EUROPE | WHAT REALLY HAPPENED


EUROPE

Mar 08 09:09

UK promises flexibility after Iceland shouts 'no'

Britain is "prepared to be flexible" to reach a deal with Iceland over the £2.3bn debt owed since the collapse of the online savings bank Icesave, the Chancellor, Alistair Darling, said yesterday.

Webmaster's Commentary: 

Britain is trying to make nice here because they realize that if the people of Iceland flat-out refuse to cover the bank losses there is little that Britain can do. Under the legal principle of Odious Debt, the people of Iceland are only obligated for debts incurred by the government for the betterment of the people of Iceland, such as schools, hospitals, and civil infrastructure. Clearly, saving a private corporation from their own reckless folly does not fall into that category!

Yes, Britain could invade and easily take control of Iceland, but the political costs of such an invasion would be high. Gone forever would be the myth that modern wars are fought for high ideals like freedom and democracy. An invasion of Iceland would show to all the world that Britain had returned to the days of enslavement by military force.

Mar 08 08:59

'We will not offer Greece a cent': German economy minister deals hammer blow to Athens as rioters attack police on the streets

It could almost be a battle from Greece's ancient past - a melee of fighting at close quarters with shields, raised weapons and flags.

But this was the scene in Athens yesterday as riot police clashed with protesters outraged by cutbacks designed to slash the country's huge budget deficit.

The violence came as Germany ruled out offering Greece 'a cent' of financial aid, insisting it should sort out it own problems.

Webmaster's Commentary: 

The European Union turned out to be nothing more then a larger scale looting of the people. And now that the Greeks and Icelanders have decided they no longer want to be looted, this could tear the EU apart.

Mar 08 05:34

First Iceland, then the World

Who cleans up the mess when ignorant, greedy bankers rack up massive debt then go broke? The people of Iceland made a strong statement Saturday. The sins of big bankers and government regulators shouldn't fall on the citizens. By a 93% to 2% margin, they voted down a proposal requiring them to cover bad debt incurred by one of the nation's oldest and largest banks. Covering the debt would have cost Iceland's 317,000 citizens around $17,000 each.

Iceland's national referendum was the first opportunity for the people of any nation to vote directly on who pays when the financial elite fail.

Mar 07 11:48

Condition Red: More Hidden Greek Debt Exposure Discovered

Gordon Long, founder of a private venture-capital fund, said in an investor note that there is more than $600 trillion in notational value in the global derivative market, with $437 trillion of it tied to interest rate swaps.

Mar 07 11:36

Angry Iceland Voters Reject Plan To Repay Britain, Netherlands

Still furious over the crippling aftermath of the global financial crisis, Iceland's voters on Saturday resoundingly rejected a $5.3 billion plan to pay off Britain and the Netherlands for debts spawned by the collapse of an Icelandic Internet bank, according to initial results.

Results returned from around 83,500 ballots — or more than 40 percent of the total ballots expected — counted so far showed that 93 percent of voters said "no" in the referendum, compared to just 1.5 percent who said "yes."

Webmaster's Commentary: 

The Icelandic people understand something that our Congress does not. Banks are private businesses, and private businesses that make reckless and foolish mistakes deserve to go out of business and government has no moral right at all to loot the general population to save rich bankers from their own greed and folly.

Mar 06 11:56

EU Chief Vows To Run UK Economy From Brussels

EUROPE’S chief bureaucrat last night provoked fury after threatening to use the “full force” of the Lisbon Treaty to impose economic control over every EU nation.

European Commission President Jose Manuel Barroso claimed that financial stability was so critical that sweeping new powers were needed for Eurocrats in Brussels to meddle in the economies of all EU members.

Mar 06 07:50

'Israel Violates International Law With EU Complicity'

Things are worsening for Israel from moral and legal perspectives. In fact, one year after the Goldstone Report on its ‘war crimes’ during its war on Gaza and amidst growing suspicions of its direct responsibility in the assassination of a Palestinian leader in Dubai, an international court has now concluded that Israel is violating international law with Europe’s complicity.

Mar 05 19:28

EU considers general carbon tax

The European Commission is planning an EU-wide minimum tax on carbon as part of the EU's green energy agenda - but the UK opposes such a move.

