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Keyword: eurobanking

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  • Law of Unintended Consequences: New EU Tax Laws Force Thousands of Businesses to Close

    08/28/2015 11:09:42 AM PDT · by george76 · 16 replies
    Breitbart News Network ^ | 28 Aug 2015 | Donna Rachel Edmunds
    Law of Unintended Consequences: New EU Tax Laws Force Thousands of Businesses to Close in Just Six Months { Full title ]. New European Union tax rules introduced in January have already driven thousands of small companies out of business, with thousands more set to follow as awareness of the change in the VAT law grows. Research has shown that incompetence on the part of collecting agencies has further added misery to the situation. After an eight-year consultation which excluded the voices of micro-businesses, the EU introduced new rules on VAT returns at the beginning of this year, which required...
  • Surpise: EU carbon credit scheme was used to generate cash with no carbon reductions

    08/25/2015 2:17:07 PM PDT · by SeekAndFind · 6 replies
    h ^ | 08/25/2015 | Jazz Shaw
    The European carbon credit program, developed in conjunction with the United Nations, is working out just fabulously. Well… it’s at least working out fabulously for a few people. Similar to programs being developed here in the United States by climate warriors, it offers “flexibility” to various countries so it can be tailored to their individual needs. For example, if you are able to make big cuts in your carbon emissions, you get a lot of these “credits” applied to you. If there are other countries who are a bit fatter with cash but can’t manage the changes required to...
  • People Are Rioting Against The Arrival Of Refugees In Eastern Germany

    08/22/2015 9:17:05 PM PDT · by blam · 30 replies
    BI ^ | 8-22-2015 | Reuters
    Reuters August 22, 2015 BERLIN (Reuters) - At least 31 German police officers were hurt in scuffles with about 600 protesters, many hurling bottles and stones, angry about the arrival of asylum seekers in an eastern German town in the early hours of Saturday, police said. In one of the country's biggest demonstrations against the influx of refugees, police in Heidenau, near Dresden, used pepper spray on right-wing demonstrators who were trying to stop busloads of asylum seekers reach their accommodation. The outbreak of violence by right-wing radicals followed a peaceful demonstration of some 1,000 people against the roughly 250...
  • Immigration Will Be The Defining Issue Of This EU Referendum Campaign

    08/21/2015 5:45:26 PM PDT · by Steelfish · 7 replies
    Telegraph (UK) ^ | August 21, 2015g | Nigel Farage
    Immigration Will Be The Defining Issue Of This EU Referendum Campaign When the referendum comes, the British people will finally have their chance to reject these open borders by saying No to the European Union By Nigel Farage 21 Aug 2015 The results of Ipsos-MORIs new poll are astounding - yet unsurprising. They describe the real concern that the majority of British people have for uncontrolled immigration: half of the respondents rank it as one of their biggest worries, compared with just over a quarter who said their greatest fear was the economy. It is particularly interesting that this concern...
  • Spiegel: Merkel wants fourth term in power

    08/03/2015 11:47:24 AM PDT · by Olog-hai · 6 replies
    TheLocal.de ^ | 03 Aug 2015 10:20 GMT+02:00
    According to Germanys most influential political magazine, Spiegel, Angela Merkel has decided to run for a fourth term in power and has already started talks on who will run her campaign. [] If Merkel were to be re-elected in 2017 and then serve a whole four-year term, she would have been chancellor for 16 years, thus tying Helmut Kohl (CDU), who was chancellor from 1982-1998, as the longest serving chancellor in the history of the Bundesrepublik (the post-1945 German state).
  • Breaking a Taboo: Plans for Euro-Zone Tax Take Shape

    08/02/2015 11:15:44 AM PDT · by Olog-hai · 6 replies
    Der Spiegel ^ | July 30, 2015 04:47 PM | Michael Sauga, Christian Reiermann and Christoph Schult
    History has shown that when a government wants to solidify its power, it has to turn its subjects into taxpayers. The Roman Empire demanded high tribute payments from every tribe it had newly conquered. And the United States developed from a commonwealth to a federal state when, in the 18th century, Treasury Secretary Alexander Hamilton achieved uniform duties and taxes for the entire union, initially on whiskey, because it was so lucrative. Politicians in the eurozone are now seeking to emulate the historic model from the early years of the United States. The unnerving bargaining over the latest Greece bailout...
  • Are we on the threshold of a United States of Europe?

