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Keyword: greece

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  • Greek Debt Crisis Adds to a Spike in Burglaries and Robberies

    07/31/2015 6:39:30 PM PDT · by familyop · 3 replies
    The New York Times ^ | JULY 31, 2015 | ANEMONA HARTOCOLLIS
    One evening three weeks ago in Kifissia, an affluent garden suburb of Athens, a retired financial adviser and his wife decided to take in one of the delights of summer here, an outdoor movie. They pulled tight the shutters, set the alarm, locked the house and strolled off. Halfway through the movie the alarm company called, and they rushed home to find the alarm immersed in a bucket of water, the shutters jimmied and a safe emptied of jewelry. The speed and sophistication of the crime were astonishing, the financial adviser’s wife said, still feeling vulnerable and not willing to...
  • Turkey Revealed to be Cooperating with ISIS

    07/28/2015 5:41:38 PM PDT · by Olog-hai · 24 replies
    INN ^ | 7/28/2015, 10:05 PM | Ari Yashar
    Damning evidence was found when US special forces killed Islamic State (ISIS) leader Abu Sayyaf in May, revealing that NATO member Turkey has in fact been collaborating with the brutal jihadists. The British Guardian reported on Sunday that when Abu Sayyaf’s compound was raided in eastern Syria, it was discovered that Turkey is the main buyer of smuggled ISIS oil which was managed by Abu Sayyaf to economically prop up the terror group. The report quoted a senior Western official, who told the Observer that the findings at the compound showed direct deals between Turkish officials and ISIS leaders is...
  • Syria's embattled president vows to win bloody civil war

    07/27/2015 10:05:14 PM PDT · by MinorityRepublican · 6 replies
    AP | July 26, 2015 | Bassem Mroue
    Link only.
  • Greece rocked by reports of secret plan to raid banks for drachma return

    07/27/2015 9:38:49 PM PDT · by TigerLikesRooster · 9 replies
    The Guardian ^ | 26 July 2015
    Greece rocked by reports of secret plan to raid banks for drachma return Opposition demands answers after covert proposals attributed to Yanis Varoufakis and fellow ex-minister highlight deep split in Syriza party Staff and agencies Sunday 26 July 2015 19.39 BST Some members of Greece’s leftist-led government wanted to raid central bank reserves and hack taxpayer accounts to prepare a return to the drachma, according to reports that highlighted the chaos in the ruling Syriza party. It is not clear how seriously the government considered the plans, attributed to former energy minister Panagiotis Lafazanis and ex-finance minister Yanis Varoufakis. Lafazanis...
  • Lesson Learned: Poland, Czech Republic Won't Join "Burning" Euro

    07/27/2015 10:30:40 AM PDT · by SeekAndFind · 4 replies
    Zero Hedge ^ | 07/27/2015 | Tyler Durden
    With the turmoil in Greece proving once and for all that in the absence of a fiscal union, the EMU simply cannot function or if it does, it will be subject to episodic crises stemming from endemic differences of opinion on fiscal policy, outsiders could be forgiven for looking upon the currency experiment as an abject failure. Indeed, the struggle to secure a bridge loan for Athens last week underscored the degree to which non-euro countries are reluctant to put their taxpayers on the hook for problems which they believe are the result of an ill-fated attempt to unite fundamentally...
  • Calls made for England to boycott 2018 World Cup as campaigners slam Russia's racism record

    07/26/2015 6:31:57 AM PDT · by bob_denard · 5 replies
    The Mail On Sunday ^ | 26 July 2015 | By Andrew Warshaw
    Leading anti-discrimination campaigners issued a stinging attack on Russia’s racism record on Saturday night and said England should boycott the 2018 World Cup if they qualify unless the situation improves. Brazilian striker Hulk, Russian football’s record signing, was pulled out of yesterday’s draw ceremony for what organisers said were ‘purely sporting reasons’ in order to play for Zenit St Petersburg. But just days earlier, Hulk said racism happens at ‘almost every game’ in the Russian league and was a genuine threat to the World Cup. Meanwhile, Ghanaian officials condemned the ‘vile racist abuse’ meted out to former Arsenal midfielder Emmanuel...
  • Berlin conservatives say ‘no’ to gay marriage