The minimum tax would apply to fuel, natural gas and coal.

n/a
Mar 05 03:24

When is it OK to call people Nazis? When they're Euro-sceptics

Nation-states have, over the years, been a pretty sturdy defence against totalitarian ideologies, whether fascism, Soviet Communism or jihadi fundamentalism. Rooted as it is in organic loyalties, the nation is a naturally democratic unit. This is not to say that all nation-states are liberal democracies; simply that ideologies which claim to be bigger than national allegiances can be dangerous. They can even lead, as Mr Verhofstadt really ought to know, to mass murder.

Mar 04 09:05

Mordechai Vanunu’s Nobel Stand

“He [Vanunu] has written letters to us this year and last year also, where he stated explicitly that he did not want to be a candidate for the Nobel Peace Prize. The reason he gave was that Simon Peres had received the Nobel Peace Prize, and Peres he alleged was the father of the Israeli atomic bomb and he did not want to be associated with Peres in any way.” – Geir Lundestad, Director of the Norwegian Nobel Institute and Secretary of the Norwegian Nobel Committee, 24 February 2010.

For the first time in the history of the Norwegian Nobel Committee, a preemptive request to withdraw a nomination—by the nominee—was made.

Mar 04 07:54

Gordon Brown Seeks To Change Law In Order To Further Support Israeli War Crimes

British Prime Minister Gordon Brown is defending his decision to change the law allowing private people to demand arrest warrants against foreign leaders and officers visiting Britain.

The government’s decision to change the law was made following an arrest warrant issued against Israeli Opposition Chairwoman Tzipi Livni, who was scheduled to visit London last year.

Mar 04 06:44

Greece should sell islands

'The Greek state must sell stakes in companies and also assets such as, for example, unpopulated islands,' Frank Schaeffler, a member of parliament for the pro-business Free Democrats, Merkel's coalition partner, told the Bild daily.

Webmaster's Commentary: 

"After all, those ultra-rich Wall Street CEOs need someplace to retire to with all their bailout trillions!"

Mar 03 07:37

Bailout 'would spark revolution'

A revolution will erupt if billions of euro more in taxpayers' money is handed over to Anglo Irish Bank, Enda Kenny has warned.

The Fine Gael leader said people can no longer tolerate massive public funding of the nationalised bank as it stands.

Webmaster's Commentary: 

A global revolution against the global banks. Now there is an idea!

Mar 02 08:34

Irish town criticised for snubbing Israeli ambassador

Irish Foreign Minister Micheal Martin has criticised an Irish town council's decision to remove a page signed by the Israeli ambassador from its guestbook.

Webmaster's Commentary: 

I guess the Irish Foreign Minister works for a foreign government!

Mar 02 08:14

The Fall of Greece

For Europe’s poorest countries, European Union membership has long held out the promise of tranquil prosperity. The current Greek financial crisis ought to dispel some of their illusions.

There are two strikingly significant levels to the current crisis. While primarily economic, the European Economic Community also claims to be a community, based on solidarity -- the sisterhood of nations and brotherhood of peoples. However, the economic deficit is nothing compared to the human deficit it exposes.

Webmaster's Commentary: 

In other words, as long as the member states of the EU were cash cows, the EU welcomed the, but now that hard times have hit, the favor is not to be returned!

Mar 01 10:12

One in four Germans wants microchip under skin: poll

HANOVER, Germany — It sounds like something from a sci-fi film, but one in four Germans would be happy to have a microchip implanted in their body if they derived concrete benefits from it, a poll Monday showed.

Mar 01 07:21

A Majority of the German Population want Soldiers to Pull Out of Afghanistan: Germany's Left Party Expelled from Bundestag

Germany's Left Party was expelled from the Bundestag yesterday after its members held up signs bearing the names of Afghan civilians killed in a German-ordered airstrike last September.

The protest came in the middle of a parliamentary debate on extending Germany’s nine-year military mission to Afghanistan by a further year.

Some 429 MPs voted for and 111 against the new mandate – 16 fewer votes in favour than last time – allowing troop numbers to be increased by 850 to 5,350.

The opposition Green Party abstained and, after being re-admitted, the Left Party MPs contributed to the 111 votes against the mandate.

