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  • TEDxAcademy - Yanis Varoufakis - A Modest Proposal for Transforming Europe (bypass of old media)

    07/07/2015 1:31:57 PM PDT · by longtermmemmory · 1 replies
    Ted Talks ^ | Oct 18, 2011 | Yanis Varoufakis
    Uploaded on Oct 18, 2011 Professor Varoufakis proposes a decentralized system for europe in order to transform it before the crisis of the system crashes Europe. He studies all the different possibilities of actions that can be taken and explains why his proposal is the best option. Studied mathematics at Essex University, received an MSc in mathematical statistics from the University of Birmingham and then, curiously, completed a PhD in... economics at Essex University. Between 1982 and 1988 he taught at the Universities of Essex, East Anglia and Cambridge. From 1988 to 2000 he lived in Sydney, where he lectured...
  • Thank Goodness The Stupid, Socialist Greeks Said "No" To A Bailout!

    07/07/2015 5:29:11 AM PDT · by Kaslin · 20 replies
    Townhall.com ^ | July 7, 2015 | John Hawkins
    “The problem with socialism is that you eventually run out of other people's money.” – Margaret Thatcher Greece is liberal economics on steroids, Detroit writ large, and a place where the "takers" outnumber the "makers." In other words, if you want to know what the end road is for the sort of economics pushed by people like Barack Obama, Hillary Clinton and Paul Krugman, Greece is it. According to the World Bank, Greece’s labor participation rate is only 53%. It’s hard for private industry to take advantage of an underemployed populace because government regulations and powerful unions make it difficult...
  • As Greece collapses, the big loser is socialism

    07/07/2015 2:44:01 AM PDT · by RoosterRedux · 39 replies
    foxnews.com ^ | Stephen Moore
    There are no good options for now to end this Greek tragedy. Its best for Greece to take the least bad option, which would be forced bankruptcy. Let Greece go bankrupt. And then let this once rich nation, hit the restart button to rebuild its economy. What Im suggesting for Greece is what we might call the Detroit option. Put Greece under receivership and let these new authorities figure out how to manage the debt and decide who will take a hair cut pensioners, bond holders, welfare recipients, government workers, the IMF. Its tough love, but its the only...
  • Seven reasons why Yanis Varoufakis is now a political legend (Humor at EU, "Minister of Awesome")

    Whether you like him or not, former Greek Finance Minister Yanis Varoufakis is now a political legend. Heres why: 1. The way he communicates With his blog and his Twitter account , he speaks directly to the people, his fans and his detractors, when he wants, how he wants it, without the media filter. Non-verbal communication is important too. The infamous video of Varoufakis flipping his middle finger to Germany, which caused uproar in German media, may or may not have been faked by a German satirical TV show. In the end it doesnt really matter. He may have an...
  • Israel, China in Talks to Become Major Financial Allies

    07/07/2015 6:57:33 AM PDT · by lbryce · 8 replies
    Arutz Sheva ^ | July 7, 2015 | Ari yashar
    Israel has been rapidly expanding ties with leading Asian nations even as threats of boycotts continue to emanate from Europe, and a major breakthrough regarding Israel's presence in Asia appears to be imminent as the state moves towards a Free Trade Agreement (FTA) with China. Chinese media began discussing the prospect of a FTA with Israel last December, and on Monday Economics Minister Aryeh Deri (Shas) met in Jerusalem with Chinese Ambassador to Israel Zhan Yongxin for the first time to discuss establishing a free trade zone. In the meeting Deri expressed Israel's strong desire to establish a free trade...
  • Chinese chaos worse than Greece

    07/07/2015 11:18:21 AM PDT · by Perseverando · 26 replies
    News.com.au ^ | July 7, 3015 | FRANK CHUNG and AFP
    WHILE the world worries about Greece, theres an even bigger problem closer to home: China. A stock market crash there has seen $3.2 trillion wiped from the value of Chinese shares in just three weeks, triggering an emergency response from the government and warnings of monstrous public disorder. LATEST: CHINESE INVESTORS FLEE FOR SAFETY And the effects for Australia could be serious, affecting our key commodity exports and sparking the beginning of a period of recession-like conditions. State-owned newspapers have used their strongest language yet, telling people not to lose their minds and not to bury themselves in horror...
  • Worlds Oldest Active Aircraft Carrier INS Viraat Set to Be Museum Ship in India

