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Keyword: europeanunion

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  • Greece votes No: The European Union is dying before our eyes

    07/06/2015 7:11:47 AM PDT · by Mariner · 45 replies
    The Telegraph (UK) ^ | July 6th, 2015 | By Nigel Farage
    Despite the scaremongering and bullying from those in Brussels, we are waking today with Greece having delivered a resounding No. That comes despite EU bosses saying that it would mean a Greek exit from the Euro, not to mention the heavy economic pressure placed on the Greek people to go along with the wishes of Brussels. It is a crushing defeat for those Eurocrats who believe that you can simply bulldoze public opinion. Chief bully-boy Martin Schulz, President of the European Parliament, and other supposed leaders of the European Union did their best to terrify the Greek people into submitting...
  • It's All Greek To Me

    07/06/2015 5:16:56 AM PDT · by Kaslin · 6 replies
    Townhall.com ^ | July 6, 2015 | Rich Galen
    Let me say, at the outset, that I am so far out of my depth in this issue that if I look up all I see is a sea of numbers. If I were you I would roll my eyes, sigh loudly, hit the DELETE key, and return to a close examination of this morning's postings by your Facebook friends. If you're still with me, hang on. Voters in Greece, yesterday, rejected an austerity program that would have allowed the European Central Bank (the European Union's Fed) to lend money to Greek banks so they would have enough Euros to...
  • Time To Greece That Squeaky Wheel?

    07/06/2015 4:59:05 AM PDT · by NOBO2012 · 5 replies
    Michelle Obama's Mirror ^ | 7-6-2015 | MOTUS
    Remember this?Well congratulations! You are now! Except for one thing: after a few non-lethal union concessions, Detroit got the State to bail them and their pensions out. Greece just said ďnoĒ to the EUís demand for concessions, soÖthis should be fun.Hard to believe isnít it? The country that founded democracy has discovered how to destroy it. Well actually, Alexis de Tocqueville identified that mechanism a couple of centuries ago: ďThe American Republic will endure until the day Congress discovers that it can bribe the public with the public's money.Ē And weíve been implementing it incrementally ever since: †Detroitís giant tire...
  • Yanis Varoufakis Resigns as Finance Minister of Greece After Vote

    07/06/2015 4:49:37 AM PDT · by SeekAndFind · 11 replies
    New York Times ^ | 07/06/2015 | By LIZ ALDERMAN and JACK EWING
    ATHENS ó Greeceís combative finance minister, Yanis Varoufakis, who took a strong stand in demanding that creditors write off some of his countryís debts, abruptly resigned on Monday morning. Mr. Varoufakis had played a central role in rallying votes for a resounding no on a referendum on Sunday that asked Greeks whether they were willing to accept an arrangement with creditors that would require considerable further austerity, such as pension cuts. Mr. Varoufakis had threatened last week to resign in the event of a yes vote, and his decision to step down after he and his allies prevailed in the...
  • Greece votes No: The European Union is dying before our eyes

    07/06/2015 4:44:49 AM PDT · by Enlightened1 · 44 replies
    The Telegraph ^ | Nigel Farage
    Despite the scaremongering and bullying from those in Brussels, we are waking today with Greece having delivered a resounding No. That comes despite EU bosses saying that it would mean a Greek exit from the Euro, not to mention the heavy economic pressure placed on the Greek people to go along with the wishes of Brussels. It is a crushing defeat for those Eurocrats who believe that you can simply bulldoze public opinion. Chief bully-boy Martin Schulz, President of the European Parliament, and other supposed leaders of the European Union did their best to terrify the Greek people into submitting...
  • Greenfield: Socialismís Greek Staring Contest

    07/06/2015 4:06:57 AM PDT · by Louis Foxwell · 9 replies
    FrontPage ^ | Daniel Greenfield
    Socialismís Greek Staring Contest The day will come when America faces its own inner Greece. July 5, 2015 Daniel Greenfield, a Shillman Journalism Fellow at the Freedom Center, is a New York writer focusing on radical Islam. The Greeks gambled in their referendum that European elites were more committed to their ideological obsession with integrating Europe than with mere economics. Stand up to a bunch of corrupt Greek civil servants and Europe risks going back to the bad old days of nation states and independent economies. It is likely that their bet will pay off. After all even a cursory...
  • SOCIALISMíS GREEK STARING CONTEST