Feb 28 14:05

America and world economic meltdown: the mystery of the Afghanistan war

Christopher King argues that “a situation exists in which it may be in the interests of the United States to seek a ‘cold war’ situation with Russia and China as a pretext for defaulting on its external debt, attacking Iran, taking direct control of all Middle Eastern oilfields and effective control of Europe”.

Feb 28 10:17

DE FACTO RECOGNITION OF PALESTINE

Products from Israeli settlements on occupied territory do not qualify for preferential trade treatment under Israel’s trade agreement with the European Community, says European Court of Justice.

Based on the fact that Jewish settlements in the West Bank are illegal under international law, the European Court of Justice ruled on Thursday that products from Israeli settlements in the occupied West Bank are not to be regarded as Made in Israel. Therefore, they cannot qualify for falling under the trade agreement between the European Community and Israel, which normally allows Israeli products to be imported into the Euro-zone free of import duties.

Webmaster's Commentary: 

Time to ask why Israel gets to avoid the taxes everyone else has to pay.

Is this the same in every country?

Feb 28 09:37

War in the EU as Herman Van Rompuy makes 'power grab'

Open warfare has broken out at the top of the European Union with governments accusing the new president, Herman Van Rompuy, of making a power grab.

Feb 26 08:00

Trade war breaks out as Merkel admits euro 'is in a difficult situation'

A Greek consumer group has called for a boycott of German goods as a festering row between the two countries over the euro grows.

Greece's Consumer Institute demanded Germany admit 'we are no crooks' after a German magazine blasted the country as 'cheats'.

The new trade war came as Angela Merkel admitted the euro is in 'a difficult situation' for the first time.

Feb 25 19:58

Euro in danger as the Greek crisis deepens and Merkel admits currency is at risk

Greece's debt crisis has plunged the euro into a ‘ difficult situation’, the German Chancellor Angela Merkel admitted last night, prompting fresh fears about the collapse of the single currency.

In the gravest sign yet of the international threat posed by Greece’s crippled economy, Mrs Merkel warned for the first time that the eurozone faces a ‘ dangerous’ period.

Feb 25 09:26

Greek rescue in danger as deputy prime minister attacks 'Nazi' Germany

Greece has greatly damaged its chances of an EU bail-out by lashing out at Germany over war-time atrocities and accusing Italy of cooking its books to hide public debt.

Feb 24 10:04

Greek Police, Protesters Clash in Nationwide Strike

Greek police fired tear-gas and clashed with demonstrators in central Athens after a march organized by unions to oppose Prime Minister George Papandreou’s drive to cut the European Union’s biggest budget deficit.

Feb 24 08:09

Greece leads Europe's winter of discontent

A wave of industrial and social unrest is building across Europe as workers resist attempts by governments and private companies to impose austerity policies, drive down wages and rescue some nations from near-bankruptcy.

Feb 24 08:06

Spain, spooks and the phantom anti-euro conspirators

I take very seriously the argument that IMF financial assistance for Greece would plant suspicions in the minds of investors around the world about the long-term viability of European monetary union. If emergency aid were essential, it would not be difficult for Germany, France and other eurozone countries to provide the required amount, which is generally estimated to be about €20bn. To turn to the IMF would raise doubts that the very foundations of European monetary union were built on sand.

Feb 24 08:04

Spain engulfed by pension protests

Spain's debt-laden Socialist government has witnessed the first mass protests by unions in its six years in power as anger over a plan to raise the retirement age spilled onto the streets.

The UGT and the CCOO, the country's two largest unions, called for Tuesday's demonstrations against the reform in several major cities, including Madrid, Barcelona and Valencia.

Further demonstrations are planned in the rest of the country up until March 6 against the plan, announced last month, to raise the legal retirement age from 65 to 67.

Webmaster's Commentary: 

This is amazing. The Spanish raise the retirement age by two years and the Spanish people are in the streets, yet here in the US, the talk is of raising the retirement age to 75, the Federal Government has looted and spent the Baby-Boomers' Social Security money, is pushing to end Social Security entirely, and the American people sit at home and wait for the next "American Idol."

Someone needs to start testing the tap water for tranquilizers.

