This Week in History: July 3rd to 9th
(WorldNews Greece)

July 3rd: On this day in 1909, Stavros Niarchos, the Greek shipping magnate, was born in Athens, Greece. Niarchos was born in Athens but his family had its roots in the Laconian village of Vamvakou in the Peloponnese. He studied law at the University of Athens and began working his family’s grain business in 1929. Recognizing the substantial transportation expense in importing wheat, Niarchos believed that one would save money by owning the ships that provided the transportation. As a result, he bought his first six freighters during the Great Depression. Niarchos served in the Greek Navy during World War II. While he served, the Allied Forces leased one of his vessels which was...