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Keyword: portugal

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  • Putin warns Europe over Iran and Kosovo at EU summit

    10/26/2007 8:06:36 AM PDT · by TigerLikesRooster · 7 replies · 38+ views
    Times of London ^ | 10/26/07 | Jack Malvern and agencies
    From Times OnlineOctober 26, 2007 Putin warns Europe over Iran and Kosovo at EU summit (Miguel A Lopes//EPA) Vladimir Putin at the EU-Russia Summit at Mafra Palace, near Lisbon, today Jack Malvern and agencies Tensions between Russia and the West over sanctions against Iran will be laid bare today as President Vladimir Putin attends a summit with EU leaders in Portugal. The Russian leader described supporters of tough policies as "mad people wielding razor blades" after the US imposed economic sanctions on the Islamic republic yesterday in an attempt to curb its nuclear programme. Mr Putin, who is at the...
  • Portugal decriminalised drugs. Results? Use by teens doubled in a decade with nearly a fifth of 15

    10/31/2014 7:30:13 AM PDT · by C19fan · 26 replies
    UK Daily Mail ^ | October 30, 2014 | Steve Doughty
    The nation held up by the Liberal Democrats yesterday as a shining example of how to win the war on drugs is far from the unqualified success story they make out. For the number of children using drugs in Portugal has more than doubled since the country’s laws were liberalised, the latest figures show. A decade after the law was relaxed, nearly a fifth of 15 and 16-year-olds use drugs – well over twice the number in the years before decriminalisation. The controversial Home Office report commissioned by the Liberal Democrats states: ‘It is clear that there has not been...
  • France and Friends: Merkel Increasingly Isolated on Austerity

    09/06/2014 4:20:58 AM PDT · by Olog-hai · 13 replies
    Der Spiegel ^ | September 03, 2014 – 04:41 PM | Nikolaus Blome, Ralf Neukirch, Christian Reiermann, Mathieu von Rohr and Christoph Schult
    The debate over Germany’s insistence on eurozone austerity has flared anew as an ailing France continues to demand economic stimulus. The European Central Bank may now be siding with Paris, leaving Merkel looking increasingly alone. […] Berlin is particularly alarmed by the stance taken by ECB head Mario Draghi. At the annual conference of top central bankers from around the world at Jackson Hole, Wyoming in August, Draghi surprised those present by saying “there is leeway to achieve a more growth-friendly composition of fiscal policies.” It was a comment that came close to the kind of debt-fueled growth stimulus measures...
  • Ahead Of Brazil's Presidential Elections, Newcomer Silva Rises In Polls Against Rousseff

    08/31/2014 10:49:20 AM PDT · by Perdogg · 3 replies
    Brazil's once humdrum presidential race now resembles one of the country's famed soap operas, with a newcomer thrust into the spotlight by a plane crash and the longtime favorite reeling from a one-two punch of bad news. With just over a month to go before the Oct. 5 vote, President Dilma Rousseff awoke to newspaper headlines Saturday announcing that Brazil's long-sputtering economy had officially entered recession for the first time in more than five years.
  • Couple Falls to Death While Taking Selfies on Cliff(Selfies turn fatal, again.)

    08/12/2014 8:59:44 AM PDT · by Jack Hydrazine · 35 replies
    BetaBeat.com ^ | 11AUG2014 | Jordyn Taylor
    Today in horrific news, a Polish couple vacationing in Portugal fell to their deaths while taking selfies on a cliff. The couple and their children had been visiting cliffs at Cabo da Roca when the tragic incident occurred, WILX 10 reports. They fell from the cliff top into the Atlantic Ocean, where rescue workers were eventually able to retrieve their bodies. The couple’s children are now reportedly in the care of Polish diplomats, and have visited with psychologists. Sadly, this isn’t the first time a selfie has turned fatal. Earlier this month, we reported on the man in Mexico who...
  • Operation Change The Subject - While world falls apart, Dems obsess over Limbaugh and impeachment

    08/01/2014 6:31:46 PM PDT · by BlopAndStop · 9 replies
    The Media Equalizer ^ | August 01, 2014 | Brian Maloney
    What’s really important in today’s troubled world? One might think the answers are obvious: the disturbing war between Hamas and Israel that threatens to spread into something much larger, out-of-control spread of Ebola in Africa, corporate and sovereign defaults in Portugal and Argentina, Chinese military aggression in South Asia and whatever else we may have left out. But to Democrats, the focus is on Operation Change The Subject 2014, as partisans shift blame for presidential inaction away from Obama just as he heads to Martha’s Vineyard for yet another extended holiday.
  • Cristiano Ronaldo’s Mother Admits She Tried to Abort Real Madrid Star Using Alcohol While Pregnant

