This has got to be the best actor in Ireland to-day!
Archive for November, 2011
Hardly a week goes by, without a major summit between German Chancellor Angela Merkel and French President Nicolas Sarkozy, trying to devise another clever scheme to save the Euro. Yet after 1-½ years of trying to contain the wildfire, – the Euro-zone’s debt crisis is more dangerous than ever. The collapse of Greece’s €360-billion bond market, now trading at 26% of face value, has triggered contagion sales from periphery of the Euro-zone – Greece, Ireland and Portugal, and into the next upper tier of the Euro-zone, namely, the bond markets of Spain and Italy, which together owe €3-trillion of debt
Even after Spain’s right-wing Popular Party routed the social democrats in a national election and assumed power, pledging even more severe austerity measures, – Spain’s borrowing costs continued to ratchet higher. The yield on Spain’s ten-year bonds approached 7% last week, a level considered prohibitively high enough to topple the Euro-zone’s fourth largest economy into a depression in 2012. Despite assurances from Italy’s new Prime Minister Mario Monti of new austerity measures, Italy’s 10-year yield hit 7.50% last week, a 15-year high.
The newly installed governments of Greece, Italy and Spain are promising to imposed deeper spending cuts, further layoffs of public workers, and raising taxes, – all measures that can push their economies into a deep recession. However, as the Wall Street Journal noted on Nov 21st, “Whether the ECB decides to boost its bond-buying or not, investors seem to be coming to the conclusion that any true solution to the European debt crisis will be a years-long process in which governments will be asking electorates to accept enormous sacrifices, in the form of entitlement cuts and tax
full article at source:http://www.marketoracle.co.uk/Article31825.html
Our political system does not represent us but instead administers on behalf of unaccountable elites
This is a call for all groups, political groups, movements, union members and individuals. Bring your banners, Bring your flags but most of all bring yourself and… your friends. We are ordinary people. We are like you. We are of different ages, nationalities, social backgrounds and political beliefs. We get up every morning to study, to look after our homes, to go to work, or to look for work. We all work hard every day at building a better future for ourselves and for the people around us. But all of us are worried and angry about what is unfolding, politically and economically, in our society. We want real democracy now. Not the pretence of democracy that presently exists in Ireland. The present system silences the voices of those who want a meaningful role in shaping our society and concentrates power in the hands of a minority. Our political system does not represent us but instead administers on behalf of unaccountable elites. It is time for us all to start a movement for a better society. We want a society based on equality, solidarity, respect, ecological sustainability, and the development and well-being of all people. We want a society that guarantees the following: housing, work, culture, health care, education, political participation and a fulfilled life. Our political and economic system places these things under attack. We therefore reject a political system that exists simply to allow others to rob us of our living standards, our public services, and our political voice. The politicians do not represent us. Their promises are nothing more than a way of gaining power to administer on behalf of their powerful masters. The trade unions are not representing us, because the agreements made by their leadership consent to the robbery of the people. Unions should be a force for real democracy, not accomplices in anti-democratic economic policies State-owned and corporate media do not represent us: we can represent ourselves. We do not need experts to define our needs or shape our thoughts in advance. No entity, national or international, has the right to burden the people with illegitimate debt. We will not spend our future working to pay off illegitimate bankers’ debt through lower wages, longer hours, and a tax regime that benefits wealth and power and impoverishes everyone else. We must put an end to this. We want total transparency in the management of the country, zero tolerance to corruption, and prosecution of those responsible for major economic crimes. We will no longer be cogs in a machine designed to enrich a small minority through the toil of the vast majority and the destruction of the environment. We are not commodities. We are more than consumers. Real democracy means every one’s voice, participation and welfare is given equal importance in deciding how our society should be run. We can do this ourselves. The problems we face are local, but they are also global. We want this movement to grow, and we offer total solidarity to any group or collective elsewhere that shares our desire for direct and real democracy. This situation harms us every day. As a consequence of all the above, WE ARE OUTRAGED! We can change this. We can all play our part. Together we can create a new reality. This is just the beginning
By David Mc Williams
This crisis is likely to culminate with capital controls re-imposed in Ireland, following a Europe-wide run on the banks. This bank run will be an accelerated and panicked version of what is already happening right now. Money is likely to leave all the major banks of the eurozone with the exception of German banks.
This is because savers fear the breakup of the euro will leave them with “cheapened” savings in their own countries. Obviously, the corollary of this should be a wall of money flooding into Germany because — whatever happens — the currency that Germany will eventually trade in will rise against all others.
And so we are likely to see a massive credit crunch all over Europe because without funding, lending will dry up.
As lending dries up, growth will plummet and the already fragile bond markets of the non-German members of the eurozone will close down. This means that the enormous redemptions which are necessary next year to roll over the huge national debts of Italy and Spain, together with France will not be financed. These countries will have to renegotiate their debts
full article at source: http://www.davidmcwilliams.ie/2011/11/30/small-savers-will-pay-price-if-euro-goes-into-meltdown?utm_source=Website+Subscribers&utm_campaign=9ddc8bd5fe-Weekly_Roundup_30nov_2011&utm_medium=email
We the ordinary people of Ireland have had enough of Elected Representatives who put I-M-F and Europe before their own people , who put party lines before their country and our children s future. We must take a stand . ” Walk” to unity on dec 10th at 1pm in Limerick city . We the ordinary people of Ireland will walk together and our msg will be simple . ” we have had enough” Further details will be posted shortly
this is the latest posting from our friends over at the blog (I Doubt it) please do read the full article as source.
So the euro is in ‘real danger of collapsing’, is it? We’re expected to worry about that, but I wonder what it actually means. Would it really matter if our currency was suddenly worth nothing at all?
I don’t know about you, but I’d be fine frankly. It’s true there probably isn’t a lot of work for a cartoonist in a collapsed economy, but I have other strings to my bow – which these days is getting to more resemble some sort of harp. Something I am not at all bad at is making broken things go again. I started as a small boy on alarm clocks, I do it now with computers and such. I reckon I’ll be getting plenty work after the currency collapses and no one has the means to buy new things. I will accept payment in food and body warmth.
full article at source:http://i.doubt.it/2011/11/29/what-comes-after-the-euro/
- Montenegro will not quit euro as its national currency, says PM (focus-fen.net)
- John Taylor: “The Euro Is In A Death Struggle” (zerohedge.com)
- It the Euro Zone About to Collapse? (johnhively.wordpress.com)
- JOHN TAYLOR: The Euro Situation Is Worse Than I Could Have Dreamed (businessinsider.com)
- What Comes After The Euro? (i.doubt.it)