    07/24/2015 7:13:55 PM PDT · by Olog-hai · 8 replies
    TheLocal.de ^ | 24 Jul 2015 17:14 GMT+02:00 | (DPA/The Local)
    Members of the Berlin faction of Chancellor Angela Merkel’s conservative Christian Democratic Union (CDU) voted against gay marriage in a poll on Friday, denting hopes the Chancellor’s staunch opposition could be swayed. The Berlin faction of the CDU announced on Friday that 45 percent of its members voted against gay marriage while 35 percent voted in support in a survey, newspaper Tagesspiegel reported. […] The recent passage of same-sex marriage in Ireland and a US Supreme Court decision in favour of gay marriage has put more pressure on Merkel and her conservative Union (CDU and Christian Social Union parties), who...
  • Barack Obama says Britain must stay in EU [and that's an ORDER!!]

    07/23/2015 7:13:37 PM PDT · by markomalley · 22 replies
    The Telegraph ^ | 7/23/15 | Barney Henderson
    “(The EU) is part of the cornerstone of institutions built after World War Two that has made the world safer and more prosperous. “We want to make sure that the United Kingdom continues to have that influence,” Mr Obama told the BBC, reinforcing the importance Washington places on the UK remaining in the EU. He has previously acknowledged the need to try and “fix what is broken” with the EU before breaking the relationship. Mr Obama said David Cameron was an outstanding partner and praised the Government for committing earlier this month to Nato's defence spending pledge of two per...
  • Experts question claim that Alexander the Great's half-brother is buried at Vergina

    09/12/2010 5:48:55 PM PDT · by SunkenCiv · 14 replies
    Eurekalert ^ | September 8, 2010 | Hannah Johnson, U of Bristol
    The tomb was discovered during the excavation of a large mound -- the Great Tumulus -- at Vergina in 1977. Along with many treasures including ceremonial military equipment, bronze utensils, silver tableware, and gold wreaths, the tomb contained two sets of skeletal remains. Those of a man were found in a gold casket in the main chamber and those of a woman in a smaller gold casket in the second chamber. Both individuals had been cremated and evidence of a wooden funerary house containing a pyre was also found near the tomb. Dr Jonathan Musgrave of the University of Bristol's...
  • Greek tomb find excites experts

    02/12/2006 3:02:35 PM PST · by fanfan · 23 replies · 294+ views
    BBC ^ | Sunday, 12 February 2006 | BBC
    Alexander the Great was ruler of Macedonia The tomb is thought to be from the time of Alexander the Great,Archaeologists in Greece say they are examining the largest underground tomb ever found in the country. They said a farmer had stumbled across the tomb carved into the rock near the ancient city of Pella, the birthplace of Alexander the Great. Archaeologists believe it dates to the period after Alexander's death, which was marked by mass power struggles. The tomb was probably used by a noble family about 2,300 years ago - some of whose names are still visible. Archaeologists said...
  • Alexander the Great-Era Treasure Found in Israeli Cave

    03/10/2015 6:20:38 AM PDT · by Red Badger · 27 replies
    discovery.com ^ | Mar 9, 2015 07:00 PM ET | by Rossella Lorenzi
    A rare cache of jewelry and silver coins, minted during the reign of Alexander the Great, has been discovered in a stalactite filled cave in northern Israel, the Israel Antiquities Authority (IAA) announced on Monday. The 2,300-year-old treasure was found by three members of the Israeli Caving Club who wriggled through a narrow passage at the entrance of the stalactite cave and wandered inside for several hours. Stashed inside a niche, one of the spelunkers, Hen Zakai, spotted two ancient silver coins. On one side of the coins was an image of Alexander the Great, while the other side portrayed...
  • Alexander the Great's "Crown," Shield Discovered?

    04/25/2008 7:11:55 PM PDT · by blam · 28 replies · 225+ views
    National Geographic News ^ | 4-23-2008 | Sara Goudarzi
    Alexander the Great's "Crown," Shield Discovered?Sara Goudarzi for National Geographic NewsApril 23, 2008 An ancient Greek tomb thought to have held the body of Alexander the Great's father is actually that of Alexander's half brother, researchers say. This may mean that some of the artifacts found in the tomb—including a helmet, shield, and silver "crown"—originally belonged to Alexander the Great himself. Alexander's half brother is thought to have claimed these royal trappings after Alexander's death. The tomb was one of three royal Macedonian burials excavated in 1977 by archaeologists working in the northern Greek village of Vergina (see map of...
  • Absent Strong Action, Medicare Goes the Way of Greece