    07/19/2014 12:20:22 PM PDT · by nickcarraway · 7 replies
    Metro UK ^ | Friday 18 Jul 2014
    The mother of Real Madrid superstar Cristiano Ronaldo has admitted that she drank alcohol and ran until she ‘dropped’ in an attempt to abort him while she was pregnant. Dolores Aveiro revealed the story in a biography called Mother Courage, which was released in Portugal today. In the book, Mrs Aveiro admitted that she tried to abort Ronaldo – who is the youngest of four children – by drinking warm beer and running ’till she dropped’ following the refusal of doctors to carry out the procedure. She said: ‘I wanted to abort but the doctor didn’t support my decision.’ Mrs...
  • Holding Company Of Portugal's 2nd Largest Bank Just Filed For Bankruptcy Protection

    07/18/2014 12:41:10 PM PDT · by Former Proud Canadian · 10 replies
    Zerohedge ^ | July 18, 2014 | Tyler Durden
    Following this morning's farce of huge investor demand and then Bank of Portugal's Costa 'hoping' for demand from investors willing to pile more money on losing money into Espirito Santo, it appears things have escalated rapidly... *ESPIRITO SANTO INTERNATIONAL SAYS IT CAN'T MEET OBLIGATIONS *ES INTERNATIONAL APPLIES FOR `CONTROLLED MANAGEMENT' REGIME *ES INTERNATIONAL APPLIES FOR REGIME UNDER LUXEMBOURG LAW The "controlled management" application is the equivalent of declaring a breakup or controlled bankruptcy process (as we explained here). ESI is the ultimate HoldCo in the Banco Espirito Santo family.
  • EU states promote settler boycott amid Israel crisis

    07/04/2014 6:16:59 AM PDT · by Olog-hai · 14 replies
    EU Observer ^ | 07/04/2014 @ 09:27 | Andrew Rettman
    Twelve EU countries have warned investors not to do business with Israeli settler entities, amid a security crisis in Israel and Palestine. The group includes: Austria; Belgium; Croatia; Denmark; Finland; Greece; Ireland; Luxembourg; Malta; Portugal; Slovakia; and Slovenia. Portugal published its statement on Wednesday (2 July) and the others came out on Thursday. France, Italy, and Spain put out similar communiques earlier this week. Germany and the UK already did it months ago. Poland is expected to publish a warning shortly. The Irish foreign ministry said the action “has been coordinated at EU level”. …
  • Astronomy Picture of the Day -- Lisbon Honey Moon

    06/21/2014 1:46:10 PM PDT · by SunkenCiv · 4 replies
    NASA ^ | June 21, 2014 | (see photo credit)
    Explanation: The Sun set on Friday the 13th as a full Honey Moon rose, captured in this well-planned time-lapse sequence. Lisbon, Portugal's Christ the King monument is in the foreground, about 6 kilometers distant from camera and telephoto lens. During the days surrounding today's solstice (June 21, 10:51 UT) the Sun follows its highest arc through northern hemisphere skies as it travels along the ecliptic plane. At night the ecliptic plane is low, and the Full Moon's path close to the ecliptic was also low, the rising Moon separating more slowly from the distant horizon. Northern moon watchers were likely...
  • Cristiano Ronaldo could be out of World Cup: reports

    06/18/2014 1:34:23 PM PDT · by SeekAndFind · 11 replies
    CBC Sports ^ | 06/18/2014
    There are reports that Portugal star Cristiano Ronaldo could be out of the World Cup due to a lingering knee injury. On Wednesday, Portugal's doctor reportedly told the striker that he could risk serious damage if he continues playing in the tournament. Ronaldo didn't comment. But he needed an ice pack for his troublesome left knee during a training session, as Portugal prepared for its World Cup match against the United States.
  • Israeli Hackers Strike Back at Anonymous OpIsrael, Expose Participants With Their Own Webcams

    04/10/2014 7:19:42 PM PDT · by Olog-hai · 45 replies
    The Algemeiner ^ | April 10, 2014 6:19 PM | Shiryn Ghermezian
    An Israeli hacker team published on Tuesday images and personal details of members of the Anonymous hacker collective who participated in the OpIsrael attack against Israeli sites earlier this week, Israel’s Channel 2 reported. Israeli Elite Force gained access to the computers of 16 Anonymous members and was able to capture screenshots and photos of the anti-Israel hackers with their own webcams. The Israeli team published the information in a Dropbox document via their Facebook page, saying, “Anonymous, next time do not mess with us.” The file includes the names of the attackers, their countries of origin, and usernames and...
  • Myths Of British Ancestry

