Fitch downgrades Greece’s debt rating to BBB+ with negative outlook

Related articles:

Greece Finance Minister Says No Risk of Default (Bloomberg)

Greece to Reporters: We’re Not Dubai or Iceland (Wall Street Journal)

Here is why Greece is not Dubai or Iceland:

Greece is a member of the European Union since 1981, which makes all the difference.

The EU: ‘Only ‘EUnited’ we fail!’


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(Click on image to enlarge.)

ATHENS, Dec 8 (Reuters) – Ratings agency Fitch cut Greece’s debt to BBB+ on Tuesday with a negative outlook, the latest blow to the troubled euro zone country, driving its bonds, bank shares and the euro itself lower.

The cut was the first time in 10 years a major ratings agency has dropped Greece below an A grade. Fitch cited fiscal deterioration in one of the 16-member currency bloc’s most indebted member states.

“The downgrade reflects concerns over the medium-term outlook for public finances given the weak credibility of fiscal institutions and the policy framework in Greece,” Fitch said in a statement, calling for austere fiscal policies.

“The lack of substantive structural policy measures reduces confidence that medium term consolidation efforts will be aggressive enough to ensure public debt ratios are stabilised and then reduced over the next three to five years,” it said.

Read moreFitch downgrades Greece’s debt rating to BBB+ with negative outlook

EU gives CIA the power to search bank records of all member states

Brussels gives CIA the power to search UK bank records

cia

THE CIA is to be given broad access to the bank records of millions of Britons under a European Union plan to fight terrorism.

The Brussels agreement, which will come into force in two months’ time, requires the 27 EU member states to grant requests for banking information made by the United States under its terrorist finance tracking programme.

In a little noticed information note released last week, the EU said it had agreed that Europeans would be compelled to release the information to the CIA “as a matter of urgency”. The records will be kept in a US database for five years before being deleted.

Critics say the system is “lopsided” because there is no reciprocal arrangement under which the UK authorities can easily access the bank accounts of US citizens in America.

They also say the plan to sift through cross-border and domestic EU bank accounts gives US intelligence more scope to consult our bank accounts than is granted to law enforcement agencies in the UK or the rest of Europe.

In Britain and most of Europe a judge must authorise a specific search after receiving a sworn statement from a police officer.

This weekend civil liberties groups and privacy campaigners said the surveillance programme, introduced as an emergency measure in 2001, was being imposed on Britain without a proper debate.

Read moreEU gives CIA the power to search bank records of all member states

Lisbon Treaty: Now EU Takes Charge Of Britain

Ireland could have stopped the ‘New World Order’:

What part of Ireland’s ‘no’ does the EU not understand? (Guardian) (!!!)

But:

Ireland Votes 67% In Favor Of Lisbon Treaty -Final Count (Wall Street Journal)

(I am of course not blaming the Irish people for how they voted. After their first vote on the Lisbon Treason Treaty they were real heroes in my eyes. The only ones with brains in the EU. This madness should have been stopped a long time ago.)

Now we have an unelected Bilderberg puppet EU President:

EU President Herman Van Rompuy Announces 2009 as ‘First Year of Global Governance’ (BBC)

It is not that the people are powerless, but that they are not thinking for themselves, acting like a dumb, fear driven herd of sheep in total survival mode. Such behavior assures only one outcome: The people will get slaughtered by the elite.

“What good fortune for governments that the people do not think.” – Adolf Hitler


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Unelected EU President Herman van Rompuy

(Daily Express) FAT cat Eurocrats celebrated a “shameful” new era of Brussels domination last night with a ­lavish ceremony and fireworks – all at the hard-pressed taxpayers’ expense.

New EU President Herman van Rompuy and Brussels chiefs toasted victory as the Lisbon Treaty, which moves vast swathes of power from Westminster, ­became law across the EU at midnight on Monday.

Mr van Rompuy and EU foreign affairs chief Baroness Cathy Ashton were among the EU bureaucrats who cheered the landmark occasion at a glittering ceremony and banquet in the Portuguese capital.

