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Archive for the ‘European debt crisis’ Category

Friday June 15, 2012             12:46pm EDT

Greek leftist Alexis Tsipras, “enfant terrible” of Europe’s debt crisis, cut his political teeth as a student protest leader in the 1990s and is now championing a rebellion that could end up sinking the single currency.

His vow to tear up the terms of an international bailout deal keeping debt-ridden Greece afloat has put him and his SYRIZA party within a few votes of government in a knife-edge election on Sunday in which the stakes could not be higher.

The strategy amounts to a game of chicken.

Tsipras says Europe’s lenders will not pull the plug on Greece for fear of the ripple effect of a Greek exit from the euro, so they will be forced to scrap the bitterly unpopular austerity measures demanded of Athens and which have driven the country into a spiral of recession.

“The memorandum of bankruptcy will belong to the past on Monday,” Tsipras told thousands of flag-waving supporters on Thursday in the capital’s Omonoia square, once one of the ornaments of central Athens but now grimy and scarred by crime and poverty.

“Today you made Omonoia the most beautiful square in Athens and you sent a message of victory inside and outside the country: Brussels expect us, we are coming on Monday to negotiate over people’s rights, to cancel the bailout,” he said.

It is a high-risk strategy that detractors say smacks of political inexperience and a short, comfortable life spent mainly on Greece’s anti-establishment fringe.

Born into a middle-class family with a small building business, Tsipras has a post-graduate degree in engineering but worked only briefly in construction before turning to full-time politics.

He dabbled while at university as a member of the Communist party’s youth wing and as a student protest leader in the 1990s, before joining the SYRIZA coalition of 12 radical leftist groups, including environmentalists and human rights activists.

 

REFRESHING CHANGE OR UNTESTED IDEOLOGUE?

Tsipras lost an election for mayor of Athens in 2006, but the race lifted him into the party’s top ranks and in 2008, his mentor and then SYRIZA leader Alekos Alavanos virtually handed him the leadership at the age of 33.

Now 37, spurning suit ties and stuffy formality, Tsipras represents a refreshing change for many Greeks fed up with a close-knit political establishment that has run the country into the ground.

To Greece’s euro zone partners, he is an untested ideologue who lacks the acumen to run a country, let alone steer it through a crisis that threatens financial calamity.

“So what if he doesn’t have the experience?” said SYRIZA deputy Panagiotis Kouroublis. “If he can run a party, he can run a country. Greece has suffered from people who promised one thing and did another.”

Tsipras has promised to nationalise banks, stop privatisations and freeze the austerity measures that his establishment rivals – the conservative New Democracy and socialist PASOK – agreed to in February as the price of a 130 billion euro EU/IMF bailout package.

Greeks rebelled in the streets the night the measures were adopted, burning banks and shops. Then the country held an election on May 6, and New Democracy and PASOK were roundly punished.

SYRIZA polled 16.8 percent in a highly fragmented field, putting it second.

Opinion polls suggest it is neck-and-neck with New Democracy ahead of Sunday’s repeat vote, forced after bitterly divided political factions failed to form a government.

Tsipras is a father of one child and is expecting another with his partner Betty after the election. In trademark defiance of traditional Greek society, the two have not married.

from:  http://www.reuters.com/article/2012/06/15/greece-election-tsipras-idUSL5E8HF64A20120615

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Alexis Tsipras was born on July 28th, 1974 according to http://en.wikipedia.org/wiki/Alexis_Tsipras

July 28th, 1974

7 + 28 +1+9+7+4 = 56 = his life lesson = Striking a delicate balance.

Two of Swords Tarot card

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July 28th, 1974

July 28th

7 + 28 +2+0+1+1 = 39 = his personal year (from July 28th, 2011 to July 27th, 2012) = Keep your promises.  If it sounds too good to be true, it probably is.

Knight of Cups Tarot card

39 year + 5 (May) = 44 = his personal month (from May 28th, 2012 to June 27th, 2012) = Having his finger on the pulse of what’s happening.  It is what it is.

Four of Cups Tarot card

44 month + 17 (17th of the month on Sunday June 17th, 2012) = 61 = his personal day = Run off.  Running away with it.  Exiting the European Union.  Doing the unexpected.

Seven of Swords Tarot card

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comprehensive summary and list of predictions for 2012:

http://predictionsyear2012.com/

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you can try to figure out some of your own numerology for FREE at:

http://numerologybasics.com/

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learn numerology from numerologist to the world, Ed Peterson:

https://www.createspace.com/3411561

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Sex Numerology is available at:

https://www.createspace.com/3802937

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May 12, 2012           2:20 AM CT

The European Union must implement measures both to consolidate public finance and boost economic growth, the bloc’s Economic and Monetary commissioner Olli Rehn said at a conference today in the Estonian capital, Tallinn.

“The debate on consolidation versus growth is a false debate,” Rehn said. “We need to stay on course with regards to fiscal consolidation and we need actions to boost growth.”

EU member states need to pursue structural reforms and lure more public and private investment to overcome the crisis, Rehn said.

from:  http://www.bloomberg.com/news/2012-05-12/rehn-rejects-false-choice-between-austerity-stimulus.html

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Olli Rehn was born on March 31st, 1962 according to http://en.wikipedia.org/wiki/Olli_Rehn

March 31st, 1962

March 31st

3 + 31 +2+0+1+2 = 39 = his personal year (from March 31st, 2012 to March 30th, 2013) = Keep your promises.  Idealist.  If it sounds too good to be true, it probably is.

