FRANKFURT (Reuters) – A group of 25 banks have failed European health checks, while up to 10 of those continue to have a capital shortfall, two people familiar with the matter said on Friday, providing a snapshot of the health of the region’s lenders.
The health checks, led by the European Central Bank, found that banks in countries including Greece, Cyprus, Slovenia and Portugal had fallen short of a minimum capital benchmark at the end of last year and that up to 10 remained in difficulty now, the sources said.
Banks in Spain and France had fared, by and large, better than expected. Continue reading
The condensed video clip can be found on the source link at the bottom of the article.
In an interview with French TV station, says number of Muslims residing in US justifies regarding it as a Muslim Country
A few days ago President Obama, in an interview he gave France’s Canal+ TV Channel, said that the American people need to be better educated about Islam, since US could and should be regarded as a Muslim country. He said that the number of Muslims residing in the US makes it “one of the biggest Muslim nations”.
‘The forces of monetary deflation are gathering. Global liquidity is declining and central banks are not doing enough, either in the West or the East to offset the decline,’ warns CrossBorderCapital
Eurozone fears have returned with a vengeance as deepening deflation across Southern Europe and fresh turmoil in Greece set off wild moves on the European bond markets.
Yields on 10-year German Bund plummeted to an all-time low on 0.72pc on flight to safety, touching levels never seen before in any major European country in recorded history. “This is not going to stop until the European Central Bank steps up to the plate. If it does not act in the next few days, this could snowball,” said Andrew Roberts, credit chief at RBS.
Calls for action came as James Bullard, the once hawkish head of St Louis Federal Reserve, said the Fed may have to back-track on bond tapering in the US, hinting at yet further QE to fight deflationary pressures and shore up defences against a eurozone relapse.
Markets are realising that the five-and-a-half year recovery since the financial crisis may already be over, says Ambrose Evans-Pritchard
Combined tightening by the United States and China has done its worst. Global liquidity is evaporating.
What looked liked a gentle tap on the brakes by the two monetary superpowers has proved too much for a fragile world economy, still locked in “secular stagnation”. The latest investor survey by Bank of America shows that fund managers no longer believe the European Central Bank will step into the breach with quantitative easing of its own, at least on a worthwhile scale.
Markets are suddenly prey to the disturbing thought that the five-and-a-half year expansion since the Lehman crisis may already be over, before Europe has regained its prior level of output. That is the chief reason why the price of Brent crude has crashed by 25pc since June. It is why yields on 10-year US Treasuries have fallen to 1.96pc, and why German Bunds are pricing in perma-slump at historic lows of 0.81pc this week.
We will find out soon whether or not this a replay of 1937 when the authorities drained stimulus too early, and set off the second leg of the Great Depression.
MOSCOW, October 14 (RIA Novosti) – US authorities have asked the government of Spain to allow over 3,000 American soldiers returning from Ebola-stricken West Africa to stay in the Spanish military bases, a spokesperson for the Spanish Defense Ministry told RIA Novosti.
According to the spokesperson, the motion has already been sent to the authorities of Spain, who have not yet confirmed whether or not the offer will be accepted. Continue reading
Just as ISIS had warned, Americans are foolish:
“The West are idiots and fools. They think we are waiting for them to give us visas to go and attack them or that we will attack with our beards or even Islamic outfits,” said one.
“They think they can distinguish us these days – they are fools and more than that they don’t know we can play their game in intelligence. They infiltrated us with those who pretend to be Muslims and we have also penetrated them with those who look like them.”
They will not be dressed looking like the stereotypical muslim. They will not be bearded. They will also likely not carry muslim names or look like they’re from the Middle East, rather have names like David and have a normal 9-to-5 job. They might even be female. They will have American passports as well. They are already in America.
Don’t think it’s possible to sneak a nuke, or even a bio WMD, into the U.S.? Just remember what JFK said.
America now in ‘most dangerous position we’ve ever been in’
The ranking Republican on the Armed Services Committee in the U.S. Senate is warning that ISIS terrorists, those who this week beheaded an American journalist, are trying to develop the capability of blowing up an entire American city.
He said the U.S. now is in “the most dangerous position we’ve ever been in.”
Responding to questions about terror and the threat facing Americans, he said: “They’re crazy out there. And they are rapidly developing a method of blowing up a major U.S. city. You just can’t believe that’s happening.” Continue reading
Radical Muslims in Spain have launched a social media campaign aimed at generating support for the jihadist group Islamic State [IS].
The campaign involves posters that include images of famous Spanish landmarks and monuments emblazoned with Arabic slogans such as, “We are all the Islamic State” and “Long Live the Islamic State.”
One poster includes an image of the medieval Islamic Aljafería Palace in the Spanish city of Zaragoza and the black flag associated with the IS. Another uses an image of the famous La Concha beach in the Basque city of San Sebastián. Yet another includes an image of the statue of Jesus Christ on Monte Urgull in San Sebastián, with the Arabic words “Al-Andalus Country” instead of “Basque Country.”
