Category Archives: EU

Bugged by US spying, EU may sever ties with American internet providers


The building of the European Parliament is seen in Brussels.(AFP Photo/Dominique Faget) 

EU businesses are threatening to terminate relations with American internet providers in response to the National Security Agency surveillance scandal, the European Commission has warned.

Neelie Kroes, Vice President of the European Commission, said that US providers of “cloud services,” a technology that permits clients to store data on remote servers, could suffer steep losses if users fear the security of their material is at risk of being compromised.

“If businesses or governments think they might be spied on, they will have less reason to trust cloud, and it will be cloud providers who ultimately miss out,” Kroes said. “Why would you pay someone else to hold your commercial or other secrets if you suspect or know they are being shared against your wishes?”

The EC vice president then pointed to the “multi-billion euro consequences” facing US internet companies in the wake of the scandal.

“It is often American providers that will miss out, because they are often the leaders in cloud services. If European cloud customers cannot trust the United States government, then maybe they won’t trust US cloud providers either. If I am right, there are multibillion-euro consequences for American companies. If I were an American cloud provider, I would be quite frustrated with my government right now.”

AFP Photo / John Macdougall
AFP Photo/John Macdougall

On Thursday, the European Parliament overwhelmingly passed a non-binding resolution that says the US should provide full disclosure about its email and communications data, otherwise two EU-US transatlantic information-sharing deals — the Terrorist Finance Tracking Program (TFTP) and Passenger Name Records (PNR) — could be revoked.

Relations between Washington and Brussels suffered a setback in June when former NSA analyst Edward Snowden leaked details of a top-secret US data-mining surveillance program, known as Prism, which operated both in the United States and the European Union.

Prism is said to give the NSA and FBI user information from some of the world’s largest internet companies, including Google, Facebook, Microsoft, Apple, Yahoo and Skype.

Der Spiegel cited a secret 2010 document alleging that the US spied on internal computer networks in Washington, as well as at the 27-member bloc’s UN office and EU offices in New York.

The NSA paper also allegedly refers to the EU as a “target.”

According to Der Spiegel, the US surveillance system spied on some 500 million telephone and internet recordings in Germany each month, ramping up fears that the United States was not simply collecting data to prevent against acts of terrorism, but was involved in full-scale industrial espionage.

In response to heated European criticism of the US surveillance activities, US President Barack Obama this week seemed to downplay the severity of the situation when he commented: “I guarantee you that in European capitals, there are people who are interested in, if not what I had for breakfast, at least what my talking points might be should I end up meeting with their leaders. That’s how intelligence services operate.”

During a Wednesday phone conversation with German Chancellor Angela Merkel, Obama sought to reassure her that the United States would provide the Europeans with details of their surveillance program.

Meanwhile, in an effort to contain the damage from the revelations, ambassadors to the European Union agreed on Thursday to proceed with EU-US negotiations on a new transatlantic free trade pact, scheduled to open in Washington on Monday. 

EU commissioner for Digital Agenda Neelie Kroes.(AFP Photo / Georges Gobet)
EU commissioner for Digital Agenda Neelie Kroes.(AFP Photo/Georges Gobet)

During the EU-US trade negotiations it will certainly not go unnoticed that crucial European positions in the trade talks may already be compromised due to the wide-scale surveillance. EU officials do not want the issue of America’s covert spy program to be the elephant in the room which nobody talks about.

Dalia Grybauskaite, the president of Lithuania, which takes over the rotating six-month EU presidency this week, said on Thursday that she awaits “information” — not apologies — from the Americans over the spying allegations.

“They are open to co-operation. They are open to explain,” she said. “I never seek an apology from anyone. I seek information … We don’t want to jeopardize the strategic importance of free trade.”

Grybauskaite insisted that the scandal, which has shown no sign of abating, should not be allowed to obstruct the trade talks but acknowledged that “some countries are very sensitive on this question.”

Meanwhile, Britain may also have some explaining to do on the sidelines of next week’s trade talks since it was suggested that the UK’s Government Communications Headquarters (GCHQ), through a system known as Tempora, .

The European Commission vice president said that US companies could suffer from the US government’s covert intelligence-gathering activities.

“Concerns about cloud security can easily push European policy-makers into putting security guarantees ahead of open markets, with consequences for American companies,” Kroes warned. “Cloud has a lot of potential. But potential doesn’t count for much in an atmosphere of distrust.”
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Robert Bridge is the author of the book, Midnight in the American Empirewhich discusses the dangerous consequences of excessive corporate power now prevalent in the United States.

 

 

http://rt.com

rt.com is Russian television, which actually does a great job reporting on US news too.

Austerity Today- Austerity Won’t Work if the Roof Is Leaking


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 Austerity Won’t Work if the Roof Is Leaking


New York Times
Hasn’t Germany been one of the most outspoken advocates of fiscal austerity after the financial crisis? Yes, and that’s not a contradiction. Fiscally responsible businesses routinely borrow to invest, and so, until recently, did most governments 
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Anxious, austerity-minded, but worldly: the young Britons of Generation A
The Guardian
This is Generation Y, born between the 1980s and the millennium, hammered by the recession andausterity. Generation Y faces more years of financial slowdown, but what is to become of the cohort following in its footsteps, arguably moving through an 
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Labour and the Tories’ woes show our political system is breaking apart
New Statesman
On the other side of the political aisle, activists from the People’s Assembly Against Austerity don’t think much of Labour either. One of their luminaries, PCS general secretary Mark Serwotka, spelled out why in his Staggers piece last week, berating 
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Potential Mistakes (Wonkish)
New York Times (blog)
Understating output gaps leads to excessive demands for austerity and excessive complacency at central banks; this perpetuates the depression; and the longer the depression goes on, the more misleading the standard estimates become. So it’s good news 
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Municipal workers protest in Greece over government layoff plans
Press TV
Greece has been at the epicenter of the eurozone debt crisis and is experiencing its fifth year of recession, while harsh austerity measures have left about half a million people without jobs.” Greek municipal employees have held demonstrations against 
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Calls for a 5pc rise in welfare cash for our poorest OAPs
Herald.ie
Age Action Ireland says the cumulative impact of a series of austerity budgets is having a devastating impact on our senior citizens. The advocacy group has pleaded with the Government, particularly Social Protection Minister Joan Burton, to include a 
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Bulgaria’s president calls for early elections amid mass anti-government protests
The Province
The government of Prime Minister Plamen Oresharski took office after the May 12 early elections following the resignation of his predecessor Boiko Borisov amid antiausterity protests. The appointment of controversial media mogul Delyan Peevski as head 
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Teen ‘lying on the road for an hour’ in wait for ambulance
Irish Independent
AUSTERITY measures are to blame for leaving a 14-year-old girl lying on the road awaiting an ambulance for more than an hour, the union representing HSE ambulance drivers claims. Also in this section. Robinson at festival · Dissident arms haul is 
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Social Justice Ireland wants Govt to increase pension payments
Irish Examiner
Cuts to income and services have left pensioners at breaking point, it was claimed today. Age Action warned Government that the cumulative impact of multiple austerity budgets was having a severely damaging effect on the most vulnerable of older people.
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The withering of America’s exception agriculturelle
Financial Times
Lacking the money for a proper stimulus and the time to wait for the healing power of austerity, Europe’s leaders have pinned their economic hopes on trade with the US. Negotiations on the proposed transatlantic trade and investment partnership, which 
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Ipsa: MPs’ role in our democracy ‘should be recognised’
Telegraph.co.uk
Independent Parliamentary Standards Authority (Ipsa) chairman Sir Ian Kennedy admitted that theausterity being felt by the country made its review of MPs’ salaries and pensions tougher, but said that the role MPs play in a democratic system means they 
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China: luxury dining goes mid market
Financial Times (registration) (blog)
There is plenty of room for skepticism about whether Beijing’s latest austerity drive will have any lasting impact on the per capita consumption of Lamborghinis by government officials. But in one area it clearly has had a marked effect: luxury dining.
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Italian austerity drive forces Vatican to pay more property tax
BusinessGhana
More ». Italian austerity drive forces Vatican to pay more property tax. News Date: 5th July 2013. The Vatican said Thursday it had to pay an extra 5 million euros (6.5 million dollars) in property tax last year as a result of austerity measures 
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So What is Neoliberalism all About?


