Greece’s pensioners to suffer MORE: Europe demands austerity as debt hits £268 BILLION

Desperate people campaign outside the Hilton hotel as the monied hold talks about their lives

Desperate people campaign outside the Hilton hotel as the monied hold talks about their lives

 

GREEK politicians are being told to go after the country’s already squeezed pensioners as it faces yet more austerity measures.

Germany and the International Monetary Fund (IMF) have failed to make an agreement over the conditions of a new bail out package.

And while the country’s debt bubble continues to mount, as it tries to cope with the migrant crisis from 2015, its citizens are being penalised. Continue reading

MAPPED: Shocking march of the far-right across Europe as migration fears reach fever pitch

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A map of countries where the far-right have made gains

 

 

FAR-RIGHT parties are on the march across Europe as the unprecedented migrant crisis gripping the continent fuels a surge in support for nationalist movements.

This shocking map shows how anti-immigration campaigners have enjoyed huge gains in this year’s elections, whilst thousands have taken to the streets to protest against the overwhelming influx of migrants and refugees.

From Greece to Germany and Switzerland to Sweden, far-right protestors and parties have stormed the mainstream of European politics as voters rebel against years of predominantly socialist rule.

Continue reading

Germany Snatches Gold from Cyprus

Just when it appeared the news cycle had moved on from Cyprus, the island nation came splashing back yesterday with news from the European Commission: Nicosia will be made to sell around three quarters, or €400 million (US$5.2 million), of its excess gold reserves. (“Excess?” Who has too much gold?)

What’s the big deal? ask some. When a person or nation is in a financial pinch, assets have to be liquidated.

True. But with Cyprus it’s not that simple. From the outset of this crisis, Cyprus has not been in control of its own destiny. Sure, Cypriot President Nicos Anastasiades was in on most, though apparently not all, of the discussions. Cyprus’s parliament voted on this and that, and ultimately “agreed” to the bailout agreement. But it was all smoke and mirrors. In the end, Cyprus was compelled to agree to a ruinous bailout package created and prescribed by Germany in consort with the European Commission, the European Central Bank (ECB) and International Monetary Fund. Now we learn from the Trioka that as part of the bailout agreement, Cyprus will have to sell the majority of its gold.

The important point to note is that this decision was effectively made by Germany and its ECB/EC/IMF allies, AND NOT CYPRUS. Continue reading

Greece secures new bailout, but recovery still in doubt

One month’s worth of funding is all this is good for. Another five ‘bailouts’ won’t make a difference. Greece is on borrowed time, literally. They will either default in orderly fashion or capitulate sovereignty in exchange to stay afloat, effectively becoming a German satellite nation.

Eurozone finance ministers have approved a new EUR130-billion bailout package for Greece. While the fund allows the country to meet debt payments next month, analysts say the threat of Greek bankruptcy remains.

“This deal is coming with very strong strings attached. Greece will now be put under very strict surveillance,” said FRANCE 24 journalist Frederic Simon by phone from Brussels. “A mechanism is being put in place to monitor each and every installment which is going to be disbursed under this new programme.”

“Effectively this means Greece is being placed under some sort of international trusteeship. This is the price that Athens has to pay to avoid bankruptcy,” Simon said.

Full article: Greece secures new bailout, but recovery still in doubt (France 24)