    07/07/2015 9:58:31 AM PDT · by sukhoi-30mki · 6 replies
    USNI News ^ | 06 Jul 2015 | Megan Eckstein
    INS Viraat on its 50th anniversary in 2009. Indian Navy Photo The oldest active aircraft carrier in the world will be converted into a docked museum when the ship, now in the Indian Navy, decommissions next year. INS Viraat (R-22) was commissioned in 1959 into the Royal Navy as HMS Hermes (R-12), the last of the Centaur-class conventional aircraft carriers. It was transferred to India in 1987 after undergoing refits and equipment upgrades, according to The Tribune in India. After 57 years of service life, the ship will decommission in 2016. The Tribune reported that Andhra Pradesh Tourism Development Corporation...
  • [illegal] Migrant dies in Channel Tunnel trying to reach Britain, say French authorities

    07/07/2015 4:07:33 AM PDT · by markomalley · 7 replies
    The Telegraph ^ | 7/7/15 | Henry Samuel
    A migrant died on Tuesday trying to reach Britain through the Channel Tunnel, French authorities in the Pas-de-Calais region have confirmed. One of the six sections of the tunnel was closed for investigation, but train traffic had not stopped. It was as yet unclear how the migrant died. Following the detection of migrants on a freight shuttle early this morning, the shuttle was immediately stopped, said the Pas-de-Calais prefecture, the local state authority. During a security inspection by border police, a deceased migrant was found in the tunnel, it said in a statement. Gilles Debove, of the police union Unit...
  • HSBC staff sacked over mock Islamic State execution ["team building exercise"]

    07/07/2015 3:59:25 AM PDT · by markomalley · 6 replies
    The Week ^ | 7/7/15
    Britain's largest bank has fired six of its employees for taking part in a video showing a mock Islamic State-style execution. The seven-second clip shows HSBC staff members in balaclavas standing over an Asian colleague dressed in an orange jumpsuit, whose hands are tied behind his back. A coat hanger is used by one the men as a pretend knife. One of them then shouts "Allahu Akbar" Arabic for "god is greater" a phrase used by Islamic State militants during executions. The stunt was filmed while the employees were on a corporate team-building exercise and was posted on...
  • Cleric said to be behind Tunisian beach massacre is living on benefits in Britain

    07/06/2015 2:02:16 PM PDT · by SeekAndFind · 8 replies
    The Telegraph ^ | 07/06/2015 | By Victoria Ward
    Hani-al-Sibai, described as a 'key influencer' of Tunisian terror group, lives in a 1 million house on a leafy street in fashionable west London _________________________________________________________________________________________________________________________________________________________________________________________________________________________________ A leader of the terrorist group suspected of being behind the Tunisian beach massacre is living in benefits in Britain. Hani al-Sibai, an al-Qaeda cleric suspected of radicalising "Jihadi John", lives in a 1 million house leafy street in fashionable west London. He is said to be one of the "key influencers" of the Islamic fanatics believed to have recruited and trained gunman Seifeddine Rezgui. Egyptian-born al-Sibai, 54, reportedly lives on 50,000 a year in...
  • Furious Rotherham taxi drivers threaten strike action over new regulations in wake of abuse scandal

    07/06/2015 1:46:52 PM PDT · by george76 · 14 replies
    the star ^ | 30 June 2015
    VIDEO: Furious Rotherham taxi drivers threaten strike action over new regulations in wake of abuse scandal . [ Full title ] ... More than 100 furious Rotherham taxi drivers have threatened strike action over new regulations designed to combat child sexual exploitation. A demonstration was held outside Rotherham Town Hall this afternoon, as Commissioner Mary Ney confirmed her intention to introduce the new policy from July 6. The new licensing regime will require all drivers to install CCTV into their vehicles in the next three months. They will also have to demonstrate they are a fit and proper person to...
  • Angela Merkel Faces Monumental Test of Leadership After Greek Vot

    07/06/2015 12:17:36 PM PDT · by McGruff · 19 replies
    NY Times ^ | JULY 6, 2015 | ALISON SMALE and ANDREW HIGGINS
    As chancellor of Germany, Angela Merkel leads a nation that prizes fiscal rectitude and adherence to the rules, and, after pledging tens of billions in bailout programs for five years, has expressed scant sympathy for Greeces demand for more financial help. As de facto leader of Europe, Ms. Merkel faces a very different set of responsibilities, starting with maintaining European unity in general and holding the euro together in particular.
  • Bankruptcy is the only way Greece can fashion a new beginning

