Menu



error This forum is not active, and new posts may not be made in it.
PromoteFacebookTwitter!
Luis Miguel Goitizolo

1162
61587 Posts
61587
Invite Me as a Friend
Top 25 Poster
Person Of The Week
RE: ARE WE NOW IN THE END TIMES?
4/13/2013 6:04:27 PM

Cyprus Faces Economic Meltdown as EU-IMF Refuses Extra Aid

Cyprus President Nicos Anastasiades has asked Brussels for "extra assistance" to help get Cyprus through the shock of finding the extra bailout cash without its economy collapsing.

Cyprus President Nicos Anastasiades has asked Brussels for “extra assistance” to help get Cyprus through the shock of finding the extra bailout cash without its economy collapsing.

By Bruno Waterfield, and Ben Martin – April 12, 2013

http://tinyurl.com/cjqmu7r

Cyprus must take on an extra €5.5bn in the cost of its bail-out, a sum equivalent to a third of the island’s annual GDP, without any additional help from the European Union and IMF.

The extra financing burden is expected to push Cyprus into a Greek-style economic meltdown and takes the cost of the Cypriot bail-out to over 135pc of the tiny Mediterranean island’s GDP.

The Eurozone’s finance ministers, meeting in Dublin, have told Cyprus that there will be no extra help for it to raise €13bn it needs to find as the condition for unlocking €10bn of EU-IMF loans.

Despite an original deal for €17.5 billion last month, the EU-IMF troika now estimates the cost of rescuing Cyprus from bankruptcy is €23bn, with all the additional money coming from the island.

Germany, facing parliamentary opposition to the €10bn bail-out, has insisted that there can be no question of increasing the amount that eurozone will pay to save a Cyprus, an island that many Germans regard as being a haven for money laundering and corrupt Russian oligarchs.

“The contribution from international creditors will not change,” said a spokesman for the German government.

Germany is taking a hard line amid splits in Angela Merkel’s Christian Democrats ahead of a vote on the Cyprus bail-out next week, with opponents warning that parliamentary approval will be “impossible” unless the island assumes the extra costs.

Maria Fekter, the Austrian Finance Minister, warned that unless Cyprus can show that it is ready to pay the extra bills for its bail-out the €10bn in EU-IMF funds will be blocked in the national parliaments of creditor countries, such as Austria and Germany.

“If the figures don’t add up, there probably won’t be consent in national parliaments,” she said.

Increasing the humiliation for Cyprus, Mario Draghi, head of the European Central Bank has written to Nicos Anastasiades, the Cypriot President, ordering him to stop angry MPs from criticising or investigating the Cypriot central bank.

“There is a letter which requests respect for the Cypriot central bank’s independence and to refrain from bringing pressure,” an EU source told AFP.

Panicos Demetriades, the head of the central bank of Cyprus has been blamed by many on the island for bungling the bail-out, leading to the near collapse of the Cypriot banking sector and the closure of the country’s second biggest bank.

President Anastasiades has written to EU institutions in Brussels pleading for “extra assistance” form European regional policy funds to help get Cyprus through the shock of finding the extra bail-out cash without its economy collapsing.

“The letter from President Anastasiades has nothing to do with asking for more money than the sum agreed,” said a Cypriot official.

“It is about a request for more support and financial assistance from our EU partners in the middle-term because of the financial and economic situation Cyprus is facing. For example, it asks about finding ways to use EU structural funds in better ways to help Cyprus.”

A European Commission official said that there would be extra cash available for Cyprus from EU funds aimed at helping the poorest regions of Europe.

“The Cypriots are asking for help in the form of technical assistance with structural funds absorption which is what we have committed to provide through the Task Force for Cyprus that is being established,” said an official.

The latest developments rattled markets on Friday morning.

The FTSE 100 slipped 24 points, or 0.4pc, to 6,392, after climbing for four consecutive days, and Spain’s Ibex shed 1pc, the Dax in Germany slid 0.9pc and France’s Cac 40 dipped 0.5pc.

