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BRUSSELS – Iceland’s bid to join the EU is over, the country’s foreign minister told the European Commission on Thursday (13 June). “This is how democracy works,” said Gunnar Bragi Sveinsson, on his first overseas trip, three weeks after being appointed to the recently elected Icelandic government. He pointed out that both parties in the new government had campaigned against EU accession. http://euobserver.com/political/120501 Egypt’s National Salvation Front (NSF) opposition coalition announced Saturday their full support for the anti-Morsi Rebel campaign, saying there is no longer room for negotiation with President Mohamed Morsi. “No dialogue with the Muslim Brotherhood or the regime, our date is 30 June, no going back on early presidential elections and the Egyptian people will decide on the next president,” said former presidential candidate Hamdeen Sabbahi in a press statement. http://english.ahram.org.eg/NewsContent/1/64/73553/Egypt/Politics-/Egypt%E2%80%99s-NSF-No-negotiations-with-Morsi;-will-join-.aspx Muslim Brotherhood [...]
Few food items have enjoyed a more surprising recent resurgence than the savory strips of pig fat known as bacon. It is being wrapped around entrees, used to swizzle cocktails, and even serves as a flavor of ice cream. But now a popular pork-focused restaurant in the Upper Haight must close its doors Friday following months of failed negotiations with neighbors over neighborhood concerns about porcine aroma and grease disposal. Department of [...] From The Independent Voter Network: While his son, Senator Rand Paul, has taken most of the national spotlight away from his father, Ron Paul has not stopped advancing his “Campaign for Liberty.” Ron Paul and his supporters have built up a massive database of “liberty loving” supporters since the organization launched in 2008, following his second campaign for the Presidency. And today, he is calling his supporters to sign a petition against the [...] Pushed by its European creditors amid its crippling economic crisis, Greece began this week to do something it hasn’t done in more than 100 years: fire public-sector workers en masse. Following weeks of tough negotiations with its lenders – the “troika” of the International Monetary Fund, theEuropean Union, and the European Central Bank – the Greek government started laying off public-sector workers in an effort to implement the austerity that the troika has demanded. The first [...] “The man is apparently armed with a switchblade, machete and Molotov cocktail, according to the page. A command post is being set up in the parking lot of the Family Pharmacy on Brighton Avenue and an abandoned gas station. Area roads have been closed down, according to the Breaking News Network. According to the network, police are setting up a no-fly zone over the city at this time. Negotiations are ongoing.” http://www.app.com/article/20130422/NJNEWS14/304220083/Long-Branch-standoff?odyssey=mod%7Cbreaking%7Ctext%7CFrontpage&nclick_check=1 Cyprus told: take bank levy or leave euro President, eurozone finance ministers and bailout troika hold emergency meeting as €100 limit imposed on ATM withdrawals Wealthy Russians stand to lose billions of euros in Cypriot banks under draconian terms being hammered out on Sunday night in Brussels to prevent the Mediterranean tax haven becoming the first country forced out of the single currency. Negotiations got underway [...] The ministry of finance issued a decree declaring Thursday and Friday as bank holidays. As Monday is also an established holiday, banks will re-open on March 26. The government hopes that by that time it will be able to work out a way of raising 5.8 billion euros (7.5 billion US dollars) demanded by international lenders before they consent to a bailout for Cyprus worth 10 billion euros. The Cypriot parliament on [...] CNBC Cyprus will put forward a new proposal on Monday under which a tax-free threshold or a lower tax rate for smaller depositors could be introduced, media reports said on Monday, in a move aimed at easing the pain of a bailout agreement which will impose an unprecedented tax on savers. Reuters cited a government source in Cyprus as saying that the country is mulling a tax-free threshold on the [...] The sequester is here to stay — at least for a while. Lawmakers and aides say they do not expect Congress to turn off budget sequestration before April and that negotiations to freeze the automatic spending cuts could drag into May or beyond. (Excerpt) Read more at thehill.com … from FT:
The US and Nato are more earnestly than ever trying to speed up peace talks between them, the Afghan and Pakistani governments and the Taliban. But they will falter again, just as they have done in the past until the US is prepared to make a radical break with the past format of negotiations and understand the importance of mediation. But what we have seen in the on and off [...] TRILLION DOLLAR BABIES “Million dollar baby, Billion dollar baby, Zillion dollar baby, Trillion dollar baby.” — Alice Cooper, 1973 With the US Congress once again chomping at the bit to raise the limit on government borrowing, it has become exceedingly comical to watch as what was once the world’s leading economic power print, borrow, and spend its way down the path of failed states. For all their talk of scaling back Leviathan, Republicans in the House [...] Much of the regulation issuing from the EU is being passed down from even bigger, global bodies by Christopher Booker, The Telegraph: As predicted, that speech on “Europe” delivered by David Cameron at eight o’clock on Wednesday morning put one in mind of the White Queen’s boast that she could “believe six impossible things before breakfast”. He wanted us to believe that he could persuade the EU to change its nature and the purposes [...] Reid to Senate Republicans: Filibuster deal in 36 hours or face nuclear option By Alexander Bolton – 01/22/13 03:29 PM ET Senate Majority Leader Harry Reid (D-Nev.) is giving Republican colleagues 36 hours to agree to a deal on filibuster reform or he will move forward with the nuclear option. “I hope in the next 24, 36 hours we can get something we agree on. If not, we’re going to move forward [...] Chris McGreal The US state department says Americans are still being held hostage by Islamist militants who seized an Algerian gas facility, but that there will be no negotiations with the captors over demands for the release of two convicted terrorists held in US prisons. The American hostages include a 57-year-old industrial engineer from Houston, Texas, whose brother told the Houston Chronicle that the FBI said the man was still [...] People familiar with closed-door negotiations told The Associated Press a tentative deal was struck over the weekend. The tentative agreement would further restrict New York’s ban on assault weapons, limit the size of magazines to seven bullets, down from the current 10, and enact more stringent background checks for sales. Other elements, pushed by Republicans, would refine a mental health law to make it easier to confine people determined to be [...] from RTAmerica: Bank of America has agreed to pay $10 billion to Fannie Mae to settle claims for residential mortgages loans. In addition to BOA, ten other financial institutions came to an agreement on Monday after months of negotiations with federal regulators for mishandling foreclosures cases. Debby Goldberg with the National Fair Housing Alliance brings us more on whether or not the settlement is fair. The French intellectual, Thierry Meyssan said the US administration has decided to abandon the armed terrorist groups in Syria who call themselves ”The Free Army” as the US is set to start negotiations with Russia for solving the crisis there according to Geneva statement. In an article published on Voltaire Network, Meyssan said that the US administration has clearly decided to turn the page on the so-called ‘Free Army’, reminding that [...] Didn’t the Republicans get blamed for the need for Zucotti Park? Wan’t Obama on the side of the 99% before he insisted that these tax credits for uber rich companies be a part of the law? Apparently Goldman Sachs, JP Morgan, GE and Hollywood are NOT part of the 1%. I did not know that. “The “fiscal cliff” legislation passed this week included $76 billion in special-interest tax credits for the [...] David Cameron must return the Falkland Islands to Argentina, 180 years after the territories were “forcibly stripped” from the South American country, the country’s president has claimed in newspaper adverts. In an emotional open letter to the British prime minister, Cristina Kirchner, Argentina’s president, has called on him to honour a United Nations resolution dating from 1965 and start negotiations about handing over the islands. The letter, which was due to be [...] Wynton Hall Common ground is hard to come by in Washington these days, but everyone, it seems, hates tax “loopholes.” Democrats claim they rob the government of revenue and benefit the rich. Republicans say tax loopholes distort free markets by letting the government pick winners and losers, thereby potentially introducing artificial and undesirable incentives. Indeed, during the 2012 presidential race, Republican vice presidential nominee Paul Ryan attacked tax loopholes for [...] In a move that is rich in irony, President Obama agreed Tuesday night to sign an emergency deficit reduction bill that does almost nothing to rein in spending and then jetted out to Hawaii to resume his vacation at an extra cost of more than $3 million to taxpayers. The price tag is in addition to more than $4 million that is already being spent on the Obamas’ Hawaii idyll, bringing [...] LIVE IN 5 MINUTES FROM THE WHITE HOUSE. According to reports, Obama is NOT expected to be announcing a deal. Read more: http://www.businessinsider.com/obamas-130-pm-announcement-on-the-fiscal-cliff-negotiations-2012-12#ixzz2GeisGXnX
The Tea Party has had an up-and-down political ride since the movement helped Republicans take control of the House in 2010, but those elected in the midterm elections still appear to wield considerable power in the fiscal negotiations. The roughly 50 members elected to the House two years ago have been a challenge for the more moderate House Speaker John Boehner since they took office. Perhaps most memorably, many of them [...] SEN. MITCH MCCONNELL (R-KENTUCKY): My office submitted our latest offer to the Majority Leader last night at 7:10 p.m. and offered to work through the night to find common ground. The Majority Leader’s staff informed us they would be getting back to us this morning at 10:00 a.m., despite the obvious time crunch we all have. It’s now 2:00 p.m., and we have yet to receive a response to our [...]  It could be fairly normal to have the markets down over the new year though generally this type of futures signal would end up being a 500 point drop… http://www.bloomberg.com/markets/stocks/futures/ Check out what happened with the DOW futures since Dec 21st 2012: http://s9.postimage.org/uzksnc9jj/dow_2012_2.jpg
Margin Debt Soars To 2008 Levels As Everyone Is “All In”, Levered, And Selling Vol There were some readers who took offense at our “bloodbath” recap of yesterday’s market action (modestly different [...] Two of the top reporters covering the Fiscal Cliff, John Harwood of CNBC and Ben White Of Politico, have ominous tweets on this weekend’s negotiations so far. John Harwood ? @JohnJHarwood Uh-oh…asked how deal negotiations are coming along today, Senate Dem aide says: “Not” 29 Dec 12 Ben White ? @morningmoneyben McConnell-Reid staff talks going great if by great you mean really terrible/non-existent Read more: http://www.businessinsider.com/john-harwood-ben-white-fiscal-cliff-negotiations-going-badly-2012-12#ixzz2GTBmSfSj
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