Roberto Abraham Scaruffi: Eurozone collective debt hits new record high of 92.2% Cut 80% of public expenditure!

Wednesday 24 July 2013

Eurozone collective debt hits new record high of 92.2%
Cut 80% of public expenditure!

The European Union Times



Posted: 23 Jul 2013 06:14 AM PDT
Europe plunged into financial crisis in early 2008.
Official data show the collective debt in the eurozone has hit a new record high of 92.2 percent in first quarter of 2013, as the 17-nation bloc continues to grapple with a worsening financial crisis.
The data released by Eurostat, the EU’s statistics office, on Monday showed that government debt as a share of the total annual GDP of the eurozone increased to 92.2 percent in the first quarter of 2013 from 90.6 percent the previous quarter.
The EU agency further stated that the highest debt-to-GDP ratios were traced to Greece at 160.5 percent, Italy at 130.3 percent, Portugal at 127.2 percent, and Ireland at 125.1 percent.
The latest data showed that many EU countries remain mired in recession with reported debt burdens becoming heavier as states survive on bailout loans.
Greece has been at the epicenter of the eurozone debt crisis and is entering its sixth year of recession because of the government-introduced harsh austerity measures that have resulted in more than a quarter of Greeks losing their jobs.
Over the past decade, Italy has been the slowest growing economy in the eurozone as tough austerity measures, spending cuts, and pension changes have stirred serious concerns for many people already grappling with the European country’s ailing economy.
Portugal is the third country after Greece and Ireland to succumb to financial troubles in the eurozone debt crisis, seeking financial assistance to the tune of a EUR 78-billion bailout.
Europe plunged into financial crisis in early 2008. The worsening debt crisis has forced the EU governments to adopt harsh austerity measures, which have triggered incidents of social unrest and massive protests in many European countries.
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Posted: 23 Jul 2013 06:01 AM PDT

The Greek people, did not have to wait for the European Commission to tell them what we already know. Real unemployment is higher than what is recorded on paper, just like in the United States. The report says that 20% of households, are living off of 60% of the average median income in the country.
The reality is in fact much worse, it is certain that more than 1/5 are below the poverty line. Young people in the 25-35 age range have the highest unemployment, which leads to less new families being created, on top of that the new tax system would charge them more for having children if they did manage to have them. This is not merely conspiracy or speculation, this is a planned, calculated effort to replace the native population. One could argue that the economic conditions can’t be avoided, but the tax laws are simply inexcusable, even the most hard lined capitalist businessman could not come up with an explanation for how increased taxing of young couples with children stimulates economic growth.
It cannot be stressed enough to the Greek-American community and to everyone, what is going on here is not a simple case of incompetent Greek bureaucrats making zany laws as a result of their lack of ability. These are not “mistakes”, these are systematic planned measures to exterminate the Greek people, plain and simple.
Things will continue to get worse as the well compensated government puppets running things (Papandreou, Papademos and Samaras) will continue to be alternated and will go along with anything the international loan sharks say. What is happening is like trying to find a solution by standing on a patch of quicksand, the more and more the Greeks buy into the logic of the memorandum, the “recovery plan” with austerity, the deeper and deeper we will sink into the certainty of national suicide.
As we approach the 39th anniversary of the current parliamentary system, it becomes more clear that what started back then and what is happening now are directly connected, they are directly linked to the current drama that is unfolding before us, never forget that. Those who are responsible for the situation then, are exactly the same as those who are responsible for the situation now.
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Posted: 23 Jul 2013 05:20 AM PDT