Al-Andalus is the Arabic name given to those parts of Spain, Portugal and France that were occupied by Muslim conquerors (also known as the Moors) from 711 to 1492. As the Basque Country is surrounded by mountains, however, the Moors never succeeded in occupying it.
The poster campaign comes after IS jihadists produced a video in which they vow to liberate al-Andalus from non-Muslims and make it part of their new Islamic Caliphate.
The video shows a jihadist speaking in Spanish with a heavy North African accent. He says:
“I say to the entire world as a warning: We are living under the Islamic flag, the Islamic caliphate. We will die for it until we liberate those occupied lands, from Jakarta to Andalusia. And I declare: Spain is the land of our forefathers and we are going to take it back with the power of Allah.“
Spain’s public debt has topped one trillion euros ($1.3 trillion) for the first time, the central bank announced Thursday, despite years of government-imposed austerity.
The nation’s accumulated public debt mushroomed to 1.007 trillion euros at the end of June from 996 billion euros a month earlier, the Bank of Spain said in a report. Continue reading
The 65,000-ton Royal Navy aircraft carrier Queen Elizabeth, launched by Her Majesty on July 4 and praised as “a national instrument of power,” is in fact “a ship with no real purpose other than to act as the monument to yet another failed dream of EU integration,” according to historian and journalist Christopher Booker.
Even before the launch, there were questions raised over the ship’s purpose. No aircraft will be able to fly off it until 2020. Despite a vast flight deck, it is not designed to handle fixed-wing aircraft, only the American-built vertical take-off F35, which is still in development with chronic design problems.
The F-35 seen on board the ship at the launch was in fact a fibre glass replica, a plastic kit plane defence giant Lockheed Martin assembles for air shows and exhibitions.
Other questions have been raised that HMS Queen Elizabeth should be nuclear powered like American aircraft carriers, not by diesel and gas. More, the Royal Navy no longer has enough surface craft to provide escort for an aircraft carrier. Continue reading
WASHINGTON – U.S. and European energy companies have become the target of a “Dragonfly” virus out of Eastern Europe that goes after energy grids, major electricity generation firms, petroleum pipelines operators and energy industrial equipment providers.
Unearthed by the cyber security firm Symantec, Dragonfly has been in operation since at least 2011. Its malware software allows its operators to not only monitor in real time, but also disrupt and even sabotage wind turbines, gas pipelines and power plants – all with the click of a computer mouse.
The attacks have disrupted industrial control system equipment providers by installing the malware during downloaded updates for computers running the ICS equipment. Continue reading
The United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin.
According to Trump, the United States is no longer a rich country. “When you’re not rich, you have to go out and borrow money. We’re borrowing from the Chinese and others. We’re up to $16 trillion in debt.”
He goes on to point out that the downgrade of U.S. debt is inevitable.
“We are going up to $16 trillion [in debt] very soon, and it’s going to be a lot higher than that before he gets finished. When you have [debt] in the $21-$22 trillion, you are talking about a downgrade no matter how you cut it.” Continue reading
Your new post-America superpower:
Süddeutsche Zeitung, NDR and WDR have turned up secret documents belonging to the Bundesnachrichtendienst (BND), Germany’s counterpart to the NSA. It seems the BND is jealous of the digital espionage capabilities of the NSA and the U.K.’s GCHQ, and wants to up its game.
The documents warn that, if the BND doesn’t get the €300 million ($409 million) it needs to run expanded surveillance activities until 2020, Germany will fall behind even Italy and Spain in the spook stakes. They also suggest the spies hope to get their funding in the coming weeks. Continue reading
May 13 (Reuters) – People can ask Google to delete sensitive information from its Internet search results, Europe’s top court said on Tuesday.
The case underlines the battle between advocates of free expression and supporters of privacy rights, who say people should have the “right to be forgotten” meaning that they should be able to remove their digital traces from the Internet. Continue reading
The Spanish Government plans to collect data on all of the country’s 34 million bank accounts in what it calls a bid to crack down on money laundering and terrorist activity. But the move has drawn plenty of fire.
Spain plans to set up a German-style archive of data on the financial activity of Spaniards and residents in Spain, national daily El País reported on Sunday
The move will see banks having to supply details of all the personal and business current accounts, savings accounts and fixed-term accounts they hold to the Secretary of State for the Economy.
Groups including the Tax Office, the military, the General Council of the Judiciary and the secret services will then be able to access that information.
Transactions over €1,000 ($1,370) will be flagged if suspicious, while all transactions over €30,000 can be checked. Transfers of over €3,000 a month will also come under the spotlight, according to the new rules. Continue reading
The great mystery is why the voting public of debtor states continue to put up with an arrangement that ensures years of mass unemployment
If Europe’s elites seem nonchalant about the deflation threat staring them in the face, it is because they do not share the Anglo-Saxon and Japanese orthodoxy that letting it happen is an unforgivable policy failure.
The handful of officials calling the shots at the European Central Bank and Germany’s finance ministry — with applause from Italy’s hard-money “Bocconi Boys” and Spain’s “Austrian School” ultras — do not think deflation would be traumatic even if it were to happen. Some rather like the idea.