    07/23/2015 6:57:10 AM PDT · by SeekAndFind · 6 replies
    RCM ^ | 07/23/2015 | Joseph Antos
    Greece owes $320 billion to its creditors and cannot repay the loans. Like Greece, Medicare is also accumulating an unaffordable mountain of debt. And both Greece and Medicare are more likely to default on their debts than to adopt the highly unpopular reforms needed to pay them off. Wednesday's news from the Medicare Trustees may not seem that dire. The headline is comforting, but misleading. Medicare's Hospital Insurance (HI) trust fund-also known as Part A-will run short of money, but not until 2030. Starting that year, Part A benefits can be paid out only to the extent that money comes...
  • Kopacz: Poland will not pay a penny for Greece

    07/22/2015 11:33:07 AM PDT · by 2ndDivisionVet · 6 replies
    Radio Poland ^ | July 21, 2015
    Reiterating what she said a week earlier after an initial solution to the Greek crisis had been found, Kopacz noted that any financial assistance for Greece would have to come exclusively from the European Financial Stabilisation Mechanism. On Monday Greece received an approximately EUR 7 billion bridging loan to repay its debts to the International Monetary Fund (IMF) and its current installment to the European Central Bank (ECB). The new aid programme for Greece is in the region of EUR 82-86 billion. “If it turns out that Greece is insolvent and will have to be given this loan, then the...
  • Shocking pictures of the appalling conditions thousands of migrants are forced to endure..Greek [tr]

    07/22/2015 8:20:21 AM PDT · by C19fan · 37 replies
    UK Daily Mail ^ | July 22, 2015 | Tim MacFarlan
    Thousands of desperate migrants are camping out on roundabouts amid squalid camps overflowing with rubbish on the Greek holiday islands of Lesbos and Kos. Around 5,000 people have arrived in Lesbos in the past few days and many are forced to sleep outside amid broken glass and piles of rubble without access to water, shelter, toilets or medical care. Shocking images taken at the official Moria camp near the main town of Mitlini show filthy and overflowing latrines strewn with discarded plastic bottles and tents perched next to piles of rubbish.
  • Banks Union appeals to Greeks to return their money to banks

    07/21/2015 3:16:14 PM PDT · by dynachrome · 16 replies
    http://www.keeptalkinggreece.com/ ^ | 7-20-15 | Keep Talking greece
    President of Greek Banks Association Louka Katseli appealed at the citiznes to return their money to the banks. “Banks are absolutely trustworthy,” Katseli told Mega TV “as guaranteed by the ECB and the Bank Association, but they would have been even more powerful if 40 billion euros had not been withdrawn in the last months. Katseli, a former PASOK Minister, appealed to citizens to return their deposits to the banks “now that the banks are open” after a three-week holiday and capital controls. “Let’s all help our economy,” Katseli urged Greeks and added “If you take your money out of...
  • Europe Is Partying Like It's 1939

    07/21/2015 12:18:03 PM PDT · by Rummyfan · 6 replies
    The Federalist ^ | 21 July 2015 | Kurt Schlichter
    When traveling through Europe accompanied by a copy of Martin Gilbert’s magisterial one-volume biography, “Churchill: A Life,” you cannot ignore the parallels between today and the 1930s. With the enemies of freedom prowling along on the periphery of civilization and the economy wobbling, the West once again finds itself at an existential crossroads. This time, there is no Winston Churchill to set us upon the road toward victory. Europe is different from when I first lived there in the late 1980s and early 1990s. It was not as superficially wealthy then, although this time I rarely wandered far from where...
  • No, Puerto Rico Is Not Our Greece

    07/21/2015 5:08:46 AM PDT · by SeekAndFind · 6 replies
    RCM ^ | 07/21/2015 | Robert Samuelson
    We're told that Puerto Rico is our Greece, and sometimes it seems so. The U.S. territory (its residents have been American citizens since 1917) has a heap of economic problems. Gov. Alejandro Garcia Padilla recently told the New York Times that its $72 billion debt is "not payable." To buttress the point, he commissioned a study of the island's economy by Anne Krueger, a highly respected economist who was a top official of the International Monetary Fund. Her report makes for grim reading. Since 2005, Puerto Rico's economy has shrunk by about 10 percent. Its population is also declining, from...
  • America’s government debt bomb [But No, we're not the next Greece]

