Tag Archives: Austerity

Europe Deploys Next Generation Speed Cameras

Posted on by

“Struggling European economies are investing big money in stealth speed camera technology designed to mail tickets to motorists who have no way of knowing they are being watched. Eurozone economies have been shrinking, with both France and Spain under heightened scrutiny for failure to meet deficit reduction targets set by the European Union. Ratings agency Standard and Poor’s called the situation in Spain and France ‘socially explosive’ in a statement to Neue Osnabrucker Zeitung. Both countries are now deploying the next generation of speed cameras.”

http://www.thenewspaper.com/news/40/4058.asp

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

The Seeds of War Have Been Sown

Posted on by

“Unless the Troika backs off the weaker, heavily-indebted countries, which is not likely, yes, I believe Europe is headed toward massive civil unrest and war. Vladimir Putin is up in arms over the crisis in Cyprus. He will not stand idly by while Russian money is at risk in Europe.  Keep in mind that Russia largely controls the European energy sector. If Putin feels Russian financial losses in Europe are unjust, I don’t doubt for one minute that he would threaten to retaliate by ‘turning the lights out’ in Europe.  War and massive civil unrest in many parts of the world is a very real threat. And it’s already starting to impact the financial markets.”

http://www.moneyandmarkets.com/51630-51630

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Cyprus, lenders reach bailout deal; 40% deposit tax agreed

Posted on by

“Cyprus and its institutional lenders have reached a bailout deal, according to reports citing European Union officials. As part of the agreement the country will impose a 40% haircut on Bank of Cyprus depositors holding more than 100,000 euros ($129,760) in their accounts, Agence France Presse reported. The deal will now be put to the Eurogroup in Brussels for approval, the reports said. The weekend saw tense meetings between Cyprus and the Troika — the European Commission, the European Central Bank and the International Monetary Fund — to reach a deal before a Monday evening funding deadline.”

http://www.marketwatch.com/story/cyprus-troika-reach-bailout-deal-reports-2013-03-24

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Two biggest Cyprus banks limit ATM withdrawals to reduce bank runs

Posted on by

“The two main banks at the centre of Cyprus’s financial crisis further slashed the daily cash withdrawal limits from ATM machines on Sunday, state media reported.  With queues growing outside cash machines across the island, Laiki (Popular) Bank cut maximum withdrawals at ATMs to 100 euros a day and the Bank of Cyprus reduced its limit to 120 euros a day, the Cyprus News Agency said.”

http://www.rawstory.com/rs/2013/03/24/two-biggest-cyprus-banks-limit-atm-withdrawals-to-reduce-bank-runs/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

1,000 bank workers march on Cyprus’ presidential palace to protest bank restructuring

Posted on by

“At least 1,000 bank workers fearing for their jobs staged a march on the Cyprus presidency on Saturday ahead of a planned protest outside parliament which is to debate a bailout to save the island from bankruptcy.  The workers marched from union headquarters towards the presidential compound where they held a brief rally at the gates before heading towards the finance ministry.  The marchers held placards that read: ‘Hands off provident funds’ and ‘No to the bankruptcy of Cyprus’ as well as ‘Let us dream.’  Police initially blocked the protesters from nearing the presidential palace before then letting them through.”

http://www.rawstory.com/rs/2013/03/23/1000-bank-workers-march-on-cyprus-presidential-palace-to-protest-bank-restructuring/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Cyprus risks euro exit after EU bailout ultimatum

Posted on by

“The European Union gave Cyprus till Monday to raise the billions of euros it needs to secure an international bailout or face a collapse of its financial system that could push it out of the euro currency zone.  Trying to placate its lenders, the government proposed to parliament a ‘solidarity fund’ that would bundle state assets, including future gas revenues, as the basis for an emergency bond issue, likened by JP Morgan to ‘a national fire sale’.  It also sought the power to impose capital controls on banks, a type of measure unseen since before the country joined the single currency bloc five years ago.”

http://www.reuters.com/article/2013/03/21/us-cyprus-parliament-idUSBRE92G03I20130321

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

When Governments Take Your Money, Bitcoin Looks Really Good

Posted on by

“The tiny island of Cyprus became the center of the financial universe over the weekend, after its leaders, facing financial collapse and pressure from EU authorities, announced a plan that would let the government withdraw money directly from citizens’ savings accounts in order to fund a massive bailout. That’s the sound of Pandora’s Box being opened. European officials are now proposing directly picking the pockets of their citizens by going straight for their banking deposits, a move that Reuters says has ‘potentially severe consequences for the rest of the troubled euro zone.’ Incidentally, it’s also turning furious (and fearful) Europeans to Bitcoin.”

http://motherboard.vice.com/blog/cyprus-spain-when-governments-take-your-money-bitcoin-looks-really-good

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Cyprus rejects bank bill which would have forced people to hand over 10% of their savings

Posted on by

“The euro was plunged into fresh crisis last night as Cyprus flatly rejected plans to raid bank accounts on the debt-ridden island to save its basket-case economy.  In a stunning rebuke to European leaders, the Cypriot Parliament voted to reject draconian plans to seize up  to 9.9 per cent from the bank accounts of islanders, including 3,000 UK service  personnel and 60,000 other Britons who have made their homes there.  Not one MP backed the proposal, which the German government had demanded in exchange for backing a fresh bailout for the bankrupt Cypriot economy.”

http://www.dailymail.co.uk/news/article-2295670/Cyprus-REJECTS-bank-forced-people-hand-10-savings.html

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Is Cyprus a New Energy Battleground?

Posted on by

“If Gazprom were to control this massive resource, combined with the fact that Russia is beginning to court Israel for its natural gas, Gazprom would become the preeminent player in the Middle East for natural gas… and further increase its stranglehold on European energy.  The government of Cyprus has initially rejected the offer, opting instead to work with the European Union and keep the natural gas to themselves, the Cypriot government could soon find themselves running away from more EU-mandated madness…and straight into Russian arms.  In the next few months, we will definitely see Cyprus become the battleground of the energy cold war.”

http://www.caseyresearch.com/node/41680

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Cypriot finance minister says “no truth” to resignation reports

Posted on by

“Cypriot Finance Minister Michael Sarris denied reports on Tuesday that he had resigned, as lawmakers in the troubled euro zone member debated a divisive tax on bank deposits to secure an international bailout.  Sarris, who was in Moscow on Tuesday, told Reuters by text message there was ‘no truth’ to the reports, which had further rattled nerves with lawmakers poised to reject the tax.”

http://www.reuters.com/article/2013/03/19/us-eurozone-cyprus-finmin-idUSBRE92I0XO20130319

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet