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€xtreme Moves: Eurozone crisis far from over amid ravaging austerity & debts

In Spain and Greece the situation is particularly drastic with over half of people under 25 out of a job. Both countries also rely heavily on Brussels for financial help - with Athens looking at the prospect of a third bailout deal. Across the region, people are weary of austerity cuts, and we've seen plenty of public discontent and mass protests.

€xtreme Moves: Eurozone crisis far from over amid ravaging austerity & debts

Greece: Construction slump drags on, jobless youth at 60%

The jobless rate rose for a 39th consecutive month to a new record of 25.4% in August, more than double the euro zone average.

Irish were gripped by greed, says bank boss

Irish boss of a leading Swiss bank has said that Ireland since the beginning of the 2000s was gripped by greed, complacency and materialism.

Germany rules out further Greek debt write-off

Berlin has ruled out allowing public creditors to write off Greek debt as a way of helping the country overcome its financial woes. However, Germany’s finance minister said he is open to other ways of helping Athens.

ECB: Crisis nations have lost their sovereignty

The head of the European Central Bank (ECB) on Sunday threw his weight behind a German scheme to allow the EU to intervene in countries' budgets and propose changes before they are agreed in parliaments.

Spain's unemployed rate above 25% for the first time - and more than half of young people are out of work

The unemployment rate in Spain is above 25 per cent for the first time - with more than half of young people out of work, new figures have revealed.

Francois Hollande holds crisis talks after 'worst week' for bruised party

Factory closures and spending deficit have fuelled voters' doubts over ability of president to lead country to recovery

Dogma is that Europe needs to stay together

Russia Today talks to Max Otte - professor of general and international business administration. He's discussing the current EU financial troubles as well as Germany's role in the crisis.

'Dogma is that Europe needs to stay together'

Friction at IMF meeting as global economic outlook worsens

The annual meeting of the International Monetary Fund (IMF) and World Bank, which concluded in Tokyo yesterday, was marked by growing divisions between the major powers amid a worsening outlook for the world economy.

Before the meeting even began, tensions between China and Japan over the disputed Senkaku/Diaoyu islands in the East China Sea led to a decision by China’s central bank governor Zhou Xiaochuan not to attend.

Athens Anger: 'Greek police rhetoric reminds of military dictatorship'

Police fired tear gas as angry protesters clashed with officers in Athens as thousands rallied in the Greek capital in protest against German Chancellor Angela Merkel's visit. Merkel is in Athens for austerity talks with the country's Prime Minister.

Athens Anger: 'Greek police rhetoric reminds of military dictatorship'

Greece may seek Spanish-style rescue of banks as part of debt crisis solution

Greece could return cap-in-hand to its European partners for a Spanish-style rescue of its ailing banking sector despite receiving billions of euros in bailout loans.

The Waning of the Modern Ages

The “arc” of capitalism, is about 600 years long, from 1500 to 2100. It is our particular (mis)fortune to be living through the beginning of the end, the disintegration of capitalism as a world system. It was mostly commercial capital in the sixteenth century, evolving into industrial capital in the eighteenth and nineteenth centuries, and then moving on to financial capital—money created by money itself, and by speculation in currency—in the twentieth and twenty-first. In dialectical fashion, it will be the very success of the system that eventually does it in.

Greek unemployment rate hits 23.6 percent in second quarter

Greece’s official jobless rate has soared in the second quarter of this year as the country is suffering from its worst postwar recession and faces bankruptcy plus a potential exit from the Euro area.

Over a million protesters demand Catalonian independence

A million and a half people took to the streets of Barcelona, according to police estimates, to demand independence for the autonomous Spanish region of Catalonia as the country as a whole faces crippling debt.

EU official calls for member nations to hand over control of their banks and remainder of their sovereignty

European Union officials are asking national governments to give up control of their banks as they try to pull the region closer together to solve its crippling financial crisis.

Egyptians tell Morsi to keep election promises

Hundreds of teachers and university professors in Egypt have staged a demonstration to call on President Mohamed Morsi to fulfill his election promises.

In Italy, world’s oldest bank faces uncertain future

The 540-year-old Monte dei Paschi Bank, Italy’s third-largest, is on the ropes as it struggles to deal with holdings of Italian bonds, once considered a prudent place to tuck cash.

U.S. Companies Brace for an Exit From the Euro by Greece

Even as Greece desperately tries to avoid defaulting on its debt, American companies are preparing for what was once unthinkable: that Greece could soon be forced to leave the euro zone.

Italian miner slits wrist on live TV to protest mine shutdown

A Sardinian miner has slashed his wrist during a live TV address in protest against the closing of a local facility. Some 100 workers barricaded themselves in front of the mine, which is packed with almost 700 kilograms of explosives.

Video: Italian miner slits wrist on live TV to protest mine shutdown

Debt crisis: Italian cash-for-gold shops quadruple as financial crisis deepens

Crisis-hit Italy has seen the number of cash-for-gold shops quadruple in the last two years, according to an Italian think tank, with some cash-strapped citizens forced to sell their gold teeth to make ends meet.

The Austerity Hoax

The longer fiscal pain continues, the closer an ultimate day of reckoning approaches. It'll arrive disruptively. Perhaps people will recognize that throwing out bums for new ones accomplishes nothing.

Israel gearing up for financial crisis of attack on Iran: Bank of Israel

Bank of Israel Governor Stanley Fischer says the financial system of the Israeli regime is preparing for “a major crisis and for [the] security situation” that Tel Aviv may face following an attack on Iran's nuclear facilities.

Troika officials praise Greece for progress with cuts

Greece has made progress in finding budget cuts needed to continue its bailout programme but not all work is done and inspectors will return in September for a final verdict, troika officials said yesterday.

Nearly a quarter of Spanish workforce is jobless as unemployment levels hit record high

Spain’s unemployment rates have hit 25 per cent – the highest since records began after Generalissimo Franco's dictatorship.

Eurozone crisis risk map: 'Extremely exposed' UK has more to lose than any other nation

The United Kingdom is more vulnerable than any other world nation to a worsening eurozone crisis and its economy would be hit the most if the euro falls apart - that was the verdict of new research today.

Thanks to its reliance on exports to the euro area and strong banking and financial links with the region, Britain tops a danger list of countries exposed to the eurozone (see map and table below), compiled by risk analysis consultancy Maplecroft.

Spain edges closer to disaster as the euro crisis spreads (and Greece is facing a 1930s-style depression)

The Eurozone was back on the brink last night as Spain edged towards a financial disaster that could tear the single currency apart.

Eroding Social Justice in Spain

Along with Greece, Spain represents the epicenter of decaying Western societies. Multiple rounds of social spending cuts reflect Prime Minister Mariano Rajoy's war on his own people.

Complicit parliamentarians go along. At issue is class warfare, transferring household wealth to bankers, other corporate predators, and privileged elites, eroding Spain's middle class, and destroying a whole youth generation and perhaps others to come. More on this below.

Spaniards protest angrily against what no one should tolerate. They're back after the latest announced austerity package.

Embattled Spain tries to calm fears of run on deposits at bank

Moody's downgrades four regions as reports say €1bn taken from bailed-out Bankia

Australia's Decline into Fascism

Max Igan on Surviving The Matrix, March 9, 2012

Australia's Decline into Fascism - 1/4

European markets plunge as Greece threatens to default

Bourses across Europe shed more than 3pc each as Greece said it was ready to impose the €206bn restructuring on bondholders who do not vote for it by the 8pm GMT deadline on Thursday.


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