Tag Archives: Austerity

Spain Issues Retroactive 0.03% Tax on Bank Deposits

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“Spain will retroactively tax bank deposits to January 1, 2014 stating the move will boost growth and job creation.  Guru Huky correctly labeled the tax for what it is ‘More than a tax, this looks like a mini seizure of deposits. Someone likely needs a few million and to balance the books.’  The notion that a tax increase will boost the economy is of course absurd. But don’t worry, it’s only 0.03%, nudge nudge, wink wink … for now.”

http://globaleconomicanalysis.blogspot.com/2014/07/spain-issues-retroactive-003-tax-on.html

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Greek Banks See Quadrupling of Housing Loans by Next Year

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“Greece’s four largest banks, encouraged as the economy claws itself out of recession, plan to double mortgage lending this year and may do it again in 2015, according to Kalantonis. Home loan originations in Greece plunged from 15 billion euros at the peak in 2007 to less than 250 million euros ($340 million) last year, he said. [Banks] are counting on the growth rate of non-performing loans to stabilize once a law preventing banks from foreclosing on property is dismantled.  The government, under pressure to strengthen banks after receiving a total of 240 billion euros in aid, is forcing homeowners, who can pay their mortgage but don’t, to do so.”

http://www.bloomberg.com/news/2014-07-10/greek-banks-see-quadrupling-of-housing-loans-by-next-year.html

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Europe’s Political Response To Voters May Increase Violence

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“No matter what voters say about the EU, the leaders of Britain and Europe attempt to use the sentiment to support the EU – at least in some form.  Every setback is merely a further opportunity to create a more responsive and ultimately more amalgamated EU. The disconnect between political systems in both the US and the EU and the voters is growing deeper.  This EU vote and the political responses to it do nothing to reverse this trend.  If the political system is incapable of representing the ‘will’ of the people – even at the most cosmetic level – then the chances for less civil and more violent change increases. Is that the ‘real’ desired outcome?”

http://www.thedailybell.com/news-analysis/35362/EU-Political-Response-May-Increase-Chance-of-Violence/

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Europe’s Unraveling Is Not Political but Technological

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“The EU and the euro are facilities of globalism and those globalists that have pursued the project for so long are loath to let it die. It is important, even integral to their plans for worldwide political and socio-economic control. This is [why] Hollande and other leaders do not break away from Brussels’s destructive policies. They don’t because they cannot. They are not, in fact, representing their citizens but are evidently beholden to the same tiny elite that created the EU to begin with.  The increasing decline in EU’s economies bodes ill for the longevity of the EU experiment. It is the Internet itself that is making it difficult for the power elite to control the narrative the way it did in the 20th century.”

http://www.thedailybell.com/news-analysis/35329/Europes-Unraveling-Is-Not-Political-but-Technological/

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Europe Sinks … As Predicted

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“The headlines exploded last night with EU election results showing clearly that voters in France, England, Germany, Denmark, Hungary and Greece (among others) had had enough of the EU.What happens when a vast network of seamless information begins to inform people of the Matrix-like reality of their lives? What happens when people have access to unadulterated news and information over a relatively long period of time? Inevitably, it has an effect. As we predicted, the tribes of Europe are getting restless. These tribes were happy to take the cash when the EU was handing it out. But now, stuck with austerity and open borders, they are a good deal less content.”

http://www.thedailybell.com/news-analysis/35337/Europe-Sinks–As-Predicted/

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Cocaine Sales, Prostitution Will Now Be Counted Into Italy’s GDP

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“Italy will include prostitution and illegal drug sales in the gross domestic product calculation this year, a boost for its chronically stagnant economy and Prime Minister Matteo Renzi’s effort to meet deficit targets.  Drugs, prostitution and smuggling will be part of GDP as of 2014 and prior-year figures will be adjusted to reflect the change in methodology, the Istat national statistics office said today. The revision was made to comply with European Union rules, it said.  Renzi, 39, is committed to narrowing Italy’s deficit to 2.6 percent of GDP this year, a task that’s easier if output is boosted by portions of the underground economy that previously went uncounted.”

http://www.bloomberg.com/news/2014-05-22/cocaine-sales-to-boost-italian-gdp-in-boon-for-budget.html

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Cyprus lifts almost all domestic capital controls

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“Cyprus has reached another milestone in getting rid of capital controls it put in place after being bailed out last year, saying all domestic controls have been lifted except the opening of new bank accounts.  The Finance Ministry said in a statement Friday that a prohibition on cashing checks as well as caps on domestic transactions and payments that don’t require central bank vetting have now been removed.  However, restrictions on unfettered money transfers abroad remain in place. Authorities said they hope to lift them by year’s end.  Authorities imposed restrictions to prevent a run after international creditors last year forced the seizure of uninsured deposits in its two largest lenders.”

http://bigstory.ap.org/article/cyprus-lifts-almost-all-domestic-capital-controls

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Police Confront Rising Number of Mentally Ill Suspects

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“Police officers find themselves playing dual roles as law enforcers and psychiatric social workers. The problem has gotten worse in recent years, according to mental health and criminal justice experts, as state and local governments have cut back on mental health services for financial reasons. People with mental illness are often arrested in connection with minor crimes like disorderly conduct or trespassing. Mr. Boyd, whom the Albuquerque police said had a history of violence and who appeared to be turning away from the officers when he was shot, attracted law enforcement attention for camping illegally.”

http://www.nytimes.com/2014/04/02/us/police-shootings-of-mentally-ill-suspects-are-on-the-upswing.html?partner=MYWAY&ei=5065&_r=1

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Cyprus abolishes maximum daily cash withdrawal limits

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“In a decree issued by the finance ministry, the 300 euro limit per person per day was scrapped, along with restrictions on breaking fixed-interest time deposits prior to maturity.  The decree also allowed, under conditions, individuals to open bank accounts in other credit institutions.  Restrictions remain on moving money abroad. Cypriot officials have previously said they anticipate that all controls could be fully lifted by the end of 2014.  Cyprus was forced to wind down a major bank and convert large deposits in a second to recapitalise it in order to qualify for aid from the International Monetary Fund and the European Commission.”

http://www.reuters.com/article/2014/03/28/cyprus-capital-controls-idUSL5N0MP3GP20140328

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89% of Venetians vote to secede from Italy, form independent state

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“Inspired by Scotland’s separatist ambitions, 89% of the residents of the lagoon city and its surrounding area, opted to break away from Italy in an unofficial ballot.  The proposed ‘Repubblica Veneta’ would include the five million inhabitants of the Veneto region and could later expand to include parts of Lombardy, Trentino and Friuli-Venezia Giulia.  The 1000 year–old democratic Serenissima Repubblica di Venezia was quashed by Napoleon and was subsumed into Italy in 1866.  Wealthy Venetians, under mounting financial pressure in the economic crisis, have rallied in their thousands, after growing tired of supporting Italy’s poor and crime ridden Mezzogiorno south, through high taxation.”

http://www.dailymail.co.uk/news/article-2586531/Venice-votes-split-Italy-89-citys-residents-opt-form-new-independent-state.html

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