Dec 12 09:02

German Lawmakers Urge Merkel to Boost Dwindling Bank Guarantees

German lawmakers today called on the government to top up a 400 billion euro ($531 billion) fund established to guarantee bank loans, as the cash pledge will soon be used up without meeting its goal of reviving interbank lending.

Dec 11 08:05

Police officer charged as Greece falls deeper into turmoil

A fifth day of clashes between youths and police, plus a general strike, plunged Greece deeper into turmoil Wednesday as two policemen were charged over the killing of a teenager that sparked the unrest.

Dec 10 07:45

Clashes, looting rock Greek cities for 4th night

Masked youths and looters marauded through Greek cities for a fourth night Tuesday, in an explosion of rage triggered by the police shooting of a teenager that has unleashed the most violent riots in a quarter century.

The nightly scenes of burning street barricades, looted stores and overturned cars have threatened to topple the country's increasingly unpopular conservative government, which faces mounting calls for Prime Minister Costas Karamanlis to resign.

Webmaster's Commentary: 

It occurs to me that if these riots were happening in Iran or Pakistan, ABCNNBBCBS would be headlining that instead of Blagejevich!

Dec 09 16:02

Greek popular revolt about to topple govt

Dec 09 09:56

U.K. auto-parts maker Wagon reportedly on brink of collapse

One of the U.K.'s largest car-parts groups, Wagon Automotive, was on the brink of collapse this weekend, according to reports in several newspapers.
Administrators are expected to be appointed within days at Wagon, which employs more than 500 in the U.K.
Only the U.K. operation will be put into administration this week, with the fate of European plants still to be decided, reports said.

Dec 04 07:48

Berlusconi plans to use G8 presidency to 'regulate the internet'

Italian president and media baron Silvio Berlusconi said today that he would use his country's imminent presidency of the G8 group to push for an international agreement to "regulate the internet".

Speaking to Italian postal workers, Reuters reports Berlusconi said: "The G8 has as its task the regulation of financial markets... I think the next G8 can bring to the table a proposal for a regulation of the internet."

Dec 01 12:47

Highest tide in 20 years floods historic Venice

Venice could use a bailout. The city built on water has too much of it.

Residents and tourists waded through knee-deep water Monday as they navigated the city's narrow streets and alleys, and its historic St. Mark's Square was inundated. Boxes of tourist merchandise floated inside the flooded shops around the square and even the city's famed pigeons sought refuge on rooftops and windowsills.

One of the highest tides in its history brought Venice to a virtual halt, rekindling a debate over a plan to build moveable flood barriers in an effort to save the lagoon city from high tides.

Nov 25 22:30

New EU President to Lead Us Out of This Mess?

I'm not sure about you, but this seems like a terrific new leader for the EU - an Austrian School economist who believes in liberty and sovereignty, and agrees with the majority of the citizens of the world that all these bailouts are the wrong way to solve problems we are facing.

Nov 19 08:45

Spain 'to slide into recession'

Spain is likely to slip into recession in the fourth quarter and stay there into 2009, Bank of Spain head Miguel Angel Fernandez Ordonez has said.

Nov 18 07:20

Estonian Spy Scandal Shakes NATO and EU

For years an Estonian government official has apparently been collecting the most intimate secrets of NATO and the EU -- and passing them on to the Russians. The case is a disaster for Brussels.

Nov 13 18:50

Garda chief asks mobile phone firm to retain web-browsing data

DETAILED INFORMATION on the web pages people view will be retained for possible future criminal investigations if telecommunications operators comply with a letter from the Garda Commissioner.

The request for real-time web-browsing information - the content or the web address (URL) of every web page browsed by users of mobile handsets, palmtop devices or 3G modems - goes beyond the European Union's data retention directive, which the Government intends to implement as a statutory instrument.

Nov 13 07:25

Germany slides into recession

Germany officially slid into recession today according to economic data showing that Europe's largest economy shrank in the last quarter.

Nov 06 07:36

German Politicians Welcome Obama, Call for Closer Ties to US

Lawmakers in Berlin hope US President-elect Barack Obama will forge closer partnerships with allies than his predecessor. But Europeans expect the cooperation to come with some strings attached.

Nov 06 07:35

EU calls for 'new deal for new world' with Obama

The head of the European Union
(EU)'s executive body, the European Commission, on Wednesday congratulated Barack Obama on his victory in
the US presidential election and called on him to work with the EU to shape a "new deal for a new world".

