There’s been some excitement in the air about the fact that the Greek government and representatives of the banking sector are reportedly nearing an agreement on the terms of a deal to restructure the countries debt as part of a controlled default. (more)
DURBAN, South Africa (AP) — Back-room negotiations began in earnest Monday on a deal to rescue the only treaty governing greenhouse gas reductions and to launch talks on a broader agreement to include the world’s largest polluters: China and other emerging economies, the United States and Europe. (more)
BRUSSELS (AP) — EU foreign ministers failed Thursday to reach an agreement to impose an oil embargo against Iran — a measure that some argued would have choked off funding for Iran’s alleged program to develop nuclear weapons. (more)
BRUSSELS (AP) — The European Union wants to replace a mishmash of national laws on data protection with one bloc-wide reform, updating laws put in place long before Facebook and other social networking sites even existed. (more)
Mr Papandreou will meet Greek President Karolos Papoulias immediately after an emergency cabinet meeting has finished. (more)
BRUSSELS (AP) — The Belgian state will buy the national subsidiary of embattled bank Dexia for euro4 billion ($5.4 billion) and provide tens of billions of euros in new guarantees as part of a wider bailout of the lender, the first victim of a new squeeze in European credit markets. (more)
The genius of politics often consists in disguising obvious facts. When it comes to Greece, a few facts should be clear. (more)
So far, Barack Obama and his Republican challengers have refused even to mention the biggest issue facing America in 2012. Perhaps they’re scared. Perhaps they’re in denial. In fairness, our domestic problems are now so serious that even the most discerning members of our leadership class could be forgiven for developing a touch of intellectual tunnel vision. (more)
LONDON — European officials on Thursday sought to calm fears over a possible financial collapse in Greece, saying that short-term aid to Athens was imminent, even as the euro slumped and concern heightened that debt troubles could engulf larger economies such as Spain. (more)
Despite our own huge debt problems, President Obama wants to pledge billions of dollars (if he can get the Chinese to loan us the money) to the International Monetary Fund to help the EU bail out Greece. Instead of listening only to his Euro-elite chums, Obama would benefit from a conversation with the no-nonsense folks in Finland’s True Finn party. I recently met with some party leaders in Helsinki and learned that True Finns are causing a ruckus not just in Finland but in the entire EU for their steadfast opposition to the Greece/Spain/ Portugal/Ireland bailouts, and the party’s popularity is surging as a result. (more)
Greece’s economic problems are massive, with protests against the government being held almost daily. Now Prime Minister George Papandreou apparently feels he has no other option: SPIEGEL ONLINE has obtained information from German government sources knowledgeable of the situation in Athens indicating that Papandreou’s government is considering abandoning the euro and reintroducing its own currency. (more)
A few days ago, Portugal officially requested a $116 billion bailout from the European Union and the International Monetary Fund. This makes Portugal the third European nation to seek such a bailout in the past year (Greece got $157 billion; Ireland $122 billion). What most people don’t realize is that the U.S. is the largest contributor to the IMF. Therefore, U.S. taxpayers are paying for Portugal’s bailout, which — like the earlier bailouts of Greece and Ireland — was caused by too much government spending and borrowing. (more)
LISBON, Portugal (AP) — Portugal asked for a bailout Wednesday to relieve its crushing debt, joining Greece and Ireland by becoming the third eurozone nation to seek outside help amid a bruising financial crisis. (more)
BRUSSELS (AP) — The European Union’s justice commissioner asked publicly listed companies to appoint more women to corporate boards and threatened them with imposed quotas if they don’t. (more)
If a government falls and practically nobody hears it, does it make a sound? (more)
BERLIN (AP) — Revolutions hurtling through the Middle East have inspired millions of Europeans, who recall the awe they felt when communist regimes crumbled across the former Soviet bloc. But along with excitement come questions, fears and doubts — as the flames of revolt shoot up on the continent’s very doorstep. (more)
Russia will not support future sanctions against Iran, Russian Foreign Minister Sergei Lavrov said in London on Tuesday. (more)
BRUSSELS (AP) — The European Union’s top competition regulator on Wednesday blocked the merger between Greek airlines Olympic Air and Aegean Airlines SA, saying a combined carrier could monopolize Greek air travel. (more)
In tonight’s State of the Union speech, President Obama called for massive new “investments” in renewable energy. By that he means that he wants to transfer billions of dollars to the renewable energy industry via subsidies, while also accomplishing his previously expressed goal of making “electricity prices necessarily skyrocket.” (more)
