis, Archbishop Demetrios, Rabbi Bruce
Ginsburg, E. Tsekeridis, E. Kyriakopoulos, Koula Sophianou.
In the Spotlight: Stella Livanios Catechis
By Constantine S. Sirigos
TNH Staff Writer
NEW YORK - Stella Livanios Catechis is one of those people
whose biography includes items
very familiar to most Greek
American women, in addition to
experiences relatively few members of the community have
known. She is a wife, a mother,
and businesswoman, the daughter of Greek immigrants who
started their journey in Canada
seeking a better life after wartorn Greece could not fulfill their
dreams. She was born and raised
in Montreal but her family moved
to Florida when she was a
teenager. That’s familiar enough,
and then she was graduated from
The American University in
Washington, D.C. with a B.A. in
Political Science and later earned
a M.A. in Public Policy and Public
Administration from Concordia
University in Montreal. After
earning her Master’s degree, she
taught political science at a community college in Florida. Stella
then moved to Washington, D.C.
where she worked on Capitol Hill
for more than a decade, eventually achieving the rank of Legislative Director working for
members of the U.S. House of
Representatives. She is now a
partner in Stellar Importing Company, LLC, a firm that she co-
Stella Livanios Catechis and her husband Sam, with their child.
founded with her husband, Sam
Catechis.
TNH: You are the co-founder
of Stellar Importing Company.
Was the company named after
you?
SLC: Partly. The company was
founded on the belief that Greece
has stellar wines; hence, the company name, and that we had the
expertise to promote the wines
at a national level. We specialize
in the importation and wholesale
distribution of wines and spirits
from Greece. The company is
based here in Whitestone, New
York. Today, we are in 46 states
and growing. I handle the licensing, compliance, customs, and
other administrative duties of the
company. My husband handles
sales, marketing, and business
development. The work has
been interesting as we import
from different wine regions of
Greece
from
Cephalonia,
Naoussa, Santorini, Crete, and of
course, the Peloponnese. Working in the import business has
been interesting and challenging
with frequent strikes in Greece
and the fluctuating exchange rate
of the USD/Euro and its impact
on Greek wine in the U.S. marketplace. What has been satisfying is the ability to promote wonderful wines and to witness
first-hand how a small winery
can grow in leaps and bounds
from the recognition of their
wines in the U.S.
TNH: Has your life path been
influenced influenced by your
Ancient and Modern Greek and
Orthodox heritage?
SLC: Most definitely. Being
raised in a Greek family one cannot help but be influenced by
one’s heritage. My father was an
Athenian, and my mother is Spartan. You can only imagine the
teasing that went on between the
two regarding the Athenians and
the Spartans. On a serious note,
my heritage has taught me the
value of family, education, hard
work, community and faith. It
was my father who influenced
me the most in going into public
service. Politics, history, and the
ancient Greek philosophers were
always discussed at the dinner
table. Still, I want to say that my
Greek heritage does not define
me. It has only shaped me for
who I am. I am the quintessential
Greek American girl, a cross of
two cultures.
TNH: What has been your
greatest achievement so far?
SLC: Becoming a mother has
been the best thing that I have
ever done in my life. On a professional level, I was privileged
and honored to serve as U.S.
Congressman Harry Johnston’s
legislative assistant and budget
associate at the time of Clinton’s
presidency. It was at that time
when the Democrats on the
House Budget Committee stood
unified to cut the federal budget
by $500 billion. The challenges
were great. I assisted Congressman Johnston in his role on the
Committee to ascertain the necessary cuts in spending programs
and to ensure the proposed complementary tax changes were
adopted by the House Ways and
Means Committee, which is responsible for tax policy and entitlements. To be a participant in
the legislative process and to witness first-hand how these
changes fostered economic
growth and balanced budgets
was very gratifying to say the
least. At the end of the day, I hope
that whatever role I have played
in society would make my parents proud for they have sacrificed so much in the xenitia, to
have a better life for themselves
and their children.
TNH: What’s the greatest lesson you’ve ever learned?
SLC: I have learned many
lessons in my life. The most important was that life has many
ups and downs, but one must
stay true to oneself, learn from
life’s lessons, and look to the future.
TNH: Do you have a role
model?
SLC: Most definitely. It is my
mother. I admire her strength,
wisdom, quick wit and how she
lives her life with dignity and
grace.
TNH: What’s your ultimate
goal in life?
SLC: My ultimate goal is to
be the best mother I can be. Professionally, I would like to re-enter public service and to teach.
While the import business has
been interesting, I feel the need
to give back to my community.
TNH: If you could change
something about yourself, what
would it be?
SLC: Where do I begin! One
thing that I would like to change
is how often I reach out to my
friends and family. Like many
working mothers, I am juggling
many responsibilities and obligations and have lost contact with
so many wonderful people who I
have met in my life.
n FEBRUARY 3-13
NEW YORK CITY, NY - The
world-premiere of a new version
of Lysistrata, Aristophones' comedy about sexual politics and the
mechanics of war, will come to
life through the eyes of puppeteer
and director Theodora Skipitares
at LaMaMa from February 3-13.
The production will incorporate
video news coverage of modern
day, international sex strikes with
Aristophanes' text. Antonevia
Ocho Coltes will star in the title
role with Daniel Irizzary as the
Magistrate and Cinesias and
Minna Taylor as Myrrhine. Skipitares will adapt and direct the
work, which applies a variety of
theatrical and multi-media twists
to the 2500-year-old tale of Lysistrata and her fellow Greek
women's ploy to convince the
men of ancient Greece to find a
peaceful end to war by withholding sexual privileges. Tickets are
available by calling: (212) 4757710 or by visiting LaMaMa.
LaMaMa e.t.c. is located at: 74A
East 4th Street in Manhattan.
n FEBRUARY 5
EDISON, NJ – The White Mountains Cretan Fraternity is hosting
their Annual Dinner Dance on
February 5 at 7:00 p.m. at Pines
Manor. There will be a variety
of mouth-watering Greek foods
served and Cretan music and Laiika will be provided by George
Boyiatzhs and Xristos Zabolas.
Donations: $80 and $40 for children up to 11-years-old. For further information and to make
reservations, contact: Soula Kantilierakis at (732) 819-0563;
Irene Kanterakis at (732) 2978321; or Takis Psarakis at (908)
256-6813. Pines Manor is located
at: 2085 Route 27, Edison, NJ
08817.
n FEBRUARY 12
HOLMDEL, NJ – The nationally
famous Hellenic Dancers of New
Jersey present the 2011 Taverna
Night Dinner Dance on Saturday,
February 12, 2011, at the Cultural Community Center of Kimisis Tis Theotokou Greek Orthodox Church at 6:30 P.M.
Attendees will enjoy a full Greek
dinner buffet, Greek and popular
music provided by DJ Pegasus,
and a special performance by the
Hellenic Dancers of New Jersey.
All proceeds from the event will
support HDNJ in preserving the
folk dance customs of Greece,
and perpetuating Greek heritage
in America. Funding from the
event will also support the dance
troupe’s 2011 touring schedule.
This public event is funded in
part by the Hellenic Dancers of
New Jersey, Inc., New Jersey
State Council on the Arts - Department of State, a Partner
Agency of the National Endowment for the Arts, the New Jersey
Cultural Trust and the Coby
Foundation, Ltd. The special performance for the 2011 Taverna
Night Dinner Dance is an assortment of dances from all over
Greece including Crete, Thrace,
Epiros, Kerkyra and Rhodes, as
well as its diaspora, Cyprus, Pontos and Cappadocia. Advance
reservations for this event are:
$35 for adults; $25 for students
aged 13 – 23; and $15 for children 12 and under. For reservations, contact: Cheryl Bontales,
(732)
796-1006
or
at:
[email protected]. Tickets the day
of the event are $5 more respectively. All donations are tax deductible as HDNJ is a 501 (c) 3
non-profit organization. Kimisis
tis Theotokou is located at: 20
Hillcrest Road in Holmdel, NJ.
n FEBRUARY 19-20
NASSAU, Bahamas – The Greek
Orthodox Church in Nassau is
hosting their annual Greek Festival on February 19-20. Enjoy a
variety of mouth-watering traditional Greek foods, Greek beer
and an assortment of delicious
Greek pastries. There will be an
ouzeri and kafenio on Church
grounds, as well as, cooking
demonstrations. There will also
be a live bouzouki band and traditional Greek dancing. Entrance
fees are: $3 for adults and $1 for
children. Festival hours are: February 19 at 11:00 a.m. and February 20 from 12:00 p.m.-10:00
p.m. The festival will be located
at the Greek Orthodox Church
Grounds on West Street, Nassau,
Bahamas.
n FEBRUARY 21
NEW YORK, N.Y. - The AHI Busi-
ness Network and The New York
Chapter of AHI hosts its Monthly
Informal Networking Reception,
Monday, February 21, 5:30 to
7:30 PM at Avra Restaurant, 141
East 48th Street. Complimentary
hors d'oeuvres, cash bar. Please
RSVP by February 19 to Col. Andonios
Neroulias
at
[email protected]. For more info
on AHI activities and membership visit www.ahiworld.org.
n FEBRUARY 25
NEW YORK, N.Y. – The American
Hellenic Institute, in cooperation
with the Cyprus Federation of
America, is hosting a viewing of
the documentary, “Cyprus Still
Divided: A U.S. Foreign Policy
Failure,” on February 25 at New
York University. The viewing will
begin at 6:00 p.m. and will be
followed by a panel discussion at
7:00 p.m. lead by John Metaxas,
Anchor/Reporter for WCBS TV
and WCBS Radio. Featured
speakers also include, Nick Larigakis, AHI President and COO;
Dr. John Brademas, former US
Representative and President
Emeritus of NYU; Nicholas
Karambelas, founding partner of
Sfikas & Karambelas; and Eugene
T. Rossides, Assistant Secretary
to the United States Treasury. A
reception will follow at 7:45 p.m.
For additional information, contact: AHI at (202) 785-8430 or
via email at: [email protected].
n ΜΑRCH 4-6
CAMPELL, Ohio – Archangel
Michael Greek Orthodox Church
is hosting their annual Greek Festival from March 4-6. Enjoy the
best traditional Greek foods ranging from authentic gyros and souvlakia to lamb on the spit. There
will be traditional Greek music
and performances by Greek folk
dancers. For further entertainment, there will also be auctions,
games for the kids, art, religious
items, jewelry and CD’s. Admission is free. Festival hours are:
March 4th, 3:00-10:00 p.m. and
March 5th and March 6th, 12:00
p.m.-10:00 p.m. For further information, call the Church office
at: (330) 755-3596 or the community center at: (330) 7559072. Archangel Michael Greek
Orthodox Church is located at:
401 12th Street (between Porter
and Blossom), Campbell, Ohio
44405.
CAMPELL, Ohio – Archangel
Michael Greek Orthodox Church
is hosting their annual Greek Festival from March 4-6. Enjoy the
best traditional Greek foods ranging from authentic gyros and souvlakia to lamb on the spit. There
will be traditional Greek music
and performances by Greek folk
dancers. For further entertainment, there will also be auctions,
games for the kids, art, religious
items, jewelry and CD’s. Admission is free. Festival hours are:
March 4th, 3:00-10:00 p.m. and
March 5th and March 6th, 12:00
p.m.-10:00 p.m. For further information, call the Church office
at: (330) 755-3596 or the community center at: (330) 7559072. Archangel Michael Greek
Orthodox Church is located at:
401 12th Street (between Porter
and Blossom), Campbell, Ohio
44405.
n MARCH 7
NEW YORK, N.Y. – The Board of
Overseers of The Gennadius Library of the American School of
Classical Studies at Athens is
hosting their eleventh annual
Clean Monday (Kathara Deutera)
celebration on March 7 at 6:30
p.m. at Molyvos. Honorary Patrons are Ambassador of Greece
to the United States, Mr. Vassilis
Kaskarelis and Mrs. Anna
Kaskarelis. Unique Lenten cuisine will be prepared by Chef Jim
Botsacos and music will be performed by Grigoris Maninakis
and the Mikrokosmos Ensemble.
Molyvos Restaurant is located at:
871 Seventh Avenue, New York
City. To RSVP, call: (609) 6830800 ext.14
n NOTE TO OUR READERS
This calendar of events section is
a complimentary service to the
Greek American community. All
parishes, organizations and institutions are encouraged to e-mail
their information regarding the
event 3-4 weeks ahead of time,
and no later than Monday of the
week before the event, to [email protected]
om
QUESTION OF THE WEEK
Vote on our website!
You have the chance to express your opinion on our website
on an important question in the news. The results will be published in our printed edition next week along with the question
for that week.
The question this week is: Do you think the strikes in Greece
will work?
o Yes
o No
o Maybe
The results for last week’s question: Should Greece sell
some of its islands to help raise money?
89% voted "Yes"
9% voted "No"
3% voted "Maybe"
Please vote at: www.thenationalherald.com
[email protected]
COMMUNITY
THE NATIONAL HERALD, FEBRUARY 5-11, 2011
3
Angelides Probe Found Money Never Sleeps on Wall Street's Home Turf
Continued from page 1
or the normal business cycle.
Millions of people lost their jobs
and their homes, $11 trillion of
wealth was wiped away and it
will take the country a generation to climb back. This is a serious matter that calls for deep
self-examination.” Part of the
story is that ideas that academics taught would spread risk,
increasing stability, were used
by actual businesses in a way
concentrated it in dangerous
ways, but the cash registers
were ringing louder than the
alarms. The Commission sought
to keep sounding the alarm.
Angelides said that its goal
was to write history that would
benefit the understanding of
policymakers and the public.
However, billions of dollars have
been spent on campaign contributions and lobbyist’s fees have
by the financial industry in recent year and will continue to
be spent to shape the debate
and influence the government’s
actions.
Right out of the box, critics
have seized on the dissenting
opinions of the four Republican
commissioners that were part of
the report. Undaunted, Angelides responded by saying:
“Here is the power of this report: 410 pages are the facts,
the history of what happened
and what is striking is that six
days after the report has been
released, no one has disputed
any of the facts. We stepped forward and instead of saying
some ill wind or magical force
affected our country, we were
very clear this was avoidable. It
was the result of human action,
inaction and misjudgment by
regulators and the chief execu-
tives and managers of these big
financial corporations.” Angelides said hopes the Commission’s work made it less likely
that the U.S. and the world will
face another financial crisis. In
the report itself, three of the Republicans, Keith Hennessey,
Douglas Holtz-Eakin, and Bill
Thomas wrote: “We find areas
of agreement with the majority’s
conclusions, but unfortunately
the areas of disagreement are
significant enough that we dissent and present our views in
this report.” But Georgiou said
it is necessary to read what they
said. Being an attorney, he
would charactering the views of
three of the members as a concurring opinion, saying: “They
concurred in a significant part
with the findings of the full
commission, so at least nine of
the ten agreed with structure of
the report. One commissioner,
for whatever reason, was focused just on (mortgage finance
lenders) Fannie Mae and Freddie Mac, but that’s his professional history.”
WALL STREET WARS
New York Times columnist
and Nobel laureate Paul Krugman describes a war however,
not a disagreement. Referring
to Darrell Issa (R-CA), who is
calling for an investigation of
the FCIC, Krugman wrote:
“What this is really about is intimidation ... the goal is to create an environment in which analysts and academics are afraid
to look into things like financial-industry malfeasance ...for
fear that some subcommittee
will either dig up or invent dirt
about their private lives.” Neither Angelides nor Georgiou responded to TNH’s question of
whether their people were in-
AP/mARK leNNIHAN
Philip Angelides (L) Chairman of the Financial Crisis Inquiry Commission, and Vice Chairman Bill
Thomas, listen to testimony at the FCIC’s hearing at the New School in New York on June 2, 2010.
timidated. Regarding Issa, Angelides said he welcomes the opportunity to present the report
and their findings to Congress,
declaring: “This commission and
its staff conducted itself with the
highest integrity and served the
country, and it would be very
chilling if there were an investigation for political purposes.”
Georgiou added that the
Commission “conducted its work
over 18 months with 50 staff
Angelides and Thomas had a moment of levity when Federal Reserve Bank Chairman Ben
Bernanke walked in to talk about the financial crisis.
members and citizens from all
over the country. We spent less
than $10 million on the investigation of circumstances that led
to taxpayer infusions of trillions
of dollars to bail out the financial
system.” He said the Commission served the public well.
Angelides told TNH that it
was a privilege to serve on the
commission, and said, “The
greatest tragedy would be to accept the refrain that no one
could have seen it coming and
nothing could have been done.”
He also said it was an honor to
serve with Georgiou, whom he
has known for more than 30
years. “It was a good experience
to be able to work together for
our country.” Georgiou acknowledged, however, “There are
enormous implementation challenges for the laws already
passed” and noted: “There are
many circumstances that call
out for serious additional redress.” He pointed out the
frightening irony that, as a result of bankruptcies and mergers, the financial services industry is even more consolidated
now than when firms that were
“too big to fail” and had to be
bailed out.
The report devoted much
space to the emergence of what
it called the “shadow banking
sector,” which consists of financial institutions like non-depository banks such as investment
banks, hedge funds, and money
market funds that are not cov-
ered by banking regulations. Additionally, traditional banks
have been moving assets off
their balance sheets through
practices such as securitization
and especially repurchase agreements (“repos”) that latter facilitate the use of securitized
transactions as a form of money.
Thus, a huge volume of transactions fell under what Georgiou called “a lighter regulatory
purview,” which along with derivatives and other financing
mechanisms which had lower
capital requirements, led to significantly higher leverage in the
industry. Angelides said, “By
2008, the shadow banking system had about $13 trillion in assets and the regulated banking
system had $11 trillion. We had
allowed this big system to grow
unmanaged, unknown, unregulated, with tremendous risk.”
Dangerous levels of leverage
was both the danger and the
warning sign, but as Angelides
told TNH, even after the deregulation that had occurred during both the Bush and Clinton
administrations, “The regulators
had a lot of power and they didn’t use it.” He said major financial institutions were leveraged
40-to-1, “which means that you
had only $1 of capital to cover
losses on $40 of assets. Citigroup’s leverage ratio was 18-1
in 2000, by 2007 it was 32-1
and when you count their off
balance sheet obligation, it was
48-1.” Fannie Mae and Freddie
Mac had a combined leverage
ratio of 75-1, which means if
you have a one or two percent
drop in value, you are wiped
out.” After the fact, the public
is most familiar with the subprime mortgage element of the
debacle, but the report shows
people knew what was going
on. Georgiou said Richard Breeden, who was SEC Chairman
from 1989-1993 has spoken out
about it. Georgiou said, “Wall
Street produced trillions of dollars of mortgages which were
packaged and repackaged and
repackaged which were then
sold around the world, and
when they stopped having
enough real mortgages, they
created synthetic mortgage securities and it became a big
gambling house to the detriment of the country.” Wall Street
became a giant casino. “As a
Nevadan,” Georgiou said, “I
know gaming is a highly regulated industry. There are many
protections to ensure that people who choose to game do so
in a fair environment,” adding
that some leaders in Nevada are
insulted when Wall Street is
compared to their casinos.
HEDGE FUND MYSTERIES
Some critics of the report
said the activities of hedge funds
should have been targeted
more. Asked whether such firms
are in a position to profit from
self-fulfilling prophecies, from
betting on disasters they could
then go out and create, such as
the sub-prime fiasco, Georgiou
said: “There have been allegations that this was done...those
are not necessarily proven in the
report.” He added that they did
examine the situation regarding
at one hedge fund founder, noting: “John Paulsen reportedly
provided particular loans that
were likely to fail to be placed
into collateralized debt obligation (CDO) bonds that were sold
by Goldman Sachs, and which
Paulson was betting against at
the same time when investors
were asked to purchase it.
These are conflicts that have occurred but it’s hard to know exactly how to respond to them.”
Georgiou said implementing reforms is urgent, but there
should be no rush to do so while
Democrats control the Senate
and the White House. He said,
“These are not matters for partisan debate. They are matters
of great consequence to the
country.” He added,
“The
bailout of the financial industry
has provoked anger all over
America and across the political
spectrum,” from the Tea Party
movement to liberal democrats.
Both men will be monitoring
Washington and New York for
signs of patriotic bi-partisanship
and perhaps some enlightened
self-interest on Wall Street.
Fans Struggle to Revive the Triremes But Find They’re Unnavigable
Continued from page 1
PAul lIPKe/TRIReme TRuST
The Olympias under oar, near Poros in August 1988.
New trials will improve knowledge of the speed and agility of
the ships, generating data that
can be used to develop computer models of ancient battles.
Trireme fans also hope to
overcome popular misconceptions about the ships. “Forget
about ‘Ben-Hur’ and the shack-
Law Firm
les and the guy with the whip,”
says Mr. Hirschler, who participated in several of the ship’s
voyages and keeps a 13-foot,
10-inch oar strapped to the
staircase well in his Manhattan
residence. Instead, he says,
imagine a flutist or piper serenading 170 mostly free men to
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and speed. “The trireme is actually one of the oldest puzzles
in classical scholarship,” says
Boris Rankov, a professor of ancient history at Royal Holloway,
University of London. “These
were ships that enabled Athens
to maintain the empire and create democracy.” In the 1980’s, a
Cambridge classicist and the
chief naval architect for Britain’s
Ministry of Defense pooled their
knowledge to build a full-scale
model of a possible structure for
the trireme. Construction was
funded by the Greek government. The ship was around 120
feet long, weighed 55,000
pounds and relied on an additional 33,000 pounds of crew
for ballast. Powered by 170 rowers, the Olympias did five sea
trials in Greece between 1987
and 1994, with a stop in London. Says Mr. Weiskittel, who is
Executive Director of Trireme
Trust USA: “It’s like a time machine.” But the ship hasn’t stood
the test of modern time. It is
currently unfit for sea travel and
is on display in a naval museum
in Athens.
