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(Reuters) - A collapse of the euro and break-up of the European Union would have catastrophic consequences for the global financial system, billionaire investor George Soros was quoted as saying. "Today, the euro is potentially endangering the political cohesion of the European Union," .. "If the common currency were to break down, it will lead to the break up of the European Union itself. And this will be catastrophic not only for Europe but also for the global financial system." The euro zone crisis is "more serious and more threatening than the crash of 2008," the Economic Times reported, quoting...

The 17 eurozone states and six other EU countries agreed early Friday to create a new treaty that will allow them to introduce stricter fiscal rules in the hope of containing a worsening debt crisis, but Britain's prime minister immediately threatened to block the new accord. The failure to get agreement among all 27 members of the European Union at a summit meeting in Brussels reflected in large part a deep split between France and Germany on the one hand and Britain on the other. France and Germany are the two largest economies in the eurozone; Britain does not use...

PREPARATIONS were under way last night for the break-up of the euro as Europe’s debt crisis spiralled out of control. As Treasury officials worked through the night to soften the impact on Britain, David Cameron warned that the single European currency was facing its “moment of truth”.

On a couple of rare occasions liberals (on Twitter mostly) have attacked me for being sexist to implying that all liberals are women, not just the ones with the vaginas... Well..... President Obama took his licks from progressives who are meeting in Minneapolis at the Netroots Nation Convention, the annual gathering of liberal bloggers and other social media activists.The panel that drew one of the biggest crowds at Netroots Nation so far was called "What To Do When The President's Just Not That Into You.""It's like the president's not our boyfriend anymore," Joan McCarter, an editor at the Daily Kos...

The rough politics of European adjustment Nov 30th, 2010 by Michael Pettis Posted in Euro If Europe is going to “resolve” the current crisis in an orderly way, it is going to have to move very quickly – not just for the obvious financial reasons, but for much narrower political reasons. I am pretty sure that the evolution of European politics over the next few years will make an orderly solution progressively more difficult. /snip My skepticism was strengthened by the historical argument – no fiscally fragmented currency union had ever survived a real global liquidity contraction. /snip I have...

Microsoft's annual meeting of shareholders in Bellevue this morning was pretty much the standard routine -- except for one question toward the end. The company's nine-member board was reappointed and a lone shareholder proposal, to establish a board environmental committee, was rejected. CEO Steve Ballmer touted the company's revenue and earnings growth. Shareholders complained about the stagnant share price and pressed for a higher dividend. Ballmer talked about Microsoft's product pipeline and finance chief Peter Klein noted that the company has returned more than $170 billion to shareholders in the form of dividends and stock buybacks over the past decade....

Link only, per requirements of King Bloomberg I of New York City's news service.

Fears of a euro break-up have reached the point where the European Central Bank feels compelled to issue a legal analysis of what would happen if a country tried to leave monetary union.

“…For the world's more full of weeping than you can understand. …”~W.B. Yeats First, my title is in no way intended to be a slight to C.S. Lewis, but rather a tribute and expression of gratitude for his many works that have profoundly influenced my intellectual and spiritual life these past years. Mimicry, it is said, is the sincerest form of flattery, and while I get the impression that Mr. Lewis was not particularly prone to vanity, I like to think he might be smiling down with the knowledge that my humble efforts here have grown out of thoughts and...

Pop group A-ha have announced they are to call it a day, just months after achieving a top 10 album in the UK. "We've literally lived the ultimate boy's adventure tale," the group, which formed 25 years ago, said. The trio added that the split would allow them to pursue "other meaningful aspects of life, be it humanitarian work, politics, or whatever else". The Norwegian band scored international hits with The Sun Always Shines On TV and Take On Me in the 1980s. Their most recent album, Foot Of The Mountain, marked a return to their synth-pop roots after a...

