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  1. #3796

    Re: World News Random, Random

    Greek debt crisis: Banks 'to stay shut on Monday'
    11 minutes ago

    Greek banks will be closed on Monday, the head of the Piraeus Bank has said after an emergency meeting of the country's Financial Stability Council.

    The Greek cabinet is due to meet later, with an announcement to follow.

    Earlier, the European Central Bank (ECB) said it was not increasing emergency funding to Greek banks.

    Greece is due to make a €1.6bn (£1.1bn) payment to the International Monetary Fund (IMF) on Tuesday - the same day that its current bailout expires.

    Without new emergency funds, Greece risks defaulting and moving closer to a possible exit from the eurozone.

    Greeks have been queuing to withdraw money from cash machines over the weekend, and Greece is now expected to impose capital controls as it tries to avert a financial collapse.

    Asked if capital controls were inevitable, Greek Finance Minister Yanis Varoufakis told the BBC earlier on Sunday: "This is a matter that we'll have to work overnight on, with the appropriate authorities both here in Greece and in Frankfurt [where the ECB is based]."

    http://www.bbc.com/news/world-europe...e=news_central
    Oh heaven...I wake with good intentions but the day it always lasts too long... Emeli Sande

  2. #3797

    Re: World News Random, Random

    Moral of the story: if you are a small country (economically), DO NOT GET IN DEBT.
    If you are the USA you can literally have trillions of dollars in debt (and about one third of that debt is to another country, China). But if you are Greece.... (sodomy joke deleted because I want to remain a member of this forum)
    50 ways to leave your (non) lover: "I hope you understand me when I say it was torture having met you"

  3. #3798

    Re: World News Random, Random

    Last I read today was that they have a referendum on Friday on whether they should abide the Creditors' demands or not. Failing to do so would probably mean goodbye Eurozone and Euro coin.
    Stannis, heir to the Iron Clay Throne

  4. #3799

    Re: World News Random, Random

    The Honduran meltdown: Made in USA
    Six years after the coup in Honduras, it's time for another history lesson.
    Belen Fernandez
    28 Jun 2015 09:00 GMT

    In May 2005, US Deputy Secretary of State Robert Zoellick appeared at the conservative Heritage Foundation in Washington to rally support for CAFTA, a free trade agreement between the US, the Central American countries, and the Dominican Republic.

    In his remarks, Zoellick played up the notion that, for Central America and the DR, the agreement would "strengthen democracy through economic growth and open societies based on the rule of law", while also entailing various perks for the gringos; a T-shirt reading "Made in Honduras", he enthused, would likely contain over 60 percent US content.

    The deputy secretary and future president of the World Bank went as far as to assert that, "In many ways, CAFTA is the logical culmination of 20 years of democratic and social progress in Central America, nurtured and encouraged by the United States."
    Never mind that, 20-some years ago, the United States was nurturing things like Battalion 3-16, described by the Baltimore Sun as a "CIA-trained military unit that terrorised Honduras for much of the 1980s".

    Anything but the communists

    To be sure, much of Honduras' contemporary plight - while perhaps appearing on the surface, like Zoellick's T-shirt, to be a domestic creation - is in fact Made in USA.

    Encouraged by then-US ambassador to Honduras John Negroponte, the Battalion 3-16 death squad was responsible for the disappearance of almost 200 suspected Honduran leftists and the torture and kidnapping of many more.

    The aim of right-wing terror, of course, was to prevent a Honduran crossover to the communist dark side a la neighbouring Nicaragua - against whose transgressions Honduras had the honour of acting as de facto US military base and staging ground for the Nicaraguan "contra" war.

    Aside from the Honduran army and similarly reactionary forces, other Hondurans benefited from the arrangement, as well. Among them was Juan Ramon Matta Ballesteros, the country's most famed drug lord and owner of the contra supply airline SETCO, dubbed the "CIA airline".

    In his multitasking heyday, Matta not only assisted in supplying the contras with their logistical needs, but also contributed to the flow of narcotics to the US.

