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Greece: Media freedom under assault – Al Jazeera English

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2 years ago

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In a democracy, the media should keep authority and government in check. In Greece, it feels more and more that it works the other way around.

Take the story of Thanasis Koukakis, a 43-year-old financial journalist who works for CNN Greece, and contributes to CNBC, the Financial Times and the Greek investigative outlet Inside Story. Citing national security concerns, in 2020 the Greek National Intelligence Service directly administered by the prime minister’s office, intercepted his communications, while he was investigating the affairs of Greek bankers and businessmen. When the journalist became aware of this, the government tried to erase traces of the interception. Shortly after, his mobile phone was infected with the Predator spyware. The software allows the user to gain full access to a target’s phone to extract data, contacts, and messages, including those sent through encrypted applications, as well as turn on the microphone and access the camera.

Koukakis is not the only victim of interception by the National Intelligence Service. Reporters of Solomon, a team of investigative journalists researching migrant conditions in Greece, Iliana Papangeli, and Stavros Malichudis also discovered that they had been subjected to surveillance by the Greek intelligence services, which monitored their work with minors on the island of Kos.

Soon after the pair discovered the Secret Service’s interest in their reporting, they broke another story, about an NGO dealing with migrant housing that had possible ties to political figures. The response? A SLAPP (Strategic Lawsuit Against Public Participation).

In another instance, Stavroula Poulimeni, a member of a journalist cooperative called AlterThess, was sued by a gold mining executive convicted of serious environmental crimes in northern Greece. The businessman accused her of processing his “sensitive personal data” by reporting on his prior criminal conviction.

The government seems to approve of such legal gambits. A new law authorises the National Council for Radio and Television (NCRTV) to impose recurrent administrative fines on newspapers for slander. The NCRTV has jurisdiction over channels using public frequencies. This alarms the Athens Daily Newspaper Journalists’ Union, which claims that the new regulation directly violates articles involving press freedom under the Greek Constitution.

Under this law, the fines will be claimed by the majority shareholders when the company that publishes the newspaper fails to pay and will be collected by the private monopoly distributor of Argos, owned by a government-friendly media mogul. The journalist union argues that the new rule threatens the viability of the media, especially the smaller, independent ones.

A similar alarm was voiced by the Media Freedom Rapid Response, a group that monitors press freedom in the European community. “Challenges to the independence of the media and the safety of journalists are systemic in Greece,” asserted a recent report.

It argues that news that is inconvenient for the government, including probes into serious human rights violations, does not get widely reported. This causes a significant obstacle to the public’s access to information and, subsequently, their informed participation in the democratic process.

According to the MFRR immigration policy, human rights violations committed in its implementation, and the humanitarian crisis that the migrant stream has created are highly sensitive topics for the government. Journalists face obstructions including arbitrary arrest and detention, restriction of access to migration hotspots, surveillance and harassment when they try to report on these topics. And even when independent journalists rely on official information, they face a complete lack of transparency or even denial to provide information.

Going after the messenger: the cases of Vaxevanis and Papadakou

In January, Greek Prime Minister Kyriakos Mitsotakis survived a no-confidence vote tabled in parliament by the left-wing opposition over the government’s handling of a snowstorm that paralysed the country. In a speech to parliament, Mitsotakis referred to the journalists who disclosed the Novartis corruption scandal in Greece as a “gang” who are “free to exercise character assassination” – a term interpreted as a straightforward attempt to influence the judiciary.

Prosecutors had summoned Kostas Vaxevanis, the editor of the publication Documento, and Yianna Papadakou, a former television presenter, to Athens’ Supreme Court a few days earlier. They charged the two journalists with crimes linked to their reporting about government officials, including ex-ministers, who allegedly accepted bribes from the Swiss pharmaceutical corporation Novartis in order to control the pricing of specific drugs.

The accused politicians have rejected the charges, claiming they are politically motivated. This is despite the fact that the US Department of Justice in 2020 imposed a $347m fine on Novartis, due to the case. While it did not disclose any names, the company admitted to making illegal payments to Greek providers.

