Tag Archives: Europe

“You? A Tax Evader?”

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“It’s no secret that governments worldwide are broke. One country after another is cutting social benefits and taking other measures to reduce government spending.  Take France, for instance. It’s under pressure from the EU to reduce its budget deficit to 3% of GDP. That’s the maximum permitted under the Maastricht Treaty, the agreement underpinning the EU. Currently, it’s at about 4%.  To comply with these rules, France cut family allowances and reduced grants to local authorities. It’s also started a renewed crackdown against tax evasion. It even laid off 7,500 soldiers. But that’s not all. France also recently expanded incentives for new residents.”

http://www.nestmann.com/you-a-tax-evader

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Greek Banks Reopen but Cash Limits Remain and Taxes Soar

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“The cash-strapped nation got a short-term loan from European creditors to pay more than 6 billion euros ($6.5 billion) owed to the International Monetary Fund and the European Central Bank.  But for most Greeks, already buffeted by six years of recession, Monday was all about rising prices as tax hikes demanded by creditors took effect. There are few parts of the Greek economy left untouched by the steep increase in the sales tax from 13 to 23 percent. strict controls on cash flows, including a ban on check-cashing and payments abroad as well as limits on cash withdrawals, remained in effect.  New rules permit the withdrawal of up to 420 euros a week.”

http://abcnews.go.com/International/wireStory/greeks-find-banks-open-restrictions-place-32559279?singlePage=true

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‘It’s time to hold physical cash,’ says British senior fund manager

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“Ian Spreadbury, who invests more than £4bn of investors’ money across a handful of bond funds for Fidelity, including the flagship Moneybuilder Income fund, is concerned that a ‘systemic event’ could rock markets, possibly similar in magnitude to the financial crisis of 2008, which began in Britain with a run on Northern Rock.  The best strategy to deal with this, he said, was for investors to spread their money widely into different assets, including gold and silver, as well as cash in savings accounts. But he went further, suggesting it was wise to hold some ‘physical cash’, an unusual suggestion from a mainstream fund manager.”

http://www.telegraph.co.uk/finance/personalfinance/investing/11686199/Its-time-to-hold-physical-cash-says-one-of-Britains-most-senior-fund-managers.html

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Federal Reserve Spies on France

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“New documents from WikiLeaks show the National Security Agency spies on French companies as well as its government. That’s not especially surprising. What is surprising is seeing the Federal Reserve Board on the list of ‘supported elements’ for whom the NSA spied. We’ve always known the Fed had its nose in every economic nook and cranny. Now, thanks to WikiLeaks, we have proof. You can view the secret document online. What you will see is a standing topic list, dating back to 2002, on which the NSA collects information for further analysis. NSA’s ‘customer’ list includes not only the Fed but also the Commerce Department, Treasury Department and U.S. Trade Representative.”

http://www.thedailybell.com/news-analysis/36414/Federal-Reserve-Spies-on-France/

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Greek Island Trials Digital Currency Solution to Boost Economy

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“Drachmae Connect, a tourism business network, is using NXT technology in attempt to help ease liquidity problems and business-to-business trade in the Island of Agistri. The initiative aims to attract tourists with major discount tokens that can be purchased at their website. The opportunity of a decentralized equity and crowdfunding platform to the local Greek businesses is also on the table, similar to the WIR franc baking system. Part of the idea is to use NXT-generated assets as digital coupons and business-independent ‘air miles’ of a sort, facilitate business from tourists among other obvious benefits, like easy, decentralized fintech security.”

http://cointelegraph.com/news/114814/greek-island-trials-digital-currency-solution-to-boost-economy

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Greek Island to Trial Gold-Backed Digital Currency Alternative to the Euro

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“The mayor of the Greek island of Angistri has agreed to a trial of the digital currency Nautiluscoin as a way to attract tourists.  Brian Kelly, the founder of Nautiluscoin, published an article on CNBC on July 8 announcing the news that mayor Ioannis Athanasiou had given his support to the plan.  Angistri is a 13.3 square kilometer island near the Greek port of Piraeus, and a population of 1,142 inhabitants.  To explain the difference between Nautiluscoin and other digital currencies such as Bitcoin, Kelly described how a central ‘Nautiluscoin Stability Fund’ plans to keep the majority of the coins itself, only selling them when demand has risen.”

http://cointelegraph.com/news/114787/greek-island-to-trial-gold-backed-digital-currency-alternative-to-the-euro

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Greece’s New Finance Minister: Bitcoin ‘Highly Problematic Currency’

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“The Finance Minister of Greece’s new radical left-wing government, while at the center of anti-austerity financial policy, is in no way optimistic about Bitcoin, it has emerged.  In an article on his website blog from April 2013, Yanis Varoufakis discusses the ‘impossibility’ of a decentralized currency being controlled ‘apolitically,’ and describes this as a ‘dangerous fantasy.’  He stated: ‘[T]here can be no de-politicized currency capable of ‘powering’ an advanced, industrial society.’  Varoufakis has inherited Europe’s worst-performing economy, and will seek to end the austerity measures put in place by the previous Greek government following the 2008 financial crisis.”

http://cointelegraph.com/news/113380/greeces-new-finance-minister-bitcoin-highly-problematic-currency

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Ron Paul: Greece Today, America Tomorrow?

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“While most commentators have focused on Greece’s welfare state, much of Greece’s deficit was caused by excessive military spending. Greece’s military budget remains among the largest in the European Union.  Despite all the handwringing over how the phony sequestration cuts have weakened America’s defenses, the United States military budget remains larger than the combined budgets of the world’s next 15 highest spending militaries. Little, if any, of the military budget is spent defending the American people from foreign threats. Instead, the American government wastes billions of dollars on an imperial foreign policy that makes Americans less safe.”

http://www.ronpaulinstitute.org/archives/featured-articles/2015/july/12/greece-today-america-tomorrow/

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Greek Perspective at Freedom Fest 2015

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“Did you know about 70% of Greeks own their own home? Hear more on how this financially distraught country is made up of some of the best savers in the world. Alex of the NYC Bitcoin Center at Freedom Fest 2015.”

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The Troubled Greek Bailout Process Lurches Forward

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“On July 13, Athens reached a deal with its creditors to begin negotiations for a third bailout for the country, only a few days after Greeks voted against austerity in a referendum. Then, early on July 16, the Greek Parliament approved a list of painful reforms, including spending cuts on pensions and higher taxes. The vote was extremely controversial, both inside Parliament and out. Though the austerity measures were approved, 32 lawmakers from the ruling Coalition of the Radical Left party, known commonly as Syriza, voted against the reforms, whole another six party members abstained.  Outside Parliament, Athens saw its most violent protests of the year.”

https://www.stratfor.com/analysis/troubled-greek-bailout-process-lurches-forward

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