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It is official: The European Union now owns Cyprus

The agonizing struggle between Cyprus and the euro zone is coming to an end. Cornered by the European Central Bank’s ultimatum to sign a bailout before midnight Sunday, the President of Cyprus, Nikos Anastasiades, tried to turn the situation to its European partners threatening to resign, leaving in the air the possibility of an uncontrolled outflow of euro zone countries. The blackmail, the threat of failure, was the only ...Read full article...

In Cyprus your money is not really yours

Banks in Cyprus has imposed a daily limit of cash withdrawal of 100 euros at ATMs, reports Reuters. The measure, advanced by the Laiki Bank, which allowed out until now 260 euros, will now blocking customers from accessing their savings should they decide to withdraw more than 100 euros at a time. According to some sources, this decision, which hardens the playpen that seeks to prevent a bank run, ...Read full article...

Kerry offers $450 million to rescue Egyptian economy

Shortly before ending his first visit to Cairo, the new Secretary of State of the United States, John Kerry, said that in his meeting with President Mohamed Morsi he pledged to provide 450 million dollars (350 million euros) in aid to the Arabic country. With various regions declared in default, the government and the opposition unable to resolve their differences, and an economy on the brink of bankruptcy, the ...Read full article...

Argentina freezes food prices to avoid higher inflation and mass hunger

By ALMUDENA CALATRAVA | AP | FEBRUARY 5, 2013 Argentina announced a two-month price freeze on supermarket products Monday in an effort to break spiraling inflation. The price freeze applies to every product in all of the nation’s largest supermarkets — a group including Walmart, Carrefour, Coto, Jumbo, Disco and other large chains. The companies’ trade group, representing 70 percent of the Argentine market, reached the accord with Commerce ...Read full article...

IMF issues plan to starve Portuguese people even further in 2013

By LUIS MIRANDA | THE REAL AGENDA | JANUARY 10, 2013 Portuguese Prime Minister Pedro Passos Coelho warned a month ago: The Portuguese, that bears a progressive and growing cut in services for the last year and a half, intends to save another 4,000 million euros a year starting now. For ideas on where to do it, the Portuguese Executive requested a report to the International Monetary Fund (IMF). ...Read full article...

IMF presses Euro countries to hand over Sovereignty

By LUIS MIRANDA | THE REAL AGENDA | NOVEMBER 9, 2012 The International Monetary Fund (IMF) has urged countries that are under pressure from markets and high financing costs, including Spain, to seek the help of the European bailout funds to enable the debt purchase program created by the European Central Bank (ECB) to be initiated. “Countries should implement plans to adjust and, if necessary, seek appropriate support from ...Read full article...

Greek government imposes more Austerity

By LUIS MIRANDA | THE REAL AGENDA | NOVEMBER 8, 2012 The same worn out ineffective policies that have done nothing to help Greece come out of the dire situation it has been for years have found more support at the highest levels of the Greek government. Congress in that country had the guts to adopt more of the same hunger causing measures that took Greece from being in ...Read full article...

Brussels sees darker times for Spain and Europe

By LUIS MIRANDA | THE REAL AGENDA | NOVEMBER 6, 2012 Brussels sees no green grass across the fence when it comes to an economic recovery. The economic forecasts for 2013, which will be made public on Friday, will describe a dark and rainy future for Spain and most likely the rest of Europe. Forecasts are just that, good or bad omens based on leading indicators. But it remains to be seen whether ...Read full article...

China: The New Bin Laden

Paul Craig Roberts May 12, 2011 George Orwell, the pen name by which Eric Blair is known, had the gift of prophecy, or else blind luck. In 1949 in his novel, 1984, he described the Amerika of today and, I fear, also his native Great Britain, which is no longer great and follows Washington, licking the jackboot and submitting to Washington’s hegemony over England and Europe and exhausting itself ...Read full article...

IMF calls for Alternative Reserve Currency, Again

m4s0n501 CNNMoney February 11, 2011 The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world’s reserve currency. The IMF said Special Drawing Rights, or SDRs, could help stabilize the global financial system. SDRs represent potential claims on the currencies of IMF members. They were created by the IMF in 1969 and can be converted into whatever currency a borrower requires at ...Read full article...

President Nicolas Sarkozy: France out of Euro zone

President Nicolas Sarkozy slammed his fist on the table and threatened to pull France out of the euro at a meeting of European leaders deciding Greece’s aid package last Friday, according to Spain’s El Pais newspaper. UK Telegraph He newspaper cited comments by Spanish Prime Minister Jose Luis Rodriguez Zapatero to members of his party onWednesday as relayed by people present at that meeting. A spokesman for the Spanish ...Read full article...

$1 trillion to handle financial collapse, dead currency in Europe

Bloomberg European policy makers unveiled an unprecedented loan package worth nearly $1 trillion and a program of securities purchases as they spearheaded a drive to stop a sovereign-debt crisis that threatened to shatter confidence in the euro.     Jolted into action by last week’s slide in the currency to a 14-month low and soaring bond yields in Portugal and Spain, governments of the 16 euro nations agreed to make loans ...Read full article...

Let’s talk European Double Dip

The use of non-original content in this site is protected by the Fair Use Clause created in 1976, which allows for the reproduction of copyrighted materials for the purposes of commentary, criticism and education. RT The US and Russia are gaining traction on an economic rebound, with China posting rudely healthy 1Q 2010 GDP growth. But its time for Europe to get ready for Recession – the sequel. Jean ...Read full article...