The biblical story of Adam and Eve suggests that Eve’s disobedience to God introduced sin to the world which ultimately led to the downfall of man and mankind. It is a story repeated over and over again in the Christian arena. It’s the first story a child learns which attempts to explain why there is so much suffering in life. It is a story which puts the burden of death, destruction, disobedience, and suffering at the feet of Eve, Adam’s wife, or as the Biblical writers describes her – Adam’s Helpmeet. While the story of Adam and Eve is true,...

AIG considers break-up in bid to stay afloat By Francesco Guerrera in New York and Sundeep Tucker in Hong Kong Published: February 25 2009 23:42 | Last updated: February 25 2009 23:42 AIG and the US authorities are in advanced discussions over a radical restructuring that would split the stricken insurer into at least three government-controlled divisions in an attempt to keep it afloat, according to people close to the situation. The restructuring, described by one insider as a “controlled break-up”, could lead to the end of AIG’s 90-year history as a stand-alone global insurance conglomerate. It also could provide...

In 1990, few were predicting the breakup of the Soviet Union. But it came – only a year later. With 2009 set to begin in a few days, there is someone predicting the breakup of the United States – a year from now. His name is Igor Panarin, a former KGB analyst and dean of the Russian Foreign Ministry's school for foreign diplomats – in other words, a serious fellow. For him, it's nothing new. He's been making the same prediction for last 10 years. But, until recently, no one took him seriously. And then came the economic calamity that...

A leading Russian political analyst has said the economic turmoil in the United States has confirmed his long-held view that the country is heading for collapse, and will divide into separate parts. Professor Igor Panarin said in an interview with the respected daily IZVESTIA published on Monday: "The dollar is not secured by anything. The country's foreign debt has grown like an avalanche, even though in the early 1980s there was no debt. By 1998, when I first made my prediction, it had exceeded $2 trillion. Now it is more than 11 trillion. This is a pyramid that can only...

"By 1998, when I first made my prediction, it had exceeded $2 trillion. Now it is more than 11 trillion. This is a pyramid that can only collapse." ... "It is already collapsing. Due to the financial crisis, three of the largest and oldest five banks on Wall Street have already ceased to exist, and two are barely surviving." ... "Two countries could assume this role: China, with its vast reserves, and Russia, which could play the role of a regulator in Eurasia." ... "Millions of citizens there have lost their savings. ... whole cities will be left without work...

LEAN-MAN BROTHERS By MARK DeCAMBRE September 11, 2008 -- Lehman Brothers is likely to look more like a beefed-up version of advisory firm Lazard and less like a bulge-bracket Wall Street firm after the dust settles on its planned "bad-bank" spin-off. Should the 158-year-old firm retain its independence and not be bought outright, as many are speculating might happen, observers expect the global franchise to exist as a much smaller company. Predictions are that Lehman, which currently has roughly 24,000 employees, might need to shrink by 7,000 or 8,000 in order to confront a tumultuous market and prepare for the...

Senator Barack Obama sought on Wednesday to set aside the controversy over his former pastor, the Rev. Jeremiah Wright Jr., and steer the conversation in the Democratic presidential campaign back to the economy. One day after forcefully breaking with Mr. Wright, Mr. Obama returned to Indiana for a series of events intended to highlight his proposals for tax cuts for the middle class. With six days to go before crucial primaries in Indiana and North Carolina, Mr. Obama is trying to retake control of his message, which had been overshadowed by incendiary remarks made by Mr. Wright and by Mr....

March 5, 2008 Market Place Assurances From Citigroup, but Skepticism on Wall Street By ERIC DASH Sanford I. Weill built Citigroup into one of the world’s largest banking companies. Now, Vikram S. Pandit is watching Mr. Weill’s creation wither in the stock market. Reflecting a punishing yearlong decline, Citigroup’s stock price plummeted on Tuesday to its lowest level since 1998, when Mr. Weill formed the financial conglomerate through the merger of Travelers and Citicorp. The shares sank 99 cents, or 4.3 percent, to $22.10, as concern spread that new multibillion-dollar losses might force Citigroup to go hat in hand to...