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Euro-zone countries will absorb up to €77 Billion in direct losses if Greece leaves the euro-zone and defaults on its remaining debt, German Magazine Wirtschafts Woche reported on Saturday. According to the report, Germany alone will absorb up to €77 billion in losses; this amount has been calculated by adding Germany’s losses from its bilateral aid loans with Greece to its share of loses to the European Central Bank (ECB), theInternational Monetary Fund (IMF), [...] by The Economic Collapse A lot of people were puzzled about what German Chancellor Angela Merkel meant when she recently stated that the ultimate solution to the financial crisis in the EU would “mean more Europe, not less Europe”. Well, now we are finding out. A leaked internal German government memo entitled “The Future of the EU: Required Integration Policy Improvements for the Creation of a Stability Union” actually proposes the creation [...] by ZH Wondering why the EURUSD is surging once again and is now on its way to 1.45? Because as Sarkozy just said Europe is preparing to launch a European Monetary Fund, which would be used to recapitalize insolvent banks and bankrupt countries. In other words Europe just passed its own TARP and trillions and trillions more of taxpayer money about to be sunk down the [...] http://www.epi.org/publications/entry/webfeatures_viewpoints_global_strat_labor/ “The overwhelming majority of people in this world must work in order to live. The definition of Labor in the global marketplace includes those who are unionized and those who are not. It includes those who work in cities and those who work on farms. It includes those both in the formal and informal sectors. It includes those who work at home and small business people [...] |
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