Socialist Party | InvestmentWatch

An outrageous holiday scandal could push the euro crisis back into the headlines again

From Bloomberg:

Just before Christmas, I met with former Greek Finance Minister George Papaconstantinou, and he talked about how excited he was to spend the holidays abroad, where – unlike in Greece – he could roam freely without a security detail. His holiday didn’t go quite as expected.

On Dec. 28, Papaconstantinou was accused of removing names from a list of Greeks with Swiss bank accounts – the so-called Lagarde list – [...]

French Socialist: We’re Just Doing What Obama Does

from CNBC:

The French politician who said Indian steel company ArcelorMittal should leave the country has told CNBC that his government is only acting like U.S. President Barack Obama.

Industry Minister Arnaud Montebourg, a member of the governing Socialist party, caused controversy last week when he said that the Indian company, which employs close to 20,000 people in France, should leave after it said it would have to close down a factory.

The [...]

77.9% Of Spanish Voters Polled Have Little Or No Confidence In Rajoy

According to the latest Centro de Investigaciones Sociológicas (CIS) poll, Spanish Prime MinisterMariano Rajoy’s popularity has sunk to the point where 77.9% of the country’s electorate has little or no confidence in him. The survey still shows Rajoy’s conservative Popular Party (PP) ahead of the Socialist Party, however, by 6.7 per cent – eight percentage points down from the PP’s historic election [...]

The next round of the EU Crisis will come in just a few months:

The Exact Moment Greece Will Leave the Euro

by Phoenix Capital Research

…the second Greek parliamentary elections in as many months came and went. While the media is making a big deal of the fact that the anti-bailout SYRIZA party didn’t win, the facts remain that the elections haven’t really accomplished anything of significance for Greece’s fiscal condition or the likelihood of it staying within the EU.

What I mean by this is that [...]

Six Reasons Why Italy May Exit The Euro Before Spain

Mike “Mish” Shedlock, Global Economic Trend Analysis

As I have said repeatedly, Greece is noting but a sideshow, with the election last Sunday in France far more important than the election in Greece that has had everyone’s attention.

For further discussion, please see Greek Election Sideshow; Socialists Win Absolute Majority in France; How Long Will the Bond Market Celebrate Another Glorious Can-Kicking Exercise?

Today I want to expand on that topic with the idea that [...]

Euro CRISIS: A Greek insider’s shocking take on what could happen next

From Bruce Krasting:

I wrote about a conversation I had with a Greeks shipper living in Athens on May 15. In that article, I conveyed the thoughts of my friend who was convinced that the June 17 Greek elections would produce a different result than the May 26 effort to form a government. At the time he said:

When the next election comes, Greeks will not vote in anger and they will [...]

Will the recently reduced minimum retirement age be cut again in French?

While everyone is focusing on Greece, we have news from France:

FRENCH SOCIALISTS WIN ABSOLUTE MAJORITY IN PARLIAMENT, CSA SAYS
FRENCH SOCIALISTS WON 320 SEATS, CSA SAYS; MAJORITY IS 289
FRENCH SOCIALISTS WON’T NEED TO RELY ON LEFT FRONT, GREENS: CSA

So… does that mean that the recently reduced minimum retirement age wil be cut again, thank you Germany?

Socialists to Be Largest Group in France’s Parliament

French President Francois Hollande’s Socialist Party is set to win the largest number of seats in parliament, exit polls for the first round of the country’s legislative elections yesterday showed.

Hollande will have to wait until the June 17 second round to know if he has an absolute majority or will need allies in parliament, some of whom say his plans to increase spending and taxes are too timid.

In yesterday’s round, the [...]

Irish people on course to grudgingly accept EU treaty that opens way for further cuts in debt-ridden countries

Low turnout relieves pressure on EU bosses battling to contain debt crisis
New treaty was signed by leaders of 25 countries in February
Urges members who ratify to cut annual deficit to no more than 0.5% GDP

Ireland’s voters gave a grudging seal of approval to an EU treaty that paves the way for further austerity measures across the continent in a desperate attempt to fight the debt-crisis that threatens the existence of the [...]

For Many in Greece, Austerity Is a False Choice

For the better part of six months now, mainstream politicians in Greece and their financial backers in northern Europe have threatened the country’s austerity-whipped citizens with a do-or-die proposition: suffer the short-term pain of government cutbacks or accept the longer-term distress, not to mention ignominy, of life outside the euro.

But now, as Greece faces yet another year of its economy shrinking by 6 percent and with the February unemployment rate hitting [...]