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Neoliberalism means:

–controlling the economy by shifting from the public sector to the private sector;

–the reduction of deficit spending;

–limiting subsidies;

–reforming tax law often by lowering taxes for the wealthy while spreading the tax base;

–opening up markets to trade and limiting protectionism;

privatizing state-run businesses;

–encouraging de-regulation;

–holding private property as sacrosanct.

–representing the aims and views of the World bank coupled with the IMF/ECM

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Austerity Today- A summer of discontent for Europe?


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A summer of discontent for Europe?


BBC News
The economies of many eurozone countries remain fragile, with high unemployment and austeritymeasures causing public anger. So could Europe be set for a new financial crisis and will the continent suffer a summer of discontent? Bill Blaine is a 
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A socialist program against war, austerity and the drive to dictatorship

World Socialist Web Site
The financial and corporate elite was demanding the junking of the post-financial crisis stimulus spending measures associated with Rudd, and the implementation of austerity measures aimed at slashing the living standards of the working class. At the 
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Multiple austerity budgets ‘damaging most vulnerable elderly people’
Irish Examiner
A pre-Budget forum at Dublin Castle will hear today how the cumulative impact of multiple austeritybudgets is having a severely damaging effect on the most vulnerable of older people. More than 30 organisations, including Age Action, St. Vincent De 
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Amartya Sen: The taste of true freedom
The Independent
Now, he calls the UK Coalition’s austerity programme “an intellectual failure”. “Is there anything surprising in that it failed? Should a well-educated economist have been able to anticipate that? Yes. One doesn’t have to be a Keynesian to see it. My 
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Campaign groups join in Lisbon anti-government rallies
The Portugal News
Various anti-austerity campaign groups have added their voices to that of Portugal’s largest trades union federation, the communist-linked CGTP, in calling for a demonstration outside the presidential palace on Saturday, to demand an end to the current 
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5 Reasons Why Cyprus Should Leave the Euro
Yahoo! Finance (blog)
Reason 1: Severe budget austerity will not work: Cyprus is hardly the first European country to have been required to sign up to severe budget austerity in return for IMF-EU bailout funds. Greece, Ireland, and Portugal have all preceded Cyprus down 
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Older people ‘at breaking point’

Irish Health
Older people are reaching ‘breaking point’ as a result of the austerity measures they have had to withstand in recent years, Age Action Ireland (AAI) has warned. According to the national charity, the effect of cuts in services combined with rising 
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Fears austerity is being ‘pushed too far’ after Suffolk County Council underspend
Bury Free Press
County council leaders have been accused of ‘pushing austerity too far’ following an underspend of more than £3.5 million last year. The Conservative controlled Suffolk County Council made about £26.19 million in budget cuts for 2012/13 with further 
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BARRIE GRUNEWALD: Austerity? It isn’t working
St Helens Today
THE government’s spending review for 2015/16 last week provides clear evidence that their austerityprogramme just isn’t working. Since the 2010 election the Chancellor George Osbourne has argued that the tough spending cuts would lead to economic 
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MP Andrew George’s weekly column – July 4, 2013
This is Cornwall
In a time of stress and austerity, community celebrations become more, rather than less, important. After all, what would we do if our lives just continued with routine and mundane sameness, with no light relief or anything to look forward to; with no 
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Austerity cuts ‘hitting pensioners’
Belfast Telegraph
Age Action warned the Government that the cumulative impact of multiple austerity budgets was having a severely damaging effect on the most vulnerable of older people. Think tank Social Justice Ireland also called for the poorest pensioners to be given 
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IMF Sees Bulgarian Risk in Unstable Government, Euro Area
Businessweek
The Cabinet of Prime Minister Plamen Oresharski took office on May 29 after antiausterity protestsforced out his predecessor, Boyko Borissov, leading to a May 12 snap election. An appointment of controversial media and business executive Delyan 
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FINANCIAL TIMES: Portugal needs new model
BDlive
Yet a deeper and more drawn-out recession than expected has weakened that consensus just as Portugal prepares for the most difficult phase of its austerity regime ahead of the scheduled exit next summer. This would require more cuts to the size of the 
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Fresh Eurozone fears over Portugal’s ‘unsustainable’ debt
The Week UK
In May, a fresh package of austerity measures increased the working week of civil servants from 35 to 40 hours and reduced the workforce by 30,000. In response, workers staged a number of demonstrations last month and unions organised a general strike.
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UK strikes dip to lowest level since 2005
Financial Times
Britain lost only 248,800 working days through strikes last year, the lowest since 2005, as public sector protests against the coalition’s austerity measures faded. The figure published by the Office for National Statistics on Thursday is down from 1 
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Austerity Today


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Protesters, upset over school closings and austerity cuts, march to Mayor 

Chicago Sun-Times
If the mayor was home on the Fourth of July, he’d look out to see hundreds in front of his home, holding signs that read “#onetermmayor” and calling austerity a reason for some of the city’s biggest problems. Dubbed a fight against austerity, the group 
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Arbitrary austerity fuels organised crime in Europe


The Conversation
Until the 1990s, Europeans viewed themselves to be generally unaffected by the activities of organised crime, with the notable exception of Italy and, to a minor extent, Germany. But now, Europol’s recently published European Union Serious and 
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Will the age of austerity harm health?


BBC News
Sandwell, like many areas that were heavily reliant on manufacturing, was hit hard by the recession of the 1980s. Unemployment rose steeply and poverty increased. In some respects, the area has never recovered. The West Midlands borough is now the 
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End to era of austerity budgets within ‘touching distance’, claims Michael Noonan
Irish Times
Ireland is within “touching distance” of no longer having to frame annual austerity budgets, Minister of Finance Michael Noonan has told members of the financial services industry. “We have a difficult budget coming up in October,” said Mr Noonan 
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An Autogestión Alternative to Austerity: Occupy, Resist, Produce!