    07/06/2015 11:52:23 AM PDT · by Tolerance Sucks Rocks · 32 replies
    The Washington Times ^ | July 5, 2015 | Stephen Moore
    Almost every option facing debt-drenched Greece is bad, but there is only one that will end this Greek tragedy for good. Let Greece go bankrupt. Then let this once-rich nation, hit the restart button to rebuild its economy. What Im suggesting for Greece is what might be called the Detroit option. Put Greece under receivership and let these new authorities figure out how to manage the debt and decide who will take a haircut and how big. Pensioners, bondholders, welfare recipients, government workers, the International Monetary Fund, all will have to settle for less maybe a lot less. Its...
  • HIDDEN CAMERA: Muslim Lawyer Tells Kids ISIS is Just Propaganda and Extremism Doesnt Lead to

    07/06/2015 10:21:19 AM PDT · by Nachum · 5 replies
    Pamela Geller ^ | 7/6/15 | Pamela Geller
    More from the moderates who Western elites are counting on. Imagine this, I was banned from entering the UK (along with Robert Spencer) for our work opposing jihad, but this jihad lawyer was invited to speak on the governments Prevent counter-extremism strategy wherein she tells the gathering that they should resist questions from officers, accusing Prevent of demonizing Muslims. For anyone who might still believe Western elites have any clue as to what their doing, this best illustrates the feckless, reckless suicidal policy of dealing with jihad violent extremism. HIDDEN CAMERA: Muslim Lawyer Tells Kids ISIS is Just Propaganda and...
  • Greece votes No: The European Union is dying before our eyes

    07/06/2015 7:11:47 AM PDT · by Mariner · 49 replies
    The Telegraph (UK) ^ | July 6th, 2015 | By Nigel Farage
    Despite the scaremongering and bullying from those in Brussels, we are waking today with Greece having delivered a resounding No. That comes despite EU bosses saying that it would mean a Greek exit from the Euro, not to mention the heavy economic pressure placed on the Greek people to go along with the wishes of Brussels. It is a crushing defeat for those Eurocrats who believe that you can simply bulldoze public opinion. Chief bully-boy Martin Schulz, President of the European Parliament, and other supposed leaders of the European Union did their best to terrify the Greek people into submitting...
  • It's All Greek To Me

    07/06/2015 5:16:56 AM PDT · by Kaslin · 7 replies
    Townhall.com ^ | July 6, 2015 | Rich Galen
    Let me say, at the outset, that I am so far out of my depth in this issue that if I look up all I see is a sea of numbers. If I were you I would roll my eyes, sigh loudly, hit the DELETE key, and return to a close examination of this morning's postings by your Facebook friends. If you're still with me, hang on. Voters in Greece, yesterday, rejected an austerity program that would have allowed the European Central Bank (the European Union's Fed) to lend money to Greek banks so they would have enough Euros to...
  • Yanis Varoufakis Resigns as Finance Minister of Greece After Vote

    07/06/2015 4:49:37 AM PDT · by SeekAndFind · 11 replies
    New York Times ^ | 07/06/2015 | By LIZ ALDERMAN and JACK EWING
    ATHENS Greeces combative finance minister, Yanis Varoufakis, who took a strong stand in demanding that creditors write off some of his countrys debts, abruptly resigned on Monday morning. Mr. Varoufakis had played a central role in rallying votes for a resounding no on a referendum on Sunday that asked Greeks whether they were willing to accept an arrangement with creditors that would require considerable further austerity, such as pension cuts. Mr. Varoufakis had threatened last week to resign in the event of a yes vote, and his decision to step down after he and his allies prevailed in the...
  • SOCIALISMS GREEK STARING CONTEST

    07/06/2015 4:03:59 AM PDT · by Biggirl · 3 replies
    Frontpagemag.com ^ | July 6, 2015 | Daniel Greenfield
    The Greeks gambled in their referendum that European elites were more committed to their ideological obsession with integrating Europe than with mere economics. Stand up to a bunch of corrupt Greek civil servants and Europe risks going back to the bad old days of nation states and independent economies. It is likely that their bet will pay off.
  • Greek Finance Minister Yanis Varoufakis resigns after 'no' vote against bailout

