Source: CNBC - May 16 2012
Stocks faded in the final hour of trading Tuesday to finish lower following news that Greek depositors withdrew 700 million euros from the nation's banking system and after Greece's leaders failed to agree on a coalition government.
The S&P 500 closed at 3-month lows, while the Dow logged its ninth loss in the last 10 sessions. Major averages are on pace for their biggest monthly losses since last September.
According to a transcript, Greek depositors recently withdrew 700 million euros from the nation's local banks, said President Karolos Papoulias, though the exact timing of the transfer was unclear.
"I think people need to prepare for the eventual removal of Greece from the EU and investors are getting ahead of that before they're forced to," said Matthew McCormick, vice president and portfolio manager at Bahl & Gaynor Investment Counsel on CNBC's "Closing Bell." "It's a political market and an event-driven market."
I was only able to verify a handful of the points mentioned in this video, so do your own research. What stood out to me were the tree lined streets and the reaction of regular people to their leader, which leads me to ask - would any of 'our' politicians elicit anything near this type of positve response!?
Source: Inhabitat - August 21, 2011
Ok, those Germans are just showing off now. Not only has the nation announced plans to shut down all of its nuclear power plants and started the construction of 2,800 miles of transmission lines for its new renewable energy initiative, but now the village of Wildpoldsried is producing 321% more energy than it needs! The small agricultural village in the state of Bavaria is generating an impressive $5.7 million in annual revenue from renewable energy.
It’s no surprise that the country that has kicked butt at the Solar Decathlon competition (to produce energy positive solar houses) year after year is the home to such a productive energy-efficient village. The village’s green initiative first started in 1997 when the village council decided that it should build new industries, keep initiatives local, bring in new revenue, and create no debt. Over the past 14 years, the community has equipped nine new community buildings with solar panels, built four biogas digesters (with a fifth in construction now) and installed seven windmills with two more on the way. In the village itself, 190 private households have solar panels while the district also benefits from three small hydro power plants, ecological flood control, and a natural waste water system.
All of these green systems means that despite only having a population of 2,600, Wildpoldsried produces 321 percent more energy than it needs – and it’s generating 4.0 million Euro (US $5.7 million) in annual revenue by selling it back to the national grid. It is no surprise to learn that small businesses have developed in the village specifically to provide services to the renewable energy installations.
Over the years the village’s green goals have been so successful that they have even crafted a mission statement — WIR–2020, Wildpoldsried Innovativ Richtungsweisend (Wildpoldsried Innovative Leadership). The village council hopes that it will inspire citizens to do their part for the environment and create green jobs and businesses for the local area.
As a result of the village’s success, Wildpoldsried has received numerous national and international awards for its conservation and renewable energy initiatives known as Klimaschutz (climate protection). The council even hosts tours for other village councils on how to start their own Klimaschutz program. The Mayor has even been doing global tours ever since the Fukushima disaster.
Mayor Zengerle has gone to Romania, Berlin and the Black Sea Region to speak about how these places can transform their communities and make money in the process. Speaking to Biocycle, Mayor Zengerle said, “The mitigation of climate change in practice can only be implemented with the citizens and with the Village Council behind them 100 percent of the way. This model cannot be forced from only one side. We often spend a lot of time talking to our visitors about how to motivate the village council (and Mayor) to start thinking differently. We show them a best practices model in motion and many see the benefits immediately. From the tour we give, our guests understand how well things can operate when you have the enthusiasm and conviction of the people.”
Source: The Daily Mail - August 9, 2011
Police today admitted they were prepared to use plastic bullets against rioters if a fourth night of lawlessness sees gangs of youths marauding across London and looting businesses.
With an 'unprecedented' 16,000 police officers due on the streets of London tonight, answers were today being demanded over the failure of police to bring last night's riots under control.
Just hours after David Cameron warned rioters they would face the 'full force of the law' shops were boarding up their windows across the capital amid fears of more violence across the capital. Businesses, pubs, schools and even medical centres were sending staff home early.
The army of police officers on duty in London will swell to 16,000 tonight - compared with just 6,000 last night - as reinforcements are drafted in from 26 forces across the country.
Mr Kavanagh said he was sorry 'that London has got to wake up to these scenes'.
'We need to do better for London because those images last night were shocking for everyone,' Mr Kavanagh told reporters.
Every police cell in the capital was full today, forcing officers to transport suspects outside the city.
Huge swathes of the capital woke up to the charred debris of burned out buildings and streets littered with waste. David Cameron has recalled Parliament for the day on Thursday as he pledged to bring the situation under control
After cutting short his Tuscany holiday to deal with the worsening public disorder crisis, the Prime Minister said today: 'We will do everything necessary to restore order to Britain's streets and to make them safe for the law-abiding.
'Let me, first of all, completely condemn the scenes that we have seen on our television screens and people have witnessed in their communities.
'These are sickening scenes - scenes of people looting, vandalising, thieving, robbing, scenes of people attacking police officers and even attacking fire crews as they're trying to put out fires. This is criminality, pure and simple, and it has to be confronted and defeated.
Last night 44 police officers were injured - four of them seriously - as the capital endured the worst night of violence it has seen for decades.
..... the well-known Reeves furniture store in Croydon, south London, which first opened in 1867, was completely destroyed by a huge fire.
Owner Trevor Reeves told Sky News: 'It has just provided my family and the 15 or 20 staff and families that were supported, it's just completely destroyed.
'Words fail me. It's just gone, it's five generations. My father is distraught at the moment. It's just mindless thuggery.'
In Clapham youths went on the rampage trashing dozens of shops and walking out with plundered products.