    07/06/2015 4:03:59 AM PDT · by Biggirl · 3 replies
    Frontpagemag.com ^ | July 6, 2015 | Daniel Greenfield
    The Greeks gambled in their referendum that European elites were more committed to their ideological obsession with integrating Europe than with mere economics. Stand up to a bunch of corrupt Greek civil servants and Europe risks going back to the bad old days of nation states and independent economies. It is likely that their bet will pay off.
  • Greek Finance Minister Yanis Varoufakis resigns after 'no' vote against bailout

    07/06/2015 3:20:22 AM PDT · by Enlightened1 · 18 replies
    Fox News ^ | 07/06/15
    Greek Finance Minister Yanis Varoufakis resigned from his post Monday after Greek citizens voted to reject further austerity measures the day prior, the Associated Press reported. Varoufakis said he was told shortly after the voters rejected Sunday's referendum regarding demands by international creditors to impose further austerity measures in exchange for a bailout package for its bankrupt economy, that the other eurozone finance ministers and Greece's other creditors would prefer he not attend the ministers' meetings. Varoufakis issued an announcement saying Prime Minister Alexis Tsipras had judged that Varoufakis' resignation "might help achieve a deal" and that he was leaving...
  • Puerto Rico Shows Greece Needs Ä50 Billion A Year: And Would Still Fail Even Then

    07/06/2015 12:21:37 AM PDT · by bob_denard · 3 replies
    Forbes ^ | 7/05/2015 | Tim Worstall
    Itís true, as Paul Krugman says, that Greece and Puerto Rico are not in exactly the same position. PR is bust to some extent, yes, but itís not in the middle of a catastrophe, as Greece is. However, there is also a similarity in their situations, one thatís extremely instructive. Theyíre both suffering from being in a monetary policy zone, a currency zone, that isnít really suitable for their circumstances. One of the two is in a fiscal policy union as well as that monetary union, the other is not. And itís long been agreed that if youíre to have...
  • Defiant Greeks reject EU demands as Syriza readies IOU currency

    07/05/2015 9:10:39 PM PDT · by catnipman · 41 replies
    The Telegraph ^ | 7/5/15 | Ambrose Evans-Pritchard
    "If necessary, we will issue parallel liquidity and California-style IOU's, in an electronic form. We should have done it a week ago," said Yanis Varoufakis, the finance minister. ... Syriza sources say the Greek ministry of finance is examining options to take direct control of the banking system ... They want a new team installed, one that is willing to draw on the central bank's secret reserves, and to take the provocative step in extremis of creating euros. "We have to restore stability to the system, with or without the help of the ECB. We have the capacity to print...
  • Did China's Stock Market Crash Just End Economic Reform?

    07/05/2015 6:43:39 PM PDT · by BenLurkin · 22 replies
    forbes ^ | 7/05/2015 @ 9:59AM
    The beauty of markets is that they have a mind of their own. For the Chinese government, this has been a tough pill to swallow. Try as it might, the Chinese government was unable to arrest the decline in the domestic stock market last week. The central bank cut benchmark interest rates and the amount of money banks must keep with it on reserve. A government investment vehicle made it known that it was buying ETFs. The securities regulator eased regulations on margin trading and the Stock Exchange cut transaction fees. Despite this, the benchmark Shanghai Composite Index declined 12%...
  • Oil prices tumble after Greek no vote to bailout, China stock market turmoil

    07/05/2015 6:55:28 PM PDT · by 2ndDivisionVet · 54 replies
    Reuters ^ | July 5, 2015 | Aaron Sheldrick and Henning Gloystein
    Oil prices fell sharply in early trading on Monday after Greece rejected austerity measures demanded in return for bailout money and as China rolled out an unprecedented series of steps over the weekend to prevent a full-blown stock market crash. In a referendum on Sunday, Greeks overwhelmingly rejected austerity measures demanded in return for bailout money, putting in doubt its continued place in the single currency and pulling down the euro EUR= in early trading on Monday. In China, stock markets face a make-or-break week after officials rolled out a series of measures to prevent a full-blown stock market crash...
  • Futures sharply lower; live CNBC coverage tonight at 8pm ET