Leaked EU-IMF documents have also raised concerns over Portugal, which is struggling to implement its own eurozone austerity measures.

Currently, the country will owe the EU and IMF €78bn in bail-out loans when it has to return to the financial markets for financing in July next year. But the documents showed that this will be nigh on impossible because Portugal will need to borrow €14.1bn in 2014, 30pc more annually than before the bail-out, at higher interest costs than those that caused its initial crisis in 2011.

The leaked troika documents, to be discussed by Europe’s finance ministers this weekend, set out options to help both Portugal and Ireland by extending the repayment plan for loans.

Eurozone ministers are expected to agree to give both countries an extra seven years but a confidential analysis of Portugal predicts that even with extra time for repayments the country could need a second bail-out.

Portugal was plunged into a new round of political crisis last weekend after its constitutional court blocked austerity measures contained the country’s 2013 budget, measures that are the condition of continued EU-IMF funding.


"Choose a job you love and you will not have to work a day in your life" (Confucius)

+0
Luis Miguel Goitizolo

1162
61587 Posts
61587
Invite Me as a Friend
Top 25 Poster
Person Of The Week
RE: ARE WE NOW IN THE END TIMES?
4/13/2013 6:05:31 PM

Portugal’s Elder Statesman Calls for ‘Argentine-Style’ Default

Mario Soares.

Mario Soares.

Stephen: Mario Soares served as Prime Minister of Portugal from 1976 to 1978 and from 1983 to 1985, and subsequently as the 17th President of Portugal from 1986 to 1996.

By Ambrose Evans-Pritchard, The Telegraph, UK – April 12,2013

http://tinyurl.com/d4t4bpp

Portugal’s leading elder statesman has called on the country to copy Argentina and default on its debt to avert economic collapse, a move that would lead to near certain ejection from the Euro.

Mario Soares, who steered the country to democracy after the Salazar dictatorship, said all political forces should unite to “bring down the government” and repudiate the austerity policies of the EU-IMF Troika.

“Portugal will never be able to pay its debts, however much it impoverishes itself. If you can’t pay, the only solution is not to pay. When Argentina was in crisis it didn’t pay. Did anything happen? No, nothing happened,” he told Antena 1.

The former socialist premier and president said the Portuguese government has become a servant of German Chancellor Angela Merkel, meekly doing whatever it is told.

“In their eagerness to do the bidding of Senhora Merkel, they have sold everything and ruined this country. In two years this government has destroyed Portugal,” he said.

Dario Perkins from Lombard Street Research said a hard-nosed default would force Portugal out of the euro. “It would create incredible animosity,” he said. “Germany would be alarmed that other countries might do the same so it would take a very tough line.”

Mr Perkins said all the peripheral states are “deeply scared” of being forced out of EMU. “They fear their economies would collapse, which is ridiculous. But in the end voters are going to elect politicians who refuse to along with austerity as we are seeing in Italy, and the EU will lose control,” he said.

Raoul Ruparel from Open Europe said Portugal had reached the limits of austerity. “The previous political consensus in parliament has evaporated. As so often in this crisis, the eurozone is coming up against the full force of national democracy.”

The rallying cry by Mr Soares comes a week after Portugal’s top court ruled that pay and pension cuts for public workers are illegal, forcing premier Pedro Passos Coelho to search for new cuts. The ruling calls into question the government’s whole policy “internal devaluation” aimed at lowering labour costs.

A leaked report from the Troika warned that the country is at risk of a debt spiral, with financing needs surging to €15bn by 2015, a third higher than the levels that precipitated the debt crisis in 2011. \

“There is substantial funding risk,” it said.

In a rare piece of good news, eurozone finance ministers agreed on Friday to extend repayment of rescue loans for Portugal and Ireland by a further seven years, reducing the pressure for a swift return to markets.

