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Irish MEP calls Olli Rehn to resign over Cyprus bailout fiasco

Nessa Childers, Member of the European Parliament from Ireland, called for Economic and Monetary Affairs Commissioner Olli Rehn to resign over the Cypriot bailout fiasco. For this reason, Childers wrote a letter to European Commission President Jose Barroso. In her letter dated March 19th, 2013, Childers writes: “Today I have …

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EU bans new cosmetics with animal-tested ingredients; some loopholes though…

No new cosmetic product containing ingredients tested on animals can be sold within the European Union, after a relevant decision by the EU Commission released on Monday.  Animal rights groups were quick to cheer the measure, but Cosmetics Europe, a trade body representing the EU’s (euro) 71 billion ($93 billion) industry, said …

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Greek patients in panic as drugs disappear from pharmacies

A friend called me in an incredible angry mood this morning. “Thugs! Thugs! Thugs!” she roared in my ear, “they’re all thugs! The health ministry, the pharma companies, everyone!” Reason for my friends outburst was that one epilepsy drug suddenly disappeared from the Greek market. Without a warning the production of …

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Olli Rehn rejects renegotiation on Greek program due to IMF miscalculations

European Economic and Monetary Affairs Commissioner Olli Rehn put a stop to Greece’s expectations of a revision of the austerity program due to IMF’s miscalculations of fiscal multipliers. In a letter to ECOFIN ministers snet on 13. February 2013, Rehn wrote among others ““Recent studies on fiscal multipliers are of …

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EU court rules OPAP gambling monopoly “illegal”

Greece’s gambling monopoly owned byOpap SA (OPAP) was ruled illegal by the European Union’s highest court, sending shares of the company down as much as 21 percent. EU law prohibits national rules that grant exclusive rights without serving the public interest by reducing the number of betting opportunities, the EU …

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EU fines TV, computer screen cartel with €1.47 Billion

Philips, LG Electronics, Samsung SDI and three other firms were fined a record €1.47 billion by EU antitrust regulators on Wednesday (5 December) for fixing prices of TV and monitor cathode-ray tubes for nearly a decade. The European Commission slapped the biggest penalty, of €313.4 million, on Dutch-based Philips. LG …

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Greek Gov’t Rules Spending Controls & Wages-Pension Cuts Bypassing the Parliament

With two legislative actions and fourteen ministerial decisions the Greek government caused serious damage to two state powers of a sovereign state:  the Legislative and the Executive. Bypassing the Parliament, the government drafted legislative actions that give the Finance Minister super powers. Inspectors at ministries, local governments and public utilities enterprises will monitor …

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Eurogroup: Dirty Games with Greek Bailout Tranche

Greek Parliament adopted the inhuman austerity bill and the sharp-cuts budget 2013. Two main preconditions for the debt-ridden country to receive the 31-billion-euro bailout tranche. Just recently, Prime minister Antonis Samaras had claimed, that the state has money until November 16th 2012. However Greece’s lenders do not seem willing to …

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‘Austerity Bill Not Enough for Bailout Tranche’, Say German FinMin & EU Commission

The austerity package that will bring financial disaster to millions of Greek households was apparently not enough for Greece’s lenders to give the green light for the release of the 31 billion euro bailout tranche. Of course, the budget 2013 has to be adopted by the Greek Parliament, as well. …

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UNHCR’s Findings on Increase of Racist Attacks in Greece

Below is the official press release issued by the Greek branch of  United Nations High Commissioner for Refugees. Based on information of several networking groups, UNHCR documented 87 incidents of racist violence against refugees and migrants during the period January-September 2012.          A 21-year-old Greek-Egyptian man is left partially …

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EU Commission: A Week Long Time-Out For Greek Bailout Talks

 The representatives of Greece’s lenders, the so-called Troika, are leaving Athens, even though it seems that the negotiations on the spending savings package have not concluded yet. An EU Commission spokesman told reporters in Brussels, that the Troika “will be leaving this weekend and will return in about a week. the spokesman …

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Olli Rehn: Greece Has Achieved More Than Is Often Realized

Greeks should be proud! For the compliments made by EU Commissioner for Monetary Affairs, Olli Rehn. In an article he wrote for Wall Street Journal about the euro crisis, Olli Rehn wrote among others: “Over the last two years, Europe has made remarkable progress in addressing these imbalances. Consider the …

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Open Letter to Mario Draghi (ECB): Difficult to Save the Euro, When…

Head of European Central Bank, Mario Draghi, is expected to announce some measures to save the euro. While the markets anticipate to hear the news, normal citizens and taxpayers of the European Union and the euro zone try to figure out what’s the importance of Draghi’s intervention and how these will affect …

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