    08/02/2015 7:50:06 AM PDT · by Olog-hai · 18 replies
    The Interpreter ^ | 27 July 2015 1:41PM | Matthew Dal Santo
    Four days ago, French President Franois Hollande declared his in-principle commitment to the creation of a euro government, with the addition of a specific budget and a parliament to ensure democratic control. This is more an opening gambit in a debate about the terms of putative federalization (a term Hollande was careful to avoid), than a statement of French commitment to it at all costs. If some form of federalization comes about, it will not be because the French especially desire it, but because the logic of the Euro ultimately demands it. [] Germany is also in a better position...
  • France targets carbon tax in energy transition law (quadruples rate in five years)

    07/27/2015 12:44:52 PM PDT · by Olog-hai · 7 replies
    EurActiv ^ | 27 Jul 2015 08:03 | (Journal de lEnvironnement | translated by Samuel White)
    The debate is finally over. After more than a year of national consultations, draft bills and parliamentary discussions, French MPs finally adopted the bill for an Energy Transition for Green Growth on Wednesday 22 July. The substance of this far-reaching bill was subject to significant re-shaping by both houses of the French parliament, as well as the government. [] The adopted bill contains several last minute additions, including a Senate amendment to increase the carbon tax on fossil fuel use to 56 per ton in 2020, a four-fold increase, and 100 in 2030. The trajectory of the carbon tax increase...
  • Should Germany exit the euro?

    07/24/2015 8:50:40 PM PDT · by Olog-hai · 27 replies
    Deutsche Welle ^ | 24.07.2015 | Maya E. Shwayder
    Through all the haggling and hair-pulling in the past months over more austerity, fewer creditors getting their money, and a dreaded Grexita scenario in which Greece would leave Europes currency unionat least four prominent economists in three major American publications have casually and quietly suggested there may be a third way: A German exit. That is, Germany should exit the euro, and clear the way for countries in the south of Europenotably, Greece, Italy, Spain, and probably Portugalto reconcile their debt with a greatly depreciated currency and maybe finally get a handle on their economies. The latest thinker to suggest...
  • UN Security Council unanimously approves Iran deal; EU Ministers Approve Pact Ahead of UN Vote

    07/20/2015 7:55:05 AM PDT · by SeekAndFind · 15 replies
    Times of Israel ^ | 07/20/2015 | BY MARISSA NEWMAN AND AP
    The UN Security Council on Monday unanimously adopted a resolution endorsing the Iran nuclear deal and paving the way to lifting longstanding sanctions on the Islamic Republic. The 15-0 approval of the Iran nuclear deal clears one of the largest hurdles for the landmark pact, which will now go before the US Congress where it may face an uphill battle for confirmation. The UN vote came shortly after the European Union approved the nuclear deal, okaying the pact between the five permanent members of the Security Council plus Germany and Iran that lifts punishing economic sanctions on Tehran in exchange...
  • Spiegel Interview with Wolfgang Schuble: There Is No German Dominance

    07/20/2015 11:02:09 AM PDT · by Olog-hai · 7 replies
    Der Spiegel ^ | July 17, 2015 07:29 PM | Klaus Brinkbumer, Michael Sauga and Christian Reiermann
    Criticism of Germanys role in the recent negotiations over Greeces future has been fierce. Spiegel speaks with Finance Minister Wolfgang Schuble about the government in Athens, his own feelings about a Grexit and his relationship with Chancellor Merkel. [] Spiegel: Germany took on a leadership role in the negotiations with Greeceand adopted a very patronizing tone, as European Parliament President Martin Schulz lamented. Does it worry you that people across Europe are talking about a new German dominance? Schuble: There is no German dominance. Germany is in a good position economically, that is undeniable. But in contrast to France and...
  • [Germanys Economy] Minister: Iran must rethink stance on Israel

    07/20/2015 10:00:18 AM PDT · by Olog-hai · 8 replies
    TheLocal.de ^ | 20 Jul 2015 14:21 GMT+02:00 | (AFP)
    Germany believes Iran should rethink its stance on Israel as last weeks nuclear deal means it must bear new responsibilities, at home and abroad, Economy Minister Sigmar Gabriel said on Monday during his visit to the Islamic republic. [] With the nuclear agreement and the economic recovery that will surely come after it, Iran will also bear new responsibilities, at home and abroad, he told delegates at a conference in the capital. You must understand that for us Germans, the security of the state of Israel is also of great importance. I understand how difficult the debate is, and we...
  • Germans are richer than ever before: study

