ATHENS, Greece (AP) — A lawmaker from Greece’s extreme-right Golden Dawn party allegedly tried to punch the mayor of Athens on Thursday, swinging at him but reportedly missing and hitting a 12-year-old girl instead.
The confrontation came hours after police used pepper spray to prevent the nationalist party from distributing free food to Greek citizens only in the city’s main Syntagma Square in defiance of a municipal ban the [...]
90% supply reduction; citizens in near-panic
Feb 28, 2013
In a classic example of an anti-free-market collapse, fifty pharmaceutical companies are now halting supplies of drug medicines to the nation of Greece, causing severe shortages of over 200 popular pharmaceutical medicines there. Pfizer, Roche, GlaxoSmithKline, Sanofi and many other have all reportedly joined in the partial embargo out of a fear that the low-priced drugs sold to Greece would be [...]
Greece is voting on midnight. Tommorow the E.U. us going to hold talks and Troyka included to let Greece fall out of the E.U. more to update @ midnight.
In Athens, thousands of demonstrators gathered in anticipation of a new vote on the budget for next year. The mood around midnight. Wednesday pulled a proposal cuts and tax increases anarrow majority . It is expected that the vote on the cuts in pensions and [...]
In the mountains of northern Greece lies an $800 million power plant whose future may help determine whether the country can salvage its euro status.
The facility near Florina, a town known as “Where Greece Begins,” is the most modern of four production units that state-controlled Public Power Corp. SA (PPC) is scheduled to sell to competitors to meet four-year-old European Union demands that the country deregulate its energy market. The [...]
AFP - Greece on Monday said it was reviving efforts to conclude an accord with Switzerland in order to tax Greek bank account holders there, as central bank data showed a large outflow of deposits abroad.
“The Swiss government has been asked to reactivate the process to sign an accord between the two countries on the taxation of deposits and other instruments maintained by Greek citizens in Swiss banks,” the finance ministry [...]
The Greek Coalition of Radical Left, SYRIZA, makes a very good chance on Sunday to win the elections. And when that happens, the euro is really the dupe . Says not only we, but also Super Investor George Soros and IMF mistress Christine Lagarde. That Radical Link Sers appears in fact to be just brutal Nazis. Who live awfully in 1939. They say themselves.SYRIZA is in fact not going to even a single cent to repay the [...]
June 14, 201211:40AM
NERVOUS Greeks are withdrawing up to 800 million euros ($1.01 billion) a day and stocking up on canned food as they fear the country will be forced to leave the eurozone after this Sunday’s election.
Greek retailers say consumers are stocking up on non-perishable foods like pasta and canned goods.
Greek citizens fear the ramifications of a return to the country’s previous currency, the drachma, if the radical left-wing party [...]
Published on May 31, 2012 by RussiaToday
Watch the full Keiser Report E295 later today!
In this episode, Max Keiser and co-host, Stacy Herbert, discuss the tax-free living Christine Lagarde, an unelected official, waving the flag for French banks while harassing Greek citizens while Silvio Berlusconi’s ‘pleasure chest’ drives up the bunga bunga market. In the second half of the show Max talks to Hugo Salinas Price who appeals to Alexis Tsipras to propose [...]
From Zero Hedge:
What is it about IMF heads and inserting foot or some other appendage in mouth, or some other orifice?
The Forelash (sic): It’s payback time: don’t expect sympathy – Lagarde to Greeks
Using some of the bluntest language of the two-and-a-half-year debt crisis, she says Greek parents have to take responsibility if their children are being affected by spending cuts. “Parents have to pay their tax,” she says.
Lagarde, predicting that [...]
If Greece left the euro, living standards would plummet, incomes would be slashed by more than half, and inflation and unemployment would skyrocket, the National Bank of Greece warned on Tuesday.
In a report released ahead of an election on June 17 that may determine whether the country stays in the single currency, the country’s biggest bank said the risk of Athens exiting the euro was no longer just a theoretical possibility, warning [...]
Questioned about Greek crisis head of IMF said country can help itself collectively ‘by paying all their tax’
Suggests that IMF’s money would be better spent on African children than on people in Athens
Lagarde takes home £298,675-a-year untaxed
Receives further tax-free allowance package of £52,000
The head of the International Monetary Fund who controversially proposed that struggling Greeks should pay taxes contributes nothing herself to the public purse.
Christine Lagarde openly criticised citizens of [...]
by Tyler Durden
We have spent a considerable amount of time in the last week or two explaining just why depositor withdrawals (or bank runs) are the death knell for the Euro experiment. We first described the ‘run on banks and governments’ on the basis of the potential for overnight loss of ‘fungibility’ back in December but the escalation last week in Greece (and the contagion to Spain’s Bankia) signals things are shifting to 11 on [...]
The Economic Collapse
Wednesday, May 16, 2012
The bank runs that we are watching right now in Greece are shocking, but they are only just the beginning. Since May 6th, nearly one billion dollars has been withdrawn from Greek banks. For a small nation like Greece, that is an absolutely catastrophic number.