    07/06/2015 3:20:22 AM PDT · by Enlightened1 · 18 replies
    Fox News ^ | 07/06/15
    Greek Finance Minister Yanis Varoufakis resigned from his post Monday after Greek citizens voted to reject further austerity measures the day prior, the Associated Press reported. Varoufakis said he was told shortly after the voters rejected Sunday's referendum regarding demands by international creditors to impose further austerity measures in exchange for a bailout package for its bankrupt economy, that the other eurozone finance ministers and Greece's other creditors would prefer he not attend the ministers' meetings. Varoufakis issued an announcement saying Prime Minister Alexis Tsipras had judged that Varoufakis' resignation "might help achieve a deal" and that he was leaving...
  • Some White House Republican hopefuls want curbs on legal immigration [Walker, Santorum]

    07/06/2015 2:38:37 AM PDT · by Cincinatus' Wife · 18 replies
    Reuters ^ | July 6, 2015 | Andy Sullivan, editing by Ross Colvin
    Republican 2016 presidential hopefuls Scott Walker and Rick Santorum are suggesting a potentially controversial way to boost Americans' job prospects: admit fewer legal immigrants into the United States. The notion, absent from presidential politics for at least 20 years, could help them tap into the frustrations of working-class voters who have struggled with stagnant wages and reduced job opportunities since the economic crisis of 2007-2009. It could also complicate prospects for a comprehensive fix to the nation's outdated immigration system and tar the Republican Party as anti-immigrant at a time when it needs to broaden its support base of Hispanics...
  • Puerto Rico Shows Greece Needs 50 Billion A Year: And Would Still Fail Even Then

    07/06/2015 12:21:37 AM PDT · by bob_denard · 4 replies
    Forbes ^ | 7/05/2015 | Tim Worstall
    Its true, as Paul Krugman says, that Greece and Puerto Rico are not in exactly the same position. PR is bust to some extent, yes, but its not in the middle of a catastrophe, as Greece is. However, there is also a similarity in their situations, one thats extremely instructive. Theyre both suffering from being in a monetary policy zone, a currency zone, that isnt really suitable for their circumstances. One of the two is in a fiscal policy union as well as that monetary union, the other is not. And its long been agreed that if youre to have...
  • Living here [UK] on 50,000 benefits, the hate preacher who inspired Tunisian beach killer

    07/06/2015 7:25:47 AM PDT · by Lorianne · 8 replies
    Daily Mail UK ^ | 05 July 2015 | Paul Bentley
    A leader of the terror group behind the Tunisian beach massacre is living off benefits in Britain, the Mail can reveal. Jihadi preacher Hani al-Sibai who described the 7/7 terror attacks in London in 2005 as a great victory is one of the key influencers of the Islamic fanatics believed to have recruited and trained gunman Seifeddine Rezgui. But he is living on 50,000 a year in handouts with his wife and five children in a 1 million house in West London, after using human rights laws to thwart attempts to deport him for more than 15 years.
  • The Forgotten Flag of the American Revolution and What It Means

    07/06/2015 3:37:38 AM PDT · by the scotsman · 15 replies
    National Review ^ | 4th July 2015 | Daniel Hannan
    Remembering one of the nations most important banners the Grand Union Flag. We all know the story of American independence, dont we? A rugged frontier people became increasingly tired of being ruled by a distant elite. A group calling themselves Patriots were especially unhappy about being taxed by a parliament in which they were unrepresented. When, in 1775, British Redcoats tried to repress them, a famous Patriot called Paul Revere rode through the night across eastern Massachusetts, crying The British are coming! The shots that were fired the next day began a war for independence which culminated the following...
  • [ From July 23, 2012 ] IS THERE ANY POINT IN THE ROYAL FAMILY? (In UK)

    07/05/2015 10:33:12 PM PDT · by MinorityRepublican · 23 replies
    Joeybarton.com ^ | July 23, 2012
    Does Britain still need the Royal Family? All in favour say aye Lets start with the simple numbers; the Royal wedding cost approximately 20m and it is calculated to have generated 1bn for the economy. Now Im no financial guru, but according to my calculations, thats a hefty profit. God knows what the Jubilee did. OK, so weve established the wedding may have helped our struggling economy, but how else do we benefit from royalty? Aside from the millions of pounds earned from tourists visiting their endless estates and fancy buildings, the Royal Family are highly respected worldwide, they...
  • Defiant Greeks reject EU demands as Syriza readies IOU currency