    09/28/2007 7:42:35 AM PDT · by blam · 87 replies · 140+ views
    Prospect ^ | 10-2006 | Stephen Oppenheimer
    Myths of British ancestry October 2006Stephen Oppenheimer Everything you know about British and Irish ancestry is wrong. Our ancestors were Basques, not Celts. The Celts were not wiped out by the Anglo-Saxons, in fact neither had much impact on the genetic stock of these islands The fact that the British and the Irish both live on islands gives them a misleading sense of security about their unique historical identities. But do we really know who we are, where we come from and what defines the nature of our genetic and cultural heritage? Who are and were the Scots, the Welsh,...
  • Spain Rules Catalonia Independence Referendum "Unconstitutional"

    03/27/2014 1:15:27 PM PDT · by SeekAndFind · 17 replies
    Zero Hedge ^ | 03/27/2014 | Tyler Durden
    With Scotland moving ever closer, Crimea having chosen their own path, and Venice overwhelmingly voting for secession from Italy, the Spanish government has put its foot down on the Catalonia's planned independence referendum. As Time reports, In a Tuesday ruling, Spanish judges found Catalonia’s planned independence referendum to be unconstitutional. Of course, just as in Crimea, this is being ignored by the Catalan government - a region seen as the powerhouse of the Italian economy - who exclaimed "this will have no effect on the process." Via Time, ... In a Tuesday ruling, Spanish judges found Catalonia’s planned independence referendum to...
  • Spain Says Catalonia Can’t Vote for Independence, But Catalans Will Go Ahead Anyway

    03/27/2014 11:49:09 AM PDT · by Rusty0604 · 11 replies
    Time ^ | 03/26/2014 | Per Liljas
    In a Tuesday ruling, Spanish judges found Catalonia’s planned independence referendum to be unconstitutional, but secessionists in the Spanish autonomous region (called a “community” in Spain) have vowed to proceed regardless. Although stifled under the yoke of the Franco dictatorship, Catalonia has long felt cultural and linguistic disctinction from the rest of Spain. In recent years, it developed into a powerhouse of the nation’s economy. However, amid the country’s financial crisis, Madrid has been urging national unity.
  • Boat of 160,000 wine corks makes waves

    07/19/2002 12:25:57 AM PDT · by stilts · 5 replies · 203+ views
    The Times of India ^ | July 19, 2002 | Reuters
    LISBON: A boat built of 160,000 wine corks has completed a 17-day voyage up one of Portugal’s most famous rivers, fulfilling a lifelong dream of its American builder. John Pollack, a one-time speechwriter for former President Bill Clinton, spent 30 years collecting corks for his project. He was delighted even though the voyage up the Douro river took twice as long as he had expected. “This proves the idea that if you have a dream you can achieve it and you don’t have to worry about looking silly,” Pollack, 36, said.He had expected the 265-km (165-mile) trip to take a...
  • Scientists find dinosaur that was scourge of Jurassic Europe

    03/06/2014 6:37:05 AM PST · by C19fan · 23 replies
    Reuters ^ | March 5, 2014 | Will Dunham
    In Europe 150 million years ago, this dude was the biggest, baddest bully in town. Two scientists in Portugal announced on Wednesday that they have identified the largest carnivorous dinosaur ever found in Europe, a 33-foot-long (10-meter-long) brute called Torvosaurus gurneyi that was the scourge of its domain in the Jurassic Period.
  • Brazil champions undersea cable to bypass US

    02/25/2014 10:33:45 PM PST · by Olog-hai · 26 replies
    EU Observer ^ | 25.02.14 @ 09:46 | Nikolaj Nielsen
    A proposal to lay an undersea cable between Portugal and Brazil to circumvent US snooping has been praised by Brazilian President Dilma Rousseff. Rousseff on Monday (25 February) in Brussels at the annual EU-Brazil summit told reporters that privacy, human rights, and the sovereignty of nations must be respected. “The internet is one of the best things man has ever invented. So we agreed for the need to guarantee … the neutrality of the network, a democratic area where we can protect freedom of expression,” she said. Brazilian state-owned telecom provider Telebra is reported to have cut a deal last...
  • Spain grants right of dual nationality to Sephardi Jews

