Mainstream News

Germany defends ‘strictly legal’ cooperation with NSA

"Angela Merkel's government said on Monday that its cooperation with American intelligence was fully regulated by strict legal guidelines after a magazine reported that the U.S. National Security Agency was in close cahoots with German spies. Germany's opposition demanded that her government explain how much it knew about U.S. surveillance tactics ahead of talks with Washington about the NSA. Der Spiegel's report that the NSA works with Germany and other Western states on a 'no questions asked'-basis undermines the chancellor's indignant talk of 'Cold War' tactics revealed by former NSA contractor Edward Snowden." Continue reading →

Continue ReadingGermany defends ‘strictly legal’ cooperation with NSA

U.S. considering speeding up Afghanistan pullout

"The United States is seriously considering speeding up the withdrawal of its forces from Afghanistan because of frustration with President Hamid Karzai, the New York Times reported. Obama’s relationship with Karzai has been deteriorating and suffered a big and new blow last month with an effort by the United States to open peace talks with the Taliban in Qatar. Karzai opposed the talks, and halted negotiations with the Americans on a long-term security deal needed to keep US forces in Afghanistan after 2014, the Times said." Continue reading →

Continue ReadingU.S. considering speeding up Afghanistan pullout

Pentagon puts 650,000 workers on unpaid leave due to cuts

"Heavy US government spending cuts took a sharp swing as the Pentagon began putting about 650,000 civilian workers on unpaid leave. The Department of Defense’s civilian employees face furloughs of up to 11 days through the end of the fiscal year on September 30. The pay pinch was expected to have the most immediate impact in areas with a large military presence, such as greater Washington DC, California and Texas. The International Monetary Fund last month assailed the sharp spending cuts as 'excessively rapid and ill-designed.'" Continue reading →

Continue ReadingPentagon puts 650,000 workers on unpaid leave due to cuts

Somali American caught up in a shadowy Pentagon counterpropaganda campaign

"With the Iraq war over and U.S. combat operations scheduled to finish in Afghanistan by the end of next year, the Pentagon has begun shifting psy-ops missions to other parts of the world to influence popular opinion. In the past, psychological operations usually meant dropping leaflets or broadcasting propaganda on the battlefield. Today, the military is more focused on manipulating news and commentary on the Internet, especially social media, by posting material and images without necessarily claiming ownership. Much of the work is carried out by military information support teams that the Special Operations Command has deployed to 22 countries." Continue reading →

Continue ReadingSomali American caught up in a shadowy Pentagon counterpropaganda campaign

Supreme Court asked to suspend NSA and FBI’s blanket collection of phone data

"The US supreme court will be asked to suspend the blanket collection of US telephone records by the FBI under an emergency petition due to be filed on Monday by civil rights campaigners at the Electronic Privacy Information Center (Epic). Previous attempts to appeal against the rulings of these courts have floundered due to a lack of public information about who might be caught up in the surveillance net, but the disclosure of specific orders by National Security Agency whistleblower Edward Snowden has opened the door to a flurry of new challenges. It comes as a similar legal challenge was filed in Britain on Monday." Continue reading →

Continue ReadingSupreme Court asked to suspend NSA and FBI’s blanket collection of phone data

Brazil confirms investigation into reports of NSA spying

"Brazil is to investigate reports of US electronic spying on its citizens, with President Dilma Rousseff saying that, if proven, such action would constitute a violation of sovereignty. Her comments came after the daily O Globo reported Sunday that the US National Security Agency spied on Brazilian residents and companies as well as people traveling in the country. The newspaper cited documents leaked by the fugitive former NSA contractor Edward Snowden. Rousseff confirmed that the National Telecommunications Agency and federal police have been ordered to probe the reports." Continue reading →

Continue ReadingBrazil confirms investigation into reports of NSA spying

White House dodges questions of Egyptian ‘coup’ as military aid continues

"The Obama administration attempted to sidestep questions over the legality of military aid to Egypt on Monday, claiming it was not in its 'best interests' to decide yet whether the armed overthrow of the country’s elected president amounted to a coup or not. US law prevents any administration providing support to the leaders of a military coup, but the White House announced it will not suspend foreign aid to Egypt for now, pending further review. 'We have had a long relationship with Egypt and the Egyptian people and it would not be wise to abruptly change our assistance programme,' said spokesman Jay Carney." Continue reading →

Continue ReadingWhite House dodges questions of Egyptian ‘coup’ as military aid continues

Irish ‘rage’ after bank cheated on multi-billion bailout

"The taped conversations, obtained by the Irish Independent newspaper, between John Bowe and Peter Fitzgerald, who led Anglo-Irish's capital markets and retail banking arms, respectively, indicate the Irish government was duped into pumping €7 billion of emergency cash into the bank on the assumption that it would plug the lender's funding crisis. But the €7 billion figure was just a ruse to get the government to put 'some skin in the game,' with the bankers assuming that politicians would have no choice but to provide further emergency funding once they had been 'pulled in'." Continue reading →

Continue ReadingIrish ‘rage’ after bank cheated on multi-billion bailout

Italy Denies Risk to Public Finances From Debt Derivative Deals

"Italy's treasury denied on Wednesday its use of derivatives as a hedge on its huge debt pile posed any risk to public finances, following reports the country faced billions of euros in potential losses from one set of contracts. The Financial Times and La Repubblica said the eight contracts, restructured at the height of the euro zone crisis in 2012, could result in combined losses of around 8 billion euros ($10.5 billion) based on market prices on June 20. The newspapers, which quoted a report from the treasury, said the contracts had been taken out in the 1990s, some while European Central Bank president Mario Draghi was director general of the Italian treasury." Continue reading →

Continue ReadingItaly Denies Risk to Public Finances From Debt Derivative Deals

Dollars Vanish as Tourists Grab Argentine Bondholder Cash

"Argentina’s supply of dollars it needs to pay bondholders is dwindling at the fastest pace since the depths of the nation’s economic crisis 11 years ago. Since Fernandez banned buying dollars for everything but travel since July, the nation has posted a deficit from tourism revenue of $223 million this year through April, a 10-fold increase from a year ago, as more Argentines went abroad to buy dollars at a cheaper exchange rateand the nation attracted fewer visitors. On the black market, a dollar costs 8.05 pesos compared with the so-called 'tourist dollar,' which is the official rate plus a 20 percent tax on credit cards, or about 6.44 per dollar." Continue reading →

Continue ReadingDollars Vanish as Tourists Grab Argentine Bondholder Cash