The Greek government debt crisis is one of a number of current European sovereign debt crises . Beginning in late 2009, fears of a sovereign debt crisis developed among investors concerning Greece's ability to meet its debt obligations due to strong increase in government debt levels. This led to a crisis of confidence, indicated by a widening of bond yield spreads and the cost of risk insurance on credit default swaps compared to the other countries in the Eurozone , most importantly Germany. Downgrading of Greek government debt to junk bond status in April 2010, created alarm in financial markets. On 2 May 2010, the Eurozone countries and the IMF agreed on a €110 billion bailout loan for Greece, conditional on the implementation of harsh austerity measures. In October 2011, Eurozone leaders agreed to offer a second €130 billion bailout loan for Greece, conditional not only the implementation of another harsh austerity package, but also that all private creditors should agree to a restructure of the Greek debt, reducing the debt burden from a forecasted 198% of GDP in 2012 to only 120.5% of GDP by 2020. The second bailout deal was finally ratified by all parties in February 2012, and became activated one month later, after the last condition about a successful debt restructure of all Greek government bonds, also had been met. Money-wise the latest bailout plan is set to cover all Greek financial needs in the next three years from 2012-2014. If Greece can manage to comply with all economic targets outlined in the bailout plan, a full return to use the private capital markets for covering future financial needs, will be possible again in 2015. (wikipedia)
Critiques | Translate
altay1364 (0) 2012-04-04 8:56
Clarity, compo, sharpness and colors is very good. Very well done. By Respects
mohammad_H (10058) 2012-04-04 8:58
Very eye catching and beautiful and fascinating area of my boat and the flag of your country Tern. Silence and calm beach and everyday life. Color and good clarity .. great record.
Bluejeans (64251) 2012-04-04 10:27
Ficou muito bonita esta tua fotografia a preto e branco deixando a bandeira da Grécia em azul, bom grafismo conseguido , parabéns !!!
Um abraço Gonçalo
bona (13739) 2012-04-04 11:10
this photo is really good! I like the selective desaturation here with the Greek flag in clors. The sharpness is superb. Love the gulls here.
xavshot (69835) 2012-04-04 12:51
j'aime beaucoup cette image. je la trouve équilibrée et les teintes choisies me plaisent beaucoup. Bravo.
mesutilgim (96744) 2012-04-04 14:19
Hello dear Vasilis,
Very nice b&w capture with great symbolism !
Many interesting notes and perfect technique.
I wish all the best that those dark days will soon be gone away and your country and citizens of Greece will sail towards better days !
All the best ny friend
and best regards
mauro61 (52857) 2012-04-04 20:38
parziale desaturazione che giova alla bellezza dell'immagine con la bandiera unico punto di colore.
Ben catturato il volo dei gabbiani attorno alla nave,
Sonata11 (33971) 2012-04-04 20:49
wonderful composition and great frame with the Greek flag and seagulls flying around. Well done in B&W color. Wonderful effect. Awesome shot.
All the best,
abmdsudi (57168) 2012-04-04 22:02
I like your ideas and approach with this eye catching simple subject in selective coloring. Exposure is well managed and good toning depicting a fine effect yet looks so good. Those sea bird makes the shot even more attractive. This is a cleverly planned shot. Well done .Congrats
federico (4281) 2012-04-04 23:25
hello vasilis, until Greece will have talents and creativity like your there will be a bright future for your motherland
emka (104216) 2012-04-04 23:57
meaningful photo. Interesting shot with blacka nd white and only Greek flag is in colour. What to say? I hope that the probklems will be somehow resolved and our Greek friends wiill look in fure with better perspectives.
have a beautiful Easter
timecapturer (49288) 2012-04-05 3:25
a clever and beautifully conceived shot. A Greek tourist board image full of wonderfully attractive elements and presented superbly. A tribute to a country that I love and admire. Hope things improve quicker than the pundits predict. History has shown that your nation has the resilience and strong character to overcome these uncertain and difficult times.
Regards - Brian.
Royaldevon (41819) 2012-04-05 7:17
A most effective partial desaturation which explains the nationality of the area. There is a lovely implied movement both from the flag and the following birds.
I wish the Greek people well and hope the money problems can soon be rectified. I would hate to think it may deter people from visiting this beautiful, hospitable country.
My warm regards,
dkmurphys (62855) 2012-04-06 2:56
Very dynamic capture, a wonderful sailing composition. Well taken, enjoy a fine weekend.
diafani (1143) 2012-04-06 5:01
Nice subtle use of colors, and a good reminder of Greece's situation for us in the rest of the world. Thank you Vasilis.
- Copyright: Vasilis Protopapas (vasilpro) (41661)
- Genre: Places
- Medium: Black & White
- Date Taken: 2011-08-28
- Categories: Decisive Moment
- Camera: Nikon D90, Nikon AF-S VR 18-105mm f/3.5 - 5.6G ED, Hoya 62mm Circular Polarizer
- Exposure: f/7.1, 1/200 seconds
- More Photo Info: view
- Photo Version: Original Version
- Theme(s): Athens - Pireaus (Attica prefecture) [view contributor(s)]
- Date Submitted: 2012-04-04 8:20