Now a group of New Yorkers
is trying to restore the trireme,
including corrections for some
flaws in the original design, and
row it into the city’s harbor.
They hope the effort will culminate in a voyage around the
Statue of Liberty on July 4 next
year. The project, including an
exhibit and conference, would
cost just under $3 million, the
group estimates, of which they
have raised $575,000. They say
they have permission to borrow
the ship, as long as it is returned
in perfect shape and at no cost
to the Greek government. “The
world has to see this boat. That’s
why we have to bring it to New
York,” says Markos Marinakis,
chairman of Trireme in New
York City Inc. “I’m a proud
Greek. I could not stay out of
it.” It won’t be easy. The ship
needs about $275,000 in repairs. It will have to be carried
to the U.S. aboard a freighter.
Rowers must be recruited.
Scholars say it will be worth it.
keep their strokes in rhythm.
A “trierarch” oversaw the
ship and funded the voyage. “He
is the Steinbrenner of the deal,”
says Mr. Hirschler, who notes
that in ancient times, the trierarch would seek to poach better
rowers through an active freeagent system. “The Athenians
rapidly became the Yankees,” he
says. Controversy still surrounds
the design of the ships. The
word trireme comes from three
and “remus,” meaning oar. But
“how these oars were arranged
was the big puzzle,” says Mr.
Weiskittel. “Three what? Three
levels? Three men to an oar?
Something else entirely?”
Trireme fans can be an impassioned bunch. In 1975, an article
in the The Times of London suggested triremes had been powered primarily by sails. Others
vehemently disagreed, setting
off one of the longest letter-writing exchanges in the newspaper’s history, as engineers, rowers, and classicists poured in
their opinions, arguing over possible speeds and the number of
levels in the ship.
The debate continues. This
month, John Hale, director of
Mr. Spiridakis
and his colleagues
have successfully
won over $50 million
for clients
the past 24 years
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liberal studies at the University
of Louisville and himself a rower,
presented a paper to the Archaeological Institute of America, arguing the Olympias is “quite different” from the triremes of
ancient Greece.
Based on his interpretation of
evidence, he says the classical
ship had only a single mast (the
Olympias has two), lighter construction and possibly oars of
different lengths. Despite what
he considers its flaws, the reconstruction “is a great achievement,” Mr. Hale says. He first
encountered the Olympias when
it was no more than a section of
a ship erected on the lawn of its
creator, Cambridge classicist
John Morrison. “The oars were
pulled through water in a circular plastic swimming pool,” he
says.
The ship “has had a major
impact on the study of Greek history,” Mr. Hale says. Barry
Strauss, chairman of the history
department at Cornell University, agrees. He has visited the
trireme several times for his research—and found it “hot and
cramped” and “stinky.” He is also
a rower, and would jump at the
opportunity to join the crew.
“If they gave me the chance
to do it,” he says, “I wouldn’t
miss it for anything.” Mr.
Hirschler is hoping to recruit an
elite crew that can approximate
the Athenian feats. “Ideally you
would get 170 fitness fanatics,”
he says. “I look at (the ship) as
a human-powered, waterborne
missile that can operate like a
jet boat.”
COMMUNITY
4
THE NATIONAL HERALD, FEBRUARY 5-11, 2011
Konstantinos Antonopoulos Knows How to Ease Human Suffering
Continued from page 1
cred as that of a priest,” Konstantinos Antonopoulos remarked, during the interview he
gave to TNH at the paper’s Long
Island City headquarters. When
a human being dies, the funeral
director is one of the first people
who hears about it. He is the
first one who comes in contact
with the parents, the siblings,
and the other relatives, and the
first one who hears the dirges of
a mourning mother or sister. He
listens to these people, counsels
them, tries to put them at ease,
and assumes all the responsibilities of the funeral, beginning
with receiving the body from the
morgue, to organizing the wake,
funeral service, and burial. He
interacts with the family, and
does the best that he can do for
them. From the moment that we
undertake such a responsibility,
the Greek American Community
and other Astoria residents can
be completely sure that all will
go well and that they can bid
their final farewell to their loved
ones with the honor that befits
them.”
Discussing his choice to follow this profession, Antonopoulos said, “It was a natural choice,
since on the one hand I was the
son of a priest – my father is Rev.
John Antonopoulos and my late
mother
was
Catherine
Antonopoulos – and on the other
hand I had worked at the Joseph
A. Farenga and Sons Funeral
Home, locate at 38-08 Ditmars
Blvd. in Astoria since I was 16
years old. This funeral home has
been in operation for 135 years,
and it has been based in Astoria
for the past half century. It is one
of the few funeral homes that
maintained its family tradition
in full. Konstantinos Antonopoulos graduated with a Business
Management degree from St.
John’s University, and in 1992
he graduated from the American
Academy-McAllister Institute of
Funeral Services. In response to
a question about any difficulties
he faced in choosing a career
located at 27-12 23 Avenue in
Astoria, which had served the
needs of many Greek Americans
living in the area. In addition,
they also purchased the Peter R.
Angerame Funeral Home. All of
the aforementioned businesses
were family owned and operated, but in 1993 they had been
bought out by Service Corporation International, which has the
largest network of funeral
homes in the United States and
operates as a corporation.
During an interview with
TNH at that time, Antonopoulos
had expressed his pleasure and
satisfaction not just because he
was able to expand his business,
but because after 15 years the
Basis Funeral Home once again
returned to being a family
owned business.
“I am especially pleased that
I was given the opportunity to
restore this wonderful funeral
home to its community and family-based nature. We are determined to maintain it as a family
business, and we offer our fellow
men and women the unique services that only a family-run business can provide,” Antonopoulos
said. The offices of all four funeral homes operate out of the
Joseph A. Farenga and Sons Funeral Home, which has an excellent location right in the heart
of Greek Astoria. It has six viewing area and all the necessary
auxiliary areas, as well as a privately-owned parking lot. The
Antonopoulos brothers employ
a staff of 15 persons, including
Greek Americans.
When asked to describe their
role, Antonopoulos replied, “If
you have a sense of duty and
view your clients as human beings, then you can find the
strength to support the grieving
families and help others. We undertake all the responsibilities,
and when a family comes to the
Antonopoulos Funeral Home,
they do not have to think about
anything else.” When asked
what has changed after being in
this profession for over two
decades, Antonopoulos replied
Antonopoulos Funeral Home, founded in 1994, operated inside
the Farenga Funeral Home, which Antonopoulos bought in 1999.
path, he said “it was not at all
difficult.”
According
to
Antonopoulos, “if you love and
honor what you do, then nothing is difficult.” He formed the
Antonopoulos Funeral Home on
May 22, 1994 and operated his
business from inside the Farenga
Funeral Home. In 1999, he
bought the Joseph A. Farenga
and Sons Funeral Home. Then,
in June 2008, as reported by
TNH, the Antonopoulos brothers
bought the Basis Funeral Home,
that “very few things have
changed, because death is death,
and respect for the deceased and
the tendency to follow traditions
remains strong.” In regards to
the cost of a funeral, Antonopoulos said that it has gone up in
recent years because the value
of land has risen and other factors have also changed. “The
cost of a cemetery plot has
changed greatly. Prices have
doubled and in many instances
even tripled. Fifteen years ago,
Clockwise from upper left: Konstantinos Antonopoulos receives
the Man of the Year award from the local Kiwanis Club for his
philanthropy and community service. In the foreground are
his nephew Thomas and his daughters Joanne and Catherine.
Standing behind them L-R: Antonopouolos’ father, Rev. John
Antonopoulos, Konstantinos holding his award, Harry Patone,
Konstantinos’ wife Melanie and the Very Rev. Apostolos Koufallakis, Dean of St. Demetrios Cathedral in Astoria; Konstantinos talks to a child from the neighborhood; his mother Catherine; Konstantinos consoling and advising a client; Konstantine
Antonopoulos.
you could buy a plot in a cemetery for $3,000, while today the
cost has risen to $9,000. This
has made having a funeral more
expensive.”
He also noted that the cost
of a funeral depends on the area
in which the cemetery is located,
and he said that the general rule
of supply and demand holds true
in this instance. “We try to facilitate families and find something
that meets their price range and
preferences,” he said, while also
pointing out that the cost of caskets has not risen too greatly.
When talking about the demographics of his clientele,
Antonopoulos said that 60 percent are Greek Americans, but
also pointed out that percentages change over time, because
each Greek American family will
bring in other Greek Americans
through their recommendations.
Regarding the issue of cremation, he said that there are some
Greek Americans who choose
cremation instead of a traditional burial. “Certainly, this percentage is smaller than every
other ethnic group, because
even the younger generations of
Greek Americans have respect
for tradition.”
Commenting on his Greek
American clients, Antonopoulos
notes that most of them are second-generation. When it comes
to instances of poor Greek Americans, Antonopoulos said that if
it is determined that the deceased does not have any immediate family or anyone to as-
sume the expenses of the burial,
“then we do it for free and with
absolute discretion.” Antonopoulos said, “There are lots of unclaimed corpses at the morgue,
but you will rarely come across
a Greek whose family will not
take it upon themselves to offer
him or her a proper burial. Generally speaking, the Greek American Community has tightly knit
families who care for each
other.”
According to Antonopoulos,
“First-generation Greek Americans prefer to be buried in
Greece, even though the costs
are higher because of airfare,
transportation expenses, and the
funeral homes in Greece which
handle the details of the burial
from their end.” When asked to
describe the business relationship between funeral homes in
Greece and the U.S., Antonopoulos said that there are one or two
funeral homes in Greece which
operate impeccably and treat
clients well, but he noted that
there are others that try to take
advantage of the situation. At
the same time, he also noted
that there are not many young
people in Greece willing to go
into this profession. “The same
thing which holds true for
priests, holds true for funeral directors. They consider it a difficult profession.” In recent years,
Antonopoulos teamed up with
other community officials to organize seminars together with
economists and other financial
specialists, to discuss issues dealing with financial planning after
retirement, preparation of wills,
and the planning of funerals. “It
is better is people plan ahead for
their last days in this life. Only
God knows when our time will
come, but when it does come we
must be prepared. People plan
ahead for all the other major
events in life like births, baptisms, engagements, and weddings. The only event for which
they hesitate to plan in a timely
manner is the mystery and martyrdom of death.”
Antonopoulos adds that
“Greek Americans need to address issues of inheritance and
plan their wills when they are
healthy and of sound mind and
body. They must also state their
desires regarding issues surrounding their death and burial
with absolute clarity. The faster
they plan and buy a plot, the
less expensive their funeral will
be, and more importantly, their
loved ones will have less problems to face when they are confronted with death.” He also
pointed out that viewing hours
are typically from 2-5 in the afternoon and 7-9 in the evening,
after which the funeral service
is held in the parish to which
the deceased belonged, or the
one that his or her family
choose.
Throughout his life, Konstantinos Antonopoulos has been involved in public affairs and has
participated in all sorts of organizations – Greek and non-Greek
alike. He has also served on the
board of directors of various organizations, whether cultural,
professional, or national. He has
been honored by many Greek
congratulations
to our Koumbaro
Congratulations
Gus Antonopoulos
for his continued success and endless contributions
to our Community.
for the honor
THe NATIONAl HeRAlD
bestowed upon you
for your hard work and dedication
and your contributions to our community.
Gus, we wish you, Melina and the girls
a lifetime of success in your future endeavors.
Best wishes to you Gus
and to your family
for health and continuous success.
to our dear Friend and Koumbaro
Gus Antonopoulos
From John and Maria Gatanas
and family
From
Demetrios and Anthoula Gatanas
and family
American and non-Greek organizations for his charitable work
and social contribution. Two
years ago, he was named Man
of the Year by the Kiwanis Club
of Astoria and Long Island City.
During the awards ceremony,
then New York State Assemblyman Michael Gianaris remarked:
“Konstantinos Antonopoulos was
born and raised in Astoria, and
among other things, he is a personal friend who brings honor
to the Greek American Community through his work and deeds.
He is a distinguished businessman and philanthropist.” The
Pastor of the St. Demetrios
Cathedral in Astoria V. Rev.
Apostolos Koufallakis also noted
at that ceremony, “Tonight we
honor a man who was born and
raised in Astoria, and the St.
Demetrios Community of Astoria, where Konstantinos was
brought up, feels a great deal of
pride. As you may know, Konstantinos is the son of Rev. John
Antonopoulos, who still serves
our community today. We have
all gathered here to celebrate
Konstantinos’ award and congratulate him, his father, and his
family, while at the same timeexpressing our love and support
to the people who work for the
city we live in and its future.”
George Kitsios, the then president of the Greek American
Homeowners’
Association
noted:
“Konstantinos
Antonopoulos’ award is an
honor for the Greek American
Community, and it also serves
as an inspiration to other Greek
Americans to give back to society.” George Alexiou, a Kiwanis
Club board member, expressed
his happiness over the fact that
in recent years the Man of the
Year award has been given to
Greek American businessmen
and doctors. “I am a member of
this organization for over fifteen
years, and I have firsthand
knowledge of Konstantinos
Antonopoulos’ contribution. He
offers a lot to the organization,
and we unanimously decided to
name him our Man of the Year.”
Konstantinos Antonopoulos is
the second of four children born
to the Rev. John Antonopoulos
and his late wife Catherine
Monos. Although he is a secondgeneration Greek American, he
speaks Greek fluently and credits his family, the St. Demetrios
Greek Afternoon School and the
fact that he grew up in Greek
Astoria for this accomplishment.
He is married to Melanie
Drakakis, with whom he has
two daughters, Catherine, 12,
and Joanne, 11. Both his children attend Greek language
classes at the Efstathios and Stamatiki Valiotis Greek School at
the Holy Cross Church in Whitestone, NY. When asked which
parish
he
belongs
to,
Antonopoulos joked, “I belong
to all the Greek Orthodox
churches in New York. I love
them and I honor all their communities.”
COMMUNITY
THE NATIONAL HERALD, FEBRUARY 5-11, 2011
5
Dr. George Bakris, Hypertension, Kidney Healer: Man of Medicine
Continued from page 1
of Nephrology. He has also been
a visiting professor to universities in more than 11 countries.
“These experiences have helped
me grow to understand myself
better as person and a physician,” he said.
These awards and his work
ethic confirm that Bakris is not
a man who waits for opportunities to come to him. He makes
them happen. His career and life
overall reflect his drive to succeed in whatever he sets sights
on. This trait comes from his
parents who emigrated from
Greece. His father, Louis, who
was raised in the village of Psari,
outside of Corinth, came to the
United States in 1921, and his
mother, Athena, who hails from
the village of Pythagorian in
Samos, arrived in 1940. The
couple ultimately settled in
South Bend, Indiana. Bakris was
born in Athens, Greece. His
mother flew back to her native
land to visit the island of Tinos
and pray for the delivery of a
healthy baby after having four
miscarriages and being treated
for a kidney stone. She came
back to the United States when
Bakris was six weeks old.
Though Bakris’ father only had
a second grade education, he
managed to establish a successful business selling produce at
time when convenience stores
did not exist. “He basically created his own (moving) supermarket,” said Bakris. “He
bought a truck, went and got
fruit and vegetables wholesale,
created a route for himself and
ended up in the very prominent
neighborhoods of the city, selling fruits and vegetables doorto-door. He grew it into a very
large business and did very
well.”
But when 14 years old,
Bakris’ life changed dramatically. His father, who had often
been sick with heart problems
stemming from a heart attack
12 years earlier, died of a ruptured aortic aneurysm when he
was 82 years old. This forced
his mother, who Bakris says was
a major influence on his life, to
make some tough decisions for
the family. First, she went from
being a stay-at-home mom to
working full time. Though
trained as a midwife in Greece,
she wasn’t licensed in the
United States. As a result, she
became a nurse’s aide but soon
switched to factory work for the
higher pay. She also decided to
send her only child to Howe Military School, a private college
prep boarding school about 55
miles from South Bend, in lieu
of him attending another high
school and fending for himself
when she was at work. “There
was an admissions test that I
took and passed and got in really at the 11th hour,” recalled
Bakris. “School was starting in
September, and my father died
in August, so this was all timing;
it was kind of an emergency.”
Bakris was first exposed to
the world of medicine because
of his father’s illnesses, but it
was during military school that
his interest in biology and chemistry increased because of the
quality teachers at the institution. “We got a lot of attention,
which was very good,” said
Bakris.
“It was very disciplined, very
high level. You definitely got
what the Brits would call a
proper education.” An advanced
biology course his senior year
exposed him to the world of genetics and other high level
forms of biological sciences.
“That really turned me on to
medicine so I decided that’s
what I wanted to do and went
down that road.” Bakris’ decision to become a doctor took
him back to his homeland of
Left: Louis Bakris with a truck he used for business back in
1945. Top: George Bakris and his wife Demetria, enjoying a
lighter moment, too rare for a man whose work keeps him on
the go all the time
Greece. After completing his undergraduate degree in biology
and psychology at Indiana University in 1974, Bakris finished
a master’s degree in human development at the University of
Chicago in 1975. Bakris then applied to a Ph.D. program in psychology at UCLA and to medical
school at Indiana University. He
was accepted at both schools,
but on the recommendation of
his mother’s surgeon - who had
performed triple bypass surgery
on her and happened to be
Greek - Bakris also applied and
was accepted to the University
of Athens, which was free. “Sev-
cussing the requiring of dialysis,
cancer and stroke.” Bakris periodically goes back to Greece for
both business and pleasure.
“Within the last two years I have
or gone four times to speak at
the Diabetes, Hypertension and
Nephrology meetings,” he said.
He gave the Araeteion Lecture,
which is a major keynote talk at
the National Diabetes meeting
in Alexandropolis. Additionally,
he was awarded an honorary
doctorate degree from the University of Thessaloniki School of
Medicine.
After completing his residency at Mayo Clinic in
George Bakris in his office, a fitting place for a studious man
who takes his critical professional very seriously indeed.
enty-five Americans applied that
year, and they accepted 10. I
was one of the 10.”
STUDYING IN GREECE
While in Greece, Bakris completed his first two years of medical school and passed Part 1 of
the boards before transferring
to the Rosalind Franklin University of Medicine and Science in
Chicago and completing medical school in 1981. During
those two years in Greece,
Bakris obtained knowledge that
spanned beyond the basic science courses he took for medical
school. “(Studying in Greece)
has given me a more diverse
perceptive that I wouldn’t have
gotten solely growing up in
American medicine,” said
Bakris. “Specifically, this does
not relate to scientific approaches but to patient interaction and family interaction, the
sharing of thoughts and explaining a given disease to the patient and interacting with them
and their family when dis-
Rochester, Minn., Bakris went
back to the University of
Chicago to specialize in nephrology and clinical pharmacology.
Fast forward to today, and you
will find that he is involved in a
multitude of projects related to
this subject matter. Hypertension in the context of diabetic
kidney disease is Bakris’ top area
of research. Bakris is known for
his research regarding kidney
disease in the African American
population. He has been an investigator in at least three trials
regarding this area of research,
including the National Institutes
of Health’s trial, called the
African American Study of Kidney Disease.
Currently he has received
funding for four different studies looking at the relationships
between changes in vascular
compliance and central aortic
blood pressure reduction with
agents that inhibits inflammatory cytokines. “We’re looking
at the stiffness of the vessels in
people with diabetes and
whether particular drugs used
to treat blood pressure affect nitric oxide, which is actually a
gas that is released by cells and
help the cells become pliable,”
said Bakris. “This study is important because people that
have stiff vessels are much more
likely to have strokes. If we can
reverse this or improve this, we
will reduce their likelihood of
strokes — that’s the theory
we’re trying to prove.” Bakris is
also part of a multicenter study
called the RHEOS trial. “There’s
a subgroup of people that even
though they are on four, five or
six medicines, they still have
very high blood pressure,” explained Bakris. “So the question
is: Can you help these people
beyond just these medicines?”
Scientists involved with this
study have created an electrical
device similar to a pacemaker
that is placed around the corroded artery near the nerve signals where the barrel receptors
are. These receptors send nerve
signals between the brain and
the heart and help regulate
blood pressure. “This device,
which acts a bit like a pacemaker is put around the corroded artery surgically and
then dialed up with an electrical current from these devices,” said Bakris. “They’ve
seen as much as 20 to 25 millimeters further reductions in
blood pressure. In many cases
people can get off some of the
drugs that are causing them
to have side effects.” Bakris
said he believes the study is a
potential landmark case because it could offer patients
an adjunct to drug therapy
with fewer side effects.
STUDYING DISEASE
In addition to his involvement with a number of trials,
Bakris is president of the
American Society of Hypertension. “The Society is experiencing a renaissance with
younger people on the board
and a renewed vitality,” said
Bakris. “My hope is to harness
this energy and lead the Society
in directions that will help the
nation achieve better blood
pressure control and understanding of the contribution of
hypertension to cardiovascular
disease development. Moreover,
make the ASH the go-to society
for questions related to hypertension.”
