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Keyword: eu

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  • Spanish and Italian commercial real estate markets meltdown

    08/14/2012 6:07:38 AM PDT · by TigerLikesRooster · 7 replies
    American Thinker ^ | 08/13/12 | Rick Moran
    August 13, 2012 Spanish and Italian commercial real estate markets meltdown Rick Moran My jaw dropped when I read this Financial Times report on the commercial real estate markets in Spain and Italy: The Spanish and Italian commercial property markets have all but collapsed with the number of transactions in both countries falling more than 90 per cent in the three months to July as investors worry about the future of the eurozone. Only three property transactions were registered in Spain during the second quarter, down from 58 deals in the previous quarter. In Italy the slide was even more...
  • Europe's quixotic plan to "clean" the Internet of terrorists

    08/11/2012 9:57:42 AM PDT · by JerseyanExile · 3 replies
    Goldstein Report ^ | August 10, 2012
    Delegates from Germany, Spain, the United Kingdom, the Netherlands, Belgium, and Europol -- the European Union's criminal intelligence agency -- will gather in London this September as part of a project to cleanse the Internet (or at least the European section of the Internet) from "terrorist websites." And they have European Union money to do it. The CleanIT project hopes to develop a flagging system for "terrorist" content. It wouldn't be mandatory, but Internet providers would be encouraged to take down or block the flagged material. The aim is to create "a non-legislative 'framework' that consists of general principles and...
  • Amid crisis, Europeans flock to learn Chinese

    07/30/2012 2:08:04 PM PDT · by Olog-hai · 6 replies
    EU Observer ^ | 07.30.2012 @ 09:27 | Philip Ebels
    Ever since Europe’s economy began spiraling downwards, a growing number of people from Dublin to Athens is taking to learning the language of opportunity: Chinese. Aggregate data are not available, but figures from local language centers across the continent suggest that the number of people in Europe enlisted in taking the official Chinese Proficiency Test—or HSK—over the last two years has grown by close to a factor five. “I think the economic reason plays a very important role,” says Lili Lei of the Confucius Institute in Munich, where the number of students rose by more than 100 percent in 2011...
  • Fortified by euro, Finns take bailouts on the chin

    07/27/2012 7:03:14 AM PDT · by george76 · 2 replies
    Reuters ^ | July 27, 2012 | Ritsuko Ando
    After dutifully abiding by EU fiscal rules, Finland's tiny population remains surprisingly phlegmatic about bailing out less disciplined euro zone members, and is mostly clinging on to its faith in the single currency project. That faith has been tested as a succession of struggling nations make ever greater demands on the sounder economies in the currency bloc, but it is not yet at breaking point. "We had to sort out our own problems ourselves in the past. That's why people are asking, do we have to help others?" said Maija Siirala, a freelance dressmaker and alterations specialist. Finland, one of...
  • EU: Hizbullah Not a Terror Organization

    07/24/2012 12:49:01 PM PDT · by Eleutheria5 · 17 replies
    Arutz Sheva ^ | 24/7/12 | Gabe Kahn
    The European Union on Tuesday rejected Israel's request that it categorize Hizbullah as a terrorist organization. Cypriot Foreign Minister Gujarat Cossack-Marcolis, who presently holds the EU's rotating presidency, said "there is no consensus on the issue, because Hizbullah also has an active political arm." She added that the matter is open for reconsideration if "tangible evidence" that Hizbullah is involved in terrorist activity can be brought. .....
  • Barroso Talks Peace and Iran with Netanyahu

    07/09/2012 3:53:04 PM PDT · by Eleutheria5 · 2 replies
    Arutz Sheva ^ | 10/7/12 | Elad Benari
    José Manuel Barroso, the President of the European Commission, met on Monday with Prime Minister Binyamin Netanyahu. The two leaders “discussed the importance of expanding cooperation between Israel and Europe in all areas, Iran's effort to arm itself with nuclear weapons and the resumption of the peace talks with the Palestinians,” Netanyahu's office said in a statement quoted by AFP. European Union officials said in a statement that the two leaders “also discussed the regional situation with president Barroso stating the EU's support for democratic change and political and economic reforms in the wider neighborhood.” The statement added, “They also...
  • European Commission Chief in Ramallah: Resume Peace Talks

