Austerity Hits Cisco Systems as 1,300 Layoffs Coming; Chipmaker Renesas Cuts 5,000 Jobs; Investigating Mass layoffs
Read More: Austerity Hits Cisco Systems as 1,300 Layoffs Coming; Chipmaker Renesas Cuts 5,000 Jobs; Investigating Mass layoffs
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Read More: Austerity Hits Cisco Systems as 1,300 Layoffs Coming; Chipmaker Renesas Cuts 5,000 Jobs; Investigating Mass layoffs
Wider UNSC dissension, Turkish offensive against its own “rebels,” and Iraq’s rejection of latest “Arab League” statement before massive Al Qaeda attacks. by Tony Cartalucci July 23, 2012 – Scratching just below the surface of the Western media’s headlines are stories carrying greater implications – stories the West believes are better left untold. “Operation Damascus Volcano” Followed Weeks of Warnings of Impending NATO Psy-Op.
July 23, 2012 (Images & captions added) The protests that have broken out in Sudan are, on the surface, the manifestation of legitimate grievances. Portrayed in the Western media as a direct response to austerity measures implemented by Sudanese President Omar al-Bashir , these protests indicate a strong current of dissatisfaction among the people of the country. However, seen from a broader, more critical perspective, the demonstrations are the tangible fruits of a carefully constructed destabilization campaign incorporating opposition political parties, civil society groups, non-governmental organizations (NGOs), Hollywood celebrities and Western financiers. These powerful forces have aligned against the government in Khartoum in order to execute the geopolitical agenda of the imperialist ruling class in the West. The Development of the Protests The immediate impetus for the protests, which broke out in recent weeks in and around the capital of Khartoum, was the announcement of the removal of fuel subsidies. This troubling development, coupled with other austerity measures such as the reduction of government jobs and the devaluation of the currency, were designed to mitigate the effects of soaring inflation in Sudan. However, because of the integral role of fuel prices in the Sudanese economy, the move seemed to spark mass indignation. In a country already dogged by high unemployment and rampant poverty, these difficult decisions inflamed already high tensions throughout the country.  Image : Areas in red are either being destabilized, already wrecked (Libya), while areas in blue include areas of American influence, or in Iraq’s case, recent occupation replaced with a covert presence
Black Monday messages on Facebook and Twitter have gone viral in Italy as people have had enough of austerity, job losses, and uncertainty. La Stampa reports on Panic in the Network
On the good news front, an excellent post from David Roberts on the amount of emissions the US has cut in recent years. Go read
Read the original post: Ten Major Italian Cities On Verge of Financial Collapse
El Pais reports Full Spanish Bailout Increasingly Likely "The financial credibility of Spain is close to zero. Fiscal credibility is zero. The political credibility is zero.
According to Der Spiegel, the IMF Wants to Stop Aid to Greece as soon as the ESM is up and running in September. At that time Greece would become bankrupt. This is a Mish-modified translation from German: The patience of the International Monetary Fund (IMF) with Greece comes to an end: According to to information obtained by SPIEGEL, senior IMF officials told EU leaders in Brussels that the IMF was no longer willing to provide additional funds for Greece
At long last, everyone is willing to wave the white flag on a Greece exit from the eurozone. Please consider German Vice Chancellor ‘Very Skeptical’ Greece Can Be Rescued . German Vice Chancellor Philipp Roesler said he’s “very skeptical” that European leaders will be able to rescue Greece and the prospect of the country’s exit from the euro had “lost its terror.” Roesler, who is Germany’s economy minister, told broadcaster ARD that Greece was unlikely to be able to meet its obligations under a euro-area bailout program as its international creditors hold talks this week in Athens.