Saturday 16 June 2012

Today's stories



Breaking News

THE international ratings agency Moody's today cut its debt ratings for banks in France, Belgium, Luxembourg and the Netherlands, owing to deteriorating eurozone financial conditions.


Global economy

With Europe threatened by serial economic implosions and rising chaos clutching at the Middle East, it makes sense for world leaders to transport their security bubbles to a remote Mexican resort in the next few days - where they might coalesce to discuss Europe and the Middle East.


George Osborne unveiled a £140 billion emergency scheme to try to avoid a second credit crunch caused by the ongoing chaos in the eurozone.


SPAIN CRISIS EXCLUSIVE: Dash for banking consolidation “a recipe for worse disaster” – Insiders

Want To Make Risky Trades with No Brakes? Go To London
Pop quiz time. Which U.S.-based financial services firm used the U.K. to make losing trades that caused embarrassment, regulatory scrutiny and much worse: MF Global, AIG, Lehman Brothers, or JPMorgan? Answer: All of the above.  

Airline Death Spiral


Military/intelligence

Officials with the US Department of Defense have confirmed that the Pentagon has finalized procedures that outline how American forces could soon combat the government of war-torn Syria and officially involve itself in that state’s bloody uprising

France is ready to supply communications equipment to the Syrian opposition and to individuals and is ready to make the shipments on its own, Foreign



US foreign military sales have shot over $50 billion. Another record-breaking year is expected thanks to US ally Saudi Arabia, which accounts for three-fifths of the sum.

Palestinian villagers have addressed the Guinness Book of World Records to register a ruinous “record”. A Bedouin village in Israel has been demolished 38 times by Israeli authorities, who say people in the village do not have building permits.

Iran’s Minister of Economic Affairs and the Treasury Shamseddin Hosseini predicts oil prices may surge to $160 per barrel in case the US-led oil embargo against the country takes effect on July 1 as planned.
The Iranians do understand Peak OIl -- RW

Hossein Mousavian, who was a senior member of Iran's nuclear negotiating team between 2003 and 2005, dismisses West's proposal as 'diamonds for peanuts.'


Environmental/disasters

Ten thousand sardines were found dead on the beach in Minami shitaura machi Miura city Kanagawa



Civil unrest/revolution

Activists called for a protest and Islamists warned that the gains of the revolt that toppled Hosni Mubarak could be wiped out after Egypt's supreme court dissolved parliament and ruled to keep his last premier in this weekend's presidential race.



Energy/resources

BS detector - you mean the rich might have to actually give something to the poor?! -- RW

Tanzania, the third largest gold producer in Africa is among the poorest nations due to decades of Western multinational exploitation and political corruption.


Food/water

’
The water in Gaza is too dangerous to drink as it is contaminated with fertilizers and sewage, says a new report. Several charitable organizations have called on Israel to immediately lift its blockade to allow crucial sanitation equipment in.

There are moves to rewrite contentious water-sharing agreements that are becoming a major source of friction in the Middle East as water supplies shrink.


Large parts of New Delhi were struggling with acute water shortages on Friday after a neighboring state cut its supplies at the peak of summer, officials said


Greece


From the Greek media - 
As international pressure grew on Friday for Greece to honor its commitments to its foreign creditors, political parties responded sharply to perceived attempts to interfere in domestic politics while European leaders heading to Mexico for the G20 summit were said to have Sunday’s Greek elections in mind.


Angry Merkel urges more European effort on crisis
GERMANY cannot save the euro single-handedly, German Chancellor Angela Merkel has warned, expressing her growing anger over British, American and G20 demands that she do more to tackle the eurozone debt crisis.


THE Greek stockmarket leapt by a staggering 10.1 per cent yesterday after rumours that secret opinion polls had indicated tomorrow's election would produce a new government determined to stay in the eurozone.
Last chance for the European elite and bankers you mean? There  will be no end to the propaganda this weekend! --RW

Campaigning comes to an end before Sunday's general election as politicians warn country faces expulsion from euro.


UK

A study by a leading British think tank has revealed that average incomes collapsed in the UK last year as the effects of the recession began to bite.

Japan


Ten thousand sardines were found dead on the beach in Minami shitaura machi Miura city Kanagawa


USA
Former Goldman Sachs board member Rajat Gupta has been found guilty of insider trading, in a victory for prosecutors probing Wall Street corruption.
The real criminals not only go free but rule the roost --RW

Don't read this if you have high blood pressure or if you are a client of MF Global's, whose money isstill held by JP Morgan

A surveillance video released in Mexico shows five policemen allegedly kidnapping three men who were later found dead.


Australia/NZ 


Despite more bad news for car industry workers this week, there may be hope on the horizon, if the example set by Detroit can be emulated by manufacturers here, writesMathew Murphy.
Emulate the US car manufacturing industry? - now that's a great idea - LOL --RLW

Media/internet

Julian Assange, the Australian founder of WikiLeaks, could be extradited to Sweden by the end of the month for questioning on sexual misconduct allegations, after Britain's Supreme Court rejected his bid to reopen his case


The mainstream media never considers this possibility
Julian Assange’s extradition to Sweden has fueled fears he will be transferred to US jurisdiction. Political rhetoric branding Assange as a terrorist and reports of a secret indictment make a fair trial seem unlikely should he fall into US hands.


A court in Germany has removed the ban which Munich's Media Regulatory Office BLM had imposed on Press TV after the 24-hour news channel filed a lawsuit against the organization.


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