– Grexit “Disaster” Looms As Greek Hospitals Run Out Of Sheets, Painkillers (ZeroHedge, May 24, 2015):
“Greek hospitals have run out of supplies such as painkillers, scissors and sheets as budget cuts have left the health service unable to provide even basic provisions for operations and medical procedures,” The Independent reports. With Tsipras still refusing to compromise on campaign “red lines,” the end game is quite clearly approaching.
Tags: Collapse, EU, Europe, Global News, Government, Greece, Politics, Society
H/t reader M.G.:
“From Bloomberg…..ECB gave Greece a small stipend to keep the insanity going….there is much more to this than meets the eye. Why are they keeping it going?
What are they trying to hide?
There must be an enormous amount of fraud behind the scenes….”
– ECB Gives Greek Banks Smallest Aid Rise Yet Ahead of Summit (Bloomberg, May 20, 2015):
The European Central Bank approved the smallest rise in emergency cash for Greek lenders since tensions re-emerged in February, a sign that deposit outflows may be easing as political talks on the nation’s finances improve.
At a meeting in Frankfurt on Wednesday, the Governing Council consented to a 200 million-euro ($222 million) increase in the cap on Emergency Liquidity Assistance to 80.2 billion euros, people familiar with the discussion said. No decision was taken to alter the discounts applied to the collateral pledged for the Bank of Greece loans, the people said, asking not to be named as the matter isn’t public. Continue reading »
Tags: Banking, ECB, Economy, EU, Europe, Global News
– Greece Says That It Will Default On June 5th, And Moody’s Warns Of A ‘Deposit Freeze’ (Economic Collapse, May 20, 2015):
The Greek government says that a “moment of truth” is coming on June 5th. Either their lenders agree to give them more money by that date, or Greece will default on a 300 million euro loan payment to the IMF. Of course it won’t technically be a “default” according to IMF rules for another 30 days after that, but without a doubt news that Greece cannot pay will send shockwaves throughout the financial world. At that point, those holding Greek bonds will start to panic as they realize that they might not get paid as well. All over Europe, there are major banks that are holding large amounts of Greek debt and derivatives that are related to the performance of Greek debt. If something is not done to avert disaster at the last moment, a default by Greece could be the spark that sets off a major European financial crisis this summer. Continue reading »
Tags: Banking, Bonds, Debt, Economy, EU, Europe, Global News, Government, Greece, IMF, Politics
– Greece To Tax Bank Transactions, Says IMF “Won’t Get Any Money” On June 5 (ZeroHedge, May 20, 2015):
On Monday we got still more bad news for Greece. Around one-third of Angela Merkel’s Christian Democratic bloc opposes further aid for Athens meaning the Chancellor faces an uphill battle in convincing German lawmakers to keep Greece on life support. Meanwhile, a new report from the Hellenic Confederation of Commerce and Enterprises suggests that each day without a deal costs the Greek economy €22.3 million.
Not to put too fine a point on it, but Tuesday’s headlines are even worse.
First, up is parliamentary speaker Nikos Filis confirming what the IMF leaked on Saturday: without a deal, Greece will default on June 5.
Greece will not be able to make a payment to the International Monetary Fund that falls due on June 5 without a deal with its international lenders, the government’s parliamentary speaker said on Wednesday. Continue reading »
Tags: Banking, Collapse, Debt, EU, Europe, Global News, Government, Greece, IMF, Politics, Society
– Are They About To Confiscate Money From Bank Accounts In Greece Just Like They Did In Cyprus? (Economic Collapse, May 18, 2015):
Do you remember what happened when Cyprus decided to defy the EU? In the end, the entire banking system of the nation collapsed and money was confiscated from private bank accounts. Well, the nation of Greece is now approaching a similar endgame. At this point, the Greek government has not received any money from the EU or the IMF since August 2014. As you can imagine, that means that Greek government accounts are just about bone dry.
The new Greek government continues to insist that it will never “violate its anti-austerity mandate”, but the screws are tightening. Right now the unemployment rate in Greece is over 25 percent and the banking system is on the verge of collapse. It isn’t going to take much to set off a panic, and when it does happen there are already rumors that the EU plans to confiscate money from private bank accounts just like they did in Cyprus. Continue reading »
Tags: Banking, EU, Europe, Global News, Government, Greece, Politics
– Monsanto Knew of Glyphosate Cancer Link 35 Years Ago
– Monsanto Employee Admits An Entire Department Exists to ‘Discredit’ Scientists
More info down below.