    07/09/2012 2:53:06 PM PDT · by Eleutheria5 · 3 replies
    Arutz Sheva ^ | 9/7/12 | Elad Benari
    European Commission chief Jose Manuel Barroso called on Sunday for a return to talks between Israel and the Palestinian Authority, warning the peace process must not become “an orphan of the Arab Spring.” AFP quoted Barroso as having made the remarks during a trip to Ramallah, where he met PA Prime Minister Salam Fayyad and PA Chairman Mahmoud Abbas. “The momentous change that we are witnessing throughout the Arab world should constitute an incitement and not a deterrent to the resumption of negotiations,” Barroso said after meeting Fayyad, according to an advance copy of his remarks. “The Middle East peace...
  • Finland Would Rather Exit Euro Than Pay for Others

    07/06/2012 11:34:00 PM PDT · by TigerLikesRooster · 32 replies
    WSJ ^ | 07/06/12
    Finland Would Rather Exit Euro Than Pay for Others Finland would rather leave the euro zone than pay down the debt of other countries in the currency bloc, Finnish Finance Minister Jutta Urpilainen said in a newspaper interview Friday. "Finland is committed to being a member of the euro zone, and we think that the euro is useful for Finland," Urpilainen told financial daily Kauppalehti, adding though that "Finland will not hang itself to the euro at any cost and we are prepared for all scenarios." "Collective responsibility for other countries' debt, economics and risks; this is not what we...
  • UN calls for 'billionaires tax' to help world's poor

    07/06/2012 4:04:28 PM PDT · by Beave Meister · 14 replies
    Yahoo News ^ | 7/6/2012 | Tim Witcher
    The United Nations on Thursday called for a tax on billionaires to help raise more than $400 billion a year for poor countries. An annual lump sum payment by the super-rich is one of a host of measures including a tax on carbon dioxide emissions, currency exchanges or financial transactions proposed in a UN report that accuses wealthy nations of breaking promises to step up aid for the less fortunate. The annual World Economic and Social Survey says it is critical to find new ways to help the world's poor as pledged cash fails to flow. The report estimates that...
  • EU: German Dominance in Doubt after Summit Defeat

    07/02/2012 11:30:44 PM PDT · by bruinbirdman · 9 replies
    Spiegelonline ^ | 7/2/2012 | SPIEGEL Staff
    Outfoxed by Club Med Chancellor Merkel suffered a bruising defeat at last week's Brussels summit after leaders of Italy, Spain and France ganged up on her. Europe's power relations have shifted as a result. It looks like Germany will no longer be calling the shots in the EU. It was Monti, of all people, "Super Mario," as he's called in Berlin. The affable economics professor from Lombardy, the man the German Chancellery felt was the best thing that could have happened to Italy. The man who could "save Europe," at least according to Time magazine. It was Monti, of all...
  • Eurozone unemployment hits record high

    07/02/2012 6:49:06 PM PDT · by NoLibZone · 8 replies ^ | July 2 2012 | Financial Times
    The European Central Bank is widely expected to make an interest rate cut this week to try to invigorate the eurozone’s ailing economy after unemployment in the region climbed to a record high and a key survey of manufacturing showed the sector to be at its weakest in three years.
  • Iran: We Will 'Confront' New EU Sanctions

    07/01/2012 4:27:22 AM PDT · by edpc · 2 replies
    AP via Yahoo News ^ | 1 July 2012 | Nasser Karimi
    TEHRAN, Iran (AP) — Iran has stored up imports and hard currency for a "battle" against "dastardly" EU sanctions, officials said Sunday, the day that the measures aimed at pressuring the Islamic Republic over its controversial nuclear program take effect. Vice President Mohammad Reza Rahimi said the country has stockpiled the population's daily needs to reduce the impact of the embargo hitting the oil and banking sectors. "Today, we are facing the heaviest of sanctions and we ask people to help officials in this battle," Rahimi was quoted by state television's website as saying at a religious conference. He said...
  • Strap Yourselves in: Jim Rogers Explains Why We Are Going to Have ‘Financial Armageddon’

    06/29/2012 9:04:00 AM PDT · by Perseverando · 32 replies
    The Blaze ^ | June 29, 2012 | Becket Adams
    Leaders of the 17-nation eurozone announced on Friday a plan to rescue their failing banks with cash normally reserved for fledgling governments. When the “recapitalization” (i.e. bailout) plan was unveiled, markets responded very, very well. However, despite the positive market reaction, at least one veteran businessman thinks the deal is a big mistake. In fact, he thinks it’s only making things worse. According to Quantum Fund co-founder, free market advocate, author, and regular lecturer of finance at the Columbia University Graduate School of Business Jim Rogers, the EU’s decision to recapitalize its banks won’t do anything to fight off the...
  • Nigel Farage [on Fox w commentary by Bill Still]