    It's this sort of arrangement that makes a mockery of continuing US drug war rhetoric, which excuses the militarisation of the hemisphere and allows the US Drug Enforcement Administration (DEA) to transcend borders at will, while US borders are increasingly fortified.


    Caught in the crossfire

    In a 2012 incident involving DEA agents in Honduras, four poor Afro-indigenous canoe passengers -including a 14-year-old boy and a pregnant single mother - were mistaken for drug traffickers and killed in a helicopter operation.

    In addition to flying in the face of Zoellick's suggestion that CAFTA would somehow help resolve the drug trafficking mess in Central America, the affair was perhaps a good example of what can happen when US law enforcement agencies prioritise justifying their budgets over safeguarding human rights.

    Indeed, when it comes to crime-fighting systems imported from the US, it seems Honduran civilians are forever getting caught in the crossfire - although some would argue that it's not an issue of crossfire at all.

    Maria Luisa Borjas, the former chief of internal affairs for the Honduran police force, herself confirmed to me during a conversation in 2009, that approximately 3,000 young people had been murdered by the state during the presidency of Ricardo Maduro (2002-06).

    Inspired by former New York Mayor Rudy Giuliani, Maduro acted as the ringleader for Honduras' very own zero tolerance regime, which was characterised, Borjas said, by a criminalisation of youth and a liberal application of the term "gang member" to validate extrajudicial killings.

    American University anthropologist Adrienne Pine has referred to the period as one of "invisible genocide", primarily against "unemployed young men who were marked as criminals by a society that had no room for them".

    Coup time

    According to Zoellick's menacing calculations in 2005, a voting down of CAFTA would mean that Central American "wages will be lower, and a door to upward mobility for the region's poor will be slammed in their face". But in the decade since the agreement's ratification, there's no evidence that any more room has been made in Honduran society for the poor.

    This could have been predicted from the get-go by anyone who paid scant attention to NAFTA, the 1994 free trade accord that lowered wages in Mexico, raised unemployment, and forced two million Mexican farmers to abandon their land thanks to US export subsidies.

    When Maduro's successor Manuel Zelaya dared to ever-so-slightly challenge the US-sponsored landscape in Honduras - earning a caricature among the fanatical Honduran elite as a die-hard communist puppet of Hugo Chavez and Fidel Castro - he was overthrown in a military coup on June 28, 2009.

    His transgressions had included bringing the urban minimum wage up to $290 a month, demonstrating less than complete obsequiousness to mining and other foreign corporations, and proposing a bit more democratic participation by the Honduran citizenry.

    Formally, he was accused of attempting to violate the national constitution by revising Article 239, which prohibited the re-election of presidents. In April of this year, the very same article was conveniently done away with by the current right-wing government of Juan Orlando Hernandez, himself instrumental in the overthrow of Zelaya.

    The US, for its part, did its best to legitimise the 2009 coup while pretending not to. After hemming and hawing for months about whether or not a coup perpetrated by the military qualified as a military coup and thus necessitated punitive financial measures, the US recognised the outcome of illegitimate Honduran elections held in November 2009 by the coup-installed regime. And poof, Honduras was restored to the realm of democracy.

    Reaping the rewards

    But the post-coup era has seen soaring homicide rates, with much of the violence committed by state security forces enjoying near-total impunity. And from the looks of it, these same forces are slated for more handouts from the imperial benefactor to the north.

    In a recent op-ed for Al Jazeera America, historian Dana Frank writes that, despite Hernandez's flagrant violations of the rule of law, his excessive militarisation policies, and his repression of civil liberties, "the White House is aggressively pushing for a billion dollars in aid to Central America, much of which will flow to Honduras, including a tripling of military funding."

    This, Frank contends, is "tantamount to rewarding Hernandez and other Honduran elites for the very crisis they created".

    http://www.aljazeera.com/indepth/opi...064420182.html
    Oh heaven...I wake with good intentions but the day it always lasts too long... Emeli Sande

  5. #3800
    Everyday Warrior MJ2004's Avatar
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    Re: World News Random, Random

    Quote Originally Posted by ponchi101 View Post
    Moral of the story: if you are a small country (economically), DO NOT GET IN DEBT with bailout money for which you defer payments and may not be able to pay back, all while thumbing your noses at your creditors.
    Fixed that for you.
    Last edited by MJ2004; 06-28-2015 at 12:57 PM.

