Preheat oven at 160° C.
1. Combine the olive oil, brandy, orange juice, sugar and grated orange rind, and beat well.
2. Add the baking powder and soda to the flour.
3. Transfer the oil mixture to a large bowl and add gradually add the flour.
4. Knead and then form the melomakarona into small rounds or oval shapes.
5. Once this has been done, gently press each melomakarono against the surface of a grater in order to leave a decorative pattern on each one.
6. Put the melomakarona in a baking pan and bake for an hour. Allow to cool in the pan.
7. In a saucepan, add the honey, the sugar and 2 cups of water.
8. Boil the syrup for about 5 minutes.
9. Skim the foam off the top, add the cinnamon sticks and then pour the hot syrup over the cold melomakarona.
10. Sprinkle with the crushed walnut and a little cinnamon.