Greek vote would be on euro membership
Greece's Prime Minister George Papandreou on Monday called the unexpected referendum, citing the need for wider political backing for the fiscal measures and structural reforms demanded by international lenders.
The vote is seen bringing uncertainty back to markets and threatening Europe with a new crisis after euro zone leaders only last week agreed on the last-minute bailout deal.
"The situation is so tight that basically it would be a vote over their euro membership," Alexander Stubb, the Finnish minister of European affairs and foreign trade
Banks Sink on Greek Vote Bombshell
French banks and other lenders exposed to Greece and other weak euro zone countries slumped on Tuesday after Greece's leader said he would put a bailout plan to a referendum, raising the risk of a disorderly default.
It looks like it could create a cascade effect:
If Greek voters reject the unpopular bailout plan it could result in a "hard default", which could force banks to take losses of about 75 percent on their Greek sovereign bonds..."If we get a hard default in Greece, it will exacerbate the situation with Italy and Spain. It just increases the problem of Italy going down the same route, and that's the real risk," Lim said.
Greece's referendum is expected to take place in a few weeks, adding uncertainty about the bailout to a febrile mood in the European financial sector.
Next up is a very interesting article, especially given that you can see Mr Soros' fingerprints all over it:
Next target of protesters: U.S. dollar?
A group working with Occupy Wall Street is proposing a global alternative currency system to replace the currencies of individual nations.
"Occupy Wall Street and subsequent occupations prove that the people are eager for a new system," states OWS Currency. "Let's help them build it."
The online working group is being coordinated by the Foundation for Peer-to-Peer Alternatives, or P2P Foundation, which writes its mission is to "produce free/opensource technologies that help people create their own alternatives to the Federal Reserve Note and the system upon which it derives it's strength."
The currency project seeks to utilize several conceptual organizations already in existence that are attempting to create an alternative currency, including something called BitCoin, an experimental "digital currency ... that enables instant payments to anyone, anywhere in the world."
Among those public intellectuals is Lawrence Lessig, creator of Creative Commons.
WND previously reported Lessig works closely with Robert W. McChesney, an avowed Marxist who favors the dismantling of capitalism.
McChesney founded Free Press, a George Soros-funded organization with close ties to the White House that petitions for more government control of the news media.
New recession 'will lead to civil unrest worldwide'
The grim warning from the International Labour Organisation came as leaders of the G20 rich nations prepared to meet for a crisis summit in Cannes this week.
"We have reached the moment of truth. We have a brief window of opportunity to avoid a major double-dip in employment," said Raymond Torres, director of the ILO's International Institute for Labour Studies.
In 45 out of 118 countries examined, the risk of social unrest is rising, according to the World of Work Report 2011.
Israel warns West: Window of opportunity to thwart Iran nuclear program is closing
Israeli ambassadors in Western countries have been instructed to inform high-ranking politicians that the window of opportunity for imposing effective sanctions on Iran is closing, as part of a renewed diplomatic offensive aimed at using new sanctions to stop Tehran from developing a nuclear bomb.
The ambassadors were asked to tell the equivalent of the foreign ministries and prime minister's offices in the countries where they are serving that there isn't much time left to stop the nuclear program through diplomatic means.
Report: Israel seeking to upgrade its nuclear weapons capabilities
Israel is working on improving its nuclear weapons capabilities, according to a report by the independent Trident commission in the United Kingdom that was published in the Guardian newspaper on Monday.
According to the report in the Guardian, Israel is extending the range of its Jericho 3 land-to-land missiles so they will have the capabilities of transcontinental missiles.
Palestine Hopes To Join 16 Other UN Agencies Within Weeks
Yesterday, the Blaze reported that Palestine was granted full membership to UNESCO. The United States promptly followed this development by cutting funding to the agency. But it seems Palestine is nowhere near done working toward U.N. acceptance.
On Tuesday, Palestinians’ top envoy in Geneva said he believes that joining the U.N. agency for culture, education and science will “open the door” to joining 16 other U.N. agencies within weeks.
“Now we are studying when we are going to move for full membership on the other U.N. agencies,” Khraishi said. “It’s our target for (us to join) the international organizations and the U.N. agencies.”
He said the UNESCO vote sets a precedent to allowing such broad memberships.
PA Chairman Abbas: I Will Never Recognize a Jewish State; The Capturing of Israeli Soldier Gilad Shalit Was a Good Thing
Mahmoud Abbas: "First of all, let me make something clear about the story of the 'Jewish state.'
"They started talking to me about the 'Jewish state' only two years ago, discussing it with me at every opportunity, every forum I went to – Jewish or non-Jewish – asking: 'What do you think about the "Jewish state"?' I've said it before, and I'll say it again: I will never recognize the Jewishness of the state, or a 'Jewish state.'" [...]
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