An unprecedented tax on bank deposits as part of the €10 billion rescue announced Saturday led to a run on cash machines in Cyprus. It also spooked investors, who feared that other weak eurozone states may be forced down the same path, despite EU statements to the contrary. [CNN MONEY] THAT IS the story from [...]
Tag Archives | Greece
Austerity 2013
…after this week’s fiscal cliff deal, the United States is now on pace to engage in about as much fiscal consolidation in 2013 as many European nations have been doing in recent years — and more than countries like Britain and Spain. – U.S. now on pace for European levels of austerity in 2013 FROM [...]
David Gregory: “What is America doing to work its will…?”
“What is America doing to work its will to change the trajectory in Libya?” – David Gregory, moderator of “Meet the Press” SUNDAY ON “Meet the Press,” David Gregory revealed the tunnel vision in much of the elite media, post Arab Spring. Not picking on him, because over on Fox they didn’t do much better. [...]
Anti Austerity Protests in Greece and Spain Send Markets into Chaos
Clear signs of the political and social cost of the euro zone crisis sent financial markets tumbling Wednesday as Greece faced a crippling 24-hour strike and Spain cleaned up after violent protests near the country’s Parliament. [New York Times] FIREBOMBS, SMASHED windows, police and protesters clashed in Greece, as more cuts for EU-IMF loans were [...]
Pro Austerity Pasok Wins in Greece, But Tsipras Isn’t Going Anywhere
An early risk asset rally has faltered as traders turn their attention away from Greece and to rising Spanish bond yields. – Financial Times TOO CLOSE TO CALL ended with pro bailout, conservative New Democracy party winning the election in Greece. The elites did, too, as did the banks, but it was a close one [...]
Greek Elections Sunday: Will Anti-Austerity Party Syriza Win?
Central banks from Tokyo to London checked their ammunition on Friday in preparation for any turmoil from Greece’s election, with the European Central Bank hinting at an interest rate cut and Britain set to open its coffers. – Reuters ALL EYES ON GREECE tomorrow for what could evolve into a game-changing world event vote. Will [...]
Nowhere to Hide After Dismal Jobs Report
The American jobs engine hit stall speed in May, with the economy adding just 69,000 new jobs while the unemployment rate climbed to 8.2 percent. [CNBC] PRESIDENTS CAN’T create jobs to move the economy, but they can fall because of it. The news was bad on Friday, with Dow Jones futures reacting immediately upon opening, [...]
Michigan is All the Marbles for Mitt
Michigan Democratic strategist Joe DiSano has taken it upon himself to become a leading mischief maker. DiSano says he targeted nearly 50,000 Democratic voters in Michigan through email and a robo call to their homes, asking them to go to the polls Tuesday to vote for Rick Santorum in attempt to hurt Romney. – Democratic [...]
Twin Freaks: Franklin Graham and Rick Santorum
I’m caught between grateful at the timing of Graham’s gaffe and annoyed we’re still talking about Pres. Obama being a secret Muslim. I’d much rather talk about all of us being Satan, according to Rick Santorum, and all because the ladies demand control over our lady parts. You’d think both of these righteous men would [...]
WSJ: The Greece Ultimatum
The background of the drama also includes whether Greek Prime Minister Papandreou can keep his government together. From the WSJ: “Does Greece want to remain part of the euro zone or not,” German Chancellor Angela Merkel said. “That is the question the Greek people must now answer.” French President Nicolas Sarkozy said the Greeks would [...]
Debt Chicken is the Democrats’ Fault
“…There’s the politics and then there’s the arithmetic and the arithmetic says we’re not getting to the right place. … …and the idea that we’re not going to raise revenue… (waving hands in the air)… seems to be (shakes his head)… I don’t even understand this conversation. …” – Andrew Ross Sorkin I hope the [...]
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