Written by Foras Teamhrach
Speaking to the Irish Times, Nobel Prize – winning economist Joseph Stiglitz has described the continued payments by the Government to unsecured bondholders as “unconscionable”. Ireland’s chances of cutting its way back to health were negligible he said, and its prospects were being compounded by German chancellor Angela Merkel’s austerity rhetoric. “Why should Irish [...]
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Written by Foras Teamhrach
Source: ZeroHedge, 28th 1st 2012 Greek Communist Party (KKE) “If the Commissioner be necessary for the plutocracy, it will accept him. But with or without a commissioner, crime against the people is predetermined by the co-ruling of the EU the ECB and the plutocracy in general. ” Alexis Tsipras, chairman of left-wing SYRIZA asked [...]
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Written by Foras Teamhrach
Transport Minister Leo Varadkar has defended the Taoiseach, who is under fire for blaming the economic crash on "mad" borrowing by the Irish people. Enda Kenny made the comments during a press conference at the World Economic Forum in Davos. Minister Varadkar said that Mr Kenny has nothing to clarify because some people did [...]
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Written by Foras Teamhrach
Speaking to Bloomberg TV yesterday, Taoiseach Enda Kenny said that Irish people are very understanding about what needs to be done to get the economy back on track. Commenting on yesterday’s €3.53 billion debt swap, Kenny said it was an indication of increasing confidence though there is still “a long way to go”. However, [...]
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Written by Foras Teamhrach
“The downgrading of nine euro zone countries by Standard & Poor’s is a politically motivated decision. The rating agency represents the interests of an international financial elite for whom the destruction of working class living standards is not proceeding far or fast enough. This is clear from the official rationale for the downgrade. “Today’s [...]
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Written by Foras Teamhrach
Reuters: “Italy began a week of strikes by the three biggest labor unions against Prime Minister Mario Monti’s 33-billion-euro austerity package, which the government may soften slightly to meet some of their demands. Port, highway, and haulage personnel stopped work for three hours and metal workers — including those at carmaker Fiat — put [...]
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Written by Foras Teamhrach
WSWS – “On Wednesday, the former EU commissioner, banker and economics professor Mario Monti, 68, was sworn in as the new head of government in the Italian presidential palace, where he also presented his ministers. On Thursday, Monti underwent a vote of confidence in the Senate, and the same procedure is planned for Friday [...]
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Written by Foras Teamhrach
RTE News – German Chancellor Angela Merkel has said stabilising the euro zone in its current form is the top priority for her government. She was speaking to reporters at a news conference with Romania’s president in Berlin. Earlier Reuters reported that some French and German officials were thinking about proceeding with closer integration, [...]
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Written by Foras Teamhrach
Bloomberg – Oil declines as Italy’s borrowing costs rose at an auction today, deepening concern Europe will contain the debt crisis. “The euro is getting really beat up today:” Stephen Schork, president of Schork Group Inc. in Villanova, Pennsylvania. “The situation both in Europe and here is still uncertain. This market has [...]
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Written by Foras Teamhrach
"Italy must again be and must increasingly be an element of strength, not weakness in a European Union that we helped found and in which we should be protagonists," Mr Monti said after his nomination by President Giorgio Napolitano, Monti stated that he would implement fresh austerity measures if the new government is approved [...]
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