Nov 05 07:50

Czech opposition demands top court examine U.S. missile deal

The Czech opposition Social Democratic Party demanded on Monday that the Constitutional Court examine the legality of agreements signed with the United States on deploying an anti-missile radar in the country.

The agreement to station a U.S. radar in the Czech Republic was signed on July 8 by U.S. Secretary of State Condoleezza Rice and Czech Foreign Minister Karel Schwarzenberg.

Nov 05 07:49

Germany to Introduce Job Protection Measures

Chancellor Merkel's government is to come up with a stimulus package to help Germany weather the worst of the global economic crisis and secure jobs for nearly 1 million people, the economy minister says.

Nov 05 07:46

Spain offers mortgage relief to 500,000 workers

Oct 30 08:56

Porsche pulls off one of the greatest share killings of all time in $20bn 'sting'

The Sports car giant Porsche has pulled off one of the greatest share killings of all time in a coup that has left some of the world's largest hedge funds nursing combined losses that could total $20bn (£12.6bn).

Oct 30 06:59

Europe's looming crisis

It all started with sub-prime loans in the United States. Or did it? As the IMF is called in to bail out failing economies, the scale of European exposure to toxic debt is becoming clear

Oct 29 14:58

Suspected Georgian war crimes uncovered by the BBC

The British Broadcasting Corporation is reporting that it has obtained evidence suggesting that Georgia may have committed war crimes during its attack on South Ossetia in August. The BBC says it gathered the evidence during the first unrestricted visit to South Ossetia since the conflict.

Describing Georgia’s military assault as ‘reckless’, UK Foreign Secretary David Miliband said he had raised the ‘war crimes’ allegations with the government in Tbilisi.

Oct 26 09:06

EU to "Educate" Irish Voters to Accept Constitution Treaty

Last June, in a national referendum, voters in Ireland rejected the European Union Lisbon Treaty, which was, said opponents, merely a rehashed version of the EU Constitution that had gone down to defeat in 2004. Now, the powers that be in Brussels, headquarters of the European Union, have announced a new effort aimed at "educating" Irish voters for another run at the treaty.

"You will vote for the treaty, dammit!"

Oct 24 14:10

Angela Merkel sees red at Nicolas Sarkozy's plans for state intervention

President Sarkozy is set for a showdown with Angela Merkel today after infuriating the German Chancellor with the launch of a €100 billion (£80 billion) French sovereign investment fund that he exhorted other European governments to copy.

Brushing aside Berlin's qualms, Mr Sarkozy yesterday outlined plans for the fund as part of a programme to strengthen public sector control over private business. He also promised €175 billion of direct state investment in the economy, over and above the sovereign fund, in the next three years.

Oct 24 14:01

Haider widow believes death 'not an accident'

he widow of Joerg Haider believes the far-right Austrian politician's death in a car crash may not have been an accident and has saved his body from cremation for a second post mortem, a Vienna newspaper has reported.

Oct 23 15:18

Dumb and Dumber

Nicholas Sarkozy is now blaming the Irish Prime Minister, Brian Cowen, for igniting a bank deal crisis.
I am Irish and think that the Irish Government plan was about as stupid as you could possibly get but, when Nicholas Sarkozy stands up and pretends to be the bastion of Economic Sagesse, well excuse me, I gotta have my say as this galls me.

Oct 22 08:05

European markets extend losses ahead of Wall Street open, all eyes on corporate earnings

Oct 22 07:46

Bosnia in danger of collapse warn former envoys

Bosnia could disintegrate if the international community does not become more involved in this Balkan nation beset by factional divisions, former peace envoys Richard Holbrooke and Paddy Ashdown warned on Wednesday.

Oct 19 13:04

Russia should join EU, Berlusconi says

Brussels - Russia should be allowed to join the European Union in the coming years, Italian Prime Minister Silvio Berlusconi said Wednesday. "I consider Russia to be a Western nation. So my project is that the Russian Federation should become a member of the EU in the coming years," Berlusconi told Italian reporters on the sidelines of an EU summit in Brussels.

Berlusconi's comments on Russia's EU aspirations were not new, but they nevertheless raised eyebrows in Brussels.

Oct 19 08:51

Another storm is brewing in eastern Europe

Warning lights are flashing in eastern and central Europe, where Hungary and Ukraine are seeking bail-outs from the International Monetary Fund to avoid the turmoil that threatens to bankrupt Iceland

Oct 18 13:01

EU Leaders Call for Global Currency

Kurt Nimmo
Saturday, Oct 18, 2008

If we are to believe the Washington Post, French president and current EU leader Nicolas Sarkozy has pledged to save us from nameless “freewheeling bankers and traders” who get the blame for the current economic crisis.