    02/10/2014 5:13:52 AM PST · by cll · 20 replies
    Israel Hayom ^ | 2/09/2014 | Eli Leon
    More than 500 years after the Spanish Inquisition, the Spanish government has voted to facilitate the naturalization of Jewish families of Spanish descent, without demanding they give up their other citizenship. Queen Isabella and King Ferdinand of Spain must be rolling in their graves: The government in Madrid on Friday approved legislation that would allow descendents of Jews who were exiled from Spain to be naturalized in the country without having to give up their former citizenship, which had been the law until now. Spanish Justice Minister Alberto Ruiz-Gallardon said that Spain "is indebted to Spanish Jews for spreading the...
  • 18 Bookstores Every Book Lover Must Visit At Least Once

    02/16/2014 9:56:37 PM PST · by expat1000 · 36 replies
    Have a look!
  • Welfare spending: how Britain outstrips Europe

    01/19/2014 2:30:35 AM PST · by Berlin_Freeper · 6 replies
    telegraph.co.uk ^ | 15 Jan 2014 | Joel Gunter and Dan Palmer
    Welfare spending in Britain has increased faster than almost any other country in Europe since 2000, new figures show. The cost of unemployment benefits, housing support and pensions as share of the economy has increased by more than a quarter over the past thirteen years – growing at a faster rate than in most of the developed world. Spending has gone up from 18.6 per cent of GDP to 23.7 per cent of GDP – an increase of 27 per cent, according to figures from the OECD, the club of most developed nations. By contrast, the average increase in welfare...
  • MEPs call for dismantling of EU bailout “troika”

    01/16/2014 6:03:44 PM PST · by Olog-hai · 1 replies
    EU Observer ^ | 16.01.14 @ 09:58 | Valentina Pop
    The “troika” of international lenders, which sets the terms of eurozone bailouts with little or no democratic oversight, should be replaced by an EU system which is accountable to the European Parliament, MEPs say. “All European instruments that are not based on EU law are provisional. EU instruments should be based on the community method, with the European Parliament acting as democratic legitimator and control body,” Austrian center-right deputy Othmar Karas told press in Strasbourg on Wednesday (15 January). Karas is drafting a report together with a French Socialist colleague, Liem Hoang-Ngoc, on the work of the troika. The name...
  • Portuguese Soccer Great Eusebio Is Dead at 71

    01/05/2014 1:52:17 PM PST · by EveningStar · 3 replies
    AP via The New York Times ^ | January 5, 2014
    LISBON, Portugal — Eusebio, the Portuguese soccer star who was born into poverty in Africa but became an international sporting icon and was voted one of the 10 best players of all time, has died at 71, his longtime club Benfica said. He died Sunday, the club announced on its website, without providing details. Eusebio died at home of heart failure, his biographer, Jose Malheiro, said.
  • A Left-Wing America Stands Alone

    12/26/2013 4:13:49 AM PST · by IbJensen · 73 replies
    Front Page Magazine ^ | December 26, 2013 | Daniel Greenfield
    American progressives like to think of their country as backward and reactionary compared to Europe. And they have never been more right than now when Europe and the rest of the First World have gone right while America under Obama has been left back. Recently Australia, Japan and Norway welcomed in conservative governments. Tony Abbott, Australia’s new prime minister, is a former heavyweight boxer who attended Oxford and is putting a spoke in the wheel of the Global Warming ecohoax. Japan is casting off its pacifism and standing up to the People’s Republic of China and Norway gave its left-wing...
  • EU puts Turks on 10-year timeline

    10/06/2004 10:25:30 AM PDT · by knighthawk · 15 replies · 293+ views
    The Australian ^ | October 06 2004 | Nicolas Rothwell
    AFTER 40 years of hesitation and seven hard years of reform and lobbying, Turkey is basking today in the most qualified of invitations to begin the process of joining Europe - a continent whose eastern half the Ottoman empire controlled for centuries. A European Commission report released yesterday, which paves the way for a deciding vote by the 25-member European Union at its December summit, was heavily qualified, and Turkish leaders were muted in their expressions of delight at their initial success. Presenting the decision to the European parliament last night, commission president Romano Prodi said it was a "qualified...
  • French President in Israel Seeking Improved Political and Economic Ties

