Several Western countries issued travel warnings for Greece on Sunday, as the Greek government shut down all banks and imposed capital controls following the breakdown of talks between Athens and the European Union. British and American citizens traveling or living in Greece were advised to have enough cash on hand, as ATMs were quickly running out of currency. In a late-night televised address to the nation, Greek Prime Minister Alexis Tsipras said banks would remain closed until July 6 –the day after Greeks vote in a nationwide referendum on whether to accept the bailout terms proposed to Greece by its creditors. Police tightened security around ATM machines, as lines were reportedly formed in petrol stations in the capital. Continue reading
The possibility of Britain leaving the European Union sometime in the future worries European bankers a great deal more than the prospect that Greece might be on its way out soon.
Britain’s inclusion in the EU is more important to the bloc’s long-term future than whatever happens to Greece, bankers attending a financial industry conference said, even as last-ditch talks aimed at keeping Greece solvent and avoiding a possible exit from the euro zone rumble on in Brussels. Continue reading
This is how the Fourth Reich is coming to be. If you’re still looking for Nazis, you’re 70 years too late. The German hegemony is conquering through other means.
“You have not anchored Germany to Europe,… You have anchored Europe to a newly dominant, unified Germany. In the end, my friends, you’ll find it will not work.“
– Margaret Thatcher
How right she was.
This video below may help one to understand some of the seemingly obtuse demands from the Troika with regard to Greece.
The video is a bit dated, but the debt scheme it describes remains largely unchanged. The primary development has been the creation of an experiment called the European Union and the character of the targets. One might also look to the wars of ‘preventative intervention’ and ‘colour revolutions’ that raise up puppet regimes for examples of more contemporary economic spoliation.
London: Germany has disclosed that it is making contingency plans for Greece to leave the euro as “make or break talks” are expected to end without agreement.
Wolfgang Schaeuble, Germany’s finance minister, said he was not hopeful that Greece and its creditors would reach agreement on the release of new bail-out funds.
With Greece set to default on a US$1.1 billion ($1.4 billion) debt repayment, Mr Schaeuble said that Angela Merkel’s government was making emergency plans for the country’s exit from the eurozone. Continue reading
The country’s room to manoeuvre really is almost gone
Greece is on the brink of crashing out of the eurozone. So what’s new? Haven’t we been reading headlines like that for the past three years. Continue reading
German tanks are rolling into Poland as part of a major Nato exercise as the US mulls over whether to deploy heavy weaponry in eastern Europe.
With its own currency, Greece would be able to support its banking system and even engage in QE
It is widely accepted that a return to the drachma, involving a major fall in the exchange rate, would, on average, impose heavy costs on ordinary Greeks. This may indeed be widely accepted, but it happens not to be true.
There is a serious lack of understanding of the economics of devaluation – even in some surprisingly high places. What passes for wisdom on the subject is heavily influenced by the experience with fixed exchange rates, which the UK, and most of the world, gave up in 1971-72. In the classic cases, when countries resorted to devaluation it was because of a “balance of payments” crisis, an excess of imports over exports.
The retrenchment of U.S. foreign policy under Barack Obama is triggering major changes in relations with formerly stout allies around the globe.
In Europe, Asia and the Middle East, trust in the Obama administration among U.S. allies is at an all-time low and reflected in numerous policy decisions, undermining one the America’s most important foreign policy assets.
For the United States, relationships with the United Kingdom, Japan and Israel have plummeted. The result is the pursuit by these nations of policies that are much less supportive than in the past of U.S. leadership and foreign policy priorities.
In the United Kingdom, David Cameron and his Conservative Party have just won re-election by a surprisingly large margin. The prime minister’s relationship with President Obama is best described as “proper” but there are no close personal ties like those that marked relationships between past U.S. presidents and UK counterparts. Continue reading
RUSSIA is likely to have gathered “valuable intelligence” on Britain’s nuclear programme which could put us at risk of attack, senior RAF officials have warned.
This has given opportunities for “intruders” which could “prejudice the security and effectiveness” of Trident, they said.
In a letter to a newspaper, the officers wrote: “The need to reintroduce Maritime Patrol Aircraft (MPA) into the British frontline is now widely recognised.
A senior official at the Bank of England “inadvertently” sent research assessing the economic dangers of the UK leaving the European Union to an editor at a national newspaper.
The Bank was left in an embarrassing situation on Friday after it accidentally emailed details – including how to fend off inquiries related to the report – directly to the Guardian newspaper.
A Bank spokesperson said that the error was “unfortunate”. Continue reading
AEROSPACE giant Airbus has warned it will reconsider investing in the UK if Britain voted to leave the European Union.
UK boss Paul Kahn said he thought it was “vital” firms took a view on a possible “Brexit” following a promised in-out referendum on EU membership.
The move could put 17,000 UK Airbus jobs at risk, including 4,000 in Filton, near Bristol, and 6,000 at its wing-manufacturing plant in Broughton, north Wales. Continue reading
Bank reported to be investigating how it would move operations back to Germany if referendum results in split from European Union
Deutsche Bank would consider whether to relocate some of its UK operations if Britain left the EU, according to reports.
The German lender is said to have established a working group to assess the consequences of a possible “Brexit” following an in/out referendum that David Cameron has pledged to hold by 2017. Continue reading
A RUSSIAN jet came just feet from crashing into a US military plane – avoiding what could have been a devastating mid-air collision.
The Russian Su-27 fighter jet targeted the US reconnaissance aircraft over the Baltic Sea in April – narrowly missing it by 20ft.
A research group has reportedly recorded dozens of similar encounters between Russian fighter jets and Western planes since the Russian annexation of the Crimea in March 2014.
Gordon Brown… arguably Great Britain’s first Communist Prime Minister.
James Gordon Brown is a British politician who was the Prime Minister from June 2007 to May 2010 of the United Kingdom of Great Britain and Northern Ireland. Gordon has floated the Marxist Balloon for all we hear about now is eliminating physical money. Those who have ever worked in government NEVER see themselves as the problem – it is always us. So what is the Marxist Balloon? People not immediately in power float an idea so the government can gauge how the press and the people take it. If it goes badly, they say he is speaking personally. If it is not attacked, they float the policy. This is what Gordon Brown has just done. Continue reading