Oct 17 08:48

European markets tumble as confidence collapses

Oct 17 08:48

Is Switzerland the next Iceland?

In an extraordinary move for a nation proud of its financial prudence and stability, Switzerland was forced to take emergency measures yesterday to shore up its two biggest lenders to prevent a collapse in confidence in the country's banking system.

Oct 17 08:44

EU to bring back customs duties for cereals imports

Oct 12 13:50


From George Ure's

A sharp-eyed reader in Germany is piecing it together this way:

"Hi George,

Cliff's accuracy is amazing! Not only did he predict correctly the current financial crash, but also his prediction of the three unwanted guests is on the spot - at least for one "guest".

He spoke of "an ['accident' (real or claimed)] which causes a [derailing]. This last may be in the political realm."

Oct 09 14:42

Libya halts oil shipments to Switzerland

Libya said Thursday it has halted oil shipments to Switzerland and withdrawn its money from Swiss banks, three months after the arrest of Moammar Gadhafi's son in Geneva sparked a diplomatic crisis between the two countries.

Oct 09 10:09

Iceland bank freeze 'used anti-terror laws'

The UK government implemented anti-terror laws to freeze the estimated £4 billion worth of British financial assets in a failed Icelandic bank, it has been revealed.

The freezing order against Landsbanki, which owns failed internet bank Icesave, was issued under the 2001 Anti-Terrorism, Crime and Security Act.

The move threatens to drag down British-Icelandic relations to their lowest point for over three decades, with Gordon brown announcing legal action against Reykjavik authorities yesterday to recover depositors' money.

Oct 09 08:16

Iceland collapse costs UK billions

DOZENS of British councils risk losing hundreds of millions in taxpayers' money held in Iceland's stricken banks as shockwaves from the tiny nation's financial collapse reverberate across Europe.

As councils across Britain began contemplating the prospect of raising taxes and cutting services to cover their losses, the two countries squared up for a diplomatic row over Iceland's refusal to refund the deposits.

Oct 09 06:21

Italy's Banks May Need More Capital

Oct 09 00:09

I Survived the Georgian War. Here's What I Saw.

08/10/08 "CSM" -- -Tskhinvali, South Ossetia - In a speech before the United Nations last month, Georgian President Mikheil Saakashvili implored world leaders to set up an international investigation to find out the truth about the war in South Ossetia.

I couldn't agree more. But I think the results of an honest investigation would reveal a very different "truth" than what President Saakashvili claims.

Oct 08 08:04

The financial crisis could be the euro's death knell ... and even end the shambolic EU

Webmaster's Commentary: 

National borders serve the same function for planet Earth that fireproof doors do for buildings and watertight doors do for ships. They contain an accident so that the entire structure is not destroyed.

Fools who find opening fireproof or watertight doors inconvenient and jam them open will marvel at their cleverness at how fast people, cargo, and money can move from place to place. But the first time there is a fire, or the ship hits an ice berg, of the greed to those in control of the money gets out of hand, disaster results. Instead of losing a single room, the entire building burns down. Instead of a flooded hold and damaged cargo, the entire ship sinks. And instead of a bankrupt nation, you have a bankrupted Earth.

One world economy and one world government sounds like a nice idea. But there are two things wrong with it. The first is easy to explain; what happens when (not if) that one world government falls into the hands of the next Stalin or Hitler (or Bush)? The second reason is a bit more abstract. As long as their are multiple nations, there will be continuing experiments in new ways to organize and operate a society. But as soon as there is a single global government, all social evolution will stop, as a one world government will work only to perpetuate and prolong its owen reign, secure in its self delusion that it represents the peak of civilization.

Oct 08 07:22

Scandal over informers halts banning of neo-Nazis

Germany's constitutional court rejected an attempt to ban the country's main neo-Nazi party yesterday after learning that the government had relied on evidence supplied by paid secret service informants to incriminate the organisation.

Oct 07 18:52

European Central Bank Sees Crisis Of "Enormous Proportions" As Spain Creates Mortgage Rescue Fund

Oct 07 12:46

European Crisis Deepens; Officials Vow to Save Banks (Update3)

Oct. 6 (Bloomberg) -- The credit crunch deepened in Europe as government leaders pledged to bail out troubled banks and protect depositors.~~snip~~

French President Nicolas Sarkozy, who convened the Oct. 4 meeting, called for a global summit ``as soon as possible'' to implement ``a real and complete reform of the international financial system.'' He said ``all actors'' must be supervised, including credit-rating firms and hedge funds. Executive-pay systems must also be reviewed, he said.