And when asked how he
would like to be remembered in
the field of hypertension, Bakris
noted two studies that he was
most proud of. The first study
made some observations based
on analysis that he and fellow
scientists did about treating patients and changes in kidney
function. They provided some
guidelines about how people
should approach these patients.
“We provided data and a perspective on how to interpret
changes in kidney function
when a commonly prescribed
class of antihypertensive drug is
used,” said Bakris. “We published this in 2000, and it has
now been incorporated into all
major guideline statements related to hypertension.”
A related but equally important study demonstrated how
the measurement of urine protein could be used to assess the
progression of kidney disease.
Bakris said, “These studies described how reducing proteinuria with agents that lower
blood pressure changed the rate
of kidney function decline. This
has now been confirmed and is
on the forefront of changes in
therapeutic
management.”
Bakris credits his success and
his ability to juggle his professional endeavors and personal
life to his wife, Demetria. “She
has been a key anchor in carrying out the day-to-day activities.
When Bakris was a resident his
wife worked in food service
management at one of the local
hospitals in Rochester. She continued working until Bakris finished his fellowship, becoming
a stay-at-home mother when the
couple started having children.
“In that role she manages all the
finances and has helped (with
fundraising efforts) when I was
president of the Hellenic Medical Society in Chicago. She also
manages my social schedule and
makes sure that all goes well.
As they say ‘behind every successful man is a woman.’”
Today, Demetria Bakris heads
the Philoptochos at Saint George
Greek Orthodox Church in
Schererville, Ind., an organization that holds fundraising
events for the church to serve
the poor in the community. Previously, she was in charge of educational programming and
fundraising events for the National Hellenic Museum and
Cultural Center in Chicago. The
couple has two children. Their
daughter, Athena, was graduated
from Purdue University in Indiana with a Bachelor's Degree in
Public Relations and is pursuing
a Master's Degree in Communications. Their son, Louis, attends
Purdue, working on a degree in
mathematics/computer science.
“My family has forced me to prioritize my time to make sure I
attend the sports and school musical performances as well as
other activities of my children,”
concluded Bakris. “Family
changes your perspective on life
because you have to share your
time more, even when you perceive that you don’t have any.”
Amalia Deligiannis is a freelance writer and editor, based
in Chicago.
Congratulations
on your accomplishments
as a Businessman
as a Good Father
and as a Friend
Steve Iocco
Dear friend Gus
CONGRATULATIONS
on your accomplishments
You definitely deserve
the honor and recognition
from the National Herald
Congratulations
to our dear friend
Gus Antonopoulos
for his generosity and contributions
to the Greek American community.
Wishing you health and happiness always
Adam Sprung We wish you happines and continued success
in all your work and endeavors.
Sprung Monuments
John and Rita Kyriakides
COMMUNITY
6
THE NATIONAL HERALD, FEBRUARY 5-11, 2011
Olympia Dukakis Likes Her Familiar Roles, Especially on Stage
NEW YORK (AP) - The 79-yearold Academy Award-winner
Olympia Dukakis has a tendency
to return again and again to the
same plays and the same roles.
By her count, she’s done Eugene
O’Neill’s Long Day’s Journey
Into Night three or four times,
Bertolt Brecht’s Mother Courage
and Her Children four times,
Tennessee Williams’ The Rose
Tattoo five times, Euripides’
Hecuba three times, and several
Chekhov plays “a bunch of
times.” “I love to go back to
plays over and over again,” she
says while taking a lunch break
from rehearsing her latest project, an off-Broadway production of Williams’ The Milk Train
Doesn’t Stop Here Anymore.
“You go back and there are new
things that come up and other
things that percolated and
cooked,” Dukakis says. “You get
into it a little bit differently, in
some ways deeper.”
Dukakis plays Flora Goforth,
a fearsome but gloriously
wealthy ill American who has
buried four husbands and retired to an Italian villa high atop
a mountain to furiously write
her memoirs before she dies.
Her work is interrupted by a
mysterious, hunky younger man
who offers his company in ex-
change for refuge. “In spite of
the fact of her being a monster
so to speak, there’s something
so human about her that we all
can connect to,” says Dukakis.
“None of us want to be defeated
by age. We all want to feel passion in our lives.” And, yes, she’s
done the play before, too.
The Massachusetts-born actress first played the challenging
in
1996
at
the
role
Williamstown Theater Festival
and reprised it in 2008 at Hartford Stage under the direction
of Michael Wilson. The Roundabout Theatre Company has
brought both Wilson and
Dukakis to its Laura Pels Theatre
on 46th Street. “She has dared
to put the full force of her being
and talent into this role,” says
Wilson of his star. “In order to
do this, I think Olympia has had
to throw vanity out the window,
which she is not afraid to do.
Not all actors of her stature and
success and beauty are willing
to do this.” Considered to be a
minor work from a playwright
already on the decline, Milk
Train has been largely overlooked in the Williams’ cannon.
This production, part of a celebration commemorating the
centennial of the playwright’s
birth, proves that even his lesser
Olympia Dukakis revives the role of widow Flora Goforth in a
new production of The Milk Train Doesn’t Stop Here Anymore.
plays can be lyrically powerful.
“Sometimes it annoys critics
that these plays are done,” says
Dukakis, visibly exhausted and
picking at a turkey burger.
“Sometimes they feel that it’s
dated. I can’t see how this play
is dated at all.” Milk Train had a
somewhat cursed life on Broadway. It opened on Jan. 16, 1963,
during a newspaper strike —
meaning no advertising or reviews — and closed after just 69
performances. Williams revised
his script and it opened again
the following January, starring
Tallulah Bankhead and Tab
Hunter. It only lasted five performances. A film version was
made called Boom! in 1968 with
Elizabeth Taylor and Richard
Burton, which Dukakis dismisses
as “stunning in its obtuseness.”
Dukakis is very familiar with
Williams, having been in productions of his A Streetcar
Named Desire, Summer and
Smoke, The Glass Menagerie
and The Night of the Iguana, in
addition to her five times aboard
The Rose Tattoo. “I’m drawn to
him because it feels like there’s
a truth that I understand and
live with which is in the plays. I
can be honest,” she says. “It’s the
honesty he keeps finding, the
truth he keeps finding.”
Dukakis’ career has been
steady and rewarding, highlighted by roles such as Clairee
in Steel Magnolias, the TV
miniseries adaptation of Armistead Maupin’s Tales of the City,
and her Oscar-winning turn as
Cher’s sardonic mother in
Moonstruck. For almost two
decades she also ran her own
theater company with her husband of 48 years, actor Louis
Zorich, while the couple raised
their three children. She isn’t
slowing down, either, despite
her 80th birthday coming up
this summer. After Milk Train
ends in April, there’s a movie
and then she’s booked to be in
Morris Panych’s Vigil at the
Mark Taper Forum in Los Angeles in November. In between,
she’s set to perform Rose in July
at the birthplace of her parents
when she attends the International Festival of the Aegean in
Greece in mid-July.
And, yes, she’s done that play
before, too. The one-woman
Rose, written by Jewish-American playwright Martin Sherman,
is essentially a two-hour monologue by an 80-year-old Holocaust survivor. Dukakis has
played it in London and on
Broadway in 2000, among other
places. Even though she’s intimately connected to the piece
and has memorized it before in
what critics called a tour de
force, for the upcoming Greek
production she’ll keep referring
to the 67-page script on stage
— she’s a little out of practice
to do it off-book. “I’d have to be
doing it every week,” she says.
“And I’d shoot somebody.”
Kostos Gets His Writers to the Greek Every Month, and They Like It
By Constantine S. Sirigos
TNH Staff Writer
NEW YORK – Of the civilizations that have come and gone,
it’s by their art that we know
the handful whose legacies remain. They still speak through
their sculpture, architecture and
painting, but we know them
most intimately and deeply
through their writers. When laymen and historians examine the
Greek American community
decades and centuries hence, it
will be largely by our literary
fruit that they will know us, and
a weekly series of meetings of
the Greek American Writers Association is designed to make
sure they do. Led by its President, Dean Kostos, the GAWA
presents the community’s authors, and non-Greek writers
with a passion for Hellenism, on
the third Sunday of every month
at the Cornelia Street Café. The
Greenwich Village café, whose
upstairs is a restaurant and
downstairs is a renowned part
of New York’s musical and literary scene, was filled with Greeks
and Philhellenes on January 15,
offering a venue and encouragement to the Greek American
writers in New York.
Having read for the series
many times, Penelope Karageorge was a featured reader
and she dedicated one of her
poems to Kostos, Lunching with
Lola, which took first prize in
the Literal Latte contest. Karageorge calls herself a diehard
New Yorker, but she is a Greek
American with a house on the
island of Lemnos. She is a journalist, novelist and poet who is
currently pursuing production
of her film scripts, Drinking the
Sun, a romantic comedy set on
Lemnos, and The Neon Jungle,
a thriller set in New York. She
started her journalistic career at
Newsweek interviewing celebrities and was publicity director
at People magazine.
Karageorge told The National Herald she has not always
been faithful to her poetic gifts
and ignored the awards, which
acknowledged them. “I wrote as
a kid and won high school poetry contests twice, then I didn’t
write any for years,” she said,
“but in the New York Times
Book Review I saw a note about
a contest for poems celebrating
New York and wrote it in 15
minutes. I sent it in without
thought, and then got a letter
telling me I was one of 25 finalists, then they said I was one of
10.” She was invited to the ceremony in a famous bookstore
that used to be in Midtown
Manhattan. She told TNH that
then-mayor Abe Beame was
there along with “other poets,
women in long black dresses,
the publishers of the New Republic. The women were upset
that I won third prize – I was
an interloper.”
Again she abandoned her poetic muse, turning to novels –
two were published - and working at People magazine. Eventually she had enough, vowed
never to return to the corporate
world and realized she had to
explore poetry. She earned an
M.F.A. at City College, mainly
writing poems, and “My stuff
started getting published. Pella
published my collection Red Lipstick and the Wine Dark Sea, inspired by Greece. I write a lot
of poetry when I’m in Greece,
Karageorge, whose poems have
been published in many anthologies, told TNH.
Angelo Nikolopoulos is a
Greek-American poet who was
raised partially in Athens, Greece
and Los Angeles. He taught English in high school in Oakland
and currently lives in New York
City where he is completing his
Master's Degree in Literature and
Creative Writing at NYU. Much
of poetry that has come down to
us, and probably much more that
is unpublished, is erotic in content. Nikolopoulos embraces the
erotic whole-heartedly and with
an edgy humor that is most welcome in Manhattan. One poem
examines autoeroticism. At one
point he tells off the snake that
bites its tail – prompting an audience member to note, “You
don’t often encounter references
to ourobouros in contemporary
Manhattan.”
Nikolopoulos enlightened
the gathering about the changing sources of poetic inspiration
and the impact of technology on
culture, and the thread of homoeroticism that extends
throughout the history of Greek
literature when he noted that
he has been writing poems
based on the title of video clips
Dean Kostos offers Greek
American writers the mike.
on X-Tube and read a series of
them.
FOR THE LOVE OF GREECE
Jason Schneiderman’s poetry
and essays have appeared in numerous journals and he was the
recipient of the Emily Dickinson
Award from the Poetry Society
of America in 2004. A graduate
of the MFA program at NYU, he
is currently completing his doctorate at the Graduate Center of
the City University of New York.
Schneiderman fits the category
of Philhellenes, and he displayed
his love for one Greek in partic-
ular, the poet Constantine
Cavafy, whose poem Of the Jews
in (50 A.D.) was the first he
read, and into which – to the delight of the audience – he inserted his own name and a reference to New York. He told
TNH that he had childhood fascination with Greek myth, and
its “awesome stories that will
serve you well.” In addition to
being a “useful grounding for
western culture,” he said, “The
Greek gods felt more honest to
me than the Judeo-Christian stories (he learned) where goodness and justice prevailed.” In
the real world it’s clear to him
that power rules, he said. “Power
and beauty and smarts and immortality lord it over everyone
else. Socrates lied, when he
taught only the good things the
gods did were true and that bad
things (Zeus and the others did)
were made up by the poets.”
Apropos of the evening, he
searched his writing for Greek
references. His first poem was
inspired by John Lennon and
Yoko Ono’s famous 1969 antiwar billboard that read: War is
Over! If you want it.
Aeschylus reminds us/ that
Might and Violence/are never
far apart.
They work together./In this
case not to bind Prometheus,
but to make sure/ Hephaestus does.
A good question is/ What
would you die for?
Another question is/ What
would you kill for?
Edmund Miller was one of
two guests who took advantage
of a new open microphone segment that Kostos initiated. Miller
is the author of scholarly books
about 17th Century British literature and his stories have been
published in magazines and in
anthologies and are collected in
the book Night Times. He began
with the Go Go Boys sonnets
about the New York club scene.
Miller also teaches Ancient Civilization survey course at C.W.
Post College and is working on
a modern version of a satyr play,
which was a component of ancient Greek theater festivals, but
since only one has survived, he
told TNH: “We don’t really know
the parameters.
Kostos, who founded GAWA,
began the series at the café 20
years ago. He said his aim as editor of the poetry collection,
Pomegranate Seeds: An Anthology of Greek-American poetry
was to provide a forum for Greek
American poets. He is also the
editor of the Journal of the Hellenic Diaspora. Kostos has published three collections on his
own poetry: Celestial Rust, The
Sentence That Ends with a
Comma, and Last Supper of the
Senses. Kostos, who teaches writing and literature, said that writers should attempt all genres.
Greek Americans, of course,
are noted for their ability to find
and write compelling stories,
ranging from prose to poetry to
movies and the stage, and even
songwriting.
[email protected]
SPORTS
Michigan Success Leads Anagnost to Head UMiami Women’s Soccer
By Theo Karantsalis
MIAMI, Fla. - The University of
Miami hired Central Michigan
University’s Tom Anagnost to
serve as its new head women’s
soccer coach. "Tom Anagnost
brings a tremendous amount of
knowledge to the University of
Miami," said University of Miami Director of Athletics Kirby
Hocutt. He said UM’s standard
is “athletic excellence at the national level” and that led him
straight to Anagnost. Last November, Hocutt began a national
search for a new head coach after announcing then-coach Tricia Taliaferro’s contract would
not be renewed. The reason:
UM’s Hurricanes ended 2010
with a 10-8-1 record and ninth
in the ACC regular season standings. Anagnost, 37, comes to
town with sterling credentials
including being named the 2008
and 2009 Mid-American Conference coach of the year after
his former CMU Chippewas
racked up a 25-3-5 record in
conference play with a winning
percentage of .833. Last year,
CMU won their second-straight
NCAA tournament in 2010 with
a 16-5-1 record. Along the way,
Anagnost also helped 23 players
earn All-Mid-American Conference honors. "I'm extremely
grateful and very excited for this
wonderful opportunity to be the
head women's soccer coach at
the University of Miami," said
Anagnost.
He leaves CMU as its all-time
winningest coach in terms of
winning percentage (.737) after
posting a 40-12-7 record in just
three seasons. "Tom has done
an outstanding job leading our
women's soccer program to unprecedented heights and we appreciate all of his efforts," said
CMU Athletics Director Dave
Heeke. Heeke said it was tough
to see him leave CMU but Anagnost left the program in very
good shape. Anagnost worked
at CMU as an assistant coach in
2007, then took over as interimcoach in 2008 when he was
named MAC Coach of the Year
after ending with a second-place
conference finish and a 12-5-3
record.
In 2009, the Chippewas became the first team in conference history to post an unbeaten
league record of 17-4-3 with 90- 2 in Mid-American Conference play. CMU also led the nation in defense with 19
shutouts. Before starting his
coaching career in 1999, Anagnost amassed a long list of soccer accolades that included being named:
An NCAA Division III All
American (three years in a row)
First Team All-Midwest Region (four years)
First Team All-League (four
years)
Team Captain and MVP
(three years in a row)
1994 MIAA Most Valuable
Player
1996 Mid-Michigan Bucks
USISL
An All-Star nominee (out of
48 teams)
2006 inducted into the Kalamazoo College Hall of Fame
Anagnost, son of Christ and
Agnes Anagnost, of Saginaw,
Michigan, gave back to his
community by founding the
largest one-week soccer camp
in the state of Michigan. Proud
of his Greek heritage, Anagnost
said that from 1995 through
1997 he was recruited by three
professional Greek First Divi-
Tom Anagnost will now head
women’s soccer coach at UM.
sion Teams. “Tom fell in love
with soccer at 14,” said Christ
Anagnost, who expected his
son to be a lawyer like he was.
“He has a high IQ but I knew
his heart was elsewhere when
he brought home a report card
from college showing a class
called ‘fundamentals of coaching.’” After college, Anagnost
went on to play professional
soccer for the Chicago Power
in 1995 under Alkis Panagoulias, a former U.S.Olympic Soccer team and Greek national
team head coach. He also
played in 1996 for the Michigan Bucks.
For all the on-field success
Anagnost brings to Miami, he
also wants his new team to succeed in the classroom. After taking over the Chippewas in 2008,
the Kalamazoo College graduate
helped Central Michigan finish
with the top grade point average
in the nation each year.
"It is of the utmost impor-
tance to me that our current and
future student-athletes are ultra-committed to the highest
standard of excellence,” said
Anagnost, the third head coach
of the UM women’s soccer team.
Anagost said he looks forward
to serving UM’s student-athletes
and increasing their commitment level to get better every
day, both in the classroom and
on the field. "His dedication to
improving student-athletes on
and off the field is unparalleled,"
said Kirby Hocutt, UM’s athletics
director. “We are excited to welcome him to the University of
Miami family.”
His success at Central Michigan gave Anagnost the chance
to step into the bigger world of
major college women’s soccer,
a very competitive field indeed,
but one for which his teaching
methods seems suited.
Walk-On Pantazopoulos Gets Shot at U.S. Major League Soccer
The Chicago Fire Soccer Club
announced
today
that
Paraskevas “Pari” Pantazopoulos
is the winner of the 2011
Chicago Fire Open Tryout. The
Greek born, Mt. Prospect, IL
midfielder emerged from the
210 person tryout and will join
the Fire for a week of training
with the club opens its preseason camp at the Bridgeview Soccer and Sports Dome on Monday, Jan. 31.
“Playing professional soccer
has always been a dream of
mine,” said Pantazopoulos. “I
have been a supporter of the
Fire since I moved to the United
States in 1998. I am very thankful to the club for this opportu-
nity.” Born in Athens, Greece,
the 22-year-old midfielder was
one of 210 players, representing
19 different countries who attended the 2011 open tryout.
Pantazopolous began his soccer
career with Vrilissia Academy in
Greece at eight-years-old. Following his family’s move to Mt.
Prospect, the attacking midfielder played with Green and
White (1998-2002) and locally
with the Illinois Youth Soccer
Association (2002-2007) before
joining Asyl Lisis in Cyprus in
2007. After a year’s stay in
Cyprus, Pantazopolous returned
to the country of his birth to
play with Zakynthos from 20082010. “Our Player Development
staff evaluated a lot of talented
players over the course of two
days,” said Fire Technical Director Frank Klopas. “Pari stuck out
amongst the crowd. Our open
tryout gives players, like Pari, a
chance fulfill their dream of
playing soccer at the professional level. We are excited to
have Pari train with the first
team to see if he has what it
takes.”
Of the 210 players participating on Day One of the tryout,
35 were invited back for a second look by the Chicago Fire
Player Development Staff and
one was selected to train with
the first team. (www.chicagofire.com)
Paraskevas ‘Pari’ Pantazopoulos is a midfielder to watch.
THE NATIONAL HERALD, FEBRUARY 5-11, 2011
ARTS & CULTURE
7
ALL HISTORY
Texas Garage Band: Thaks For the Memories of Those Happy Days
By Steve Frangos
gained some prominence (all be
it briefly) in the 1960s and
1970s were the Bad Seeds,
(which morphed into) Bubble
Puppy, the Liberty Bell, Second
Story, and Clockwork Orange.
While Zakary Thaks and these
others were unquestionably territorial bands it must be
stressed, even if only in passing,
that the Texas rock bands toured
to southern California and that
the influences of car culture
based music and even surf music had strong ties to the music
being created by the local bands
of the Lone Star State.
In 1966, the new currents of
cultural change just becoming
available in Texas took many
TNH Staff Writer
Exactly how many teenage
Greeks and Greek-Americans
during the 1960s, played in local bands isn’t known. Names
change as the times change. Today’s cult bands were once the
territory or regional bands of
the past. A territorial band was
(and still is) a popular local act
that never becomes nationally
famous or at least not for long.
Many of these second tier
groups were extremely popular
locally and often had one-hit
song that was played around the
nation. In traveling around the
country it is remarkable to discover how many of these local
bands are still discussed as a
fundamental part of the memories people hold of their very
first introductions to the music
the 1960’s and 1970’s. While
everyone is able to find the music of the Superstar performers
or bands that are literally international in their popularity locating the music of the territorial bands or performers until
quite recently used to be virtually impossible. Few GreekAmericans, today, associate the
Rock Revolution with their fellow Greeks. Yet names such as
Nick Gravenites, Alex Korner,
Jimmie Spheeris, or Johnny Otis
(Veliotis) and/or his son Shuggy
Otis in R & B nor (somewhat
latter) even Tony Orlando, Diamanda Gals and Tommy Lee
(from Motley Crew) are all
names and performers who influenced and continue to be an
inspiration for popular music.
