Tag Archives: Austerity

Spain halts evictions of vulnerable homeowners

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“Spain announced Thursday a two-year halt to evictions of the most vulnerable home owners as a public outcry mounted over suicides linked to desperate people facing expulsion.  The Spanish Banking Association announced Monday it was freezing mortgage-related evictions for two years in extreme cases. Savings banks, too, suspended expulsions while awaiting new government rules.  Many people were shocked by two suicides in 15 days by indebted homeowners facing expulsion in Spain, where both banks and borrowers were hammered by a 2008 property crash.”

http://www.rawstory.com/rs/2012/11/15/spain-halts-evictions-of-vulnerable-homeowners/

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The Crack-Up of the Eurozone Detailed in One Chart

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“Keep in mind that Greece is in such bad shape that it didn’t even make this chart. Only Germany of the Eurozone Big 5 is showing positive industrial production [growth] over the last 7 plus years.   Germany will not be able to bail everyone else out. It comes down to European Central Bank money printing which will result in a devalued euro, making the debt easier to payoff in the cheaper euros, or it is collapse of the Eurozone.”

http://www.economicpolicyjournal.com/2012/11/the-crack-up-of-eurozone-detailed-in.html

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Merkel booed as she praises austerity cuts in bailed-out Portugal

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“Police deployed in large numbers in Lisbon, blocking off some streets and keeping at bay demonstrators who booed Merkel as she arrived at the presidential headquarters. Activists brandished banners reading: ‘She wants to kill the Portuguese, she wants supremacy in Europe!’; ‘Portugal is not Merkel’s country’; ‘Angela Merkel assassin’; and ‘A European Germany yes, a German Europe no’.  Demonstrators released black balloons in a sign of ‘mourning’ and covered several Lisbon monuments in black sheets to show their discontent.”

http://www.google.com/hostednews/afp/article/ALeqM5iiH_kbo37IM-7Tq50A5C2AYqYwCw

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Directed History: A Fact of Life?

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“Last Wednesday, just before Angela Merkel flew to London to tell David Cameron how desperately she wants Britain to stay in the EU, she told the European Parliament: ‘Of course the European Commission will one day become a government, the European Council a second chamber and the European Parliament will have more powers – but for now we have to focus on the euro and give people a little more time to come along.’ In other words, the EU is still on track to become precisely that ‘government of Europe’ that Jacques Delors was boasting about in 1989 (to which Mrs Thatcher famously responded ‘No, no, no’).”

http://www.thedailybell.com/28283/Directed-History-A-Fact-of-Life

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Interpol elects French woman as first female president

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“Ballestrazzi, 58, became a police commissioner in France in 1975 and was already vice-president for Europe on Interpol’s executive committee.  French Interior Minister Manuel Valls, who attended the Interpol assembly earlier this week, said Ballestrazzi was ‘a great police woman’.  Valls said her experience with organised crime would serve her well in fighting drug trafficking, mafias from southern and eastern Europe as well as growing political violence that requires a coordinated international response.”

http://www.rawstory.com/rs/2012/11/08/interpol-elects-french-woman-as-first-female-president/

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Money Laundering Accusations Could Delay Cyprus Bailout

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“Cyprus had applied in June to become the fifth nation to receive a bailout in the euro crisis. But there are no signs whatsoever that Cyprus is willing to commit to a serious austerity program, sources in Brussels said.  The talks could now be delayed by accusations that Cyprus is lax on money-laundering.  Banks in Cyprus hold $26 billion (€20.33 billion) in deposits by Russian investors. According to the BND, most of this money has been illegally moved abroad to evade Russian tax authorities. By Cypriot standards it’s a tremendous sum given that the island’s entire annual GDP amounts to €17 billion.”

http://www.spiegel.de/international/europe/money-laundering-accusations-could-stall-aid-to-cyprus-a-865580.html

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Francois Hollande lurches Right in historic U-Turn to save French economy

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“French president François Hollande has bowed to massive pressure for business tax cuts to pull France’s economy out of slump and stave off industrial decline, ditching a core element of his socialist platform.  Company taxes will fall by €20bn a year equal to 1pc of GDP, to be phased in gradually by 2015 under a convoluted system of rebates.  Spending cuts will plug the revenue gap in order to meet the EU’s 3pc deficit target.  Critics call it the most humiliating U-turn in French politics since François Mitterrand abandoned his disastrous experiment of ‘Socialism in one country’ under a D-Mark currency peg in 1983.”

http://www.telegraph.co.uk/finance/economics/9659504/Francois-Hollande-lurches-Right-in-historic-U-Turn-to-save-French-economy.html

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Best Nigel Farage speeches

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“A montage of speeches in the European Parliament by leader of the Europe of Freedom and Democracy Group, Nigel Farage MEP.”

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Greeks clash with riot police as politicans pass austerity measures

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“Conservative and socialist lawmakers from Greece’s three-party coalition government voted to adopt the €18.5bn budget cuts by 2016 despite protests earlier in the day by more than 70.000 people who massed outside the parliament.  Violent protesters threw fire bombs and rocks at police, who responded with stun grenades, tear gas and the first use of water cannon in Greece in years.  Inside the building, lawmakers interrupted the debate as Parliament employees went on strike to protest wage cuts. Pasok leader Evangelos Venizelos announced that five of his party’s deputies who voted against the measures were expelled from the party.”

http://www.telegraph.co.uk/finance/financialcrisis/9662285/Greeks-clash-with-riot-police-as-politicans-pass-austerity-measures.html

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Banking with a human face: ‘Bank on Dave’ for people in UK

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“Banking malpractice, excessive risk taking and bonuses paid for out of taxpayer bailouts. It’s little wonder that people’s patience with their banks has run out. But if not the global financial giants, where you entrust your hard-earned cash? RT’s Laura Smith meets one British man, who thinks, he’s got the answer.”

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