At this point, the entire Greek banking system is in danger of collapsing. If you had money in a Greek bank, why [...]
by Simone Foxman
Markets have been relatively calm recently after some unprecedented actions by the European Central Bank and headlines appearing to confirm that Greece is likely to get its second bailout.
However, that second point is still arguable—and will likely be decided on March 12.
That’s the deadline for private sector bondholders to register to take part in the bond swap deal, determining the level of participation and whether or not Greece will go through [...]
I wasn’t aware of this significant factor in the run-up of Greece’s debt, but it comes as really no surprise. You just can’t have enough industrial killing machines in your arsenal these days to defend against any and all imagined threats. And the lowly Greek citizens are the ones left holding the debt-ridden bag while the bankers and weapons manufacturers unload their wares on the next “sinkhole of war-profiteering.”
Cockburn follows up with a [...]
Today Art Cashin told King World News that we are witnessing a slow motion bank run in Greece. Cashin, who is Head of Floor Operations at UBS, also said it needs watching because if it accelerates it would be the first sign Greece is going to default. Here is what Art Cashin had to say: “What you are watching, and people always use the example of a slow motion train wreck, [...]
Earlier today, we learned the first stunner of the Greek bailout package, which courtesy of some convoluted transmission mechanisms would result in some, potentially quite many, Greek workers actually paying to retain their jobs: i.e., negative salaries. Now, having looked at the Eurogroup’s statement on the Greek bailout, we find another very creative use of “negative” numbers. And by creative we mean absolutely shocking and scandalous. First, as a reminder, even before the current bailout mechanism [...]
If there is one war that Greece could not afford to join, that is with the global computer hacking collective known as Anonymous. Yet as of minutes ago, that is precisley what happened, after Anonymous, as part of what it now calls Operation Greece, took down the Greek Ministry of Justice (http://www.ministryofjustice.gr/). While the pretext for the hacking appears to have been an arrest of the wrong people, is [...]
With Greek citizens angry over more austerity, some eurozone nations want to delay approval of the second rescue package until the April elections. Photo: EPA
Delays could possibly last until after the country holds elections expected in April, they said
While most of the elements of the package, which will total €130bn, are in place, eurozone finance ministers are not satisfied that Greece’s political leaders are sufficiently committed to the deal, which requires [...]
From Peter Tchir of TF Market Advisors
JPM Buys Greece For $2
While we wait for the antics in Greece to result in some announcement, I can’t help but think about how different the Greek situation is from when JPM bought Bear Stearns (shortly after the last time the Giants won the super bowl).
The “weekend” deadline for Bear was neither artificial, nor self-imposed. Without a deal, Bear would have failed that week [...]
By Szu Ping Chan, and Jasmine Malone
In a country where tax evasion is a way of life, many consider themselves outside the law when it comes to paying.
Figures compiled for The Sunday Telegraph by the world renowned expert Prof Friedrich Schneider of Linz University in Austria show that Greece’s shadow economy – made up of the trade, goods and services, [...]
Are we on the verge of a massive financial collapse in Europe? Rumors of an imminent default by Greece are flying around all over the place and Greek government officials are openly admitting that they are running out of money. Without more bailout funds it is absolutely certain that Greece will soon default on their debts. But German officials are threatening to hold up more [...]
Greeks Turn Savings to Gold and Perth Mint Silver Coin Sales Surge to Record on Haven Demand
Gold is lower in dollars but higher in euros and has reached new record highs in pounds sterling at £958.25/oz. Gold is being supported by strong and increasing demand internationally.
Sterling has fallen after the BoE minutes raised concerns of further quantitative easing and currency debasement. The Bank of England looks [...]
By Larry M. Elkin, CPA, CFPÂ®
Citizens of Germany, Greece and Ireland are all learning an important lesson: When you share a lifeboat with someone, you canâ€™t each go your own way.
Germany is the biggest contributor to the $113 billion bailout that the European Central Bank and the International Monetary Fund cobbled together for Ireland last weekend. The seven-year package of loans, totaling 85 billion euros [...]
The EU spent $1 trillion to save 11 million Greek citizens who spent out their eyes and ears. In reality, they just didn’t want the international banks to take massive hits for hiding losses and once again, shifting losses into the future. Because Greece has over $400 billion in public debt held by external banks which would spark the next wave down, crippling the anemic global economic recovery.
The piper still [...]
Greek Debt Crisis: 7 More Lean Years
By Daily Reckoning on May 3, 2010
Ã¢â‚¬Å“Capital is going on strike,Ã¢â‚¬Â The Richebacher SocietyÃ¢â‚¬â„¢s Rob Parenteau warned us late last week when he swung by our Baltimore offices for a quick interview and update on the crisis. Rob was earlyÃ¢â‚¬Â¦and right on the money with his analysis of the event.
Soon Greek citizens will see their taxes at record highs and public pensions and benefits [...]