The world’s tallest tower should have been built by now. Officials said last year that the great edifice with 220 floors would be erected in three months flat in China’s inland city of Changsha by March, snatching the crown from Dubai’s Burj Khalifa.
The deadline has come and gone, yet the wasteland sits untouched. It now looks as if the fin d’époque project – using prefab blocs – may never be [...]
Massive car blast near Syrian Interior Ministry, hotel in Damascus, many injured
A massive car explosion has been reported in central Damascus with the Syrian Interior Ministry, a big hotel and a market located nearby. Local media report many have been injured.
DETAILS TO FOLLOW
Massive car blast near Syrian Interior Ministry, hotel in Damascus, many injured – reports
A blast rocked the central Damascus district of Marjeh on Tuesday causing casualties, Syrian [...]
by Phoenix Capital Research
If you happened to simply glance over the headlines in the financial media over the last few months, you’d think the European Crisis was over.
In November, no less than France’s Prime Minister, Spain’s Prime Minister, and even Germany’s Finance Minister suggested that the worst is over for the Euro Crisis or that the Crisis as a whole was over completely.
Unfortunately for them, the markets don’t seem to [...]
Greece will fire 4,000 civil servants this year as part of programme of austerity measures agreed with the EU-IMF “troika” as the condition for the next €8.8bn of payments in its €270bn bail-out.
by Bruno Waterfield, The Telegraph:
The redundancies will begin a savage round of job cuts in the Greek public sector, with another 11,000 officials due to be sacked by the end of next year.
Greece is in deep recession, GDP has [...]
The eurozone finds itself back in the headlines. Once again, the world has been forced to watch a small country – this time Cyprus, with an economy smaller than that of Vermont – potentially threatening the integrity of the euro project. And not long before that, general elections in Italy produced extraordinary results – how often has a standing prime minister garnered only 10 per cent of the public vote?
Both events remind [...]
Jordan is intending to declare the north of the country a “disaster area,” Jordanian Prime Minister Abdullah Ensour said in remarks published on Wednesday.
The prime minister voiced concerns over a wide-scale flow of Syrian refugees into Jordan as a result of possible flare-up of major armed confrontations in Syria.
The number of Syrians in Jordan has exceeded one million, including 450,000 refugees and more than 600,000 citizens who came with their [...]
Paul De Grauwe, a professor at the London School of Economics, told Tom Keene on “Bloomberg Surveillance” today that the euro area is at risk because “so many big mistakes have been made.”
De Grauwe went on to say that the “ineptitude of policy makers” allowed Cyprus to “degenerate into systemic crisis” and that European leaders should not allow Russia to take over gas in Cypriot waters as it would allow [...]
“Italy has no prime minister, and Spain’s is neck deep in a corruption scandal.
Fearing voter backlash, legislatures in both countries fail to approve the reforms. Cash needs have been delayed as long as possible, and defaults could occur in a matter of days.
What happens now?”
“The cost of a eurozone breakup is impermissibly high to Germany.
As long as it is cheaper to bailout these countries rather than allowing them to exit [...]
LIVE: EXIT POLL: BERSANI SET TO WIN ELECTION
Rome, Italy — We’re live from the Casa dell’Architettura in Rome, where the center left Partito Democratico is hosting its election day activities.
According to exit polls reported by Bloomberg, Pier Luigi Bersani is projected to win.
Here’s a breakdown of the exit polls:
Sky News Poll, Chamber results:
Bersani: 34.5 percent
Berlusconi: 29 percent
Grillo: 19 percent
Monti: 9.5 percent
RAI poll, Senate results
Bersani: 36-38 percent
Berlusconi: 30-32 percent
The First Italian Exit [...]
The prime minister and his entire government quit after failing to quell protests against high electricity prices.
The Bulgarian premier and his whole government is resigning from office after nationwide protests against austerity.
Prime Minister Boiko Borisov had tried to calm protests against high electricity prices by sacking his finance minister, pledging to cut power prices and punish foreign-owned companies but the measures failed to defuse discontent.
Twenty-five people were taken to hospital [...]
Iceland could become the first Western democracy to block all internet porn under radical new proposals.
Fears about the damaging effects on children have led the government to work on legal measures to try and stop the flood of graphic sexual material reaching the island’s shores.
Interior Minister Ögmundur Jónasson has set up working parties to find the best ways to stem the tide of online images and videos being accessed by [...]
Officials: Obama coming to Israel to prevent attack on Iran
The main purpose of US President Barack Obama’s visit to Israel in the spring, is to warn Prime Minister Binyamin Netanyahu against attacking Iran, unnamed officials told Army Radio on Sunday.
Obama is concerned that the prime minister will decide to attack Iran now when he is backed by a new government and can establish a new security cabinet, without Dan Meridor [...]
By Toby Connor
As many of you who have read my work in the past know, I expect the eventual endgame to this whole Keynesian monetary experiment that has been going on ever since World War II, to finally terminate in a global currency crisis. I’m starting to wonder if we aren’t seeing the first domino start to topple.
I’m talking about the Japanese Yen of course.
I think everyone just naturally assumes that [...]
He told reporters about when he was first elected and was told that Ukip was “some sort of mad, weird little fringe. And here we are today with the prime minister, disingenuously perhaps, but at least discussing the exit door! I think that’s a tremendous achievement for us.”