Feb 24 07:31

Three Google executives convicted after allowing video of autistic boy being abused to be posted online

Three Google executives were convicted of privacy violations today in allowing a video of a boy with autism being abused to be posted online.

Italian Judge Oscar Magi sentenced the three to a six-month suspended sentence in a case that has set a new precedent for internet freedom.

Google called the decision 'astonishing' and said it would appeal.

'The judge has decided I'm primarily responsible for the actions of some teenagers who uploaded a reprehensible video to Google video,' Google's global privacy counsel Peter Fleischer, who was convicted in absentia, said in a statement.

Feb 23 20:49

The IMF Destroys Iceland and Latvia

The International Monetary Fund operates primarily as a banker bailout machine. They cajole and tempt and confuse and threaten the leaders of governments worldwide to pay off the failed bets of the big bankers using the taxpayer funds of their countries. This has been going on a long time, at least since the early 1980s.

Feb 23 08:03

Fear of Mediterranean Contagion Grows

The deep economic, fiscal, and trade crises of several Mediterranean countries in the euro zone that is threatening monetary stability in Europe with the possibility of contagion spreading to developing countries, say studies.

Webmaster's Commentary: 

The problem with the reserve system of banking is that the moment that first federal Reserve note, or in this case Euro, goes into circulation, more money is owed to the bank system than is actually in existence. These legalized counterfeiting systems are all pyramid schemes, and globalization has synchronized the collapse of the pyramids all at the same time.

Feb 22 14:31

Soros: Use the PIIGS Crisis as an Opportunity to Put Additional One Government Controls over the EU

Master global puppeteer, billionaire oligarch George Soros, wants to be able to manipulate the entire EU in one fell swoop.

Feb 22 10:22

Head Of Greek Debt Office Replaced By Former Goldman Investment Banker

And so the tragicomic becomes surreal.

Feb 22 09:41

Ireland, Greece and leaving the euro

The economic travails of Ireland and Greece have provoked a debate on the wisdom of the two most vulnerable members of the infamous PIGS (Portugal, Ireland, Greece and Spain) grouping of Eurozone members, on leaving the euro.

Feb 21 09:02

Greek fuel supplies run dry as strike over harsh austerity measures bites

PETROL stations ran dry in Greece yesterday as a customs strike over government austerity measures began to bite.
Customs staff initially walked out for three days on Tuesday over salary freezes and cuts in bonuses.

But their union announced on Thursday three 48-hour rolling strikes that will keep customs offices shut until next Wednesday, when all workers are being asked to join a general strike.

Webmaster's Commentary: 

This could turn into a case study on how to handle the National Strike here in the US.

Feb 21 08:36

Credit markets flash hottest warning signal since crisis

European credit markets are flashing the most serious warnings signs in a year as the yields on risker bonds rise sharply and a string of companies cancel share flotations, raising fears that the recovery may falter in coming months.

Jitters over Chinese credit tightening and default risks in Greece and Dubai are causing bond vigilantes to batten down the hatches across the world, bringing the most dramatic credit rally for a century to a shuddering halt.

Feb 21 01:36

Dutch government falls over Afghanistan No comment from NATO chief

It is bad enough that the British, Dutch and other Europeans are suffering heavy casualties in following the aggressive adventures of the failed state that is the United States. The matter is much more serious and closer to home. I have said it before and will say it again: Europe and the UK must rid itself of American bases and those who support them, and form its own defence force independent of the United States. That is where economic and defence security lie.

Feb 20 15:07

Dutch government falls over Afghanistan: no comment from NATO chief

Christopher King expresses the hope that the fall of the Dutch government over participation in the US-led aggression in Afghanistan could be the start of a trend that will see Europe regain its independence from the USA.

Feb 20 08:21

Dutch troops to pull out of Afghanistan by the end of year after coalition falls

Dutch troops will almost certainly be withdrawn from Afghanistan this year following the collapse of the coalition government in The Hague.

The government fell because of a dispute between its main partners over how long its soldiers should stay in the war.

Feb 19 08:37

How your US taxes could be bailing out Greece

It sounds far-fetched but, as Dr. Ron Paul highlights in his weekly column, Americans have no insight into the operations of the Federal Reserve. Therefore, the Fed can covertly funnel US funds to wherever it decides. This could include, for example, Greece, as it inches ever closer to default.