Truth-Out
An Autogestión Alternative to Austerity: Occupy, Resist, Produce! Austerity policies continue to deliver pain to populations the world over, but shifts toward democratic self-direction deliver much-needed hope. Home · News · Opinion · Video · Art 
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Portuguese coalition holds together

SBS
Portugal’s PM Pedro Passos Coelho says the coalition has found “a formula” that secures its survival after fears it would break up over austerity policies. Portugal’s centre-right government coalition has averted its break-up in a dispute over 
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Greek Salaries Cut Another 10%
Greek Reporter
The austerity measures have also worsened a six-year recession and created a record 27.4 percent unemployment rate and put 1.3 million people – all in the private sector – out of work. Until Samaras shut down the national broadcaster ERT on June 11 and 
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Portugal: A bitter pill too far?

Deutsche Welle
Those tensions reached a temporary climax this week when two top government officials resigned in Portugal. The architect of the country’s austerity, Finance Minister Vitor Gaspar, stepped down. He cited public backlash against his policies. Less than 
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Spanish downturn a disaster for green energy
BusinessWorld Online Edition
MADRID — Spain’s wind turbine manufacturers are laying off workers and farmers who installed solar panels are facing ruin as austerity policies afflict the long-coddled green energy sector. Wind turbines in La Veleta wind park, in Monasterio de 
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Lisbon finds formula to avert collapse
The Times (subscription)
Portugal’s centre-right coalition Government last night averted its collapse in a row over austeritypolicies after striking a deal which will reassure eurozone partners that a second financial rescue will not be needed for the bailed out nation. “A 
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Portugal Government Lives, as Does Crisis
Wall Street Journal
Mr. Portas’ resignation Tuesday in protest over the strict application of austerity demands by the country’s international bailout lenders “was a personal decision,” Mr. Passos Coelho said. He added that Mr. Portas had told him he was committed to 
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International financial news
The Daily Telegraph
LISBON – Portugal’s leaders are fighting to prevent a collapse of the coalition government in a dispute over austerity policies squeezing the bailed-out nation. LONDON – The Bank of England has hinted that it is unlikely to lift record-low borrowing 
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Ireland’s Coalition Seen Secure Despite Lawmakers’ Revolt
Wall Street Journal
The coalition is preparing to detail in October more painful spending cuts and tax increases for its 2014 austerity budget to meet the conditions of the bailout Ireland struck with the European Union and International Monetary Fund in late 2010. The 
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Portugal on brink of collapse sparking fears the country will not be able to 
Daily Mail
Portugal’s financial markets nosedived today amid fears that repayments on its £64billion bailout could soon become unsustainable as the government looked set to collapse following a spat over the country’s austerity programme. Share prices dropped by 
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Passos Coelho: I will not go
Morning Star Online
Mr Gaspar said he lacked public support for the austerity programme the PM had brought him in to carry out. Mr Portas, who has demanded greater emphasis on growth measures, said he could not accept Mr Gaspar’s replacement, former junior finance 
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Corporations Pay Lower Tax Rates Than The Middle Class
ThinkProgress
Simply put, “austerity fatigue” has the government that’s enforced steep cuts to public services on the brink of collapse. After the minister in charge of austerity plans resigned Monday, Prime Minister Pedro Passos Coelho appointed a replacement who …
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Portugal: The Price of Austerity
Council on Foreign Relations (blog)
The leader of the junior coalition partner CDS-PP resigned yesterday, complaining that the new Finance Minister (Maria Luís Albuquerque, replacing Vítor Gaspar who resigned Monday) represented a “mere continuity” of failed austerity policies. While it 
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Greece pressed on austerity
Investor’s Business Daily
The next 8.1 bil euro bailout installment may be broken into smaller payments, the top eurozone finance minister said, as lenders push Athens to meet demands for economic reforms and gov’t job cuts. Greece doesn’t need the full payment at once, and …
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Political turmoil rattles Europe’s fragile economies
Globe and Mail
 past several months. Political instability in Portugal, combined with troubles in Greece and Italy, raise the prospect of an austerity backlash, rather than the gaping budget deficits that have been a hallmark of the debt crisis in the 17-member 
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Monsanto’s plays deception game on GMOs in Europe


On May 31 world media headlines read “Monsanto backing away from GMO crops in Europe.” But before the world opens the champagne to celebrate the death of GMO, it is worthwhile to look more closely at what was officially said and what not.

The original source for the story is attributed to a German left daily, TAZ which printed excerpts from an interview with an official spokeswoman of Monsanto Germany.

Ursula Lüttmer-Ouazane reportedly told Taz “We’ve come to the conclusion that this has no broad acceptance at the moment.”

Her remarks were circulated worldwide and Reuters interviewed Monsanto corporate spokesman Thomas Helscher who reportedly said, “We’re going to sell the GM seeds only where they enjoy broad farmer support, broad political support and a functioning regulatory system. As far as we’re convinced this only applies to a few countries in Europe today, primarily Spain and Portugal.”

A Monsanto interview with a leftist German paper created the impression around the world that the world’s largest patent-holder of GMO seeds is in full retreat from pushing their GMO seeds, at least in the European Union. The reality is anything but that. Among other things, on June 10 the EU Commission plans to approve a new Monsanto GMO maize sort.

What Monsanto really says

A visit to the official website of Monsanto Germany presents an official company press release referring to the media statements, where the essential part says, ”Right now the media is flooded with reports that Monsanto has stopped the marketing of GMO seeds in Germany and the EU. That is not correct…”

Then on the parent website of Monsanto in St. Louis, the following statement appears: “We have a robust business selling high-quality, conventional corn, oilseed rape and vegetable seeds to our farmer customers in Europe. We’ve been telling people in Europe for several years now that we’ll only sell biotech seeds where they enjoy broad farmer support, broad political support and a functioning regulatory system. As Hugh Grant, our CEO told the Financial Times in 2009, ‘Europe’s going to make up its own mind in its own time.’ The only GM trait grown in Europe today is a corn resistant to the European corn borer, an insect that can do considerable damage to crops. Its cultivation accounts for less than 1% of the all corn cultivated in Europe (by hectares).”

A militant against genetically modified organisms flashes the victory sign in Labrihe, near the southwestern French town of Auch, after pulling genetically modified corn from a field planted by US firm Monsanto. (AFP Photo / Pascal Pavani)

A militant against genetically modified organisms flashes the victory sign in Labrihe, near the southwestern French town of Auch, after pulling genetically modified corn from a field planted by US firm Monsanto. (AFP Photo / Pascal Pavani)

Both statements are worth closer attention. First the German statement is a bit different from the US version. It officially denies as false the press reports that they have ceased marketing of GMO seeds in the EU. Second, their statement that they concentrate on breeding and sale of conventional seeds and plant protection chemicals is nothing other than a description of what the present status of Monsanto sales in the EU, nothing more. Because of the limited use so far of Monsanto GMO seeds in the EU, Monsanto business by definition focuses now where it earns money. However the “plant protection chemicals” Monsanto refers to primarily its own Roundup herbicide, which by license agreement with farmers must be sold paired with all Monsanto GMO seeds, but is also the number one weed killer sold in Europe and the world. It has also been proven to be highly toxic even to human embryo cells.

The US statement has interesting important differences. First it gives no hint of any change in Monsanto policy towards spreading GMO seeds in the EU. It states explicitly they will continue to spread GMO seeds in Spain and Portugal, both EU countries. And it quotes chairman Hugh Grant, not to be confused with the Hollywood actor, indicating the company expects the EU to come around on allowing its GMO. And it cites the present status of its GMO corn in the EU. Nothing more. No statement of a stop to GMO in the EU.

