News sees Italy’s borrowing costs rise and share prices fall, and EU leaders worry about possible spillover into Spain The Guardian, Monday 10 December 2012 16.14 EST Mario Monti, Mariano Rajoy and Antonis Samaras, the prime ministers of Italy,… Read More ›
European Central Bank
Greece Cancels Christmas as Austerity Measure
Greece votes to cancel Christmas, along with all other paid holidays for public servants—but European financial leaders say its austerity triage might be too little, too late. by Barbie Latza Nadeau | November 8, 2012 1:57 PM EST Just… Read More ›
RT: Greece can easily slide into Civil War
Thursday, 08 November 2012 Greece risks sliding into a civil war, unless officials in Athens follow Iceland’s example and default on the country’s loans, journalist Charlie McGrath told RT. Charlie McGrath from Wide Awake News says Greece needs to admit… Read More ›
Ahead of key votes, Greek PM warns of euro exit
04Nov2012 ATHENS (AFP) Greek Prime Minister Antonis Samaras warned again Sunday that the debt-crippled country could be forced out of the euro if parliament fails to approve a new round of austerity measures needed for a lifeline from creditors. “We… Read More ›
Spain and Italy criticise Berlin plan for EU to police budgets
Europe divided over German proposals for a ‘super commissioner’ who could punish nations with large deficit Giles Tremlett in Madrd The Guardian, Monday 29 October 2012 16.53 EDT Spain’s prime minister Mariano Rajoy said about plans for an EU ‘super commissioner:… Read More ›
Cash-strapped Cyprus plots Russian exit from austerity
It has been three years since I was last in Paphos, a resort on Cyprus’s west coast, and at first glance not much has changed. Fishing boats in Paphos Harbour, Pafos, Pafos District, Cyprus. Photo: Alamy <!– remove the whitespace… Read More ›
General strike to shut down services in Greece: 70% of it is caught between poverty and destitution
Updated: 07:40, Thursday, 18 October 2012 Unions in Greece are holding another general strike against the country’s austerity program, as European leaders gather for a summit in Brussels. Greek journalists and media workers staged a strike yesterday Today’s strike is… Read More ›
Germany shocks EU with fiscal overlord demand, to Counter the competition Tsar the arch-enforcer of the EU machine. After taking on contingent liabilities of €2 trillion
Germany has stated its exorbitant price for keeping Greece in the euro and agreeing to mass bond purchases by the European Central Bank. Finance minister Wolfgang Schaeuble dropped his bombshell in talks with German journalists on a flight from Asia…. Read More ›
IMF needing more Donations..Obama administration is waiting till after elections to donate tax payer money
Finance leaders back EU, U.S. to-do list to shield growth Sat, Oct 13 2012 By Anna Yukhananov and Tetsushi Kajimoto TOKYO (Reuters) – World finance leaders on Saturday endorsed a checklist of policy reforms aimed at pressuring Europe and the… Read More ›
Debt crisis: ECB board member shuts door on Greek pleas for leniency: it would be illegal and “illogical”
Greece cannot have more time to repay its debt to the European Central Bank because it would be illegal and “illogical”, board member Joerg Asmussen has said, as he shut the door on pleas for leniency from the bank. Last… Read More ›
Ten more years of pain: World economy will stay in crisis for at least another decade, says IMF chief economist
Olivier Blanchard was speaking to Hungarian website Portfolio.hu He said Germany would have to accept higher inflation and a real strengthening of its purchasing power He said U.S. still has big problems to solve Japan’s crisis ‘may take decades to… Read More ›
Debt crisis: troika demand even tougher austerity on stricken Greece
Greece’s international creditors are demanding the imposition of even tougher austerity measures despite the delivery this week of Antonio Samara’s hard-won €13.5bn package of cuts. Protester sitting in wheelchair waits along with other protesters for troika inspectors to arrive Photo:… Read More ›
European Central Bank and the Federal Reserve succesful in their plan to devalue the Dollar to protect the Euro
US Dollar takes a Hit Sunday, 30 September 2012 The Dollar Index fell by the most since the first quarter of 2011 after the European Central Bank pledged to protect the euro from unraveling and the Federal… Read More ›
Spain’s rising debt costs eat up austerity gains: separatist crises in Catalonia and the Basque region that threaten to break the country apart.
Spain has pushed through €40bn of fresh austerity measures in the teeth of recession, despite violent protests across the country and separatist crises in Catalonia and the Basque region that threaten to break the country apart. Spanish PM Mariano Rajoy… Read More ›
Spain must leave the euro: ” Spain is damned if it leaves, but damned for eternity if it stays”
Mario Draghi’s promise to do “whatever it takes” to save the euro never did look like inducing any more than a temporary lull in the storm; still less did the German Constitutional Court’s thumbs up to the European bail-out fund… Read More ›
Spanish Ire, Symbolized by a Carrot: Central Government is Losing Control
September 26, 2012 By RAPHAEL MINDER MADRID — As Spanish domestic politics threaten to spin beyond the control of the central government, they are also making it harder for Prime Minister Mariano Rajoy to meet Spain’s financial obligations to the… Read More ›
Anti-cuts protests erupt on streets of Athens and Madrid: ” 70,000 people marched to the Greek parliament chanting “EU, IMF Out!”
5:32pm EDT By Renee Maltezou and Julien Toyer ATHENS/MADRID (Reuters) – Demonstrators have clashed with police on the streets of Athens and Madrid in an upsurge of popular anger at new austerity measures being imposed on two of the euro… Read More ›
Troika report on Greece could be delayed until US election: The Obama administration doesn’t want anything on a macroeconomic scale that is going to rock the global economy before November 6,”
An EU-IMF report on Greece’s debt could be delayed until after November 6, EU officials and diplomats say. The EU politicians want to avoid any shock to the global economy before the US presidential election, Reuters said. The report by… Read More ›
Greeks stage mock hangings in protest at austerity measures as European Central Bank riles Germans with euro debt plan: With the Support of Greek Security Forces
Nearly 2,000 members of the Greek security forces attended rally in protest at austerity measures and proposed pay cuts Took place on same day as ECB launched new plan to save the euro by buying the debt of troubled eurozone… Read More ›
Eurozone demands six-day work week for Greece, set the minimum daily rest to 11 hours
Eurozone demands six-day week for Greece Government in Athens under pressure to introduce a six-day working week as part of the terms for a second bailout Ian Traynor in Brussel guardian.co.uk, Tuesday 4 September 2012 15.37 EDT Terms for… Read More ›
Finland prepares for break-up of eurozone
Finland is preparing for the break-up of the eurozone, the country’s foreign minister warned today By Ambrose Evans-Pritchard, in Helsinki 9:00PM BST 16 Aug 2012 The Nordic state is battening down the hatches for a full-blown currency crisis as… Read More ›
Engineering Evil 