    06/29/2012 7:28:40 AM PDT · by Lorianne · 2 replies
    You Tube ^ | 27 June 2012 | Bill Still, Nigel Farage
    Nigel Farage (MEP-UK) interviewed on Fox ... with commentary by Bill Still I could not find the Fox interview on its own.
  • The Whole World Will Revolve Around The Tiny Island Of Cyprus

    06/28/2012 6:35:58 AM PDT · by blam · 6 replies
    TBI ^ | 6-28-2012 | Wolf Richter, Testosterone Pit
    The Whole World Will Revolve Around The Tiny Island Of Cyprus Wolf Richter, Testosterone Pit Jun. 28, 2012, 8:41 AM Finland doesn’t get the white-hot attention Germany does, but it should because it could be the driving force behind a breakup of the Eurozone. And it fired another shot: it demanded collateral for its share of the billions of euros that Cyprus would receive from the bailout Troika. Cyprus is the fifth of 17 Eurozone countries to ask for a bailout. It’s panic time. The first tranche, €1.8 billion, is needed by June 30 to prop up its second largest...
  • The New Siegfried Line: Merkel Dismisses EuroBonds and EuroFDIC While Spain and Cyprus Seek Aid

    06/25/2012 9:53:02 AM PDT · by whitedog57
    Confounded Interest ^ | 06/25/2012 | Anthony B. Sanders
    Chancellor Angela Merkel hardened her resistance to euro-area debt sharing to resolve the region’s financial crisis, setting Germany on a collision course with its allies at a summit of European leaders this week. Merkel, speaking to a conference in Berlin today as Spain announced it would formally seek aid for its banks, dismissed “euro bonds, euro bills and European deposit insurance with joint liability and much more” as “economically wrong and counterproductive,” saying that they ran against the German constitution. [Bloomberg] So it seems that the Germans are building a new Siegfried Line to protect itself from France and other...
  • First Time Someone in U.S. Officialdom Puts Brakes on WWII-Unrepentant Croatia’s EU Entry

    06/23/2012 2:16:41 PM PDT · by Ravnagora · 8 replies
    Republican Riot ^ | June 22, 2012 | Julia Gorin
    It turns out that someone at the State Department knew all along that Croatia never answered for its Nazi past and shouldn’t just sail into the EU un-scrutinized and unreformed. Unfortunately, it’s a bit late. This former Under Secretary of State, Stuart Eizenstat, could have spoken up when Croatia was put on the fast-track in the mid-2000s, or even as late as last year, when the final stage of accession began; Croatia will be an EU member by mid next year. Still, one is grateful for the following item from Thursday’s Haaretz (and please don’t be fooled by the paper’s...
  • Bleak Outlook Whips Stocks (dow -250)

    06/21/2012 4:02:13 PM PDT · by TigerLikesRooster · 9 replies
    Bleak Outlook Whips Stocks . By CHRIS DIETERICH And LIAM PLEVEN Facing a darkening global economic picture, investors drove U.S. stocks to their worst day in three weeks and sent oil prices tumbling below $80 a barrel. Investors in the U.S. awoke to a barrage of weak economic reports from China and Europe. They were followed swiftly by a report by the Federal Reserve Bank of Philadelphia showing manufacturing conditions contracting in the U.S. mid-Atlantic region. /snip The Dow Jones Industrial Average fell 250.82 points, or 1.96%, to 12573.57, its second-biggest decline this year. In commodities, oil fell 3.99% to...
  • Russia Lashes Out Over Stop of Syria-bound Ship

    06/21/2012 2:48:24 PM PDT · by lbryce · 16 replies
    CBS NEWS ^ | June 21, 2012 | Staff
    Russia's foreign minister lashed out at Britain on Thursday for pressuring a Russian-operated ship heading to Syria with a load of weapons to turn back, saying that Moscow won't abide by European Union sanctions against its Arab ally. Sergey Lavrov said a British insurer's decision to remove the ship's coverage reflected the "unreliability of the British insurance system." He also said the British government defied international law by asking the insurance company to act. "The EU sanctions aren't part of the international law," he said on nationally broadcast Ekho Moskvy radio. Britain has joined the United States and other countries...
  • JetBlue’s ‘4 Hours of Hell’(Kept Flying Because It Couldn't Dump Fuel:R Airbus Designers Depraved?