    07/05/2015 4:21:18 PM PDT · by John W · 90 replies
    cnbc.com ^ | July 5, 2015 | Everett Rosenfeld & Ben Berkowitz
    U.S. futures are sharply lower after the Greek vote, and CNBC will have live coverage of the aftermath tonight at 8 p.m. ET. The Greek people voted resoundingly on Sunday to reject proposals from their European creditors. S&P 500 futures fell 1.5 percent in early trading after 6 p.m. ET (2200 GMT).
  • Quartet of crises threatens Europe's core

    07/05/2015 2:57:24 PM PDT · by 867V309 · 8 replies
    news.yahoo.com ^ | 4-5-2015 | Paul Taylor
    The EU's unity, solidarity and international standing are at risk from Greece's debt, Russia's role in Ukraine, Britain's attempt to change its relationship with the bloc, and Mediterranean migration.
  • If you like the Greek debt crisis, you'll love the Puerto Rico meltdown

    06/29/2015 6:43:57 AM PDT · by SeekAndFind · 32 replies
    American Thinker ^ | 06/29/2015 | Rick Moran
    The governor of Puerto Rico told the New York Times that the island cannot pay back it's $72 billion debt and will seek permission from its creditors†to defer payments. The news precedes an address by Governor†Alejandro Garcia to the Puerto Rican legislature, where he will unveil a budget that cuts about $670 million from a $9.8 billion budget, while setting aside another $1.5 billion to pay the debt. Fox News: Gov. Alejandro Garcia Padilla's spokesman, Jesus Manuel Ortiz, confirmed that the island's government is seeking to defer payments while negotiating with creditors. He confirmed comments by Garcia that appeared...
  • Greek crisis: deal unravels both sides reject reform measures

    06/24/2015 6:12:00 AM PDT · by Enlightened1 · 8 replies
    The Telegraph ^ | 06/24/15
    Grexident looming? Tsipras hits back at creditors who reject plan ahead of third Eurogroup meeting in less than a week
  • Greece enters uncharted territory after referendum 'no' vote

    07/05/2015 3:21:49 PM PDT · by familyop · 51 replies
    Associated Press ^ | July 5, 2015 | ELENA BECATOROS and DEMETRIS NELLAS
    ATHENS, Greece (AP) -- Greece lurched into uncharted territory and an uncertain future in Europe's common currency Sunday after voters overwhelmingly rejected demands by international creditors for more austerity measures in exchange for a bailout of its bankrupt economy. Results showed 61 percent voted "no," compared with 38 percent for "yes," with 93 percent of the vote counted. The referendum - Greece's first in more than four decades - came amid severe restrictions on financial transactions in the country, imposed last week to stem a bank run that accelerated after the vote was called.
  • Drudge has photo of enraged open-mouthed Greeks - What does it all mean?

    07/05/2015 1:25:08 PM PDT · by SamAdams76 · 113 replies
    Apparently there was a "referendum" in Greece and the results are surprising. The Greeks rejected some sort of measure to impose "austerity" in exchange for EU bailout. It is being seen as a "shocking rebuff" to the European leaders and the Euro is taking a tumble on the markets. Drudge says "EU on brink." Others say Greece is a "beleaguered country." Is this what happens when socialism runs out of "other people's money." I must regret to say I have not been following this story as much as I should have on account of the summer routine. So I'm hoping...
  • Greeks cannot tap cash in safe deposit boxes under capital controls

    07/05/2015 12:55:50 PM PDT · by catnipman · 82 replies
    rooters ^ | 7/5/15 | staff
    Greeks cannot withdraw cash left in safe deposit boxes at Greek banks as long as capital restrictions remain in place, a deputy finance minister told Greek television on Sunday. ...
  • The Economist Calls Victory For "No" Camp: Sees 60% Voting "Oxi"

