Europe

Iran plans to phase out dollar, euro in foreign trade: Econ. min.

"Iran's Minister of Economic Affairs and Finance Shamseddin Hosseini says the country plans to phase out dollar and euro in its future international transactions after the US and the European Union (EU) imposed sanctions on Iran. '[Iranian] government has made up its mind to phase out vehicle currencies such as dollar and euro in its [foreign] trade,' Hosseini told reporters. He added that after the imposition of sanctions on Iran by the US and the EU, the Central Bank of Iran (CBI) immediately moved to change the country's hard currencies reserves into euro and gold which 'was beneficial to the country.'." Continue reading →

Continue ReadingIran plans to phase out dollar, euro in foreign trade: Econ. min.

French capital flight spikes as Hollande hits business

"Simon Ward from Henderson Global Investors said the net loss of funds was €53bn (£43.8bn) over the two months, roughly the period when Mr Holland unveiled a string of tax rises and suffered a collapse in relations with French business. A key gauge of the French money supply -- six-month real M1 -- has been contracting at an accelerating rate ever since Mr Holland's election in May. It has fallen to levels last seen in the depths of the crisis in 2008. France's money data is now flashing more serious warnings than numbers in Italy or Spain." Continue reading →

Continue ReadingFrench capital flight spikes as Hollande hits business

Westerners Kidnapped in North Africa — but Is France the Real Target?

"Tightened security measures sent hundreds of armed soldiers patrolling Metros, train stations, airports and tourist sites across France, while officials instructed the French people to be wary of the increased risk of attack at home — and abroad. News reports indicated Islamist radicals had kidnapped numerous French, European, and American workers from an oil installation in eastern Algeria. Somalia’s al-Shabab militia also announced it would execute a French spy. Those developments came after warnings by a jihadi leader in Mali on Monday that by attacking Islamist forces in Africa, 'François Hollande opened the gates of hell for all French people.'" Continue reading →

Continue ReadingWesterners Kidnapped in North Africa — but Is France the Real Target?

Honi Soit Qui ‘Mali’ Pense

"The United States, incapable of allowing a military intervention to pass by without jumping on board, dutifully followed France in the Libya debacle, blowback from which was responsible for the re-igniting of the Touareg rebellion in Mali. What do the Touaregs have that is causing such stirring in France's colonial loins? France is dependent on nuclear power for 75 percent of its energy needs. The larger African region controlled by the Touareg, including particular in Niger, contains tons and tons of that substance that brings back memories of the Bush administration's Iraq lies: uranium." Continue reading →

Continue ReadingHoni Soit Qui ‘Mali’ Pense

France adopts words of war by vowing to ‘destroy terrorists’

"With its talk of 'destroying' enemies and confronting 'jihadi terrorists', France has adopted a language of war for its intervention in Mali that few expected from Socialist President Francois Hollande. As French warplanes carry out airstrikes and French troops clash with Islamist rebels in the West African country, Hollande and his ministers seem to have taken a page from former US president George W. Bush’s playbook on war-time communications. French media reported that ministers have been banned from using the words 'Islamist fighters' in statements on the conflict and must always refer to rebels as 'terrorists'." Continue reading →

Continue ReadingFrance adopts words of war by vowing to ‘destroy terrorists’

Vatican Goes ‘Cash Only’ Because of Lack of Money-Laundering Controls

"Museums and businesses in the Holy See have been declining credit card and debit card purchases following a decision by the Bank of Italy that is reportedly linked to concerns over inadequate money-laundering controls. Cash machines have also been shut down after the Italian central bank refused authorization for Deutsche Bank’s Italian unit to continue operating services it provided within the Vatican’s walls. The banking freeze, which has prompted the move to cash-only transactions, has prompted speculation in the Italian press that a fresh scandal is about to erupt involving the ministate’s still-shadowy finances." Continue reading →

Continue ReadingVatican Goes ‘Cash Only’ Because of Lack of Money-Laundering Controls

Panetta: US Has ‘Responsibility’ to Support French Offensive in Mali

"The White House and Pentagon have a 'responsibility' to provide support to French forces looking to push out al Qaeda-linked militants out of northern Mali and ensure the terror group does not gain a foothold in western Africa, Defense Secretary Leon Panetta said today. Panetta commended French forces to taking action in Mali, noting the Pentagon and White House were 'engaged in discussions' with Paris over what kind of support may be needed. Over the weekend, France began military airstrikes in Mali, targeting rebel training camps and other targets. Some French troops are already on the ground and more are being deployed to the area." Continue reading →

Continue ReadingPanetta: US Has ‘Responsibility’ to Support French Offensive in Mali

Americans Realize Washington Is the Problem, Support Cap to Control Spending

"Here’s some new polling data that seems very encouraging. Americans, by an overwhelming margin, think that Washington is causing serious harm to the nation. That same poll also found strong support for a limit on federal spending, which warms my heart since I’ve been trying to build support for a Swiss-style spending cap in America. I also was shocked to see another poll that found French and Italians were more supportive of spending cuts than Americans." Continue reading →

Continue ReadingAmericans Realize Washington Is the Problem, Support Cap to Control Spending

German activists start campaign to destroy surveillance cameras

"German activists are attempting to destroy security cameras in anticipation of the European Police Congress in Berlin in February, according to Michael Ebeling, an opponent of public surveillance writing for France 24′s The Observers. The group organizing the actions, CAMOVER, believe such cameras lead police to discriminate and use stereotypes in search of criminals and criminal activity. They are encouraging people to participate in the 'game' until Feb. 19, when the congress convenes. The country’s Interior Ministry claims the cameras have been shown to reduce crime by almost 20 percent." Continue reading →

Continue ReadingGerman activists start campaign to destroy surveillance cameras

China Overtakes Sluggish Europe in Car Sales

"It's no secret that Europe's automobile industry isn't exactly booming. Several carmakers on the Continent are struggling as demand has fallen off during the euro crisis, particularly in southern European countries, where austerity programs have taken a bite out of prosperity. In China, however, more and more cars are flying off the lots. And in 2012, for the first time ever, Chinese consumers purchased more automobiles than did buyers in Europe, according to the dailySüddeutsche Zeitung, citing an unpublished report by Germany's VDA automobile industry association." Continue reading →

Continue ReadingChina Overtakes Sluggish Europe in Car Sales