    06/20/2012 10:14:52 AM PDT · by lbryce · 60 replies
    New York Post ^ | June 20, 2012 | Bill Sanderson
    A mechanical failure sent a JetBlue plane like this one careening wildly through the skies, sparking panic among the 155 people aboard the Las Vegas to New York flight, passengers told The Post yesterday. “It was four hours of hell,” said Travis McGhie, who described how the plane kept lurching from side to side and going into steep turns when its hydraulic system failed Sunday. “People were getting sick. Some people were throwing up. There were a lot of people getting nauseous,” said another passenger, Tom Mizer. The crew did everything they could to prevent panic. One flight attendant walked...
  • EC President Blames US For Financial Crisis in Europe

    06/19/2012 6:44:03 AM PDT · by Kaslin · 23 replies ^ | June 19, 2012 | Mike Shedlock
    The G-20 summit off to a great start if you like fireworks, endless bickering, and finger-pointing. Otherwise these summits are totally useless. When asked by a Canadian journalist "Why should North Americans risk their assets to help Europe?" EC President José Barroso replied "Frankly, we are not here to receive lessons in terms of democracy or in terms of how to handle the economy." The Guardian has further details in Barroso blames eurozone crisis on US banks. The opening day of the G20 summit was threatening to deteriorate into a fractious row between eurozone countries and other non-European members of...
  • Time for the Fed to Twist and Shout Again

    06/19/2012 6:11:41 AM PDT · by TigerLikesRooster · 1 replies
    WSJ ^ | 06/19/12 | NICHOLAS HASTINGS
    Time for the Fed to Twist and Shout Again By NICHOLAS HASTINGS The U.S. Federal Reserve is likely to hang on to its real monetary ammunition for now. Uncertainty over global growth, the continued debt threat to the euro and the so-called "fiscal cliff" that faces the U.S. all mean that the central bank will likely reserve a third dose of quantitative easing in case it is needed later on. Instead, the Fed is likely to use its meeting this week to counter the recent slowdown in the U.S. economy with an extension of Operation Twist--a system of selling short-term...

    06/18/2012 10:46:33 AM PDT · by blam · 33 replies
    TBI ^ | 6-18-2012 | Simone Foxman
    MERKEL WON'T BUDGE, SPAIN AND ITALY GET DESTROYED Simone Foxman June 18, 2012, 11:40 AM The Spanish IBEX 35 and the Italian FTSE MIB got crushed today, after Greek elections failed to reassure markets that anything has changed for the troubled Spain and Italy. Comments from German Chancellor Angela Merkel worsened the blow. She told reporters near the end of European trading that she will not budge on the terms of the Greece aid package. In core Europe, the DAX held on to gains to end just slightly higher, but the French CAC 40 fell 1 percent. That negativity appears...
  • Greece Election Results- LIVE THREAD (polls Close at 11AM EDT)

    06/17/2012 8:05:24 AM PDT · by tcrlaf · 142 replies
    Various | 6-17-12 | TCRLAF
    Here we go again, Groundhog Day. And likely with almost the same result as last time likely. Interesting quote: Condemning the outside interference in the election, Greek blogger Nick Malkoutzis, who is also deputy editor of deputy editor of Kathimerini English Edition, writes that "Europe that has become scared of democracy". UK Guardian is Live-Bogging, with updates every minute:
  • Greece will have to leave EMU whoever is elected

    06/17/2012 2:23:08 PM PDT · by bruinbirdman · 15 replies
    The Telegraph ^ | 6/17/2012 | Ambrose Evans-Pritchard
    The exact circumstances and timing of Greece’s ejection from monetary union no longer have any systemic importance for global finance. The damage has already been done. The precedent of EMU break-up is by now priced into the credit markets. Formalising it changes little. Central banks across the world are standing ready to shower markets with emergency liquidity. A dust-up in Athens is the excuse they need to launch a fresh blitz of stimulus as the global economy flirts with recession once again. Fed chair Ben Bernanke requires a crisis somewhere to outflank his own hawks and slip another round of...
  • Pro-bailout party wins Greek election

