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March 31, 2015
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Tag: European Central Bank

In Germany, Dozens Wounded and Police Cars Set Afire in Anti-Austerity Protests

Thousands participated in anti-austerity “Blockupy” demonstrations that turned violent outside the opening of the new headquarters of the European Central Bank in Frankfurt, Germany.

Posted on Mar 20, 2015 READ MORE



The Noose Around Greece: How Central Banks Harness Governments

It seems the European Central Bank has made good on a threat by Goldman Sachs to cut off liquidity to Greek banks in the event the nation elected an anti-austerity government.

Posted on Mar 11, 2015 READ MORE



Greece Can’t Do It Alone: Austerity Victims of the World, Unite!

For the anti-austerity struggle in Greece and elsewhere to become effective and sustainable, it must be raised from the national level to the international level.

Posted on Mar 6, 2015 READ MORE


Greek Finance Minister Varoufakis Wants Austerity ... for the Rich

“The finance ministers of Europe are not all in favor of balancing the budget if it has to be balanced by taxing the rich,” says economist Michael Hudson (not pictured) of the ongoing confrontation over the Greek debt crisis.

Posted on Feb 25, 2015 READ MORE



Troika Deal Drives Greece Back Toward Austerity

“The rightwing orthodoxy that dominates thinking in Brussels has asserted itself over the hapless Greeks,” writes economics correspondent Phillip Inman at The Guardian.

Posted on Feb 21, 2015 READ MORE



Why Ireland’s Political Elite Are Terrified of Syriza

Irish leaders—eager to maintain that compliance with the demands of international creditors after the 2008 crisis was the best choice for Ireland—are concerned that the defiant tactics of Greece’s newly elected Syriza party may expose their program as flawed if Syriza wins concessions from the troika of lenders.

Posted on Feb 2, 2015 READ MORE



Trojan Hearse: Greek Elections and the Euro Leper Colony

Alexis Tsipras, the leader of Syriza, would like to pretend that austerity and the euro are two different things. Apparently, he’s blissfully ignorant of the history of the euro. The horror of austerity is not the consequence of Greek profligacy: It was designed into the euro’s plan from the beginning.

Posted on Jan 29, 2015 READ MORE


‘Left, Right & Center’: Tumult in the Arab Peninsula, SOTU, N.Y. Corruption

Truthdig Editor-in-Chief Robert Scheer and the other “Left, Right and Center” panelists ask how will Saudi Arabia’s new king manage the challenges of the region after Abdullah’s death? New York Assembly Speaker Sheldon Silver is indicted on corruption charges. Also, the European Central Bank announced an aggressive bond-buying program.

Posted on Jan 24, 2015 READ MORE



EU Showdown: Greece Takes on the Vampire Squid

The Greeks have been threatened by the European financial troika with a “Cyprus-Style prolonged bank holiday” if they “vote wrong” in an upcoming presidential election that looks likely to favor the EU-skeptic, anti-austerity, leftist Syriza party. But they have been bullied for too long and are saying “no more.”

Posted on Jan 10, 2015 READ MORE



Three Decisive Events for Europe in the Week Ahead

On Sunday, parliamentary elections in Ukraine and “stress tests” and reviews conducted by the European Central Bank will “determine the entire continent’s direction for years ahead,” financial economist Anatole Kaletsky writes at Reuters.

Posted on Oct 24, 2014 READ MORE



The New Cold War’s Ukraine Gambit

With the IMF and European Central Bank acting as knee-breakers in what has become a financial extension of NATO, the U.S. and its allied investors aim to appropriate the wealth that kleptocrats took from the public domain of Russia, Ukraine and other post-Soviet economies, as well as whatever assets remain.

Posted on Oct 23, 2014 READ MORE



1 Percent ‘Literally Rich Beyond Measure’

Wealth hidden by tax shelters and non-responses to questionnaires is so undercounted that “correcting for similar lapses in income data almost erases progress made from 1988 to 2008 in narrowing the gap between the world’s rich and poor,” Bloomberg contributor Jeanna Smialek reports that a body of research has found.

Posted on Aug 7, 2014 READ MORE



Iker Merodio (CC BY-ND 2.0)

Irish Compliance Yields Eurozone Bailout Exit

Three years after international lenders loaned Ireland $92.7 billion to recover from its part of the international economic crisis, the country is the first afflicted eurozone state to exit its rescue program.

Posted on Dec 14, 2013 READ MORE



archer10 (Dennis) (CC BY-SA 2.0)

Hell on Earth for Greeks

Greek victims of austerity are increasingly being forced to sell their bodies for cheap in horrific squalor and to escape painful reality with a new street drug.

Posted on May 22, 2013 READ MORE



loop_oh (CC BY-ND 2.0)

A Safe and a Shotgun or Publicly Owned Banks? The Battle of Cyprus

For now, the government of Cyprus has overwhelmingly rejected a proposed levy on bank deposits as a condition for a European bailout. But if technocrat bankers can push through their confiscation scheme, precedent will be established for doing it elsewhere when bank bailouts become prohibitive for governments.

Posted on Mar 22, 2013 READ MORE



Ondrej Kloucek (CC BY-SA 2.0)

Recession in the Eurozone: Round 2

Recession has returned to the eurozone for the second time since the financial crisis began in 2008. The region’s GDP fell by 0.1 percent in 2012’s third quarter, which followed a 0.2 percent contraction in the previous three months.

Posted on Nov 15, 2012 READ MORE



SnowViolent (CC BY 2.0)

Creditors Demand Six-Day Workweek for Greece

A leaked letter from Greece’s lenders—the European Commission, the European Central Bank and the International Monetary Fund—orders the country to introduce a six-day workweek as part of a package of austerity demands for a second bailout.

Posted on Sep 5, 2012 READ MORE



Skley (CC BY-ND 2.0)

Stimulus Package Ahead for the Eurozone

The leaders of France, Germany, Spain and Italy made a bid to save the euro Friday, pledging to push for a $163 billion program to stimulate growth in the depressed European economies.

Posted on Jun 22, 2012 READ MORE



Parti socialiste (CC-BY)

Will Greece Be Ruled by the Bankers or Its People?

The most central and constant dilemma in modern politics—whether the will of the people or that of bureaucrats and specialists should rule—is on full display in Greece.

Posted on Mar 3, 2012 READ MORE



bbc.co.uk

EU Leaders Hold Emergency Huddle

Greece is hanging by a thread, and its European neighbors scrambled to avoid a similar fate, and stave off even harder times for the Greeks, by holding a summit in Brussels on Wednesday. Here’s a look at a couple of action items on the busy agenda for German Chancellor Angela Merkel, French Prime Minister Francois Fillon … (more)

Posted on Oct 26, 2011 READ MORE


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