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Government office torched in Israel in support of self-immolated protester

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Israeli protesters block a highway as they march through the streets of Tel Aviv to protest rising housing costs on July 15, 2012 Israeli protesters have torched a government office in Tel Aviv during a demonstration in solidarity with a man who recently self-immolated to protest against the Israeli economic policies. Over 2,000 Israelis gathered outside the office of National Insurance Institute in... 

Spanish unions mull general strike over austerity measures

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People protest against the Spanish government’s austerity measures in Malaga on July 13, 2012. A Spanish trade union leader has warned that unions were considering a general strike against the government’s new austerity measures. Secretary General of Comisiones Obreras trade union (CCOO) Ignacio Fernandez Toxo said on Monday that the strike was “unavoidable” if the government... 

Israeli protester sets himself on fire in critical condition

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An Israeli man sets himself on fire during protest in Tel Aviv on July 14, 2012. An Israeli protester, who set himself ablaze on Saturday night in the city of Tel Aviv, is fighting for his life after suffering extensive burns. Moshe Silman poured gasoline on his body and set himself on fire during a social justice demonstration. He was sent to Sheba Medical Center early on Sunday. Israeli President... 

Hundreds clash with riot police in Madrid

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Demonstrators take part in a protest against the Spanish government’s austerity measures on July 13, 2012, in Malaga Hundreds of protesters have clashed with riot police in Madrid over the new set of austerity measures. One person suffered a broken nose and three people were arrested. ­The protesters demonstrated on Friday evening outside the People’s Party offices of Spanish Prime Minister... 

US debt the real national security threat

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Drones, kill lists, computer viruses and administration leaks are all the rage in the current political debate. They indeed merit serious scrutiny at a time when the rules of war, and technologies available for war, are changing fast. That said, these issues are not the foreign policy centerpiece of the 2012 presidential race. Economic renewal and fiscal reform have become the pre-eminent issues,... 

Eurozone crisis to worsen with Greek bailout package

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A majority of people in four European countries believe that the eurozone crisis will worsen after giving Greece the 130-billion-euro financing package. The respondents to the phone survey that was carried out by the French opinion poll institute Ifop from June 18 to 21 were asked if they thought the eurozone economic crisis will worsen or improve after giving Greece the loan. The results of the survey... 

Eurozone unemployment rate at record high in May

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People wait in line at a government employment office at Santa Eugenia’s Madrid suburb on January 27, 2012. New data released by the European Union show that the unemployment rate in the eurozone hit a record high of 11.1 percent in May. According to EU’s statistics office Eurostat, more than 17.5 million Europeans were without a job in the single currency area in May. The figures indicated... 

Germany approves EU bailout fund

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The German parliament has voted in favor of the EU’s permanent bailout scheme and more lenient budget rules. Chancellor Merkel has been criticized with making a U turn in policy, easing borrowing costs on flagging banks without additional austerity. “Today Germany, with the approval of the fiscal pact and the ESM [European Stability Mechanism] by all parties in both houses of parliament, will... 

Thousands of Israelis protest rising cost of living, social inequalities

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Israelis hold banners as they protest in Tel Aviv city on June 30, 2012. Thousands of Israelis have staged rallies in several cities to protest against social inequalities and the rising cost of living. The demonstrations were held in Tel Aviv, Jerusalem and the northern city of Haifa on Saturday in an attempt to revive last summer’s cost-of-living protest movement. The protesters shouted, “The... 

Eurozone to blow up any time when unable to roll over credits

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Most EU members are in favor of issuing eurobonds, but Germany opposes mutual debt obligations. Don Coxe, an investor and chairman of Coxe Advisors LLP, says Berlin cannot afford to hand out more bailouts when confidence in EU banks is crumbling. ­The talks are taking place in Brussels, where EU leaders are meeting for two days to agree on new growth measures for the union. RT: In a recent blog article... 

Stockton to become largest US city to declare bankruptcy

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A home sale sign in Stockton, California, the United States, February 7, 2012 The city of Stockton in the US state of California is set to become the largest American city ever to declare bankruptcy as the financial troubles of the US deepen. A formal bankruptcy filing may come as early as Wednesday following the failure of negotiations between Stockton’s officials and creditors. The northern... 

Nokia closes all stores in Russia

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Finnish mobile phone manufacturer Nokia has officially announced that it was closing all of its flagship stores in Russia. The most effective sales channels for the company now are the Internet and a network of major retailers and service providers. According to Nokia’s representative in Russia, Lyudmila Semushina, the last single-brand shop will close in late July. The Finns will be developing... 

Cyprus applies for EU bailout

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The Cypriot government has issued a statement confirming that it has officially made an EU bailout bid, citing heavy exposure to debt-stricken Greece. This makes it the fifth state within the currency union to ask for help. The request comes just days before a deadline to recapitalize one of the country’s largest banks. “The purpose of the required assistance is to contain the risks to the Cypriot... 

Portuguese protesters hold anti-austerity rally in Lisbon

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Portuguese workers protest in a demonstration against the government’s austerity measures, Lisbon, June 16, 2012. People in Portugal have staged a protest rally against the government’s austerity measures imposed to help cap the country’s public debt. Thousands took to the streets of Lisbon on Saturday following a much larger rally in the northern city of Oporto last week. They condemned... 

Moody's: Spain three notches down, Cyprus two

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Rating agency Moody’s has cut its rating on Spanish government debt by three notches from A3 to Baa3. Cyprus’s sovereign debt was lowered by two notches from Ba1 to Ba3. The agency said Wednesday that Spain’s debt burden would increase once the EU has approved a plan to help the country’s banks. It has Spain under further review and could lower its rating even further, Reuters reports.... 
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