Brussels said both countries are “still highly vulnerable” to forces beyond their control, and deserve a “strong signal” of support. Critics say it is too little, too late. Fast-moving events on the ground now have a will of their own.


"Choose a job you love and you will not have to work a day in your life" (Confucius)

+0
Luis Miguel Goitizolo

1162
61587 Posts
61587
Invite Me as a Friend
Top 25 Poster
Person Of The Week
RE: ARE WE NOW IN THE END TIMES?
4/14/2013 1:34:57 AM

Inside the world of Kim Jong Un: North Korea's strange hermit king

North Korea's young leader is alarming the world with threats of nuclear war. What makes him tick?

What do we know about Kim?
He's the third and youngest son of former North Korean dictator Kim Jong Il, the "Dear Leader" who died in 2011. Because of the secretive nature of the regime, no one outside of Pyongyang's ruling elite knows the young Kim's precise birth date — experts think he is 29 or 30 years old — or his mother's true identity. Some reports suggest she was Ko Yong Hui, a former dancer and mistress of Kim Jong Il who served as the country's First Lady until her death in 2004. It is known that as a teenager, Kim was sent to study at Switzerland's $25,000-a-year International School of Berne. While in Switzerland, his official biography claims, he was a superior student who mastered "English, French, German, and Italian, as well as Chinese, Japanese, and Russian." His school records tell a different story.

What kind of student was he really?
Kim flunked science and only narrowly passed English, German, and math. At age 15, he was transferred from the elite institution to a nearby state-run Swiss high school. One fellow student remembers Kim as a "nice guy" who was "much more interested in soccer and basketball than in lessons." He idolized American basketball players like Chicago Bulls star Michael Jordan, and often shot hoops with Swiss friends. Former classmate Marco Imhof said the 5-foot-9 Korean was a skillful player for his size who "hated to lose." Kim returned to Pyongyang in 2000 and attended a military academy.

Was Kim always expected to rule?
No. His older brother Kim Jong Nam was originally supposed to inherit the dictatorship. But he embarrassed his father in 2001 when he was caught sneaking into Japan on a forged passport, apparently bound for Tokyo Disneyland. The middle son, Kim Jong Chul, was viewed as a "little girl" by his father and too weak to lead, according to a memoir by the family's Japanese former chef. That left only one choice. Kim debuted as heir apparent alongside his father at a massive military parade in 2010, when many regime-watchers noted how the once-athletic youth looked and moved exactly like his pudgy grandfather Kim Il Sung, the nation's beloved founder. "The regime wants its people to see Kim Jong Un as Great Leader Kim Il Sung reincarnated," said Kim Kwang-in, head of the North Korea Strategy Center in Seoul. "They fattened him up and gave him a thorough training — and plastic surgery, too, some even say."

Is his authority secure?
His recent actions would suggest it is not. When Kim succeeded his father and took on the title "Supreme Leader" two years ago, many intelligence analysts thought he was just a figurehead, and that real power lay with the country's network of much older generals. But last year Kim conducted a brutal purge of senior military officials he viewed as insufficiently loyal. Dozens of officers were executed by firing squad, and Deputy Defense Minister Kim Chol was reportedly ordered to stand in a deserted spot on a North Korean army range and then "obliterated" by targeted mortar fire. Many analysts believe that Kim's recent barrage of provocations, including threats to wage war on South Korea and to nuke the U.S., are intended to further secure his domestic power base.

Why would a crisis strengthen him?
Using manufactured external threats is one of the oldest tricks in the tyrant playbook. "By creating the impression that a U.S. attack is imminent," said Jean Lee, the Associated Press' bureau chief in Pyongyang, "the regime can foster a sense of national unity and encourage the people to rally around their new leader." If Kim can convince the citizens and the 1.2-million-man army of the Hermit Kingdom that North Korea faces a major threat from a hostile outside world, the generals would not dare challenge the young dictator's authority. Kim also learned from his father that playing crazy is an effective way to manipulate foreign powers. During his 17-year rule, Kim Jong Il repeatedly threatened to turn Seoul into a "sea of flames." Unsure whether the Dear Leader was mad enough to follow through, the South agreed to supply food and fuel aid to the impoverished North and to create cash-generating investment zones. The younger Kim has tweaked his father's "crazy-guy-in-the-neighborhood" strategy by expanding his war threats to include the U.S. as well as Seoul, even though he has no missiles that can go that far.

