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Tag Archives: portugal

EUROSTAT: Austerity-hit countries pay for electricity & gas as much as the rich EU North

Good that there are statistics and we can base our complains on real facts and statistical data. Eurostat found out that household electricity and gas prices rose between the second half of 2011 and the second half of 2012 in the Europe of 27. In simple English, that is between …

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Europeans from crisis-hit South flock to Germany seeking work

Mass migration revived in times of debt crisis, recession, austerity and unemployment. From European door to European door, so to say. One million people from the European south moved to Germany in 2012, Germany’s statistics authority said on Tuesday. And majority of the new European migrants came from Spain, Greece …

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German FinMin Schaeuble: Greece proved bailout program working, unemployment goes down

He must have a weird sense of humour. German finance minister Wolfgang Schaeuble sees nothing but effectiveness in the bailout program for Greece. In the country of 1,3 million jobless and 6%-7% recession. “The policy of the euro rescue works and Greece is an example for this,”  Schaeuble told German magazine …

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Portuguese court rules four out of nine bailout measures violate Constitution

This is a lesson  Eurozone member-countries in bailout should learn: that Troika imposed and government applied bailout terms can be against the national Constitutions that aim to protect the citizens in these countries. “Portugal’s Constitutional Court has ruled several key articles of the 2013 state budget unconstitutional. It rejected four …

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Where to find cheap fuel in Greece

Greece has the sixth highest gasoline prices, according to a survey conducted by Market Monitoring Agency for news agency Bloomberg. Out of 60 countries surveyed by Bloomberg, Greece was found to have the sixth highest gasoline prices and the third-highest in Europe. All these despite dramatic income decreases. The average …

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Marianne: The incredible errors by IMF experts & the wrong multiplier

Do you remember the report by IMF advisors Blanchard & Leigh “Growth forecast errors and fiscal multipliers, who were admitting the negative effects of the austerity measures? French weekly magazine Marianne wrote an article about the fatal mistakes made by the International Monetary Fund and located the calculation error – the wrong multiplier! The incredible …

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Alexis Tsipras: Greece today is Portugal of tomorrow

Alexis Tsipras, leader of main opposition part, left-wing SYRIZA warned Portuguese about the fatal impact of austerity. Speaking to Portuguese news agency Lusa, Tsipras said that “Greece of today maybe be Portugal tomorrow” if the country continues implementing the Troika imposed austerity measures. “Greece is one, one and a half …

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Merkel: “Never thought so much about Greece in my entire life”

German Chancellor Angela Merkel has reportedly admitted to feeling an “inner involvement” for Greece during the recent tense negotiations ahead of the disbursement of its latest bailout tranche. Speaking to foreign journalists on Monday evening, the German chancellor insisted that she had a passion for keeping Europe together and making …

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Athens: Indignant Greeks Go … Syntagma Square, Sept 15/2012

Indignant Greeks decided to return to Syntagma Square and are calling people to join the protest, scheduled for today, Saturday, September 15th 2012. “People need to join their voices for one more time against the austerity government measures and express their anger about the situation they experience,” a post said on …

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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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ECB-Draghi Calls On Bailout Countries to Further Lower Minimum Wages

Mario Draghi, head of European Central Bank found the solution to to production, especially in the bailout countries of the Euro Zone. “Urgent need to improve competitiveness and have labour forces work for dumping prices through further lowering the minimum wages” is the magic formula proposed by the ECB-chief. In the monthly …

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