EU: A financial Union before the fiscal one? | New Europe

EU: A financial Union before the fiscal one? | New Europe ;.. The Spanish banking chaos and the Greek political problems have prompted all careful asset managers to reduce their exposure to European values. In reality, what was so far a sovereign debt problem for Eurozone's sinner governments, has become a banking confidence issue, threatening the euro area and the world with a new and far worse credit melt down.




The European Banking Authority, which was created last year, is obviously unable to take over and resolve the current transnational frictions between Eurozone banks. What is even more alarming however, has to do with the refusal of the European Central Bank to cooperate in resolving the Spanish crisis.

First Read - Catholic heavyweights challenge Obama rule on contraception

First Read - Catholic heavyweights challenge Obama rule on contraception ;..  The Archdiocese of Washington, D.C., and the University of Notre Dame separately filed lawsuits in federal court challenging a Health and Human Services rule that would require them to offer coverage for contraception, the use of which runs contrary to Catholic teaching.

"For the first time in this country’s history, the government’s new definition of religious institutions suggests that some of the very institutions that put our faith into practice — schools, hospitals and social service organizations — are not ‘religious enough,'" said Cardinal Donald Wuerl, the archbishop of Washington, in a statement.

Father John Jenkins, the president of Notre Dame, said: "This filing is about the freedom of a religious organization to live its mission, and its significance goes well beyond any debate about contraceptives."

Finnish rooftop gunman seems not to be extremist - Yahoo! News

Finnish rooftop gunman seems not to be extremist - Yahoo! News ;..  Finland has one of the highest gun ownership rates in the world and a series of mass shootings prompted the government to toughen its gun laws last June. The suspect in Saturday's case did not have a license, police said.

Spain's Bankia seeks record bailout of €19 bn - Yahoo! News Singapore

Spain's Bankia seeks record bailout of €19 bn - Yahoo! News Singapore ;..  The government refused to comment on this possibility.




Prime Minister Mariano Rajoy's conservative government this month instructed Spain's banks to set aside an extra 30 billion euros in 2012 in case property-related loans go bad, on top of 53.8 billion euros required under reforms enacted in February.



Bankia's shares plummeted 7.43 percent on Thursday to close at 1.57 euros, taking total losses to more than 58 percent since their listing in July 2011.

Kenny: too early to decide on project bonds | New Europe

Kenny: too early to decide on project bonds | New Europe ;.. Taoiseach was far less excited, however, about the project bonds initiative of the newly elected French President François Hollande. He pointed out that the concept of project bonds was mentioned as a part of a “broad agenda” of growth, which is important for Europe, but that there are many unknowns about the exact nature and operational aspects of bonds.

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Greek elections: False dilemmas and poor strategies | New Europe

Greek elections: False dilemmas and poor strategies | New Europe ;..  His political disclaimer was that his major opponents (i.e. ND-PASOK-Democratic Left) were reluctant to “man up” to form a government majority (of 168 MPs) and save the country from insecurity.

BBC News - What happens next if Greece leaves the eurozone?

BBC News - What happens next if Greece leaves the eurozone?

BBC News - Europe's dangerous days

BBC News - Europe's dangerous days  ;..  The biggest threat is that some event sparks a run on the banks - in either Greece or Spain.

Greeks have withdrawn 3bn euros in the past two weeks but there is no panic.

'Poverty, war and coup'

As the crisis deepens the Greek chorus is in full cry. It is not, however the Greeks who are doing the commenting; the cacophony of voices - mainly from outside Greece - is directed at the Greek people themselves.

by +Mathew Honan

by +Mathew Honan ;..  PEOPLE MAKE CODES and codes make people enriched and rich !!

Troika to Athens: Comply or face the consequences | New Europe

Troika to Athens: Comply or face the consequences | New Europe ;..   COMPLY OR ELSE !

Greek politicians need to be brave – opinion | New Europe

Greek politicians need to be brave – opinion | New Europe ;..  This is an argument Alexis voiced with the easiness of someone who is planning to keep a distance from any government scheme that would assume the responsibility to manage the agreements Greece has signed with its lenders. SYRIZA’s alternatives are alien to this approach. Party cadres have already talked about economic measures that sound not only obsolete but also irrational.

World News - Mexico's drug war: No sign of 'light at the end of the tunnel'

World News - Mexico's drug war: No sign of 'light at the end of the tunnel'  ;.. Q: An estimated 50,000 people have been killed in Mexico since 2006, the country is one of the most dangerous in which to be a journalist, and kidnapping and extortion are rife. Is Mexico teetering over into chaos?

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A: It is not true, but it's less inaccurate that it was three or four years ago. It’s not teetering on the verge of chaos because violence remains concentrated in a few places. But those places have been changing over the past five years.

This is really awesome and there are silk some spots left to get your own signed copy. Inn happy to have brought Tiffany over her halfway mark :) check it and support if you can

This is really awesome and there are silk some spots left to get your own signed copy. Inn happy to have brought Tiffany over her halfway mark :) check it and support if you can ...;;...  PERFECTING within ''perfect'' and ideal ''fit4life'' ....SITUATIONS, Do Apply ACCORDINGLY !

Eurozone: New strategy in the making | New Europe

Eurozone: New strategy in the making | New Europe ;..  On top of that, the newly established German Pirate Party got 7.8%. Pirates first appeared in a regional parliament in Berlin last year. All that without making reference to the Greek and the French elections on Sunday 6 May, where the political forces backing the austerity programmes almost disappeared.

European markets plunge amid political chaos | New Europe

European markets plunge amid political chaos | New Europe ;.. 



What is even more threatening, is the fact that many financial analysts are now openly talking about the strategy the Eurozone is to follow, in case Greece leaves the Eurozone.