    06/17/2012 1:04:42 PM PDT · by SeekAndFind · 17 replies
    MSNBC ^ | 06/17/2012
    ATHENS -The pro-bailout New Democracy party came in first Sunday in Greece's national election, and its leader has proposed forming a pro-euro coalition government. "The Greek people voted today to stay on the European course and remain in the euro zone... there will be no more adventures, Greece's place in Europe will not be put in doubt," New Democracy leader Antonis Samaras said. He said voters chose "policies that will bring jobs, growth, justice and security. His party beat the anti-bailout Syriza party, which wanted to cancel Greece's international bailouts. Syriza chief Alexis Tsipras conceded the election but vowed to...
  • This Is What The Greek Election Results Mean

    06/17/2012 9:29:14 AM PDT · by blam · 27 replies
    TBI ^ | 6-17-1012 | Simone Foxman
    This Is What The Greek Election Results Mean Simone Foxman June 17, 2012 The first exit polls are out in Greece, and it looks like New Democracy is in the lead, albeit by a tiny margin. While these are just early results, this could bring either a huge sigh of relief to Europe--or another disastrous deadlock. If New Democracy is able to hold out in front as more results roll in, it will get a 50 seat bonus. Then it's all up to PASOK to win enough support to allow the two pro-bailout parties to form a coalition. Good news...
  • Greek Vote Could End In A Nightmare Scenario Stalemate

    06/17/2012 5:30:50 AM PDT · by blam · 15 replies
    TBI ^ | 6-17-2012 | Joe Weisenthal
    REPORT: Greek Vote Could End In A Nightmare Scenario Stalemate Joe Weisenthal June 17, 2012ATHENS, GREECE -- An FT report saying that the Greek vote is set to end in "stalemate" is the buzz of the moment. The gist is that the election could have a nightmare outcome, where still no party captures enough support so that a coalition government might be formed. Remember, the whole reason Greece is voting right now is because this is what happened at the May 6 election. But people here have been skeptical of this outcome. For one thing, the assumption is that the...
  • Ailing Athens (A tour through the Acropolis (or what's left of it))

    06/15/2012 4:26:27 AM PDT · by SeekAndFind · 12 replies
    National Review ^ | 06/15/2012 | Daniel Freedman
    Athens — “I’m very sorry sir, but I can confirm that your hotel in Athens no longer exists.” We were due to fly to Athens in a few hours, and the manager of our hotel on the Greek island of Santorini was apologetic. “It’s not uncommon these days,” he continued, shaking his head; “between high debts and the bleak economic future, many hotels are just shutting down. This is Greece today.”So it wasn’t an e-mail scam or a bad joke — my first guess on receiving an e-mail from Priceline informing us that our Athens hotel had “closed forever.” That seemingly...
  • EU states prepare rules for suspending visa-free travel

    06/13/2012 10:08:13 PM PDT · by Lorianne · 7 replies
    Chicago Tribune ^ | 12 June 2012
    BRUSSELS (Reuters) - European Union governments would be able to suspend passport-free travel in parts of Europe for as long as two years under regulations proposed on Thursday to address concerns over large-scale immigration. At a meeting in Luxembourg, EU home affairs ministers agreed on new rules that would allow countries to reintroduce border controls if one state persistently failed to stop illegal migrants from entering Europe's Schengen zone.
  • Nigel Farage slams 'incompetent' Mariano Rajoy and warns the 'Euro Titanic' has hit the iceberg

    06/13/2012 1:01:07 PM PDT · by UKrepublican · 14 replies
    Speaking in Strasbourg today at the European Parliament, UKIP leader Nigel Farage outlined why the bailout of Spanish banks will seriously aggravate the euro crisis. He rubbished the 'success' of the Spanish bailout, and accused Jose Manuel Barroso of a series of failed predictions for the economy. Dispelling myths that Europe 'had turned a corner', Farage warned of a 'looming, impending disaster'. Speaking of a 'total and utter failure' he said that the crisis had reached such severity 'you just couldn't make it up':
  • Greeks are pulling cash out of banks, stocking up on food in panic ....