The anti-corruption prosecutor’s probe, which began in 2016, closed the case against two Greek lawmakers in January. A second inquiry, however, is continuing in Greece, looking into an alleged frame-up involving a former minister, the corruption prosecutors who probed the Novartis case, and the two journalists.

Participation in a criminal group, collaboration in wrongdoing and two counts of complicity in the misuse of authority are among the allegations levelled against the journalists. According to a new provision of the penal code approved only weeks ago, minor offences related to a “criminal group” will now result in actual prison sentences.

In other words, Papadakou and Vaxevanis, who reported extensively on the Novartis scandal, could see jail time. Such prosecution effectively could create a troubling precedent. It also raises concerns about whether whistleblower witnesses in the case against Novartis will continue to be considered credible, or whether they will be charged as well.

It’s worth noting that Greece was one of 17 European countries that failed to incorporate a new directive on the protection of whistleblowers in their legal systems and is now coming under pressure. The COVID-19 pandemic has added to the burden by reducing journalists’ rights to access information.

Reporters Without Borders last year ranked Greece 70th in its global index of press freedom, five positions lower than in 2020. The country’s standing has declined steadily over the previous decade, a trend that is likely to continue, judging from recent events.

The government fiercely denies those accusations, stressing that pluralism is granted in the country. But democracy is safeguarded when the press is free to speak truth to power. That should not be the job of the courts to define and decide.

Vera Jourova,  the EU Commissioner for Values and Transparency, openly warned that “the 2022 Rule of Law Report will pay particular attention to developments pertaining to the press freedom and the safety of journalists”.

These concerns have become particularly worrying in the case of the murder of crime reporter Giorgos Karaivaz, outside his home a year ago. Despite pressure from Greek and European journalists’ associations, there has been little progress in the case and those responsible have not been brought to justice.

Even conservative politicians are now raising concerns about press freedom in the country, suggesting, what many of us are afraid of, that the conservative Greek government has been seduced by the populist conservative turn of countries across Europe, and no longer strives to be part of the so-called moderate liberal conservative milieu.

The trend in Greece is indicative of the broader tension rising in some EU countries around the rule of law and the protection of freedoms – the core values of the EU. But the situation in Greece is becoming particularly grim with regard to matters of the press as problems accumulate, gradually attracting the interest of more media freedom watchdogs. Seven groups, including Reporters Without Borders and the European Federation of Journalists are now raising “serious concerns” about the case of Koukakis. The Greek government should do more to protect press freedom.

The views expressed in this article are the author’s own and do not necessarily reflect Al Jazeera’s editorial stance.

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Trump could cash out his DJT stock within weeks. Here’s what happens if he sells

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3 weeks ago

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August 23, 2024

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Former President Donald Trump is on the brink of a significant financial decision that could have far-reaching implications for both his personal wealth and the future of his fledgling social media company, Trump Media & Technology Group (TMTG). As the lockup period on his shares in TMTG, which owns Truth Social, nears its end, Trump could soon be free to sell his substantial stake in the company. However, the potential payday, which makes up a large portion of his net worth, comes with considerable risks for Trump and his supporters.

Trump’s stake in TMTG comprises nearly 59% of the company, amounting to 114,750,000 shares. As of now, this holding is valued at approximately $2.6 billion. These shares are currently under a lockup agreement, a common feature of initial public offerings (IPOs), designed to prevent company insiders from immediately selling their shares and potentially destabilizing the stock. The lockup, which began after TMTG’s merger with a special purpose acquisition company (SPAC), is set to expire on September 25, though it could end earlier if certain conditions are met.

Should Trump decide to sell his shares after the lockup expires, the market could respond in unpredictable ways. The sale of a substantial number of shares by a major stakeholder like Trump could flood the market, potentially driving down the stock price. Daniel Bradley, a finance professor at the University of South Florida, suggests that the market might react negatively to such a large sale, particularly if there aren’t enough buyers to absorb the supply. This could lead to a sharp decline in the stock’s value, impacting both Trump’s personal wealth and the company’s market standing.