    07/05/2015 10:33:29 AM PDT · by Enlightened1 · 18 replies
    Zero Hedge ^ | 07/05/15 | Tyler Durden
    Can't wait 4 more hours until the first official results from the Greek referendum trickle in? The "Intelligence Unit" of the Economist Group, part-owned by the Rothschild banking family, has already called it and the "Oxis" have it by a wide margin.
  • Greek referendum results live: 'No' vote to Europe's bail-out terms as Greeks choose to deal

    07/05/2015 12:53:32 PM PDT · by Lurch Addams · 90 replies
    Telegraph ^ | 7/5/2015 | Mehreen Khan
    Greek referendum results live: No vote to eurozone bail-out deal leads by 60 per cent. After 20pc of the vote is counted, Greeks look to have voted 'No' with a 60pc majority against Europe's bail-out conditions
  • Syrizaís historic win puts Greece on collision course with Europe

    07/05/2015 12:03:53 PM PDT · by 867V309 · 23 replies
    theguardian.com ^ | 26 January 2015 | How Greece made history in a day - video Ian Traynor
    ďThereís a sense that these populist movements are led by people who didnít go to university with [the leaders] and that if you ignore them they will go away. Theyíve been ignored and patronised,Ē said a senior EU policymaker in Brussels. ďThe underlying causes are economic. We want a Europe that is delivering tangible benefits to citizens. Thatís not what it feels like at the moment.Ē
  • Early Returns Show Greeks Reject Terms of E.U. Bailout

    07/05/2015 12:11:53 PM PDT · by SunkenCiv · 55 replies
    New York Times ^ | Sunday, July 5, 2015 | Suzanne Daley
    "I voted with my heart and also my mind," said Marie Triadafillou, who works in transportation logistics and voted yes. "I believe when you are in a union you cannot leave. We say in our country if the sheep leaves the flock it cannot live." ...Martin Schulz, the head of the European Parliament, who had offered at one point to come to Greece to campaign for a yes vote, said on Sunday that Greece would need to prepare to operate without the euro and with a parallel currency if there was a no vote on Sunday. While Greece would remain...
  • Greeks canít use iTunes, the App Store, PayPal and more thanks to the financial crisis

    07/05/2015 8:52:26 AM PDT · by Enlightened1 · 17 replies
    The Next Web ^ | 07/04/15 | Mic Wright
    Greece has a lot of problems right now as a result of the debt crisis, but one that you might not have immediately anticipated is that online services that require credit or debit payments to a foreign company are broken. As BuzzFeed reports, the Greek governmentís imposition of capital controls Ė which restrict citizensí ability to take money out of the country Ė following its failure to make debt repayment, also mean they canít buy a Ä0.99 song from iTunes or grab new apps. Of course, itís not the biggest issue faced by the country, but it is another source...
  • Greek Referendum Polls Close: "No" Seen Ahead By Most With Over 51% Of The Vote

    07/05/2015 9:16:11 AM PDT · by Perdogg · 110 replies
    Zero hedge ^ | 07.05.15
    At 7pm local time the Referendum polls closed. Here is what the early exit polls predict: A poll by GPO on Mega TV gave 51.5% in favor of ďnoĒ and 48.5% in for ďyesĒ Metron Analysis on Antenna TV showed ďnoĒ leading with 49% vs 46% for ďyesĒ MRB on Star TV showed ďnoĒ leading with 49%-54% vs 46%-51% for ďyesĒ Marc opinion poll for Alpha TV shows ďnoĒ ahead with 49.5%-54.5% vs 45.5%-50.5%
  • Irish Bishops Reject Plan to Ask 'Conservative' Students to Leave National Seminary

    07/05/2015 5:55:58 AM PDT · by marshmallow · 7 replies
    Under pressure from bishops, the Irish national seminary at Maynooth will welcome back several seminarians who had been asked to leave because they were viewed ďtoo conservative,Ē the Irish Catholic reports. The newspaper reports that six seminariansóin a class of ten-- were told that they should take time off to reconsider their vocations. But three will be returning to St. Patrickís seminary, after their bishops disagreed with the evaluations by seminary faculty. Msgr. Hugh Connolly, the rector of the Maynooth seminary, told the Irish Catholic that there was ďnothing out of the ordinaryĒ in the decision. He said that the...
  • Greece, China, and Russia Ė a Plan B for Greece

