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Berlin. After initial reluctance, leaders of the major parties are now warning of the anti-euro party AFD.
“This is very dangerous,” said SPD Chancellor candidate Peer Steinbrück “… the AFD play with prejudice and resentment in a time of further European integration was necessary.”
Drastically also commented Foreign Minister Guido Westerwelle. “Are we really mad that we apply what has been built over decades, want to tear in a year?”
http://www.handelsblatt.com/politik/deutschland/alternative-fuer-deutschland-anti-euro-partei-bringt-spitzenpolitiker-in-rage/8218226.html
http://translate.google.de/translate?sl=de&tl=en&js=n&prev=_t&hl=de&ie=UTF-8&eotf=1&u=http://www.handelsblatt.com/politik/deutschland/alternative-fuer-deutschland-anti-euro-partei-bringt-spitzenpolitiker-in-rage/8218226.html
Angela Merkel, Germany’s chancellor, is facing fresh scrutiny over her political activities in the former East Germany, with a book alleging she took part in the Communist regime’s propaganda activities.
Read more:
http://www.ft.com/intl/cms/s/0/49513cf0-bbe8-11e2-a4b4-00144feab7de.html#axzz2TE50YHVa
Senior MPs called on David Cameron to consider stripping the boss of Google from his role as a government adviser tonight after he suggested that his company’s contribution to the British economy was more important than paying its fair share of tax.
Politicians from all three parties rounded on Google’s executive chairman, Eric Schmidt, after he defended its use of loopholes to minimise its UK tax bill. He insisted that Google [...]
Britain has been stripped of its AAA credit rating by a second rating agency as a result of poor growth.
by Philip Aldrick, The Telegraph:
Fitch joined Moody’s in downgrading the UK to AA+ “to reflect a weaker economic and fiscal outlook” that has caused both the budget deficit and national debt to soar above earlier forecasts.
It means that only Standard & Poor’s has the UK on the top rating, albeit on “negative outlook”.
The downgrade was [...]
Helmut Kohl, Germany’s former chancellor, has admitted that he acted like a “dictator” to bring in the single currency to the country, otherwise he “would have lost” had he held a referendum.
In an interview conducted for a journalist’s PhD thesis, Germany’slongest-serving postwar chancellor said that he would have lost any popular vote on the euro by an overwhelming majority.
“I knew that I could never win a referendum in Germany,” he said. [...]
Organizers of the University of Tennessee’s first-ever “Sex Week” will have to find a new source of funding after embattled university officials reversed course and announced they will not fund the controversial program with state tax dollars.
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“We support the process and the students involved, but we should not use state funds in this manner,” Chancellor Jimmy Cheek said in [...]
Together with the Bank of England, Osborne’s belief that cheap money and ultra-low rates are the only way forward has helped prop up tens of thousands of “zombie” firms, delaying the economy’s readjustment.
by Allister Heath, The Telegraph:
He could have been referring to British economic history, and to the increasingly depressing similarities between Chancellor George Osborne’s failure to get to grips with the economy and that of his Tory predecessor in the [...]
Moody’s strips U.K.’s coveted AAA rating
Moody’s announced on Friday night that it had cut the Government’s bond rating one notch from ‘Aaa’ – the highest possible level – to ‘Aa1’.
The move is a significant setback for Chancellor George Osborne, who has faced criticism that his strategy for dealing with UK’s huge debt burden is failing to deliver.
Moody’s pointed to “continuing weakness in the UK’s medium-term growth outlook, with a period [...]
James Hurley
London Telegraph
February 22, 2013
Moody’s announced on Friday night that it had cut the Government’s bond rating one notch from ‘Aaa’ – the highest possible level – to ‘Aa1’.
The move is a significant setback for Chancellor George Osborne, who has faced criticism that his strategy for dealing with UK’s huge debt burden is failing to deliver.
Moody’s pointed to “continuing weakness in the UK’s medium-term growth outlook, with a period of [...]