    07/20/2015 4:54:30 AM PDT · by SeekAndFind · 10 replies
    Washington Times ^ | 07/20/2015 | Stephen Moore
    I’m asked every day if America is the next Greece or Detroit or Puerto Rico — and the answer is an unequivocal no. The U.S. economy — especially the private sector — is structurally very healthy. That wasn’t the case on the eve of the great financial meltdown of 2008 when American companies and households were leveraged up to their eyebrows. What’s different today from eight years ago is that now it’s the government that’s in the fiscal intensive care unit while companies and households have rebooted. The stunning improvement in business and family balance sheets is arguably the most...
  • Germany is feasting on the rest of Europe

    07/19/2015 3:08:56 PM PDT · by BlopAndStop · 35 replies
    Business Insider ^ | July 19, 2015 | Corey Stern
    The situation in Athens seems to have calmed down, but former Federal Reserve Chairman Ben Bernanke thinks Europe has an even bigger issue to worry about: Germany. In a blog post on Friday, Bernanke wrote that the failure of the eurozone as a whole is very much related to the "highly asymmetric outcomes" among member nations. In other words, Bernanke is attributing Europe's woes to the fact that countries like Germany are benefiting at the expense of the monetary union's weaker members, like Greece, Spain, and Italy. Bernanke points to unemployment rates as a clear sign of the disparity in...
  • Commodities crash could turn Australia into a new Greece

    07/19/2015 2:51:40 PM PDT · by BlopAndStop · 9 replies
    The Telegraph ^ | 19 July 2015 | Andrew Critchlow
    Last month Gina Rinehart, Australia’s richest woman and matriarch of Perth’s Hancock mining dynasty delivered an unwelcome shock to her workers in Western Australia: accept a possible 10pc pay cut or face the risk of future redundancies. Ms Rinehart, whose family have accumulated vast wealth from iron ore mining, has seen her fortune dwindle since commodity prices began their inexorable slide last year. The Australian mining mogul has seen her estimated wealth collapse to around $11bn (£7bn) from a fortune that was thought to be worth around $30bn just three years ago. This colossal collapse in wealth is symptomatic of...
  • Debt-choked Greece seeks solar bonanza

    09/05/2011 3:29:55 PM PDT · by bruinbirdman · 26 replies
    Athens News ^ | 9/5/2011
    Sun-baked and debt-choked Greece presented on Monday a plan to become Europe's solar energy powerhouse, attracting up to 20 billion euros of investment in the decades to come to lift its economy out of the doldrums. The cash-strapped country regards clean energy as one of the few advantages of its uncompetitive economy, which is going through its longest and deepest recession in decades as a result of a debt crisis. The ambitious plan, called "Project Helios", involves multiplying Greek solar power production from 206 megawatts (MW) in 2010 to 2.2 gigawatts (GW) by 2010 and up to 10 GW by...
  • Greece struggles against wildfire front, calls for EU help

    07/17/2015 8:51:50 AM PDT · by Kartographer · 17 replies
    AFP via Yahoo News ^ | 7/17/15 | John Hadoulis
    Greece appealed for EU assistance Friday to battle wildfires raging on the outskirts of Athens and in the southern Peloponnese region that forced the evacuation of several villages. Prime Minister Alexis Tsipras said he had requested help to fight the fires and announced army and airforce units were being deployed to help douse the flames. "All firefighting forces, in addition to the army and the airforce, are on alert," Tsipras told reporters, blaming the outbreak on "emergency weather conditions". "We all need to stay calm," he said. Greece had asked for four aircraft from Europe, fire department spokesman Nikos Tsongas...
  • WaPo: Germans forcing Greece to accept reforms sort of makes it seem like the Nazis are back, huh?

    07/16/2015 1:15:12 PM PDT · by Sean_Anthony · 17 replies
    Canada Free Press ^ | 07/16/15 | Dan Calabrese
    Greece wildly overcommits in spending on its welfare state, spending the country to the brink of collapse and then failing to live up to the terms of not one but two IMF bailouts, both of which were heavily financed by Germany I don’t even know what to do with this. If you ever help anyone with a problem, don’t expect to get credit for it from the Washington Post. Because it might be necessary for you to make the recipient of the help shed some bad habits, and if you do that . . . hey, remember how cruel Hitler...
  • Greece votes to stay in the euro:Athens finally agrees to humiliating bailout package on night of...

