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Greece to need more bailout loans by start of 2014: Germany's central bank

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A German flag flies in front of the Bundesbank headquarters in Frankfurt. A report has revealed a document showing Germany’s central bank predicts that the recession-hit Greece will need more rescue loans from its international creditors by the start of the next year. According to the report published by prominent German magazine Der Spiegel earlier this week, the document from the Bundesbank... 

Egypt Central Bank receives USD 2 billion from Saudi Arabia

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Supporters of Egypt’s deposed President Mohamed Morsi walk past his portrait during a protest outside a mosque in Cairo on July 23, 2013. Saudi Arabia has transferred USD 2 billion to the Egyptian Central Bank as part of an aid package Riyadh has pledged to Cairo following the ouster of President Mohamed Morsi. The USD 2 billion of Saudi funds arrived in the form of a five-year interest-free... 

Greek civil service workers go on strike over massive layoffs

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Protesters attend a demonstration in Athens, Greece, July 8, 2013. Tens of thousands of Greek municipal workers have staged a strike to protest against the massive public sector layoffs enacted by the government in order to secure promised loans. Greek civil servants including policemen and schoolteachers took to the streets outside the Administrative Reform Ministry in Athens on Monday, as the government... 

Athens mayor attacked over job cuts tied to Greece bailout

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Athens Mayor Giorgos Kaminis Greek staff unionists have physically assaulted Athens Mayor Giorgos Kaminis amid protests against job cuts tied to Greece’s bailout, officials say. The mayor’s office said Kaminis was “physically attacked” on Sunday while he was leaving a Confederation of Greek Municipalities (KEDE) meeting, where he held discussions about the austerity measures and their affects... 

Banking scandal hits Ireland

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The global banking crisis of 2008, caused by the reckless behaviour of American lenders, spread shockwaves around the world that are still being felt today. Banking giants such as Lehmann brothers & Bear Stearns collapsed and other banks scrambled to secure ‘bailouts’ from their governments to avoid going the same way. In Ireland, the downturn in the property market caused the Anglo Irish... 

Germany agrees to pay $1 Billion in additional reparations to Jews

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The German government has struck a deal with the “Jewish Claims Conference” that will pay 772 million Euros (1 billion dollars) over 3 years as additional reparations to solely Jewish individuals that lived in German occupied territories in World War II. This money is not only for Jews that were imprisoned in concentration camps, but also applies to Jews who lived in open Ghettos within the German... 

EU releases bailout funds for Cyprus

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Cypriot women hold a protest outside the parliament, which was to debate a 10-billion-euro EU bailout, in the capital Nicosia on April 30, 2013. The European Union has handed over the first installment of a 10-billion-euro bailout to Cyprus as part of the aid package agreed earlier this year. The bloc’s European Stability Mechanism said in a statement on Monday that Cyprus received two billion... 

74 people killed, 99,043 others displaced by flash floods in Kenya

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At least 74 people have been killed and more than 99,000 others displaced as flash floods triggered by heavy downpours struck a number of areas in the East African state of Kenya. The Kenya Red Cross Society (KRCS) said on Friday that 40 people have been killed so far in Rift Valley, 21 in Eastern Kenya, and seven in coastal regions. The agency said the floods have also claimed four lives in Western... 

Cyprus to grant citizenship to biggest foreign bailout losers

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Cyprus will offer citizenship to foreigners who lost at least €3 million in state banks under the bailout deal, the country’s president has announced. The new measure, to a great extent affecting Russians, is expected to be approved on Monday. In remarks to Russian businessmen and media in the city of Limassol, President Nicos Anastasiades stated that his cabinet is seeking to approve the relaxation... 

Cypriot president's family to be probed

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Cypriot President Nicos Anastasiades Cypriot President Nicos Anastasiades says no one, not even members of his own family, will be immune to investigations of alleged financial wrongdoing in the run-up to an international bailout deal. Anastasiades made the remarks on Monday evening in reaction to reports accusing his relatives of transferring millions of euros out of the island state to London. A... 

President slashes own wages as Cypriots face €300 daily cash limit

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Cypriots queue for banks, which reopened after 12 days Thursday, as President Nicos Anastasiades cuts own wages by 25%. The Cypriot foreign minister promises banking restrictions will be lifted in “about a month”. A European Central Bank (ECB) spokesman confirmed that 5 billion euros were flown into Cyprus from Germany late Wednesday in time for the reopening of the banks on Thursday, The ECB... 

Cypriot parliament rejects EU-IMF bailout tax on bank deposits

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Cypriot MPs vote on a controversial bailout package during a parliament session in Nicosia on March 19, 2013. The Cypriot parliament has voted against a revised bank deposit levy. The tax was meant to shave 9.9% off any deposits over €100,000 and has since caused uproar in the country. Thirty six deputies voted against the proposal to tax bank deposits in the 56-member chamber, while 19 abstained.... 

UK sends flight loaded with 1 million Euros to Cyprus based troops

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Britain’s Royal Air Force is flying out one million euros ($1.3 million) in emergency loans for UK military personnel, as a “contingency measure” in case debit cards and cash machines stop working on the island. Britain’s ministry of defense (MoD) said the flight has a “contingency measure” in case banks in Cyprus stop giving out cash, as the country deals with the fallout from a controversial... 

Greenspan Discusses the End of the Fed… What Comes Next?

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An interesting article in Forbes entitled “If Alan Greenspan Wants To ‘End The Fed’, Times Must Be Changing,” informs us that the predictions we made long ago about the Federal Reserve are coming true. The author of the article is Nathan Lewis, an economist, former strategist for institutional investors and author of a best-selling book Gold, the Once and Future Money. Our predictions regarding... 

Europe Recoils In Shock After Bankster Raid, US Warned Is Next

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A truly grim Ministry of Finance (MOF) report circulating in the Kremlin today says that a state of “horror and shock” has descended upon the European Union this weekend after the unprecedented announcement that all of the bank depositors in Cyprus will be forced to give up a percentage of their savings in order to bailout their EU bankster overlords. According to this report, EU officials demanded... 
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