    11/24/2013 8:56:55 AM PST · by SunkenCiv · 12 replies
    The Media Line ^ | Sunday, November 17, 2013 | Felice Friedson and Rye Druzin
    ...Hollande is much more focused on tapping into Israel’s know-how to help his country’s beleaguered economy. “Israel is, from an economic point of view, with the high-tech industry, considered to be very valuable,” Dr. Tsilla Hershco, a senior research associate at Bar-Ilan University's Begin-Sadat (BESA) Center for Strategic Studies told The Media Line. “With all the turmoil around us, Israel is considered the one stable state in the Middle East from a political and economic point of view.” France has suffered greatly since 2008, when a worldwide economic downturn brought the European Union to the brink of collapse. Since then,...
  • Madeleine McCann: A new kidnapping suspect emerges in 2007 case

    11/02/2013 9:07:16 AM PDT · by nuconvert · 5 replies
    -excerpt- British and Portuguese media now report that the leading suspect is Euclides Monteiro, an immigrant who was a restaurant worker at the Ocean Club resort in Praia da Luz, which is where the nearly four-year old Madeleine McCann was last seen. Monteiro was fired shortly before her disappearance and may have kidnapped the girl as an act of revenge against his former employer, according to the Portuguese daily Correio da Manha. Another theory is that Monteiro stumbled upon Madeleine when he was robbing her parents room. Monteiro was a heroine addict, reports the Daily Mirror, and was fired for...
  • Original Manuscript of Fatima's 'Third Secret' Will Soon be Part of an Exhibit

    11/01/2013 9:02:46 AM PDT · by marshmallow · 24 replies
    Rome Reports ^ | 11/1/13
    November 1, 2013. (Romereports.com) The Shrine of Our Lady of Fatima in Portugal, will soon have Sister Lucia's handwritten letter, where she describes the third secret Our Lady revealed back on June 1917. The exhibit, titled 'Secret and Revelation' will open to the public on November 30th. Since 1957 the document has been stored at the Vatican, as part of the archives of the Congregation for the Doctrine of the Faith.
  • UK police: McCann disappearance timeline changed

    10/13/2013 7:11:59 AM PDT · by nuconvert · 7 replies
    British police said Sunday the timeline and version of events surrounding the disappearance of Madeleine McCann has "significantly changed," allowing them to build their most detailed reconstruction of the case yet.
  • Portugal Sovereign Debt Unsustainable At 120% Debt/GDP (What About USA?)

    10/08/2013 5:28:00 AM PDT · by whitedog57 · 3 replies
    Confounded Interest ^ | 10/08/2013 | Anthony B. Sanders
    The sustainability of Portugal’s sovereign debt remains questionable even after the EC, ECB and IMF released an optimistic view last week following the eighth and ninth review mission to the country. The troika raised its GDP growth forecasts for the Portuguese economy. The figure for 2013 was increased to minus 1.8 percent from minus 2.3 percent. The number for the following year was lifted to 0.8 percent from 0.6 percent. At least there is progress. But Portugal has an unsustainable debt to GDP of 120%. portugaldebt Portugal has the second highest sovereign ten year yield in the EU after Greece....
  • Germany and Poland: EU needs more democracy

    09/18/2012 3:41:52 AM PDT · by Cronos · 1 replies
    thelocal.de ^ | 18 Sep 2012 | TL
    "We've been looking at how we can bring back confidence in the European Union," German Foreign Minister Guido Westerwelle said in Warsaw late on Monday as he arrived for a meeting of ministers in the Future of Europe Group, which he launched in March. The 11-nation group is poised to submit a raft of recommendations to Herman Van Rompuy and Jose Manuel Barroso - heads, respectively, of the bloc's intergovernmental and executive branches, neither of whom are elected by the EU's 500 million people. "We have to understand that we are a community of values and we have to defend...
  • European banks to quit London if UK left EU: Goldman executive

    09/03/2013 9:53:52 AM PDT · by Olog-hai · 23 replies
    Reuters ^ | Mon Sep 2, 2013 1:30pm EDT
    European banks would leave London “in very short order” if Britain voted to exit the European Union, a senior Goldman Sachs executive said in a newspaper interview published on Monday. Michael Sherwood, a vice-chairman at the bank, said the prospect of a British withdrawal was a real worry given Prime Minister David Cameron’s plans to hold a referendum on the subject if re-elected in 2015. … Goldman’s Sherwood predicted European banks would quickly relocate if Britain did sever its EU ties. “Forget what we would do. Every European firm would be gone in very short order,” he was quoted as...
  • Britain to be roped into EU rescue aid for Greece

