Tag Archives: greece

Business/Economics, International, U.S.

What Economic Recovery? Greek Unemployment breaks Records! 60,000 companies went bust!

On May 10, 2012, the Greek Statistical Authority revealed that unemployment continued upward to record levels.

For February 2012, unemployment was at an official record high of 21.7%!

But wait, there’s more!  The reason for the record breaking unemployment was that 60,000 Greek companies went out of business in 2011!  60,000!

Greek business associations say another 60,000 could go bust in 2012!  They blame it all on the “austerity” cuts the Trilateral Commission control government is imposing upon the people of Greece.

On May 6, Greek voters voted to get rid of the U.S. based Trilateral Commission controlled ruling party, but now efforts to create a new government have stalled.

Business/Economics, International, U.S.

Oil & Gas Prices: Iran officially stops oil shipments to Spain & Greece. Germany and Italy next.

April 10, 2012, Iran has officially halted oil exports to Spain and Greece.

The official government announcement comes after Iran canceled oil shipments to two Greek companies on April 5.

Back on March 16 Iran had named the next countries on its oil export ban list.  Those countries are Greece, Italy, Netherlands, Portugal and Spain.  This is in retaliation for the up coming European Union oil sanctions that go into effect on July 1.

Iran had already halted oil shipments to France and United Kingdom back in February.

According to an April 10 Reuters report, Iran is now considering halting oil exports to Germany as well.

 

Business/Economics, International

Class Warfare & Privatization: Greek police now operate on rental bases

“…with the decision of Ministers of Protection and Finance, the Greek police is available for hire by private clientele. However, this means if the Greek police is hired by those who can afford it, there are no available forces for those who cannot.”-Proto Thema, Greek news media outlet

The Greek news media outlet Proto Thema reporting that Greek cops will now be rented out.

Greek officials claim this is the only way they can continue to fund law enforcement.

The cost: About $39 USD per hour for one cop, additional $13 if you need a cop car.

Police patrol boat $261 per hour.

Police helicopter $1,960 per hour.

As you can see, only the elites can afford police protection now, and the “people” are still being forced to pay taxes for such “police protection” that they now won’t get!

Greek officials say they have to go with the rent-a-cop plan because crime has skyrocketed, no shit Sherlock, youth unemployment in Greece is at 50%!

Business/Economics, International, Technology, U.S.

Oil & Gas Prices: Iran cuts oil shipment to 4 more European countries! SWIFT retaliation? U.S. to sanction India

March 16, 2012, Iran’s Oil Ministry announced it will stop oil shipments to four more European Union members.

Back in February Iran stopped oil shipments to France and United Kingdom.  Iran had also named four other EU countries that could lose their Iranian oil shipments.

Iranian media reporting that Iran will now stop oil shipments to those other countries.  Those countries are Greece, Italy, Netherlands, Portugal and Spain.

I’ve heard that claim before, but this time it might be for real, and in retaliation for Iran’s exclusion from the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

“It is a direct result of international and multilateral action to intensify financial sanctions against Iran.”-Lazaro Campos, CEO SWIFT

The SWIFT move will affect about 30 Iranian banks.

Washington DC insiders say it’s likely the United States will sanction India, for refusing to take part in the U.S. led oil sanctions against Iran: “Given the level of trade, and in particular oil, between Iran and India, targeting an Indian entity that facilitates Iran’s access to the international financial market should be top of mind for the U.S. Treasury.”-Avi Jorisch, former Treasury Department official

According to the International Energy Agency, India and South Korea have greatly increased the amount of oil they’re buying from Iran.  Japan and South Korea are demanding exemptions from the U.S. oil sanctions, because British Petroleum was able to be exempted. (I told you Obama does not have the support of the International Community, as he claims)

 

 

Business/Economics, International, U.S.

Government/Corporate Evil: Greek taxes will increase, collections to be privatized, EU officials sending in the tax collecting troops

At the end of February the European Union said it was sending in tax collection forces to help the new, unelected Greek government take money from the people.

On March 15, 2012, the EU tax collection task force (including 160 German tax man troops!) said Greece has already collected about U.S.$1.2 billion.

