Tag Archives: Austerity

Cash-strapped Cyprus plots Russian exit from austerity

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“The Russians, quite correctly, view Cyprus as a convenient backdoor to the European Union – and they are not alone. The Chinese have also started arriving, encouraged by what they regard as an incredibly low bar to immigration. Forget all those tricky visa forms, for anyone prepared to spend €300,000 on a property in Cyprus there is the bonus of eligibility for permanent residency. Once this is achieved, the owner is entitled to move anywhere within the EU. For the price of a shoebox in Shanghai, Cyprus is offering a gold-card travel pass and much more besides.”

http://www.telegraph.co.uk/finance/comment/jeffrandall/9625571/Cash-strapped-Cyprus-plots-Russian-exit-from-austerity.html

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Nigel Farage: ‘Bailouts’ are a means for total subjugation of nation states

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“No, this is now a divided, split Europe, with neo-Nazi politics on the rise, with violent demonstrations in the streets. And I frankly think that the award of that Nobel Prize devalues that whole organisation.  Well, it’s not all bad news, because in Britain the opinion polls are clear that a clear majority of Brits now want to leave this Union, leaving David Cameron as piggy-in-the-middle, trying to pretend to be a Eurosceptic when he comes over here, going back home and claiming victories – but he’s stuck. And I predict one thing: Big political change is coming in Britain because he’s losing the support of millions of his own voters.”

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Spanish savers move money to Switzerland

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“Crisis-hit savers in Spain are transferring their their money to Switzerland for safety, the head of Geneva’s 80-strong banking association said on Wednesday.  In addition to an increase in Spanish funds, Droux said Geneva banks had seen an inflow of cash from other eurozone countries so far this year, as well as from the Middle East and developing countries including those in South America.  Switzerland is not a member of the European Union and so is not a member of the eurozone.”

http://www.thelocal.ch/page/view/crisis-hit-spaniards-move-money-to-switzerland

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Spain To Ban Photos of Police on Duty

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“Deputy Prime Minister Soraya Saenz de Santamaria said after months of television and Internet scenes of sometimes violent clashes between police and demonstrators, a balance had to be struck ‘between citizens’ right to protest’ and the need ‘to uphold the integrity of state security forces.’  The government’s plans were unveiled a day after Spain’s director general of police, Cosido Ignacio, said efforts are under way to secure such a ban.  Television images of clashes near Parliament on Sept. 25 showed several protesters bloodied and in need of medical attention.”

http://www.nytimes.com/aponline/2012/10/19/world/europe/ap-eu-spain-photographing-police.html?ref=global-home&_r=2&

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Tens of thousands rally in London against austerity

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“Government spending cuts brought some tens of thousands of people onto the streets of London and other British cities on Saturday in protest, with union leaders expected to call for a general strike.  Marchers carried signs reading ‘No cuts’ and ‘Tax justice not tax havens’, condemning the austerity measures introduced by Prime Minister David Cameron’s coalition government in a bid to reduce Britain’s huge deficit.”

http://www.rawstory.com/rs/2012/10/20/tens-of-thousands-rally-in-london-against-austerity/

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U.S. Payroll Tax Will Be Higher in 2013

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“The Social Security tax withholding rate is expected to return to 6.2% after two years at 4.2%. So far neither party has expressed much interest in another extension, reports WSJ.   For someone earning the 2011 median income of $50,054 that translates into $1,001.08 a year or about $40 less in a biweekly paycheck.  Below is a WSJ Calculator that will tell you how much more you will pay in taxes.”

http://www.economicpolicyjournal.com/2012/10/why-amount-taken-out-for-your-payroll.html

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Celebrations Break Out Over The EU’s Nobel Peace Prize

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French business erupts in fury against “disastrous” François Hollande

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“France is sliding into a grave economic crisis and risks a full-blown ‘hurricane’ as investors flee rocketing tax rates, the country’s business federation has warned.  Spending has risen to 55pc of GDP, similar to Sweden but without Nordic labour flexibility.  French economic growth has been near zero for the past five quarters. It may have tipped into recession over the summer as the malaise spread from Italy and Spain.  New car registrations were down 7.7pc in the third quarter from a year earlier. Unemployment has reached a post-euro high of 10.6pc.  The fear is that a fiscal shock in 2013 will tip the economy into a sharp downward slide.”

http://www.telegraph.co.uk/finance/financialcrisis/9610717/French-business-erupts-in-fury-against-disastrous-Francois-Hollande.html

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420,000 People Say Adiós to Spain

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“The parasite is definitely overwhelming the hosts in Spain. In response to the economic crisis ravaging Spain, approximately 420,150 people have emigrated from Spain since January, according to the National Statics Institute (INE). 54,912 of those that have left are Spanish citizens — meaning that over 10,000 have left since earlier estimates this summer. That’s also a 21.6 percent increase from 2011.”

http://www.economicpolicyjournal.com/2012/10/420000-people-say-adios-to-spain.html

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Greece’s biggest company Coca-Cola Hellenic moves abroad

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“Greece’s largest company is to move its headquarters to Switzerland and list its shares in London, in a further blow to the struggling eurozone country.  Shareholders, most of whom are abroad, will exchange their stock for shares in Coca Cola HBC AG, based in Switzerland. Most investors have already accepted the plan after long complaining about Greek taxes, according to Reuters.  The company, in which The Coca-Cola Co of the US has a 23pc stake, bottles drinks in 28 countries from Russia to Nigeria.”

http://www.telegraph.co.uk/finance/financialcrisis/9601942/Greeces-biggest-company-Coca-Cola-Hellenic-moves-abroad.html

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