Heather Stewart
The Guardian
February 10, 2013
The super-rich – the top 1% of earners – now pocket 10p in every pound of income paid in Britain, while the poorest half of the population take home only 18p of every pound between them, according to a report published this week by the Resolution Foundation thinktank, which reveals the widening gap between those at the very top and the rest of society.
Inequality has grown [...]
from FT:
The US (and the rest of the world) can take a lesson on this subject from Angela Merkel. Germany’s chancellor has carefully chosen both her words and deeds throughout the eurozone crisis. That strategy has helped keep negotiations on track while she maintains healthy approval ratings at home. Those who draw lines in the sand put their own credibility at risk. Read more
Osborne warned his slow economic growth could mean another SIX years of cuts and VAT rising to 25%
Institute for Fiscal Studies delivers alarming assessment of the Chancellor’s economic plan
More pain to come after growth proved more sluggish than predicted
Austerity may have to last until 2018 or impose an extra £23billion of cuts by 2015-16
Mr Osborne urged to ditch target for debt to be falling by 2015
The era of austerity could [...]
Last week’s news that the Bank of England had stopped Quantitative Easing early because it was not needed was a load of rubbish. The truth is that it was stopped early because MORE COUNTERFEITING WAS NEEDED, and the BOE figured out a way to directly monetize the debt, while out of public scrutiny.
QE will continue TO INFINITY….AND BEYOND!!! on both sides of the pond.
The MSM story actually comares the practice to Weimar [...]
Germany has stated its exorbitant price for keeping Greece in the euro and agreeing to mass bond purchases by the European Central Bank.
There must be an EU “currency commissioner” with sweeping powers to strike down national budgets; a “large step towards fiscal union”; and yet another EU treaty.
Finance minister Wolfgang Schaeuble dropped his bombshell in talks with German journalists on a flight from Asia, and apparently had the blessing of [...]
Britain could suffer a triple dip recession next year because of the ongoing Eurozone crisis.
Leading economists have warned a Greek exit from the EU could plunge the UK into financial chaos next Spring, following a brief recovery from the Olympics.
The triple dip would be unprecedented and could threaten Britain’s AAA credit rating.
The news will no doubt pile more pressure on Chancellor George Osborne who has been criticised for making too [...]
Students who misbehave in New York City’s schools are facing leaner penalties this school year, particularly if they smoke, curse or cut class.
Hoping to result in fewer suspensions for students in grades kindergarten through 12th, the city’s updated discipline code has been relaxed on what constitutes out of classroom punishment.
‘Our goal is to make sure the schools are providing a safe environment for our students, but also we just don’t [...]
https://twitter.com/zerohedge/status/238980359440695296
The market was just starting to digest the schizophrenic Durable Goods data when chatter broke of the German FINMIN discussing a ‘temporary’ GRExit. In other words, just like Mario Draghi could transmogrify the twilight zone into reality during Merkel’s vacation, and spread unfounded rumors that Europe is fine, now that the Chancellor has returned, the rumors take on the other side of the equation, and the mice no longer can [...]
Cabinet consider buying remaining 18% of bank for £5 billion
They could then control how much it lends and offer more cash
George Osborne is opposed but Vince Cable and others keen to control its loans book
David Cameron and his cabinet colleagues have discussed fully nationalising the Royal Bank of Scotland because they are angry about how little British banks are lending.
Senior members of the Coalition want to buy out the remaining [...]
Manzeena Iqbal
News10.net
August 1, 2012
The UC Davis officer accused of pepper spraying 11 student protesters in November no longer works on the police force.
Spokesperson for the UC Davis Chancellor Barry Shiller said John Pike’s employment ended on July 31, 2012.
Shiller released the following statement:
Consistent with privacy guidelines established in state law and University policy, I can confirm that John Pike’s employment with the University ended on July 31, 2012. I’m unable [...]
These are stories Report on Business is following Wednesday, July 18, 2012.
Follow Michael Babad and the Globe’s top business stories on Twitter.
Now she tells us
Germany’s Angela Merkel says she’s optimistic the euro zone can be saved, but she’s not so sure of that.