And the Monsanto beat goes on, the beat goes on, on, on…

The EU Commission has announced it will meet to vote on approving licensing of a new Monsanto GMO patented maize, SmartStax, on June 10, ten days after the carefully formulated Monsanto FAZ interview. Monsanto shares the patent with Dow AgroSciences. SmartStax supposedly produces six different insecticides. It has been approved by the EUs food safety agency, EFSA despite absence of critical safety tests and Commission approval is reported certain by Brussels sources.

According to Dr. Christopher Then of TestBiotech, SmartStax was given the safety OK from the (Monsanto influenced-w.e.) EFSA, the European food safety body, despite provable lack of serious safety tests by Monsanto/Dow AgroSciences.

Suspicious Timing…

Yet for most of the world who don’t have time to research the official statements of Monsanto but merely glance at a Reuters or TAZ headline, the message has been delivered that Monsanto has given up its EU effort on proliferating its GMO seeds. The timing of the TAZ interview is suggestive of what seems to be a carefully orchestrated Monsanto PR deception campaign. The TAZ original by writer Jost Maurin appeared on the same day, May 31, less than one week after March against Monsanto , a worldwide protest demonstrations against Monsanto, that took place in more than 400 cities in some 52 countries around the world. The TAZ article that was then used as reference for all world media after, appeared under the emotional and factually misleading headline: Sieg für Anti-Gentech-Bewegung: Monsanto gibt Europa auf (Victory for anti-GMO Movement: Monsanto Gives up Europe).

The March against Monsanto was notable in several key respects. Most alarming for Monsanto and the GMO cartel was the fact that it was the first such demonstration not organized by anti-GMO NGOs such as Greenpeace or BUND or Friends of the Earth. In Germany where this author participated as a speaker in one of the events, it was all organized by concerned activists via facebook. But the NGOs who formally oppose GMO were reportedly nowhere to be found as sponsors or even reportedly as active organizers.

That march presented Monsanto and friends with a frightening new element—the danger that that grass roots anti-GMO protest would spread and make life even more difficult for GMO proliferation in Africa, in China, India, Latin America and of course eastern and western Europe. All indications are that the timing of the well-formulated TAZ interview, notably with a left newspaper openly opposed to Monsanto GMO, was an orchestrated attempt to “manage perceptions” and take the headwind out of the sails of the growing anti-GMO sentiment in the EU and abroad. For the moment, Monsanto has gained a tactical victory in propaganda points as the broad public takes the retreat at face value. As one experienced opponent of Monsanto GMO put it in a private e-mail to me, it bears all the hallmarks of a slick PR campaign, “like a Burson & Marsteller tactic that applies to many controversial bad practices and part of why it works is that it takes a long time to build consumer/activist energy and momentum, whereas the PR-company can start on a very short runway …”

What Monsanto has not done is to recall its already commercialized GMO Maize in the EU, that despite damning independent scientific study of some 200 rats over a two year span showing rats fed GMO maize and Monsanto Roundup herbicide showed dramatically more cancer tumors, higher death rates and organ damage compared with non-GMO-fed rats.

Moreover, Monsanto openly admits it is pushing its way deep into the eastern European market for seeds, though mentioning only conventional seeds. Monsanto Vice President for International Corporate Affairs, Jesus Madrazo, stated that the company has been focusing on gaining market share in the conventional corn market in Ukraine, and that Eastern Europe and South America are key growth areas for the company now.

Then in the USA, it has leaked out that Monsanto directly worked with its apparent current favorite US Senator, Roy Blunt, a Republican from Monsanto’s home state of Missouri and one of the major recipients of Monsanto campaign finance, to draft for Blunt an obscure paragraph Blunt got into a spending bill, a bombshell that exempts Monsanto from being sued for any damage its crops or chemicals cause.

Called by opponents the Monsanto Protection Act, many members of Congress were apparently unaware that the Monsanto Protection Act was a part of the spending bill that they were voting on. The Monsanto bill, signed into law by President Obama despite hundreds of thousands of protest petitions not to, essentially gives Monsanto and other GMO purveyors legal immunity, even if future research shows that GMO seeds cause significant health problems, cancer, anything. The federal courts no longer have any power to stop their spread, use, or sales. The only other corporations in the US enjoying such outrageous legal immunity are the pharmaceutical vaccine makers.

What we have is a quite different picture from the slick spin reported by TAZ and from there picked up worldwide uncritically by mainstream media. Monsanto by its own open admission has not ceased marketing its GMO products and herbicides in the EU. It has not ceased imports of its GMO soybeans and GMO corn into the EU where it has managed to escape the EU GMO labeling law.

Monsanto also states it is concentrating on building market share in eastern Europe, where often regulators are more “relaxed” and in the notoriously corrupt Ukraine. They do not deny promoting GMOs there either; rather they state positively their focus on conventional seeds only. Simply put, the geopolitical stakes behind Monsanto and the attempt to control the world’s most vital seeds of life are far too high for the company to raise the white flag of surrender so easily.

A Monsanto precedent

There is a relevant precedent for this Monsanto PR deception campaign. In 1999, after months of growing worldwide anti-Monsanto protest over the fact Monsanto had made a takeover bid to buy Mississippi company, Delta & Pine Land in order to acquire Delta’s patent on a radical new GMO technique known officially as GURTS (Genetic Use Restriction Technology) and popularly as Terminator technology. Delta has won a patent together with the US Government’s USDA for the Terminator. It would force a GMO seed or plant to “commit suicide” after only one harvest, forcing the farmer to return each year to Monsanto to buy new seeds regardless the price or availability.

The Terminator image threatened to derail the entire fledgling GMO project at the outset such that Rockefeller University President and GMO financial sponsor, Gordon Conway, president of the Rockefeller Foundation, made a rush visit to meet Monsanto’s board and convince them to make what was a tactical retreat in order to limit damage to a very fragile GMO campaign worldwide. Monsanto announced, deceptively it proved, that it would not pursue “commercialization” of Terminator technology and it dropped its takeover bid for patent holder Delta & Pine Land. The anti-GMO NGOs claimed a huge victory and nothing was heard for seven years until, with no fanfare, in 2006 Monsanto announced it was acquiring Terminator patent co-holder Delta & Pine Land. This time there was scarcely a peep from the anti-GMO lobby. They had lost momentum and the deal went ahead.

It remains to be seen if the forces for healthy non-GMO agriculture today prove as gullible as in 1999.

The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.

via Monsanto’s plays deception game on GMOs in Europe : The Canadian National Newspaper.

