50,000 Anti-Austerity Marchers in Greece

Posted on by Freedomwat.ch Staff

“It’s a general strike, by the economically clueless, who want government support, when the government doesn’t have any money Their solution: eurozone (read Germany) should give them the money. Specifically, the protest is against planned government spending cuts of 11.5bn euros ($15bn; £9bn). The government of Prime Minister Antonis Samaras is proposing to save money by slashing pensions and raising the retirement age to 67.”

http://www.economicpolicyjournal.com/2012/09/50000-anti-austerity-marchers-in-greece.html

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Debt crisis: Spain ‘will need extra bail-out’

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“A bank-by-bank test of financial stability due on Friday is expected to conclude that Spain’s lenders are dangerously over-burdened with toxic debts and need to be recapitalised, restructured or shut down. The stress test is expected to show a dramatic deterioration since the previous tests were carried out at the beginning of the summer which suggested a €60bn cash injection would be the worst-case scenario. Last week, the Bank of Spain said bad debts at Spanish lenders had risen to record levels, with almost one in 10 loans in arrears. It is the highest bad-loan ratio since central bank records began in 1962.”

http://www.telegraph.co.uk/finance/financialcrisis/9559991/Debt-crisis-Spain-will-need-extra-bail-out.html

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Spain Recoils as Its Hungry Forage Trash Bins for a Next Meal

Posted on by Freedomwat.ch Staff

“Most recently, the government raised the value-added tax three percentage points, to 21 percent, on most goods, and two percentage points on many food items, making life just that much harder for those on the edge. Little relief is in sight as the country’s regional governments, facing their own budget crisis, are chipping away at a range of previously free services, including school lunches for low-income families. For a growing number, the food in garbage bins helps make ends meet. The Caritas report also found that 22 percent of Spanish households were living in poverty and that about 600,000 had no income whatsoever.”

http://www.nytimes.com/2012/09/25/world/europe/hunger-on-the-rise-in-spain.html?_r=2&emc=eta1&pagewanted=all

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Spanish Military Threatens Treason Charges As Catalonia Seeks Secession Referendum

Posted on by Freedomwat.ch Staff

“The traditionally separatist-minded province has decided to pull a Greece – and escalate with a move to secession. A resolution, on the right of the Catalan people to cut off ties with the Spanish state, will be voted on Thursday by the regional parliament. This statement of ‘the will of Catalan people to vote on the bond with the State of Spain’ opens the way for forthcoming elections to become a referendum on the sovereignty of Catalonia. The Spanish military are not taking this lying down with the counter-threat that these ‘separatists’ and their ‘inappropriate and unacceptable’ threat to break-up Spain shall be charged with high treason.”

http://www.zerohedge.com/news/2012-09-24/spanish-miltary-threatens-treason-catalonia-seeks-secession-referendum

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Police fire rubber bullets at Madrid protest

Posted on by Freedomwat.ch Staff

“Spanish riot police fired rubber bullets at baton-charged protesters Tuesday as thousands rallied near parliament in Madrid in anger at the economic crisis, in clashes that left 14 people wounded. Riot police in helmets charged to clear thousands of protestors who swamped the Plaza de Neptuno square yelling ‘Shame!’ and ‘Resign!’, addressing the government. An emergency services official said at least 14 people had been hurt during the protests, including one with a serious back injury. Police said 14 people were arrested.”

http://www.rawstory.com/rs/2012/09/25/police-fire-rubber-bullets-at-madrid-protest/

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German economic miracle leaves the poorest behind

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[Thank a central bank near you…] “As Germany finally begins to feel the pinch from a crisis that has pushed most of its neighbours into recession, it is the low-wage workers and the old-age pensioners who are being hit hardest, critics charge. According to a new four-yearly poverty report drawn up by the labour ministry, the gap between rich and poor in Europe’s top economy is continuing to widen. In 1998, 45 percent of Germany’s total wealth was owned by the wealthiest 10 percent of the population. Ten years later, that proportion had risen to 53 percent, while around half of all households owned just 1.0 percent, the study found.”

http://www.rawstory.com/rs/2012/09/24/german-economic-miracle-leaves-the-poorest-behind/

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Large manufacturers begin moving production back to the United States

Posted on by Freedomwat.ch Staff

“Watch out China and Canada, ‘Made in America’ has an attractive ring to it these days. Four years after the height of the financial crisis, marked by a drastic drop in salaries, the United States is again finding favor among manufacturers. According to a Boston Consulting Group survey and referenced by Obama, 48 percent of executives at companies with $10 billion or more in revenues said they plan to bring back production to the United States from China — or are considering it.”

http://www.rawstory.com/rs/2012/09/23/large-manufacturers-begin-moving-production-back-to-the-united-states/

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Sixty people injured in riot at Madrid music festival

Posted on by Freedomwat.ch Staff

“Sixty people were injured and 11 arrested when hundreds of youths hurled bottles and burned bins in clashes with police outside a music festival in Madrid on Saturday, officials said. Disturbances spilled into nearby streets and lasted about four hours, involving about 1,000 youths with dozens of police deployed, the spokesman, who asked not to be named, told AFP.”

http://www.rawstory.com/rs/2012/09/22/sixty-people-injured-in-riot-at-madrid-music-festival/

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Spain risks break-up as Mariano Rajoy stirs Catalan fury

Posted on by Freedomwat.ch Staff

“It is the latest move in a fast-escalating clash between Catalan nationalists and Spanish nationalists, the latter backed by King Juan Carlos and the Spanish military. Jose-Manuel Garcia-Margallo, the foreign minister, threw down the gauntlet, calling Catalan secession ‘illegal and lethal’. He warned that Spain would use its veto to stop the region of Catalonia becoming an EU member ‘indefinitely’. The constitutional crisis has eclipsed the parallel drama of a Spanish bail-out request from the European Stability Mechanism. It is no longer clear whether premier Mariano Rajoy can deliver on any austerity deal with Brussels.”

http://www.telegraph.co.uk/finance/financialcrisis/9556803/Spain-risks-break-up-as-Mariano-Rajoy-stirs-Catalan-fury.html

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Greek state tries to stem neo-Nazi rise

Posted on by Freedomwat.ch Staff

“Following its unprecedented election to parliament, Greece’s neo-Nazi group Golden Dawn has been engaged in ‘law and order’ crackdowns and solidarity gestures that have boosted its popularity, alarming the state. In recent weeks the once-fringe group has organised Greeks-only food handouts and blood donations, and has twice ousted migrant peddlers from street markets to the delight of local operators and the outrage of authorities. And it has sent squads of black-clad supporters to harass and intimidate political opponents at public events.”

http://www.rawstory.com/rs/2012/09/20/greek-state-tries-to-stem-neo-nazi-rise/

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The Freedom Watch

International Intelligence for the Resistance

Tag Archives: Austerity

50,000 Anti-Austerity Marchers in Greece

Debt crisis: Spain ‘will need extra bail-out’

Spain Recoils as Its Hungry Forage Trash Bins for a Next Meal

Spanish Military Threatens Treason Charges As Catalonia Seeks Secession Referendum

Police fire rubber bullets at Madrid protest

German economic miracle leaves the poorest behind

Large manufacturers begin moving production back to the United States

Sixty people injured in riot at Madrid music festival

Spain risks break-up as Mariano Rajoy stirs Catalan fury

Greek state tries to stem neo-Nazi rise