Report: Iran special forces suffering heavy losses in Syria

More than 30 soldiers from an elite brigade of Iranian commandos were killed in battle in Syria just days after being deployed, reports say.

Senior commanders from Iran’s special forces Brigade 65 were among those killed, according to unofficial Syrian reports. Continue reading

Grexit to Create Huge ‘Holes’ in German Budget – German Newspaper

Finance Minister Schäuble earlier asserted that the Greek crisis will have no serious consequences for the federal budget. However, President of the German Federal Bank Jens Weidmann views the situation in a different way.

Greece’s withdrawal from the Eurozone is likely to create huge ‘holes’ in the federal budget planned by German Finance Minister Wolfgang Schäuble (CDU). Continue reading

Cyprus bail-out: savers will be raided to save euro in future crises, says eurozone chief

If it can happen in Cyprus, it can happen across more European nations as the EU and its ‘troika’ set a precedent by changing its own rules. What’s more is that if it can happen in Europe, it can happen in the United States.

Savings accounts in Spain, Italy and other European countries will be raided if needed to preserve Europe’s single currency by propping up failing banks, a senior eurozone official has announced.

The euro fell on global markets after Jeroen Dijsselbloem, the Dutch chairman of the eurozone, announced that the heavy losses inflicted on depositors in Cyprus would be the template for future banking crises across Europe. Continue reading