What does Kim want from the U.S.?
He wants it to roll back tough U.N. sanctions, implemented earlier this year, that ban the export to North Korea of luxury items such as gems, yachts, and sports cars. Kim needs these goodies to buy the loyalty of high-ranking officials. Some analysts worry that Kim lacks his father's strategic cunning, and could go overboard in attempting to prove his toughness. "Although he practiced brinkmanship all the time, there was a record of Kim Jong Il stepping back from the brink," said Alexandre Mansourov, a North Korea expert at Johns Hopkins University. "With his son, we don't have a track record yet. We don't know what his limits are, how far we can push him, or whether he has any brakes or not."

The Kims' sibling rivalry
The late Kim Jong Il's oldest son, Kim Jong Nam, is still bitter over his little brother's success. Jong Nam has repeatedly lobbed insults at Jong Un since his accession, telling one Japanese newspaper that his regime was "a joke" and doomed to collapse. He's paid a price for his name-calling. Russian weekly Arguments and Facts last year reported that Jong Nam was tossed out of a five-star hotel in the Chinese gambling hub of Macau following the sudden cancelation of his regime-funded Visa Gold card. Soon after, South Korean officials claimed to have captured a North Korean agent who'd been ordered to kill Jong Nam by staging a car accident in China. Jong Nam fled Macau, and is now thought to be in hiding in Singapore.

View this article on TheWeek.com Get 4 Free Issues of The Week


"Choose a job you love and you will not have to work a day in your life" (Confucius)

+0
Luis Miguel Goitizolo

1162
61587 Posts
61587
Invite Me as a Friend
Top 25 Poster
Person Of The Week
RE: ARE WE NOW IN THE END TIMES?
4/14/2013 1:44:47 AM

Colo. teen pleads not guilty in girl's slaying

Associated Press/Westminster Police Department, file - FILE - This undated booking photo released by the Westminster, Colo., Police Department shows Austin Reed Sigg, 18, who is charged with murder and other crimes in the abduction and slaying of 10-year-old Jessica Ridgeway. Sigg, is to enter a plea in the Oct. 5 disappearance and slaying of Jessica Ridgeway in the Denver suburb of Westminster and a May attack on a 22-year-old jogger at a lake in Jessica's neighborhood.(AP Photo/Westminster Police Department, file)

GOLDEN, Colo. (AP) — A Colorado teen pleaded not guilty Friday to murder and kidnapping in the kidnap-slaying and dismemberment of a 10-year-old girl that panicked Denver-area residents last fall — despite police testimony that the youth had confessed to the crime.

Austin Sigg, 18, stunned a courtroom by entering the not guilty pleas in the death of Jessica Ridgewayin the Denver suburb of Westminster. Sigg also pleaded not guilty to a May attack on a 22-year-old jogger at a lake in Jessica's neighborhood.

Sigg's not guilty pleas came despite his alleged confession and the discovery of some of the girl's remains at his home. He also confessed to the jogger attack, police say.

Trial was set for Sept. 23.

One legal analyst noted Sigg can still change his plea and that a plea bargain is possible.

"It's not uncommon for there to be a plea of not guilty to get things started, with the idea that the parties could continue to talk," said Karen Steinhauser, a former prosecutor who is now an adjunct professor at the University of Denver law school.