    08/25/2013 12:10:51 PM PDT · by DeaconBenjamin · 8 replies
    Telegraph (UK) ^ | 8:00PM BST 25 Aug 2013 | By Ambrose Evans-Pritchard
    The European Commission is planning use of EU budget funds for the next rescue of Greece, roping Britain into future responsibility for shoring up the eurozone currency structure. Günther Oettinger, Germany's EU commissioner, said on Sunday that a third package worth over €10bn will be needed in 2014 and will partly come in the form of direct help rather than a debt haircut for existing creditors. Most of the rescue aid so far for Greece, Portugal, Cyprus, and Spain's banking system has come from the eurozone's rescue machinery, outside the EU treaty structure. Use of EU budget funds appears not...
  • Chinese super-rat roamed Earth 160 million years ago

    08/20/2013 2:27:01 PM PDT · by Red Badger · 33 replies
    Phys.Org ^ | 08-15-2013 | Staff
    A fossil of the oldest known ancestor of modern rats—an agile creature that could climb, burrow and eat just about anything—has been unearthed in China, scientists said Thursday. The newly named species Rugosodon eurasiaticus had flexible ankles for tree-climbing and sharp teeth that could gnaw both animals and plants, according to the journal Science. These adaptations helped the ancient rat-like rodents known as multituberculates become among the longest lived mammals in history, said the study led by Chong-Xi Yuan from the Chinese Academy of Geological Sciences in Beijing. Believed to originate 160 million years ago during the Jurassic Period, they...
  • EU agrees to rescue debt-ridden Greece

    03/27/2010 7:54:51 AM PDT · by myknowledge · 9 replies · 430+ views
    Nine News ^ | March 27, 2010 | Claire Rosemberg
    The euro firmed and Athens breathed a sigh of relief after European leaders agreed to rescue debt-ridden Greece, but markets stayed cautious amid lingering concerns over the currency's health. "I think Europe proved its capacity for action on a major issue," said German Chancellor Angela Merkel as European Union leaders wound up a two-day summit mulling a new 10-year jobs and growth strategy for the bloc's half a billion people. "For all of us it is important that our common currency ... remains stable and that's why yesterday was important for the euro," Merkel said of a rescue plan brokered...
  • NARAL Dings Liberal Reporter, David Gregory for Calling 20-Week Abortion Ban 'Reasonable'

    07/23/2013 11:26:46 AM PDT · by SeekAndFind · 14 replies
    Christian Post ^ | 07/23/2013 | Napp Nazworth
    NARAL Pro-Choice America, formerly known as the National Abortion Rights Action League, appears concerned it may be losing the battle to depict a 20-week abortion ban as "extreme." The group expressed outrage that a host on NBC, a network usually sympathetic to abortion rights advocates, implied the 20-week ban is "reasonable." "Is it not reasonable to put late-term restrictions on abortion ... ?" David Gregory of "Meet the Press" asked Senate Majority Leader Harry Reid on July 14. Gregory pressed Reid twice more, repeatedly using the word "reasonable," after Reid continued to dodge the question. Reid promised to "look at"...
  • The wheels are coming off the whole of southern Europe

    07/11/2013 1:39:59 PM PDT · by mojito · 53 replies
    The Telegraph ^ | 7/10/2013 | Ambrose Evans-Pritchard
    Europe’s debt-crisis strategy is near collapse. The long-awaited recovery has failed to take wing. Debt ratios across southern Europe are rising at an accelerating pace. Political consent for extreme austerity is breaking down in almost every EMU crisis state. And now the US Federal Reserve has inflicted a full-blown credit shock for good measure. None of Euroland’s key actors seems willing to admit that the current strategy is untenable. They hope to paper over the cracks until the German elections in September, as if that is going to make any difference. A leaked report from the European Commission confirms that...
  • Ocean of Red: Global Sovereign Yields Spike As BOJ Holds Off On More Stimulus

    06/11/2013 7:21:18 AM PDT · by whitedog57 · 2 replies
    Confounded Interest ^ | 06/11/2013 | Anthony B. Sanders
    The Bank of Japan decided to hold back on its unprecedented monetary stimulus (at least on hold). Soveregin yields around the world rose on the news. Japan and the US yields only rose 4 basis points, but Greece 10 year yields spiked 86 basis points. The global fear of retracting Fed support is palpable. Equity markets fell around most of the world as well. The USD/JPY Yen exchange rate? Since May 2nd, the USD/JPY rate rose after May 2nd, but has been declining as of late. And Fannie Mae 30 year 3.0% duration (risk) continue to rise since May 2nd....
  • EU potential for social unrest is world's highest: ILO