    07/05/2015 9:10:39 PM PDT · by catnipman · 41 replies
    The Telegraph ^ | 7/5/15 | Ambrose Evans-Pritchard
    "If necessary, we will issue parallel liquidity and California-style IOU's, in an electronic form. We should have done it a week ago," said Yanis Varoufakis, the finance minister. ... Syriza sources say the Greek ministry of finance is examining options to take direct control of the banking system ... They want a new team installed, one that is willing to draw on the central bank's secret reserves, and to take the provocative step in extremis of creating euros. "We have to restore stability to the system, with or without the help of the ECB. We have the capacity to print...
  • Did China's Stock Market Crash Just End Economic Reform?

    07/05/2015 6:43:39 PM PDT · by BenLurkin · 22 replies
    forbes ^ | 7/05/2015 @ 9:59AM
    The beauty of markets is that they have a mind of their own. For the Chinese government, this has been a tough pill to swallow. Try as it might, the Chinese government was unable to arrest the decline in the domestic stock market last week. The central bank cut benchmark interest rates and the amount of money banks must keep with it on reserve. A government investment vehicle made it known that it was buying ETFs. The securities regulator eased regulations on margin trading and the Stock Exchange cut transaction fees. Despite this, the benchmark Shanghai Composite Index declined 12%...
  • Oil prices tumble after Greek no vote to bailout, China stock market turmoil

    07/05/2015 6:55:28 PM PDT · by 2ndDivisionVet · 54 replies
    Reuters ^ | July 5, 2015 | Aaron Sheldrick and Henning Gloystein
    Oil prices fell sharply in early trading on Monday after Greece rejected austerity measures demanded in return for bailout money and as China rolled out an unprecedented series of steps over the weekend to prevent a full-blown stock market crash. In a referendum on Sunday, Greeks overwhelmingly rejected austerity measures demanded in return for bailout money, putting in doubt its continued place in the single currency and pulling down the euro EUR= in early trading on Monday. In China, stock markets face a make-or-break week after officials rolled out a series of measures to prevent a full-blown stock market crash...
  • Futures sharply lower; live CNBC coverage tonight at 8pm ET

    07/05/2015 4:21:18 PM PDT · by John W · 90 replies
    cnbc.com ^ | July 5, 2015 | Everett Rosenfeld & Ben Berkowitz
    U.S. futures are sharply lower after the Greek vote, and CNBC will have live coverage of the aftermath tonight at 8 p.m. ET. The Greek people voted resoundingly on Sunday to reject proposals from their European creditors. S&P 500 futures fell 1.5 percent in early trading after 6 p.m. ET (2200 GMT).
  • Quartet of crises threatens Europe's core

    07/05/2015 2:57:24 PM PDT · by 867V309 · 8 replies
    news.yahoo.com ^ | 4-5-2015 | Paul Taylor
    The EU's unity, solidarity and international standing are at risk from Greece's debt, Russia's role in Ukraine, Britain's attempt to change its relationship with the bloc, and Mediterranean migration.
  • If you like the Greek debt crisis, you'll love the Puerto Rico meltdown

    06/29/2015 6:43:57 AM PDT · by SeekAndFind · 32 replies
    American Thinker ^ | 06/29/2015 | Rick Moran
    The governor of Puerto Rico told the New York Times that the island cannot pay back it's $72 billion debt and will seek permission from its creditorsto defer payments. The news precedes an address by GovernorAlejandro Garcia to the Puerto Rican legislature, where he will unveil a budget that cuts about $670 million from a $9.8 billion budget, while setting aside another $1.5 billion to pay the debt. Fox News: Gov. Alejandro Garcia Padilla's spokesman, Jesus Manuel Ortiz, confirmed that the island's government is seeking to defer payments while negotiating with creditors. He confirmed comments by Garcia that appeared...
  • Global markets slide on Greek crisis fears