Chris Gerniottis was lead vocalist for the group Zakary
Thaks, a popular Texas-based
band that from 1966-1969 more
or less centered in Corpus
Christi. The group was inspired
by surf music and newly emerging bands such as the Rolling
Stones and the Yardbirds. Zakary Thaks released some halfdozen regionally distributed singles from 1966 to 1967. Aside
from Gerniottis as lead vocals
there was lead guitarist John
Lopez, rhythm guitarist Pete
Stinson, bassist Rex Gregory and
Stan Moore on drums. Zakary
Thaks was a high school band,
first known as the Marauders
and then the Riptides, that
made good. And right away.
Gerniottis was only 15 years old,
in the summer of 1966, when
the group’s first single Bad Girl
came out. Gerniottis recalls that
“Bad Girl really took off in Corpus Christi, and at the same
time I Need You (the flip side to
Bad Girl) took off in San Antonio and down in the Texas Valley. So we were sitting here
wondering which song was going to be the biggest hit. And
it’s kind of unfortunate in a way
that I Need You became more
popular; because that’s the song
we didn’t write.” I Need You was
a song written and first released
GREEK POETRY
Southern Cross
(Stavros Tou Notou)
In the nor-wester the waves
boiled;
we were both bent over the map.
You turned and told me how in
March
you'd be in other latitudes.
A Chinese tatoo drawn on your
chest;
however you burn it, it won't
come off.
They said that you had loved
her once
in a sudden fit of blackest fever.
Keeping watch by a barren cape
and the Southern Cross behind
the braces.
You're holding coral worrybeads
and chewing bitter coffee beans.
I took a line on Alpha Centaurus
with the azimuth compass one
night at sea.
You told me in a deathly voice:
"Beware of the stars of Southern
skies".
Another time from that same
sky
you took lessons for three whole
months
with the captain's mulatto girl
in how to navigate at night.
In some shopin Nosy Be
you bought the knife - two
shillings it cost right on the equator, exactly at
noon;
it glittered like a lighthouse
beam.
Down on the shores of Africa
for some years now you've been
asleep.
You don't remember the
lighthouse now
or the delicious Sunday sweet.
Nikos Kavvadias (1910-75)
Zakary Thaks wasn’t the name of one person, but a Greek
American influenced Texas band in the 1960’s
by the Kinks.
GETTING SIGNED
As Gerniottis remembers, it was early
1966; Zakary Thaks
was playing Bad Girl’ at
the Carousel Club in
Corpus Christi when
they got approached by
Carl Becker, who, with
his brother-in-law Jack
Salyers had just started
the
J-Beck
label.
Gerniottis remembers
that, “After we signed
with J-Beck, the thing
just kind of catapulted,
because J-Beck was the
only professional music
business in town. Carl
was our manager and
felt we needed a record. I mean
the ink wasn’t even dry on the
contracts and…we record(ed)
Bad Girl and I Need You” Such
was the local response to the
record that Mercury Records
picked up the Bad Girl/I Need
You single for national distribution. In time both Mercury
Records and ABC Records entered into talks with the group.
Not bad for a bunch of Texas
kids who most often practiced
in a garage. The exact origins
of the group name Zakary Thaks
are lost in time. It sounded
British and that seemed to carry
the day. While Zakary Thaks
played mostly in Texas (in
towns such as San Antonio,
Austin Huston, Divine, Casterville, Hondo, Victoria and others) they also toured to
Lafayette, Baton Rouge and
even down to Mexico. Coincidently, on August 1, 1966, Zakary Thaks, was performing in
Austin the weekend Charles
Whitman climbed the University
of Texas’ Texas Tower and killed
16 people with a rifle, most on
the streets below. In time the
group appeared on local Saturday morning teen shows such
as Teen Time in Corpus Christi
(Channel 3, the local ABC affiliate) with host Charlie Bright,
Swing Time in San Antonio and
in 1967, and The Larry Kane
Show, yet another of the teen
oriented shows in Corpus
Christi.
Zakary Thaks was only one
of the local Corpus Christi bands
that made an impact in the region. Other regional bands that
forms. Zakary Thaks
was known for its
trendy mod clothes on
stage. Gerniottis attributes this to S & Q
Clothiers, a fairly conservative upscale men’s
shop in Corpus Christi.
Following some sense
of the new evolving
trends in clothing at
the very back of this
store a Mod Shop section opened, featuring,
as Gerniottis recalls,
“all the latest Carnaby
gear and Beatle boots
and paisley shirts, the
whole nine yards. This
was where all the cool
cats shopped.” Sam
Moore was unofficial leader of
Zakary Thaks. As Gerniottis describes the group, “I was just the
lead singer … Stan was in control as far as the direction of the
group. He was the slave driver
as far as we had to rehearse
every day, we had to rehearse
from this time to this time, let’s
play it again, let’s play it again,
you know he was a slave driver.
After a while, Rex, became like
that too. I think thats why they
clashed later in life because they
were similar in that way. (At the
1982 Reunion gig, Stan and Rex
had such a falling out that Stan
refused to play that night.) They
were real taskmasters. Stan was
always saying, “It is really not
good enough yet.”
PLAYING ON
By December 31, 1967, Za-
kary Thaks had released the
records, Bad Girl, Face to Face,
Please, and Mirror of Yesterday.
But Gerniottis recalls growing
trepidation. “Each one got
worse as far as I was concerned.
For instance Please, because we
had not written it, it wasn’t really what I felt was a true reflection of what I felt we were
as a band. (Please was written
by Mike Taylor, former Bad
Seeds member and the unofficial sixth member of Zakary
Thaks).” Taylor had this role
given his personal friendship
with the band members and
that he wrote a number of songs
for the group. They had some
fame-by-association. Gerniottis
notes: “We played with the
Yardbirds, Paul Revere and the
Raiders, the Byrds, and the Jefferson Airplane. The only band
whose hem of their garment we
could never touch was the Yardbirds. They were just awesome!
And they were right at their
peak then, with Jeff Beck and
Jimmy Page on guitars. I wouldn’t say we stole the show from
any of those bands we played
with, but we did walk away feeling pretty worthy of what we
did. People always told us we
were better live than we were
on record. But we knew that
ourselves.”
The circumstances around
being the opening act for the
Yardbirds deserves some more
attention. On October 30, 1966,
Dick Clark’s Caravan of Stars
toured to Corpus Christi and at
the last minute Zakary Thaks
was booked as the opening act.
Among the performers in the
tour were, aside from the Yardbirds, Gary Lewis and the Playboys, Bobby Hebb, Sam the
Sham and the Pharaohs, and
Brian Hyland. This concert
proved significant because it
was the last time Beck and Page
of the Yardbirds ever performed
together again. The curious
combination of local musical
successes and bad national timing can be gleamed from
Gerniottis memories. “Although
Bad Girl remains my favorite …
by the time the record was released, it had run its course in
Texas…I remember going to
Carl’s house (Becker, the Thaks’
manager) and he showed me a
Billboard Magazine. He opened
it up and there was a white page
with a Mercury Record logo,
and a little hole right there in
the middle of the page and the
set up was, “guess who just
signed to Mercury Records?”
And there was a picture of me
in the little hole. It looked like
they signed Paul McCartney.
And you open it up and there’s
the Zakary Thaks from Corpus
Christi, Texas … I remember
Carl showing me that and it
kind of threw me, like if we got
ads like that, then why aren’t
we stars?”
At its peak Zakary Thaks was
made up of high school kids.
Since the band members were
all minors it took nearly six
months to get all the legal contracts signed and processed.
Given their early successes the
members of Thaks were under
pressure to practice, write new
songs, record and perform live
at any number of locations. As
it turned out, faced with all that
pressure, only Gerniottis graduated from high school.
Why did Zakary Thaks disband? They didn’t, immediately,
they went through some personnel changes with various individuals from the original group
coming and going. But in the
end they were simply young
kids who missed their big break
for an array of reasons. Zakary
Thaks lasted from February
1966 through August 1971.
There was a reunion of sorts in
1982, although Moore refused
to perform. In the periods when
he wasn’t with Zakary Thaks,
Gerniottis went on to sing in yet
another of the local Corpus
Christi bands, The Liberty Bells.
Gerniottis can be heard on Liberty Bell releases on the Back
Beat label such as Thoughts and
Visions, Reality is the Only Answer, and Naw, Naw, Naw. During this period Gerniottis also
composed music for another
Corpus Christi based group, the
Kubla Khan.
The music that Zakary Thaks
generated can be found on the
Internet, in various compilation
compact disks feature singles,
iPod downloads, and even redigitalized releases. In 2001, I
bought Form the Habit, a compilation of 15 of Zakary Thaks’s
songs released on the Beat
Rocket label. The popular hits
Bad Girl, I Need You, Face To
Face, and Mirror of Yesterday
are all on this re-release compact disc, which features extensive liner notes. It sounds great.
The appearance of this CD (as
well as the Zakary Thaks appearance on other compilation
discs) signals its enduring popularity. A number of interviews
with Gerniottis found that he
still sings and tours but unfortunately (none that I have yet
seen) offer anything specific
about the kind of music he is
now performing or even where
he can be expected to appear
next. It’s unknown how other
Greek-American or musicians of
Greek descent, such as Gerniottis, Alex Korner, Terry Papadinas
or those in Annabouboula and
Aphrodite’s Child, fit into the
overall spectrum of Greek music
in the Diaspora. Those who assiduously follow Greek culture
in the Diaspora know they exist
and their music is readily available. The rest is up to the Greek
Americans of the future to continue the research and decide
what constitutes their understandings of their artistic
brethren of the past.
[email protected]
They speak English, but Think Greek at St. Gregory’s Church
Continued from page 1
ipate in the Services. We encourage all attendees to open the Divine Liturgy Hymnal, which can
be found in the pews, and to
sing in worship and in praise for
the glory of God. Our organist
provides musical guidance in order that all may follow along
prayerfully.” He added that, “We
also have five cantors for the
Matins and during the Liturgy
they assist along with the people
and we have an organist that
leads the people and we all sing
everybody,” Father Bird said.
“In the Liturgy we use 90
percent English and 10 percent
Greek, in the Matins, 60 percent
and 40 percent Greek and some
times 50-50,” he said, adding
that, “Most of the time during
the week, because I celebrate
the fests the night before because the people cannot come
during the day they all work or
they go to school,” and he
added, “It works because most
of the times during the day it is
only me and maybe the cantor.”
Fr. Bird said, “Seventy-five percent or more are interfaith marriages. Most of the families are
interfaith” and he added, “Each
one is unique.” Asked if they
join the Orthodox Church, he
said, “Many of them do; many
of the spouses eventually become Orthodox, and some of
them do not.” To the question
how do they feel about the cultural identity, do they feel comfortable, Fr. Bird said, “Yes they
do, that is another reason they
join.” He also said, “Even that
we are what we are our main
culture is Greek, even thought
it doesn’t t appear that way because of the language and all
that, the culture is still Greek,”
and he added, “So I think the
non-Orthodox or not Greek
spouse I think that is an attraction to them too; it is not just
the faith, but also the ethnic
TNH
The parish of St. Gregory the Theologian has been blessed with many young children, who are
the promise of the future of the parish.
portion of it too.”
Fr. Bird is a convert himself
to Orthodoxy and to Hellenism.
He speaks Greek very well. “I
am from Nebraska and I used
to be around with Greek people
since I was 16 years of age. I
met my presbytera who is from
Greece. I use to go to church
with her, which was all in Greek
at that time. I knew that God
was with these people; there
was something special about the
church that I couldn’t explain,”
he said. He also said, “We got
married when we were 20. I
loved her background and her
faith even thought I did not understand it at the time; I felt a
tremendous spirituality at the
Greek-Orthodox Church regardless I was not able to understand
it.” What attracted him to
Church? “Just everything; the
moment I walked into the
church the whole experience
bombarded me in a most positive way; smells, chanting,
everything, it was like I was in
heaven.” He added that, “I did
not know at time that that I was
going to become a priest; I was
a licensed architect.” His wife
played a pivotal role in his conversion. Fr. Bird said, “She was
a catalyst, but she never pushed
me, ever. As a matter of fact she
was getting mad at me because
I was always asked her what is
the priest saying now? I became
Orthodox before we got married
we both were 20 years old.”
St. Gregory’s was established
in September of 1991, when
some 60 families requested the
formation of a parish to use primarily English in its Liturgy and
worship services in general.
They had belonged to St. Catherine’s parish in Quincy, which has
since moved to the nearby town
of Braintree in a newly constructed Byzantine-style edifice.
St. Gregory has come a long way
since that time. It has moved
from a small 50-seat chapel in
the town of Norwood to renting
warehouse space in Sharon to
its current location
“Today,” Fr. Bird said, “There
are 215 families that are part of
the St. Gregory family, and it is
our hope that this Mansfield site
will become spiritual home to
many others.” He added: “There
are another 50 or 60 potential
ones, as every church has that
who have never joined for some
reason, we are a church which
could easily be 300 families.”
He also stated that “we have
been given an incredible gift
from God: eight acres of land
and a 20,000-square foot building housing our spiritual, cultural, catechetical Orthodoxy.
This gift pervades us with praise
and thanksgiving.” Speaking
about the uniqueness of the
parish Fr. Bird, who has been
serving the parish for 16 years,
said: “It was established primarily for the English-speaking
faithful coming from a Greek
descent.” He added, “Predominantly 80 present of our parishioners are from a Greek descent.
Then we have a few Russians,
Albanians, Romanians, Slavic
People and also we have a few
families about half a dozen who
are completely converts. They
just discovered the church and
they wanted to become Orthodox.” He said, “Another characteristic at St. Gregory’s is that
we worship predominantly in
English; we do sing hymns in
Greek, but predominantly we
worship in English and that is
the way the parish was established” and he added we “we
still have a small group of immigrant Greeks.” And, he
added, “We have a lot of children in the parish because the
population of the parish is
young.”
Upon the completion of his
studies as an architect he found
employment in Phoenix, Arizona
and became actively involved at
the Holy Trinity Cathedral. He
started helping in the altar,
working with Fr. James Tavlaridis, the priest there at that time.
“He started to teach me chanting
and then the late Metropolitan
Anthony got to know me and we
started talking. Some day Fr.
James gave the book and he said
go out to the solea and start
chanting in Greek. Bishop Anthony asked if I would serve the
Church in a greater capacity, and
I said that yes it is something
that I would like to do.” Fr. Bird
said, “I started learning, chanting, always in Greek, I always
did things in Greek. I was ordained a deacon with lay profession for three years and then
some good individuals made it
possible for the family and me
to come to Boston in 1988 to enter the Seminary and in 1990 I
was ordained a priest.”
Speaking about the use of
the Greek in worship he said “I
do love our worship in Greek,
the language I think it is par excellence because the language,
worship and the theology everything goes hand in hand for so
many thousands of years. I really appreciate our worship in
the Greek language, the poetess
and the theology all that is
there.”
GREEK SHIPPING
8
THE NATIONAL HERALD, FEBRUARY 16-12, 2010
Omega Knows How to Navigate, and Carry Oil to World Markets
By Sylvia Klimaki
TNH Staff Writer
Of all the commodities carried by ships across the world,
the most important is oil, the
driving force in the economic
engines of all developed countries. It’s a formidable and competitive business but one of the
leaders is yet another Greek
company, Omega Navigation
Enterprises. Its head, Harris
Loukopoulos, says even the
troubled economic waters recently haven’t much slowed the
speed of his company. “The
transportation of refined petroleum products has shown recently a remarkable growth.
There has been a huge increase
in the transportation of products
against transportation of crude,
and this is due to lack of refineries in the consuming regionsthat is mainly the EU and USA.
As a result these regions are being forced to transfer the products from India, China, Indonesia and the Middle East where
the refineries are located,” said
Loukopoulos.
He knows what he’s talking
about. Loukopoulos has served
as the Executive Vice President,
Chief Operating Officer, General
Counsel and Director of ONE
since its inception in February
2005. Prior to joining the company, from 1996, Loukopoulos
was employed by Target Marine,
a Piraeus shipping company. He
has lectured on shipping law
and vessel sale & purchase contracts at the Institute of Chartered
Shipbrokers'
Greek
branch. He studied law at the
University of Thessaloniki, in
Greece and holds a Masters degree in Maritime law from the
University of Southampton,
England. Omega Navigation Enterprises Inc. (ONE) focuses on
seaborne transportation of refined petroleum products. ONE
shares are traded on the NASDAQ National Market under the
ticker symbol ONAV. The company owns and operates 11 high
specification double hull product tankers, with an average age
of less than 3.6 years and with
a combined cargo carrying capacity of 634,563 dwt. With the
addition of these vessels,
Omega's fleet will expand to 19
product tankers, with a total
deadweight
capacity
of
1,198,563 dwt.
Loukopoulos said he has to
stay ahead of developments in
the industry and knows its history and changes as well, particularly the intertwining of oil
supplies – and carrying them –
and their relation to the refining
business. “In the U.S., due to
government constraints they no
longer build refineries. The last
one was built back in 1977 and
those left had to shut down due
to price competition from countries in the Middle East or Asia.”
Loukopoulos said he believes
there will be a further increase
of transportation of refined oil
products. “Unfortunately, incidents usually work in favor of
transportation because there is
possible reduction in local production, however the demand
remains the same,” Loukopoulos
explained. “As a result, there is
an increase of imports of these
The familiar stack sign of Greece’s Omega Navigation Enterprises (ONE) is aptly named as the company is one of the most
successful in the world in the field of delivering oil via tankers,
and says it’s one of the safest.
products from Asia or the Middle East in order to meet the domestic demand.”
“According to a two-year-old
study, if you were to transport
from Venezuela 100,000 barrels
a day to meet the incremental
demand in the US, then you
would need about three to four
ships. If you were to transport
that from the Middle East, you
would need 14-15 ships.” So the
oil spill in the Gulf of Mexico
“creates bigger demand for
more ships, longer hull routes
and creates bigger transportation benefit,” he said. According
to Loukopoulos, it will have an
enormous effect on security regulations. “There have been long
discussions on what is going to
be the new regime in respect of
limitation of liability and how
the insurance companies will be
able to cope or not with these
limitations; Omega Navigation
complies with all regulations,
therefore we are confident that
no matter how big the change
in regulations will be, it will not
have any effect on our company,” he added. What scares
him the most, he noted, is the
predominance of what he said
is a “misconception that every
ship is a potential oil spill and
that any given moment a ship
could create a big ecological disaster. This idea is erroneous and
should be avoided since there is
no other economic way of transporting oil.”
Loukoupolos said, “Shipping
traditionally has been a private
business, a capital intensive
business, and shipping people
have been low profile in the way
they conduct their business (…
) As a company we had to
change this philosophy in the
sense that we became public
and we had to combine with the
original traditional philosophy
of working as a shipping company while acting at the same
time as a public company. We
had to create a corporate structure and work as a corporate
entity. Being a public company
it is not easy to combine the immediate decision-making that
shipping requires. Sometimes
we get restrained by being a
public company and we try to
combine those two elements
and not be carried along by the
demands of actions that would
impede the overall logic of a
shipping company. We can live
inside the public markets but we
need to ensure that we run our
business the way we have to as
a shipping company.”
As for the role of the Greek
government in overseeing its
most important industry next to
tourism, Loukopoulos said he
thinks that it should let the industry run as it has the last 3040 years with the various incentives the Greek government has
given. Shipping companies offer
employment
and
foreign
money. “The government
should generate good crews
through education, send people
to the sea, and upgrade universities, The Greek Shipowners
Association has done a big campaign. Young people should explore the job opportunities offered in the maritime world, the
wages and the benefits that this
job offers. I could say the Greek
government should cooperate
more closely with the Greek
Shipowners Association.” In
that, he’s in agreement with virtually everyone else in the business.
Everything’s Coming Up Gold for Goldenport Holdings’ Ventures
By Sylvia Klimaki
TNH Staff Writer
With more than 60,000 shipping companies worldwide, it’s
hard to stand out, but Greece’s
Goldenport Holdings has managed to parlay success from a
savvy blend of commitment to
clients and reconfiguring its vessels to service niche trades,
sometimes overlooked in an industry based on size and volume. Goldenport’s vision, the
company says, “is to achieve
sustainable growth in a volatile
industry, gradually becoming
one of the leaders in marine
transportation especially in the
containers and bulk carriers segments," and it has become indeed. It is an international shipping company that owns and
operates a fleet of 25 container
and dry bulk vessels that transport cargo worldwide. The fleet
consists of 12 container vessels
and 13 dry bulk carriers.
Goldenport said it has managed to build strong, reliable relationships with a number of
first class charterers and worldwide clients both in the container and dry-bulk fleet sectors.
Its performance standards have
given the ability to the company
to grow its fleet steadily, and ensure that every new addition is
accompanied by long-term employment opportunities in the
market, and it emphasizes both
flexibility and reliability in its
service while being committed
to environmentally sound corporate policies, it said.
Although it is a public listed
company, it belongs 62% to
Dragnis family – Capt. Paris
Dragnis and his son, the Commerical Director of Goldenport,
John Dragnis, who told The National Herald, “Goldenport is
part of a larger group, which
also owns seven product
tankers, an affiliated company,
called Ocean Gold Tankers and
a few other vessels privately
owned.” Goldenport recently
announced that it will acquire
three vessels, after having raised
new capital - maybe not a significant amount of money - but
it was still a significant move for
the London market, and it was
a successful raise in terms that
99% of existing shareholders
followed the rights, the offering
was covered by the first three
days, so by the time it was announced it was covered.