    06/04/2013 4:48:27 AM PDT · by Oldeconomybuyer · 6 replies
    Reuters ^ | June 3, 2013 | By Robert Evans
    The potential for social unrest in European Union countries is higher than anywhere else in the world and the already yawning gaps between rich and poor, a major trigger, are likely to widen globally, the International Labour Organisation said on Monday. Those most vulnerable, the report said, were Cyprus, Czech Republic, Greece, Italy, Portugal, Slovenia and Spain. However the risk of social unrest had declined in Belgium, Germany, Finland, Slovakia and Sweden since 2010. Overall, the risk of unrest in the EU "is likely to be due to the policy responses to the ongoing sovereign debt crisis and their impact...
  • Another Sign of the Eurozone Falling Apart

    05/30/2013 1:18:23 PM PDT · by Kaslin · 3 replies
    Townhall.com ^ | May 30, 2013 | Mike Shedlock
    In an interesting development in the battle to see which country is bright enough to exit the euro first, a book urging a return to the Escudo (the prior Portuguese currency) became an instant a bestseller in Portugal. The Wall Street Journal reports Idea of Euro Exit Finds Currency in Portugal. A book by a Portuguese economist achieved a small feat on its release last month: It instantly topped Portugal's bestseller list, overtaking several diet books and even the popular erotic novel "Fifty Shades of Grey." The book, "Why We Should Leave the Euro" by João Ferreira do Amaral, has...
  • Islamist Video: First We Conquer Somalia, Then On to Conquer Spain!

    04/03/2009 6:24:24 PM PDT · by Cindy · 13 replies · 571+ views
    THE JAWA REPORT ^ | By Rusty at April 3, 2009 04:59 PM | n/a
    April 03, 2009 Think Islamist extremists don't have their eyes on conquering Europe? Think again. This video produced by Ibnul Akwa links the recent successes of Shabaab in Somalia and of al Qaeda in the Islamic Maghreb in Eastern North Africa with the eventual reconquista of Spain. There's nothing original here...
  • Brussels gravy train like “last days of Rome”: EU MEPs earn up to 740% more than average citizen…

    05/23/2013 1:17:28 PM PDT · by Olog-hai · 13 replies
    Daily Mail (UK) ^ | 10:46 EST, 23 May 2013 | Alan Hall
    The gilded lifestyle of MEPs has been compared to the uncontrolled excesses of ancient Rome after research showed their perks have not been dented despite biting austerity measures. From Italian MEPs who enjoy free haircuts to Maltese ones who get 52 free gallons of petrol a month, the perks—and expenses—continue unabated for the representatives of European Union nations. MEPs from the 27 EU nations are paid salaries of £137 million ($207 million) a year, according to research by German pricing watchdog Preisvergleich.de, and some earn 740 percent more than the average citizen. …
  • EU to ban olive oil jugs from restaurants

    05/17/2013 9:57:43 PM PDT · by Olog-hai · 56 replies
    Daily Telegraph (UK) ^ | 5:52PM BST 17 May 2013 | Bruno Waterfield
    The European Union is to ban olive oil jugs and dipping bowls from restaurant tables in a move described by one of Britain’s top cooks as authoritarian and damaging to artisan food makers. The small glass jugs filled with green- or gold-colored extra virgin olive oil are familiar and traditional for restaurant goers across Europe, but they will be banned from 1 January 2014 after a decision taken in an obscure Brussels committee earlier this week. From next year, olive oil “presented at a restaurant table” must be in prepackaged factory bottles with a tamper-proof dispensing nozzle and labeling in...
  • UKIP will cause political earthquake in European elections, says Nigel Farage

    05/05/2013 11:06:53 AM PDT · by SunkenCiv · 20 replies
    Guardian UK ^ | Sunday, May 5, 2013 | Nicholas Watt
    Amid growing calls from Tory MPs for David Cameron to respond to the Ukip threat by bringing forward legislation on an EU referendum, Farage warned that his party would not go away even if No 10 "starts singing the same song". William Hague, who famously suffered a major defeat in the 2001 election after tacking to the right, called for a cautious response to Ukip as he warned of the dangers of "quick fixes". Philip Hammond, the defence secretary, said many Ukip voters were "frustrated Conservatives". As the Tories work out their response to Ukip, which won nearly a quarter...
  • Despite costly bailouts, Germany still benefits from the euro: Study

