Europe

Italy’s Political Scandals Rattle Public Trust

"Many of the current scandals have their origins in a 2001 law meant to promote greater federalism and, theoretically, more local accountability. The measure, which handed out generous state financing without requiring that the regions raise much money on their own, backfired badly, fostering reckless spending throughout the country. With the creation of Italy’s provinces in 1970, and especially in the years after 2001, the cost of regional governments exploded. The salaries of Italy’s 1,113 regional lawmakers expanded as well, to $4,000 to $6,500 a month, and often double that with added benefits." Continue reading →

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British ‘End of Life’ Panels Are Bad News for Everyone

"General practitioners are being encouraged by the Government Department of Health to make lists of people who they believe are not going to live long. But that's not all. There are other unmistakable statements in the report that make it clear the mandate to provide end-of-life care is going to be aggressively implemented throughout the British state-run health care system. Death programs are like any other government service, actually. They will be continually expanded and made more complex to ensure the expansion of the departments in question. Eventually, people could die simply to ensure that a department meets certain quotas." Continue reading →

Continue ReadingBritish ‘End of Life’ Panels Are Bad News for Everyone

Google threatens to drop links to French media if pay-per-link law passes

"Internet giant Google has warned it would exclude French media sites from its search results if France adopts a law forcing search engines to pay for content, in the latest confrontation with European governments. A letter sent by Google to several French ministerial offices this month said it 'cannot accept' such a move and the company 'as a consequence would be required to no longer reference French sites,' according to a copy obtained by AFP. France’s new Socialist government, which is open to helping struggling media companies, warned Google that it should not threaten democratic governments." Continue reading →

Continue ReadingGoogle threatens to drop links to French media if pay-per-link law passes

French Jews to sue Twitter over anti-Semitic tweets following German neo-Nazi ban

"Twitter, a day after saying it blocked a neo-Nazi group’s account in Germany in a global first, faced a new battle Friday in France where Jewish students are taking it to court to force it to remove anti-Semitic messages. The hashtag #unbonjuif — which in English means 'a good Jew' — has been one of the top trending words on French-language tweets and is often followed by offensive comments such as: 'A good Jew can pump up your tyre with his nose.'" Continue reading →

Continue ReadingFrench Jews to sue Twitter over anti-Semitic tweets following German neo-Nazi ban

More Greek firms eye low-tax Switzerland

"The Swiss fiscal policy has infuriated Brussels, as the European Union sees businesses fleeing EU countries to the tax haven of Switzerland. According to Swiss laws, foreign firms which set up in the country pay €51 billions ($66 billion) less in taxes per year than Swiss companies, said a Swiss television report. Setting an ultimatum, Brussels has given Switzerland until December 13th, when a European summit is held, to present a programme aimed at dismantling such privileges which are judged discriminatory and anti-competitive." Continue reading →

Continue ReadingMore Greek firms eye low-tax Switzerland

French business erupts in fury against “disastrous” François Hollande

"France is sliding into a grave economic crisis and risks a full-blown 'hurricane' as investors flee rocketing tax rates, the country’s business federation has warned. Spending has risen to 55pc of GDP, similar to Sweden but without Nordic labour flexibility. French economic growth has been near zero for the past five quarters. It may have tipped into recession over the summer as the malaise spread from Italy and Spain. New car registrations were down 7.7pc in the third quarter from a year earlier. Unemployment has reached a post-euro high of 10.6pc. The fear is that a fiscal shock in 2013 will tip the economy into a sharp downward slide." Continue reading →

Continue ReadingFrench business erupts in fury against “disastrous” François Hollande

420,000 People Say Adiós to Spain

"The parasite is definitely overwhelming the hosts in Spain. In response to the economic crisis ravaging Spain, approximately 420,150 people have emigrated from Spain since January, according to the National Statics Institute (INE). 54,912 of those that have left are Spanish citizens — meaning that over 10,000 have left since earlier estimates this summer. That's also a 21.6 percent increase from 2011." Continue reading →

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The Debt Transfer Game; Slovakia Needs EUR 264M for ESM

"Slovakia has less than 10 days left to find the EUR 264 million as the first two payments to the the European Stability Mechanism, the EU bailout system. Ironic as it is, Slovakia will have to put itself in debt in order to cover its commitment to the EUR 700 billion ESM, which has been set up to deal with debts of countries in trouble, but can now also be used to bail out banks. The government plans to issue government bonds to raise the required finances at a time when it is also trying to reduce the public finance deficit by introducing a whole series of new taxes and levies." Continue reading →

Continue ReadingThe Debt Transfer Game; Slovakia Needs EUR 264M for ESM

Europe Puts Squeeze on Iran Regime

"The European Union reached a preliminary deal Friday on a broad package of new sanctions on Iran in a fresh push to force Tehran to the negotiating table over its nuclear activities, EU diplomats said. They are set to be signed off Monday when foreign ministers meet in Luxembourg. The new round of sanctions is among the toughest yet adopted against Iran and comes as diplomatic efforts to negotiate a solution to Iran's nuclear program have stalled. The stepped-up European sanctions pressure comes as the U.S. Congress looks to further tighten the economic pressure on Iran." Continue reading →

Continue ReadingEurope Puts Squeeze on Iran Regime