Dragnis was appointed as
the Commercial Director of the
Company when he began working with it. He has been with
the company for five years now,
and has also been involved in
setting up and managing a
yachting management and
chartering business. He holds a
degree in Business Administration and a Masters degree in
Shipping Trade and Finance
from City Business School (City
University) London. Dragnis is
confident the company’s compass is going in the right direction. Goldenport “has a good
exposure on drybulk,” Dragnis
said. “We are well positioned
for the upside but we are also
well positioned for the downside.”
As for the containers’ market,
it has undergone a very strong
correction recently, he said.
“The market had the worst crisis
since the creation of the containers industry, but for us it was
obvious that no matter what,
there is no other way of transporting these goods, and sooner
or later the market was due to
rebound” Dragnis said. “After
two years of no new building
orders in the containers, the idle
fleet was below 2% of the world
fleet that is 1% which is usually
ships that are technically problematic, so basically there is
zero lay up to alleviate a very
strong market demand from the
line up companies. So it is obvious that containers industry is
on the uprise.”
He added: “The market since
Goldenport’s Commercial Director John Dragnis has put his
company in an enviable position in a highly-competitive business, strengthening Greece’s role too.
our last acquisition which was
four months ago has moved up
40% on the prices of the ships
but is still well below of historical averages because the correction was so low that we had got-
ten to a level where almost a
10-15 year old ship was worth
its scrap value (…) We like second hand because the company
is focused on forward new
building deliveries because we
feel that we currently have
available contracts where we
can get into so our customers
demand certain service at this
moment and not maybe in two
to three years from if we order
new ships.”
LOOKING FOR AN EDGE
Goldenport says it doesn’t sit
on its laurels and is always looking to position itself, and Dragnis said, “Right now the metrics
are in favor of New York City,
liquidity is better, the evaluations are better, major investment banks in New York City
have a shipping department
with a big action team.” Goldenport Holdings having a good
record, it would be very easy to
migrate to NYC and “we had
been asked many times to do
so” Dragnis said. However Goldenport Holdings Inc was admitted in the Official List and
started trading on the London
Stock Exchange in 2006
(LSE:GPRT). The initial offer
provided to the company an
overall of $115.5 million. Goldenport remains the only shipping company listed in main
market and as Dragnis explained, “We are happy with this
listing and well committed to
main market.”
Dragnis said financing has
not been a problem. “For our
company it was never an issue,
ok spreads have increased we
have less than a hundred base
points on the spreads and it is
Goldenport Picks Up Zodiac Boxship
Among the acquisitions of
Goldenport Holdings is a 19year-old sub-panamax container vessel from the Zodiac
Maritime Agencies fleet. The
company signed an agreement
to purchase the 1991-built
Grand Vision, which has a capacity of 2,986 teu, for $6.8m,
it said. “We are pleased to take
advantage of current market
conditions in the container market and add a secondhand container vessel to our fleet at an
attractive acquisition price,”
said Goldenport Chief Executive
Paris Dragnis.
He said the move “strengthens our position in our preferred segment of the container
market, thus enhancing the potential returns we can achieve
with our container fleet. Goldenport said it intended initially
funding the acquisition out of
cash reserves, but was already
talking with bankers to secure
finance for “at least half of the
vessel's value.” Grand Vision
will become the 11th boxship
in the Goldenport fleet, including one 2,500 teu newbuilding
on order for 2011. That follows
the exchange of one other container vessel order for a postpanamax dry bulk carrier,
which the company announced
recently.
Company executives underlined to Lloyd’s List that the
switch to a bulker did not mean
Goldenport had lost interest in
securing more container vessels.
(www.turkishmaritime.com.tr).
still pretty good. We have a rule
in this company, in every initial
finance we never exceed 65%
of the acquisition so this is similar to the current rules of the
banks. However, Greek banks
have become uncompetitive
given the international arena for
financing, however financing is
still available.”
KUDOS TOO
He disagrees with some of
his counterparts about the role
of the Greek government. “The
government is doing what it is
supposed to do: leaving shipping independent and all countries in the European Union do
the same things with a small exception of Germany that had indirect subsidies into shipping
through the KG system. After
the crisis the KG system collapsed so currently the Greeks
are on the upside on the containers. Some tonnage is flowing out of the German ownership
and
is
going
to
Scandinavian nations, Chinese
and Greeks. The Greek government is doing what it has always
done and this is why shipping
is so successful in this country”.
Dragnis says, “It is well known
that Greeks who live abroad always do well. Greeks are hard
workers and open-minded people and can adjust in any kind
of environment. The system
here in Greece does not allow
people who are of this nature
to flourish and the public sector
- having more than one million
families- obviously took a very
large part of the Greek workforce and they did not allow
them to compete and grow entrepreneurial spirit.”
He said the company has designed a strategy to protect itself
against downfalls. “Goldenport
possesses a number of strengths
in the shipping industry such as
an experienced management
team with a proven track
record; we have long-term,
high-quality customer relationships; we operate vessels in two
major sectors of the shipping industry; and a strong balance
sheet. Our primary objective is
to manage our fleet in a manner
that allows us to maintain profitability across the shipping cycle and thus to maximize returns for our shareholders.” So
far, that’s what they’ve done.
Left: Polyar Tankers is a commercial ship management company based in Norway that manages
oil tankers controlled by the Greek ship-owner Polys Haji-Ioannou. The fleet consists of Aframax
and Panamax tankers. Top: The oil tanker Megalonissos was built in 2004 by Hyundai Heavy
Industries at Ulsan, South Korea, for Greek owners.
THE NATIONAL HERALD, FEBRUARY 6-12, 2010
GREEK SHIPPING
9
Capital Link Connects Greek Shipping Industry to American Investors
By Sylvia Klimaki
TNH Staff Writer
In the vast and diverse world
of shipping around the world –
still dominated by Greek companies – it’s sometimes difficult
to keep track of who’s doing
what and how that affects the
industry. That’s where the New
York City-based Capital Link
comes in. It provides investor
relations services to an extensive
roster of corporations worldwide and serves as an investor
and media relations services
agency for the majority of Greek
Shipping companies listed on
the New York Stock Exchange
(NYSE.) Nicolas Bornozis,
founder and President of the influential company, discussed his
business and the industry in an
interview with The National
Herald.
TNH: Now that the Posidonia 2010 has come to an end
what is your sentiment? Do you
think this year’s Posidonia, despite the international and domestic crisis, was a success?
Nicolas Bornozis: Posidonia
was a success on many levels.
First, for Greece, the turnout for
Posidonia was tremendous,
which certainly was a welcome
result for the local economy. For
the shipping industry, Greek
shipping in particular, I found a
renewed optimism when attending the various meetings and
speaking with ship owners, as
well as industry players. Please
bear in mind that even though
shipping is a big contributor to
the Greek economy, its development does not depend on the
“I am very proud of my
Greek heritage, and my
roots with Greece”
domestic economy but on the
global energy and commodity
markets, the global economy.
And, I think the general consensus is that, while we’re not completely out of the woods yet, as
far as a recovery towards the
peak of the market, we have
seen the worst the global economy has to offer. The savviest
players in shipping have, and
will continue to adapt to what
the marketplace has to offer,
and will thrive in the end.
TNH: A critical element in
the success of the Greek maritime cluster is the development
locally of ship finance services.
How does Capital Link contribute towards this end?
NB: Capital Link serves as
the link between shipping companies, bankers, financiers, analysts and investors. With our
local presence in Athens and offices in London and New York,
we strive to bring closer the
shipping, banking and investment communities. Capital Link,
with the industry experts we
employ, along with the relationships we have developed over
the years, forge bonds between
ship owners, investors and financiers. We have worked ex-
tremely hard towards developing an extensive network of contacts (to be more accurate, of
relationships) and when a situation arises, we can bring together the proper parties to facilitate a transaction. Over the
years I’ve found that since the
population of shipping industry
participants is smaller than most
others, this group is a tight-knit
group, and so, there remains a
very high barrier of entry. In this
regard, an established firm, such
as Capital Link, can help dealmakers come together when oftentimes a meeting would have
never occurred.
TNH: With the international
recession, even big companies
are cutting down on expenses.
How has that affected your business and what are the objectives
of your company for the coming
years?
NB: In today’s markets access
to capital is a distinct competitive advantage and Capital Link
focuses exactly on enabling
shipping companies to access
capital sources, either in banking or the capital markets. Also
for publicly traded companies a
comprehensive investor relations program is of critical importance towards achieving
long-term enhancement of
shareholder value and thereby
facilitate further capital raisings.
It is in these very tumultuous
times when a company needs to
enhance its visibility, and communicate to both its current and
potential shareholders. The U.S.
capital markets are vast, complex and unforgiving. So, companies that do not adhere to
market standards in terms of investor communications risk to
become marginalized, which
would ultimately affect their
overall business prospects. In
this context, Capital Link has
made a strategic commitment
to shipping and we have managed to become the largest
provider of Investor Relations
services to shipping companies.
We are in the midst of analyst
and investor activity and we
have built a very effective marketing platform. So, we can provide our clients with unique synergies and benefits and on this
basis we have been able to continue growing our business and
we have every reason to believe
that we will continue to grow
along these lines.
TNH: Capital Link manages
investor and media relations in
New York City and London.
Have you ever considered expanding to other markets such
as China - where Capital Link,
as a service provider - would
help Greek Shipping companies
expand?
NB: Capital Link assists shipping companies to reach out to
investors, financiers and the financial and trade media in the
United States and Europe. We
do not get involved with the
business development process
of our clients. The U.S. markets
are, by the way, the preferred
capital raising destination for
shipping companies from all
Under Nicholas Bornozis, Capital Link has helped provide crucial investor relations services to the Greek shipping industry.
over the world, and here we
have the largest group of shipping listed companies, the
largest analyst and investor
base. So reaching out to China,
would be to assist Chinese shipping companies get access to
U.S. investors, and this we are
in the process of doing. China,
as well as the rest of the Asian
continent, is certainly a market
that has untapped potential.
We’ve also noticed the spectacular growth in South America,
especially Brazil, as well as Australia, so there really is no shortage of candidates for future expansion. For Capital Link, we
are always looking at ways to
grow the business, and China
does indeed remain a leading
candidate for making a presence
for our services.
TNH: Are you optimistic
about growth for the shipping
industry?
NB: The maritime shipping
industry is essential to international trade as it is a practical
and cost-effective means of
transporting large volumes of
commodities. Shipping is the
lifeline of global trade. Just to
put things in perspective, world
trade is about $14 trillion annually with 90% carried by the
shipping industry, contributing
$380 billion in freight rates to
the global economy. So, as the
global economy gets back to a
normalized growth trend, shipping will grow with it as well.
Also, Wall Street looks at shipping as a proxy for the global
economic recovery, and stock
market valuations should also
improve as the global economy
and the shipping markets stabilize and get back on a growth
track.
TNH: Which area of shipping
do you think is in the best position to take advantage of the
current economic environment?
NB: Frankly, each of the
three major sectors of shipping
(dry bulk, tanker, containers)
has its own investment merits.
That being said, to experience a
full recovery within the global
economy, we need all three sectors to be healthy. The iron ore
needs to be delivered to make
steel to build the factory, the oil
needs to be delivered to power
the factory and to fuel cars, and
the finished good needs to be
delivered to the store for sale.
So, at the end of the day, the
ideal will be for all three sectors
These countries are building
their economies and therefore
demand is expected to continue
robust. But here are other
emerging economies as well,
such as Brazil, which can also
add to the demand. Tanker shipping depends on the global energy markets, and there the demand for oil and oil products
comes both from the emerging/developing economies and
the developed world. As developing countries continue to
build their economies and the
developed world returns to a
stable growth pattern, demand
for shipping should also grow.
Finally, in the container market,
which transports mainly finished goods from the developing
exporting economies to the developed world, as the developed
world resumes its growth, so
will shipping.
TNH: Is there room in your
philosophy of management for
being a Greek company?
NB: While our headquarters
are located in New York City, we
do maintain a significant portion
of our operations in Athens and
London. We do not approach our
business based on ethnic lines or
geographic boundaries. We compete in major financial centers
such as London and New York,
and the business we compete for
is global. So, our approach is driven by what makes the financial
and capital markets tick, and the
factors that determine failure and
success in these markets. This
does not mean that we do not
appreciate and respect our Greek
heritage. Personally, I am very
proud of my Greek heritage, and
my roots with Greece. And, as a
company, we have made a strategic commitment, in another part
of our business, to do our best to
Despite the hard times brought on by the Recession of 2008
whose effects are still being felt, even in the shipping industry,
the port of Piraeus remains critically important.
to perform with consistent
growth.
NB: Each sector will experience recovery at different points
of time. Dry bulk shipping depends on the demand for core
commodities such as iron ore,
coal and grain, and the locomotive here is the Far East, with
China and India at the forefront.
promote Greece to the global investment community. And also,
since 1997, we have established
an office in Athens, which enables us to provide to our Greek
clients local support but also a
globally coordinated investor outreach program.
TNH: How does Capital Link
help investors from all over the
world invest in the Greek Market?
NB: As I mentioned, a separate part of our business focuses
on promoting Greece to the
global investment community.
Since 1995, when our company
was founded, we have a long
track record of commitment and
results in this area. I believe that
Capital Link has built one of the
most extensive and effective
networks for the promotion of
Greek Listed Companies targeting international investors. For
those companies trading on the
Athens Exchange in particular,
we host live webinars over the
Internet, as well as investor forums in New York City, London
and Athens, to allow these companies the platform to present
their investment thesis to an investor audience. In addition to
this effort, we introduce the
companies to potential investors, media outlets, and
other related parties, and bring
them together in an environment they wouldn’t have been
exposed to. We also help companies refine their investment
thesis to communicate most effectively with investors, which
often times is the leading factor
in determining whether to make
an investment. But we have also
developed broader initiatives
promoting Greece as a whole.
Indicative events of these initiatives are the decisive contribution of Capital Link to the signing
of
the
Cooperation
Memorandum between the New
York and Athens Stock Exchanges in 2002, the organization of events for the OTE listing
on the New York Stock Exchange
in 1998, as well as the organization of the first visit by the Chairman of the New York Stock Exchange to Athens in 2001. The
Annual Capital Link Forum on
Investing in Greece which takes
place in New York every year,
and is already in its 12th year,
has been established as the most
credible Forum for briefing US
investors on the progress, developments and potential of the
Greek economy, the stock market
and Greek listed companies.
And, by the way, in July 2010
we organized, with huge success,
two webinars updating the
global investment community on
the progress of the Greek economy in the light of the recent reforms. Capital Link’s Greek portal
(www.capitallinkgreece.com), in
operation since 1997, has been
established as a main source of
information among international
investors on the Greek stock
market and Listed Companies.
Finally, Capital Link organizes
the Greek IR Awards, which aim
to identify and recognize those
Executives and Companies who
adhere to high standards of Corporate Governance, financial disclosure and Investor Relations
(www.irawards.gr - www.greekirawards.com). And, we are very
proud, that over the years, we
have organized presentations to
the U.S. investment community
for the Fin. Mins. of Bulgaria
France, Greece and Portugal.
Diamantidis Wants More Greek Ships Showing The Flag of Greece
By Sylvia Klimaki
TNH Staff Writer
Greece’s Minister of Maritime
Affairs, Islands, and Fisheries
Ioannis Diamantidis has a vision
for Greece’s star shipping industry: that it become more Greek
instead of flying flags-of-convenience for other countries, especially since for all its vaunted
status it doesn’t contribute one
euro in tax monies for the cashstrapped country. In an interview with The National Herald,
Diamantidis, who was born in
Piraeus in 1948 and still lives
there, outlined his hopes for the
shipping industry. Ηis father,
Dimitris Diamantidis, a was
member of the Greek Parliament
for decades. Ioannis was PA-
SOK’s Supervisor in the Mercantile Marine sector. He has served
as the President of the Economic
Affairs of the Parliament and is
President of the Friendship
Committee with countries of
Latin America and Central
America.
TNH: What is your vision for
the Greek shipping?
Minister: As you know, the
Greek shipping industry is a
global super-power and in
Greece is regarded as the country’s heavy industry. My vision
is to bring more ships under the
Greek flag and to highlight the
country’s extraordinary geography, that of many islands in order to attract foreign investment
and boost development. Greece
is a maritime country with many
islands and beautiful beaches
and people, with great fishing
also, and has perhaps one of the
most attractive tourist packages
all year round. During these difficult times shipping is very important for the progress of our
country.
TNH: What policies are
needed to attract more ships under the Greek flag?
Minister: I have already met
with the Union of Greek Ship
Owners and with all the constituencies that will allow us to
create the appropriate investment environment. Flags of
Convenience may seem a good
investment at some point but I
believe very soon the Greek flag
would be a very profitable investment for ship owners. I be-
Greece’s Minister of Maritime Affairs, Islands, and Fisheries Ioannis Diamantidis.
lieve strongly Greeks love their
homeland and are willing to
support it through these hard
times. Therefore the Greek flag
is the best representative of their
interests.
TNH: Many governments
have occasionally expressed the
vision to make the port of Piraeus the shipping world’s financial center. All these years, why
do you think this goal has not
been achieved? What are the
current government’s objectives
towards this end?
Minister: Piraeus is the
largest port in Europe and the
third largest in the world in
terms of passenger traffic, which
makes it the biggest commercial
and financial center of Greece,
and why not of global shipping.
Today the government has developed a very large project to
redevelop the port of Piraeus
and all of Greece’s ports. Since
I resumed office I announced
from the very first moment the
so-called Port Kallikrates, based on the Kallikrates project
that merged and reformed
Greece’s municipalities - that
will revitalize our islands and
port cities. I think it’s time for
Piraeus to become an international shipping center, as
China’s investment through
Cosco shows.
TNH: Do you think that shipping is a field where young people should look for a job? Is
there need of a Greek crew?
Minister: Absolutely. On top
of that, very soon Greek maritime education will be upgraded and will be equal with
foreign institutions. It is true
that in the last few years we
were left behind. Ships under
the Greek flag are in need of
worthy sailors that will have the
top education, something our
schools will be in a position to
offer very soon.
TNH: Do you plan to estab-
lish closer cooperation with the
Union of Greek Ship Owners in
order to promote issues surrounding Greek shipping?
Minister: That is certain. I
have already met with the
Union of Greek Ship Owners
and I believe our cooperation
will be very close for the benefit
of our country and Greek shipping. Ship owners are the great
strength of Greece’s shipping industry worldwide. And we want
to become even stronger.
[email protected]
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OBITUARIES CLASSIFIEDS
10
THE NATIONAL HERALD, FEBRUARY 5-11, 2011
DEATHS
n ANDREWS, ERIFILY
HARTFORD, Conn. - The Hartford Courant reported that Erifily
Andrews, 103, passed away
peacefully on January 26. She
was born in Erresos, Lesvos,
Greece before immigrating to the
United States in 1933. She was
a member of St. George Greek
Orthodox Cathedral since 1933.
Erifily was also a very active
member of the Ladies of Philoptochos Society. Prior to her retirement, she worked with her
husband in their restaurant business for many years. She was an
avid gardener and she loved to
crochet and knit. She was well
known for her culinary expertise
and had a great love for her family. She is survived by her children, Philip (Sylvia) Andrews
and Mena (Joanne) Andrews;
her
grandchildren,
Leah
(Michael) Naughton, Erah Andrews, Gary (Melanie) Andrews,
Irene (Thomas) Pia, Gabriel
(Lora) Andrews, Susan (Jon)
Brodeur and Patricia Hartunian;
15 great-grandchildren; and a
brother and sister in Greece. Funeral services were held in St.
George Greek Orthodox Cathedral with the Rev. George F. Zugravu officiating. In lieu of flowers, contributions in her memory
may be made to: St. George
Greek Orthodox Cathedral, 433
Fairfield Ave. Hartford, CT
06114. To share a memory with
the family, please visit, www.dillonbaxter.com.
Theodore, Harry (Stella) Bobotis
and Maria (Beach) Foster; her
loving grandchildren, A.J.
(Nancy)
Theodore,
Jenna
(Thomas) Sinclair, Bo (Angie)
Theodore, G.H. Bobotis, Alex
Bobotis, Matthew Foster, Joseph
Foster and Todd Schwartz; her
great-grandchildren, Charlie,
William and Ellie and John
Theodore. Visitation and a Trisagion prayer service were held at
the Mackey Mortuary officiated
by Father Tom Pistolis. Funeral
services were held at Saint
George Greek Orthodox Cathedral. In lieu of flowers, memorials may be made to Saint George
Greek Orthodox Cathedral, 406
N. Academy Street, Greenville, SC
29601. Online condolences may
be expressed by visiting:
www.mackeymortuary.com.
n DEMETRIOUS, KATINA
CHARLOTTE, N.C. – The Charlotte Observer reported that
Katina Demetrious, 88, passed
away peacefully on January 17.
Katina was born in Karpenisi,
Evrytania, Greece on October 3,
1922, the daughter of Maria and
Paul Papaioannou. She graduated
from the public schools in
Karpenisi and attended the University of Athens. In 1946, she
immigrated to the United States
with her uncle, John Liapis. She
met her future husband, Chris,
in Virginia and they were married
on January 26, 1947. They settled in Darlington where Katina
immersed herself in her family,
community and church. In 1950,
Katina established The Dairy Bar,
a Darlington landmark in which
the Demetrious family still owns
and operates. For over twentyfive years she and her husband
managed the Dairy Bar and their
other restaurant, the Carolina
Lunch. Katina and her husband
were the founding members of
the Transfiguration Greek Orthodox Church in Florence, where
Katina was also an active member of the Ladies Philoptochos
Society; she also taught the
church's Greek School for several
years. In 1984, Katina organized
and served as chairman of the
church's Iconography Committee.