    07/05/2015 5:21:37 AM PDT · by RKBA Democrat · 3 replies
    Golem XIV ^ | 7-3-15 | Pseudonym
    If the Greeks were to vote ¬ĎNo¬í what would happen next? Well no one can say. But here is a quick thought on what I hope the Greek government might have been exploring if they are excluded from the euro. It¬ís just food for thought nothing more. They have to be prepared to have a currency that does not depend on Europe supplying Euros. So they will need another currency ¬Ė hopefully their own. I think we can be sure no western company has been printing them. There are few such companies and there is, I think, no possibility that...
  • Panic Sets in Among Hardy Hedge Fund Investors Remaining in Greece

    07/05/2015 7:30:40 AM PDT · by Lorianne · 21 replies
    New York Times ^ | 28 June 2015 | Landon Thomas Jr.
    For investors around the world looking at Greece, there was but one question Sunday: What is going to happen when the markets open? On Sunday night, the prime minister, Alexis Tsipras, said in a televised address that Greeceís banks and stock market would be closed on Monday, as Athens tries to avert a financial collapse. But the question of what happens when the markets do open is particularly acute for the hedge fund investors ó including luminaries like David Einhorn and John Paulson ó who have collectively poured more than 10 billion euros, or $11 billion, into Greek government bonds,...
  • Greece proposes tax amnesty for funds parked in Switzerland: paper

    07/05/2015 7:21:10 AM PDT · by Citizen Zed · 22 replies
    Reuters ^ | 7-5-2015
    Greece has proposed a tax amnesty in an effort to collect revenue on billions of euros that its citizens are believed to have quietly stashed in Swiss bank accounts, the NZZ am Sonntag paper reported. The plan, which still needs Greek parliamentary approval and a final accord with Switzerland, is to levy a flat 21 percent tax on such assets to make them legitimate, raising millions that the government in Athens desperately needs, the Sunday paper said, citing unidentified sources. "We welcome the fact that Greece has presented a proposal to resolve this," it quoted Mario Tuor, communications director at...
  • What was the question again? Greek voters confused by baffling 74-word referendum conundrum

    07/05/2015 4:03:51 AM PDT · by Libloather · 16 replies
    Daily Mail ^ | 7/04/15 | Keiligh Baker
    What was the question again? Greek voters confused by baffling 74-word referendum conundrum that demands a simple 'yes' or 'no' to decide country's future Greek voters who are facing a momentous vote tomorrow which may determine the country's future in Europe are confused by the baffling wording on the ballot paper. Nearly 10 million Greek voters will take to the ballot booths on Sunday to vote 'Yes' or 'No' in a referendum asking if they accept more austerity measures in return for bailout funds. But many are baffled by the strange wording of the 74-word question, which asks: 'Should the...
  • The past five days have been worse than all that has gone before (Greece)

    07/04/2015 8:53:39 PM PDT · by dynachrome · 19 replies
    Financial Times ^ | 7-1-15 | Iliana Magra
    Sir, Memory. No memory of life before the financial crisis; politics has dominated it ever since. But now I can hardly remember life before Friday night. Fear. I am terrified of tomorrow, all I now see is black. Uncertainty, leading us through our days, every remainder of hope for a brighter future being destroyed by the minute. I look at my three-year-old niece, I envy her ignorance, I envy her age. I am 21 years old and the past few days I feel tired by life. A referendum that supposedly gives me the right to define my future, seems to...
  • Farage on Friday: The EU does NOT care about what is best for Greece