Sixteen family and friends of Jessica's, all wearing her favorite color, purple, were in the court, and Sigg smiled awkwardly at them as deputies led him in. As he left the hearing, he was turned around to face Jessica's supporters as deputies handcuffed him, and he again smiled awkwardly at them.

Family and friends were whisked away after the hearing ended, without comment.

Wearing an orange jump suit, Sigg appeared interested in the proceedings as his attorneys entered the pleas on his behalf.

Sigg is charged with murder, kidnapping, sexual assault and robbery. Prosecutors added three counts of sexual exploitation of a child because child pornography was allegedly found during the investigation. Sigg denied to investigators that he sexually assaulted Jessica.

If convicted, Sigg would face life in prison with the possibility of parole after 40 years. He cannot face the death penalty because he was 17 at the time of the slaying.

Jessica, a fifth-grader, disappeared while walking to school on Oct. 5. Hundreds of police and residents searched for her, and parents escorted their children to and from school. The FBI asked residents to report suspicious behavior by friends, neighbors and even family members. Her torso was found in a secluded park Oct. 10.

A resident contacted authorities Oct. 19 to report Sigg because he reportedly had a fascination with death, Westminster police Detective Luis Lopez testified at a preliminary hearing.

Two FBI agents took a DNA sample from Sigg. His mother called 911 on Oct. 23, saying he wanted to confess. Lopez said Sigg's DNA was found on Jessica's clothing.

Investigators said Sigg told them that some of Jessica's remains were hidden in a crawl space in his mother's home, where he lived.

Detectives said he described how he abducted Jessica as she walked past his car, bound her arms and her legs, drove around for a little bit then took her to his house.

There, he told investigators, he tried to strangle her and then used his hands to kill her. He also allegedly told investigators that he dismembered Jessica in a bathtub.

Jessica's father lives in the Kansas City, Mo., area.

In the attack on the jogger, investigator Michael Lynch has testified that Sigg used homemade chloroform concocted with a recipe found on the Internet to attempt to subdue a woman.

When asked about his criminal record on the 911 call, Sigg told the dispatcher: "The only other thing that I have done was the Ketner Lake incident where the woman got attacked. That was me."

Had Sigg pleaded not guilty by reason of insanity, he would have been sent for mental evaluations. If found insane, he would be confined indefinitely to a mental hospital.

Sigg's attorneys told the judge at a March hearing that they were studying Sigg's mental state at the time of the crime.

___

Associated Press writers Alexandra Tilsley and Dan Elliott contributed to this report.

"Choose a job you love and you will not have to work a day in your life" (Confucius)

+0
Luis Miguel Goitizolo

1162
61587 Posts
61587
Invite Me as a Friend
Top 25 Poster
Person Of The Week
RE: ARE WE NOW IN THE END TIMES?
4/14/2013 10:14:10 AM

Philly abortion clinic workers saw few options

Associated Press/Philadelphia Police Department via Philadelphia District Attorney's Office, File - FILE - In this undated photo provided by the Philadelphia District Attorney's office, Dr. Kermit Gosnell is shown. Eight former employees of a run-down West Philadelphia abortion clinic now face prison time for the work they did for Gosnell. Three have pleaded guilty to third-degree murder. And Gosnell, 72, is on trial in the deaths of a patient and seven babies allegedly born alive. (AP Photo/Philadelphia Police Department via Philadelphia District Attorney's Office, File)

PHILADELPHIA (AP) — They say they were just doing what the boss trained them to do.

But eight former employees of a run-down West Philadelphia abortion clinic now face prison time for the work they did for Dr. Kermit Gosnell. Three have pleaded guilty to third-degree murder.

And Gosnell, 72, is on trial in the deaths of a patient and seven babies allegedly born alive.

In testimony at the capital murder trial this past month, an unlicensed doctor and untrained aides described long, chaotic days at the clinic. They said they performed grueling, often gruesome work for little more than minimum wage, paid by Gosnell under the table.

But for most, it was the best job they could find.

