By Don Quijones: Under the guise of austerity, taxes on the middle class and small businesses in Spain and other countries have reached confiscatory levels. But for the wealthy, there is a special deal – and it erupted into a scandal.
Entries in Europe (338)
By Hilary Barnes: The impression that the French government was not going to cave to trade unions on its reform of the state rail system was wrong. After causing rail chaos for 10 days, trade union militants got what they wanted.
Politicians and Eurocrats have already taken credit for the recovery, and a whirlwind of backslapping has ensued – prematurely, it turns out.
I was interviewed by Jorge Nascimento Rodrigues for "Janela na web" (a Portuguese site) and the printed edition of Expresso. After what I said, he might never interview me again :-]
By Don Quijones: When it comes to creative accounting, few can hold a candle to Spain's finance minister Cristobal Montoro, who unveiled his latest scheme to “grow” the economy: adding prostitution and illegal drugs to GDP to solve a host of urgent problems.
By Don Quijones: The establishment, both inside and outside Spain, is alarmed at the scale and intensity of public anger in the country.
The European economy has been on a phenomenal roll since 2012, according to the soaring Stoxx 600 stock index. Recessions, unemployment fiascos, toppling banks, collapsing auto sales... they didn’t exist. But what the heck is wrong with this picture?
Katitza Rodriguez: On June 4, 2014, one day before the Snowden anniversary, Poland celebrates 25 years since the fall of an authoritarian regime. Obama is in Poland, meeting with many heads of states—including those caught up in the NSA’s surveillance scandal.
By Don Quijones: “The people must pay” if they want to maintain the current levels of public services, warned James Daniel, the man in charge of the IMF’s mission in Spain, who, as an employee of the IMF, pays no income taxes to any country.
Election results for the European Parliament mortified the French political class, as this universally despised layer is called in France. But now the winner has the gall to accuse the government of “having rigged the vote by the most odious means” to prevent its victory.
By Don Quijones: The Spanish government is desperately trying to offload one of the bailed out, nationalized, and supposedly fully restored banks. The problem: no one wants it.
By Don Quijones: Europeans are pushing back against the EU Super State. Tired of being treated as lab rats in a dysfunctional economic and political experiment, a large minority will vote for euroskeptic parties in the nearing European elections.
By Don Quijones: “Spain’s banks are back on track,” the Spanish Banking Association announced to great fanfare. That’s the official story. But these banks reported financial results that “bear no relation to reality.”
New Prime Minister of France: It All Hangs Together Or We’ll Hang Together (Warning: Biting Sarcasm)
By Hilary Barnes: Manuel Valls, the new Prime Minister of France, who has discreetly hinted that he hopes one day to be regarded alongside General de Gaulle as "the man who saved France" from itself, has found a new and fascinating definition of "austerity."
By Cassandra: In the South of the Eurozone, people feel crushed, their future sacrificed on the altar of the Holy Euro. I’m in the Netherlands, so north of the Great Divide. We’re not suffering as much as the people in Greece, Spain, and Portugal. Not yet.
By Don Quijones: The story is now playing out across Europe’s bailed-out nations. The losers are by and large the poor and middle classes, while the beneficiaries are the same as always: the world’s largest multinational corporations and banks.
Head of EU’s Newfangled Bank Regulator: Markets Are Dumb, Pumps Stocks Of Teetering Banks To Keep them From Toppling
It's not often that a bank regulator proclaims stocks of teetering banks are undervalued because markets are too dumb to value them correctly. That’s what Danièle Nouy, chair of the ECB’s Single Supervisory Mechanism just proclaimed. She has a motive.
By Don Quijones: It was the first nationally coordinated grassroots response to repressive social and economic policies and widespread corruption of Spain’s ruling political caste. But it descended into violence – as the government is playing a dangerous game.
By Don Quijones: Revelations of a dirty, big business in Europe, and of the role banks play to make it possible. In fact, during the financial crisis, European banks “were as good as saved by the global drug trade.”