Mrs. Demetrious was also an
honorary chair of the committee
to restore the Carnegie Library.
For over forty years she was an
active member of the Kalmia
Study Garden Club in Darlington.
Katina lived an exceptional life
filled with the love of her family,
her friends, her church and her
hometown, Darlington. She is
survived by her daughters, Mary
and Paula (Jack) Lawson; her
granddaughters, Mary Katherine
Lawson, Charlotte (Kevin) Culotta and Jacqueline Christina;
her siblings, Electra (Bill)
Avramapoulos, Kifissia, and Haralambos (Chrisoula) Papaioannou; and her nieces and
nephews, Georgia Hamberis,
Iraklis (Irene) Avramopoulos,
Pavlos (Nika) Papaioannou and
Mary (Panayioti) Spirou. Funeral
services were held at the Transfiguration of our Saviour Greek
Orthodox Church with Father
Athanasios Haros officiating.
Memorials may be made to the
Transfiguration of our Savior
Greek Orthodox Church Iconography Fund, 2990 S. Cashua
Street, Florence, SC; Darlington
Museum of History and Fine Arts,
c/o City of Darlington, PO Box
57, Darlington, SC 29540; Darlington Rescue Squad, 107
Sycamore Street, Darlington, SC
29532; or Susan Johnson Memorial Scholarship Fund, c/o Darlington Presbyterian church, 311
Pearl Street, Darlington, SC
29532. A guestbook is available
online at: www.belkfuneralhome.com.
n BATAS, MICHAEL
CALGARY, Canada - The Calgary
Herald reported that Michael
Batas, 70, passed away peacefully
on January 25. Michael was born
in Pedoulas, Cyprus on April 24,
1940 and immigrated to Australia
in 1963. There he met his
beloved wife Helen and in 1976
they moved to Canada. Michael
put his family before everything
and everyone. He was happiest
when he was surrounded by his
children. He loved telling stories
and always had a captivated audience, with an infectious smile
and distinctive laugh. Michael's
love for cooking and entertaining
is what made his restaurant a success. Many of his customers became some of his most cherished
friends. He would go out of his
way to help others and never took
no for an answer. Michael was
truly larger than life. He is survived by his loving wife, Helen;
his children, John (Anita) and
Stacey (Dave); his grandchildren,
Michael, Kahlia, Evangeline, Aricia, Zander, Zoe and Georgia; his
siblings, Demos (Christine),
Maroula, Christalla (Costas), Niki
(Andreas) and Demetra (Costas);
as well as, many nieces and
nephews from Calgary, Cyprus,
Australia, Greece and England.
Visitation, a Trisagion prayer service and funeral services were
held at St. Demetrios Greek Orthodox Church with the Very Rev.
Dimitrios Rougas officiating. The
family would like to thank the
doctors and staff at the Agape
Hospice, Foothills Medical Center
and the Rockyview General Hospital for their care and compassion. Photos, memories and condolences may be shared with
Michael's family at: www.evanjstrong.com. In lieu of flowers,
memorial tributes may be made
to the Alberta Children's Hospital
Foundation, 2888 Shaganappi
Trail N.W., Calgary, Alberta T3B
6A8 or the Alberta Cancer Foundation, c/o Tom Baker Cancer
Centre, 1331 - 29 Street N.W.,
Calgary, Alberta T2N 4N2.
n COSTAS, DENO
CHICAGO, Ill. – The Chicago Tribune reported that Deno M.
Costas, 80, passed away peacefully on January 17. He was predeceased by his parents, Emmanuel
and
Maria
Konstantoudakis and his brother,
Angelo. He is survived by his sister, Helen Costas; and numerous
nieces, nephews and cousins here
and in Greece. Visitation and funeral services were held at St.
John the Baptist Greek Orthodox
Church. Donations in his memory may be made to St. John
Guardian Angel Orthodox Day
School, 2350 Dempster St., Des
Plaines, IL 60016 or Midwest Palliative and Hospice Care Center,
2050 Claire Ct., Glenview, IL
60025. For further information,
call the Kelley & Spalding Funeral
Home at (847) 831-4260 or visit:
www.kelleyspaldingfuneralhome.com.
n BOBOTIS, KATINA
GREENVILLE, S.C. - The
Greenville News reported that
Katina Laskaris Bobotis, 86,
passed away peacefully on January 30. Katina was born in Sparta,
Greece in 1924 and later on immigrated to the United States.
She was a devoted member of
Saint George Greek Orthodox
Cathedral. Throughout recent
years of health problems, her faith
and her joy in life remained steadfast and this will forevermore
serve as an inspiration to all who
knew and loved her. She is survived by her children, Connie
(George) Schwartz, Patricia
n DOvAS, CATHERINA
CHERRY HILL, NJ - The CourierPost reported that Catherina
Dovas, 101, passed away peacefully on January 19. She is survived by her devoted son, Peter
(Betty); her grandchildren, Lisasophia (fiancé Craig) Vines, Dimitri, Nicholas (Jeanette), Christopher (Tracey) and Alexis; her
great-grandchildren, Phaedra and
Alexander Dovas; her siblings,
Xristo, Kosta and Eleni; and by
many nieces, nephews and
cousins in the United States,
Greece, Australia and Switzerland. She was born in New York
City in 1909 and accompanied
her late parents, Athanasios and
Elisavet Kriaris, to Greece. Catherina returned back to the United
States in 1929. She was employed by the Singer Company
and she modeled for Vogue magazine. From 1930- 1960, she was
employed as a free-lance dress
designer for a number of companies, including, Sax 5th Avenue,
Bergdorf Goodman, Bonwit-Teller
and the Blum Store. In 1949, she
was commissioned by the late
Queen Fredericka of Greece to
create original gowns. In the
1950's, she patented and established her own hosiery line for
Berkshire Industries. In addition
to designing clothing, she was an
active member of ASCAP and
composed many melodies, musical scores and lyrics and worked
with
Warner
Brother
composer/arranger, Richie Rome
& the NYCE Brother's of Camden.
Visitation and funeral services
were held at St. Thomas Greek
Orthodox Church, 615 Mercer St.,
Cherry Hill, NJ 08002. In lieu of
flowers, donations may be made
in Sophia's memory to St. Thomas
Greek Orthodox Senior Citizen
Building Fund, 615 Mercer St.,
Cherry Hill, NJ 08002.
n GREGOR, ALKMINI
MIAMI, Fl. – The Miami Herald
reported that Alkimini Gregor,
57, passed away peacefully on
January 11 in Miami. She was
born in Domianos, Karpenissi,
Greece on April 13, 1953 and
was raised in Lexington, Kentucky. She graduated from University of Kentucky with a Business Administration degree, as
well as, a teaching certificate
from the State of Kentucky. During her distinguished career, she
held positions as a Teacher, HR
Administrator, Executive Assistant, Legal Administrator for various law firms and medical
groups both in Lexington and Miami until she became Executive
Vice President of Aero Kool Corporation in Miami. A breast cancer survivor, she generously supported many charitable efforts for
Papanicolaou Cancer Research
and other cancer organizations.
She is survived by her husband,
Theodore; her sons, Gerasimos
(Gerry) and Christopher; her
brothers, John and Nick; her sisters, Nea, Pam, Maria and Elpida;
and numerous nieces and
nephews. Visitation and Trisagion
services were held at the Van Orsdel Funeral Chapel. Funeral services were held at the St. Sophia
Greek Orthodox Cathedral. A loving and giving soul, she touched
and enriched the lives of so many.
She will truly be missed by all
who knew her. In lieu of flowers,
donations can be sent in memory
to St. Sophia Greek Orthodox
Cathedral or to the Papanicolaou
Cancer Research.
n KONSTANTINIDES,
SOTIRIOS
DAYTONA, Fl - The Daytona
Beach News-Journal reported
that Sotirios Konstantinides, 88,
passed away peacefully on January 29. He was born in Symi, Dodecanese, Greece on July 21,
1922. At the age of sixteen, he
went to Bengazi, North Africa to
attend school and while he was
there World War II started. He enlisted in the British Army and was
sent to Alexandria, Egypt to attend Scotland Yard School. At the
age of eighteen, he was given the
option to join the Greek Navy attached to the British Navy. He
graduated from the Naval Academy in Piraeus, served in the
Royal Greek Navy with the Free
Greeks in World War II and was
presented with the Medal of
Honor by King George of Greece.
He also served with the Australian
Army and served Scotland Yard
in Egypt as an interpreter. He also
served on the Greek destroyer
"Kanaris" and received several
decorations. He received a medal
for saving the lives of 36 American soldiers who were invading
Sicily by being flown in on gliders.
Unfortunately, some of the gliders
fell into the sea and he and several members of his crew scurried
about to save the men in the gliders. He was a past president of
the Parish Council of Saint
Demetrios. He remained proud of
his heritage throughout his life.
He was elevated as Archon Orfanotrofos in 1998 by His Eminence Archbishop Spyridon at
Holy Trinity Cathedral in New
York. He was a founder of
Archangel Michael Greek Orthodox Church in Campbell, Ohio.
He dedicated 40 years of service
to Saint Demetrios Church in
Daytona Beach as a council member and president and was bestowed the honor of President
Emeritus. He was a long time supporter of the Ladies Philoptochos
Society and served on the Metropolis Board under Bishop John
of Amorion. As a member of the
American Hellenic Educational
Progressive Association, he was
founder and served as its Chapter
president. In addition, he was a
member of the Masonic Lodge,
Bahia Shrine, pillar of the United
Way, donor to the Association of
Retarded Citizens and provided
scholarships to Bethune-Cookman University and Daytona
State College. He was predeceased by his beloved wife Angeline. He is survived by his chil-
dren, Renée Constant-Gahagan
and James (Marina) Constant;
and his grandchildren, Billy, Debbie, Sammy, Sotiri, Kosta and
Martha. Visitation and a Trisagion
prayer service were held at the
Lohman Funeral Home. Funeral
services were held at Saint
Demetrios Greek Orthodox
Church with Bishop Dimitrios of
Xanthos officiating along with Fr.
Joseph Samaan, Fr. George Papadeas, Fr. Michael Byars and Fr.
Dean Photos. Donations may be
made in Constant's memory to:
Saint Demetrios Greek Orthodox
Church, 129 N. Halifax Avenue,
Daytona Beach, FL 32118 or
Archangel Michael Greek Orthodox Church, 401 12th Street,
Campbell, OH 44405.
n CRETICOS, ANGELO
CHICAGO, Ill. - The Chicago Tribune reported that Angelo Creticos, 89, passed away peacefully
on January 24 after a long and
fulfilled life that touched many.
He was born on January 15,
1922 and was raised in
Charleston, South Carolina. Angelo, together with dear wife and
life partner, Anastasia were
among the founding families of
SS. Peter and Paul Greek Orthodox Church in Glenview, Illinois.
He served as Medical Director of
Union Health Service, Inc. and
President of the Washington
Square Health Foundation until
shortly before he passed away.
Angelo was a fierce advocate on
behalf of patients and a health
care innovator. He was honored
in 2004 by the Institute of Medicine of Chicago as recipient of
the Henry P. Russe, M.D. Citation
for Exemplary Compassion in
Healthcare. The Illinois Masonic
Medical Center dedicated the Angelo P. Creticos, M.D. Cancer
Center in his honor in 1997. He
held leadership and teaching positions at the Dr. William M.
Scholl College of Podiatric Medicine, at the former Henrotin Hospital, at the University of Illinois
Medical School, Rush Medical
School, and George and Anna
Portes Cancer Center. He was
honored for his service as Executive Medical Officer for the U.S.
Navy in mission to Greece under
the Truman and Marshall Plans.
He was preceded in death by his
beloved wife, Anastasia; his parents, Peter and Helen Creticos;
his brother, Harold; his sister, Julia and by his brothers-in-law, Augustine and Nicholas. He is survived by his children, Peter
(Deborah) Creticos, Catherine
(Harry) Poulos and Helen (Evan)
Theodoropoulos; and by his
grandchildren, Justin (Jennifer)
Creticos, Natasha (Chad) Edwards, Nicholas, Theresa and
Gregory Poulos, and Anastasia,
Elaine and Angela Theodoropoulos; his great-granddaughter,
Hannah Creticos; his siblings,
Socrates (Zilla) and Anna Manalakis; and sister-in-law, Lula
Creticos. Visitation was held at
the Smith-Corcoran Funeral
Home and funeral services were
held at SS. Peter and Paul Greek
Orthodox Church. Donations are
requested in lieu of flowers to the
Angelo P. Creticos, M.D. Medical
Education Endowment, or to the
Advocate Illinois Masonic Medical Center, attention Ben
Imdieke, 836 W. Wellington Ave.,
Chicago, IL 60657. Arrangements
by John Adinamis, Funeral Director, LTD. (773)736-3833.
n DRIvAS, HELEN
RACINE, WI - The Racine Journal
Times reported that Helen Drivas,
97, passed away peacefully on
January 25 at the Sheboygan Progressive Care Center. She was
born in Greece on February 2,
1913, the daughter of the late
Gust and Demetra Filandrinos.
Helen and her family moved to
Racine when she was just twoand-a-half years old. She attended local schools and graduated from Park High School in
Racine. On June 10, 1934, Helen
was united in marriage to George
Drivas in Racine. For a time, Helen and George were the owners
of the Sugar Bowl Restaurant in
Wisconsin Rapids. Helen was
then employed in the administrative offices at J.I. Case Company
in Racine. She was a member of
both, Kimisis Tis Theotokou
Greek Orthodox Church in Racine
and St. Spyridon in Sheboygan.
She is survived by her children,
Betty George and John (Sharon)
Drivas; her grandchildren, David
(Holly) George, Christina (Jeffrey) Lilla, Suzanne (Wesley)
Pryor and Marcia (Brent)
Maguire; her great-grandchildren, Tommy, Mack, and Elena
George and David, Nicholas, and
Arianna Lilla; her siblings, Rev.
Theodore (Ione) Filandrinos and
Kay Karas; and many nieces,
nephews, other relatives and
friends. She was predeceased by
her parents; her sisters, Angeline
This is a service
to the community.
Announcements of deaths
may be telephoned to the
classified Department of
The National Herald at
(718) 784-5255,
monday through Friday,
9 a.m. to 5 p.m. eST
or e-mailed to:
[email protected]
Loumos, Jane Poulakos and Ann
Filandrinos; her brother, Peter Filandrinos; and son-in-law, James
George. Funeral services were
held at St. Spyridon Greek Orthodox Church with Fr. Peter Pappademetriou officiating. In lieu of
flowers, donations may be directed to St. Spyridon Greek Orthodox Church in Sheboygan and
Kimisis Tis Theotokou Greek Orthodox Church in Racine. Helen’s
family would like to thank the
staff at Sheboygan Progressive
Care Center for their compassion
and care that was extended to her
throughout the years. Online
condolences may be expressed at:
www.novakrammziegler.com.
n GAMILIS, TOM
CHICAGO, Ill. - The Chicago Tribune reported that Tom Gamilis
passed away peacefully. He was
predeceased by his parents, Georgiou and Konstantina Gamilis and
his siblings, Toula and Paul. He is
survived by his beloved wife,
Irene; his sister, Christina Mourtokokis; his brothers and sistersin-law, Chris Geroulis, Nick
(Voula) Geroulis, Mimi (Gus)
Stergios, Nitsa (Harry) Psyhogios,
Eleni (Antonis) Brousalis and
Nikoleta (Jerry) Tsoulos; and
many nieces and nephews here
and in Greece. Visitation was held
at the Smith-Corcoran Funeral
Home and funeral services were
held at St. John the Baptist Greek
Orthodox Church. Arrangements
by John G. Adinamis, Funeral Director, LTD. (773)736-3833.
n GIOTAS, AGATHOKLIS
MANCHESTER, N.H. - The Union
Leader reported that Agathoklis
Giotas, 82, passed away peacefully at his residence on January
27. He was born in Fourka,
Greece, on June 10, 1928 to
Efthimious and Agorou Giotas.
He worked for many years at Foster Beef and then for Schonlands
Beef. He was a long-time and devoted member of St. George
Greek Orthodox Cathedral and
was also a member of the Fourka
Society. He loved gardening and
his neighbors all enjoyed his
flower garden. He is survived by
his beloved wife of 52 years, Ifigenia Giotas; his children, Timothy (Vangie) Giotas and Andreas
Giotas; his grandsons, Christian
and Demetrios Giotas; his siblings, John (Ifigenia) Giotas and
Zoitsa (George) Kitsas; and numerous nephews, nieces and
cousins. Visitation and a Trisagion prayer service were held at
the Phaneuf Funeral Homes and
Crematorium. Funeral services
were held at St. George Greek Orthodox Cathedral. Memorial donations may be made to St.
George Greek Orthodox Cathedral, 650 Hanover St., Manchester, NH 03104.
n HASOULAS, DINA
TORONTO, Canada – The
Toronto Star reported that Dina
Hasoulas, 73, passed away peacefully at St. Joseph's Hospital in
Toronto on January 12. She is
survived by her beloved husband,
Konstantine; her son, Tim; her
grandson, Zachary; her siblings,
Nick (Voula) Andrews, Helen
(Gus) Varvaressos, Christine Tsekeri and Vasiliki Spiropoulos; and
many nieces and nephews. Visitation was held at the Turner &
Porter Yorke Chapel and funeral
services were held at the Annunciation of the Virgin Mary Greek
Orthodox Cathedral.
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n ANASTASIOU, EFROSINI
CHICAGO, Ill - The Chicago SunTimes reported that Efrosini Anastasiou, 89, passed away peacefully at her home surrounded by
her family on January 28. She
was born in Korfoula, Kastoria,
Greece. She was predeceased by
her beloved husband Nathaniel;
her granddaughter Rebecca and
her sister Malamati. She is survived by her children, Lina (Gregory) Stergiou, Chrysanthi (John)
Makridis, Athina (Nick) Magas,
and Tula (George) Vlahos; her
grandchildren, Tammy, Niko,
Ellen, Costa, Effie, Alexie,
Nathaniel and Anastasia; greatgrandmother of 11; and her siblings, Achilles, Alexandra, Eva
and Milton. Visitation was held
at Salerno's Galewood Chapels
and funeral services were held at
Holy Trinity Greek Orthodox
Church. In lieu of flowers, Efrosini
requested donations be made in
care of family to be distributed to
several orphanages. Arrangements by Nicholas M. Pishos, Funeral Director, Ltd. (773) 7451333.
vIA HOME DELIvERY
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THE NATIONAL HERALD, FEBRUARY 5-11, 2011
GREECE CYPRUS
11
Turkey Slams “Christian Club,” Fears An EU-Cyprus Choice Looms
As Greek and Turkish Cypriot
leaders try to find some solution
to the dilemma of an island divided since the 1974 invasion
of Turkish troops, which has allowed Turks to occupy the
northern third of the island
since in violation of United Nations resolutions, European
Union officials said there’s no
attempt to force Turkey to
choose between EU membership
and Cyprus. Natasha Butler, a
spokeswoman for European
Commissioner for Enlargement
and Neighborhood Policy Stefan
told the Anatolia news agency
that continuation of membership negotiations between
Turkey and the EU had a strategic importance both for Turkey
and the EU, adding that the EU
Commission was committed to
Turkey’s membership process
within the scope of framework
agreement of 2005. Noting that
Turkey, too, should be committed to the EU process, Butler
said that Turkey should exert
more efforts to meet the criteria
for joining, although it still refuses to allow in ships and
planes from Cyprus. Butler said
that the EU supported efforts for
solution of the Cyprus issue,
stressing that Turkey’s contribution to a solution was critical.
The EU was not forcing Turkey
to make a choice between the
AP/PeTROS KARADJIAS
Turkish Cypriot protesters shout slogans during a mass protest against an economic austerity
package in the Turkish occupied area north of divided Nicosia, Cyprus, Jan. 28, 2011. Thousands
of Turkish Cypriots attended the peaceful rally to voice their anger at the breakaway government’s cuts to the state payroll.
EU membership and Cyprus,
said Butler, adding however,
that the Cyprus issue had an influence on many political areas.
A comprehensive solution to the
Cyprus problem would have
positive impacts on Turkey’s ac-
cession talks, she added.
Regarding the views of Turkish Prime Minister Recep Tayyip
Erdogan who said that the EU
needed Turkey, Butler said that
the commission was aware of
the dynamism of Turkey’s econ-
omy and people, and it could be
an important value for the EU.
At nearly the same time,
Turkey’s Deputy Prime Minister
Ali Babacan complained that the
EU was becoming an inwardlooking “Christian club,” slam-
ming a lack of progress in his
country’s bid to join. Speaking
on a panel at the World Economic Forum in Davos that included EU President Herman
Van Rompuy, Babacan said: “We
always thought the EU is a big
peace project ... but then the enlargement process literally
stalled. “Open door policy is no
longer there,” he added. “And
one of the big themes about why
Turkey cannot become a member of the European Union is because it is a Christian club. This
is in our view very, very dangerous,” he said.