    06/29/2015 4:26:42 AM PDT · by expat_panama · 24 replies
    CNBC ^ | Jun 29, 2015 | Kalyeena Makortoff
    The deepening Greek crisis hit global markets on Monday, as the country imposed capital controls ahead of a national referendum on creditors' bailout conditions. Uncertainty surrounding the country's economic future dragging equity markets lower. European markets were trading sharply lower, with the pan-European Stoxx 600 (^STOXX) falling around 2.4 percent in morning trade. Both Germany's DAX (^GDAXI) and France's CAC (Euronext Paris: .FCHI) fell nearly 3.5 percent. U.S. futures also indicated a lower open, with the Nasdaq (^NDX), S&P (^GSPC) and Dow Jones Industrial Average (Dow Jones Global Indexes: .DJI) all seen opening down over 1 percent. Greece's main stock...
  • Greek crisis: deal unravels both sides reject reform measures

    06/24/2015 6:12:00 AM PDT · by Enlightened1 · 8 replies
    The Telegraph ^ | 06/24/15
    Grexident looming? Tsipras hits back at creditors who reject plan ahead of third Eurogroup meeting in less than a week
  • Greece enters uncharted territory after referendum 'no' vote

    07/05/2015 3:21:49 PM PDT · by familyop · 52 replies
    Associated Press ^ | July 5, 2015 | ELENA BECATOROS and DEMETRIS NELLAS
    ATHENS, Greece (AP) -- Greece lurched into uncharted territory and an uncertain future in Europe's common currency Sunday after voters overwhelmingly rejected demands by international creditors for more austerity measures in exchange for a bailout of its bankrupt economy. Results showed 61 percent voted "no," compared with 38 percent for "yes," with 93 percent of the vote counted. The referendum - Greece's first in more than four decades - came amid severe restrictions on financial transactions in the country, imposed last week to stem a bank run that accelerated after the vote was called.
  • Greek referendum results live: 'No' vote to Europe's bail-out terms as Greeks choose to deal

    07/05/2015 12:53:32 PM PDT · by Lurch Addams · 93 replies
    Telegraph ^ | 7/5/2015 | Mehreen Khan
    Greek referendum results live: No vote to eurozone bail-out deal leads by 60 per cent. After 20pc of the vote is counted, Greeks look to have voted 'No' with a 60pc majority against Europe's bail-out conditions
  • Greeks cannot tap cash in safe deposit boxes under capital controls

    07/05/2015 12:55:50 PM PDT · by catnipman · 83 replies
    rooters ^ | 7/5/15 | staff
    Greeks cannot withdraw cash left in safe deposit boxes at Greek banks as long as capital restrictions remain in place, a deputy finance minister told Greek television on Sunday. ...
  • The Economist Calls Victory For "No" Camp: Sees 60% Voting "Oxi"

    07/05/2015 10:33:29 AM PDT · by Enlightened1 · 18 replies
    Zero Hedge ^ | 07/05/15 | Tyler Durden
    Can't wait 4 more hours until the first official results from the Greek referendum trickle in? The "Intelligence Unit" of the Economist Group, part-owned by the Rothschild banking family, has already called it and the "Oxis" have it by a wide margin.
  • Greek Referendum Polls Close: "No" Seen Ahead By Most With Over 51% Of The Vote

    07/05/2015 9:16:11 AM PDT · by Perdogg · 111 replies
    Zero hedge ^ | 07.05.15
    At 7pm local time the Referendum polls closed. Here is what the early exit polls predict: A poll by GPO on Mega TV gave 51.5% in favor of no and 48.5% in for yes Metron Analysis on Antenna TV showed no leading with 49% vs 46% for yes MRB on Star TV showed no leading with 49%-54% vs 46%-51% for yes Marc opinion poll for Alpha TV shows no ahead with 49.5%-54.5% vs 45.5%-50.5%
  • Syrizas historic win puts Greece on collision course with Europe

    07/05/2015 12:03:53 PM PDT · by 867V309 · 23 replies
    theguardian.com ^ | 26 January 2015 | How Greece made history in a day - video Ian Traynor
    Theres a sense that these populist movements are led by people who didnt go to university with [the leaders] and that if you ignore them they will go away. Theyve been ignored and patronised, said a senior EU policymaker in Brussels. The underlying causes are economic. We want a Europe that is delivering tangible benefits to citizens. Thats not what it feels like at the moment.
  • Early Returns Show Greeks Reject Terms of E.U. Bailout