Moreover, Trump’s involvement in Truth Social has been a key driver of investor interest. The platform, marketed as a free speech alternative to mainstream social media, has attracted a loyal user base largely due to Trump’s presence. If Trump were to sell his stake, it might signal a lack of confidence in the company, potentially shaking investor confidence and further depressing the stock price.

Trump’s decision is also influenced by his ongoing legal battles, which have already cost him over $100 million in legal fees. Selling his shares could provide a significant financial boost, helping him cover these mounting expenses. However, this move could also have political ramifications, especially as he continues his bid for the Republican nomination in the 2024 presidential race.

Trump Media’s success is closely tied to Trump’s political fortunes. The company’s stock has shown volatility in response to developments in the presidential race, with Trump’s chances of winning having a direct impact on the stock’s value. If Trump sells his stake, it could be interpreted as a lack of confidence in his own political future, potentially undermining both his campaign and the company’s prospects.

Truth Social, the flagship product of TMTG, has faced challenges in generating traffic and advertising revenue, especially compared to established social media giants like X (formerly Twitter) and Facebook. Despite this, the company’s valuation has remained high, fueled by investor speculation on Trump’s political future. If Trump remains in the race and manages to secure the presidency, the value of his shares could increase. Conversely, any missteps on the campaign trail could have the opposite effect, further destabilizing the stock.

As the lockup period comes to an end, Trump faces a critical decision that could shape the future of both his personal finances and Truth Social. Whether he chooses to hold onto his shares or cash out, the outcome will likely have significant consequences for the company, its investors, and Trump’s political aspirations.

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Arizona man accused of social media threats to Trump is arrested

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3 weeks ago

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August 23, 2024

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Cochise County, AZ — Law enforcement officials in Arizona have apprehended Ronald Lee Syvrud, a 66-year-old resident of Cochise County, after a manhunt was launched following alleged death threats he made against former President Donald Trump. The threats reportedly surfaced in social media posts over the past two weeks, as Trump visited the US-Mexico border in Cochise County on Thursday.

Syvrud, who hails from Benson, Arizona, located about 50 miles southeast of Tucson, was captured by the Cochise County Sheriff’s Office on Thursday afternoon. The Sheriff’s Office confirmed his arrest, stating, “This subject has been taken into custody without incident.”

In addition to the alleged threats against Trump, Syvrud is wanted for multiple offences, including failure to register as a sex offender. He also faces several warrants in both Wisconsin and Arizona, including charges for driving under the influence and a felony hit-and-run.

The timing of the arrest coincided with Trump’s visit to Cochise County, where he toured the US-Mexico border. During his visit, Trump addressed the ongoing border issues and criticized his political rival, Democratic presidential nominee Kamala Harris, for what he described as lax immigration policies. When asked by reporters about the ongoing manhunt for Syvrud, Trump responded, “No, I have not heard that, but I am not that surprised and the reason is because I want to do things that are very bad for the bad guys.”

This incident marks the latest in a series of threats against political figures during the current election cycle. Just earlier this month, a 66-year-old Virginia man was arrested on suspicion of making death threats against Vice President Kamala Harris and other public officials.

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Trump Media & Technology Group Faces Declining Stock Amid Financial Struggles and Increased Competition

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August 20, 2024

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Trump Media & Technology Group’s stock has taken a significant hit, dropping more than 11% this week following a disappointing earnings report and the return of former U.S. President Donald Trump to the rival social media platform X, formerly known as Twitter. This decline is part of a broader downward trend for the parent company of Truth Social, with the stock plummeting nearly 43% since mid-July. Despite the sharp decline, some investors remain unfazed, expressing continued optimism for the company’s financial future or standing by their investment as a show of political support for Trump.

One such investor, Todd Schlanger, an interior designer from West Palm Beach, explained his commitment to the stock, stating, “I’m a Republican, so I supported him. When I found out about the stock, I got involved because I support the company and believe in free speech.” Schlanger, who owns around 1,000 shares, is a regular user of Truth Social and is excited about the company’s future, particularly its plans to expand its streaming services. He believes Truth Social has the potential to be as strong as Facebook or X, despite the stock’s recent struggles.

