Tag Archives: Police

World Erupts in Anger: “You Can’t Eat Money!” (Photo Coverage)

This is one of the very few posts I’ve hoped I never had to deliver. But I’ve seen it coming for a long time. Tonight the world has exploded in anger and severeal places i sheere violence. I won’t comment much. These news photos from around the globe speaks for them self. I only hope that our political leaders and the powerful global corporations are able to read the message; that they understand the depth and severity of the crisis and realize that this is NOT ONLY A FINANCIAL CRISIS! It’s also a social and ecological crisis – and we can not solve one without solving the other two.

All over the world protests erupted, Saturday, several places resulting in brutal violence as protesters clashes with local police forces. At the moment the most violent scence are coming from the Italian capital, Rome. All protestes seems to gather around the same three slogans, indicating that theres may be some kind of coordination. These slogans are: “You Can’t Eat Money.” “We Are The 99%,” and “We Support Occupy Wall Street“.

The photos are syndicated by Associated Press and aftenposten.no.

ROME (Italy)

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AMSTERDAM (The Nederlands)

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BERLIN (Germany)

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MÛNCHEN (Germany)

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ZURICH (Switzerland)

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OSLO (Norway)

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LONDON (England)

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BUCAREST (Romania)

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TORONTO (Canada)

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TOKYO (Japan)

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HONG KONG (China)

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SAN DIEGO (USA)

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SYDNEY (Australia)

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South Korea

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Taiwan

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MANILLA (Phillepines)

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Related by the EconoTwist’s:

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Filed under International Econnomic Politics, Laws and Regulations, National Economic Politics, Philosophy

Summer's Over; Greek Protests Continues

About 15,000 protesters marched through the city center Sunday ahead of prime minister George Papandreou’s first speech after his summer vacation, chanting slogans such as “get the IMF out of Greece” and “make the banks pay for the crisis.” The Greek PM says no new austerity measures is needed if the country stayed its fiscal course. However, the people in the streets are still a bit skeptical; the police arrested a 49-year-old man for attempting to throw a shoe at Papandreou.

Vodpod videos no longer available.

“I have every confidence that at the end of the year we will have reduced, in accordance with our commitments and decisions, the deficit by 40 percent,” Papandreou said in Thessaloniki, northern Greece, yesterday.

“As long as we are progressing well, there is no need for any new measures.”

Papandreou also said his government averted “certain default” by agreeing to wage and pension cuts and tax increases in return for a 110 billion-euro ($139.5 billion) emergency-loan package from Euro-area nations and the International Monetary Fund on May 2.

The measures have hit employment and spending, with the economy shrinking for a second year and inflation rising to the highest since Greece adopted the euro.

The government plans to cut the budget deficit to 8.1 percent of gross domestic product this year from 13.6 percent last year.

Papandreou said a debt restructuring would have been catastrophic.

He also took the opportunity to announce a cut in taxes on retained earnings for companies to 20 percent in 2011 from 24 percent, and emphasized that the 4% tax cut will provide incentives to create jobs.

According to Bloomberg, about 15,000 protesters marched through the city center yesterday ahead of Papandreou’s speech, chanting slogans such as “get the IMF out of Greece” and “make the banks pay for the crisis.”

Police arrested and then released a 49-year-old man for attempting to throw a shoe at Papandreou.

Starting The Tax Hunt

Officials from the EU, IMF and European Central Bank, called the “troika” in Greece, begin a new round of visits in Athens tomorrow, primarily to discuss Greece’s planning for the 2011 budget, which is due to be submitted to parliament early next month.

The country expects to receive a second installment from the troika, of 9 billion euros, this week.

Papandreou said the country has begun seeking information from international banks to hunt down Greeks with accounts abroad who aren’t paying their taxes. A measurement already embraced by several other countries, amongst them USA and Estonia.

Look To Norway!

Greece’s economy contracted in the second quarter more than originally estimated, shrinking 1.8 percent from the first quarter. From a year earlier, GDP declined 3.7 percent.

The jobless rate in June slid to 11.6 percent from 12 percent in May.

Markets will be gradually convinced of Greece’s progress, Papandreou said, pointing to purchases of Greek debt by Norway’s $450 billion Government Pension Fund Global.

The extra yield that investors demand to hold Greek 10-year bonds compared with German bunds rose as high as 957 basis points on Sept. 8, just 16 points short of the record touched on May 7.

For those who are not too familiar with the investment strategy of the Norwegian Pension Fund, I’d like to add that at least 10% of total its total bond holdings are already invested in the PIGS-countries, (the fund refuse to disclose its holdings in Ireland), 50% of its equity investments are placed in the tumbling Chinese stock market and the so-called “Oil Fund” is the fourth largest shareholder in BP.

The smartest investment they’ve done so far is shorting the banks in Iceland just before they went down.

The Norwegian Pension Fund Global owns 1% of all the listed shares in the world, and 2% of all European.

Related by the Econotwist:

Default Now Or Default Later; Greece Still Withholding Critical Data

Morgan Stanley: Governments WILL Default

Brussels Tells Athens To Shut Up And Take The Pain

Greece About To Enter The Death Spiral

A European Revolution by December?

2000yr-Old Secret Organization Makes Threats Against Greek Navy Supplier

EU: Trading Bailouts For Weapons

Greece: Corruption Behind Crisis

Norway’s Government Pension Fund Takes $25bn Hit

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Banks Protesters Storm Irish Parliament

Protesters stormed Ireland‘s parliament last night during a march against government plans to inject billions of euros into the country‘s banks, the Belfast Telegraph reports.

Dozens of people broke away from the march and ran at the gates of the parliament’s main building, Leinster House, the newspaper writes.

They wrestled with police, who tried to force them back and secure the gate.

At least one man suffered a head injury during the scuffles with organizers appealing for calm.

Officers stopped the protesters from breaching the gate.

Gardai said no arrests were made and the scuffle was brought under control within minutes.

One man was seen walking away with blood dripping from the back of his head, according to belfasttelegraph.co.uk

This video is just uploaded on YouTube, apparently made by one of the protesters:

It is not the first protest i Ireland over the economic problems – here’s a BBC report from February last year:

Related by the Econotwist:

Gerald Celente: “The Great Crash Has Occurred”

Athens: Banks On Fire – Thee Dead

“The Economics Of War Unfolding Now”

Greek Protesters Start Blowing Up Banks

Athens Burning: Police And Protesters In Violent Clash

“We Stand At The Brink Of The Next Great Crisis”

Wave Of Protests To Hit Troubled E.U. States

U.S Pilot Crash Plane Into IRS Building

Germany In Favour Of Creating European Army

Norway’s Prime Minister Fears Social Unrest

Update: 1920-similarities

2010 Analysis: Warns Against Social Unrest

2010 Analysis: The Road to Disaster

Top 10 Risks of 2010

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Filed under International Econnomic Politics, National Economic Politics