But in Britain, angry anti-EU ­critics declared that it signalled the end of our independence after the latest massive surrender of sovereignty to Brussels.

Campaigners have pledged to fight on against the emergence of a Brussels superstate.

UK Independence Party Euro MP Nigel Farage said: “This day should go down in history as National Loss of Independence Day. We now live in a new legal order. We are just a province of a new legal entity called Europe.”

UKIP yesterday launched a national campaign for a referendum on whether Britain should quit the EU. Tory MP Douglas Carswell said: “Britain has ceased to be a sovereign country. Shamefully, the freedoms our forefathers fought for have been given away by the politicians at Westminster. We need a referendum now.”

Tory Euro MP Daniel Hannan said: “It is appalling, demeaning, disgraceful that such a thing should have been done without popular consent and in the absence of the referendum that all three parties had promised.”

Read moreLisbon Treaty: Now EU Takes Charge Of Britain

Climategate: Hacked emails include calls for ‘Earth Government’ as foundation of new world order, splitting of America

Lord Christopher Monckton on Climategate: ‘They Are Criminals’


One of the leaked climate emails was apparently a press release from “Earth Government” Newsletter dated 27 Mar 2003. The document calls for a ‘democratic’ world government that would amalgamate and reform the prevailing global institutions including the United Nations, IMF, World Bank WTO, NAFTA, FTAA and others “for the good of all.”

It further refers to an “Earth Court of Justice to deal with all aspects of the Governance and Management of the Earth.” The document also makes mention of the “Foundation for the new world order, Earth Government” and “The splitting of America into separate independent states living at peace for the good of all.” Is this a revelation of the true intentions of certain environmental advocates, or just one of many emails in the background of calls to “hide the decline” of global temperatures (despite intense claims of global warming).

It is eerily similar to newly named EU President Herman Von Rompuy’s calls for Copenhagen to establish “global management” of the planet and Queen Elizabeth’s recent declaration during her throne speech at the opening of Parliament that “My government will seek effective global and European collaboration through the G20 and the European Union to sustain economic recovery and to combat climate change, including at the Copenhagen summit next month.”

The bulk of the leaked or hacked climate emails can be found at Wikileaks. If you download the emails and look for email #1048799107.txt you will see it. Thanks to Jonathan at NWObabylon.blogspot.com for the tip.

Below is the email in full:

Read moreClimategate: Hacked emails include calls for ‘Earth Government’ as foundation of new world order, splitting of America

RBS banksters dumping toxic assets on Ireland

Here is what I said in October:

“Fear won! The New World Order won. The people will lose.”

It was an absolute insult that the people had been forced to vote again:

What part of Ireland’s ‘no’ does the EU not understand? (Guardian)

Aren’t you glad that you’ve got the ‘correct answer this time’ and voted ‘YES’ Ireland?

Ireland Votes 67% In Favor Of Lisbon Treaty -Final Count (Wall Street Journal)

Now you will pay!


Hester stirs diplomatic row by using EU rules to force Dublin into accepting £7bn bad loans

rbs

ROYAL BANK OF SCOTLAND is poised to spark a diplomatic row with Ireland by attempting to dump £7 billion of toxic loans into the Irish “bad bank”.

Stephen Hester, the RBS chief executive, is expected to lodge an application to join Ireland’s National Asset Management Agency (Nama) within the next few weeks through its Ulster Bank subsidiary.

Irish officials are said to be furious about the plan, however. The Treasury had previously reached a “gentleman’s agreement” with its Dublin counterpart over their bailout plans.

The Treasury had agreed that no British banks would apply to use the Nama as long as no Irish banks tried to join the parallel UK programme, the Government Asset Protection Scheme (Gaps).

This was agreed to make it easier for taxpayers in both countries to stomach the deal. Under EU rules, Ireland is legally obliged to consider RBS’s application to join the scheme.