Unlicensed doctor Stephen Massof, 50, of Pittsburgh, said he could not get a U.S. medical residency after finishing medical school in Grenada and went to work for Gosnell as a "backup plan" after six years running a bar. He admitted killing two babies by snipping their necks, as he said Gosnell taught him to do.

Eileen O'Neill, 56, had worked as a doctor in Louisiana but relinquished her medical license in 2000 to deal with "post-traumatic stress syndrome," according to her 2011 grand jury testimony. She is the only employee on trial with Gosnell, fighting false billing and racketeering charges.

According to one colleague, O'Neill was increasingly upset at the line of people who came to Gosnell's adjacent medical clinic for painkillers. And she was angry that he wasn't helping her regain her license.

"She said: 'All I do is break my neck for him all the time, and he never does anything for me. I'm going to have to do something about it,'" front desk worker Tina Baldwin testified this week, recalling a conversation with O'Neill.

However, O'Neill, like many others, stayed on at the clinic until a February 2010 drug raid, which was spawned by Gosnell's high-volume distribution of OxyContin and other painkillers.

Gosnell, once a gifted student in his working-class black neighborhood, had put his medical school education to work as a 1970s-era champion of drug treatment and legal abortions. But 30 years later, conditions inside his bustling clinic and his old neighborhood had deteriorated, according to trial testimony.

Defense lawyer Jack McMahon argues that no babies were born alive, and unforeseen complications caused the overdose death of the woman who died.

"Just because the place was less than state-of-the-art doesn't make him a murderer," McMahon said in opening statements last month.

Baldwin, like colleague Latosha Lewis, had trained to be a medical assistant at a for-profit vocational school before going to work for Gosnell in 2002. She handed out drugs at the front desk to induce labor, while Lewis helped perform ultrasounds, administer medications and deliver babies. Lewis worked from 10 a.m. until well after midnight, making $7 to $10 an hour.

"Gosnell recklessly cut corners, allowed patients to choose their medication based on ability to pay, and provided abysmal care — all to maximize his profit," prosecutors wrote in the 2011 grand jury report. "He was not serving his community. Gosnell ran a criminal enterprise, motivated by greed."

Baldwin now faces at least a year in prison, and perhaps much longer, after pleading guilty to federal drug charges and state charges that include corruption of a minor.

Her daughter, Ashley, went to work for Gosnell when she was 15 because she was interested in medicine. Before long, she was working past midnight — and missing school — to help the nocturnal doctor perform abortions. More than once, she said, she saw a baby move after the procedure. Gosnell would explain to his teenage trainee that the movements were a last reflex during the death process.

Ashley Baldwin, now 22, was one of the few clinic workers not charged after the FBI raid.

Two other clinic workers had family ties to Gosnell.

Elizabeth Hampton as a child had been in foster care with Gosnell's third wife, Pearl. And Adrienne Moton, a classmate of Gosnell's daughter, moved in with the family as a teenager because of problems at home. Both have pleaded guilty in the case but hope to get reduced terms in exchange for their cooperation. And Pearl Gosnell, a licensed cosmetologist, pleaded guilty to performing illegal, late-term abortions.

The others convicted include clinic workers Lynda Williams and Sherry West. Williams was hired to clean instruments but soon helped anesthetize patients, perform ultrasounds and carry out abortions, cutting babies in the back of the neck. She has pleaded guilty to third-degree murder, which carries a 20- to 40-year prison sentence.

West, 53, had been a longtime surgical technician at the Veterans Administration but quit in 2007 after contracting Hepatitis C. A year later, still waiting on disability benefits, she went to work for Gosnell.

West has pleaded guilty to third-degree murder for administering drugs to the refugee from Bhutan who died of a drug overdose during a 2009 abortion, but she testified this week she has her doubts about her plea.

"It was so confusing," she said, according to The Philadelphia Inquirer. "I didn't know what to do."


"Choose a job you love and you will not have to work a day in your life" (Confucius)

+0