Feb 17 19:42

FLASHBACK: GOLDMAN HIDING GREEK DEBT .... IN 2003

from Risk Magazine

In November 2001, the Greek finance ministry’s public debt division made a public statement about its debt management strategy. It acknowledged that its debt was a ‘critical macroeconomic parameter’, and pledged to reduce debt servicing costs by means that included ‘the extensive use of derivatives’. Apparently, this was not enough for Brussels. In February 2002, the European Commission pointed out future deficit forecasts by Greece relied ‘primarily’ on achieving reductions in interest costs. It called for Greece to reduce its ‘very high’ debt ratio, and to provide ‘more detailed information on financial operations’.

Although Greece’s public debt division points out that it uses 18 derivatives counterparties, there is no doubt that the division, which is headed by Christopher Sardelis, has a particularly close relationship with Goldman Sachs. Indeed, the account has been handled personally at Goldman Sachs by Antigone Loudiadis, the London-based European head of sales for the firm’s fixed-income, currencies and commodities unit. Highly respected by other dealers, Loudiadis has enjoyed a successful career at Goldman, joining the firm’s partnership committee and attaining her present position in 2000. According to sources, by early 2002, Loudiadis and her team put together a deal aimed at alleviating Greece’s problem of debt ratios and high interest costs.

Feb 17 15:53

The long arm of Israel must be amputated

Gilad Atzmon argues that, given the close relationship between the Israeli Prime Minister’s Office and the Mossad intelligence agency, Premier Binyamin Netanyahu must be held to account personally for the murder of a Hamas official in Dubai by Israeli Mossad agents travelling on cloned European passports.

Feb 17 15:27

Italy's Government Seeks Control Over Online Videos

Italy's government is drafting a decree that would give it control over online video content.

In a country where Internet usage is still relatively small, the measure is seen as an attempt by Prime Minister Silvio Berlusconi to protect his TV empire from future competition from the freewheeling world of Google and YouTube.

Webmaster's Commentary: 

The Silicon Curtain descends over Italy!

Feb 17 13:13

Greek Ex-Minister: Other Euro Countries Did Swaps Too

Greece's 2001 deal to swap some of its debt using currency derivatives was in line with what other euro-zone countries were doing, Yiannos Papantoniou, the country's finance and economy minister when the deal was made, told CNBC.com Wednesday.

The transaction, intermediated by Goldman Sachs, involved exchanging about 2.8 billion euros ($3.8 billion) worth of bonds denominated in yen and US dollars — that would have generated substantial outflows in 2002 — into euros, maturing in 2019, Papantoniou explained.

"We took a loan that was to be repaid in 2019," he said in a telephone interview. "It was public. I know that what we've done then was consistent with what was done by many euro zone countries."

Webmaster's Commentary: 

So, Goldman Sachs was helping ALL the U conceal the true scale of their debts from their own people?

This IS going to turn into a global revolution.

Feb 17 09:45

Greece loses EU voting power in blow to sovereignty

The European Union has shown its righteous wrath by stripping Greece of its vote at a crucial meeting next month, the worst humiliation ever suffered by an EU member state.

Webmaster's Commentary: 

Do these idiots WANT riots?

Feb 17 08:16

Spanish Intelligence Probing Debt “Attacks”

Citing unnamed sources, El Pais said the National Intelligence Centre (CNI) was looking into “speculative attacks” on Spain following the Greek debt crisis.

Feb 17 08:07

The Hoi Polloi vs. Goldman Sachs

Greece is turning into a battle royal between the global financial elites and the average worker in the industrial West. This started out as a more limited struggle, pitting the finance ministers and central banks of the European Union against the Greek unions, but the fight has unexpectedly broadened with news of the surreptitious involvement of Goldman Sachs in helping Greece avoid borrowing constraints.

Another way to look at this is to ask yourself who knows how much has really been borrowed by various governments around the world?

Webmaster's Commentary: 

Goldman Sachs evades the rules, bets against their own clients, plunges corporations, states, and nations into debt, then blames the workers for not knowing their place when they complain about the poverty.

It's like when Bernie Madoff got arrested for swindling his clients for $65 billion and his wife blamed the Goyim for all their troubles.