However, Truth Social’s stock performance is deeply tied to Trump’s political influence and the company’s ability to generate sustainable revenue, which has proven challenging. An earnings report released last Friday showed the company lost over $16 million in the three-month period ending in June. Revenue dropped by 30%, down to approximately $836,000 compared to $1.2 million during the same period last year.

In response to the earnings report, Truth Social CEO Devin Nunes emphasized the company’s strong cash position, highlighting $344 million in cash reserves and no debt. He also reiterated the company’s commitment to free speech, stating, “From the beginning, it was our intention to make Truth Social an impenetrable beachhead of free speech, and by taking extraordinary steps to minimize our reliance on Big Tech, that is exactly what we are doing.”

Despite these assurances, investors reacted negatively to the quarterly report, leading to a steep drop in stock price. The situation was further complicated by Trump’s return to X, where he posted for the first time in a year. Trump’s exclusivity agreement with Trump Media & Technology Group mandates that he posts personal content first on Truth Social. However, he is allowed to make politically related posts on other social media platforms, which he did earlier this week, potentially drawing users away from Truth Social.

For investors like Teri Lynn Roberson, who purchased shares near the company’s peak after it went public in March, the decline in stock value has been disheartening. However, Roberson remains unbothered by the poor performance, saying her investment was more about supporting Trump than making money. “I’m way at a loss, but I am OK with that. I am just watching it for fun,” Roberson said, adding that she sees Trump’s return to X as a positive move that could expand his reach beyond Truth Social’s “echo chamber.”

The stock’s performance holds significant financial implications for Trump himself, as he owns a 65% stake in Trump Media & Technology Group. According to Fortune, this stake represents a substantial portion of his net worth, which could be vulnerable if the company continues to struggle financially.

Analysts have described Truth Social as a “meme stock,” similar to companies like GameStop and AMC that saw their stock prices driven by ideological investments rather than business fundamentals. Tyler Richey, an analyst at Sevens Report Research, noted that the stock has ebbed and flowed based on sentiment toward Trump. He pointed out that the recent decline coincided with the rise of U.S. Vice President Kamala Harris as the Democratic presidential nominee, which may have dampened perceptions of Trump’s 2024 election prospects.

Jay Ritter, a finance professor at the University of Florida, offered a grim long-term outlook for Truth Social, suggesting that the stock would likely remain volatile, but with an overall downward trend. “What’s lacking for the true believer in the company story is, ‘OK, where is the business strategy that will be generating revenue?'” Ritter said, highlighting the company’s struggle to produce a sustainable business model.

Still, for some investors, like Michael Rogers, a masonry company owner in North Carolina, their support for Trump Media & Technology Group is unwavering. Rogers, who owns over 10,000 shares, said he invested in the company both as a show of support for Trump and because of his belief in the company’s financial future. Despite concerns about the company’s revenue challenges, Rogers expressed confidence in the business, stating, “I’m in it for the long haul.”

Not all investors are as confident. Mitchell Standley, who made a significant return on his investment earlier this year by capitalizing on the hype surrounding Trump Media’s planned merger with Digital World Acquisition Corporation, has since moved on. “It was basically just a pump and dump,” Standley told ABC News. “I knew that once they merged, all of his supporters were going to dump a bunch of money into it and buy it up.” Now, Standley is staying away from the company, citing the lack of business fundamentals as the reason for his exit.

Truth Social’s future remains uncertain as it continues to struggle with financial losses and faces stiff competition from established social media platforms. While its user base and investor sentiment are bolstered by Trump’s political following, the company’s long-term viability will depend on its ability to create a sustainable revenue stream and maintain relevance in a crowded digital landscape.

As the company seeks to stabilize, the question remains whether its appeal to Trump’s supporters can translate into financial success or whether it will remain a volatile stock driven more by ideology than business fundamentals.

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