The Irish officials had no idea RBS was considering using the Nama scheme until Hester alluded to the possibility in a conference call with analysts two weeks ago. His comments came after the bank confirmed plans to place £282 billion of assets into Gaps — some £40 billion less than originally planned.

Read moreRBS banksters dumping toxic assets on Ireland

EU President Herman Van Rompuy Announces 2009 as ‘First Year of Global Governance’

Herman Van Rompuy is just another Bilderberg puppet!

In case you have missed this:

Has Anyone Read the Copenhagen Agreement? U.N. plans for a new ‘world government’ are scary (The Wall Street Journal):
“We can only hope that world leaders will do nothing more than enjoy a pleasant bicycle ride around the charming streets of Copenhagen come December. For if they actually manage to wring out an agreement based on the current draft text of the Copenhagen climate-change treaty, the world is in for some nasty surprises. Draft text, you say? If you haven’t heard about it, that’s because none of our otherwise talkative political leaders have bothered to tell us what the drafters have already cobbled together for leaders to consider. And neither have the media.”

“So far there have been more than a million hits on the YouTube post of his address. It deserves millions more because Lord Monckton warns that the aim of the Copenhagen draft treaty is to set up a transnational “government” on a scale the world has never before seen.”

Now listen to the new EU puppet President …


New EU president confirms New World Order desire


Added:

EU Proposes €50bn Climate Change Deal Ahead of December’s Global Climate Change Conference in Copenhagen

The EU proposes climate change deal to steal more taxpayer money.

Lord Christopher Monckton: Is President Obama Poised to Surrender the Constitution and US Sovereignty to World Government?


Added: October 16, 2009

Has Anyone Read the Copenhagen Agreement? U.N. plans for a new ‘world government’ are scary (The Wall Street Journal):
“We can only hope that world leaders will do nothing more than enjoy a pleasant bicycle ride around the charming streets of Copenhagen come December. For if they actually manage to wring out an agreement based on the current draft text of the Copenhagen climate-change treaty, the world is in for some nasty surprises. Draft text, you say? If you haven’t heard about it, that’s because none of our otherwise talkative political leaders have bothered to tell us what the drafters have already cobbled together for leaders to consider. And neither have the media.”

“So far there have been more than a million hits on the YouTube post of his address. It deserves millions more because Lord Monckton warns that the aim of the Copenhagen draft treaty is to set up a transnational “government” on a scale the world has never before seen.”

Greenpeace has been taken over a long time ago.


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The European Union proposed on Friday that rich countries should give developing nations up to €50bn ($74bn) a year by 2020 to help them fight climate change but stopped short of stating how much the 27-nation bloc was willing to contribute.

After a two-day summit, EU leaders said the support by rich countries should begin with an annual €5bn-€7bn from 2010 to 2012 in “fast-start” finance.

The failure to say how much the EU would offer and how it would divide costs among its 27 member states means Europe continues to lack a detailed negotiating position for December’s global climate change conference in Copenhagen.

Environmentalist groups were disappointed. “The EU failed to use this opportunity to put its money where its mouth is,” said Joris den Blanken, Greenpeace’s EU climate policy director. “But all is not lost. Today 27 of the world’s richest nations have backed global funding to tackle climate change in developing countries.”

Read moreEU Proposes €50bn Climate Change Deal Ahead of December’s Global Climate Change Conference in Copenhagen

Sarkozy spent £160m on events and refurbishment during French EU presidency, incl. £250,000 on a personal shower he did not use

WTF!


Audit slams ‘opaque’ accounting as French EU presidency found to have spent £160m on events and refurbishment

nicolas-sarkozy
Nicolas Sarkozy at a European Council summit last year. His spending has been blamed on poor management. Photograph: Eric Feferberg/AFP/Getty Images

French financial watchdogs slammed Nicolas Sarkozy for spending £160m during his country’s six-month stint in charge of the EU – including £250,000 on a personal presidential shower that he never used.

The vast expense is set out in a report blaming poor management and a lack of transparency by the president’s staff.