Feb 16 09:11

Goldman Sachs Shorted Greek Debt After It Arranged Those Shady Swaps

Goldman Sachs arranged swaps that effectively allowed Greece to borrow 1 billion Euros without adding to its official public debt. While it arranged the swaps, Goldman also sought to buy insurance on Greek debt and engage in other trades to protect itself against the risk of a default on those swaps.

Feb 16 08:00

Goldman Sachs in new storm over secret deal to mask Greek debts

oldman Sachs struck a secret deal with Greece to help it mask its vast debts, it emerged yesterday.

The Wall Street giant is claimed to have reaped as much as £192million in fees by entering a complex currency transaction in 2001 that helped Athens borrow cash without putting it on the books as a loan.

The so-called 'swap' deal, while permitted under EU rules, helped Greece meet eurozone limits on government borrowing.

Webmaster's Commentary: 

That seems to be what Goldman Sachs is best at; getting around the rules.

Feb 15 08:43

Wall St. Helped to Mask Debt Fueling Europe’s Crisis

Wall Street tactics akin to the ones that fostered subprime mortgages in America have worsened the financial crisis shaking Greece and undermining the euro by enabling European governments to hide their mounting debts.

Feb 14 13:47

Greece turns on EU critics


Mr Papandreou blamed the European Commission for failing to crack down on the previous conservative government’s “criminal record” in falsifying statistics. “This has undermined the responsibility of the European institutions with international markets,” he said.


As USSR had to falsify the reality to be more like they wanted it to be.

Feb 13 08:05

Why the Eurosceptics were right all along

Thus, as the Eurosceptics warned, a single currency leads to loss of sovereignty, which sounds like an abstract idea until you get a crisis like this. It applies even to the more economically successful countries. If the eurozone is to survive, Germany may have to keep rates lower than it might wish, risking inflation. Eventually, like Greece, it will have to accept greater EU control over public spending levels. Neither country can run a wholly independent fiscal policy within the eurozone, any more than Cardiff or London can within the sterling zone.

You could argue that, with proper democratic controls, a single European treasury would be good for everybody. But the pro-Europeans never made that argument, preferring to insist that the loss of sovereignty was an illusion.

Webmaster's Commentary: 

The same arguments being used to sell the idea of a global government, I might point out!

Feb 12 17:16

Collapse of the euro is 'inevitable': Bailing out the Greek economy futile, says FRENCH banking chief

The European single currency is facing an 'inevitable break-up' a leading French bank claimed yesterday.

Strategists at Paris-based Société Générale said that any bailout of the stricken Greek economy would only provide 'sticking plasters' to cover the deep- seated flaws in the eurozone bloc.

Feb 12 13:47

Euro zone GDP recovery falters, bumpy road ahead

The euro zone's economic recovery lost steam in the final quarter of last year as gross domestic product barely expanded, with France the only one of the currency area's four biggest economies to post growth.

Feb 12 13:20

Angela Merkel dashes Greek hopes of rescue bid

Angela Merkel, the German chancellor, mounted stiff resistance tonight to any swift bailout of Greece, as a rift opened up between European capitals over how best to tackle the risks posed to the euro.

Webmaster's Commentary: 

WATCH THIS CLOSELY, BECAUSE THE RESERVE BANKING SYSTEM BASED ON THE EURO IS JUST A SMALL SCALE EXAMPLE OF WHAT THE UN WANTS TO IMPOSE AS A GLOBAL CURRENCY.

Feb 12 11:36

Euro continues to fall as EU fails to agree Greece rescue plan

Feb 12 11:05

Euro Area Headed for Breakup, SocGen’s Edwards Says

Southern European countries are trapped in an overvalued currency and suffocated by low competitiveness, a situation that will lead to the breakup of the euro bloc, according to Societe Generale SA’s top-ranked strategist Albert Edwards.

Webmaster's Commentary: 

You know, maybe this huge government thing isn't such a great idea after all.

Feb 12 07:36

European Union denies US snoops access to electronic banking data

A U.S. push to legally access data generated by Europe's electronic banking activity has been rebuffed by EU lawmakers in a vote of parliament, according to published reports.