“I thank you for giving me the opportunity for a third time to lead the State of Israel,” says Netanyahu in victory speech.
Prime Minister Binyamin Netanyahu, who will head a large but weaker Likud party in the new Knesset, gave a victory speech at his party’s headquarters on Tuesday night.
“You have once again proved that Israel is a vibrant, dynamic, exemplary democracy, and I am proud to be your Prime [...]
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Business leaders are starting to make their voices heard about Britain’s role in the EU, and about time too.
As the prime minister prepares for this month’s critically important speech on the [...]
Philip Gordon, the US assistant secretary responsible for European affairs, said that Britain’s membership of the EU was “in the American interest”.
After observing the rise in popularity of Ukip and the rise of anti-European sentiment generally, the issue was raised by President Barack Obama in a video-conference call with the Prime Minister on Tuesday. It was raised during bilateral discussions between officials this week. “It is important to state very [...]
The world’s most powerful leaders must mount a concerted effort to prevent multinational companies such as Starbucks and Amazon legally avoid large corporation tax bills, David Cameron will urge in his role as president of the G8.
The Prime Minister vowed to make “damn sure” that multinational firms paid their fair share of tax on their UK operations.
He is to use Britain’s presidency of the G8 group of the most industrialised [...]
Foreign companies like Starbucks and Amazon which have avoided paying large corporation tax bills in the UK lack “moral scruples”, David Cameron has said.
Foreign companies like Starbucks and Amazon which have avoided paying large corporation tax bills in Britain lack “moral scruples”, David Cameron has said.
The Prime Minister said he was going to make “damn sure” that foreign companies like Starbucks and Amazon which have been found to avoid legally [...]
December 29, 2012
A letter thought to mark the beginning of the warm relationship between Margaret Thatcher and Jimmy Savile has been made public for the first time.
But other correspondence between the pair has been censored, raising questions over what it contains.
The Top Of The Pops presenter sent an adoring letter to the then prime minister in 1980, singing her praises and declaring his love for her.
She responded by inviting the [...]
by Phoenix Capital Research
As we fast approach the fiscal cliff, we’re reprinting the following article as we believe it best sums up the situation.
The US’s “EU Style” Negotiations Will Without a Doubt Take Us Over the Cliff
Ever since the EU Crisis began in earnest in January 2010, EU leaders have maintained the following strategy:
1) Engage in endless meetings/ discussions, none of which resolve anything.
2) Announce that the situation is resolved.
3) Wait [...]
armstrongeconomics.com / By Martin Armstrong / December 18, 2012
The French actor Gerard Depardieu has left France and was publicly ridiculed for not wanting to turn over 75% of his wealth. Gerard has fired back and is clearly pissed-off how he was treated in France and sent an open letter to the Prime Minister. He writes that he paid EUR 145 million taxes in 45 years and Belgium neither has wealth tax [...]
Silvio Berlusconi was not exactly a welcome guest when he turned up in Brussels for the pre-summit gathering of Europe’s centre-right leaders.
Some worried about being photographed next to Mr Bunga-Bunga.
Others muttered about him being a “destructive force” after he had announced his “return to the field”, prompting the technocratic prime minister, Mario Monti, to announce his resignation.
Across Europe there is worry that Mr Berlusconi will upset the fragile financial calm [...]
US President Barack Obama plans to propose to Iran that they conduct direct negotiations over the Islamic Republic nuclear program, Channel 10 reported Tuesday night citing a senior US official.
According to the official, the decision did not involve any coordination or consultation with Israel.
According to the report, the US is likely to give negotiations a time-frame of four to five months. If they do not succeed, the US may resort to [...]
France has urged rapid foreign military intervention in Mali after the country’s prime minister was arrested.
Mali’s Prime Minister Cheikh Modibo Diarra resigned early Tuesday.
He addressed the nation on television hours after soldiers loyal to Capt. Amadou Haya Sanogo, who led a recent coup, arrested him.
Diarra was getting ready to leave the country for Paris, AP reports. It’s unclear if the trip to France was planned, or if
Diarra was attempting to [...]
In unguarded remarks off camera & mic (they were on)
Dmitry Medvedev muses on aliens and Vladimir Putin’s lateness
Father Christmas, aliens, President Vladimir Putin’s lateness and police “jerks” – Dmitry Medvedev, Russia’s prime minister, gave the nation his views on more than he intended on Friday.
Mr Medvedev let his guard down after an interview with five Russiantelevision stations when he failed to realise the cameras were still rolling.
“I believe in Father Frost. [...]
Ukrainian Prime Minister Mykola Azarov and the entire government resigned today in a surprise move after controversial elections as the economy teeters on the brink of recession.
The presidency said President Viktor Yanukovych had accepted Mr Azarov’s request to give up his post and become an MP, a move expected to be repeated by several cabinet ministers.
It remained unclear who would fill the powerful post of premier, with some analysts [...]
Israel will continue to build in Jerusalem and anywhere considered to be in its strategic interest, Prime Minister Binyamin Netanyahu said in Jerusalem Sunday.
The cabinet then unanimously passed a resolution rejecting the U.N. decision saying: “The Jewish people have natural, historical and legal rights to its homeland with its eternal capital Jerusalem.” The cabinet said the U.N. resolution does not change the status of disputed areas and does not detract [...]