Austerity Today -Economic recovery ‘will take 20 years’


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Economic recovery ‘will take 20 years’, warns Britain’s top civil servant


Daily Mail
Cabinet Secretary Sir Jeremy Heywood said the austerity drive has not gone far enough and stressed it will continue for decades. He said there was a ‘very long way to go’ before the economy returns to the same level as before the 2007 recession. ‘This 
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Portugal’s Coalition Splinters on Austerity Fatigue: Euro Credit
Bloomberg
Portuguese borrowing costs topped 7 percent for the first time this year after two ministers quit, signaling the government will struggle to implement further budget cuts as its bailout program enters its final 12 months. Secretary of State for 
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NEWS ANALYSIS: Doubts as Portugal’s austerity plan changes hands
BDlive
THE resignation of the main architect of Portugal’s austerity policies has sparked concern over the country’s ability to complete its European Union (EU)International Monetary Fund (IMF) bail-out programme. Analysts say the departure on Monday of 
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Andrew Palmer: Austerity opens the door to new kind of regeneration
Yorkshire Post
WHEN most of us think of “regeneration”, we picture large, government-backed programmes to revitalise rundown areas – the waterfront in Hull, for example, or the Leeds riverfront. What we face now, though, is a new economic reality which means these 
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Redesigning for austerity – but politics get in the way
Public Service
And the director who saw the storm coming and had a plan jumped ship and now heads health commissioning – from which position he could be better placed to redesign for austerity. Blair McPherson is author of ‘Equipping managers for an uncertain future 
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Feeling the pinch in austerity-hit Portugal
BBC News
The resignation of two key ministers has left many questioning whether Portugal’s right-of-centre government, which has enthusiastically embraced austerity measures, can survive much longer. But in a statement to the nation on Tuesday night, Prime 
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Portuguese government at risk of collapse over austerity
EUobserver.com
Gaspar, whose replacement, Maria Luis Albuquerque starts work on Wednesday (3 July), identified increasing public disaffection with the government’s austerity drive as the reason for his resignation. But Albuquerque, who has been promoted from treasury 
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EU to ease deficit rules to allow some investments: Barroso
Hindu Business Line
The decision comes amid a wider debate over the austerity-driven policies used to tackle the EU’s economic crisis, as the worst-affected countries and left-wing parties argue that austerity is throttling growth and failing to tackle soaring unemployment.
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London midday: Stocks hit by political uncertainty, economic data
ShareCast
Resignations of both the Portuguese Finance Minister and Foreign Minister over the last few days have sparked concerns all over the Eurozone, as anti-austerity rallies gather support. Portugal’s 10-year bond yields have now surged above 8.0% for the 
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The Socialist 3 July 2013 Tories – cuts, Lib Dems – cuts, Labour – cuts
Socialist Party
And when Tory Chancellor George Osborne announced another £11.5 billion in cuts and extendingausterity past the next general election, rather than saying ‘we will tear up this spending review if we win power’, Labour promised to abide by it. These 
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European Stocks Tumble; Portugal’s Political Woes Weigh
Wall Street Journal
European stocks opened sharply lower Wednesday as a mounting political crisis in Portugal sparked worries over whether the country would be able to continue the austerity measures dictated by its acceptance of an international bailout two years ago.
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Portuguese Uncertainty Knocks The Euro
Wall Street Journal
Portugal’s government was thrown into turmoil Tuesday when Foreign Minister Paulo Portas followed Finance Minister Vitor Gaspar’s lead and resigned in protest over the country’s austerity policies, increasing the uncertainty over the future of the 
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New warehouses hit Ocado profits
Belfast Telegraph
Slashing Eurozone austerity could boost growth: report new. Cutting back on austerity across the eurozone would boost growth by 1% next year, consultants Ernst & Young has forecast. Smith brothers sell e-tee website BRS Golf new. Two brothers from 
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Portuguese markets in turmoil on gov’t confusion
Montana Standard
Portugal’s financial markets are in turmoil amid growing concerns over the future of the country’s coalition government and its ability to pursue the austerity measures demanded by creditors. While the country’s main PSI 20 stock index tumbled 5.4 
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Portuguese stocks, bonds slide amid confusion over future of government
Washington Post
Prime Minister Pedro Passos Coelho defied calls to resign late Tuesday but he was running out of options to keep his center-right coalition government together following the resignations of key ministers in a spat over austerity. A protester holds an 
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Heywood: 20-Year Battle To Fix UK Economy
Orange UK News
Britain is in a “20-year generational battle” to rescue the economy, according to the country’s most senior civil servant. Cabinet Secretary Sir Jeremy Heywood has suggested drastic austeritymeasures implemented by the coalition may have to go further.
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Portugal, oil in focus as stock futures retreat
USA TODAY
In Europe, markets moved sharply lower as Portugal’s foreign minister resigned amid a dispute over the nation’s austerity program, the Wall Street Journal reported. That follows a surprise departure for the country’s finance minister on Tuesday 
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Lenders Pressuring Greece Over Austerity Pledges
Voice of America
The lenders – Greece’s European neighbors, the European Central Bank and the International Monetary Fund – have been meeting with government officials in Athens. They are demanding that the government make progress on its austerity pledges ahead of 
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New Study Dispels Myths of European Austerity
OpenMarket.org
Cries throughout the media of “savage austerity” notwithstanding, only a handful of European countries have actually implemented austerity in the true sense of the term: reducing both public spending and taxation. On the other hand, most countries in 
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Portugal gov’t in peril as another minister quits
TheNewsTribune.com
Portugal’s government was in danger of collapse Tuesday after Foreign Minister Paulo Portas, the leader of the junior party in the center-right coalition government, resigned over the bailed-out country’s austerity policies. By BARRY HATTON; Associated 
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Rug buyers look for round rugs in austere times
PRWire (press release)
Rug buyers across Australia are looking to make their homes cosier as they hunker down for a period of relative economic austerity. That’s the view of the team at The Bespoke Rug Company (www.bespokerugs.com.au) Australia’s leading retailer of 
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Bailed-out Portugal’s finance minister resigns
Fresno Bee
Workers’ unions called a 24-hour general strike to protest the government’s austerity measures with public transport and government offices expected to be the worst-hit services. The banner reads in Portuguese: “The street is our. Nothing to lose”.
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The Tories must beware these feelings of irrational exuberance
Telegraph.co.uk (blog)
We have had enough of five years of austerity and doubt. All around there are signs that the economy is stirring, that the combination of low interest rates and high employment is beginning to encourage consumer activity. Even beyond the powerhouse of 
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There are few bright spots for them in last week’s spending review by George 
Third Sector
There are one or two other bright spots for the sector in the sixth year of austerity announced by George Osborne in last week’s spending review, which was in effect the opening salvo of the next general election campaign. The continuing expansion of 