    07/20/2015 9:39:08 AM PDT · by Olog-hai · 20 replies
    TheLocal.de ^ | 20 Jul 2015 16:51 GMT+02:00 | (DPA/The Local)
    German private households collectively hold more wealth than ever before, according to a report released by the German Federal Bank on Monday. A strong labor market and comfortable incomes have helped German households financial assets to rise by 140 billion in the first quarter of the year, according to the report, climbing to 5.212 trilliona record high. [] Germans still showed an ongoing high level of risk aversion and did not take advantage of low interest rates by taking out significant loans. [] But such wealth is not necessarily shared equally across the country. A study last year revealed that...
  • GREECE PLEDGES TO GET RID OF TAX EVASION AS A WAY OF LiIFE

    07/14/2015 4:37:12 PM PDT · by grumpygresh · 13 replies
    ABC news ^ | 7/14/15 | Alan Cledenning
    ... Bokas also does installation and repair jobs and half of those involve cash deals with no receipts for his labor. The result is that a job costing 250 euros ($275) goes for 125 euros because he doesnt charge the client sales tax and Bokas doesnt report the income for taxation. Ive got a receipt for everything I sell in my shop, Bokas said. But tax officials dont know what my hands do.
  • Greeks Face 'Humiliating' Demands As Twitter Says #ThisIsACoup (EU Demands "Banker Dictatorship"?)

    07/12/2015 8:41:53 PM PDT · by tcrlaf · 64 replies
    TeleSur ^ | 6-12-2015 | Telesur
    As European Union leaders push Greece for more austerity reforms, Athens enters political crisis and social media erupts in response. A two-day emergency meeting on Greeces economic future ended Sunday with strict conditions from the European Union, including contentious austerity reforms, if it wants a new bailout and keep the euro. To meet the conditions for fresh aid packages and a third bailout that Greece needs to avoid bankruptcy, European finance ministers want Greece to pass a series of austerity measures--including tax and pension reforms-- through Parliament and put them into law by Wednesday. Greece will also have to lose...
  • Report: Britain Gets Back Less Than Half the Money It Pays Into the EU

    07/12/2015 8:42:04 AM PDT · by E. Pluribus Unum · 8 replies
    Breitbart ^ | 07/12/2015 | Donna Rachel Edmunds
    Britain receives less than half the money it puts into the EU back as subsidies thanks to the ongoing Eurozone crisis, a new report has found. The report also found that British households could be as much as 933 a year better off if Britain left the EU. The think tank which compiled the report advised that staying within the EU poses serious risks.The comprehensive new report from Business for Britain, runs to a mammoth 1,032 pages, has found that, between 1976 and 2003 the average return from Britains financial input into the EU was 68 per cent, meaning that,...
  • Fears major bank is 'hours from collapse' as millions vote on Greeces financial future

    07/05/2015 5:44:45 AM PDT · by RKBA Democrat · 61 replies
    Daily Mail UK ^ | 7-5-15 | Lydia Willgress
    (Title edited due to lemgth) Fears the central bank of Greece will collapse following today's referendum are rising as voters flocked to the polls to decide on their country's future. [snip] Officials are set to ask the European Central Bank (ECB) for emergency cash in a bid to stave off financial ruin following tonight's result, it has been reported. [snip] It comes as some sources also suggested ATMs will not open this evening in a bid to save money after EU leaders threatened to withdraw the euro in the event of a 'No' vote.
  • Enough of this charade: Greece must be told to leave the euro

    07/03/2015 10:28:53 PM PDT · by aquila48 · 29 replies
    UK Telegraph ^ | 03 Jul 2015 | Jeremy Warner
    As the Greek debt standoff approaches its final denouement oh please let it be so judgments are becoming easier to make. The most obvious (obvious all along, it might be said) is that the sooner Greece leaves the euro, the better. If a legal way of forcing the Greeks out can be found, it should be used. In any case, this debilitating charade has carried on quite long enough. For once, the German high command is correct; even if some sort of a compromise could be cobbled together, Greeces hard-Left Syriza-led government couldnt be trusted to implement the...
  • The Queen hints at desire for Britain to remain in European Union

    06/25/2015 1:13:36 PM PDT · by Berlin_Freeper · 26 replies
    theguardian.com ^ | 24 June 2015 | Kate Connolly
    Her speech, weaving historical events with present crises, was replete with some subtle and other not so subtle hints that she believed Britain belonged in the European Union her most public stance yet that she wished to avoid Britain voting to leave in a referendum.
  • German and French ministers call for radical integration of eurozone