    07/04/2015 7:47:22 PM PDT · by dynachrome · 14 replies
    Sunday Express ^ | 7-3-15 | NIGEL FARAGE, MEP
    As my colleague Patrick OíFlynn recently pointed out in the Daily Express, the bullying of Greece by the EU has stepped up a notch. Threats, scaremongering and fear is being put about to keep that country locked within the Euro straightjacket. All those running the EU care about is their project. They care not for the best wishes of the Greek people, but simply for sustaining the economic madhouse they themselves have created. Locked inside the Euro, the Greek people have been long-suffering. Quite simply, the European Union is quite happy to see Greece crucified as long as the shattered...
  • Greek villagers' secret weapon: Grow your own food

    07/04/2015 5:13:57 PM PDT · by Red in Blue PA · 38 replies
    KARITAINA, Greece (AP) ó Ilias Mathes has protection against bank closures, capital controls and the slashing of his pension: 10 goats, some hens and a vegetable patch. Related Stories 1. Pensioners queue outside banks on 1st day of capital control Associated Press 2. Greeks struggle with daily grind as foreigners head to beach Associated Press 3. Greece rattles Europe; Markets close sharply down CNBC 4. The Latest: Moody's downgrades Greece to Caa3 Associated Press 5. Greece says it will consider bank closures and capital controls on Monday Reuters If Greece's financial crisis deepens, as many believe it must, he can...
  • Sugar, flour, rice: panicked Greeks stock up on essentials

    07/04/2015 2:14:45 PM PDT · by Kartographer · 58 replies
    AFP via Yahoo News ^ | 7/4/15 | Pauline Froissart
    Greeks were hoarding cash and food Saturday amid mounting fears the economy could collapse, cracking open their wallets only to stock up on essentials and stripping supermarket shelves in the process. Related Stories Split Greece teeters on the brink with referendum AFP Stakes rise in Greece's bailout referendum AFP Greeks rush to withdraw cash as MPs debate bailout referendum AFP Greece debates referendum amid fears of run on banks AFP Greek banks say have sufficient liquidity until Tuesday AFP Mothers, elderly men and university students were spotted pushing heavily overloaded trolleys or coming out of shops weighed down by bags...
  • The Greeks should vote ďno!Ē

    07/04/2015 10:27:15 AM PDT · by Tolerance Sucks Rocks · 60 replies
    The Washington Times ^ | July 2, 2015 | Peter Morici
    Sunday, Greeks should vote ‚Äúno‚ÄĚ!Hellenic voters are being asked whether they accept the terms offered by the European Union, European Central Bank and International Monetary Fund to extend the bailout for Athens‚Äė troubled finances or give Prime Minister Tsipras a mandate to insist on a better deal.Those conditions include more cuts in government supported pensions, higher taxes and labor market reforms other European governments‚Äô are often not inclined to accept in the conduct of their own affairs.Urging a Yes vote, European leaders and their supporters in private institutions claim more austerity would reinvigorate the Greek economy and permit Greeks to...
  • Fears major bank is 'hours from collapse' as millions vote on Greeceís financial future

    07/05/2015 5:44:45 AM PDT · by RKBA Democrat · 59 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.
  • Exclusive: Europeans tried to block IMF debt report on Greece: sources

    07/04/2015 6:48:38 AM PDT · by Citizen Zed · 11 replies
    Reuters ^ | 7-3-2015 | Paul Taylor
    Euro zone countries tried in vain to stop the IMF publishing a gloomy analysis of Greece's debt burden which the leftist government says vindicates its call to voters to reject bailout terms, sources familiar with the situation said on Friday. The document released in Washington on Thursday said Greece's public finances will not be sustainable without substantial debt relief, possibly including write-offs by European partners of loans guaranteed by taxpayers. It also said Greece will need at least 50 billion euros in additional aid over the next three years to keep itself afloat. Publication of the draft Debt Sustainability Analysis...
  • Why anyone who compares Puerto Rico to Greece is wrong

    07/04/2015 6:36:17 AM PDT · by SeekAndFind · 16 replies
    Washington Post ^ | 07/04/2015 | By Matt O'Brien
    Its economy has been shrinking for years, its debts have been piling up for even longer, and its government has finally admitted that even brutal tax hikes and spending cuts wouldn't be enough for it to pay back everything it owes. I'm talking, of course, about Puerto Rico. Its governor, Alejandro GarcŪa Padilla, admitted to the New York Times on Sunday that the island is going to have restructure its $72 billion in debt that is "not payable." Now, if it sounds like you've been hearing some variation of this story for years now, it's because you haveójust about Greece....
  • A whole island pretending to be blind...: New book reveals how Greeks cheated THEMSELVES into ruin