Though U.S. snoops have been allowed to access data through the Society for Worldwide Interbank Financial Telecommunication (Swift) since the beginning of February on the basis of a provisional security agreement, "Liberal, Socialist and Green euro-MPs" were successful in vetoing the deal, Euronews reported.

Feb 12 05:07

Greece is NWO Test Ground, Says Greek Reader

This government will ban transactions in cash over 1500 euros, in order to make all of us have credit cards. The obvious first step is to ban all cash transactions, then merge this new ID card with the credit system, then, well.... insert this merged ID card into our bodies...

Feb 11 05:49

Franco-German bailout of Athens expected to avert euro collapse

Webmaster's Commentary: 

Globalism faw down go boom!

Feb 10 06:48

Greece hit by nationwide strike over austerity measures

Public sector workers in Greece have launched a national strike, with thousands rallying against the government's budget-cutting measures.

Feb 09 12:24

The Bankrupt PIGS of Europe

They are called the PIGS—Portugal, Ireland, Greece, Spain. What they have in common is that all are facing deficits and debts that could bring on national defaults and break up the European Union.

n/a
Feb 07 09:05

All Hell Could Beak Loose in Europe This Week; CDS Counter-Party Risks Again

Feb 06 08:34

Shares tumble and pound plummets as crisis looms for the Eurozone

Stock markets tumbled worldwide yesterday amid fears that crippling debt levels in southern Europe could destabilise the euro and derail economic recovery.

Portugal and Spain became the latest Eurozone countries to cause a panic among investors, as economists cast doubt on their ability to control their national debt.

With Greece already expected to need a bail-out of up to £16billion from the European Central Bank, there are real concerns that the Eurozone may become unviable in its present form.

Feb 05 12:17

Fears of 'Lehman-style' tsunami as crisis hits Spain and Portugal

The Greek debt crisis has spread to Spain and Portugal in a dangerous escalation as global markets test whether Europe is willing to shore up monetary union with muscle rather than mere words.

Feb 05 09:51

Greece faces barrage of strikes over austerity package

A Greek belt-tightening package ran into trouble Thursday as the country's top trade union announced a giant strike amid fears that the eurozone crisis could deepen with Spain and Portugal's rising debt.

Feb 05 08:59

Warning of Greek crisis spreading across EU

THE Greek debt crisis has spread to Spain and Portugal in a dangerous escalation as global markets test whether Europe is willing to shore up monetary union with muscle rather than mere words.

Julian Callow from Barclays Capital said the European Union might need to invoke emergency treaty powers to halt the contagion by issuing an EU guarantee for Greek debt. "If not contained, this could result in a 'Lehman-style' tsunami spreading across much of the EU," he said.

Credit default swaps measuring bankruptcy risk on Portuguese debt surged 28 basis points on Thursday to a record 222 on reports that Jose Socrates was about to resign as prime minister after failing to secure enough votes in parliament to carry out austerity measures.

Feb 04 08:26

Pro-Israel Lobbies Work on Europe

Defenders of Israel’s aggressive stance have for many years been recognised as a powerful force shaping United States foreign policy. A less well-known fact is that the pro-Israel lobby has been making a concerted effort to strengthen its presence in Europe.

Webmaster's Commentary: 

Europe needs to learn from the US' mistake before it is too late!

Jan 29 16:08

Is the EU planning an 'Athens bail-out'? Officials 'consider last resort' amid fears weak Greece could drag down euro zone

The EU may be planning an emergency rescue plan for Greece after a leading German politician warned the 'dangerous weakness' of some EU states could threaten the entire euro zone.

Jan 27 01:27

Norway Pays Bitter Price for Mass Third World Immigration

The NRK report concluded that “not a single one of the offenders had a Western background. Four people have been arrested. In all other cases, the victims reported that the offenders either looked like non-Western immigrants, or they spoke a non-Western language. Not a single case has been connected to a Western man.”

According to official figures released in 2008, Third World immigration accounted for 25 percent of Oslo’s population. Data from the city and state statistics bureau shows that of Oslo’s 560,484 residents, 137,878 were immigrants.

The largest single immigrant group continues to be from Pakistan. Next in line is Somalia. Other countries with relatively large immigrant groups in Oslo include Sri Lanka, Iraq, Turkey, Vietnam and Iran.

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