Tag Archives: austerity
Banksters swindle Spaniards out of savings
About 300,000 Spaniards who, in the midst of a brutal recession, have seen their life savings virtually wiped out in what critics call a deceptive and possibly fraudulent sales campaign by banks that were threatened by the implosion of Spain’s property market. http://www.nytimes.com/2013/07/09/world/europe/spaniards-fight-to-get-savings-back.html?ref=world Spaniards were easily misled when bank officials hit on the idea […]
Greek austerity win win for banksters
The plan developed by the Greek government and its international creditors to recapitalize the country’s banks involves an unusual twist as stock offerings go: the new shares in the banks will give investors free and potentially lucrative warrants that will entitle them to buy many more shares in the future at a predetermined price. http://www.nytimes.com/2013/06/26/business/global/greek-bank-bailout-plan-may-reward-some-involved-in-collapse.html?ref=world […]
Greece shuts down public broadcaster
Greek opposition leader Alexis Tsipras earlier urged President Carolos Papoulias to cancel an executive order closing public broadcaster, ERT. Mr Tsipras described the closure as “illegal”, adding: “Many times the word ‘coup’ is used as an exaggeration. In this case, it is not an exaggeration.” http://www.bbc.co.uk/news/world-europe-22871734 Protest rallies are being held in support of the […]
Austerity forces privatization
Greece agreed to change some terms in the planned privatisation of natural gas distributor DEPA, opening the way for Russian energy giant Gazprom to bid for the firm http://www.nytimes.com/reuters/2013/05/25/business/25reuters-greece-privatisations-gazprom.html?hp&_r=0 “The guarantee was halved to 10 percent of the purchase price,” Privatisation agency HRADF finalised the terms of the sale contract late on Friday, lowering the […]
israeli voters get the Bait & Switch on austerity
The Israeli government approved a two-year austerity budget early Tuesday that would cut spending and raise taxes, outraging many Israelis who voted in a new government this year after promises of economic relief. http://www.nytimes.com/2013/05/15/world/middleeast/after-citizen-protests-israel-approves-austerity-budget.html?ref=world 12,000 Israelis took to the streets Saturday night in a show of anger reminiscent of the vast social protests that rocked […]
Destroying the poor with austerity
A general strike against tough austerity measures is under way in Greece, with trade unions calling for “mass mobilisation” of protesters. The organisers are demanding an end to spending cuts and tax rises. “They have gone deaf over there [in parliment] and if we do not continue this fight, soon they will destroy us,” http://www.bbc.co.uk/news/world-europe-22362757 Government […]
Austerity starving Greek children
In Greece children are picking through school trash cans for food; needy youngsters asking playmates for leftovers; and an 11-year-old boy was bent over with hunger pains. http://www.nytimes.com/2013/04/18/world/europe/more-children-in-greece-start-to-go-hungry.html?hp&_r=0 “He had eaten almost nothing at home,” The parents, who were ashamed and embarrassed but admitted that they had not been able to find work for months. […]
Austerity called a spade
Finally the correct word is being used for sequester: Austerity. Government and private forecasters expect austerity, in the form of the spending cuts and tax increases, to take a big bite: about 142,000 fewer jobs a month for the rest of the year than would otherwise be added. http://economix.blogs.nytimes.com/2013/03/08/federal-austeritys-bite-on-job-growth/?hp That’s more than the 134,000 jobs […]
Sequester means forced austerity
Sequester takes aim at budget reductions in programs that help low-income Americans, including one that gives vouchers for housing to the poor and disabled and another that provides fortified baby formula to the children of poor women. http://www.nytimes.com/2013/03/04/us/politics/poor-face-most-pain-as-automatic-budget-cuts-take-effect.html?hp&_r=0 Housing programs would be hit particularly hard, with about 125,000 individuals and families put at risk of […]
Dirty Babylon 