    06/03/2015 3:57:23 PM PDT · by Olog-hai · 14 replies
    Manchester Guardian ^ | Wednesday 3 June 2015 16.00 EDT | Ian Traynor
    German and French politicians are calling for a quantum leap in how the EUs single currency is run, proposing an embryo eurozone treasury equipped with a eurozone finance chief, single budget, tax-raising powers, pooled debt liabilities, a common monetary fund, and separate organization and representation within the European parliament. They also propose that all teenagers in the EU be given the chance to spend a subsidized six months in another European country. In an article published in the Guardian and other European newspapers, Sigmar Gabriel, Germanys social democratic leader and vice-chancellor in Angela Merkels coalition government, and Emmanuel Macron, Frances...
  • SPD Euro MPs reject compromise with Britain

    06/01/2015 10:55:06 AM PDT · by Olog-hai · 1 replies
    TheLocal.de ^ | 01 Jun 2015 15:54 GMT+02:00 | Tom Barfield
    German Social Democratic Party (SPD) MEP Jo Leinen told The Local on Monday he was unhappy with comments from European Parliament (EP) President Martin Schulz, who suggested that Britain should be allowed to opt out of the call to work towards ever closer union among EU countries. The only country that has opted out of European integration with special rules in the past decades has been Great Britain, Schulz told the Frankfurter Allgemeine Sonntagszeitung. We would only be recognizing what has been true for London for a long time. But Social Democratic MEP Jo Leinen told The Local that Schulzs...
  • Visit to Germany: Gov. Walker says world will be better with trade agreement

    05/14/2015 9:03:37 PM PDT · by SoConPubbie · 24 replies
    Fox6Now.com ^ | April 14, 2015
    MADISON (AP) — Wisconsin Gov. Scott Walker tells a German audience that young people around the world will be stronger if a new trade agreement between the United States and the European Union can be reached.Walker made his comments Tuesday at the Hannover Messe trade show.A recording of his comments provided to The Associated Press shows the likely Republican presidential candidate voiced his support for the Transatlantic Trade and Investment Partnership, or TTIP. Negotiations between the U.S. and EU began on it in 2013 but many Europeans remain skeptical over concerns about environmental protections, labor security and other issues.Walker referenced...
  • Alexandre Lamfalussy, helped found euro currency, dies at 86

    05/11/2015 9:08:40 AM PDT · by Olog-hai · 6 replies
    Associated Press ^ | May 11, 2015 11:50 AM EDT
    Belgian economist Alexandre Lamfalussy, who headed the institution that became the European Central Bank and was credited as one of the founders of the shared euro currency, has died at age 86. [] Lamfalussy headed the Frankfurt-based European Monetary Institute from 1994-97. The institute laid the groundwork for the creation of a supranational central bank to manage the new currency. The institute became the European Central Bank in July 1998, under its first president, Wim Duisenberg. The euro was introduced on Jan. 1, 1999, with 11 member countries.
  • Camerons triumph may weaken movement for Britains EU exit

    05/08/2015 6:18:24 PM PDT · by Olog-hai · 6 replies
    Associated Press ^ | May 8, 2015 12:01 PM ET | Raf Casert
    It might seem logical that triumph for David Camerons traditionally Euro-skeptic Tories would boost the likelihood of Britain splitting from the European Union in a referendum the prime minister has promised to call by 2017. But things are rarely so simple in European politics. Victory has given Cameron his best chance yet to push through enough reform within the EU to avoid Brexit. And the poor showing of the UK Independence Partywhose iconic leader Nigel Farage resigned after failing to win his seatgreatly frees up the British leader to seek a compromise with his EU counterparts. Camerons Conservatives also represent...
  • HSBC looks at moving HQ from Britain as tax and regulations bite (also Dont leave EU!)