    07/03/2015 8:10:40 PM PDT · by Rockitz · 110 replies
    DailyMail.com ^ | 3 July 2015 | Flora Drury For Mailonline
    Greece in teetering on the brink of ruin - and it is hard not to feel sympathy for the pensioners crying in the street and the mothers facing empty supermarket shelves. Yet those reading a new book may find themselves feeling a little less compassionate towards the Greeks. It reveals an eye-popping catalogue of benefits scams and tax avoidance schemes that have robbed the public purse. James Angelos' The Full Catastrophe: Travels among the New Greek Ruins lays bare the corruption which filtered through all levels of society - from the islanders who pretended to be blind, to the families...
  • Greek minister says Europe won't let Athens go under (Austerity measures="terrorizing")

    07/04/2015 5:42:33 AM PDT · by Red in Blue PA · 16 replies
    ATHENS (Reuters) - Greeceís finance minister accused creditors of trying to "terrorize" Greeks into accepting austerity, warning Europe stood to lose as much as Athens if the country is forced from the euro after a referendum on Sunday on bailout terms.
  • 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 Ė oh please let it be so Ė 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, Greeceís hard-Left Syriza-led government couldnít be trusted to implement the...
  • Greek banks prepare plan to raid deposits to avert collapse

    07/03/2015 5:53:34 PM PDT · by House Atreides · 85 replies
    FT.com ^ | July 3, 2015 | Kerin Hope
    Greek banks are preparing contingency plans for a possible ďbail-inĒ of depositors amid fears the country is heading for financial collapse, bankers and businesspeople with knowledge of the measures said on Friday. The plans, which call for a ďhaircutĒ of at least 30 per cent on deposits above Ä8,000, sketch out an increasingly likely scenario for at least one bank, the sources said.
  • Greek Banks Considering 30% Haircut On Deposits Over Ä8,000: FT

    07/03/2015 4:58:13 PM PDT · by dynachrome · 32 replies
    zerohedge.com ^ | 7-3-15 | Zero Hedge
    Greek banks are preparing contingency plans for a possible ďbail-inĒ of depositors amid fears The plans, which call for a ďhaircutĒ of at least 30 per cent on deposits above Ä8,000, sketch out an increasingly likely scenario for at least one bank, the sources said. A Greek bail-in could resemble the rescue plan agreed by Cyprus in 2013, when customersí funds were seized to shore up the banks, with a haircut imposed on uninsured deposits over Ä100,000. Meanwhile, Yanis Varoufakis swears this is nothing but a "malicious rumor": FT report of a Gk Bank Bail In is a malicious rumour...
  • China State Official Hints Beijing May Bailout Greece

    07/03/2015 6:57:07 AM PDT · by SeekAndFind · 15 replies
    Zero Hedge ^ | 07/03/2015 | Tyler Durden
    On Monday, after Greek PM Alexis Tsiprasí dramatic referendum call sparked a run on Greek ATMs, grocery stores, and gas stations, we did our part to help ameliorate the situation by sending a subtle message to Athens: Dear Greece, if you want to apply for a loan from the Asian Infrastructure Investment Bank, send an email to: information@aiibank.orgó zerohedge (@zerohedge) June 28, 2015 Indeed, now may be an opportune time to tap Beijing for a few billion given that China officially launched the AIIB this week.†As a reminder, the success of Chinaís AIIB membership drive was a political disaster...
  • Greek banks down to Ä500m in cash reserves as economy crashes

    07/03/2015 8:35:26 AM PDT · by C19fan · 12 replies
    UK Telegraph ^ | July 2, 2015 | Ambrose Evans-Pritchard
    Greece is sliding into a full-blown national crisis as the final cash reserves of the banking system evaporate by the hour and swathes of industry start to shut down, precipitating the near disintegration of the ruling coalition. Business leaders have been locked in talks with the Bank of Greece, pleading for the immediate release of emergency liquidity funds (ELA) to cover food imports and pharmaceutical goods before the tourist sector hits a brick wall.
  • [May 26, 2015] Obama-Netanyahu feud a problem for Hillary and¬†Dems