Residents complained that police were very slow to respond as a huge Debenhams store was ransacked. This morning the whole high street was cordoned off as a major investigation and clear-up got underway.
Rioting began in Hackney shortly after 4pm yesterday when a mob of hooded youths began hurling missiles at officers and setting fire to bins and cars. Masked rioters on BMX bicycles armed with batons attacked a crowded London bus during the evening rush-hour, chasing terrified commuters as they tried to escape.
The thugs, some as young as eight, forced the driver to stop the double-decker by pelting it with champagne bottles stolen from a nearby Tesco. About 40 passengers – some carrying screaming toddlers – burst out of the exits and sprinted away.
Within hours similar scenes erupted in Lewisham, spreading to Peckham, Deptford and Croydon in south-east London.
Hundreds of fires were started all over the capital, from Camden in the north, Woolwich in the south-east, Ealing in west London and then, more worryingly as police lost control of the streets last night, locals were forced to take the law into their own hands to protect their homes and businesses.
In Dalston and Hackney, north-east London, shopkeepers and their families fought back against looting youths and forced them from the streets. As surrounding areas were pillaged members of the town's large Turkish community stood firm outside their homes and businesses.
Mr Kavanagh said it was 'a shocking and appalling morning for London to wake up to' and he was struck by the 'sheer scale and speed with which the attacks took place across London last night'. It 'was truly unprecedented' he said.
He said there was a 'changing nature' in the make-up of the rioters, with the profile changing 'dramatically' last night from 14 to 17-year-olds to 'older groups in cars doing organised looting'.
He added: 'And there was the far more focused attempt at injuring London Ambulance staff, there to help the community, trying to injure Fire Brigade officers and, of course, police officers.'
Gangs of looters - who appeared to be teenagers and young adults from a range of different backgrounds - raided hundreds of shops and businesses across London, making off with TVs and other electrical goods, cigarettes, clothes and alcohol.
Staff at Birmingham Children's Hospital formed a 'human shield' as they barricaded themselves inside after rioters threatened to set it on fire - in an evil bid to 'win respect' from fellow thugs.
Police ordered an immediate lock-down of the hospital after rioters used Twitter to spread the word and encourage thugs to storm the wards just after 9pm last night. Gangs of rioters rounded on the hospital - which cares for some of Britain's sickest children - armed with broken bottles and knives hoping to 'out-riot' yobs running amok in London.
A hospital spokesman said: 'We were told by police to lock the hospital down. They asked us not to let anyone in or out until it was safe to do so. 'It is extremely dangerous and our main concern is for the welfare of our patients and staff.'
In Medway, Kent, a group of around 15 youths arrived by train and went on the rampage, while violence was also reported in Chatham, Rainham and Gillingham.
Yobs also went on the rampage in Nottingham where up to 40 cars were damaged, there were attempts to loot shops and a container of 200 tyres was set on fire.
Cars and wheelie bins were torched during five hours of violence across Liverpool. A Tesco store in Myrtle Street was looted and police came under attack in Admiral Street with some of the rioters aged as young as 10.
Related - Mob Attacks Outside Wis. State Fair
Source: CBC - July 22, 2011
European Union leaders end an emergency summit on the region's debt crisis with a sweeping deal that will grant Greece a massive new bailout — but likely make it the first euro zone country to default — and radically reshape the currency union's rescue fund.
The changes agreed to Thursday allow the EU to act pre-emptively when crises build up.
The euro zone countries and the International Monetary Fund will give Greece a second bailout worth $153 billion Cdn., on top of the $154 billion already granted a year ago.
Banks and other private investors will contribute some $70 billion to the rescue package by either rolling over Greek bonds that they hold, swapping them for new ones with lower interest rates or selling the bonds back to Greece at a low price.
"For the first time since the beginning of this crisis, we can say that the politics and the markets are coming together," said European Commission President Jose Manuel Barroso.
Currency markets were encouraging, bidding the euro, which had rallied sharply on expectation of the deal, up further to gain 0.7 per cent to $1.4435 against the US dollar by late afternoon ET.
The euro zone will back up any new Greek bonds issued to the banks with guarantees if the deal is seen as a "selective default" by rating agencies, which is widely expected.
If the agencies make true on their warnings, Greece will become the first euro country to ever be in default — if likely only for a short period of time.
That agreement means Greek banks will be able to continue accessing cash from the European Central Bank. Without that support, Greek banks would quickly collapse.
Greece's economy has continued to struggle and it has been unable to raise money on international markets.
Bailout fund overhauled
The leaders also overhauled their bailout fund, giving it the power to intervene in countries before they are in full-blows crisis mode.
The changes are a big turnaround, especially for Germany, which had blocked any such move this year. They show how worried the euro zone is that its debt crisis could spill over from small countries like Greece, Ireland and Portugal to big ones like Spain or Italy. Full bailouts for those countries would likely overwhelm the euro zone's financial capacity.
To avoid that they will ever be in that position, the deal provides for a "precautionary program," such as short-term credit lines, for struggling countries.
Such credit lines could be very helpful for Italy and Spain if they ever experience a funding squeeze, showing investors that support is available if things get tight.
Rating agencies have warned for weeks that any form of private sector involvement in a bailout, even if voluntary and without a haircut, would be seen as a "selective default" — a rating that has never been held by a country while in the euro zone.
A selective default rating implies that terms of a bond, such as the repayment deadline or interest rate, have been altered. It falls short off an outright "default" rating, which is usually triggered when the borrowing country or company doesn't pay back the whole amount it owes.
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