    04/25/2015 8:46:51 AM PDT · by Olog-hai · 2 replies
    Reuters ^ | Fri Apr 24, 2015 11:34pm BST | Steve Slater and Sinad Cruise
    HSBC, Europes biggest bank, has ordered a review into whether it should move its headquarters out of Britain and potentially back to its former home in Hong Kong, threatening Londons reputation as a global hub for finance and investment. The announcement from HSBC, founded in Asia but a key part of the British establishment, prompted a warm response from Hong Kong, where it is revered as The Bank, and silence from the British government. The commitment to the review comes less than two weeks before British parliamentary elections on May 7 and poses challenges for both Prime Minister David Cameron...
  • E.U. Charges Russian Energy Giant Gazprom With Abusing Its Dominance

    04/22/2015 5:05:38 AM PDT · by McGruff · 4 replies
    NY Times ^ | APRIL 22, 2015 | JAMES KANTER
    European antitrust regulators on Wednesday charged the Russian energy giant Gazprom with abusing its dominance in natural gas markets, a move amounting to a direct challenge to the authorities in Moscow. The European Commission, the European Unions executive arm, said that unfair pricing might have resulted in higher gas prices in Bulgaria, Estonia, Latvia, Lithuania and Poland, which have long been wholly or substantially dependent on Russian gas. In those countries, the commission said, Gazprom was suspected of charging wholesalers prices that were significantly higher compared with the companys costs or to benchmark prices.
  • EU-US trade talks prompt German ire

    04/18/2015 12:30:33 PM PDT · by Olog-hai · 10 replies
    TheLocal.de ^ | 18 Apr 2015 13:35 GMT+02:00 | (AFP)
    Say four simple letters, TTIP, to many Europeans and youre likely to be met with a blank stare. But in Germany, where resistance to the proposed US-EU free trade pact or Transatlantic Trade and Investment Partnership is fiercest, the response is likely to be a volley of angry words. In fact, in the whole of Europe, perhaps only in Austria and Luxembourg is the interest and opposition likely to be of a similar magnitude, as a new round of talksthe ninth since last yearkicks off in New York on Monday. According to a YouGov poll published at the end of...
  • Greeks brim with pride as country totters on the edge

    02/15/2015 5:32:22 AM PST · by C19fan · 39 replies
    Reuters ^ | February 15, 2015 | Deepa Babington and Karolina Tagaris
    For over a fortnight, Europe's single warning to Greece has been that the chaos and misery of national bankruptcy await it unless its new left-wing government changes its anti-austerity tune. The message of impending doom appears to have gone largely unnoticed on the streets of Athens, where a mood of hope and optimism bordering on euphoria reigns as Greeks see themselves finally shaking off foreign shackles to shape their own destiny.
  • Europe isnt working says Cameron

    03/17/2015 2:36:55 PM PDT · by Olog-hai · 9 replies
    EurActiv ^ | 17/03/2015 - 15:38 | Mark Briggs
    Speaking to BuzzFeed, Cameron admitted any future negotiations would be tough, but maintained his stance that a continuation of the status quo was not an option. The EU isnt working properly and too many people are happy to go on as they are, Prime Minister David Cameron said yesterday (16 March). Europe isnt working properly. You can see that by the fact that Britain, outside the euro, has created more jobs in the last five years than the other 27 put together, said Cameron. Rather than burying this under the carpet, lets work out what needs to change. [] Yesterday,...
  • Germany joins China development bank

    03/17/2015 10:10:58 AM PDT · by Olog-hai · 14 replies
    TheLocal.de ^ | 17 Mar 2015 11:38 GMT+01:00
    Finance Minister Wolfgang Schuble confirmed on Tuesday that Germany has agreed to join the China-led Asian Infrastructure Investment Bank (AIIB), despite pressure from the US.Germany, France and Italy want to bring our long experience to help the bank build a solid reputation, Schuble said at a joint press conference in Berlin with Chinese vice-premier Ma Kai. We want to make a contribution to the positive development of the Asian economy, in which German companies are actively taking part, he said. France and Italy have also agreed to become members of the $50-billion institution, seen as a rival to the...
  • The E.U. Experiment Has Failed

    03/16/2015 8:23:01 PM PDT · by annalex · 33 replies
    Hoover Institution ^ | March 5, 2015 | Bruce Thornton
    The E.U. Experiment Has Failedby Bruce ThorntonThursday, March 5, 2015 The slow-motion crisis of the European Union is the big story that rarely gets the attention it deserves. Even an event like the recent terrorist attack in France that left 17 dead is often isolated from the larger political, economic, and social problems that have long plagued the project of unifying the countries of Europe in order to harness its collective economic power, and to avoid the bloody internecine strife that stains its history. On the economic front, the E.U.s dismal economic performance over the last six years was summed...
  • Thomas Piketty on the Euro Zone: We Have Created a Monster