Costs soared because so many of the EU-related events were organised at the last minute, said the report.

On one occasion Sarkozy triggered the cancellation of an entire EU event he was due to host in Evian, because he wanted to sleep in his own bed at the Élysée palace. By then, hundreds of journalists, EU officials and national delegations had either already arrived in Evian or were on their way.

A flood of complaints prompted compensation payments – adding more to the eventual presidential bill.

The total for Sarkozy’s time at the helm of the EU is set out in figures published by the French national audit office.

Every government likes to showcase its country when holding the EU presidency, which at present rotates from country to country every six months. National funds are topped up with EU budget support to organise summits, informal ministerial meetings and EU-related promotional events, conferences and policy programmes. Funding is shared between national and regional authorities and the EU budget.

For one three-day event alone, Sarkozy sanctioned an elaborate upgrade of the Grand Palace in Paris for an EU-Mediterranean summit – one of his pet initiatives to mark his turn at the EU helm.

The event was one of his final EU presidency flourishes last July, and involved hundreds of workmen and millions of pounds.

“The Grand Palace had to be completely refitted for the occasion. Five hundred technicians were mobilised every day, including 300 at night,” said the report. Spending included nearly £1m for one dinner for more than 40 government leaders and heads of state who attended the event.

Nearly £300,000 was spent building a conference podium, nearly £200,000 upgrading the gardens and grounds, and a total bill for the Sarkozy shower of almost £250,000.

The audit report said the cost soared because of the complications of installing a state-of-the-art shower to the president’s specifications in a listed building.

The president never used it – instead going back to the Élysée palace during the three-day summit to freshen up. The shower has since been dismantled.

Other spending on the summit included £90,000 for a carpet.

Read moreSarkozy spent £160m on events and refurbishment during French EU presidency, incl. £250,000 on a personal shower he did not use

Fall Of The Republic – The Presidency Of Barack H. Obama (The Full Movie HQ)

“When the people find they can vote themselves money, that will herald the end of the republic.”
– Benjamin Franklin


Added: 22. October 2009

Fall Of The Republic documents how an offshore corporate cartel is bankrupting the US economy by design. Leaders are now declaring that world government has arrived and that the dollar will be replaced by a new global currency.

President Obama has brazenly violated Article 1 Section 9 of the US Constitution by seating himself at the head of United Nations’ Security Council, thus becoming the first US president to chair the world body.

A scientific dictatorship is in its final stages of completion, and laws protecting basic human rights are being abolished worldwide; an iron curtain of high-tech tyranny is now descending over the planet.

A worldwide regime controlled by an unelected corporate elite is implementing a planetary carbon tax system that will dominate all human activity and establish a system of neo-feudal slavery.

Read moreFall Of The Republic – The Presidency Of Barack H. Obama (The Full Movie HQ)

EU allows Ireland to keep the cost of funding the National Asset Management Agency (Nama) off its budgetary balance sheet

WTF! What is the point of having a balance sheet then?

Related articles:
Ireland says “bad bank” to be off balance sheet (Reuters)
NAMA’s €54bn purchases won’t be counted as national debt (Irish Independent)


Nama to fall outside national debt

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NAMA: EU stats body makes decision

The European Commission is to allow Ireland keep the cost of funding the National Asset Management Agency (Nama) off its budgetary balance sheet, Minister for Finance Brian Lenihan said today.

Mr Lenihan said the Commission had accepted that Nama should be recorded outside the general government sector in the national accounts.

The decision by Eurostat means Nama will not increase the general government debt ratio and Ireland’s budget balance will not be directly affected by Nama.

“The preliminary decision of Eurostat means that the acquisition of the assets from the financial institutions by Nama may be treated as off-balance sheet in the budgetary arithmetic under European national accounting rules,” Mr Lenihan said in a statement.

Read moreEU allows Ireland to keep the cost of funding the National Asset Management Agency (Nama) off its budgetary balance sheet