    07/05/2015 12:11:53 PM PDT · by SunkenCiv · 58 replies
    New York Times ^ | Sunday, July 5, 2015 | Suzanne Daley
    "I voted with my heart and also my mind," said Marie Triadafillou, who works in transportation logistics and voted yes. "I believe when you are in a union you cannot leave. We say in our country if the sheep leaves the flock it cannot live." ...Martin Schulz, the head of the European Parliament, who had offered at one point to come to Greece to campaign for a yes vote, said on Sunday that Greece would need to prepare to operate without the euro and with a parallel currency if there was a no vote on Sunday. While Greece would remain...
  • Greeks cant use iTunes, the App Store, PayPal and more thanks to the financial crisis

    07/05/2015 8:52:26 AM PDT · by Enlightened1 · 17 replies
    The Next Web ^ | 07/04/15 | Mic Wright
    Greece has a lot of problems right now as a result of the debt crisis, but one that you might not have immediately anticipated is that online services that require credit or debit payments to a foreign company are broken. As BuzzFeed reports, the Greek governments imposition of capital controls which restrict citizens ability to take money out of the country following its failure to make debt repayment, also mean they cant buy a 0.99 song from iTunes or grab new apps. Of course, its not the biggest issue faced by the country, but it is another source...
  • Panic Sets in Among Hardy Hedge Fund Investors Remaining in Greece

    07/05/2015 7:30:40 AM PDT · by Lorianne · 21 replies
    New York Times ^ | 28 June 2015 | Landon Thomas Jr.
    For investors around the world looking at Greece, there was but one question Sunday: What is going to happen when the markets open? On Sunday night, the prime minister, Alexis Tsipras, said in a televised address that Greeces banks and stock market would be closed on Monday, as Athens tries to avert a financial collapse. But the question of what happens when the markets do open is particularly acute for the hedge fund investors including luminaries like David Einhorn and John Paulson who have collectively poured more than 10 billion euros, or $11 billion, into Greek government bonds,...
  • Fears major bank is 'hours from collapse' as millions vote on Greeces financial future

    07/05/2015 5:44:45 AM PDT · by RKBA Democrat · 61 replies
    Daily Mail UK ^ | 7-5-15 | Lydia Willgress
    (Title edited due to lemgth) Fears the central bank of Greece will collapse following today's referendum are rising as voters flocked to the polls to decide on their country's future. [snip] Officials are set to ask the European Central Bank (ECB) for emergency cash in a bid to stave off financial ruin following tonight's result, it has been reported. [snip] It comes as some sources also suggested ATMs will not open this evening in a bid to save money after EU leaders threatened to withdraw the euro in the event of a 'No' vote.
  • Prince Talal of Saudi Arabia: my visit to Israel shall mark the new age of peace and fraternity

    07/05/2015 7:35:43 AM PDT · by SunkenCiv · 40 replies
    AWD News ^ | July 2, 2015 | unattributed
    The Saudi multi-millionaire media tycoon, prince Talal Bin Waleed, has urged all Arab nations to give up their acrimonious stance toward the Jewish nation and instead continue to strive for a more peaceful, prosperous and homogenous Middle-East. The controversial Saudi prince Talal has openly declared his intention to embark a seven-day pilgrimage to Holy Land and pray in Al-Aqsa Mosque -- the third holiest site in Islam located in the Old City of Jerusalem -- reported Okaz, the Arabic Saudi Arabian daily on Thursday. "All my Muslim brothers and sisters must understand that it became a moral imperative for all...
  • PETER HITCHENS: The best way to tackle terror? Keep calm and carry on quietly

    07/05/2015 6:58:40 AM PDT · by Nextrush · 18 replies
    Daily Mail.com ^ | 7/4/2015 | Peter Hitchens
    Politicians react to terrorism much as parents might respond when their lisping tiny offspring come home from sex-ed classes and ask them to explain what lesbians do. They panic. They have no idea what to say and they are terrified of committing themselves, righly suspecting that their answers will be stored up and embarrassingly remembered... But they have to pretend to know..... I have watched this for years... But last week they outdid themselves, churning out gallons of swirling hogwash. The most ridiculous of all was (as usual) the comically unqualified Education Secretary Nicky Morgan......... . How could teachers spot...
  • What was the question again? Greek voters confused by baffling 74-word referendum conundrum