    07/15/2015 9:34:40 PM PDT · by Kartographer · 29 replies
    Daily Mail ^ | 15 July 2015 | JOHN HALL and SAM TONKIN
    The agreement followed violent clashes in the country’s capital last night as protesters hurled petrol bombs at riot police after surrounding the Athens parliament ahead of the final deadline for the country's €86 billion bailout deal. As flames erupted, police responded with tear gas against dozens of hooded anti-austerity demonstrators who set ablaze parts of Syntagma square.
  • THE LATEST: GREEK PARLIAMENT PASSES AUSTERITY BILL

    07/15/2015 9:29:49 PM PDT · by Kartographer · 20 replies
    AP ^ | 7/15/15
    Clashes have broken out at an anti-austerity rally by thousands of protesters outside Parliament in Athens. Riot police used pepper spray and tear gas Wednesday night to fight back youths in the crowd who were hurling Molotov cocktails and rocks at police. Police said about 12,500 people were at the rally at Syntagma Square. The clashes broke out just as lawmakers were starting to debate an austerity bill that includes consumer tax increases and pension reforms. Prime Minister Alexis Tsipras, who has faced strident opposition to the bill from his own radical left Syriza party, says it's the best possible...
  • EMU brutality in Greece has destroyed the trust of Europe's Left

    07/15/2015 2:21:55 PM PDT · by B212 · 6 replies
    telegraph.co.uk ^ | Ambrose Evans-Pritchard
    'The Left let itself become the enforcer of reactionary policies and mass unemployment because of the euro.' Greece has broken the spell It is long been fighting an expanding coaltion of free marketeers, parliamentary "souverainistes", anti-immigrant populists on the Right. Its has now lost its remaining emotional hold on the Left after the scorched-earth treatment of Greece over the past five months - culminating in the vindictive decision to impose yet harsher terms on this crushed nation just days after its cri de coeur in a landslide referendum. Greece news live This has been coming for a long time. We...
  • Clashes In Athens As MPs Set For Austerity Vote

    07/15/2015 1:36:02 PM PDT · by Oldeconomybuyer · 12 replies
    Sky News ^ | July 15, 2015
    Anti-austerity protesters in Athens have clashed with police as MPs prepare to vote on a series of painful reforms aimed at saving their economy from collapse. Demonstrators threw petrol bombs at riot officers outside the Greek parliament as politicians discussed a key bill that has to pass in order to start negotiations with creditors on a third bailout. Police fired tear gas to try to push back groups of youths hurling Molotov cocktails from within the crowd. Thousands of anti-austerity demonstrators have marched through the centre of the city and civil servants also protested with a 24-hour strike that disrupted...
  • A Scary Thought: Could America Become the Next Greece?

    07/15/2015 12:25:36 PM PDT · by SeekAndFind · 26 replies
    The National Interest ^ | 07/15/2015 | Romina Boccia
    In June, Greece defaulted on a €1.73 billion payment to the International Monetary Fund. In a national referendum shortly thereafter, the Greeks strongly rejected European conditions for receiving yet another bailout. For the first time in the Eurozone’s history, the exit of one of its member countries became a very real possibility. [SNIP] While there are important differences between the U.S. and Greek economies, policy makers and the public should be concerned with the dismal U.S. fiscal outlook. The Congressional Budget Office (CBO) estimates in its alternative fiscal scenario that U.S. publicly held debt will grow to 180 percent (exceeding...
  • Was that Obama's Best Week Ever? Fiddling While the World Burns

    07/15/2015 8:48:15 AM PDT · by Kaslin · 4 replies
    Townhall.com ^ | July 15, 2015 | Dan Horowitz
    I love how events of the past few weeks have empowered the Obama policy team to proclaim to their mainstream media friends that Obama had his “Best Week Ever.” Sadly, our friends in Congress seem to be reading the White House press releases as well. As Congress engages for a few short weeks before the August “District Work Period,” it well behooves the Members and Senators to look beyond the ongoing media frenzy of last month’s Supreme Court rulings. Shift the discussion as they should point out to the President and his staff that the White House is idly standing...
  • The U.S. and Greece: Far Too Much in Common