Coalition talks break down in Greece but they agree to tear up bailout conditions imposed on them from other countries and banksters:

Alexis Tsipras, whose Syriza party was the surprise runner-up in Sunday’s election and is expected to fare even better in a second election, had earlier declared the €130 billion (£104 billion) EU bail-out of Greece dead in a letter to Brussels.

He told colleagues “we cannot make true our dream of a Left-wing government” after failing in a bold challenge to the two mainstream parties, Pasok and New Democracy, to renounce [...]

New First Lady nicknamed ‘Rottweiler’

He cut an unlikely figure as he stood in a corridor of the Bercy Omnisports Arena in Paris last Sunday, preparing to follow in the footsteps of megastars such as Madonna and Kylie Minogue in front of 22,000 chanting fans.

Indeed, with his smart grey suit, spectacles and earnest features, he might have passed as a bank manager. But this was Francois Hollande, 57, the man who has spent three decades [...]

For the first time, Nicolas Sarkozy admits he may be facing defeat as he trails behind favourite in French election race

Opinion polls place Socialist Francois Hollande far ahead of president
Incumbent failed to make a dent in rival’s campaign during TV debate
Hollande ridicules Sarkozy: ‘With you it’s very simple – it’s never your fault’
President claims opinion polls ‘are lying’

Showing the signs of strain in the closely run French election, president Nicolas Sarkozy yesterday admitted that he might be defeated when voters go to the polls on Sunday.

The political leader, who has [...]

FT: Sarkozy makes impassioned plea for votes

From FT:

Nicolas Sarkozy mounted a defiant show of force in Paris on Tuesday, wresting the spotlight from traditional trade union May Day marches and vowing to fight to the last against François Hollande, his socialist challenger in Sunday’s presidential election.

In an impassioned address to tens of thousands of his conservative supporters, against a backdrop of the Eiffel Tower, Mr Sarkozy implored the crowd to use the last three days of campaigning [...]

French Austerity Resistance Only Just Beginning

For the first time in more than 30 years, a new French political force – not only to the left of the Socialists, but also unafraid to assert itself as an alternative to them – scored double figures in a presidential election: 11.1%, climbing to 16% in large cities. This achievement of the Front de Gauche (Left Front) represents the most recent and the strongest success of the “other left” [...]

Socialists deploy Obama campaign tactics

By Tony Todd reporting from Nimes (text)

Across France teams of Socialist activists are knocking on doors and talking to voters, in a door-to-door campaign inspired by US President Barack Obama’s successful 2008 campaign.

FRANCE 24 joined a small team of Socialist Party (PS) canvassers working the suburbs of Nimes in southern France as the country gears up for the second round of the presidential election on May 6.

Locally, there is much at stake [...]

The Greek Socialist PM Candidate Has Virtually Ruled Out More Austerity

ATHENS, Greece (AP) — Greece’s socialist party leader Evangelos Venizelos has promised no new taxes, or across-the-board wage and pension cuts, if his party participates in a coalition government after the May 6 early election.

Speaking in front of a select audience of party officials Saturday, the former finance minister said he expected no single party to be able to form a government after the vote.

Venizelos said if his party, PASOK, [...]

Mish: European Splintering Escalates

The Netherlands government has officially collapsed in a dispute over austerity

measures. Elections likely in September. Meanwhile, the Czech government is

also on the verge of collapse, for the same reason: austerity measures.

The Financial Times reports Dutch Government Falls Over Budget Talks

The Dutch governing coalition collapsed on Saturday when far-right politician Geert Wilders pulled out of budget cut talks, saying it was not in the Netherlands’ interest to meet the deficit limit of three per [...]

Spain’s 74-year-old king came under scathing criticism Sunday for going on an expensive elephant hunting trip in Botswana amid the nation’s deep financial woes. Spanish newspapers were filled with accounts of how hunting trips to Botswana cost more than most Spaniards earn in a year.

MADRID (AP) — Spain’s 74-year-old king came under scathing criticism Sunday for going on an expensive elephant hunting trip in Botswana amid the nation’s deep financial woes.

Making matters worse, an accident on the trip sent King Juan Carlos into surgery. Doctors said Sunday that he was recovering well after a hip replacement but would not be able to resume full duties for more than a month.

His son, 44-year-old Prince Felipe, [...]

EU: Merkel Braces for Possible Sarkozy Election Defeat

Angela Merkel initially refused to receive French presidential candidate François Hollande when he offered a meeting recently. But as his victory against Nicolas Sarkozy seems more likely, the German Chancellery has made its first contacts with the Socialist Party politician’s camp. After all, Berlin and Paris must stick together.

For weeks, French President Nicolas Sarkozy fell hopelessly behind in polls against his Socialist Party opponent François Hollande, but in recent days [...]

Greek parties face Monday EU bailout deadline… ‘There are two big issues left – labour and banks … those have been left for tomorrow’ – Panagiotis Beglitis

(Reuters) – Greece’s coalition parties must tell the European Union on Monday whether they accept the painful terms of a new bailout deal as EU patience wears thin with political dithering in Athens over implementing reforms.

Technocrat Prime Minister Lucas Papademos put on a brave face as he tried to get leaders of the three parties in his government on Sunday to sign off on the terms of a 130 billion [...]

REUTERS: Papandreou’s chief of staff denied the prime minister intended to resign although sources within his PASOK socialist party said some senior lawmakers wanted a Greek former top official at the European Central Bank to head a new government

(Reuters) – The Greek government teetered on the brink of collapse on Thursday over plans for a referendum on a euro zone bailout with turmoil in the ruling party casting grave doubt on whether Prime Minister George Papandreou can survive a confidence vote.

Conservative opposition leader Antonis Samaras demanded that a transitional government be formed immediately to run the country until snap elections, with the current parliament ratifying the financial rescue for [...]

French socialists sense change after vote; Troubles pile up for Sarkozy

From FT:

France’s Senate, the upper house of parliament based in the splendid Luxembourg palace in Paris, is not usually the scene of excited election celebrations.

But on Sunday night supporters of the opposition Socialist party and its leftist allies celebrated in the 17th-century palace after capturing a majority in the Senate for the first time since 1958, giving a bloody nose to President Nicolas Sarkozy in [...]

WILL STRAUSS-KAHN RUN FOR PRESIDENT?

Supporters of French politician Dominique Strauss-Kahn are hoping their man can go from inmate to candidate – but he’ll have to do it quickly.

Word that the Manhattan sexual assault case against the 62-year-old Frenchman was collapsing raised hopes that Strauss-Kahn could resume his presidential run.

“If he’s freed, Dominique should be called on to play a major political role in France,” Socialist Party leader Jack Lang said on French television.

Strauss-Kahn [...]

Greek PM sacks finance minster as things get desperate, close to immediate default:

(Reuters) – Greek Prime Minister George Papandreou appointed a new finance minister on Friday in a crisis reshuffle to try to push through harsh economic reforms and avoid a default that could cause global economic turmoil.

Papandreou picked outgoing Defence Minister Evangelos Venizelos as new finance minister, jettisoning George Papaconstantinou, architect of a belt-tightening programme that has stoked violent unrest and a revolt in his [...]

‘Bankrupt’ claim heightens Spanish debt fears

From FT:

The central Spanish region of Castilla-La Mancha is “totally bankrupt”, according to the incoming administration of the rightwing Popular party (PP), an accusation that will deepen concerns about Spain’s budget deficit.

The claim has prompted angry denials from the Socialist government.

Spain’s 17 autonomous regions and its more than 8,000 municipalities, with €150bn ($220bn) of accumulated debt between them, have become the latest worry for [...]

Spain, Scary Statistics, and Why the U.S. Dollar Remains the World’s Reserve Currency

The Spanish held some local elections yesterday and the ruling Socialist party took an expected drubbing. The item in the news commentaries that really jumped out at me, though, was the level of Spain’s unemployment. This country, a large European economy, has an unemployment rate of 21.3% and, more disturbingly, a youth unemployment rate above 40%. Two out of every five [...]

Strauss-Kahn Placed on Suicide Watch

Dominique Strauss-Kahn, head of the International Monetary Fund, is now under suicide watch at Rikers Island, according to a law enforcement source.

The International Monetary Fund chief accused of sexually assaulting a Manhattan hotel maid is on suicide watch in his Rikers Island cell, NBC New York has learned.

The special designation for Dominique Strauss-Kahn means he is checked every 15 to 30 minutes [...]

French presidential race hopes in jeopardy

From FT:

Talks on the Greek sovereign debt crisis and French presidential politics were both thrown into disarray after Dominique Strauss-Kahn, managing director of the International Monetary Fund, was escorted off an aircraft in New York over the weekend to face sex charges.

Mr Strauss-Kahn was expected on Sunday to appear before a New York court and plead not guilty to charges of committing a criminal sexual act, attempted [...]

France Considers Criminalizing Prostitution

Soliciting sex could soon be criminalised, with jail sentences and hefty fines for offenders, if French lawmakers pass legislation that has been recommended by a parliamentary report published on Wednesday.
By Tony Todd (text)

An association of French prostitutes has slammed a parliamentary report recommending that paying for sex should be criminalised.

