Hard hitting global and local news
Backing up what Ambrose Evans-Pritchard said with hard data, the Italian site Il Sole 24 Ore reports New Fall in Bank Lending to Households and Businesses . Loans to businesses and non-financial families continue to face strong decrease
Flash Eurozone PMI Composite Output Index at 46.5 (47.9 in February). Four-month low
Le Monde Headline "No, France is Not Bankrupt" This amusing headline story by Bruno Moschetto, a professor of economics at the University of Paris in the French newspaper Le Monde has me laughing out loud this morning: " No, France is Not Bankrupt " No, France is not bankrupt …
More: "The Positive Impact of the Declining Yen Has Yet to be Seen"
If you need a break from money supply, jobs, Cyprus, France, Europe in general, or housing (who doesn’t) I have a wonderful visual diversion that is literally “out of this world”. You can Watch the Aurora Borealis from an International Space Station that captures otherworldly famous lights.
From the library of genuine news, Reuters reports Cyprus parliament rejects deposit tax for bailout . Cypriot lawmakers overwhelmingly rejected a deeply unpopular tax on bank deposits on Tuesday, throwing into doubt an international bailout for the troubled euro zone member needed to avert default and a banking collapse
Staged Vote? In spite of the 1-Not Present, 36-No, 19-abstentions vote in the Cypriot parliament, one really has to wonder if this was a staged vote to show solidarity with Cypriot citizens, with some sort of face-saving deal already approved for tomorrow (in which the Cypriot parliament votes yes by a slim majority in return for minor concessions from the ECB and Germany). In short, it is unclear if we really know what is happening in the Cypriot parliament.
Speculation on Cyprus is rampant. It is difficult to separate fact from fantasy as reports as to what is happening vary widely. For example Ekathimerini reports ” Cypriot Finance Minister Michalis Sarris is about to be replaced upon his return from his current trip to Moscow, Kathimerini understands, as he no longer enjoys the support of President Nicos Anastasiades following his handling of the crisis
Here’s one for the thick book of EU lies and hypocritical statements " Deposit guarantees only protect against bankruptcy, not levies " Guarantees on deposits in the European Union are only there if a bank completely collapses, and does not protect from fiscal steps decided by parliaments, the European Commission said on Tuesday, defending a decision to impose a levy in Cyprus. Excuse Me! What are the Cyprus banks, if not shutdown, collapsed, and bankrupt
Links NATO Proxies Using WMD’s in Syria – Dozens Dead March 19, 2013 (LD) UPDATED – After a 10 year war/occupation in Iraq, the death of over a million people including thousands of US soldiers, all based on patently false claims of the nation possessing "weapons of mass destruction," (WMDs), it is outrageous hypocrisy to see the West arming, funding, and politically backing terrorists in Syria who in fact both possess, and are now using such weapons against the Syrian people. At least 25 are reported dead after a chemical weapons attack targeting Syrian soldiers was carried out by NATO-backed terrorists in the northern city of Aleppo. While NATO-backed terrorists claim they lack the "expertise" to even use chemical weapons, it was reported by CNN in their December 2012 article, " Sources: U.S