On March 14, 2012, New Democracy party leader Antonis Samaras, said not only is the Greek government going to increase taxes, but they’re going to privatize the tax collection business: “If necessary we will get tax oriented companies like KPMG to help collect taxes. We have to make an appeal for outsourcing, even in collecting taxes and we’ll also try to make public employees more competitive.”

Making public employees “more competitive” is code for reducing their pay and benefits even more!  Now you know why the Greek people are still fighting in the streets.

KPMG is a Swiss company that specializes in tax collections. They have operations in the United States, and more than 150 countries!

 

 

Business/Economics, International, U.S.

World War 3 & Government Incompetence?: U.S. Senator calls for blocking all Iranian oil, even thought it would destroy U.S. allies. War with Iran is meant to allow the U.S. to become a major oil exporter

Days after a UBS oil analyst said ten countries (allies of the U.S.) would be destroyed if Iranian oil was cut off, a dumb U.S. Senator proposes to cut off Iranian oil!

In a Friday interview with C-SPAN’s (Cable-Satellite Public Affairs Network) Newsmakers program, democrat Carl Levin says he wants to use the U.S. Navy to blockade Iranian oil shipments.

Levin is inviting other countries to join in: “I think (these are) options that whoever is willing to participate should explore, including Israel and including the United States.”

Levin admitted that alternative oil supplies would have to be found for the allies of the United States.  Mmmm, you mean like the United States now that it actually has too much oil on hand (recently the CEO of Exxon Mobil said the U.S. oil “…markets are well supplied.”)?  Now we know the real reason for going to war against the World’s second largest petroleum producer  (oil from Canada and North Dakota is actually creating a surplus in the U.S.).

 

Business/Economics, International, U.S.

World War 3: UBS says war with Iran will destroy U.S. allies

Julius Walker, an oil analyst with Swiss based financial company UBS, says war with Iran could destroy ten countries, from lack of oil.

He told Business Insider that not only would the price of oil skyrocket past $250 per barrel, but the economies of ten countries could be devastated.

Those ten countries are actually allies of the United States (and some are already on the verge of collapse): China, India, Japan, South Korea, Turkey, Italy, Spain, Greece, South Africa and France.  Maybe they won’t be allies for very long?

 

Business/Economics, International, U.S.

Financial Incompetence: After ratings agencies declare Greece in default, IMF offers yet another billion dollar loan!

March 10, 2012, just hours after Moody’s declared Greece in full default the U.S. based International Monetary Fund offers Greece another multi-billion Euro loan.

Moody’s declared Greece in full default after Greece agreed to a new sovereign debt (government bonds) swap deal, which will see 53% of Greece’s debt erased.  Many holders of Greek bonds will be forced to take losses.

Now Christine Lagarde, Managing Director of the IMF, is offering Greece a U.S. $36.7 billion loan.  That’s on top of the other loans Greece is still waiting for.

So credit ratings companies are saying Greece is not in a position to pay back more debt, yet the U.S. led world finance institutions are offering Greece more debt?  By the way, the  IMF had to borrow that money from BRICS!   In 2011, for the first time in the IMF’s history they were broke, and went ‘cap in hand’ to BRICS (Brazil, Russia, India, China and South Africa) to beg for money, so they could in turn lend it to Western countries.

 

Business/Economics, International, U.S.

What Economic Recovery? Moody’s declares Greece in full default

Earlier in the day the main stream media was reporting “good” news on the latest agreement between creditors and Greece, but that’s not how Moody’s sees it.

Moody’s says the latest deal actually pushed Greece into automatic default: “According to Moody’s definitions, this exchange represents a ‘distressed exchange’ and therefore a debt default.”

On March 9, 2012, a deal was made that allowed a debt exchange plan hoping to cancel about U.S. $143 billion dollars in Greek government bonds.

Business/Economics, International, U.S.

What Economic Recovery? Greece downgraded again, even with new bailout loan deals

Moody’s has joined Standard & Poor’s in downgrading Greece.

Last week S&P’s downgraded Greece to default status. Today Moody’s rated Greek bonds at C, saying risk of default is too high even with new bailout loans: “Moody’s believes that Greece will still face medium-term solvency challenges: its stock of debt will still be well in excess of 100 percent of gross domestic product for many years, the country is unlikely to be able to access the private market once the second assistance package runs out, and its planned fiscal and economic reforms will still face very significant implementation risks.”