    03/11/2015 10:10:41 AM PDT · by Olog-hai · 20 replies
    Der Spiegel ^ | March 10, 2015 04:06 PM | Julia Amalia Heyer and Christoph Pauly
    In an interview with Spiegel, celebrated French economist Thomas Piketty speaks about Alexis Tsipras election victory in Greece, Europes inability to fix its financial woes and what EU leaders can learn from the United States. [] We may have a common currency for 19 countries, but each of these countries has a different tax system, and fiscal policy was never harmonized in Europe. It cant work. In creating the eurozone, we have created a monster. [] We need a fiscal union and a harmonization of budgets. We need a common debt repayment fund for the eurozone, like the one proposed...
  • Varoufakis unsettles Germans with admission Greece won't repay debts

    03/10/2015 8:42:13 AM PDT · by tcrlaf · 19 replies
    Reuters UK ^ | 3-10-2015 | Madeline Chambers
    Greek Finance Minister Yanis Varoufakis has described his country as the most bankrupt in the world and said European leaders knew all along that Athens would never repay its debts, in blunt comments that sparked a backlash in the German media on Tuesday. A documentary about the Greek debt crisis on German public broadcaster ARD was aired on the same day euro zone finance ministers met in Brussels to discuss whether to provide Athens with further funding in exchange for delivering reforms. "Clever people in Brussels, in Frankfurt and in Berlin knew back in May 2010 that Greece would never...
  • Germans happy with being EU top dogs (happy with Berlin ruling the EU)

    03/04/2015 4:31:35 PM PST · by Olog-hai · 6 replies
    TheLocal.de ^ | 03 Mar 2015 11:38 GMT+01:00 | Tom Barfield
    Germans are more supportive of how the EU is run than any other member state, but experts tell The Local that may only last as long as the economic good times. Among Germans, 69 percent told Gallup pollsters that they approve of the EU leadership's job performance in 2014. That was well above the average approval rating of 49 percent across all member states, while just three other countriesIreland, Belgium and Luxembourgtopped 60 percent approval. [The results] might be an indication that some Germans now start to identify leadership within the European Union with their own government and with the...
  • McDonalds accused of avoiding 1bn in taxes (by European trade unions)

    03/01/2015 12:46:57 PM PST · by Olog-hai · 9 replies
    EU Observer ^ | 26 Feb 2015, 09:24 | Benjamin Fox
    Fast-food giant McDonalds has avoided paying 1 billion in tax across the EU, and should be included in the EUs probe on sweetheart tax deals, according to a report published Wednesday (25 February). The report, published by the European Federation of Public Service Unions, its US Counterpart and the charity War on Want, accuses McDonalds of aggressive and potentially abusive optimization of its structure which has led to the avoidance of significant amounts of tax across the continent. It concludes that it is likely that the company reached a secret tax deal with Luxembourg. In July 2009, the Happy-Meal maker...
  • EU unveils vast plan to merge 28 energy markets

    02/25/2015 6:15:20 AM PST · by Olog-hai · 3 replies
    Associated Press ^ | Feb 25, 2015 8:18 AM EST | Lorne Cook
    The European Union’s executive has unveiled a vast plan to boost coordination between the EU’s 28 national energy markets to wean Europe off unstable Russian gas supplies and provide cheaper energy for consumers. European Commission Vice President Maroš Šefčovič on Wednesday called it “undoubtedly the most ambitious energy project” since the inception of the EU over half a century ago. He believes that improving links across borders in Europe’s energy grid could save businesses and consumers up to €40 billion ($45.4 billion) a year. A more energy-independent Europe will also increase the EU’s political options in eastern Europe. […] “Our...
  • One fifth of Germans want revolution: report

    02/23/2015 8:26:50 AM PST · by Olog-hai · 20 replies
    TheLocal.de ^ | 23 Feb 2015 14:27 GMT+01:00 | Matty Edwards
    One in five Germans believe that a revolution would be the only way to truly reform society, a study released by the Free University of Berlin on Monday shows. Anti-capitalism, anti-fascism and anti-racism were all are prominent positions according to the study entitled Against state and capitalfor the revolution, which has revealed a public much further to the left than previously thought. In the report, 20% of the people surveyed agreed with the statement that Living conditions wont be improved by reformswe need a revolution. A similar percentage of people said they saw the rise of a new fascism in...
  • Charity finds most Germans ever in poverty

    02/19/2015 12:08:50 PM PST · by Olog-hai · 15 replies
    TheLocal.de ^ | 19 Feb 2015 16:53 GMT+01:00 | (DPA/The Local)
    Poverty levels in Germany have reached an all-time high, with 15.5 percent of the populationor 12.5 million peopleaffected. Single parents and unemployed people were the hardest hit, according to a report from a welfare association. Over 40 percent of single parents and almost 60 percent of the unemployed are poor, according to the Parittische Gesamtverband, an umbrella organization for associations focusing on social services. Older people and retirees, around 15 percent of whom are considered poor, are the fastest growing demographic group in terms of poverty, according to the report released on Thursday. One of the report authors, Christian Woltering,...
  • New Report Reveals the Depth of German Poverty (Really?! In the Worker's Paradise?!)