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Portuguese Finance Minister’s Exit Elicits Few Gasps
Wall Street Journal (blog)
Yields on Portuguese government bonds ticked up a bit to 6.42% after the unexpected resignation of Mr. Gaspar–the architect of Portugal’s austerity plan–but volumes were low, and the news didn’t prompt predictions of outright default. Instead 
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Democratic Deficit Scolds Get Desperate and Weird
New York Magazine
Liberals may complain about austerity, but, they argue, “we haven’t had an austerity budget.” Cowan and Kessler’s evidence for this — that the federal government spent more, on average, during Obama’s first term than during George W. Bush’s second 
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Lapid: Deficit could cause collapse
Globes
Finance Minister: The austerity measures will stop Israel reaching the conditions in Europe with high unemployment. 2 July 13 12:42, Moshe Golan. Tweet. “The idea that we have people here whose lives are at risk because they are doing their jobs is 
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EU Rehn: New Portugal Finance Minister Must Maintain Tempo of Reform
Wall Street Journal
The former treasury secretary took the post after Vitor Gaspar, chief enforcer of austerity demands under Portugal’s EUR78 billion international bailout program, said Monday he was stepping down after two years in the job. Mr. Rehn praised Mr. Gaspar 
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The Strain in Spain Could Help Firefox OS Take Root
TechNewsWorld
Due to the extreme austerity measures in certain South American and European countries, “low-cost smartphones will be very appealing,” said Joshua Flood, a senior analyst at ABI Research. The ZTE Open — the first commercially available smartphone 
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Merkel opponent derides jobless summit as cynical ploy
Reuters
BERLIN (Reuters) – Angela Merkel’s summit on youth unemployment in Europe is an attempt to paper over the economic consequences of the austerity policies she championed in the region, a leading member of Germany’s opposition Social Democrats 
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Portugal’s austerity government feels the pinch
BBC News
The resignation in quick succession of two of Portugal’s biggest political beasts has left many questioning whether the right-of-centre government which has enthusiastically embraced austeritymeasures can survive more than a few weeks, let alone months.
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Twenty years of austerity ahead, says Sir Jeremy Heywood
Telegraph.co.uk
Sir Jeremy Heywood also suggested that the cuts made to public services to date were not sufficient and that austerity measures would have to continue for “at least” another four years. The comments from the Cabinet Secretary will have a sobering 
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Austerity Blitz: Eurozone Notes From Beyond the Grave
Truth-Out
The criminal effects of the austerity blitz strategy that the European Union (EU) conceived of on Germany’s insistence as the answer to the global financial crisis when it hit Europe’s shores with the triggering of the Greek sovereign debt crisis have 
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Portugal’s Budget Austerity May Do More Harm Than Good
KTEP
LAUREN FRAYER, BYLINE: Of all the bailed-out countries in Europe, Portugal has been the good student – taking the austerity medicine its lenders prescribe. Portuguese Finance Minister Vitor Gaspar took it even further – doubling budget cuts and tax hikes.
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Public sector austerity drive ‘hitting women the hardest’
Gulf Times
George Osborne’s revelation in his spending review that a further 144,000 jobs are to be slashed from the public sector means there is more pain to come for women, critics say. Data collated by the Guardian highlights the disproportionate blow to 
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Lapid: Without Austerity Measures, Deficit Could ‘Bury’ Israel
Algemeiner
Most Popular. Recent Posts. The BioHug vest. Photo: BioHug.com. Israeli-Developed Vest Hugs People to Health · Yair Lapid, leader of the Yesh Atid party. Lapid: Without Austerity Measures, Deficit Could ‘Bury’ Israel · Amy Winehouse. Photo: wiki commons.
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Portugal’s PM says he won’t quit despite resignations over austerity measures
Fox News
But the government’s future is hanging in the balance after the resignation earlier Tuesday of Foreign Minister Paulo Portas, the leader of the junior party in the governing center-right coalition, in protest against austerity measures. Passos Coelho 
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Trade unions call for social investment
Morning Star Online
And he said the people of Northern Ireland were suffering the same fate at the hands of the austerity-mad Westminster government. “Austerity is now no more than a mantra without meaning. The intellectual underpinning for it has been discredited,” he 
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Portugal’s finance minister resigns amid pressure for government to soften 
Malaysia Sun
Portugal’s finance minister resigns amid pressure for government to soften austerity | Malaysia Sun. Malaysia Sun. Issue 11/0183. Malaysia Sun · http://www.malaysiasun.com · Malaysia News · Southeast Asia News · Breaking International News · Asia 
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Activists climb County Hall, Westminster in anti war, anti austerity protest
Indymedia UK
The newly formed Black Katz Kollektive has within the last hour occupied County Hall on the south side of Westminster Bridge facing the Houses of Parliament, with banners unfurled down the side of the building. Their message is simple: stop the war 
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Portuguese government in peril as foreign minister, head of junior party in 
The Republic
Austerity is widely blamed for driving the jobless rate in Portugal to 17.6 percent and for what is forecast to be a third straight year of recession in 2013. Portugal needed a 78 billion euros ($102 billion) bailout two years ago after a decade of 
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Portugal PM defiant despite another resignation
Boston.com
Gaspar, a non-political economist specially selected by Passos Coelho to push the austerity drive, said he lacked the political and public support for his ongoing program of cutting public sector pay and pensions and raising taxes. Portas, the leader 
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Portuguese Finance Minister Gaspar resigns
Channel News Asia
Portuguese Finance Minister Vitor Gaspar, the architect of the country’s reforms under its EU-IMF bailout, resigned on Monday as the economy reels and social discontent mounts under the impact ofausterity measures. PHOTOS. File photo of Portuguese 
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Miss. tax receipts approach $5 billion in FY2013
WJTV
Top budget writers say they expect pressure from schools, universities and state agencies that saw budgets slashed during four years of austerity. Tax receipts have surged more strongly than jobs or Mississippi’s overall economy, leading to notes of 
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Portuguese PM adamant he will not stand down
Radio New Zealand
Austerity measures are blamed for causing Portugal’s worst economic crisis since the 1970s. Portugal has been in recession for two years and the economy is expected to contract by 2.3% this year. Unemployment is over 17.5%. A general strike was held 
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Portuguese Finance Minister Resigns
New York Times
MADRID — Portugal’s finance minister, Vítor Gaspar, unexpectedly resigned Monday amid a prolonged recession that citizens have attributed largely to austerity measures that he helped enforce in accordance with the demands of the country’s 
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Concern over Portugal bailout
Independent Online
Lisbon – The resignation of the main architect of Portugal’s austerity policies has sparked concern over the country’s ability to complete its EU-IMF bailout programme. Analysts say the departure Monday of finance minister Vitor Gaspar has weakened a 
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Portugal foreign minister steps down in second major ministerial resignation
Deutsche Welle
Former Treasury Secretary, Albuquerque was appointed on Monday following the shock resignation of Finance Minister Vitor Gaspar, the main architect of the austerity measures. ccp/kms (AFP, AP, dpa). Date 02.07.2013; Share Send Facebook Twitter 
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Public Support Grows for Snowden in Europe: Germany and France Should offer NSA Whistleblower Asylum


