Bailout Fail

Youth Without Hope: 60% Unemployment

"Greece has a 60% unemployment rate for people in the 18-25 age bracket. Think of this. This is a generation that is unlikely ever to save their career plans out of the recession that has overtaken Greece and is getting worse. It will mar them for the rest of their lives. The experts said this was impossible in 2007. The bankers in northern Europe believed the hype. They lent money to Greece’s government and businesses. Now they need bailouts from the European Union — the government — and the central bank, and the IMF. They care nothing about Greece. They just want someone to pay interest on their loans. They are getting what they ask for. Greece isn’t." Continue reading →

Continue ReadingYouth Without Hope: 60% Unemployment

Stodgy Netherlands is nation that’ll blow up euro

"Consumer debt in the Netherlands has hit 250% of available income, one of the highest levels in the world. In Spain, by comparison, it has never gone above 125%. The Netherlands has turned into one of the most heavily indebted countries in the world. It has slumped into recession and shows very little sign of coming out of it. The euro crisis has been dragging on for three years now but so far has only infected the peripheral nations within the single currency. But the Netherlands is a core member of both the euro and the European Union. If it can’t survive in the euro zone, then the game really will be up." Continue reading →

Continue ReadingStodgy Netherlands is nation that’ll blow up euro

Moody’s: ‘Strategic Default’ Viewed as Less Taboo by Cities

"The number of defaults from U.S. municipal issuers rated by Moody’s Investors Service has more than tripled to 4.6 per year since 2007, showing willingness to pay can’t be taken for granted, the company said in a report. Five municipalities rated by Moody’s defaulted last year, including Stockton, California, which became the biggest U.S. city to seek Chapter 9 bankruptcy protection in June. Wenatchee, Washington, failed to honor a guarantee on an interest payment for a sports arena. The figure doesn’t include issuers such as Vadnais Heights, Minnesota, which 'selectively defaulted' on contingent liabilities, the report said." Continue reading →

Continue ReadingMoody’s: ‘Strategic Default’ Viewed as Less Taboo by Cities

Bank deposits of over €100,000 may be at permanent risk in Europe

"Deposits of over €100,000 are likely to be hit in the event of future European bank collapses, according to a proposal put forward by the Irish presidency of the European Council ahead of a key meeting of finance ministers next week. Discussions on the controversial bank resolution regime, which is likely to see savers with deposits over €100,000 'bailed in' as part of future bank wind-downs, are due to intensify this week in Brussels, ahead of Tuesday’s meeting, which will be chaired by Minister for Finance, Michael Noonan." Continue reading →

Continue ReadingBank deposits of over €100,000 may be at permanent risk in Europe

Draghi Says ECB Ready For Negative Interest Rates If Needed

"European Central Bank President Mario Draghi said policy makers are ready to cut interest rates again if needed after reducing them to a record low last week. The euro fell half a cent on the comment to $1.3057 and European stocks pared losses. The Frankfurt-based ECB on May 2 cut its benchmark rate by a quarter point to 0.5 percent, and Draghi said then that officials have an 'open mind' about taking the deposit rate, currently at zero, into negative territory." Continue reading →

Continue ReadingDraghi Says ECB Ready For Negative Interest Rates If Needed

Globalist Euro Disaster: Euro Founder Endorses Bust-Up

"Lafontaine like other Eurocrats knew full well what he was doing when he helped inflict this monstrous mess. The result has been of late bloodshed, massive unemployment, the ruin of whole families, the disruption of the hopes and dreams of literally hundreds of millions. Europe lies in ruins with no near-term hope of recovery and European cultures and prosperity are being flattened by this damnable Euro dreadnaught. Only one thing is 'up' in Europe these days it sometimes seems. And that is suicides. And Lafontaine is sorry. And he has changed his mind." Continue reading →

Continue ReadingGlobalist Euro Disaster: Euro Founder Endorses Bust-Up

20 Signs That The Next Great Economic Depression Has Already Started In Europe

"The truth is that Europe is a lot like the United States. We are both drowning in unprecedented levels of debt, and we both have overleveraged banking systems that resemble a house of cards. The reason why the U.S. does not look like Europe yet is because we have thrown all caution to the wind. The Federal Reserve is printing money as if there is no tomorrow and the U.S. government is savagely destroying the future that our children and our grandchildren were supposed to have by stealing more than 100 million dollars from them every single hour of every single day. But the alternative scares the living daylights out of our politicians." Continue reading →

Continue Reading20 Signs That The Next Great Economic Depression Has Already Started In Europe

Greece’s great fire sale

"The idea of snapping up a Greek island certainly has its appeal. In March the Emir of Qatar bought six for £7 million, while a Russian oligarch bought Skorpios – previously owned by the Onassis family – earlier this month for a reported £65 million, as a present for his 24-year-old daughter Ekaterina Rybolovlev. To that end, the royal palace on Corfu, where Prince Philip was born, is now also for sale. So too is a large coastal estate which, the government boasts on its website, is next door to land owned by the Rothschild banking dynasty. Officials refuse to discuss prices, saying that it depends on offers and the development proposals." Continue reading →

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Vast Greek war claims against Germany explode like a ‘time-bomb’

"Premier Antonis Samaras held a special meeting with the foreign minister Dimitris Avramopoulos and other key officials this morning to limit the diplomatic damage from the 80-page report. The document – stamped 'Aporito', or secret – was drafted by a panel of experts appointed by the Greek finance ministry and delivered to officials last month. The alleged claim against Germany reaches a grand total of €162bn, including €108bn for rebuilding the country’s infrastructure after the Nazi occupation from 1941 to 1944. This is 80pc of Greek GDP." Continue reading →

Continue ReadingVast Greek war claims against Germany explode like a ‘time-bomb’