Oct 07 10:39

Credit Crisis Actions Risk Collapse of European Monetary Union

Many of us in the US are focused on our own woes. But this is a global credit crisis. In today's Outside the Box, we take a look at the currency markets, which are in an historic upheaval and also look at what is going on in Europe. I suspect that Europe is in for a period of much distress, as the world begins to deleverage That is why one government after another will back the deposits of banks within their countries, for otherwise capital will flee to countries like Ireland and Germany which ARE guaranteeing the deposits for all banks in their borders. .

Oct 06 19:39

Iceland is on the brink of collapse

Iceland is on the brink of collapse. Inflation and interest rates are raging upwards. The krona, Iceland's currency, is in freefall and is rated just above those of Zimbabwe and Turkmenistan. One of the country's three independent banks has been nationalised, another is asking customers for money, and the discredited government and officials from the central bank have been huddled behind closed doors for three days with still no sign of a plan. International banks won't send any more money and supplies of foreign currency are running out.

Oct 06 11:52

Euro Falls to 14-Month Low as Credit Crisis Spreads to Europe

Oct. 6 (Bloomberg) -- The euro had its biggest one-day drop against the yen since its debut in 1999 as the deepening credit crisis prompted European governments to pledge bailouts for troubled banks while stopping short of coordinated action.

Oct 06 11:48

Germany takes hot seat as Europe falls into the abyss

We face extreme danger. Unless there is immediate intervention on every front by all the major powers acting in concert, we risk a disintegration of global finance within days. Nobody will be spared, unless they own gold bars.

Oct 06 07:50

Never Mind Lisbon, Europe Is Dead

Germany has joined Ireland and Greece in declaring that private citizens’ savings will be protected by the state. In doing so, they seem to have dealt a massive blow to the very foundations of the Tower of Babel that is the Maastricht Treaty. At the very least, they have exposed European monetary union for the joke that it is.

Oct 05 20:07

French to fight police database

Civil liberties groups fear that the new police database, called Edvige, would significantly erode rights to privacy.

Although governments regularly gather and store data about citizens, Edvige would include information about the youngest members of society.

"These people could be filed starting from the age of thirteen with a very large amount of data on their life, on their relatives, on their friends, acquaintance…everything," says Meryem Marzouki from the French National Scientific Research Center (CNRS).

Oct 04 19:02

Europe shivers as credit freeze hits Iceland

Central bankers and officials in Iceland are locked in economic bailout talks this weekend, as Gordon Brown attempts to convince European leaders to back a £12bn fund for small businesses across the Continent.

Oct 04 17:41

Hypo Real fights for life after rescue collapses

Property lender Hypo Real Estate (HRE) (HRXG.DE: Quote, Profile, Research, Stock Buzz) fought for its life on Saturday after German banks and insurers pulled out of a state-led 35 billion euro ($48.5 billion) rescue program stitched together only days ago.

The news is a fresh blow for the global financial system struggling to master an unprecedented crisis of confidence and poses a political challenge for the Berlin government, which has been fighting efforts to arrange a pan-European bank bailout.

Oct 04 08:34

Financial crisis: worse still to come for Europe?

The leaders of Britain, France, Germany and Italy are meeting in Paris to try and forge a common approach to sort out the European economy. But actions from the leaders can’t come soon enough for many European citizens - they’ve been feeling the pinch for a while.

Oct 03 08:37

Merkel says will not issue banks blank cheque

German Chancellor Angela Merkel said on Wednesday her government aimed to limit the damage to the economy from the global financial crisis but she was not prepared to issue a blank cheque to any bank.

Webmaster's Commentary: 

Merkel for President!!!!!!!

Oct 03 07:53

European bank rescue plan in tatters amid savings stampede

By Wednesday, the fury over Ireland's unilateral guarantee was hardening in the City and across Europe. British banks were incandescent with their Irish counterparts, whom they accused of having deliberately exploited the situation to ring up corporate depositors and urge them to defect to “safer” Irish banks.

Webmaster's Commentary: 

"We can screw our people deeper thanb you can screw yours!"

"No you can't!"

"Yes we can!"

"No you can't!"

"Yes we can!"

"No you can't!"

"Yes we can!"

Oct 03 07:24

France seeks €300bn rescue fund for Europe

France heaped pressure on Gordon Brown last night by floating an ambitious plan for a €300 billion (£237 billion) bailout fund to rescue crippled banks across Europe.

Webmaster's Commentary: 

"Hey, those stupid Americans fell for it; we should do the same thing!!"