    06/13/2012 8:07:01 AM PDT · by TigerLikesRooster · 92 replies
    Financial Post ^ | 06/13/12 | Dina Kyriakidou and George Georgiopoulos
    Greeks are pulling cash out of banks, stocking up on food in panic ahead of make-or-break election Sunday Dina Kyriakidou and George Georgiopoulos, Reuters Jun 13, 2012 – 8:41 AM ET ATHENS — Greeks pulled their cash out of the banks and stocked up with food ahead of a cliffhanger election on Sunday that many fear will result in the country being forced out of the euro. Bankers said up to 800 million euros (US$1 billion) were leaving major banks daily and retailers said some of the money was being used to buy pasta and canned goods, as fears of...
  • China Ready to Impound EU Planes in CO2 Dispute

    06/13/2012 3:28:12 AM PDT · by lbryce · 12 replies
    Reuters ^ | June 12, 2102 | Alison Leung and Anurag Kotoky
    China will take swift counter-measures that could include impounding European aircraft if the EU punishes Chinese airlines for not complying with its scheme to curb carbon emissions, the China Air Transport Association said on Tuesday. The warning came as the U.N.'s aviation body expressed concern about the growing threat of bilateral reprisals. Chinese airlines, which have been told by Beijing not to comply with the European Union's Emissions Trading Scheme, refused to meet a March 31 deadline for submitting carbon emissions data. A new stand-off looms after EU Climate Commissioner Connie Hedegaard said the carriers would have until the end...
  • Gross Deutschland 2012

    06/12/2012 10:02:27 AM PDT · by Reaganite Republican · 8 replies
    Reaganite Republican ^ | June 12, 2012 | Reaganite Republican
    Like brand-new Chinese ghosts towns and Soviet Five-Year Plans, somehow centralized schemes -on a national, let alone international scale- seem to always fall some measure short... or even achieve precisely opposite of what they intended to do in the first place. Power in the Third Reich was so concentrated that most major decisions fell to Hitler himself -particularly military strategy in the late stages of the war- and we all know how that turned out. Yet in a supreme case of irony, today's wealthy, democratic (but emasculated and ashamed-of-their-past) Germany is having the continental hegemony the Nazis killed millions for thrust right...
  • Spain bank rescue glee morphs into markets rout

    06/11/2012 11:59:56 AM PDT · by Olog-hai · 15 replies
    Associated Press ^ | Jun 11, 2:53 PM EDT | Daniel Woolls
    Euphoria over a lifeline of up to €100 billion ($125 billion) to rescue Spain's hurting banks morphed into a financial markets rout in a matter of hours Monday, as investors digested the still-undefined plan and became concerned the country may be unable to repay the new loans. The rate on Spanish 10-year bonds—a measure of market trust in a country's ability to repay debt—rose to an alarmingly high yield of 6.47 percent at the close of trading after falling to 6 percent in the morning. And the benchmark IBEX-35 stock index closed down 0.5 percent after surging 6 percent in...
  • The EU Is Considering Limiting ATM Withdrawals And Border Checks If Greece Leaves The Euro

    06/11/2012 9:49:55 AM PDT · by blam · 14 replies
    TBI - Reuters ^ | 6-11-2012 | Luke Baker
    The EU Is Considering Limiting ATM Withdrawals And Imposing Border Checks If Greece Leaves The Euro Luke Baker, ReutersJune 11, 2012 European finance officials have discussed as a worst-case scenario limiting the size of withdrawals from ATM machines, imposing border checks and introducing capital controls in at least Greece should Athens decide to leave the euro. EU officials have told Reuters the ideas are part of a range of contingency plans. They emphasized that the discussions were merely about being prepared for any eventuality rather than planning for something they expect to happen - no one Reuters has spoken to...
  • Greece Warns of Going Broke as Tax Proceeds Dry Up

    06/06/2012 10:46:21 AM PDT · by C19fan · 38 replies
    NY Times ^ | June 5, 2012 | Liz Alderman
    As European leaders grapple with how to preserve their monetary union, Greece is rapidly running out of money. Government coffers could be empty as soon as July, shortly after this month’s pivotal elections. In the worst case, Athens might have to temporarily stop paying for salaries and pensions, along with imports of fuel, food and pharmaceuticals.
  • Stocks in 'Global Rout'

    06/05/2012 6:03:28 AM PDT · by SeekAndFind · 11 replies
    American Thinker ^ | 06/05/2012 | Rick Moran
    The miserable American economy - including the dismal jobs numbers released last Friday -- along with the growing crisis in the euro zone in the banking sector, have world markets in a near panic. The Tokyo exchange hit a 28 year low as investors scrambled for the security of Japanese government bonds, which were yielding an astonishing 0.80%. MyWay news: Germany's DAX lost 1.4 percent to 5,963.41 and France's CAC-40 shed 0.3 percent to 2,940.33. Markets in Britain were closed for a public holiday.Wall Street appeared headed for a lower open, with Dow Jones industrial futures shedding 0.6 percent to...
  • Brussels explores creation of 'EU public prosecutor'