Europe’s opportunity in Hollande | New Europe

Europe’s opportunity in Hollande | New Europe

Political Dirty Dozen: world's weirdest parties | New Europe

Political Dirty Dozen: world's weirdest parties | New Europe ;.. While we are contemplating the political future of Europe, here are some of the weirdest political parties the world has seen.




12. The Party for Neighbourly Love, Freedom, and Diversity

German court rules against Microsoft | New Europe

German court rules against Microsoft | New Europe ;.. A German court in Mannheim ruled that Microsoft infringed Motorola Mobility's patents in making the Xbox 360.




The same court decided to ordered Microsoft to remove its popular gaming consoles and Windows 7 operating system software from the German market.



However, according to Microsoft, "our business in Germany will continue as usual while we appeal this decision and pursue the fundamental issue of Motorola's broken promise".



This case is related to the larger smartphone patent war being fought by the giants Apple, Microsoft and mobile phone makers who use Google's Android software such as Samsung.

Leaders-cum-losers of 2011- Our world is not for sale, but it may be for rent | New Europe

Leaders-cum-losers of 2011- Our world is not for sale, but it may be for rent | New Europe ;..  “The internet as a platform is one that lends itself to a large public forum with no borders, boundaries, and no problems with distance; in fact, it is the perfect platform for starting a revolution. However, platforms do not start revolutions; information does. And we are in an era where critical information is becoming more accessible, less obscure and can be found in abundance.”

Working together to sustain healthy and in-depth growth of China-EU Relations | New Europe

Working together to sustain healthy and in-depth growth of China-EU Relations | New Europe ;..  The month of May is usually among the best time of the year with the beauty and vitality of the nature.

Juncker criticises Germany, resigns Eurozone presidency | New Europe

Juncker criticises Germany, resigns Eurozone presidency | New Europe ;.. As things stand now, Berlin has the unquestionable backing of many important euro area member states, called the Merkelets (Austria, Holland, Finland). However, most of the small member states of the single European money zone (Slovakia, Slovenia, Malta, Cyprus, Estonia) are just following the mainstream options usually formulated by Berlin and Paris. Juncker's criticism against Germany went as far as accusing Berlin of showing arrogance vis-a-vis all the rest of Eurozone's members.




He argued that Germany is part of the problem and not the only country which offers solutions to the over-indebtedness crisis. He added that seven countries have a better fiscal showing than Germany.



According to information from Brussels, filling the presidency of the Eurogroup will give a first taste of the future Franco-German relations in case Francois Hollande wins this Sunday's election.

Norwegian world champion Dale Oen dead at 26 - Yahoo! News Singapore

Norwegian world champion Dale Oen dead at 26 - Yahoo! News Singapore

A €2.5 trillion firewall for Eurozone | New Europe

A €2.5 trillion firewall for Eurozone | New Europe  ;..  Then there was the European Financial Stability Facility and the permanent fire wall mechanism to succeed it, namely the European Stability Mechanism. Those two financial tools are going to coexist and their joint fire power will be of €700bn.




Last but not least, over the past three months the European Central Bank handed out €1 trillion to 800 Eurozone banks, in the form of three year liquidity support loans at the negligible interest rate cost of 1%. The ECB however has spent more money in supporting the Eurozone's capital markets.



In detail, the European Central Bank's interventions in the secondary sovereign debt markets to support the prices of the Greek, Spanish and Italian debt bonds must have reached a round sum of €200 billion.



The IMF



On top of all that, the major Eurozone economies have pledged another €200bn in support of the IMF's own financial arsenal. As it turned out this past weekend in Washington, the new money pledged by the developed and the developing member countries of the Fund has reached almost €700bn in new funding, with the €200bn being the European contribution.



The IMF will not say that this new money is to be used to counter a possible new crisis in the Eurozone, but it goes without saying that most of it will be used to counter a probable new attack on European values. Avoiding duplications add all that together and the fire wall available for Eurozone may reach €2.5 trillion.

Don't be blinded by the light: the 'right to be forgotten' clarified | New Europe

Don't be blinded by the light: the 'right to be forgotten' clarified | New Europe ;.. Today, after more than two and half millennia, whether forgetfulness is a blessing or a curse is still discussed as part of a debate on what is broadly known as the right to be forgotten or right to oblivion in the digital world.




On 25 January, the Digital Agenda Commissioner Viviane Reding, realised her promise to present a proposal to review the current Data Protection Directive 1995 (“DPD”); a plan which would include a separate “right to be forgotten” aiming to arm the user with full control of his personal data in the digital world.

Chinese values? | New Europe

Chinese values? | New Europe: This means that, in political and economic terms, we are entering an East and Southeast Asian century.

Lest we forget, the outcome for the world would have been far worse if China’s ascent had failed. But what will this world look like? We can foresee the power that will shape its geopolitics, but what values will underlie the exercise of that power?

The official policy of “Four Modernizations” (industrial, agricultural, military, and scientific-technological) that has underpinned China’s rise since the late 1970’s have failed to provide an answer to that question, because the “fifth modernization” – the emergence of democracy and the rule of law – is still missing.

Eurozone still far from a virtuous path | New Europe

Eurozone still far from a virtuous path | New Europe ;.. Finally, in March 2012, the Troika concluded a new agreement (second MoU) with Athens containing generous debt reductions and soft loans to the order of €130bn. Now, two weeks ahead of the Greek elections, the country says it might yet again miss the targets for government deficit reduction and structural reforms contained in this second MoU.




As mentioned above,Venizelos, one of the country's most influential politicians, has already cast doubts over the ability of his country to apply the unpopular measures agreed in the MoU. It was not by chance that the head of the IMF Christine Lagarde said this past week that she has three advises to give to Greece: implement, implement, implement!