#2
Here is a link, gromky, though it may not be the one tipper intended.
The International Swaps and Derivatives Association (ISDA) has decided unanimously today to declare that Greek's bond swap constitutes a "credit event" and that "the right of all holders of the affected Bonds to receive payments has been reduced," according to release published by the ASDA late Friday.
#3
Or perhaps this Forbes article was meant, which makes things even more interesting:
UPDATE 2 (2:48 p.m.): ISDA has now declared that Greeces restructuring does represent a default, meaning credit default swaps will trigger. Read the statement here.
#6
Link goes where? A summary would be nice, too.
Gromky, my summary is that Greece is now officially for sale to the highest bidder, probably the US, but they will have to be quick to beat China. Ever since Israel discovered an deep sea oilfield off its shoreline, other countries in the Mediterranean have also started searching. It appears there is bonanza of oil and gas to be had. But you can't do much if you're broke, hence Greece will have to invite a sugar daddy in, to keep them in the style to which they have become accustomed.
#7
More likely they'll be able to hand over the oilfields for someone else to keep themselves in the style to which the Greeks had formerly been accustomed.
h/t Gates of Vienna
A bad wind blows from Norway onto the world. It is not only the monstrous massacre by the deranged Breivick perpetrated for several hours without the police intervention. Now is added the political violence of a desperate government before the past elections that it would probably have lost if the horror caused bythe killing spree of a psychopath, had not given it victory. Exploiting politically this crime, the government launched its bloodhounds, its anathemas, its fatwas and edicts against all writers on the planet who, painfully defying terrorism, professional ruin and social ostracism imposed by the single thought, struggle to maintain democratic freedoms and human dignity in Western societies. The crime of Breivick strengthened the government party and took hostage the right to think, speak and criticize political power. It imprisoned Westerners in the jail of totalitarianism and intellectual tyranny by criminalizing critical thinking.
Continued on Page 47
Posted by: Water Modem ||
03/09/2012 00:00 ||
Comments ||
Link ||
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Top|| File under:
#1
This one bears close watching. Will the rest of the world force the EU to put commercial interests ahead of environmental interests? If so, then the issue might set the high water mark for hysterical environmental psuedo-science.
#2
This could lead to a major trade war. Imagine if Uncle Sam decide to impose a tax on EU airlines equal to the amount levied on American airlines. And other countries took the same action to recover fees imposed on their national airlines.
#3
This is yet another reason that any GOP candidate is preferable to Obama - a GOP prez would probably coordinate retaliatory action with the rest of the world.
#4
this will give the EU the excuse it needs to back out of their policy
tom friedman will ignore it and praise China anyway
obama will blame Bush or big oil; whatever
Posted by: Lord Garth ||
03/09/2012 0:32 Comments ||
Top||
#5
But in December, the European Court of Justice ruled that the EU levy on CO2 pollution from aircraft was legal. No air carrier will face a bill until 2013 after this year's carbon emissions have been tallied.
Gee, I wonder if the cost of flying will go up?
It's not a "levy", it's a tax, one designed to give the taxers more money to spend while discouraging air transportation.
The elities will still have to fly to carbon conferences, of course, because the cost is picked up by the taxpayers.
Posted by: Bobby ||
03/09/2012 6:14 Comments ||
Top||
#6
The hidden factor behind this is that this tax was a barely concealed effort to create an "international tax", which internationalists have been clamoring for, for years.
They lust for an international tax on *anything*, so that it would not be controlled by individual nations more than willing to close the money spigot. As things are now, the money always comes with strings attached, and they hate this.
Other proposals along this line are an international financial transaction tax, or just taxes on international currency transactions, an international tax on aviation fuel, a tax on airline tickets, carbon use taxes, including a 4.8-cent tax on each gallon of gasoline, an international shipping tax, and other taxes on an extensive range of transactions, goods and services.
And of course, an international tax to pay for the United Nations, and an independent UN military, to give food to the world's poor, for the Organization for Economic Cooperation and Development (OECD), to support the IMF and World Bank, to pay for the Kyoto and related treaties,
and, rather blatantly, "internationalism" itself.
And the OECD and UN are already using US money to lobby congress to create such taxes. Which is unlawful for anyone else to do.
#7
Oh, and this is far from an inclusive list. Just after writing it, I have remembered several more such schemes, such as funding major initiatives by the World Health Organization, major "world cultural" (think mosque) preservation and restoration, and real insidious ones like funding for "Agenda 21" and other such insane tyrannies.
These people obviously have nothing productive or creative to do, so they spend all their time trying to persuade others to make them wealthy and powerful.
French President Nicolas Sarkozy ...23rd and current President of the French Republic and ex officio Co-Prince of Andorra. Sarkozy is married to singer-songwriter Carla Bruni, who has a really nice birthday suit... admitted publicly Thursday he will quit politics if he loses next month's election, as his Socialist challenger pressed home his attacks on the incumbent's record.
"You won't have Dick Nixon to kick around anymore."
"I tell you, yes," he replied when asked on a television program if he would withdraw from public life if, as opinion polls predict, he loses to Socialist Francois Hollande in the two-round vote in April and May.
But Sarkozy made clear he had not already thrown in the towel, announcing a raft of new measures after a week that saw his re-election campaign take a sharp turn to the right on integration and immigration issues.
He told BFMTV he was working on a new plan to help La Belle France's underprivileged and unruly suburbs, a fund to help single mothers, and extra measures to stop people cheating on social security benefits.
Sarkozy has failed to narrow the gap with Hollande -- who has enjoyed a clear opinion poll lead for five months -- and this week pulled out all the stops to revamp what many critics say has been a lacklustre campaign.
In a marathon three-hour television interview on Tuesday, he declared that there were too many immigrants in La Belle France and that the country's attempts to integrate foreign arrivals into its culture and society had become paralyzed.
That statement came as French Jewish and Mohammedan leaders united to complain they were being used as pawns in a presidential election increasingly dominated by bitter disputes over national identity and ritual slaughter.
Sarkozy picked up on a debate about halal meat -- initially launched by the anti-immigrant National Front leader Marine Le Pen -- and declared that its spread in butchers' shops was a major problem for the French.
That fuelled accusations that he is pinning his hopes on catching up on Hollande -- in what appears to be shaping up as a clear two-horse race -- in winning back voters who lean towards the National Front.
Others accused him of being sidetracked by side issues at a time when La Belle France is struggling to generate growth and to escape the Eurozone financial crisis.
Hollande, who has never held a ministerial post and whose ex-partner Segolene Royal lost to Sarkozy in 2007, this week, pressed home his attacks on his rival's record in five years at the Elysee palace.
He mocked Sarkozy's plan -- announced Tuesday -- to slap a new tax on the profits of listed companies which he said would bring in up to three billion euros ($3.9 billion) a year to help cut the public deficit.
"Nicolas Sarkozy has realized at the end of his term that some of the country's biggest companies ... beat feet paying tax," he said Wednesday.
"It would have been a better idea to do that in 2007," said the 57-year-old, who hopes to become the first Socialist president since Francois Mitterrand was re-elected in 1988.
Sarkozy has been accused of favoring the rich, but in recent weeks has tried to dispel that image by announcing he wants to ban big pay-offs to corporate bosses and to hit big firms with more tax.
Hollande for his part has declared that the "world of finance" is the adversary and said he wants a 75 percent tax rate on annual income above one million euros.
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
French President 