– Victory: German Retail Giant Removes Glyphosate from 350 Stores (Natural Society, May 12, 2015):
Now US stores just need to follow
I recently snapped a photo from an advertising circular that was delivered to my home, proudly promoting Monsanto’s ‘probably carcinogenic’ Round Up, on sale no less, at a local hardware store. While US garden and DIY stores are still selling cancer-causing poison in a jug, a German retail giant will no longer carry glyphosate-containing products as of September 30, 2015More than 350 ‘toom Baumarkt DIY’ stores belonging to the REWE Group are removing any product that contains this endocrine disrupting chemical concoction, and as of today, no such products can be re-ordered from their stores. Continue reading »
Tags: Economy, EU, Europe, Germany, Global News, Glyphosate, Monsanto, REWE, Roundup Ready, Toom Baumarkt
– Abolishing Cash – New Age of Economic Totalitarianism (Armstrong Economics, May 18, 2015)
Tags: Banking, Dictatorship, Economy, EU, Euro, Europe, Global News, Government, New World Order
– “Cash Is Coined Freedom”: War on Cash Becomes Official in Germany, Reaches G-7, Draws Withering Fire (Wolf Street, May 18, 2015)
Tags: EU, Euro, Europe, Germany, Global News, Government, New World Order, Politics
– Are They About To Confiscate Money From Bank Accounts In Greece Just Like They Did In Cyprus? (Economic Collapse, May 18, 2015)
Tags: Banking, Cyprus, Economy, EU, Europe, Global News, Government, Greece, Politics
– Shape Of Greek Endgame Emerges: IMF Discussed “Cyprus-Like” Plan After Tsipras Warned Of Looming Default (ZeroHedge, May 18, 2015):
The IMF discussed a “Cyrpus-like” take it or leave it solution for Greece last week, FT reports. With the countdown to outright insolvency down to two weeks, PM Tsipras will meet EU leaders in Latvia on Thursday to make one last push for a last minute deal. Meanwhile, the fate of the Greek banking sector hangs in the balance as the ECB has come under fire for the monetary financing of the Greek government.
Tags: Alexis Tsipras, EU, Europe, Global News, Government, Greece, IMF, Politics, Yanis Varoufakis
– Greece Will Default On June 5 Without Deal, IMF Leaks (ZeroHedge, May 16, 2015):
Another week came and went with no breakthrough in negotiations between Greece and its creditors. The IMF is now fed up and has reportedly refused to be a part of any new bailout program for Greece, after Athens drew down its SDR reserves to makes its latest payment to the Fund. That money will now need to be repaid and in a move that surely marks the new gold standard for absurd circular funding schemes, Greece will likely look to use the next tranche of IMF money to payback its IMF SDR reserve which it tapped to pay the IMF. The country’s public sector employees live in limbo, not knowing from one week to the next whether they will be paid and commuters are now subjected to a 50 second looped highlight reel of the Nazi occupation meant to rally the country behind the government’s quarter trillion euro war reparations claim (they might as well just ask for a ‘gagillion’) on Germany which has now become the symbol of tyranny and debt servitude for many Greek citizens. Continue reading »
Tags: Bonds, Debt, Economy, EU, Europe, Global News, Government, Greece, IMF, Politics
– Bundesbank Blasts Draghi For Breaking Bailout Taboo (ZeroHedge, May 14, 2015):
“The head of Germany’s Bundesbank ripped into the European Central Bank on Thursday, saying emergency funding for Greek banks broke the taboo of financing governments and it was not up to central banks to decide who was or wasn’t in the euro zone,” Reuters reports.
Tags: Bundesbank, ECB, Economy, EU, Europe, Global News, Mario Draghi
“Greece tapped emergency reserves in its holding account at the IMF in order to make a 750 million euro payment to the Fund on Monday meaning that, as predicted, the IMF is now paying itself. Athens has one month to replenish the account. Meanwhile, the Fund has indicated it wants no part of another Greek bailout. And just to confirm how terminal the situation for Greece is, MarketNews just reported that Greece now has a paltry €90 million in cash reserves left. The end of the world’s most drawn out tragicomedy is finally nigh.”
– Greece Effectively Defaults To IMF Using SDR Reserves To “Repay” Fund; 1 Month Countdown Begins (ZeroHedge, May 12, 2015):
When Monday’s Eurogroup meeting concluded without an agreement between Greece and its creditors, it should have been game over for Athens. With pensioners at their breaking point and with local governments reluctant to comply with a decree mandating a sweep of excess cash reserves, the idea that Greece would somehow be able to scrape together €750 million euros to make a scheduled payment to the IMF today seemed far-fetched at best which is why we asked the following question Monday afternoon:> Continue reading »
Tags: Bonds, Debt, Economy, EU, Europe, Global News, Government, IMF, Politics
– Demographic Devastation: Italy’s Birth Rate Drops To 150 Year Low (ZeroHedge, May 12, 2015):
Italian women would “like to have more [children], but the conditions just aren’t good enough,” laments one new mother as CBS News reports, official figures show that in 2014 there were fewer babies born in Italy than at any time since 1861. “Nowadays people don’t want to raise their child in poverty,” but Pope Francis had a different opinion, as The Guardian reported, “a society with a greedy generation, that doesn’t want to surround itself with children, that considers them above all worrisome, a weight, a risk, is a depressed society.”
Tags: EU, Europe, Global News, Italy, Society
H/t reader M.G.:
“Another interesting twist of events. Russia asked Greece to join their BRICS bank…….
That Greek port must be quite valuable…”
– Russia invites Greece to join BRICS bank (RT, May 12, 2015)
Tags: Banking, BRICS, Economy, EU, Europe, Global News, Government, Greece, Politics, Russia
– The Situation Escalates – Greece Is Now Taxing Cash Withdrawals (Secular Investor via ZeroHedge, May 11, 2015):
The saga (or drama, if you like) in Greece is continuing and even though the country was able to make a 200M EUR interest payment to the IMF earlier this week, markets shouldn’t be too optimistic just yet as that payment is less than 5% of the total cash amount it has to pay in the next 4-5 weeks.
Indeed, Greece has just 3 days left to find 750M EUR to meet the requirement of a principal payment to the IMF which is due next Tuesday, and we consider it to be quite impossible for the country to meet this demand without finding additional sources to generate cash from. Continue reading »
Tags: Banking, Capital Controls, Economy, EU, Europe, Global News, Government, Greece, Society