Ankara began accession negotiations with the EU in 2005,
but the process has stalled amid
opposition from some member
states, lack of reform in Turkey
and a trade row over the
Cyprus. Several negotiations
chapters remain frozen due to
Turkey’s refusal to open its ports
to Cyprus, an EU member which
Ankara does not recognize owing to the island’s division between its Greek and Turkish
communities. French President
Nicolas Sarkozy and German
Chancellor Angela Merkel has
expressed opposition to Turkey’s
bid. People in the Islamic world
are looking closely at the EU to
see whether it will open its
doors to Turkey, said Babacan,
who is also the Economy Minis-
ter. “Everyone is looking at what
is going on. And what kind of
Europe, what kind of European
Union we are going to be seeing
in the future is going to be of
immense importance in terms
of what kind of message our region gets,” he said. Turkey’s EU
bid received warm support from
one European delegation in
Davos: Sweden said it would
continue to support Turkey.
Prime Minister Fredrik Reinfeldt
denied Europe is a “Christian
Club” saying: “In Sweden a couple of decades ago we abolished
the idea of a state church. We
are not in the conception that
we all of one religion. “We have
400,000 Muslims in Sweden.
For me it’s not a religious cooperation the European Union, it’s
a set of values that is open for
all world religions. We are very
much in favor of a reformed
Turkey’s entry into the EU,” he
said. United Nations SecretaryGeneral Ban ki-Moon last month
in Geneva, Switzerland brought
together Greek Cypriot President Demetris Christofias and
his Turkish counterpart, Dervis
Eroglu on the deadline the UN
had set for some kind of
progress, but said since there
was none he would recommend
only that they keep talking,
which hasn’t worked for 36
years so far.
The Troika Looks at New Rescue Scheme, No Solution in Sight Yet
Continued from page 1
hikes, because Greeks have
stopped spending and scores of
thousands of businesses have
closed. Greece still has been unable to stem the bleeding of
more than $40 billion a year in
tax evasion, despite Papandreou’s pledges to crack down,
which lost credibility last week
when Tolis Voskopoulos, an aging pop singer who didn’t pay
$7.96 million in taxes, escaped
jail time and received a suspended sentence after arguing
he couldn’t pay because he didn’t
have the money any more.
Politicians, the rich, and
celebrities are notorious in
Greece for evading taxes, which
has deeply angered Greek workers who say they are bearing the
burden instead. The government
did begin closing down night
clubs that have evaded duties but
those sometimes quickly reopen.
DON’T FEAR DEFAULT
Greece expects the EU and
IMF officials to approve the release of the next round of loans
of $20 billion, Papaconstantinou
said. “The most important actions and fiscal targets have
been met,” he said in an interview published in Ta Nea newspaper. “Therefore, there is no
danger for the next installment.”
Asked whether Greece intends
to amend its constitution, in-
cluding a provision on fiscal discipline, in return for Europe’s
support, Papaconstantinou told
Ta Nea that the country first had
to regain its fiscal footing. “And
then we will be able to discuss
permanent mechanisms in our
national law to ensure fiscal balance.” Together with the cutbacks, the government has embarked on wide-ranging reforms
that will include ending decades
of strict regulation of certain professions — such as lawyers, architects and notaries — and
overhauling loss-making state
transport companies. Speaking
at the World Economic Forum in
Davos, Switzerland, Papaconstantinou said there were informal talks to find ways to reduce
Greece’s debt burden without restructuring it, including a debt
buyback. The EU was engaged
in frantic behind the scenes talks
to reduce Greece’s debt as the
international monitors came into
Athens amid fears the country
will still have to default, as predicted by a number of economic
analysts. Plans to buy back Greek
debt at a discount – a scenario
that economists called restructuring by stealth – were being given
“urgent consideration,” bankers
and EU officials said, and Greece
was said to be trying to buy time
and reach the next road of Troika
loans before the market bails out
on the country entirely. The
AP/vIRGINIA mAyO
Greek Prime Minister George Papandreou speaks during a session at the World Economic Forum in Davos, Switzerland on
Jan. 27, 2011, trying to reassure jittery investors the country
won’t default – but it will probably restructure its debt by
asking for more time to pay back international loans.
three-stage scheme, which dominated fringe debate at Davos,
would allow the near-insolvent
country to purchase Greek bonds
owned by the European Central
Bank at 75% of their nominal
value by borrowing from the European Financial Stability Facility,
the bloc’s rescue fund, at depressed market rates. “There is a
strong will to think about how
the EFSF can be more robust,”
Papandreou said in Davos. Since
receiving the emergency aid, Papandreou’s PASOK Socialist government has won praise for slashing the budget deficit from 15.4%
in 2009 to 9.4% of GDP through
a tough regime of public sector
pay and pensions cuts and increasing taxes, but some of his
own Cabinet members are saying
they are worried about growing
resistance from workers and
trade unions, especially after prolonged strikes by transportation
workers continued. Greece just
announced further cuts to defense and welfare spending - saying it would not be signing
weapons deals with either Germany or France – countries who
are the biggest stakeholders in
the EU’s portion of the loan. Lars
Feld, a member of German Chancellor Angela Merkel’s council of
economic advisers, said a restructuring of Greek debt is “necessary,” Frankfurter Allgemeine
Sonntagszeitung reported, citing
an interview. Giving Greece more
time to repay its loans would be
the “best solution” as creditors
wouldn’t lose “too much money,”
Feld was quoted as saying. Europe needs an insolvency mechanism for states, he said. “We
can’t save half the euro area without consequences on our own refinancing costs,” Feld said. The
recent increase in German borrowing costs is an “alarm,” he
added.
Economists said that even if
Athens enforced the fiscal consolidation program demanded in exchange for the bailout to the letter, the country would have to
generate a primary budget surplus of 5.5% just to keep up with
debt repayments, now a mathematical impossibility without the
kind of further cuts that could
provoke social unrest and perhaps
a return to the riots of early last
year, especially as Greeks see governments toppled in Tunisia and
upset in Egypt after demonstrations by people angry with their
leaders, similar to the breach between the rich and poor and
working class in Greece.
In an interview with the Austrian newspaper Die Presse, Papandreou continued to stress his
government’s determination to
implement its program for the
needed reforms and changes in
Greece, as well as its efforts to
achieve an extension for repayment of the country’s EU-IMF support mechanism loan, while at the
same time ruling out a restructuring of the Greek debt. Papandreou
further ruled out early general
elections in Greece, stressing that
elections will be held in 2013 at
the end of the present term of office.
Noting that the government’s
program needs to be implemented, he clarified that even if
Greece had a zero debt, the reforms and changes would have
been needed, since the system
was not sustainable and competitive, there was a lack of transparency, and little had been invested in the sectors in which
Greece has a competitive edge
such as tourism, green technologies and innovation.
Egypt’s Days of Rage Could Tip Greece’s Role with Israel, Turkey
Continued from page 1
Arab League Secretary-General
Amr Moussa; Israeli Prime Minister Benjamin Netanyahu; Jordan’s King Abdullah; Nobel
peace laureate Mohamed ElBaradei, seen as a potential
Mubarak successor; Palestinian
President Mahmoud Abbas and
European Union President Herman Van Rompuy. Papandreou’s
office did not reveal the content
of the talks. Greece has traditionally held good ties with Arab
countries and Israel. As foreign
minister in the past, Papandreou
had sought a mediating role in
Middle East crises. Greek Foreign
Minister Dimitris Droutsas and
his Australian counterpart called
on Egyptians to exercise restraint
amid protests that were escalating at the time.
Greece will stand by Egypt’s
side, supporting efforts for the
creation of a new society with
respect to the history and the
strategic role of the country,
Droutsas
said.
“President
Mubarak’s latest message can
kick start further tension or democratic dialogue,” Droutsas
said, noting that all political leaders should seek consensus to
build a stronger, democratic state
free of foreign interventions.
Greece was also a destination
point for Americans and others
fleeing the chaos in Cairo, a
number landing at the Venizelos
International Airport outside
Athens to the relief of friends and
loved ones waiting for them, and
Greece sent military aircraft to
Egypt to take out Greeks and
three Bulgarians in the northern
Egyptian city of Alexandria who
also wanted to leave. Three Bulgarian citizens were evacuated
from the northern Egyptian city
of Alexandria with the help of
the local Greek Consulate. The
Bulgarians were met in Athens
by the staff of the Bulgarian Embassy before being taken home
to Bulgaria.
AP/THANASSIS STAvRAKIS
An evacuee from Egypt reacts as he meets a relative at the Athens International Airport Eleftherios Venizelos, in Spata, near Athens, Tuesday, Feb. 1, 2011. Greece sent three C-130 military
transport planes to Alexandria to evacuate about 220 Greek citizens wanting to leave.
The Egyptian spillover effect,
apart from whether Greeks who
last year held six general strikes
and took to the streets to protest
paralyzing austerity measures
such as big pay cuts and tax
hikes would be emboldened by
the events in Tunisia and Egypt
and ramp up their resistance,
was more political and diplomatic. Alexandros Kyrou, an Associate Professor of History at
Salem State University in Massachusetts, and a contributing
columnist to The National Herald, said, “For Greece, as well as
the US, it is important to consider the potential spillover effects and indicators of the Egyptian crisis in terms of what is
happening in Turkey. In Turkey
we can see the same dynamic at
work as in Egypt, but it is
stretched out over a much longer
period of time.
In Turkey, years of non-democratic Kemalist secularism led to
the rise to power of the now ruling Islamist party, the Justice and
Development Party (AKP), just
as secular authoritarian rule in
Egypt has fueled the growth of
the Muslim Brotherhood in that
country.” He said that while the
AKP is radical Islamist party, its
actions, since coming to power
in 2002, “show worrying signs
of intolerance towards pluralism
and religious radicalization in
terms of its domestic political discourse and unwillingness to take
religious freedom issues seriously, all the while concentrating
the political authority of Turkey’s
judiciary and education in party
elite hands.” And as Greece has
moved closer to Israel, that country has found its previously cordial relations with Turkey unraveling after a series of diplomatic
disputes, including over the
killing of eight Turks aboard a
convoy trying to reach the Gaza
strip of Palestine, under blockade
by Israel.
The Egyptian crisis is also important for Greece because Egypt
has the potential to become an
exemplar for Greece’s regional
neighbors in the Balkans. In
short, if what will undoubtedly
be a protracted transition in
Egypt could produce a sustainable democracy premised on liberal principles and priorities of
human rights and rule of law,
this will have positive demonstration effects for Albania,
Bosnia, and FYROM, all countries whose significant Muslim
populations could look to a democratic Egypt, rather than an
historically authoritarian and
now increasingly Islamist Turkey,
as an example to follow—one
where liberal democracy triumphs over the twin extremes
of secular authoritarianism and
religious extremism.
Another contributor to TNH,
Dan Georgakas, on the faculty at
the Center for Byzantine and
Modern Greek Studies at Queens
College, and co-editor of the
Journal of the Hellenic Diaspora,
said what happens in Egypt
could give Greece a chance to
play the role of an “honest broker” with Israel but only, “if it is
skillful.” He noted, “Greece has
excellent relations with Arabs in
general and with the Palestinians
in particular. Israel is now very
dominant militarily and now
would be a great time for them
to make a real peace offer rather
than the usual expansionist extremism. Greece makes a much
better middleman than Tony
Blair (former British prime minister and now a Special Envoy to
the Mideast) or the Turks, neither of who have favor among
Palestinians or Arabs. This role
would also enhance the value of
Greece to the US.” Papandreou
particularly has reached out to
Israel, hosting Prime Minister
Netanyahu in Athens and trying
to boost Greece’s visibility at a
time when Turkey is a rising
power. Without Mubarak in
power in the region’s most populous Arab country, Turkish
Prime Minister Recep Tayyip Erdogan could have the big stick
now.
Kyrou added: The cleavage
lines are not between secular
and Islamist forces, as is often
reported in Western media—this
is a false dichotomy. The real division is between democratic versus authoritarian forces and pluralist versus religious extremist
forces. We should not make the
mistake of thinking that democracy and secularist forces are the
same, nor should we always
equate religious actors with extremism. That is the challenge
for American and European foreign policymakers, and that distinction is crucial for Greece Europe’s closest neighbor, geographically and culturally, to the
Middle East - to emphasize to
both the US and the EU: how to
empower all forces, whether re-
ligious or secularist that will support liberal democratic regimes
that prioritize human rights and
rule of law, and the kinds of economic activity that are correlates
of democracy. He added that, “It
is important for Athens and
Washington to recognize that the
recent events in Egypt reflect the
broader reconfiguration of forces
in the greater Middle East.” One
area is that “Greece presumably
has an interest in using its diplomatic capacity to protect Orthodox
minority
populations
throughout the Middle East who
have been and are being adversely affected by clashes between non-democratic forces of
either secular authoritarian or Islamic fundamentalist stripe.”
Before the violence escalated,
and the military refused to stop
it, Prof. Alon Ben-Meir, Professor
of International Relations and
Middle Eastern Studies at the
New School in New York City,
said, “It has become increasingly
clear that the future of Egypt’s
stability, political reforms and
progress rest almost entirely in
the hands of its military. Unlike
other militaries in Arab states,
Egypt’s military is one of the
most respected institutions that
have earned the admiration and
respect of the people. In that
sense it is the people’s military
to which most Egyptians look up
to with esteem. Although the
military supported the Mubarak
government, it remained above
the fray and largely untainted
with corruption, relative to many
other government institutions.”
He added that, “The people, with
the support of their military,
must now chose the kind of future they seek for Egypt as a
country and for its people. They
must decide how to utilize what
emerges from the ashes of the
people’s revolution to restore
Egypt’s leadership as the bulwark
of regional stability and peace,
and assume the task of promoting freedom, economic progress
and growth at home.
EDITORIALS LETTERS
12
LETTERS TO THE EDITOR
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The USA and Mubarak
In the early morning of April 21, 1967 an alarm went off in
Washington, D.C. In a series of top secret telegrams, the American
Embassy in Athens was informing the administration of disturbing
events in the Greek capital: a small group of colonels had taken
over power, beating the generals to the punch. The diplomats were
seeking urgent instructions on what to do.
President Lyndon Johnson was furious. Greece, after all, was a
member of NATO, a strategic ally in the fight against the Soviet
Union, not to mention the cradle of democracy.
The president’s foreign policy advisors were split.
Some favored the immediate denunciation of the still-fragile
military regime, backing the young then-King Constantine, a friend
of the United States.
Others argued that the U.S. had no choice but to cooperate discretely with them, this being the only realistic policy serving American interests.
The rest is history.
Forty-four years later, the U.S. is faced with a similar, daunting
situation: the overthrow of the Mubarak regime in Egypt.
Again the lines of the argument are the same: There are those
in the administration and the media who argue that America needs
to stand firm in support of a 30-year-old ally. Otherwise, they
argue, America will lose all its friends around the world.
The other side argues that the U.S. must move fast to ally herself
with the young demonstrators, who are the future, to avoid repeating the same horrible series of events that took place in Iran
decades ago.
It's a difficult dilemma. It never is black and white in cases like
these.
Since its first involvement with the outside world, the United
States of America has tried hard to balance its natural tendency towards freedom and respect for human dignity and life - the core
ideas on which this nation was built - with a hard-nosed policy of
realpolitik serving her interests. It is this realistic perception of selfinterest that historically compels the U.S. to cooperate with regimes
that stand in direct opposition to what America is about, in clear
contradiction to its political system, its values and way of life.
This effort continues up to this day with the regimes in
Afghanistan and Iraq - and now with Mubarak.
Egypt is a hugely important country: in addition to its historic
and cultural importance, its geostrategic position makes the country
indispensable to the West.
Egypt is the leading Arab country, responsible for the Suez Canal,
a seaway through which about 12% of the world's trade passes and
the second most important seaway, after the Strait of Hormuz a
little further east.
In addition Egypt shares extensive borders with Israel and is the
only Arab country that has signed a peace agreement with the Jewish
state.
Nearby Iran must indeed be very pleased with what is going on
in Egypt.
For 30 years the Mubarak regime traded giving a free hand to
the U.S. over its territory for acceptance and protection from Washington.
The Obama administration wavered in the beginning of the crisis
between supporting its good old ally and allying itself with the
future, with the new Egypt.
It changed course halfway through the week and in effect forced
Mubarak to go on TV and announce that he would step down, albeit
not now, as the administration wants, but nine whole months later...
The demonstrators wouldn't take the bait. And so Mubarak unleashed his supporters, who clashed with his opponents in what
seemed like a mini civil war, taking place in the middle of Cairo.
America needs a guidebook on how to deal with these crises: a
set of rules to apply in every such instance with minor modifications.
The underlying tenet of these rules should be to act in accordance
with America's core ideas and values. It is the only policy that will
serve it best in the long term.
It is entirely possible that we would face some setbacks initially.
That the U.S. might lose some of the privileges it enjoys through
supporting illegitimate, despotic regimes.
However, in the long term, it will come out a winner. And
equally important, it will be faithful to itself.
A God-sent gift
One way or another, Mubarak will go, and relations between
Egypt, America and Israel will never be the same.
A valuable strategic partner will either be neutralized or turned
against the USA.
This presents Greece and Cyprus with a great opportunity. From
a strategic perspective they are now more important to the West.
It is a God-sent gift. It might even save Greece from financial
ruin, if they play their cards right.
The first opportunity that presents itself pertains to tourism.
The tens of thousands of American tourists who visit Egypt annually
will think twice before they spend their vacation there this year.
They might be enticed instead to visit the Parthenon - if it is
open- or Cyprus instead of visiting the Pyramids. However, if Greek
authorities do not act fast then Turkey might become the beneficiary
of the chaos in Egypt.
There are also opportunities related to Greece’s increased
geostrategic significance: The airfields and the huge naval bases in
Suda Bay, Crete, due to their proximity to Egypt and the rest of the
Middle East, have become even more valuable to the West.
This is leverage Greece has needed from the start of her financial
crisis to use on the Germans and the France, so that they will ease
the terms they have imposed on her as a condition for bailing her
out. If they refuse, and conditions worsen, the Greeks should point
out that an Egyptian style uprising by the population of Greece
cannot be ruled out, with all its nasty ramifications for the West.
No government can survive for long the severe austerity measures imposed on Greece.
The only European precedent for the long-term imposition of
draconian economic measures was the case of Rumania, but finally
the people rebelled and the long time dictator Nicolae Ceauşescu
and his wife Elena met their ends before a firing squad.
Greece should trade on her newly found heightened strategic
importance to achieve the easing of the terms of her loans, both in
terms of maturity and in the interest rate she is charged.
Otherwise the US and the EU face the possibility of a social explosion in a member of the Eurozone and a vital strategic ally.
THE NATIONAL HERALD, FEBRUARY 5-11, 2011
The Autism Warriors Want
You To Know Something
To the Editor:
As Autism Awareness month,
April, is approaching soon, I think
that it is important to remember
the parents of children with
Autism. Yes, the children who
suffer from this debilitating disorder work harder than you will
ever know to live with their disabilities, but the parents need to
be acknowledged as well. Parents
of children with autism (aka
“Warriors” labeled by Jenny McCarthy) are in a class of their
own. I am so blessed to be surrounded by such a warm, giving,
humorous, philanthropic, and
motivating group of friends and
colleagues. They set the bar high
– you better be on your toes with
education on the latest research,
treatments, and therapy. The
truth is, I can’t imagine a life
without Autism. I can’t imagine
a life without my supportive network of parents who like myself
and my husband, Andrew, strive
to help our children be the best
that they can be despite their disabilities. Along my 6 year Autism
journey, I have come across many
different “autism parenting
styles”. The single and most distinct characteristic that they all
have in common is the enthusiasm to help others who have
been touched by this disorder.
Despite their daily time challenges with therapy, diet, school
meetings, dr. appointments, etc.
they still somehow find the time
to advocate and support others.
The autism parent community is
like no other – although you may
not personally know someone,
you are always welcome to reach
out and expect a warm, timely,
and accurate response to any
question.
I am so honored to have been
introduced to my good friend and
autism mentor, Harry Tembenis.
Harry and his wife, Gina, lost
their son Elias at the age of 7 to
an autism related seizure disorder ruled by the American Vaccine Court to be vaccine related.
Despite their tragic loss, they continue to be Autism warriors and
advocate for other children in our
community. I encourage everyone to google The Elias Tembenis
Walk for Autism and read about
the inspiring men, Robert
Williams and Bobby Genese who
walked from San Francisco to
Washington, D.C. in 2008 to raise
money for autism awareness in
honor of Elias. The Tembenis
family foundation, The Sixth
Planet, can also be found at
www.ageofautism.com.
"The dirty little secret of
autism is that so much of the
therapy needed is not covered by
insurance," Tembenis says. Harry
and I share the same opinion. For
that same reason, our family
founded The St. Nicholas Autism
Foundation (www.stnickfoundation.org), which provides financial grants, advocate services, and
programs to Greek American
children diagnosed with Autism
Spectrum Disorder.
I remain grateful that the
Greek American community has
embraced this disability with
open arms. Thank you for accepting, understanding, and supporting the families who live with
Autism. I personally feel very
privileged to be a part of the NY
Greek American community.
On February 11th, Nick Katsoris, acclaimed author of the
Loukoumi children’s book series,
will hold an interactive story
time/pajama party at St. Paul’s
Greek Orthodox Cathedral,
Hempstead, from 7:30 p.m. –
9:00 p.m. A portion of proceeds
will be donated to the St. Nick’s
Autism Foundation. For more information, please contact me at
[email protected]
or visit our website at
www.stnickfoundation.org.