The amassing of over 160,000 Russian troops, bombers, and naval ships under an emergency ‘combat readiness’ drill order is now making the rounds throughout mainstream media and talk radio after being blasted into the headlines.
Amazingly, just a bit over on week ago I covered the Russian ‘combat readiness’ order while in amazement that no one was discussing it despite admissions that it really was going on. It was breaking news for sure, especially when we get into what happened before this abrupt call to ‘combat readiness’ for the Russian military system (which I will detail shortly). Ultimately, and this is really quite disturbing, it was up to independent alternative news sites like Storyleak (with the help of Infowars and others syndicating the news to millions worldwide) to blast it into the mainstream media.
A reality that is actually quite concerning.
MEDIA MACHINE FOCUSES ON DISTRACTIONS
It truly paints a picture of just how the alternative media has become the new media when it comes to accessing information that is valuable and beyond the traditional spin of the day put out by news media juggernauts. Now let me be clear here, I understand of course the sources I’m referencing in regards to the Russian combat readiness drills are major publications — and oftentimes the major news companies do have the financial ability and workforce to deliver news stories from around the globe.
The problem comes with the subsequent spin, scripted rhetoric, and of course diversionary reporting on subjects far less important and irrelevant (such as continued 24/7 Zimmerman distraction news overshadowing the potential beginnings of a global conflict).
Even many prominent black celebrities and leaders actually understand what’s happening with the race baiting media right now, like Lupe Fiasco, who called out the media for turning the story into a racially-charged gimmick that was quickly turned from a legal battle to a racial battle. Meanwhile, of course, numerous blacks are killed in violent crime that go unnoticed. You see I’m about actually saving lives, using what we know has been shown to stop gun crime, and not ignoring the reality of what’s happening just because the media fails to discuss it.
But the simple fact is that the mainstream media can be augmented if we force them to pick up the news, and this latest piece is of extreme importance when you understand that the combat readiness drill was called into effect following an Israeli strike on Russian missiles in Syria — a potential provocation in the eyes of Putin and the Russian government. This is, of course, analysis you also will not find in many of the newer media reports — but at least it’s being discussed on a basic level.
And that’s thanks to you, the reader that actually cares about real news. The true measure of our success can be witnessed when considering how alternative news really works. After all, I am delivering news and analysis that I often find buried at the bottom of news stories or perhaps mentioned in passing within a piece piece that has only a few Facebook shares. After I detail what’s going on, it’s ultimately up to you, the reader, as to whether or not we will be changing the world in a matter of hours or days.
Thankfully, we do actually force the media to cover the news we dig up or they risk losing virtually 100% of their readership and falling flat on their face in a blatant display of failure when it comes to reporting on news that matters. Which is why we see a new trend of phony alternative news websites popping up around the internet and even an alternative news vibe becoming extremely popular on news television. What these pretenders will soon find out, however, is that it’s extremely easy to tell who is real and who is a fraudster — journalists and public figures who are not truly interested in seeking truth are destined to fail.
Ultimately, you are the new media — the alternative news media is now at the forefront of what’s truly important, and you the reader are what empowers it. Keep on spreading the word.
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Posted: 23 Jul 2013 03:27 AM PDT
Members of the Lebanese resistance movement, Hezbollah, wave the Hezbollah flag during a rally marking the party’s Martyrs’ Day in Beirut.
The European Union has put what it calls the military wing of the Lebanese resistance movement, Hezbollah, on its terror blacklist.
The decision was made unanimously after hours of discussions by the EU’s 28 foreign ministers at their monthly meeting. It came after prolonged diplomatic pressure from Washington and Israel.
The blacklisting would mean imposing visa bans on individuals and asset freezes on organizations associated with the group.
It could take up to two weeks before names of individuals and organizations within Hezbollah are added to the list, as officials would have to unravel the links between the different wings of the organization.
A number of European governments accuse Hezbollah of involvement in last year’s bomb attack in the Black Sea resort of Burgas in Bulgaria, which killed five Israeli tourists and one Bulgarian. Hezbollah has rejected the allegation.
Several EU nations also have pointed to Hezbollah’s fighting against foreign-backed insurgents in Syria as the main reason behind the decision.
Hezbollah officials in Beirut declined to immediately comment on the EU decision but in a May speech, Hezbollah Secretary-General Seyyed Hassan Nasrallah said any such move would be no more than “ink on paper.”
Beirut has urged Brussels not to move against the resistance group, describing it as an essential component of the Lebanese society.
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Posted: 23 Jul 2013 03:19 AM PDT

Istanbul’s administrative court gave a green light to demolish city’s Gezi Park, which was at the center of heated nationwide protests sparked by the decision to get rid of the park and turn it into a monument to the Ottoman Empire.
An Istanbul administrative court overturned a lower court’s ruling to stop the Turkish government’s plan to redevelop Istanbul’s Gezi Park after the Culture and Tourism Ministry appealed the verdict.
The new development includes the rebuilding of the Ottoman artillery barracks, which will have a shopping mall inside one of the buildings. The protests against the construction spread nationally since late May, growing into a larger opposition by those unhappy with Erdogan’s “authoritarian style of rule.”
The park has turned into a cradle of anti-government unrest, where the protests quickly became violent as police used teargas and water canon to disperse protesters.
The demonstrations, which went on throughout most of June, resulted in the death of four people and around 7,500 injured.
A police officer has also died after falling from a bridge while in pursuit of fleeing protesters in Adana.
Turkish Prime Minister Recep Tayyip Erdogan took a hard stance against anti-government demonstrators, calling them “marauders” and repeating the claims of protesters drinking alcohol in mosques and attacking women in hijabs.
Erdogan also focused on a foreign supported conspiracy, claiming the Turkish government has “all the evidence needed” of the “traitor scheme” behind the protests.
He also praised the police, saying that Western countries and Russia had been even tougher in cracking down on protests and used “bullets,” while the Turkish police have been “patient.”
During protests Turkish police fired teargas at close range directly at people, causing serious injuries, said a report by the Human Rights Watch. Those hit by canisters lost eyes and received life threatening skull fractures.
At least 11 people lost an eye after being hit by a teargas canister or a plastic bullet in Turkey up to June 27, said the statement by the Medical Association quoted in the report. Dozens of others received serious head or upper body injuries.
Reports said that the Turkish police used 130,000 teargas canisters over three weeks in June. In total, Turkey imported 628 tons of tear gas and pepper spray between 2000 and 2012, Turkish newspaper Sozcu reported, quoting Customs and Trade Minister Hayati Yazici.
On July 16, 2013, the European Court of Human Rights ruled in the case of Abdullah Yaşa and Others v. Turkey that “improper firing of tear gas by Turkish police directly at protestors, injuring a 13 year old, had violated human rights,” and called for stronger safeguards to minimize the risk of death and injury resulting from its use.
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