Knight of Cups Tarot card

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comprehensive summary and list of predictions for 2012:

http://predictionsyear2012.com/

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discover some of your own numerology for FREE at:

http://numerologybasics.com/

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learn numerology from numerologist to the world, Ed Peterson:

https://www.createspace.com/3411561

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Sex Numerology available at:

https://www.createspace.com/3802937

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File:José Garcia-Margallo February 2012.jpg

April 27, 2012

Spain’s unemployment rate spiked to nearly 25 percent in the first months of the year, the government reported Friday, highlighting the risks facing Europe’s fifth largest economy as officials struggle to avoid the need for a massive international bailout.

Spanish unemployment jumped more than 1.5 percentage points with the economy hemorrhaging jobs across the board. Nearly 366,000 positions were lost in services, construction, manufacturing and agriculture.

Officials in Madrid warned of a potential economic calamity. Though Spain has had similar bouts of high unemployment in its recent history, analysts said they foresee no quick turnaround this time, and national statistics indicated that the number of families with no one employed jumped 10 percent.

“The figures are terrible for everyone and terrible for the government,” Foreign Minister Jose Manuel Garcia-Margallo said in Madrid, according to Associated Press reports. “Spain is in a crisis of enormous magnitude.”

Spain has recently moved to the center of the financial crisis that has rocked Europe in the past two years. The deepening of Spain’s economic problems raises new doubts about whether the government can keep its deficit in check and persuade global investors to continue lending it money vital for avoiding a national default.

A bailout of Spain would stretch the capacity of the International Monetary Fund and European emergency programs, and perhaps irreparably shake confidence in the euro region’s ability to survive.

Spain’s worsening problems come as Europe faces a potential political fracture that could jeopardize efforts to contain the region’s debt crisis. Collaboration between the leaders of Germany and France has been critical to the progress the euro region has made in addressing its economic problems, but that could change if upcoming French elections put socialist challenger Francois Hollande in office.

The unemployment figures were the second piece of bad news for Spain. The Standard and Poor’s rating firm late Thursday downgraded the Spanish government’s credit standing by two levels, potentially making it more expensive for the country to borrow money on its own.

Spain needs to borrow about $800 billion over the next three years to finance budget deficits and maturing loans.

Successive downgrades and rising interest rates have previously pushed Greece, Ireland and Portugal to seek loans from the IMF. S&P warned that it saw problems ahead as the Spanish government copes with a recession and a banking sector that may need more taxpayer help.

Although Spain has minded its public debts better than many European countries, the possible need for a public bank rescue could reverse that situation quickly. In Ireland, money borrowed to rescue banks overwhelmed the government budget and forced the country into the arms of the IMF.

“We think risks are rising to fiscal performance and flexibility and to the sovereign debt burden,” S&P analysts wrote in cutting Spain’s credit rating. While crediting the government of Prime Minister Mariano Rajoy with taking steps to trim deficits and revive growth, the agency forecast at least two more years of recession and said it did not think recent reforms would generate jobs “in the near term.”

In an interview in Spain with Bloomberg News, Economy Minister Luis De Guindos said he was confident changes in economic policy would pay off, and that the government would keep its deficit-cutting plan on track.

Spain’s government has been adamant it will not need international help, and has pointed to its rising exports and recent labor market reforms as signs of strength.

The country does not need “any sort of fiscal boost or stimulus,” De Guindos said.

But the dynamic at work in Spain — and throughout much of the euro zone — is troubling.

Government austerity programs are pulling tens of billions of dollars from the economy at the same time as banks tighten credit standards to strengthen their own health. Meanwhile, households are struggling with stagnant incomes, rising unemployment and — in Spain — the collapse of a real estate bubble. Home prices are still dropping in the country and the number of bad mortgage loans is an increasing burden on local banks.

from:  http://www.washingtonpost.com/business/economy/in-spain-spike-in-jobless-rate-intensifies-crisis/2012/04/27/gIQAxKUHmT_story.html

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José García-Margallo y Marfil was born on August 13th, 1944 according to http://en.wikipedia.org/wiki/Jos%C3%A9_Garc%C3%ADa-Margallo_y_Marfil

August 13th, 1944

8 + 13 +1+9+4+4 = 39 = his life lesson = Keep your promises.  If it sounds too good to be true, it probably is.

Knight of Cups Tarot card

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August 13th, 1944

August 13th

8 + 13 +2+0+1+1 = 25 = his personal year (from August 13th, 2011 to August 12th, 2012) = On the go.

Knight of Wands Tarot card

25 year + 6 (June) = 31 = his personal month (from June 13th, 2012 to July 12th, 2012) = Scandal.  Controversy.  Things get out of hand.

Five of Wands Tarot card

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August 13th, 1944

August 13th

8 + 13 +2+0+1+2 = 26 = his personal year (from August 13th, 2012 to August 12th, 2013) = In the news.  Making headlines.

Page of Wands Tarot card

26 year + 8 (August) = 34 = his personal month (from August 13th, 2012 to September 12th, 2012) = Generating a buzz.  Things happen really quickly.  People getting all fired up.

Eight of Wands Tarot card

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comprehensive summary and list of predictions for 2012:

http://predictionsyear2012.com/

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you can try to figure out some of your own numerology for FREE at:

http://numerologybasics.com/

—————————————————————————————–

—————————————————————————————–

—————————————————————————————–

learn numerology from numerologist to the world, Ed Peterson:

https://www.createspace.com/3411561

—————————————————————————————–

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—————————————————————————————–

Sex Numerology is available at:

https://www.createspace.com/3802937

Read Full Post »