Melanie Donus, Founder
and Executive Director
St. Nicholas Autism
Foundation
Garden City, New York
FOTOGRAFFITI
AP PHOTO
For $24 and Some Beads
Greek Prime Minister George Papandreou (L) was so happy
at the ceremony where he said he’d solved Greece’s financial problems by merging with Turkey that he let Turkish
Prime Minister Recip Tayyip Erdogan cut the ribbon at the
border. Greece will now be called West Turkey.
ΛΟΓΟΣ
Here’s Some Innovation We Can Really Believe In
Innovation is getting a lot of
attention, including by President
Barack Obama in his State of the
Union address on January 25.
“The first step in winning the future is encouraging American innovation,” he proclaimed. Greek
Prime Minister George Papandreou has raised the issue of innovation on numerous occasions
to address Greece’s myriad of political, economic, and social/culchallenges.
But
is
tural
innovation just a buzzword to
which everyone on either side of
the political aisle can nod their
head in agreement, or does it
represent a true competitive advantage? As Elaine Dundon,
Ph.D., (disclaimer: my wife)
writes in the preface of her bestselling book, The Seeds of Innovation: “Over the last few years,
I have witnessed a growing interest in the field of Innovation
Management. Now more than
ever, in an era of economic uncertainty, constrained resources,
and increased global competition, more and more organizations are turning to Innovation
Management as a source of new
solutions and new inspiration.”
This focus on driving innovation
is not restricted to corporations
and small business enterprises in
the private sector; accelerating
innovation to transform governments has become a hot and
much-needed topic of concern.
The next paragraph in Dundon’s
book is telling and highlights the
crux of the innovation discussion
or dilemma as espoused by
Obama. “At the same time, however, I have witnessed a growing
frustration surrounding the lack
of clarity as to what
Dundon
recomInnovation Managemends an holistic
ment is all about. I
approach to buildsee many organizaing the awareness
tions declaring inand skills for capinovation as an
talizing on the inobjective but then
n o v a t i o n
failing to follow up
opportunity. She
with any concrete
provides strong evaction steps or supidence that the core
port.”
competencies (i.e.,
Herein lies the
knowledge, skills,
problem and the
attitude) to make
by Dr. ALEX
opportunity. What is
innovation happen
PATTAKOS
innovation? Is it
can be taught. The
creativity? Is it inhow-to’s of develSpecial to
vestments in infraoping these compeThe National Herald
structure, such as
tencies
in
highways and airports? Is it just innovative thinking include
technology? How can one jump building skills in three critical
on this innovation bandwagon? areas: creative thinking, strateHow can we encourage people gic thinking, and transformaand workers in an organization, tional thinking. If we also
to embrace the opportunity that provide a fertile field (Dundon
the focus on innovation gives us? refers to this as the Innovation
If, as the President suggests, in- Field) for them to grow by ennovation “is how we make a liv- couraging creative expression
ing,” How can we ensure that and risk-taking—the antithesis
the seeds of innovation are of traditional bureaucratic
planted firmly in American soil? (non)systems and resulting enAnd the same thing holds true counters. Creative thinking can
for our compatriots in Greece, a be taught by encouraging curiosland that once upon a time was ity and strengthening the ability
synonymous with innovation. to form new connections. StrateDundon provides a solid anti- gic thinking can be taught by indote to the questions raised by creasing the ability to see the
Obama’s State of the Union bigger picture, understand fuspeech, as well as offering a solid ture trends, and strive for complatform for rediscovering and petitive advantage through
accelerating innovation in being extraordinary. TransformaGreece. The Seeds of Innovation tional thinking can be taught by
presents a disciplined yet practi- increasing greater awareness of
cal approach to innovation the supports and obstacles to a
based on a very successful Inno- particular innovation project,
vation Management course at and learning how to present
the University of Toronto, the ideas to garner maximum supfirst of its kind in North America. port for their implementation.
Possibly the most important
chapter that Dundon includes in
her book is entitled, Take Action.
All too often we hear speeches
such as the President’s, calls
from elected officials and their
appointees, or the yearly kickoff
speech by a CEO which center
on the theme of innovation. We
also hear the same message: “We
need more innovation.” But,
subconsciously if not consciously, we just magically hope
it happens. Simply relying on the
audacity of hope will rarely help
us achieve our innovation aims.
America’s “need to out-innovate...the rest of the world”
along the lines espoused by President Obama will require a different kind of investment, one
built upon more than just good
intentions or wishful thinking.
This also applies to the innovation agenda espoused by Papandreou for getting Greece out of
its predicament and for building
a positive future. I know that he
believes that a new Golden Age
of Greece is possible; one not
grounded in austerity measures
but elevated by innovation. The
skills outlined by Dundon are the
how-to’s to make innovation
happen. Now’s the time to plant
the seeds of innovation throughout the United States and
Greece. Let’s make 2011 the year
we make innovation we can believe in happen.
Alex Pattakos is co-founder of a
business initiative on how to
live a meaningful life inspired
by Greek culture. Readers may
contact him at: [email protected]
COMMENTARY
The Mis-education of Greek Pols Dampens Diaspora
Shortly before the commemoration of Three Hierarchs Day
on Jan. 30th, which also marks
the celebration of the Greek Letters, the Greek Education Ministry hit us with the latest bit of
grim news, refusing to discount
the possibility of further cutbacks
in the number of teachers dispatched to Greek schools operating abroad – including Greek
parochial and charter schools in
the United States. These teachers
have served as a financial lifeline
for local schools, overwhelmed
with continually rising costs and
practically no ancillary support
from umbrella organizations or
Hellenic American groups operating nationwide. Greek Education in the U.S. –treated by most
community power brokers as the
perennial ugly stepchild – is now
getting smacked around by
Greece. Alternate Education Minister Fofi Gennimata referred to
issues related to Greek language
education abroad, identifying
systemic problems and weaknesses, such as clientelism, resulting in outrageous costs and
inefficiencies. Bemoaning that,
“There is not a reliable system in
place for monitoring the operation of Greek schools abroad, so
it is not possible to develop effective policy and apply sustainable management and control on
them,” Gennimata spoke of the
high cost of dispatching teachers
– $463 million for 2,350 teachers
of a country’s lanin 2009, plus the
guage and culture is
cost of substitute
seen as a high-yield
teachers to replace
long-term investthose sent abroad.
ment.
She alluded to a
Beyond the mydraft bill in May
opic,
miniscule
which would “ratioworld of Greek
nalize” funding and
Government ministhe detachment of
ters, there seems to
teachers abroad.
be a major interest
She said 16,000 stuin Hellenism. Pridents attend classes
mary school stuin
300
Greek
by Christopher
dents in Oxford,
schools across the
TRIPOULAS
England recently
U.S., while 30,000 –
Special to
gained publicity for
40,000 don’t attend
The National Herald
their decision to
any programs at all.
embrace the anGennimata went on
to pledge that “Wherever there cient Greek classics after staging
is a real need in the Greek Amer- a play based on the Iliad. “It may
ican Community, it will be met, seem a bit ambitious teaching
but every euro of the Greek citi- Greek classics to seven and eightzen must be used effectively.” year-old children, but they have
Most countries go out of their really got into it,” their teacher
way to promote their language told reporters. Here in the U.S.,
and heritage abroad. They invest the New York Times has repeatconsiderable resources support- edly written about how ancient
ing university chairs, primary and Greek plays are used by the milsecondary schools, and even pro- itary to help soldiers cope with
grams for adult learners. Ger- life after war, or how job seekers
many has the Goethe Institute, trained in the Classics may make
France has the Alliance for better managers and execuFrançaise, and Spain has the In- tives. The N.Y. Daily News had
stituto Cervantes. Consider the stories about a group of local stushocking amount of money dents inspired by the play
Turkey spends promoting its cul- Antigone who protested the Deture worldwide, or the number partment of Education’s plans to
of Turkish Studies Chairs in the close their school. All over the
United States compared to the world, serious people – without
number of Hellenic Studies the slightest trace of Greek origin
Chairs. For most, the promotion in their genealogy – continue to
admire the Greek language and
culture. Education Minister Anna
Diamantopoulou is the one who
wanted to make English an official language in Greece (it’s not
even America’s official language). The Greek American
Community would do well to
light a couple of extra candles to
the Three Hierarchs and pray for
the well-being of the Niarchos
Foundation, which routinely
makes major contributions to
Greek American schools. Save
for that, we’d better start supporting our local schools and demanding the same from our national organizations – religious
and secular – or else no one else
will.
CORRECTION:
The National Herald erroneously reported in its January 29 edition that Michael
Gianaris was the first Greek
American to be elected to
state office in New York.
That honor actually belongs
to N.Y. State Senator and
Majority Leader, Dean Skellos, a Republican, who was
elected to the State Assembly in 1980. Gianaris was
the first Democrat from the
community to gain state office in New York.
THE NATIONAL HERALD, FEBRUARY 5-11, 2011
LETTER FROM ATHENS
Greek Diaspora Bond Slogan:
Honest, We’re Not Crooks!
food. If you don’t,
Not to be outthe Turkish flag
done by the Greek
will be flying over
Church, which unthe Acropolis and
der Greek Law
Manolis Glezos,
$1,000,000,000,000
who took down the
has an official LiNazi flag in 1941
cense to Steal until
says he’s closing in
it reaches that
on 90 now and
amount,
which
doesn’t know if he
should be in a few
can shimmy up the
months or so at the
flagpole and do it
rate it’s pillaging the
again. Won’t you
pockets of parishby ANDY
help?”
ioners in Greece and
DABILIS
Here’s
what
the United States,
your investment
the Administration
Special to
The National Herald
will buy you:
of Prime Minister
• 50 euros –
George Papandreou,
so strapped for cash it’s thinking One coffee in Kolonaki for two
of creating a 900-phone line Members of Parliament or a maswhere, for only $2 a minute you sage for a priest who’s been decan call and talk dirty to sex prived of carnal pleasures, except
bomb Julia Alexandratou (they for the occasional altar boy or 14gave her a script only to find she year-old nuns
• 500 euros – lunch for two
can’t read, but she can say, “Yes,
Yes, Oh God Yes!” just fine, Members of Parliament in Kolonwhich pleased a lot of fantasiz- aki
• 1000 euros – dinner for two
ing priests and earned her an official Church imprimatur) - or, Members of Parliament in Kolonif you prefer, you can have a de- aki (not including the tip but
bate with Deputy Prime Minister don’t worry, they don’t leave any)
• 1500 euros – A month’s rent
Theodoros Pangalos, who never
saw a fight he wished he hadn’t for a politician’s yacht in Glyfada
• 10,000 euros – A week in
started and is famous for telling
Papandreou, “If I want your Monte Carlo for a politician
opinion, I’ll give it to you,” - the who’s exhausted from cutting the
government is going to issue Di- wages of workers and benefits
aspora Bonds, just like U.S. War for pensioners
Won’t you please look into
Bonds during World War II, asking Greek Americans and those your bleeding heart and give unaround the world to loan money til it hurts? Greece needs you in
to Greece with the promise that her darkest hour.
Respectfully Yours,
in some years from now (about
Ernestos Bilkos
100) you can present the piece
Greek Prime Minister George
Papandreou, has who secretly
abdicated and left the government in the hands of the European Union and International
Monetary Fund, signed off on
the Diaspora Bonds scam, uh,
investment scheme, hoping
Greeks around the world would
respond to the tug in their heart
and not the pain in their stomach every time they hear of another scandal in which a priest
or politician or business executive has absconded with all the
money left in the treasury. So
won’t you please send your retirement monies, break open
Americans rallied around the your kid’s piggy banks, rob a
cause in WWII, but Greece's convenience store or gasoline
station, or take your children’s
enemy is itself.
college fund or your retirement
of paper and get your money money and send it to Greece.
back with interest, and, if you The FBI, though, has recombelieve that, I’ve got a bridge in mended you put red dye in the
Brooklyn I’d like to sell you. Fi- envelope or take a picture of the
nance Minister George Papacon- money because you will never
stantinou, whose last gig was see it again. By the way, anybody
running a Three-Card Monte know what happened to the
scam near the tourist traps in money that was donated by
Thissio and Monastiraki, said, Greek Americans and the Dis“We will mainly address Greeks apora last year when they fell
in Europe, the US, Australia, for this Ponzi scheme? You’re goetc., while the interest will be ing to send money to people
lower than current market who’ve spent it on themselves
rates,” knowing full-well that the like drunken sailors for almost
Diaspora is a sucker’s bet be- 40 years? Elena Argyros of Ascause the real Greeks – who re- toria, N.Y., put it best in a video
ally love Greece – don’t live in on Bloomberg news agency. “I
Greece and will do just about know if my neighbor needs
anything to preserve their fan- money I’ll go and give money to
tasyland image of what they them. But to the government,
wish Greece could be, even if no, I don’t trust them.” Better
they’re about 2,500 years behind off calling them P.T. Barnum
the times. But just to make sure, bonds. A Business Week report
Greece has farmed out the pitch showed there’s plenty of takers.
to Nigerians who know how to Nina Vacratsis, who left Greece
get money out of just about any- 65 years ago and lives in Sarnia,
body except Jack Benny, al- Ontario, one of about 11 million
though they’ve subcontracted to people in the Diaspora of Greek
a clever (poneeros) Greek ghost descent – equal to the populawriter. So if you have any Greek tion of Greece – “The U.S. had
blood in you at all (transfusions war bonds people bought to help
count) you’ll be getting a letter the country when it was at war
and an email from the Greek so in a way this is an economic
government with the subject line war Greece is fighting right now.
– GREEK DIASPORA BONDS – If in a small way I can help at
NOT A SCAM! – that goes some- this point then sure, why not?”
If you insist on having the
thing like this:
“As a Greek (American-Aus- word “Sucker” painted on your
tralian-African, etc.) I write you forehead to make it easier for
in respect. I work in the credit Greek officials to find and fleece
and accounts department of the you, and you give them your
Chigouni Bank of Athens on be- money, please be advised they
half of the Greek government, are like those TV evangelists who
which has authorized this plea, don’t pass it on directly to God
and your dear aunt (fill in the or poor people, but to themname) who died tragically last selves. What you’ll get is a pretty
week, uttering her last words: piece of paper worth less than a
‘Please send money to Greece… roll of Charmin, and unsuitable
..’ She knew well that the moth- for framing.
Nikolaos Skinitis, a ship broerland-fatherland-fantasyland
was in peril and needed the help ker living in London, who heads
of those who are Greeks wher- the World Council of Hellenes
ever they are in the world, who Abroad for Europe, and who can
bleed the blue-and-white of the afford to lose money, said, “Most
Greek flag and understand that of the Greeks living abroad are
unless Greece raises $1 trillion in following the market and they
the next year that it will have to know what they have to do. Inmerge with Turkey and kiss the stead of investing somewhere
boots of German Chancellor An- else I’m sure they’d prefer to ingela Merkel after booting out the vest in the bonds that the Greek
despised Nazis in World War II. government issued for that parDo you want that, to see your ticular purpose.” Or, if you’re
the
Chrysovalantou
dear Greece humiliated? No, I near
think not, so we’re asking you to monastery in Astoria, N.Y. go inbuy Diaspora Bonds, to invest in side and pick up a bag containing
the country of your heart, in re- $250,000 in cash that reportedly
turn for which you will be paid was left behind by a bishop in a
interest at the rate of hurry to get out of town and
.00000000000001 percent in the send it to Andy Dabilis c/o The
year 2050, or when hell freezes National Herald, Democritou 1,
over or the Chicago Cubs win the Athens, Greece and I will perWorld Series, whichever comes sonally deliver it to the proper
sooner.” In the last 60 years, Jews authorities, after a small adminof the Diaspora have contributed istrative fee, just like the Greek
$25 billion for their heritage, al- government does. They’ll give
though still perplexed by the idea you all their interest – just no
of free ham. Won’t you please in- money.
vest in Greece so that pensioners
can buy souvlakis instead of dog [email protected]
VIEWPOINTS
13
A Letter to The Troika On Liberalizing Greek Energy Market
By Stratos Tavoulareas*
No doubt the Greek energy
market needs reform; however,
let’s avoid rushing to implement
reforms, which could lead to further economic havoc. I should
start by stating the obvious, that
Greece should have liberalized
its market a long time ago following European Union directives. However, the past cannot
be changed; so, let’s look at the
future. Also, let’s take into account lessons learned from other
countries, which have liberalized
their energy sectors. Liberalized
energy markets do not work well
under tight energy supply conditions. Presently and for the next
five years, electricity supply in
the Balkans is expected to be inadequate to satisfy peak demand.
Delays in the implementation of
key projects such as Belene (in
Bulgaria) and Kosovo have
changed the situation from supply-rich to supply-constrained,
and the situation is not expected
to change overnight, as you can
not build power plants in a few
months. Under the circumstances, prices have the potential
to increase substantially, as was
the case with California in 20002001 when wholesale prices increased by more than 800%.
Also, we should remember that
energy supply is easy to manipulate (who is going to challenge a
power plant owner who claims
that his/her plant is not available
for technical reasons?) and if
market manipulation was easy in
California (a State famous for its
technological competency, lawabiding institutions and sophisticated financial system), imagine
what is possible in the Balkans.
So, Greece’s market liberalization
should take into account the energy supply-demand situation in
the region, the liberalization of
the markets in neighboring countries and the institutional capacity of the country. Right now, it is
not time for experiments.
Under the present circumstances, risk management considerations favor energy sector
regulation. Risks (of all types)
find their way into electricity
prices, eventually paid by the
consumers. So, how the various
risks are managed crucial. The
country’s risk profile (reflecting
Byzantine bureaucracy, corruption, limited ability of consumers
to pay, weakness of legal, financial and regulatory institutions,
etc.), as well as the project-specific risks, are all factored into a
Greece is a country that still relies on coal-fired plants for much of is energy, but is increasingly
looking toward alternative sources, such as wind and more solar parks in the works.
minimum acceptable return on
investment (ROI), which is established by each investor. Shifting risks to market players who
are not in the best position to
control them increases further
the minimum acceptable ROI.
My estimate is that presently private investors will not accept
ROI’s less than 20-30% in
Greece. This does not compare
favorably with the typical 3-5%
return on assets, which is expected in a well-regulated public
power market. So, a liberalized
market will have a much higher
risk premium in the tariff than a
regulated market.
I am not advocating the continuing involvementthat of only
public sector enterprises; in fact,
it is very obvious that the private
sector needs to participate. However, the transition from vertically integrated public sector to
a more liberalized market should
follow rational steps. In designing a well-functioning energy
market, we need to firstbuild up
adequate supply, improve the
risk profile of the country and
limit political interference on
RAE and PPC operations. On the
latter: the regulator (RAE)
should be free of any political interference, should employ wellqualified experts and be responsible for tariff setting. Changing
RAE staff by each newly appointed government does not
send the right signal to the market and needs to be avoided.
Also, tariff setting should be the
responsibility of RAE. The Ministry’s role should be policy setting (including approval of tariff
methodology), but not tariff-setting. Long-term, this will be
much better for politicians too,
as they will not be blamed for
increasing energy prices, something they cannot control anyway.
PPC, Greece’s power generating company should be free of
political interference, be managed by a competent team and
strive to improve its cost-effectiveness. While every government would claim that it does
not interfere with PPC, there are
numerous examples (ranging
from personnel appointments to
implementation of specific projects) suggesting the opposite.
Often, government-appointed
management is not really qualified to manage PPC as a modern
power company; also, staff appointments are driven by favoritism. As a result, PPC employs many more people than it
needs, not to mention that there
is a lot of dead wood, too. A
benchmarking comparing PPC to
other similar power companies
around the world will be most
revealing. (A few months ago, I
participated in benchmarking a
power company of another country in which we included PPC;
they did not look good!) So, PPC
could improve significantly its
cost-effectiveness and competitiveness, if politicians do not interfere in its operation and a
world-class management team
leads the organization.
A few more words on PPC: it
is a very important institution in
Greece, which is worth strengthening, not demolishing. With all
its imperfections, it has contributed significantly to the country’s economic development, it
provides cheap electricity and
with some improvements, it
could and should play a very important role in the regional energy market.
So, let’s address first the key
issues facing the energy market
right now before rushing to full
unbundling and privatization.
Let’s take important steps in the
right direction by building-up energy supply, improving the country’s risk profile and reforming
the key institutions to play the
appropriate role in a well-structured and well-functioning energy market. Such actions will
make it easier to transition to a
fully competitive (regional) market and will contribute to
Greece’s long-term economic recovery. The slowly developing regional market (in the Balkans)
gives Greece some breathing
room to prepare better.
Stratos Tavoulareas, of Energy
Technologies Enterprises of
McLean, Virginia, is also a consultant on energy, environmental and economic issues.
http://www.stratostavoulareas.bl
ogspot.com/
Disclaimer:
References
to
competent
staff/management for RAE and
PPC is not meant to reflect my
opinion about the present staff
of these organizations. My
intent is to emphasize the need
for competency in general and
always, independently of who is
in government each time.
14
©PHOTO: KOSTAS BEH
THE NATIONAL HERALD, FEBRUARY 5-11, 2011
Congratulations
to
GUS ANTONOPOULOS
for his caring,
dedication and devotion
to improving the lives of others
and
for his commitment to community service.
Fred Friedman