All posts by nedhamson

Activist, writer, researcher, addicted to sharing information and facts.

Interview with German Economist Peter Bofinger on Perils of Cyprus Bailout – SPIEGEL ONLINE

Bofinger: Shaking the confidence of depositors across Europe cannot be the solution. Those seeking to save the euro should be contributing true aid during an emergency.

SPIEGEL ONLINE: You mean they should give free money to Cyprus?

Bofinger: At the end of the day, it would be better to take charge and provide a billion euros to rescue the small-scale savers in Cyprus than to risk a collapse of the euro financial system.

SPIEGEL ONLINE: But that would also mean entering into a transfer union and breaking another taboo that is at least as big. Greece, Portugal, Spain and co. would want their money for free in the future, too.

Bofinger: That can be easily avoided. Cyprus is a special case, and it can be communicated as such. No other euro-zone country in Southern Europe has such a bloated financial sector. And there is no other country that could have a comparable domino effect in the euro crisis. Cypriot banks lent some €22 billion to Greek firms and private households, and they have suffered very high losses as a result of the restructuring of Greek bonds.

via Interview with German Economist Peter Bofinger on Perils of Cyprus Bailout – SPIEGEL ONLINE.

Egyptian Aak (Week 11): When Fecklessness is An Attitude.

Nervana

Bakers(Bakers protest in front of Ministry of Supply via  Elijah Zarwan)

Main Headlines

Monday

Tuesday

View original post 1,374 more words

Just 4 billionaire tax exiles – friends of Cameron – will benefit from weak press regulation

Friendship has no limits it seems when it comes to doing favors against the public interest…

Pride's Purge

(not satire – it’s the UK today!)

The vote in parliament about press regulation tomorrow is not about freedom of speech or press freedom.

It’s about the right of exactly four billionaire press barons – most of whom don’t even reside or pay taxes in the UK – to freely lie and play fast and loose with the truth about whoever and whatever they want.

The majority of the national UK press is owned by just four people – Lord Rothermere, the two Barclay brothers and Rupert Murdoch.

These four people – all friends of David Cameron – think they are entitled to strongly influence political decisions made in a country most of them avoid paying their tax to.

After all – if these four people were all that bothered about freedom of speech – how come all four of them were so keen to propose limiting the…

View original post 237 more words