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Spain Spending its way into the Abyss

by Luis R. Miranda The Real Agenda March 9, 2012 The continuous rise in public spending in Spain is deeply braking the back of the country’s capacity to keep up with one of the most dire economic situations in the Euro zone. In the last 4 years, Spain has not been able to cope with one of the highest unemployment rates in the developed world. The outcome of the ...Read full article...

Hasta la Vista Euro, Hello Peseta!

Spanish village goes back to peseta by Lee Moran Mail Online February 15, 2012 A Spanish town is looking to the past to safeguard the future of its ailing economy by reintroducing  the peseta. Fed up with the failing euro, rebellious locals in Villamayor de Santiago have reverted to using the old currency, which was phased out a decade ago. Around 30 shops in the historic town,  75 miles ...Read full article...

New ‘scary’ predictions for the Eurozone to justify loss of Sovereignty

‘Deep Depression’  is the new term used in main stream media to justify another bank bailout and the surrender of political and economic sovereignty. AFP November 29, 2011 Europe is reeling from warnings it faces a “deep depression” if the eurozone collapses and that every EU nation’s credit rating could be hit without firm action to resolve the debt crisis. An updated growth report from the OECD on Monday ...Read full article...

Britain draws up emergency plans for collapse of Euro

by James Chapman Mail Online November 28, 2011 Britain is drawing up emergency plans for the collapse of the ‘creaking’ Eurozone amid warnings debt-stricken Italy will need a £500 billion bailout involving billions of pounds of UK taxpayers’ money. Chancellor George Osborne said the Treasury had ‘stepped up’ contingency planning and aimed to be ready for ‘whatever the Eurozone throws at us’. It emerged yesterday that the International Monetary ...Read full article...

Merkel and Sarkozy in Talks to End Eurozone

Fears that Italy’s fall may drag the whole region down, prompted the ‘strongest’ economies to think about doing away with the current shape of the Eurozone. Guardian.co.uk November 10, 2011 Fears that Europe’s sovereign debt crisis was spiralling out of control have intensified as political chaos in Athens and Rome, and looming recession, created panic on world markets. Reports emerging from Brussels said that Germany and France had begun preliminary ...Read full article...

€ 1 Trillion of Taxpayer Money to ‘save’ the Eurozone

A capitalist’s worst nightmare is in the works as China prepares to back up the derivative bubble created by the banks. CNBC October 26, 2011 Euro zone leaders intend to scale up their emergency fund, the European Financial Stability Facility, to around 1.0 trillion euros, EU sources said on Wednesday. The sources said the 440 billion euros ($611.4 billion) fund, set up last year, would have about 250-275 billion ...Read full article...

Greece must default, dump euro

by Peter Morici UPI September 13, 2011 European efforts at economic integration haven’t delivered sustainable prosperity in poorer nations like Greece and Portugal. Instead, these have left Mediterranean governments teetering on bankruptcy and at the mercy of Germany and other rich states that exploit European unity to live well at the expense of their poorer brethren. The 1992 Maastricht Treaty, which considerably harmonized product and safety regulations and methods ...Read full article...

Bankers Play the Fear Card on Economic Outlook

by Tyler Durden ZeroHedge.com September 6, 2011 Any time a major bank releases a report saying a given course of action is too costly, too prohibitive, too blonde, or simply too impossible, it is nearly guaranteed that that is precisely the course of action about to be undertaken. Which is why all non-euro skeptics are advised to shield their eyes and look away from the just released report by ...Read full article...

Competing Currencies: A Defense against Profligate Spending

by Rep. Ron Paul The end of June marked what is hopefully the end of the Federal Reserve’s policy of quantitative easing. For months the Fed has purchased hundreds of billions of dollars of Treasury debt, enabling the government to fund its profligate deficit spending, push the national debt to its limit, and further devalue the dollar. Confidence in the dollar is plummeting, confidence in the euro has been ...Read full article...

Panic Alarms hit Italian Economy

European Council President Herman Van Rompuy has called an emergency meeting of top officials dealing with the euro zone debt crisis. Reuters July 10, 2011 European Central Bank President Jean-Claude Trichet will attend the meeting along with Jean-Claude Juncker, chairman of the region’s finance ministers, European Commission President Jose Manuel Barroso and Olli Rehn, the economic and monetary affairs commissioner, three official sources told Reuters. Van Rompuy’s spokesman Dirk ...Read full article...

Greece Considers Exit from Euro Zone

Der Spiegel May 6, 2011 The debt crisis in Greece has taken on a dramatic new twist. Sources with information about the government’s actions have informed SPIEGEL ONLINE that Athens is considering withdrawing from the euro zone. The common currency area’s finance ministers and representatives of the European Commission are holding a secret crisis meeting in Luxembourg on Friday night. Greece’s economic problems are massive, with protests against the government ...Read full article...

Is 2011 the Year of the Bank Run?

CNN Money Some market watchers say yes, pointing ominously to the torrents of money pouring out of Ireland. Irish bank deposits declined in November for the fourth straight month, the central bank said last week. Overseas deposits fled the country at their fastest pace in more than a year. The deposit flight compounds the stress on a financial system whose massive property-lending losses already have driven the government to accept an ...Read full article...

Green Policies in Spain are a Total Failure

By Luis R. Miranda The Real Agenda May 19, 2010 Pajamas Media has received a leaked internal assessment produced by Spain’s Zapatero administration. The assessment confirms the key charges previously made by non-governmental Spanish experts in a damning report exposing the catastrophic economic failure of Spain’s “green economy” initiatives. On eight separate occasions, President Barack Obama has referred to the “green economy” policies enacted by Spain as being the model ...Read full article...

Banco Central Europeo: $1 trillón de dólares solo sirve para ganar tiempo

Por Luis R. Miranda The Real Agenda Mayo 16, 2010 La corrupción y mentiras del Banco Central Europeo y sus sucursales en todo el mundo no tienen límites. Hace un año, su oficina en los Estados Unidos, -la Reserva Federal- solicitó $700 millones de dólares para ‘salvar’ la economía. Esto, después supimos, resultó ser una mentira. Una mentira no solo porque el dinero no era para hacer ‘magia’ económica como ...Read full article...

Bolsa de España cae 6.64%

Las dudas sobre la recuperación de la economía europea y el retroceso de los mercados internacionales, entre otros factores, han provocado que el índice de referencia de la bolsa española, el Ibex-35, haya perdido 662,80 puntos, equivalentes al 6,64%. Se sitúa así en 9.314,70 puntos. Terra.es La bolsa española ha bajado en la jornada del viernes el 6,64%, lamayor caída desde octubre de 2008, y ha descendido hasta 9.300 puntos, afectada por las dudas sobre la ...Read full article...
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