Europeans are pissed off at the US, in the wake of National Security Agency leaker Edward Snowden’s latest revelation that the US was aggressively spying on its European allies, both at their and the European Union’s embassies in Washington, and in Europe itself, gleaning not information about terrorism, but inside-track knowledge about trade negotiation positions and other areas of disagreement or negotiation.

Leaders in Germany, France, Italy and other European countries are demanding that the US cease its spying on them, and give a “full accounting” of the spying that it has been engaging in. But given the steady stream of lies coming from the NSA, the Obama Administration, Secretary of State John Kerry, and other American sources, why should they believe anything they are being told?

If, as Martin Schulz, the president of the European parliament, said today, the NSA is like the Soviet-era KGB, why would anything the US says about its nefarious activities have any credibility whatsoever?

At this point, pressure is building on European governments in Germany, France, Italy and elsewhere to stand up to the US and to grant Snowden asylum in Europe.

It makes sense. The US, weakened as it is economically these days, is still able to threaten weak nations in Latin America, which are stuck with the reality that the great consumer vacuum cleaner to the north is their biggest market, and are thus seriously at risk if the US threatens, as it did in the case of Ecuador, to impose import duties on goods shipped to the US for sale here. Europe has no such concerns. The US is in no position to economically threaten Europe.

Moreover, Snowden is widely seen among the people in European countries, where there has been plenty of ugly history of repressive spying regimes, as an unvarnished hero.  Opposition politicians in both Germany and France, and even members of the ruling parties, have been calling for both countries to grant him asylum. The Green party in both countries, and in the European Parliament, has been calling for their home countries and for the European Union as a whole, to grant him asylum.

Germans have vivid memories of both the Nazi SS, and more recently, of the East German Stasi, who attempted in a pre-computer era to do precisely the kind of all-encompassing surveillance and monitoring that the NSA is now doing electronically in the US and around the globe. Germans understandably have a visceral aversion to such government snooping. Meanwhile, in France, there is a long tradition of granting asylum to those who are in trouble with authorities in their home country, as well as a simmering grudge against the US, which has long made known its disdain for French politics and French insistence on maintaining an independent stance within NATO….

For the rest of this article by DAVE LINDORFF inThisCantBeHappening!, the new independent three-time Project Censored Award-winning online alternative newspaper, please go to: http://www.thiscantbehappening.net/node/1847

Dave Lindorff is a founding member of the collectively-owned, journalist-run online newspaper http://www.thiscantbehappening.net. He is a columnist for Counterpunch, is author of several recent books (“This (more…)

via OpEdNews – Article: Public Support Grows for Snowden in Europe: Germany and France Should offer NSA Whistleblower Asylum.

Eleven lessons from Cyprus’ bitter experience


Eleven lessons from Cyprus’ that could apply Anywhere

Cyprus has paid dearly, and will continue to pay a high price for several years, for the profligacy of its public sector, the recklessness of its banks, and the procrastination of its policy makers in taking corrective measures in the face of the crisis. The jury is still out on whether Cyprus has learnt its lesson, a very expensive one indeed. For other countries, Cyprus’ bitter experience holds many lessons, for which a generous tuition fee has already been paid by Cyprus.

Lesson#1: Control public finances and the size of the public sector. If you cannot trust politicians to resist the temptation of paying supporters and cronies with public sector jobs and salary raises and privileges, adopt a constitutional requirement for balanced budgets and a low ceiling on public debt. Keep the power of public-servant unions in check.

Lesson #2: Know what your bankers are doing; they may not have the country’s best interests in mind; they may not even serve their own bank’s best interests. Without effective corporate governance and strict supervision they may be gambling depositors’ money by putting all their eggs in one basket or taking unreasonable risks or expanding into markets they don’t understand. Don’t be reckless, not even careless about risk exposure. Instead, be ruthless about risk assessment and risk management. Don’t trust the central banker blindly to keep the banking sector sound and solvent, or as former President Reagan used to say “trust but verify”.

Lesson#3: Do not allow your banking sector, or any individual organisation or company to become so big that it is too big to let it fail and at the same time too big to save. You are putting yourself in a no win situation, the economy in jeopardy and sovereignty at risk. Healthy competition, diversification, and proportionality have become bywords for prudence. A banking sector eight times the size of the country’s Gross Domestic Product, as was the case in Cyprus, could neither be left to fail, yet neither could it be saved by the country.

Lesson #4: Do not give away your currency and monetary policy by joining a common currency area such as the Eurozone if you are not able to compete. Invest first in research and technology, innovation and entrepreneurship, cost control and quality management to raise productivity, cut costs, upgrade quality and produce innovative products and services that are internationally competitive. Common currency areas, especially those which do not involve transfer payments from the better performers to the laggards, ultimately benefit those who are able to compete effectively at the expense of the rest.

Lesson #5: Do not allow your labour unions to acquire such strength as to hold a chokehold on vital sectors and the economy as a whole, or destroy the flexibility of the labour market. Learn from Cyprus’ experience with the unions; don’t repeat it. The insatiable demands of the unions especially those of banking employees and civil servants have been protagonists in Cyprus’ drama. Even today, with 16 per cent unemployment and rising and the public and banking sectors buckling under the weight of wage bills and overstaffing, the unions are blocking life-or-death reforms.

Lesson #6: Do not buy the economic tale about natural monopoly, or the social tale about the need to provide affordable services to the poor, or the political tale about sectors of national or strategic importance. State enterprises such as Cyprus Airways or semi-public organisations such as CyTA and the Electricity Authority, have proved to be little more than another vehicle to tax the citizen, to allocate positions and favours, and to share the loot among the political parties, while the customer citizen is stuck with exorbitant bills due to greed and inefficiency.

Lesson #7: Beware of easy credit, bubbles and pyramid schemes. The economic history of the world is littered with stories of economic collapses and catastrophes caused by “ingenious” schemes of buying into easy and quick riches. In Cyprus, first there was the rapidly rising stock prices of the late 1990s inflated by easy credit which in the span of a few years led to collapse and the loss of fortunes by many people. It has been labelled “the stock exchange scandal” and, though nobody was punished, the stock market never recovered, despite the institutional reforms.

Then it was the real estate bubble: inflated by easy credit, property prices kept rising at 20-30 per cent a year; yet no one expected them to stop rising much less to collapse. This came to be known as the “real estate bubble” which burst a couple of years ago. Property prices are now continuing to fall steadily increasing the number of unsecured loans. Another bubble kept gathering steam since the early 2000s and accelerated since we joined the eurozone. The financial and banking bubble was built on high deposit rates of interest, poorly secured lending, attraction of “offshore” companies and reckless investments in Greek bonds and global expansion without risk assessment; it collapsed under its own weight and it is still in a coma.

Lesson # 8: Do not deviate from the iron rule that ties the growth of wages to the growth of productivity; measure public sector productivity, and assess and pay civil servants accordingly. If you earn and spend more than you produce on a long-term basis you are not building a sustainable economy. Sooner or later the economy will collapse, sooner if it is hit by a global economic crisis, as in the case of Cyprus. With the meddling of political parties, the pressure of the labour unions, and the support of parliament, wages and benefits in the wider public sector rose well above productivity, contributing to budget deficit and increased taxation on the private sector, sinking the economy into deeper recession.

Lesson #9: Save for a rainy day. Build an emergency fund, the size of your GDP, as a security against uncertainties, world economic crisis and generally the vagaries of markets and nature. Save in good years for the bad years. If you spend the unusually high revenues in good years on salary raises and overstaffing as well as marginal and unproductive show-off projects, you increase the state’s financial obligations for bad years too without having the means to meet them and you set yourself for deficit spending, escalating debt, and a need for a bailout (or a bail in).

Lesson# 10: Anticipate problems and challenges and formulate alternative strategies. Act early and proactively while you still have time and resources, while the problems are still manageable and you can still set your own terms. Always have a plan B ready. Delays and procrastination carry a heavy price: the problem becomes that much bigger and more pressing, while you lose any bargaining power you may have had to influence the terms of support when you finally resort to it. Cyprus learned this lesson the hard way.

Lesson #11: Establish strong alliances but never forget that in international politics there are no friendships, only shared interests. While this was known since ancient times and was repeated many times in modern history, Cyprus almost blindly counted on its friends and allies in the EU to show their solidarity and run to its rescue. Instead, they were quite unsympathetic administering bitter medicine or “tough love”, as some of us see it. Even our blood brothers, the Greeks, officially have shown little empathy, despite the help from our side in their moment of need. Our interest and theirs in this juncture did not coincide.