    07/15/2015 7:29:57 AM PDT · by SeekAndFind · 3 replies
    National Review ^ | 07/15/2015 | Michael Tanner
    Our situation is nowhere near as bad as Greece’s — but it’s bad enough. Last week, Keith Hall, director of the Congressional Budget Office, told Congress that the United States could be facing a Greek-style debt crisis down the road. “Unfortunately,” Hall testified, “there is no way to predict confidently whether or when such a fiscal crisis might occur in the United States. . . . But all else being equal, the larger a government’s debt, the greater the risk of a fiscal crisis.” That’s not exactly a ringing vote of confidence. Obviously there are big differences between the U.S....
  • SECRET IMF REPORT: GREECE NEEDS DEBT RELIEF FAR BEYOND EU PLANS

    07/14/2015 6:12:47 PM PDT · by nickcarraway · 4 replies
    Greece will need far bigger debt relief than eurozone partners have been prepared to envisage.Greece will need far bigger debt relief than eurozone partners have been prepared to envisage so far due to the devastation of its economy and banks in the last two weeks, a confidential study by the International Monetary Fund seen by Reuters shows. The updated debt sustainability analysis (DSA) was sent to eurozone governments late on Monday, hours after Athens and its 18 partners agreed in principle to open negotiations on a third bailout program of up to €86 billion in return for tougher austerity measures...
  • GREECE PLEDGES TO GET RID OF TAX EVASION AS A WAY OF LiIFE

    07/14/2015 4:37:12 PM PDT · by grumpygresh · 13 replies
    ABC news ^ | 7/14/15 | Alan Cledenning
    ... Bokas also does installation and repair jobs — and half of those involve cash deals with no receipts for his labor. The result is that a job costing 250 euros ($275) goes for 125 euros because he doesn’t charge the client sales tax and Bokas doesn’t report the income for taxation. “I’ve got a receipt for everything I sell in my shop,” Bokas said. But tax officials “don’t know what my hands do.”
  • Greeks Can’t Tap Cash, Gold, Silver In Bank Safety Deposit Boxes

    07/14/2015 9:04:18 AM PDT · by grumpygresh · 31 replies
    ETF Daily News ^ | 7/14/15 | unattributed
    Capital controls have been in place in Greece since the start of the month to protect the banks from mass withdrawals by nervous Greeks. They have rightly been concerned about their savings, the collapse of the banking system and the loss of their savings in deposit confiscations or bail-ins.
  • Why Greece Got Schooled

    07/14/2015 12:56:54 AM PDT · by Berlin_Freeper · 16 replies
    slate.com ^ | July 13 2015 | Jordan Weissmann
    In the end, Alexis Tsipras all but gave Germany naming rights to the Parthenon in order to secure a new bailout deal for Greece. After a caustic all-night negotiating session, the prime minister surrendered to nearly every demand from Europe's leaders in return for an agreement that, theoretically, will keep his country in the eurozone and stave off an immediate economic crisis.
  • This Weekend's Greece Negotiations Explained In 60 Seconds (By Darth Vader)

    07/13/2015 4:30:33 PM PDT · by dynachrome · 4 replies
    zerohedge.com ^ | 7-13-15 | Zero Hedge
    "Sources" say this is how it all went down...
  • US stocks seen higher on Greek deal

    07/13/2015 4:08:01 AM PDT · by expat_panama · 16 replies
    Yahoo Finance ^ | Mon, Jul 13, 2015 | Dhara Ranasinghe
    U.S. stock markets were tipped to open higher on Monday following news that Greece and its international creditors have reached a bailout agreement. European Council President Donald Tusk said early on Monday that euro zone leaders reached an unanimous agreement with Greece after all-night talks in Brussels to move forward with a bailout loan for Greece provided Athens implement tough reforms. "Markets have responded very positively to the news, which comes following months of uncertainty and increasing fears that Greece could suffer a messy exit from the euro zone," Craig Erlam, a senior market analyst at currency trading firm OANDA....
  • Greek socialists reluctantly accept IMF ‘meddling’ in deal to save the country they ruined

    07/13/2015 4:36:24 AM PDT · by Sean_Anthony · 11 replies
    Canada Free Press ^ | 07/13/15 | Dan Calabrese
    If I were negotiating this deal on behalf of the IMF and the EU, one term I would demand is the resignation of the socialist government It’s the third bailout of Greece in five years. Heck, even Chrysler must be appalled at a performance like that. And while we’re still waiting for the details, early reports indicate that Greece’s socialist government had to accept much more stringent terms than the ones they told Greek voters to reject just last week. It’s easy just telling everyone yes to whatever they want until you run out of stuff to give them. That’s...
  • Why We Should Get Used To Low Oil Prices