Published on Wednesday, the report recommends a €3,000 fine and up to six months in jail for [...]

The fall of the portuguese Government is a bad? Think again…

by Alex

Most foreigners and news services don’t understand what’s going on in Portugal and that’s why they think that the fall of the portuguese Government is a bad thing. But the truth is so far from it. The truth is that today will mark the first day of a possible hope of getting our fiscal and budget act in place.

The Socialist Party has been running the [...]

Albania is also on the verge of collapse:

From Irishtime:

Three men were shot dead as protesters battled police at an anti-government rally in the Albanian capital last night, in what prime minister Sali Berisha called an opposition attempt to foment a Tunisia-style uprising.

Supporters of the opposition Socialist Party, which refuses to accept the result of a 2009 election, protested outside Mr Berisha’s office against what they see as official corruption and electoral [...]

The countdown to the end of Europe has begun.

by zh

From RTE “The EU and the IMF will offer the Government an â‚¬85bn facility, which can be used to recapitalise the banks and fund the public finances. The EU and the IMF will offer the Government an â‚¬85bn facility, which can be used to recapitalise the banks and fund the public finances. The package would see the level of capital in the Irish banks [...]

Our government is coming dangerously close to becoming fascist.

The idea of checks and balances is gone. It is complete lawlessness in our government. The congress is off buying jets and flying around the world and passing legislation without reading it. The far left liberal supermajority backs the Obama administration no matter what….no checks, no balances, just Rahm it through.

Almost every aspect of our economy has been socialized. I doubt I need to name them all. Don’t forget the [...]

This is going to be the most expensive “recovery” ever.

This recovery is going to lead to a real depression where countries collapse. Soon, politicians will regret this “recovery” and will wish they had let the banks fail. They will realize that free-market capitalism is much more efficient than socialism. Or maybe they won’t .. ever.

Socialism is great until you run out of other peoples money- The Iron Lady

Not sure we will see another Depression the conditions of countries [...]

InvestmentWatch

An outrageous holiday scandal could push the euro crisis back into the headlines again

French Socialist: We’re Just Doing What Obama Does

77.9% Of Spanish Voters Polled Have Little Or No Confidence In Rajoy

The next round of the EU Crisis will come in just a few months:

Six Reasons Why Italy May Exit The Euro Before Spain

Euro CRISIS: A Greek insider’s shocking take on what could happen next

Will the recently reduced minimum retirement age be cut again in French?

Socialists to Be Largest Group in France’s Parliament

Irish people on course to grudgingly accept EU treaty that opens way for further cuts in debt-ridden countries

For Many in Greece, Austerity Is a False Choice

Coalition talks break down in Greece but they agree to tear up bailout conditions imposed on them from other countries and banksters:

New First Lady nicknamed ‘Rottweiler’

For the first time, Nicolas Sarkozy admits he may be facing defeat as he trails behind favourite in French election race

FT: Sarkozy makes impassioned plea for votes

Socialists deploy Obama campaign tactics

The Greek Socialist PM Candidate Has Virtually Ruled Out More Austerity

Mish: European Splintering Escalates

Spain’s 74-year-old king came under scathing criticism Sunday for going on an expensive elephant hunting trip in Botswana amid the nation’s deep financial woes. Spanish newspapers were filled with accounts of how hunting trips to Botswana cost more than most Spaniards earn in a year.

EU: Merkel Braces for Possible Sarkozy Election Defeat

Greek parties face Monday EU bailout deadline… ‘There are two big issues left – labour and banks … those have been left for tomorrow’ – Panagiotis Beglitis

REUTERS: Papandreou’s chief of staff denied the prime minister intended to resign although sources within his PASOK socialist party said some senior lawmakers wanted a Greek former top official at the European Central Bank to head a new government

French socialists sense change after vote; Troubles pile up for Sarkozy

WILL STRAUSS-KAHN RUN FOR PRESIDENT?

Greek PM sacks finance minster as things get desperate, close to immediate default:

‘Bankrupt’ claim heightens Spanish debt fears

Spain, Scary Statistics, and Why the U.S. Dollar Remains the World’s Reserve Currency

Strauss-Kahn Placed on Suicide Watch

French presidential race hopes in jeopardy

France Considers Criminalizing Prostitution

The fall of the portuguese Government is a bad? Think again…

Albania is also on the verge of collapse:

The countdown to the end of Europe has begun.

Our government is coming dangerously close to becoming fascist.

This is going to be the most expensive “recovery” ever.

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