Other countries in the European south and beyond should heed the lessons of the bitter experience of Cyprus with its banking and fiscal crisis that brought down its economic edifice, like a house of cards. Avoiding Cyprus’ mistakes can make the difference between a sustainable economic model or a casino-type economy with easy riches alternating with economic collapse.

Dr Theodore Panayotou is director of the Cyprus International Institute of Management (CIIM) and ex-professor of Economics and the Environment at Harvard University. He has served as consultant to the UN and to governments in the US, China, Russia, Brazil, Mexico and Cyprus. He has published extensively and was recognised for his contribution to the work of the Intergovernmental Panel on Climate Change won the Nobel Peace Prize in 2007. Contact: theo@ciim.ac.cy

via Eleven lessons from Cyprus’ bitter experience | Cyprus Mail.

Anglo Irish Bank- Update From Home and Away


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Anglo tapes: Department of Finance records may provide answers to disturbing questions

Background: The secret paper trail may come to light as political pressure builds read full article

irishtimes.com

Irish politicians ultimately to blame for Irish property crash and burn
IrishCentral
The BBC among others gave prominent coverage to Drumm’s apology for the nasty language on the now infamous tapes and also focused on his call for a new inquiry into what happened when Ireland gave complete guarantees to Irish banks at the height of 

Irish banking tapes strengthen Merkel’s hand
MarketWatch
The leaked recordings, made shortly after the Irish authorities agreed on a blanket guarantee for sixIrish banks in September 2008 amounting to 250% of Irish gross domestic product, were published last week by the Irish independent newspaper. Reuters.

Allied Irish Banks seen as reckless as Anglo calls reveal
Financial Times
“They [Bank of Ireland] think that Allied have played fast and loose with lending money to every cowboy in town – apart from ourselves also lending money to every cowboy in town,” John Bowe, Anglo Irish’s former head of capital markets, told David 

Anglo Irish Bank’s ex-CEO David Drumm Apologises for ‘Inappropriate 

IBTimes.co.uk
Defunct Anglo Irish Bank’s former chief David Drumm apologised for ‘inappropriate language’ and tone used in secret phone call recordings between executives, which some have suggested, wilfully misled the government over the financial health of the 
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Micheál Martin: ‘There is no mystery about what happened on the night of the bank guarantee’

The Fianna Fáil leader has defended the actions of his predecessors in an interview this morning. read full article

thejournal.ie

Anglo recordings may lead to a less polite banking inquiry

Irish Times
Some money for the Irish banks is only a sideshow to the bigger debate about austerity and the role of the ECB. Paradoxically, it would seem from reports over the weekend that the Germans are turning the Anglo tapes to their advantage, putting them 
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Day one: Clip 1 – The Central Bank Meeting

Irish Independent
Comments. Email; Print; Font Size. Conversation between John Bowe, Head of Capital Markets,Anglo Irish Bank, and Peter Fitzgerald, Director of Retail Banking, Anglo Irish Bank. Download our Free iPhone App Now. Download our Free Android App Now.
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Report: Former Anglo Irish head regrets tone in bank rescue calls

Europe Online Magazine
Transcripts of the call were released last week by the Irish Independent, prompting outrage. German Chancellor Angela Merkel called the conversations “unbearable,” especially one in which a banker begins humming Germany’s World War II-era anthem 
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Lisa McInerney: We tolerate cute hoors, we end up with Anglo tape types

Our capacity for putting up with ‘charismatic’ cowboys is no longer a bad national joke – it’s our national downfall. read full article

thejournal.ie

Drumm breaks silence in US to say ‘sorry’

FORMER Anglo chief executive David Drumm has denied there was any attempt by the bank to mislead the Central Bank and the regulator about the state of its financial woes. read full article

independent.ie

Fianna Fáil told: “Come clean on Anglo Tapes” – Local

Sinn Féin finance spokesperson, Pearse Doherty TD, commenting on the latest revelations from the Irish Independent about the Anglo Irish Banks’ executives taped telephone conversations, says Fianna… read full article

donegaldemocrat.ie

‘AIB and Anglo lending to every cowboy in town’

Allied Irish Bank was viewed by its main competitor as lending money to “every cowboy in town”, senior bankers reveal in the Anglo Tapes. read full article

independent.ie

Drumm says bank guarantee not sought

Former Anglo chief executive claims Irish public being ‘misled’ by leaked tapes read full article

irishtimes.com

Austerity


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EU officials: 2,500 jobs to go in austerity deal

Two thousand five hundred EU officials are to lose their jobs in the next four years under a new austerity agreement. read full article

euobserver.com

Economic Rebalancing Acts by Robert Skidelsky

A phrase often heard, especially in leftist circles, is that the 2008 crisis has given us an opportunity to “rebalance the economy,” with production for profit yielding to production for “well-being.”… read full article

project-syndicate.org

Prime Minister’s ‘Loose Cannon’ Style Divides Greece
NPR
Antonis Samaras became prime minister of Greece a year ago, when the world assumed his country, battered by debt and austerity, would exit the eurozone. European leaders were openly relieved that Samaras’ conservative, pro-bailout New Democracy 
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COLUMN: Beth Farhat – Heavy toll of austerity

nebusiness.co.uk
On the 20th and 21st June the TUC Austerity Uncovered bus stopped at Carlisle, Newcastle, Sunderland and Stockton. Staff and campaigners spoke to people facing a variety of challenges, including the arbitrary bedroom tax, rising bills, pay freezes, pay 
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What’s killing Labour? A thousand failures to oppose the cuts

The Independent


His statement last week should have been rebranded “The Comprehensive Review of the Failure ofAusterity”. The Tories’ central pledge at the last election, after all, was that the deficit would be erased, wiped out, vanished over the course of this 
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Economic Rebalancing Acts

Project Syndicate
LONDON – We all know how the global economic crisis began. The banks over-lent to the housing market. The subsequent burst of the housing bubble in the United States caused banks to fail, because banking had gone global and the big banks held one 
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A brief look at Britain’s economy as new Bank of England governor takes charge

Edmonton Journal
Prime Minister David Cameron’s government instituted an austerity program to make ends meet and shrink the size of the government. The respected Institute for Fiscal studies estimates that 1 million public sector jobs could be lost by 2017-2018. Even 
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German Prosecutors May File Charges Over US, British Surveillance


 

Justice Minister: US Using ‘Cold War‘ Methods

Recent revelations about the NSA’s broad surveillance of German phone and Internet communications have fueled major concerns in the country, as Federal Prosecutors say they are preparing criminal charges against US and British spies involved.

Hessian prosecutors were the first to receive complaints about the matter, but that is likely to grow precipitously after German media outlets reported the US surveillance has collected more than half a billion phone calls and emails per month in Germany alone.

Though broad internal surveillance is also an issue in the US, the NSA’s policies don’t make spying on Germans illegal as such. The US lists Canada, Britain, Australia and New Zealand as “second party” nations exempt from surveillance, but considers Germany fair game. The program also explicitly targeted European Union diplomats.

Justice Minister Sabine Leutheusser-Schnarrenberger said the US policy was “beyond comprehension,” and said that such “Cold War” methods were unacceptable toward allies. Officials are urging the EU to take direct action to stop the surveillance.

via German Prosecutors May File Charges Over US, British Surveillance — News from Antiwar.com.

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