Europe

Bulgarian Spring: Self-Immolations Highlight a Desperate Electorate

"Hundreds of thousands have taken to the streets nationwide, with up to 30,000 demonstrating in Varna, a large city and seaside resort on the Black Sea coast. Old boys' networks left over from the communist era have divided the country among themselves. They dominate the parliament and government agencies, they secure the best contracts for themselves, they threaten the press and they are in league with organized crime. Bulgaria is the poorest country in the European Union, with a stagnating economy. Up to half a million Bulgarians have already emigrated." Continue reading →

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German Euro-Skeptic Party Gaining Ground

"The anti-euro party 'Alternative for Germany' (AfD) was officially founded just a few weeks ago, but it has clearly struck a nerve: It already numbers 10,476 members, SPIEGEL has learned -- some 2,800 of which have switched allegiance from Germany's established parties. As elections loom later this year, Alternative for Germany is making waves with an agenda that includes dissolving the euro currency zone and returning powers from Brussels to EU member-states. Although a survey released on Tuesday showed the party's support is currently barely nudging 4 percent, its rapidly swelling ranks could end up significantly altering the country's political landscape." Continue reading →

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Sweden’s War on Cash: News from the Frontlines

"Three of the four largest banks in Sweden continue to phase out the manual handling of cash at their branch offices at a rapid pace. Taken together, Swedbank, Nordea, and SEB, have stopped offering cash services at their branches at the rate of three branches per week since 2010. Thus during the period 2010-2012, cash disappeared from 465 Swedish bank branches. At Swedberg bank, only 75 of its 340 branches still handle cash. Leif Faithful, Head of Financial Infrastructure at the Swedish Bankers’ Association, believes that eventually all Swedes will need a bank card and sees this development as beneficial to 'both consumers and trade.'" Continue reading →

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Spain refuses to extradite Swiss bank data ‘thief’

"A Spanish court refused on Wednesday to extradite a former HSBC bank employee to Switzerland where he is wanted for allegedly stealing data that exposed thousands of suspected tax dodgers. Hervé Falciani, a 40-year-old French-Italian, was arrested in Barcelona in July 2012 after he arrived by boat from France. Switzerland asked for Falciani to be extradited to face charges of violating Swiss banking secrecy laws and revealing industrial secrets. Spanish prosecutors had opposed Falciani's extradition on the grounds that he was helping authorities investigate tax fraud and because banking secrecy was abolished in Spain in 1977." Continue reading →

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Nigel Farage: Nigel Lawson calls time on the three-pint Eurosceptic heroes

"When a group of unknown political players set up Ukip in 1993, the idea that the UK might someday re-establish its independence and leave the European Union was at best a minority pursuit. Now, no less a man than Lord Lawson advocates the idea, and validates Ukip’s arguments. Clearly nobody now doubts that it is a valid position. The reaction to Lord Lawson’s view has been to ask what damage it will do internally, to David Cameron’s embattled Conservative Party, and there has been speculation about the timing of the statement. Rarely has such a chasm opened up in British political history. The Europe divide has echoes of earlier times; it is Big Politics, writ in a digital age." Continue reading →

Continue ReadingNigel Farage: Nigel Lawson calls time on the three-pint Eurosceptic heroes

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 →

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Federal Europe will be ‘a reality in a few years’, says commission president

"The president of the European Commission has fanned the flames of British debate over EU membership by insisting that fiscal union in the eurozone will lead to 'intensified political union' for all 27 member states. 'This is about the economic and monetary union but for the EU as a whole,' he said. 'The commission will, therefore, set out its views and explicit ideas for treaty change in order for them to be debated before the European elections.' 'We want to put all the elements on the table, in a clear and consistent way, even if some of them may sound like political science fiction today. They will be reality in a few years' time.'" Continue reading →

Continue ReadingFederal Europe will be ‘a reality in a few years’, says commission president

European Commission to criminalize nearly all seeds and plants not registered with government

"A new law proposed by the European Commission would make it illegal to 'grow, reproduce or trade' any vegetable seeds that have not been 'tested, approved and accepted' by a new EU bureaucracy named the 'EU Plant Variety Agency.' It's called the Plant Reproductive Material Law, and it attempts to put the government in charge of virtually all plants and seeds. Home gardeners who grow their own plants from non-regulated seeds would be considered criminals under this law. Gardeners must also pay fees to the EU bureaucracy for the registration of their seeds." Continue reading →

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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 →

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Small-Town Mayor’s Millions as Exhibit A on Graft in Spain

"Investigators calculate that she and other family members accumulated about $24 million, mostly from shady land deals during Spain’s boom years. Searching her property, the police had to borrow a bill-counting machine from a local bank to help total up all the cash: $485,000. At a time when Spain, Italy, Greece and Portugal are imposing deficit-cutting austerity plans on their hard-pressed citizens, these revelations of widespread political corruption are stoking bitter resentment, destabilizing governments and undermining the credibility of the political class as a whole." Continue reading →

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