    07/13/2015 11:03:11 AM PDT · by bananaman22 · 34 replies
    Oilprice.com ^ | 13-07-2015 | ABM
    The news from the IEA is not good. “World oil demand growth appears to have peaked in 1Q15 at 1.8 mb/d and will continue to ease throughout the rest of this year and into next as temporary support fades.” I don’t have great faith in forecasts but the data shows declining demand growth from late 2010 to the 2nd quarter of this year The weak global economy is the cause of low demand growth. The current debt crisis Greece and collapsing stock markets in China are the latest alarm signals.
  • Pope offers rare 'mea culpa' about neglect of middle class

    07/13/2015 10:43:58 AM PDT · by Citizen Zed · 18 replies
    Reuters ^ | 7-13-2015 | PHILIP PULLELLA
    Pope Francis acknowledged on Monday he had neglected problems of the middle class and said he was willing to have a dialogue with Americans who disagree with his criticism of capitalism. Francis, speaking to reporters on the papal plane returning from a grueling 8-day trip to Ecuador, Bolivia and Paraguay, also said he hoped the Greek crisis could lead to more oversight so other countries would not experience the same problems. During the hour-long conversation with the Francis, who has made defense of the poor a major plank of his papacy, a reporter asked why he had hardly ever spoken...
  • Hungary Starts to Build the Damn Fence

    07/13/2015 10:24:31 AM PDT · by rktman · 17 replies
    pjmedia.com ^ | 7/13/2015 | Michael Walsh
    The Hungarians have had it with the invaders known in the media as “migrants” and are doing something about it: Hungary has begun building a fence on the country’s southern border with Serbia, meant to stem the unprecedented flow of migrants, the government said Monday. Military personnel began working on a 150-meter (490-foot) “sample section” Monday morning on the outskirts of the town of Morahalom, where a bulldozer and other heavy machinery were preparing the ground for construction, according to a joint statement from the interior and defense ministries. “A daily average of 1,000 illegal border crossers are arriving in...
  • Mohamed El-Erian warns markets on messy Greek deal

    07/13/2015 10:32:43 AM PDT · by Citizen Zed · 1 replies
    cnbc ^ | 7-13-2015 | Matthew J. Belvedere
    World financial markets should be somewhat relieved that Greece and its creditors reached a reforms-for-bailout deal, closing-followed market watcher Mohamed El-Erian said Monday. But the chief economic adviser at German financial giant Allianz warned that investors should be prepared for a difficult and messy implementation of the terms of the agreement. Euro zone leaders in Brussels agreed Monday on a third rescue for Greece. The deal includes a stipulation that a $55 billion fund be set up using Greek government assets for privatization. The two sides came together for "two negative reasons," because the alternative was worse and nobody wanted...
  • What Assets Did Greece Just Hand Over To Europe: "Airports, Airplanes, Infrastructure ...

    07/13/2015 8:55:22 AM PDT · by SeekAndFind · 23 replies
    Zero Hedge ^ | 07/13/2015 | Tyler Durden
    The Simpsons had it right all along: With the provocative and dramatic Greek "time out" language pulled from the final finmin and summit draft language, the two most humiliating aspects of the latest extend and pretend "deal" for the Greek people will be the return of the Troika's (surely we can call it the Troika again as part of the Greek capitulation) IMF mission to Athens, and the escrowing of some €50 billion in  Greek assets in a liquidation fund. Granted said fund will not be domiciled in Luxembourg as was originally envisioned, but Europe will still have control and...
  • Elderly pensioners biggest tragedy in Greek Bailout

    07/13/2015 7:08:47 AM PDT · by Sean_Anthony · 9 replies
    Canada Free Press ^ | 07/13/15 | Judi McLeod
    People have become herds of cattle and statistics to tax-rich governments and bureaucracies Any country whose financial problems leave thousands of elderly pensioners having to queue up in front of banks is an abysmal failure. Any system that doesn’t put vulnerable pensioners first is heartless. Governments worldwide and their bureaucracies continue to treat people like cattle. For all of their hype as saviours, the European Union is über government. Ditto for the out-of-control United Nations, whose bumper sticker approach of “saving humanity” is a decades-old farce. People have become herds of cattle and statistics to tax-rich governments and bureaucracies.
  • European Leaders Reach Agreement to Resolve Greek Debt Crisis

