Europe

Germany stops Icelandic whale meat shipment to Japan in environmentalist victory

"Six containers of whale meat are on their way back to Iceland after German authorities removed the controversial cargo from a ship bound for Japan, Icelandic media reported on Friday. The batch was first stopped by German customs in Hamburg, where the containers were unloaded and then sent back via Rotterdam in the Netherlands. 'Transportation of products between Iceland and Japan is in accordance with international law,' Foreign Minister Gunnar Bragi Sveinsson told RUV. Iceland 'will now consider how to react to the transport of whale products being stopped and will stand firmly on Icelandic interests in this matter,' he added." Continue reading →

Continue ReadingGermany stops Icelandic whale meat shipment to Japan in environmentalist victory

Iceland’s EU bid is over, commission told

"Iceland's bid to join the EU is over, the country's foreign minister told the European Commission on Thursday (13 June). Speaking during a frosty press conference with reporters on Thursday (13 June), Stefan Fule, the Czech commissioner responsible for EU membership bids, admitted that Iceland's decision was a personal blow. The April election, which was won decisively by the centre-right Independence party and the Progressive party, was viewed as a vote against EU membership. Opinion polls indicate that only 25 percent of Icelanders support EU membership." Continue reading →

Continue ReadingIceland’s EU bid is over, commission told

Constitutional crisis pushes Portugal closer to the brink

"Yields on 10-year Portuguese bonds jumped to 7.85pc in a day of turmoil, kicked off by a government request to delay the next review of the country’s EU-IMF Troika bail-out until August. President Anibal Cavaco Silva set off a constitutional crisis when he vetoed a reshuffle by the two conservative coalition parties, insisting on a red-blue national unity government with greater legitimacy to see through austerity cuts until mid-2014. Socialist leader Antonio José Seguro has so far refused to take part, demanding fresh elections to clear the air. Some Socialist leaders have threatened debt repudiation as a way of fighting back at Germany and the creditor powers." Continue reading →

Continue ReadingConstitutional crisis pushes Portugal closer to the brink

South American states to recall ambassadors from Europe over Bolivian plane incident

"South American countries belonging to the Mercosur trade bloc have decided to withdraw their ambassadors for consultations from European countries involved in the grounding of the Bolivian president’s plane. 'We've taken a number of actions in order to compel public explanations and apologies from the European nations that assaulted our brother Evo Morales,' explained Venezuela's President Nicolas Maduro, who revealed some of the agenda debated during the 45th summit of Mercosur countries in Uruguay's capital, Montevideo." Continue reading →

Continue ReadingSouth American states to recall ambassadors from Europe over Bolivian plane incident

European Car Sales Fall to 20-Year Low Amid Unemployment

"European car sales fell to a 20-year low in May as record joblessness caused by a recession in the euro area reduced demand at PSA Peugeot Citroen (UG), Renault SA (RNO), Fiat SpA (F)and General Motors Co. (GM) Registrations dropped 5.9 percent to 1.08 million vehicles from 1.15 million a year earlier, the Brussels-based ACEA said today. The figure was the lowest for the month since 1993. The ACEA compiles data for the 27-nation EU plus Switzerland, Norway and Iceland. Peugeot, Renault, Fiat and GM’s deliveries fell at least 10 percent in the region last month as price cuts failed to attract buyers." Continue reading →

Continue ReadingEuropean Car Sales Fall to 20-Year Low Amid Unemployment

Germany’s Bitcoin.de and Fidor Bank AG form partnership

"German bitcoin marketplace bitcoin.de and Fidor Bank AG have formed a large-scale partnership, with the online bank agreeing to provide a ‘liability umbrella’ to the marketplace operator Bitcoin Deutschland GmbH. This means the marketplace can prove it is officially following financial market regulations, such as anti-money laundering legislation. bitcoin.de hopes to lead the way as an EU-regulated trading platform with an EU deposit guarantee (up to 100,000 EUR per customer)." Continue reading →

Continue ReadingGermany’s Bitcoin.de and Fidor Bank AG form partnership

Rights groups challenge widespread Internet spying in France

"Lawyers said the International Federation of Human Rights (FIDH) and the Human Rights League would file the ‘complaint against X’ in Paris. Under French law, such complaints allow investigators to pursue a wide-ranging probe that does not target any particular individual or company. Daoud told France Info radio the complaint was aimed at determining whether 'the companies made their servers available to the FBI and NSA' for collection of personal data. If so, he said, the companies could face criminal charges in France of violating data protection and privacy rules." Continue reading →

Continue ReadingRights groups challenge widespread Internet spying in France

Austrian Steelmaker Offshores Production To … Texas

"Like many titans, the company is under pressure to increase profits while revenues are declining. Hence the need to cut costs. One solution: offshoring to cheap countries! The company announced in its annual report that it would undertake 'its largest ever foreign investment – construction of a direct reduction plant,' not in cheap countries like China or Indonesia, but in Texas. The plant will employ 150 people. The price of natural gas in the US is 'about one quarter of the price in Europe,' the company conceded. It would allow the company to produce low-cost HBI for its plants in Linz and Donawitz and ensure 'their competitiveness in the long term.'" Continue reading →

Continue ReadingAustrian Steelmaker Offshores Production To … Texas

The situation on the ground in Athens

"The total number of unemployed is roughly 57% of the entire Greek work force. And as you probably know, the situation for young people is even worse. Only 1 in 3 people aged 25 and under has a job. This phenomenon, sustained for several years now, has cut deeply into the psyche of an entire generation that is growing up without productive work experience or the prospect of improving their lives. The middle class here has been completely gutted. Aside from a few pockets of wealth, the country is either unemployed or working poor, hamstrung by debilitating debt. The suicide rate here has skyrocketed, crime is noticeably higher, and prostitution is rampant." Continue reading →

Continue ReadingThe situation on the ground in Athens