    06/05/2012 12:10:36 AM PDT · by Olog-hai · 2 replies
    EU Observer ^ | 2012.06.05 @ 07:59 | Nikolaj Nielsen
    MEPs on the recently established anti-mafia committee and the European Commission have revived talk of creating an EU public prosecutor's office. French center-right deputy Veronique Mathieu—among others—proposed the initiative at a meeting of the anti-crime body in the European Parliament in Brussels on Monday (4 June). EU home affairs commissioner Cecilia Malmström said it would be a "good idea," but added that it needs wider political backing. A parliament spokesman said that several member states are against it as things stand. The new EU office was first mooted in a comission study 12 years ago. It got a legal footing...
  • Russia to EU: Stay out of Syria, back down on Gazprom

    06/04/2012 1:28:36 AM PDT · by Olog-hai · 6 replies
    EU Observer ^ | 2012.06.04 @ 09:29 | Andrew Rettman
    Vladimir Putin has made clear that he will not budge an inch on Syria ahead of an EU-Russia summit. Speaking in separate press events in Berlin and Paris on Friday (1 June), the Russian leader ruled out lifting his UN Security Council veto on economic sanctions or military action against Syrian President Bashar Assad. He also blamed civilian deaths on opposition forces and denied that Russia is selling weapons to Damascus. "Russia does not provide weapons that could be used in a civil conflict," he said in the German capital. … He also criticized Western adventurism in general, noting that...
  • Spain is in 'total emergency’, the EU in total denial

    06/03/2012 7:39:52 PM PDT · by Texas Fossil · 101 replies
    The Telegraph ^ | 02 Jun 2012 | Janet Daley
    After a Spanish exit from the euro, there would be nothing left to exit from. I’ve never actually heard the term “total emergency” before, at least not in the context of global economics. It sounds like the title of a disaster movie. When it is uttered in sober tones by the elder statesman of an advanced democracy to describe his country’s financial condition, the effect is rather startling. The man who delivered this apocalyptic judgment, former Spanish prime minister Felipe González, being a socialist, might be expected to detest austerity programmes that require cuts to government spending. But there seemed...
  • PA Furious at EU for Hosting ‘Terrorist’ Yesha Leader

    06/03/2012 7:32:58 AM PDT · by Eleutheria5 · 4 replies
    Arutz Sheva ^ | 3/6/12 | Tzvi ben Gedalyahu
    Gershon Mesika in Europe Shomron Regional CouncilA Palestinian Authority minister has blasted the European Union for hosting Shomron leader Gershon Mesika, whom it called a “terrorist.” Mesika two weeks spoke to the EU Foreign Affairs Commission of the Parliament in an unprecedented visit to the Brussels-based EU parliament. It was the first time a leader of Judea and Samaria spoke at an official parliamentary meeting, and it clearly infuriated the Palestinian Authority, which is heavily dependent on EU financing. An official letter to European Union members from the Foreign Affairs Ministry of the PA stated that "The Ministry of Foreign...
  • Spanish premier Mariano Rajoy calls for eurozone 'centralized control' authority

    06/02/2012 12:14:54 PM PDT · by Olog-hai · 15 replies
    Daily Telegraph (UK) ^ | 7:10PM BST 02 Jun 2012 | Harry Wallop and Philip Aldrick
    Mariano Rajoy, the Spanish prime minister, has called for the eurozone to have “centralized control” over the budgets of all the countries using the euro. Rajoy has become the latest European politician to call for countries to, in effect, abandon their sovereignty in a last-ditch attempt to save the beleaguered currency. Rajoy said a new central authority would go a long way to alleviating Spain’s economic crisis as it would send a clear signal to investors that the single currency is an irreversible project. He said: “The European Union needs to reinforce its architecture. This entails moving towards more integration,...
  • Europeans cannot shake suicidal habit (cigarette smoking)

    06/02/2012 10:41:50 AM PDT · by Olog-hai · 48 replies
    EU Observer ^ | 31.05.12 @ 09:16 (May 31) | Andrew Rettman
    It killed 695,000 people in the EU last year. But despite restaurant bans and gruesome health labels, the number of smokers is hardly going down. A European Commission survey published for the UN's international anti-smoking day on Thursday (31 May) shows that 28 percent of the EU population smokes today compared to 29 percent in 2009. The number is still going up in the Czech Republic, Finland and Slovenia. Another 21 percent used to smoke but say they have given up. The typical smoker's profile is unflattering: it is the most prevalent among young men aged 15 to 54 who...
  • "The End Game: 2012 And 2013 Will Usher In The End" - The Scariest Presentation Ever?

