(Updated 4/2) Numerian told us to Pay Attention when the EU and IMF came up with a plan to bail out Cyprus banks (Greek Cyprus) by confiscating deposits. He was right on target, early but just in time. Far from just the announced confiscation of 6% to 9%, it now looks like the dynamics of [...]
Cypress, much like its neighbor Greece, is in a financial bind. Looking for a 10€ billion bailout package, it needs to show that it is taking steps necessary to balance its budget.
Now, you can go the austerity route, but indicators show that austerity is precisely the wrong message to send the markets these days: [...]
“Without the bailout, Cyprus would have defaulted.” Peter Sharp
“EU Bailout” video after the break.
The next stage of the global financial collapse has now arrived.
In an announcement this weekend, the EU and the IMF have come to the rescue of Cyprus, at the request of the government, by offering Euro 10 billion in aid, in exchange for which the Cyprus government will impose a “one-off tax” on all [...]
British Prime Minister David Cameron and pseudo socialist President Francois Hollande had a “better idea.” They would swagger forth into the fray to arm the Syrian rebels. Hollande was given the task of surfacing the idea at the European Union conference yesterday. But it was Cameron’s idea. (Image)
It didn’t take long to figure out [...]
From the Guardian:
David Cameron will on Wednesday set a deadline to hold an in-out referendum on Britain’s membership of the European Union by the end of 2017 as he hardens his position on the issue that has bedevilled Tory leaders for a quarter of a century.
To the delight of Eurosceptics, the prime [...]
Remnants of European imperialism are on display this year in Africa, as France (and eventually NATO) draws itself deeper into the morass of Mali:
SEGOU, Mali — Malian and French forces were reported in control of two important central Malian towns on Tuesday after the French Defense Ministry said they recaptured them on Monday, [...]
The world is on the brink of a fresh “currency war,” Russia warned, as European policy makers joined Japan in bemoaning the economic cost of rising exchange rates.
“Japan is weakening the yen and other countries may follow,” Alexei Ulyukayev, first deputy chairman of Russia’s central bank, said at a conference today in Moscow. [...]
Here we go again, as the West decides it can’t even wait for the UN to do its thing and roll out an ECOWAS intervention in Mali.
President Francois Hollande says French troops are taking part in operations against Islamists in northern Mali.
French troops “have brought support to the Malian army to [...]
This morning I was pleasantly surprised to read a piece sent along by Tina, that pointed to a potential breakthrough in the decades long fighting between Kurdish seperatists and the Turkish government.
ANKARA: The Turkish government and jailed Kurdish rebel leader Abdullah Ocalan have agreed on a roadmap to end a three-decade-old insurgency that has [...]
Climate change, economic crises, ageing populations — to solve global problems, leaders will have to plan for the long term. But although many results of bad policymaking only show up generations down the road, politicians have to stand for re-election regularly, and are often only interested in short-term success. Major topics involving the [...]
Russia Today, December 14
The European Court of Human Rights found the CIA guilty of torturing a terror suspect for the first time ever. A German citizen was illegally detained, tortured and sodomized by a CIA “rendition team’ after being mistaken for an al-Qaeda member.
The Strasbourg-based court has unanimously ruled that German citizen Khalid [...]
BBC, December 13
European finance ministers have reached a deal on rules for supervising eurozone banks, ahead of an EU summit.
Around 200 of the biggest banks will come under the direct oversight of the European Central Bank, which will act as chief supervisor of eurozone banks.
The agreement [PDF] – a key step towards [...]
A grand hero of our far right wing, Nicholas Sarkozy, may have unwittingly created an irreparable fracture in the Conservative party in France.
PARIS—Former prime minister Francois Fillon, outraged at losing a chaotic internal leadership vote marred by irregularities, announced Tuesday that he and his followers are splitting off from France’s main conservative party and [...]
Telegraph, By James Kirkup and Bruno Waterfield, November 23
Talks on a new European Union budget have collapsed after David Cameron won German support in a row with France about his demands for more cuts in spending.
The Prime Minister accused Brussels of ‘living in a parallel universe’ and said there could not be [...]