    07/13/2015 5:09:22 AM PDT · by afraidfortherepublic · 11 replies
    New York Times ^ | 7-13-15 | JAMES KANTER and ANDREW HIGGINS
    BRUSSELS — Greece and its European creditors announced an agreement here on Monday that aims to resolve the country’s debt crisis and keep it in the eurozone, but that will require further budgetary belt-tightening that Primes Minister Alexis Tsipras could have trouble selling back in Athens. The agreement does not guarantee that Greece will receive its third bailout in five years. But it does allow the start of detailed negotiations on a new assistance package for Greece. One open question is whether the deal gives enough confidence to the European Central Bank to let it continue channeling sorely needed emergency...
  • Greece debt crisis: Eurozone summit strikes deal (Nullify Greek Vote)

    07/13/2015 4:51:34 AM PDT · by Enlightened1 · 8 replies
    BBC ^ | 07/13/15
    Eurozone leaders have agreed to offer Greece a third bailout, after marathon talks in Brussels. Amid one of the worst crises in the EU's history, the head of the European Commission said the risk of Greece leaving the eurozone had been averted. Greek Prime Minister Alexis Tsipras said that after a "tough battle", Greece had secured a "growth package" and debt restructuring. Greece will now have to pass reforms demanded by the eurozone by Wednesday. These include measures to streamline pensions, raise tax revenue and liberalise the labour market. An EU statement spoke of up to €86bn (£61bn) of financing...
  • Greece is a victim of its own cronyism and corruption

    07/13/2015 3:22:29 AM PDT · by familyop · 9 replies
    The Telegraph ^ | 10 Jul 2015 | Pavlos Eleftheriadis
    Starting in the Eighties populist spending and cronyism became the norm for both main parties, PaSoK and the conservative New Democracy party, which followed Papandreou’s practices when it returned to power in the 1990s. The civil service became part of the spoils of government. There was no room for universal benefits or long-term strategies of assisting the poor. Everyone was out to secure the best short-term outcome for themselves. The big winners were the public sector unions, the utility companies’ unions and the professionals: doctors, lawyers, engineers, pharmacists. The economy remained closed and protectionist, working largely for the benefit of...
  • Greeks Face 'Humiliating' Demands As Twitter Says #ThisIsACoup (EU Demands "Banker Dictatorship"?)

    07/12/2015 8:41:53 PM PDT · by tcrlaf · 64 replies
    TeleSur ^ | 6-12-2015 | Telesur
    As European Union leaders push Greece for more austerity reforms, Athens enters political crisis and social media erupts in response. A two-day emergency meeting on Greece’s economic future ended Sunday with strict conditions from the European Union, including contentious austerity reforms, if it wants a new bailout and keep the euro. To meet the conditions for fresh aid packages and a third bailout that Greece needs to avoid bankruptcy, European finance ministers want Greece to pass a series of austerity measures--including tax and pension reforms-- through Parliament and put them into law by Wednesday. Greece will also have to lose...
  • Obama is killing the Left. Let's help him. (REPOST. I messed up on the last one.)

    07/12/2015 5:58:46 AM PDT · by Din Maker · 20 replies
    American Thinker ^ | July 12, 2015 | Clarice Feldman
    I have enormous respect for Victor Davis Hanson and read with great interest his account this week that people are fed up with liberal elites. Amid all this leftish high-fiving about court decisions and executive orders, we forget political and electoral reality. Barack Obama has done more to destroy liberal political power in the Congress and in the statehouses than any Democratic politician since the 1920s. His executive orders and neglect of enforcing existing law have green-lighted the executive power of the next Republican president in a way that Richard Nixon could hardly imagine. He has discredited the idea of...
  • Germany’s Power Polarizes Europe

    07/06/2015 9:59:48 PM PDT · by BenLurkin · 24 replies
    wsj.com ^ | Anton Troianovski
    [W]ith the “no” vote in Sunday’s Greek referendum on bailout terms posing the biggest challenge yet to decades of European integration, risks to the European project resulting from Germany’s rise as the Continent’s most powerful country are becoming clear. On Friday, Spanish antiausterity leader Pablo Iglesias urged his countrymen: “We don’t want to be a German colony.” On Sunday, after Greece’s result became clear, Italian populist Beppe Grillo said, “Now Merkel and bankers will have food for thought.” On Monday, Ms. Merkel flew to Paris for crisis talks amid signs the French government was resisting Berlin’s hard line on Greece....