  6. #3801

    Re: World News Random, Random

    More on Greece:
    Oli ‏@Oliviaa_RN 5m5 minutes ago

    Banks will remain closed until July 7th. The minister will decide on a specific limit on the amount of money that can be withdrawn via ATMs
    Eleni Giokos ‏@EleniGiokos 6m6 minutes ago

    If you're a holder of a Greek bank card outside of Greece your max withdrawal allowance is 50 euro per day... 10 euro less than in Greece.
    Oh heaven...I wake with good intentions but the day it always lasts too long... Emeli Sande

  7. #3802

    Re: World News Random, Random

    Saskia Dekkers ‏@saskiadekkers 7h7 hours ago

    Losses on Greek default: Germany €58bn, France €42bn, Italy €39bn, IMF €26bn.

    http://blogs.cfr.org/geographics/2015/05/07/grexit/
    Oh heaven...I wake with good intentions but the day it always lasts too long... Emeli Sande

  8. #3803

    Re: World News Random, Random

    His caps not mine:

    Fabrizio Goria ‏@FGoria 39m39 minutes ago

    FED READY TO PROVIDE LIQUIDITY UNDER STANDING FX SWAP LINES, FED HAS NO LIMITS ON SWAP LINES WITH ECB, OTHER CENTRAL BANKS - MNI
    Oh heaven...I wake with good intentions but the day it always lasts too long... Emeli Sande

  9. #3804

    Re: World News Random, Random

    About Honduras:
    There was no COUP D'ETAT. Zelaya tried to go ahead with a referendum to eliminate term limits on his presidency, and after the Supreme Court of the country came down with a verdict that the timing to introduce such referendum had passed (he was not told he could not do it, just that the terms had expired) he went ahead and WITH THE HELP OF HUGO CHAVEZ, who had the balloting material printed in Venezuela and sent to Zelaya FOR FREE, tried to run the balloting against the Supreme Court. The court ordered him to stop, which he refused, and therefore the military (the only organism with any real power in almost all Latin American countries) intervened and detained him.
    Due to the sensitive nature of what happened, the Courts in Honduras decided to exile Zelaya, whom went to Costa Rica and then to Nicaragua, to the safe haven of Daniel Ortega, another Chavez crony that has remained in power (after the idiots in Nicaragua elected him, a dictator during a previous stint as head of the country) and, together with the backing of Chavez et al (Correa in Ecuador, Morales in Bolivia, CFK in Argentina) screamed "COUP" precisely to muddle the events. Honduras was suspended from the OAS despite having done nothing but depose a president that was in the process of perpetuating himself in power INDEFINITELY.

    So the one that needs the history lesson is Mrs. Belen Fernandez, not those that she is writing for.
    (I wonder who paid her to write that. If you do a search in Wikipedia, you will see Fernandez' page is being in the process of being deleted due to multiple connections between the author of the page and Fernandez. She also works for TELESUR, the Venezuelan Government Owned TV station that broadcast throughout South America FOR FREE because the Vennie Govt uses it as a propaganda media).

    About Belen Fernandez:
    Belén Fernández is an editor and feature writer at Pulse Media. Her articles also have appeared on Al-Jazeera, Al-Akhbar English, CounterPunch, Palestine Chronicle, Palestine Think Tank, Rebelión, Tlaxcala, Electronic Intifada, Upside Down World, the London Review of Books blog and Venezuelanalysis.com, among others. She earned her bachelor’s degree with a concentration in political science from Columbia University in New York City.
    (Fom Amazon.com)
    Last edited by ponchi101; 06-28-2015 at 02:08 PM.
    50 ways to leave your (non) lover: "I hope you understand me when I say it was torture having met you"

  10. #3805

    Re: World News Random, Random

    Thank you Ponchi.
    Oh heaven...I wake with good intentions but the day it always lasts too long... Emeli Sande

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