    06/02/2012 6:54:59 AM PDT · by TigerLikesRooster · 34 replies
    Zero Hedge ^ | 05/31/12
    "The End Game: 2012 And 2013 Will Usher In The End" - The Scariest Presentation Ever? /snip •We don’t know exactly what is to come, but we can all join the very few dots from where we are now, to the collapse of the first major bank… •With very limited room for government bailouts, we can very easily join the next dots from the first bank closure to the collapse of the whole European banking system, and then to the bankruptcy of the governments themselves. •There are almost no brakes in the system to stop this, and almost no one...
  • 'Beware a rerun of the Great Panic of 2008': Head of World Bank warns Europe is heading...

    06/01/2012 7:53:15 PM PDT · by TigerLikesRooster · 54 replies
    Daily Mail ^ | 06/01/12 | Hugo Duncan
    'Beware a rerun of the Great Panic of 2008': Head of World Bank warns Europe is heading for 'danger zone' as world markets suffer bleakest day of the year so far Robert Zoellick: 'Far from clear leaders ready for impending catastrophe' Raft of dismal news from around world wreaked havoc on market Manufacturing output crashed in Britain, jobless up in Europe and U.S. Fast-emerging economies such as Brazil and China running out of steam By Hugo Duncan PUBLISHED: 15:49 GMT, 1 June 2012 | UPDATED: 22:52 GMT, 1 June 2012 The head of the World Bank yesterday warned that financial...
  • The triumph of Margaret Thatcher: why Europe’s love affair with the European project is ending

    06/01/2012 12:05:12 PM PDT · by SaraJohnson · 5 replies
    The Telegraph ^ | 6/1/12 | Nile Gardiner
    Earlier this week the Pew Research Center’s Global Attitudes Project released a major report entitled ‘European Unity on the Rocks’. Its survey, involving more than 9,000 respondents across eight European Union nations as well as the United States, is the stuff of nightmares for EU officials desperately trying to keep the European project together against the backdrop of the biggest economic crisis in Europe since the 1930s. In the words of the report’s authors the European project “is a major casualty of the ongoing sovereign debt crisis,” with deep-seated disillusionment with the European single currency and the broader process of...
  • EuroZone jobless rate hits new high (World economies weakening)

    06/01/2012 11:52:41 AM PDT · by SeekAndFind · 3 replies
    Hotair ^ | 06/01/2012 | Ed Morrissey
    It’s not just the US, which is a point that Barack Obama will likely seize in the same manner a drowning man clings (bitterly?) to a life preserver in a storm-tossed ocean. The EuroZone hit a 17-year high unemployment rate this spring at 11%, and the rate in the larger European Union rose to 10.3%: The jobless rate in the 17-nation euro zone reached 11 percent in March and April, the highest since the start of the data in 1995, Eurostat, the European statistical agency said in Luxembourg. The previous record had been 10.9 percent in February, Eurostat said, after...
  • Debt-Hit Greece 'Running Out Of Medication'

    05/29/2012 10:19:11 AM PDT · by tcrlaf · 29 replies
    SKY ^ | 5-25-12 | Jason Ferrell
    Pharmacies in Greece were on strike earlier this week in protest at the government not paying them for medicines that should be free to customers. Many pharmacies now have huge debts to pharmaceutical companies for drugs they have handed out free of charge. Sky News spoke to one pharmacist who has not been paid by the state for over a year. Evaggelina Rousi, who runs a chemist in Athens, said: "The government owes us 30,000 euros but we have not been paid by them for a year and a half. Many people who rely on regular medication are at risk....
  • US reportedly plans to arm Italy’s drones

    05/29/2012 9:54:24 AM PDT · by opentalk · 4 replies
    Wall Street Journal ^ | May 29, 2012 | WSJ
    The Obama administration plans to arm Italy’s fleet of Reaper drone aircraft, a move that could open the door for sales of advanced hunter-killer drone technology to other allies, according to lawmakers and others familiar with the matter. The sale would make Italy the first foreign country besides Britain to fly U.S. drones armed with missiles and laser-guided bombs. U.S. officials said Italy intends initially to deploy the armed drones in Afghanistan. Lawmakers who question the planned deal say the decision to “weaponize” Italy’s unarmed surveillance drones could make it harder for the U.S. to deny similar capabilities to other...