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EU: A union for big banks

Published by the Corporate Europe Observatory in January 2014 We reproduce here the Conclusions of this exhaustive study into the new EU "Banking Union". The original can be read here Though the banking union is an ambitious project, it is not particularly promising. Bankers, Commissioners, politicians and governments have depicted the banking union as a solution to all ills of the banking sector. But while ...

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Argentina Deplores Announcement on Vulture Funds

Buenos Aires, Jul 16 (Prensa Latina) The Argentine Government deplored today a paid announcement on the vulture funds published by the Clarin and La Nacion newspapers asserting that the country undergoes a technical suspension of payments. Jorge Capitanich, Chief of the Cabinet of Ministers, asserted this morning that Argentina does not undergo a technical default, as stated by that announcement, because th ...

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Uruguay’s President Mujica says vulture funds are after Argentina’s oil

Uruguayan President Jose Mujica conveyed his concern at the U.S. Supreme Court ruling and held that the vulture funds intentions are related to the Vaca Muerta oilfields in the Province of Neuquen. He also said that the region’s countries should do something to help Argentina so that the confrontation with vulture funds would be “with the Americas and not only with Argentina.” Mujica made this remarks when ...

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Chronicle of a mess foretold: TTIP and TPP seen from Silo’s 1991 letter

The TPP (Trans Pacific Partnership) and TTIP (The Transatlantic Trade and Investment Partnership, aka US-EU “Free” Trade Agreement) continue hurtling towards their coveted objective: to create the largest “free” trade zone ever seen in the world, in reality the largest US and Multinational Corporations area of total control. Nation states will be powerless to defend themselves (see Argentina v Vulture funds ...

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Argentina Alleges Extortion After Supreme Court Sides with Vulture Funds Preying on Sovereign Debt

Democracy Now! We look at a case that is being called the "trial of the century" in how poor countries repay sovereign debt. This week, the U.S. Supreme Court rejected an appeal from Argentina over its $1.5 billion debt in a ruling critics say validates predatory behavior by so-called "vulture funds." The case involves hedge funds that bought up Argentina’s debt at bargain rates after its financial crisis m ...

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Virtual Media blackout about the G77 (in fact 133)+China summit

The Group of 77 at the United Nations is a loose coalition of developing nations, designed to promote its members' collective economic interests and create an enhanced joint negotiating capacity in the United Nations. There were 77 founding members of the organization, but by November 2013 the organization had since expanded to 133 member countries. Bolivia holds the Chairmanship for 2014. (Wikipedia) The 2 ...

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Why is inequality the big hot issue right now?

TED: Writer Jimmy Guterman takes society’s temperature and digs into the reasons we’re all talking about inequality. Thomas Piketty’s Capital in the 21st Century is a book of our moment. It may be the most unlikely egghead highbrow bestseller since A Brief History of Time – and it’s a lot longer than Stephen Hawking’s slender guide. Piketty’s 577-page tome (685 with index) argues that economic inequality is ...

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A Strange Tale of Morality: Banks, Financial Institutions and Citizens

By Roberto Savio Reprint In this column, Roberto Savio, founder and president emeritus of the Inter Press Service (IPS) news agency and publisher of Other News, argues that it is time to rethink the Seven Deadly Sins in the light of the latter day divide between the have-lots and the have-nots. ROME, Jun 9 2014 (IPS) - It is a great pity that, beside opening the doors to ethics, social justice and peace, Po ...

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I wasn’t invited to Bilderberg 2014

The Press is suffering from conspiracy theory fatigue. Sixty years on, the economic para-state continues to meet, now at the Marriott Hotel in Copenhagen, for its annual jamboree, gathering bankers, industrial and business moguls, their press lapdogs and the politicians who can deliver the profits for the arms manufacturers by starting wars masquerading as humanitarian interventions. Repeating they are not ...

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Inclusive Capitalism is an oxymoron

This is how Clive Menzies, political economist with a background in business and investment management, founder of the Critical Thinking research project at the Free University and member of the Occupy London Economics Working Group defines the Conference on Inclusive Capitalism in a BBC interview. The Conference, which has began today in London, counts on the participation of The Prince of Wales, former US ...

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