    07/05/2015 4:03:51 AM PDT · by Libloather · 16 replies
    Daily Mail ^ | 7/04/15 | Keiligh Baker
    What was the question again? Greek voters confused by baffling 74-word referendum conundrum that demands a simple 'yes' or 'no' to decide country's future Greek voters who are facing a momentous vote tomorrow which may determine the country's future in Europe are confused by the baffling wording on the ballot paper. Nearly 10 million Greek voters will take to the ballot booths on Sunday to vote 'Yes' or 'No' in a referendum asking if they accept more austerity measures in return for bailout funds. But many are baffled by the strange wording of the 74-word question, which asks: 'Should the...
  • The past five days have been worse than all that has gone before (Greece)

    07/04/2015 8:53:39 PM PDT · by dynachrome · 19 replies
    Financial Times ^ | 7-1-15 | Iliana Magra
    Sir, Memory. No memory of life before the financial crisis; politics has dominated it ever since. But now I can hardly remember life before Friday night. Fear. I am terrified of tomorrow, all I now see is black. Uncertainty, leading us through our days, every remainder of hope for a brighter future being destroyed by the minute. I look at my three-year-old niece, I envy her ignorance, I envy her age. I am 21 years old and the past few days I feel tired by life. A referendum that supposedly gives me the right to define my future, seems to...
  • Farage on Friday: The EU does NOT care about what is best for Greece

    07/04/2015 7:47:22 PM PDT · by dynachrome · 14 replies
    Sunday Express ^ | 7-3-15 | NIGEL FARAGE, MEP
    As my colleague Patrick OFlynn recently pointed out in the Daily Express, the bullying of Greece by the EU has stepped up a notch. Threats, scaremongering and fear is being put about to keep that country locked within the Euro straightjacket. All those running the EU care about is their project. They care not for the best wishes of the Greek people, but simply for sustaining the economic madhouse they themselves have created. Locked inside the Euro, the Greek people have been long-suffering. Quite simply, the European Union is quite happy to see Greece crucified as long as the shattered...
  • Greek villagers' secret weapon: Grow your own food

    07/04/2015 5:13:57 PM PDT · by Red in Blue PA · 39 replies
    KARITAINA, Greece (AP) Ilias Mathes has protection against bank closures, capital controls and the slashing of his pension: 10 goats, some hens and a vegetable patch. Related Stories 1. Pensioners queue outside banks on 1st day of capital control Associated Press 2. Greeks struggle with daily grind as foreigners head to beach Associated Press 3. Greece rattles Europe; Markets close sharply down CNBC 4. The Latest: Moody's downgrades Greece to Caa3 Associated Press 5. Greece says it will consider bank closures and capital controls on Monday Reuters If Greece's financial crisis deepens, as many believe it must, he can...
  • Sugar, flour, rice: panicked Greeks stock up on essentials

    07/04/2015 2:14:45 PM PDT · by Kartographer · 58 replies
    AFP via Yahoo News ^ | 7/4/15 | Pauline Froissart
    Greeks were hoarding cash and food Saturday amid mounting fears the economy could collapse, cracking open their wallets only to stock up on essentials and stripping supermarket shelves in the process. Related Stories Split Greece teeters on the brink with referendum AFP Stakes rise in Greece's bailout referendum AFP Greeks rush to withdraw cash as MPs debate bailout referendum AFP Greece debates referendum amid fears of run on banks AFP Greek banks say have sufficient liquidity until Tuesday AFP Mothers, elderly men and university students were spotted pushing heavily overloaded trolleys or coming out of shops weighed down by bags...
  • The Greeks should vote no!

    07/04/2015 10:27:15 AM PDT · by Tolerance Sucks Rocks · 60 replies
    The Washington Times ^ | July 2, 2015 | Peter Morici
    Sunday, Greeks should vote “no”!Hellenic voters are being asked whether they accept the terms offered by the European Union, European Central Bank and International Monetary Fund to extend the bailout for Athens‘ troubled finances or give Prime Minister Tsipras a mandate to insist on a better deal.Those conditions include more cuts in government supported pensions, higher taxes and labor market reforms other European governments’ are often not inclined to accept in the conduct of their own affairs.Urging a Yes vote, European leaders and their supporters in private institutions claim more austerity would reinvigorate the Greek economy and permit Greeks to...