    07/03/2015 8:39:50 AM PDT · by SunkenCiv · 4 replies
    New York Post ^ | May 26, 2015 | Fredric U. Dicker
    A top GOP strategist and pollster for newly re-elected Israeli Prime Minister Benjamin Netanyahu is warning that New York Democrats, including Hillary Clinton, "will pay a heavy price" at the polls next year if they don't break with President Obama's policies on Israel and reject any deal he makes with Iran. "Hillary Clinton, [Sen.] Chuck Schumer, [Reps.] Nita Lowey, Steve Israel, Jerry Nadler, Eliot Engel and others are about to get a whole new wave of pressure from Republicans on whether they agree or not with Obama on Israel," New York-based national GOP pollster and strategist John McLaughlin told The Post....
  • Left-wing mayor of Madrid plans to rename Plaza currently dedicated to Margaret Thatcher [...]

    07/03/2015 3:49:01 AM PDT · by Moltke · 12 replies
    UK Daily Mail ^ | 3 July 2015 | Chris Pleasance
    FULL TITLE: Left-wing mayor of Madrid plans to rename Plaza currently dedicated to Margaret Thatcher after Socialist gay rights activist Spain's Left-wing Mayor has said she is planning to rename a Plaza currently dedicated to Margaret Thatcher after a former Socialist Party leader and gay rights activist. Manuela Carmena, who took over from Madrid's former conservative mayor in May, said Thatcher's name was inappropriate because she was 'the Iron Lady who enslaved the workers'. Her announcement comes just ten months after Mark Thatcher was invited to the Spanish capital to name the plaza after his mother and the former British...
  • Greek Prime Minister Alexis Tsipras learning EUís No. 1 rule: Donít mess with Angela Merkel

    07/03/2015 6:12:43 AM PDT · by canuck_conservative · 9 replies
    Financial Post [Canada] / Bloomberg ^ | Friday, July 3, 2015 | Matthew Campbell
    ... The German chancellorís disapproval helped end the political careers of former Italian prime minister Silvio Berlusconi and Greek leader George Papandreou. After burning through whatever goodwill he had with Merkelís lawmakers and the German public, the current Greek premier could be next.... ďWe are watching the end of the political career of Alexis Tsipras,Ē Jacob Kirkegaard, a senior fellow at Peterson Institute in Washington, said in a Bloomberg Radio interview. ďMr. Tsipras can continue his career on T-shirts for students, replacing Che Guevara.Ē... Refusing to play ball with Germany didnít turn out well for Berlusconi, whose premiership had survived...
  • Greenfield: Social Justice is the Root of All Debt

    07/03/2015 3:46:50 AM PDT · by Louis Foxwell · 22 replies
    FrontPage ^ | July 3, 2015 | Daniel Greenfield
    Social Justice is the Root of All Debt Itís the fault of everyone who gave the left money and wanted it back. July 3, 2015 Daniel Greenfield Daniel Greenfield, a Shillman Journalism Fellow at the Freedom Center, is a New York writer focusing on radical Islam. Banks are the root of all evil. When a member of a traditionally oppressed group wants a house or a car he canít afford, financial institutions are expected to lend him the money. If they donít, theyíre engaging in discrimination. Then when he canít pay, itís the fault of the evil banks for having...
  • Grexit Vodka: Greece's Debt Inspires New Cocktail

    07/02/2015 10:37:04 PM PDT · by nickcarraway · 3 replies
    Newsweek ^ | 6/30/15 | Polly Mosendz
    If you'd like to get drunk and be reminded of the Greek economic crisis all at once, Uwe Dahlhoff has just the product for you: Grexit vodka. The German entrepeneur trademarked the word "Grexit" last week and set about creating different drinks to go along with it. The vodka is lemon flavored, an ode to the saying "When life gives you lemons, make lemonade."