    05/25/2009 12:11:12 PM PDT · by AlaskaErik · 32 replies · 1,486+ views
    TIME via Yahoo ^ | May 25, 2009 | TRISTANA MOORE
    To many on the outside, Germany looks like a big, rich country enjoying the benefits of being Europe's largest economy. Inside, Germans know that looks can be deceiving. As in any nation, parts of Germany suffer from poverty, and Germans have always assumed they knew which parts: the west is rich and the east is poor. But a new report reveals the truth isn't that simple. The wealth imbalance in Germany isn't just between east and west; there are also large regional differences between the country's north and south. And across the country there are pockets of poverty more crushing...
  • Greece's leaders stun Europe with escalating defiance

    02/09/2015 10:26:07 PM PST · by NRx · 36 replies
    The Telegraph ^ | 09-02-2015 | Ambrose Evans-Pritchard
    Greeces finance minister Yanis Varoufakis has spelled out the negotiating strategy of the Syriza government with crystal clarity. Exit from the euro does not even enter into our plans, quite simply because the euro is fragile. It is like a house of cards. If you pull away the Greek card, they all come down, he said. Do we really want Europe to break apart? Anybody who is tempted to think it possible to amputate Greece strategically from Europe should be careful. It is very dangerous. Who would be hit after us? Portugal? What would happen to Italy when it discovers...
  • EU commission hopes global standard will end tax evasion (avoidance; tax havens etc.)

    02/09/2015 11:57:20 AM PST · by Olog-hai · 15 replies
    EU Observer ^ | 02/09/2015 19:26 | Nikolaj Nielsen
    The European Commission is hoping that a new global reporting standard will eradicate tax evasion and tax fraud in the wake of the latest revelations in Switzerland. We are hoping that the coming into force of this new agreement at the very latest by 2018 will put an end to tax evasion and fraud by the use of secret bank accounts, European Commission spokesperson Vanessa Mock told reporters in Brussels on Monday (9 February). The EU and Switzerland negotiated an agreement on the taxation of savings back in 2014. The plan is to unravel the Swiss tradition of banking secrecy...
  • Cyprus Airways shuts after EU order to repay state aid

    01/30/2015 6:49:21 AM PST · by Olog-hai · 1 replies
    European Voice ^ | 01/09/2015 17:20 CET | Dave Keating
    The national airline of Cyprus has ceased operations after the European Commission ordered that it must repay 65 million in illegal state aid. The Commission ruled that the airline, which has been losing money for some time and is 94% government-owned, must pay back 65 million of the 103 million that it received in state aid in 2012 and 2013. The airline has been receiving money from the government since 2007.
  • Eurozone deflation hits 0.6%

    01/30/2015 6:32:21 AM PST · by Olog-hai · 13 replies
    European Voice ^ | 01/30/2015 11:42 CET | Dave Keating
    The eurozone experienced negative inflation for the second month in a row, according to a flash estimate published today (30 January) by Eurostat, the European Union’s statistical office. Inflation is expected to be at −0.6%, with consumer prices falling further than economists had forecast. The fall represents the biggest decline in prices in the history of the euro. […] The drop was driven by the fall in energy prices (−8.9%, compared with −6.3% in December). […] The deflationary spiral comes as Mario Draghi, the president of the European Central Bank (ECB), is trying to tackle deflation with a policy of...
  • Austrian Bank On The Edge! Derivatives Is 10 Times The Size Of The Global Economy

    01/28/2015 1:49:24 PM PST · by alexmark1917 · 18 replies
    Last year Austria's largest bank, Erste Bank, sent shudders of Credit Anstalt through the European Banking System. This year it is Austria's 3rd largest bank that is scaring investors senseless. On the heels of the Swiss National Bank's decision to un-peg from the Euro, Raiffeisen Bank's Swiss-Franc-Denominated mortgage worries have resurfaced (along with Russian/Ukraine writedowns) and nowhere is that more evident than the total collapse of the bank's bonds (from over 95c to 65c today). Even after the ECB Q (and some apparent intervention to weaken the Swissy) bonds kept free-falling. Perhaps, The Freedom Party's demands for a bailout will...
  • This Is The Beginning Of The End For The Euro