In an interview posted on the website of the chancellor’s Christian Democratic Union today, Ms. Merkel said the leaders of the European project have to keep at it, but [...]
Despite assurances that “we always get the majority we need” by Frau Merkel, the FT reports that the Bundestag’s vote this Thursday (expected to come down in favor of the bailout) will not gain the so-called ‘Chancellor’s majority’. While she retains an overall majority of 19 (from the ranks of her own Christian Democratic Union, its Bavarian sister party, the Christian Social Union, and the liberal Free Democratic party in her coalition), [...]
were in power, he says.
12.45pm: Osborne says it is hard to estimate how much the interest-rate manipulation cost consumers.
12.44pm: David Ruffley, a Conservative, asks how many other banks are under investigation.
Osborne says RBS and HSBC are under investigation. But other, foreign banks are being investigated too.
12.42pm: Alistair Darling says he thinks Osborne is kidding himself if he thinks the UK is the only country where this happened. [...]
Pleas from Spain and Italy for urgent financial aid from the eurozone to bring down borrowing costs were dismissed by Angela Merkel as divisions hardened on the eve of a critical summit.
Germany’s Chancellor angrily rejected desperate pleading by Italy and Spain as a Franco-German rift over eurozone debt sharing threatened to unravel efforts to find a fix for the single currency at a meeting of European leaders on Thursday.
Before flying [...]
David Cameron has been warned by one of the country’s leading bankers that the biggest threat to the City is the possibility of Britain leaving the European Union.
Peter Sands, the chief executive of Standard Chartered, had a breakfast meeting with the Prime Minister on Monday during which he is understood to have raised concerns over a British breakaway.
The warning was sounded amid growing calls from Conservative MPs for Britain to [...]
The Bank of England is to offer money to high-street banks to kick-start mortgage and small business lending to prevent loans being rationed for many families and entrepreneurs, the Chancellor announced.
It comes after sharp rises in the costs of mortgages and other loans in recent months as banks struggle to raise money in the midst of the single currency crisis.
Sir Mervyn King, the Bank of England Governor, said that the [...]
Germany’s chancellor has stood firm against proposals to introduce jointly-issued debt and she reitereated her opposition on Saturday, saying that “under no circumstances” would she agree to Germany-backed eurobonds.
http://www.telegraph.co.uk/finance/financialcrisis/9307920/Angela-Merkel-and-Mario-Monti-clash-over-eurobonds.html
The Bank of England is poised to cut interest rates or launch another round of quantitative easing if the euro collapses, it emerged on Monday.
A senior official for the Bank said the measures would “again play [their] part in mitigating the impact” of Greece or other countries leaving the single currency.
The comments come after the head of the IMF suggested last week that British interest rates may have to be [...]
Audiences at a graduation ceremony were left aghast when Congressman Barney Frank told a black degree recipient that his graduation gown finally gave him a hoodie that he could wear ‘and no one will shoot at you’.
The Democrat made the controversial remarks while speaking at the University of Massachusetts Dartmouth graduation on Sunday.
Frank was one of two people to receive the Chancellor’s Distinguished Service Medal at the event.
Scroll down for video
Shock: While [...]
From FT:
Germany refused to share the debt burden of stressed eurozone peers on Tuesday, ignoring two of the most influential international economic bodies which offered support for proposals championed by Paris, Rome and Brussels ahead of a summit.
Angela Merkel, Germany’s chancellor, has argued that any co-mingling of eurozone debt would remove incentives for southern economies to adopt structural reforms. The calls from the International Monetary Fund and the Organisation for Economic Co-operation and Development came on [...]
From FT:
François Hollande grabbed victory in the French presidential election on Sunday, defeating Nicolas Sarkozy, who became the latest victim of an anti-incumbent backlash that has felled leaders across the eurozone.
The 57-year-old Socialist leader, whose cheering supporters flooded on to the streets around the Bastille monument in Paris to celebrate the first presidential win for the left since 1988, said his election signalled a hope for Europe that “austerity does not have to be [...]
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