    05/04/2013 1:01:38 AM PDT · by Olog-hai · 8 replies
    EurActiv ^ | 03 May 2013
    Even if Germany had to write off the loans it extended to Southern European countries as part of the eurozone’s emergency rescue measures, the economic advantages of its membership would still be overwhelming, according to a recent study by the Bertelsmann Stiftung. … “Without the euro, growth of the real gross domestic product [GDP] in Germany would be lower by about 0.5 percentage points per year,” the study says, warning that without that euro, Europe “would fall apart politically” and become “a losing player in international competition.” And projections for the future are looking bright, the study adds. “Adding up...
  • EU: Italy should use its gold reserves to force a change in EMU policy

    05/03/2013 11:41:22 PM PDT · by bruinbirdman · 9 replies
    The Telegraph ^ | 5/2/2013 | Ambrose Evans-Pritchard
    The World Gold Council has advised Italy to deploy its 2,000 tonnes of gold to break free of EMU austerity dictates. By using the reserves – the world's fourth largest – to collateralise the first chunk of any losses for bondholders, Italy could raise €400bn or so on the capital markets and determine its own future for a while. Italy did this in 1974 when it borrowed $2bn from the Bundesbank, using gold as collateral. Portugal did the same thing to borrow $1bn from the BIS in the 1975-1977, and India used its gold to borrow from Japan in 1991....
  • Ireland and Portugal given extra time to pay back bailout loans

    04/13/2013 10:34:12 PM PDT · by Olog-hai · 2 replies
    European Voice ^ | 12.04.2013 / 23:03 CET (April 12) | Ian Wishart
    The European Union’s finance ministers today decided to give Ireland and Portugal an extra seven years to pay back loans granted to them as part of their bailouts. The decision, taken by ministers at their meeting in Dublin, should make it easier for those countries to leave their bailout programs and return to normal bond financing markets in the coming months. … Ireland was forced into a €67.5 billion ($88.3 billion) rescue in November 2010 and will receive its last installment in November this year. Portugal obtained a deal worth €78 billion ($102 billion) in May 2011 and will receive...
  • Austria attacks UK as EU finance talks get ugly

    04/12/2013 6:25:31 PM PDT · by Olog-hai · 12 replies
    EU Observer ^ | 12.04.13 @ 09:28 (April 12) | Andrew Rettman
    Austria has accused the UK of being a haven for money launderers ahead of an EU meeting in Dublin, with Cyprus, Ireland, Portugal and Slovenia’s (potential) bailout needs also on the agenda. The Austrian finance minister, Maria Fekter, described Britain as “the island of the blessed for tax evasion and money laundering” in an interview with her country’s Kurier newspaper on Thursday (11 April). Comparing the UK and its “protectorates”—micro-states subject to British law—to Cyprus in terms of hosting secretive foundations and trusts, she noted: “Just as we urged the abolition of sealed foundations in the Cyprus rescue to drain...
  • Netherlands, Portugal, the Next EU Chips to Fall?

    04/08/2013 9:10:06 AM PDT · by SeekAndFind · 6 replies
    Townhall ^ | 04/08/2013 | Michael Shedlock
    Most attention lately has been on Cyprus, Spain, and Italy. Long-time troubles have been brewing in Portugal and I have an update coming up shortly. First consider Underwater: The Netherlands Falls Prey to Economic Crisis.The Netherlands, Berlin's most important ally in pushing for greater budgetary discipline in Europe, has fallen into an economic crisis itself. The once exemplary economy is suffering from huge debts and a burst real estate bubble, which has stalled growth and endangered jobs. "Underwater" is a good description of the crisis in a country where large parts of the territory are below sea level. Ironically, the...
  • Eurozone Faces New Challenge As Portugal Blocks Cuts [No Salary And Pension Cuts For State Workers!]

    04/07/2013 12:51:59 PM PDT · by Steelfish · 16 replies
    Telegraph (U.K.) ^ | April 07, 2013 | Philip Aldrick
    Eurozone Faces New Challenge As Portugal Blocks Cuts The eurozone crisis threatens to flare up again this week after Portugal's constitutional court blocked the country's planned austerity programme. By Philip Aldrick 07 Apr 2013 The single currency bloc has already been destabilised by Cyprus and now faces fresh uncertainty if Lisbon cannot find new savings to meet the conditions of its €78bn (£66bn) bail-out. Pedro Passos Coelho, Portugal’s prime minister, said last night that the rejection posed “serious obstacles and risks” to Portugal’s progress in meeting its bail-out commitments, but that it would “do everything to avoid a second rescue”....