    01/27/2015 10:23:22 AM PST · by SeekAndFind · 21 replies
    TEC ^ | 01/27/2015 | Michael Snyder
    The long-anticipated collapse of the euro is here. When European Central Bank president Mario Draghi unveiled an open-ended quantitative easing program worth at least 60 billion euros a month on Thursday, stocks soared but the euro plummeted like a rock. It hit an 11 year low of $1.13, and many analysts believe that it is going much, much lower than this. The speed at which the euro has been falling in recent months has been absolutely stunning. Less than a year ago it was hovering near $1.40. But since that time the crippling economic problems in southern Europe have gone...
  • ECB unveils 1.1 trillion stimulus plan (European Central Bank; $1.25 trillion)

    01/22/2015 2:15:52 PM PST · by Olog-hai · 10 replies
    EU Observer ^ | 01/22/2015 18:09 | Benjamin Fox
    The European Central Bank will plough 1.1 trillion into the eurozone economy in a last-ditch attempt to breathe life into the European economy. At its monthly governing council on Thursday (January 22), the banks governing council agreed to start buying up to 60 billion of government bonds from March in an unprecedented quantitative easing program. The program is open-ended, and will run until September 2016 at the earliest. Speaking at a press conference following the governing council meeting, ECB president Mario Draghi said that the bond-buying program would remain in place until we see a sustained adjustment in the path...
  • Germany repatriates more gold: Bundesbank

    01/20/2015 12:01:25 AM PST · by Olog-hai · 8 replies
    The German central bank, or Bundesbank, said Monday that it stepped up the repatriation of its gold reserves from overseas storage last year. The Bundesbank successfully continued and further stepped up its transfers of gold, the central bank said in a statement. In 2014, 120 tonnes of gold were transferred to Frankfurt from storage locations abroad: 35 tonnes from Paris and 85 tonnes from New York. Germanys gold reserves are the second-biggest in the world after those of the United States and totaled 3,384.2 tonnes this month, according to the latest data compiled by the World Gold Council.
  • Operation Helicopter: Could Free Money Help the Euro Zone?

    01/09/2015 1:19:20 AM PST · by Olog-hai · 8 replies
    Der Spiegel ^ | January 06, 2015 12:22 PM | Anne Seith
    It sounds at first like a crazy thought experiment: One morning, every resident of the eurozone comes home to find a check in their mailbox worth over 500 ($597) and possibly as much as 3,000. A gift, just like that, sent by the European Central Bank (ECB) in Frankfurt. The scenario is less absurd than it may sound. Indeed, many serious academics and financial experts are demanding exactly that. They want ECB chief Mario Draghi to fire up the printing presses and hand out money directly to the people. The logic behind the idea is that recipients of the money...
  • German inflation lowest since October 2009

    01/05/2015 3:13:02 PM PST · by Olog-hai · 1 replies
    TheLocal.de ^ | 05 Jan 2015 14:53 GMT+01:00 | (AFP)
    Inflation in Germany, Europes biggest economy, slowed to just 0.2 percent in December, its lowest level in more than five years, and averaged 0.9 percent for the whole of 2014, according to new figures released on Monday. [] Using the Harmonized Index of Consumer Prices (HICP)the yardstick used by the European Central Bankinflation in Germany was even lower at 0.1 percent in December, way under the ECBs annual inflation target of just below 2.0 percent. The chronically low level of inflation across the single currency bloc has fueled concern the region could slip into deflationa sustained and widespread drop in...
  • EU calls euro membership irrevocable but renegotiable

    01/05/2015 7:28:29 AM PST · by Olog-hai · 14 replies
    Associated Press ^ | Jan 5, 2015 10:25 AM EST | Raf Casert
    The European Unions executive Commission said Monday that membership in the euro bloc is irrevocable but left it open to what extent Greece could renegotiate the terms after elections on Jan. 25. Greeces left-wing Syriza party leads the polls ahead of the elections and is in favor of changing the conditions of the countrys international bailout deal. That would likely anger the rest of the eurozone, which has given Athens the bulk of the rescue loans. [] EU spokeswoman Annika Breidthardt said Monday that if the Greek elections call for a need to reconsider the conditions of Athens membership within...