12-16-2017  1:13 am      •     
MLK Breakfast
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NEWS BRIEFS

Exhibit Explores the Legacy of Portland Bird Watchers

Dedicated bird watchers catapult a conservationist movement ...

Special Call for Stories about the Spanish Flu

Genealogical Forum of Oregon seeks stories from the public about one of history's most lethal outbreaks ...

Joint Office of Homeless Services Announces Severe Weather Strategy

Those seeking shelter should call 211 or visit 211.org. Neighbors needed to volunteer, donate cold-weather apparel ...

Q&A with Facebook's Global Director of Diversity Maxine Williams

A conversation on diversity and the tech industry ...

City Announces Laura John as Tribal Liason

Laura John brings an extensive background in tribal advocacy and community engagement to the city of Portland ...

U.S. & WORLD NEWS

OPINION

Don’t Delay, Sign-up for Affordable Healthcare Today

The deadline to enroll or modify healthcare coverage under the Affordable Care Act is December 15. ...

The Skanner Editorial: Alabama Voters Must Reject Moore

Allegations of predatory behavior are troubling – and so is his resume ...

Payday Lenders Continue Attack on Consumer Protections

Charlene Crowell of the Center for Responsible Lending writes that two bills that favor predatory lenders has received bipartisan...

Hundreds Rallied for Meek Mill, but What About the Rest?

Lynette Monroe, a guest columnist for the NNPA Newswire, talks about Meek Mill, the shady judge that locked him up and mass...

AFRICAN AMERICANS IN THE NEWS

ENTERTAINMENT

Mark Thompson CNN Money

LONDON (CNNMoney) -- Signs of economic recovery are popping up in Europe. But not in Greece.

Stuck in recession for a sixth consecutive year, Greece reported a jobless rate of 27.6% in May, a new record high. The unemployment rate stood at 27% in April.

Most worrying is the rate of youth unemployment. Almost 65% of Greeks aged 15-24 are unable to find work.

The figures are adjusted to take account of seasonal fluctuations caused, for example, by an upturn in employment in tourism during the summer months.

The number of Greeks out of work has increased by nearly 200,000 to 1.38 million over the past 12 months, and by one million over five years.

Greece has been kept afloat since 2010 by funds drawn from a €240 billion bailout program financed by the European Union and International Monetary Fund.

But the emergency loans have come with tough conditions attached, including savage austerity measures that have contributed to a massive contraction of the economy. Greek GDP has shrunk by about 30% since 2008.

Alarmed by the longest recession since the euro was launched and record unemployment, EU leaders have slowed up the pace of their austerity drive in recent months. And there are signs that activity is picking up.

An easing of recession in Spain and Italy, combined with stronger data in Germany, suggests the eurozone as a whole may have managed to eke out growth in the three months to June after six consecutive quarters of contraction. The eurozone rate of unemployment may also have peaked.

After years of tax increases and spending cuts, Greece has been given the green light to cut sales tax on food and drink in restaurants to 13% from 23%.

The tax break -- which will last until the end of 2013 -- is a bid to boost spending and tourism across the country but will cost the government €100 million in lost tax revenue in the short term.

The lack of scope for further stimulus measures was reflected in a recent report by the IMF which identified an €11 billion euro funding shortfall over the next two years. That could mean Greece's eurozone partners will be called on to provide more "debt relief," a move that would be deeply unpopular, particularly in Germany.

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