EUROPE | WHAT REALLY HAPPENED

EUROPE

Jun 29 14:18

Just As You Suspected, Mega-Corporations Dominate EU Lobbying

The latest analytical report from Transparency International has revealed that the majority of lobbying meetings involving the European Commissioners and their staff were actually held with corporate managers. The EU declares the number of lobbying meetings it has approximately every six months.

Jun 29 13:48

7 photos that sum up what it looks like in Greece today

Here’s what it looks like in Greece today, after a weekend in which the government walked away from negotiations with creditors and declared a referendum on debt-holder demands for this Sunday: Banks are closed, and there are lines outside ATMs, where withdrawals from a Greek account are limited to just 60 euros.

That’s if there is still money in the ATM.

Jun 29 13:36

Anger Aimed at Troika's Ruthless Neoliberalism as Greece Exit Looms

With banks shuttered, capital controls in place, and democracy under threat, the world's eyes turn toward what the Greek people will decide.

Jun 29 13:32

Europe's richest countries (adjusted to cost of living)

Webmaster's Commentary: 

Latest victim of a US overthrow Ukraine is, of course, at the bottom of the list!

Jun 29 13:20

Russia: Tit for Tat

Hail, fire and brimstone, new sanctions or the US tanks on its borders, Russia takes things in stride. President Putin could adopt the motto of William of Orange: saevis tranquillus in undis, calm amidst the tempest. The tempest is all around. American tanks moved into the Baltic states. American warships sail up the Black sea. The EU sanctions against Russia were extended for another six months. Russian assets were seized in France and Belgium.

Jun 29 11:13

Greek banks will stay CLOSED tomorrow as British tourists are warned cash machines will become 'limited at short notice'

Greek banks and the country's stock exchange will not open tomorrow as the country enters the 'dark hour' of trying to rescue its stricken economy.

The Foreign Office warned today warned British holidaymakers that credit card machines and ATMs in Greece could become 'limited at short notice' and urged people to prepare for 'emergencies, unforeseen circumstances and any unexpected delays'.

With Tuesday's deadline for Greece to repay more than £1billion of its debts looming, the country is on the brink of leaving the single currency.

Jun 29 11:13

A Grexit would be disastrous and could signal disintegration of euro

Whatever the outcome of the weekend crisis meetings on Greece it has been another dreadful week for the European Union. Greece could fall out of the common currency even before the referendum planned for next Sunday and financial markets are set for a turbulent opening tomorrow. Seven years into the crisis this kind of thing simply should not be happening. There must be senior politicians in France and Germany, the principal architects of the common currency, beginning to wonder if the game is worth the candle.

Jun 29 11:08

We Are All Greeks! Europe Only Has a Future With the New Silk Road

It's not Greece which has failed, but rather Chancellor Merkel, Finance Minister Schäuble, the EU Commission, the European Central Bank, and the IMF. Why should the Greek government stick with the austerity measures demanded by the EU, which have already reduced the Greek economy by a third, lowered the birth rate, raised the death rate, and increased youth unemployment to 65%? A policy that even the IMF had to admit was completely incompetent, and that the UN expert on debt and human rights condemned as a clear violation of human rights? Greek Prime Minister Alexis Tsipras's decision not to capitulate to the "shock and awe" method of the Eurogroup's Shylocks is not only correct, but offers the chance for all of Europe to break with the insanity of the casino economy, which only serves the interests of the banks and speculators—provided however, that Germany and other countries find the courage to mobilize Europe's moral and intellectual strengths.

Jun 29 11:05

European Banks drop $56 Billion, socialist Greece poised to exit EU

European banks lost more than 50 billiion Euros ($56 billion US) as Greece shut its banks and imposed capital controls to attempt to prevent the collapse of its financial system.

Stoxx 600 Banks Index fell 4.4%, its largest dip since Novemeber 2011, with all 446 members declining.

Jun 29 11:02

Merkel says open to talks with Greece after referendum

German Chancellor Angela Merkel played down prospects of a breakthrough with Greece in the coming days, but said she stood ready to restart talks with the government in Athens after a planned referendum on Sunday.

Jun 29 10:28

EU to counter Russian propaganda by promoting 'European values'

The European Union aims to counter Russian propaganda by boosting support for independent media in “eastern neighbourhood” countries and increasing awareness of “disinformation activities by external actors”, according to a strategic communications action plan seen by RFE/RL.

Jun 29 09:47

Merkel Warns of Europe's Collapse: 'If Euro Fails, So Will the Idea of European Union'

In a dramatic appeal for Europeans to come together to address the common currency crisis, Chancellor Angela Merkel warned Thursday that if the euro collapses, so will the idea of European unity. She also described the current euro crisis as Europe's greatest test since the collapse of communism.

Jun 29 09:41

Greece May Not Even Have The Funds To Conduct A Referendum

According to Germany's FAZ, "the Greek Court also estimates that the referendum will cost around 110 million euros, according to a well-informed policy analyst. Money that in view of the strapped Greek Checkout simply will not be there, even if the country saves a EUR 1.6 billion full-scale default to the International Monetary Fund this Tuesday."

Jun 29 09:40

Greek 10Y Bonds Collapse - Yield Tops 15%

Greek stocks may be closed and the bond market super-illiquid but traders are willing to dump GGBs at almost any price for now. 10Y Greek government bonds are spiking over 400bps and have topped 15% for the first time since December 2012.

Jun 29 09:38

‘Support debt cancellation for Greece,’ MPs, economists & campaigners tell Cameron

MPs, trade unionists, economists and campaigners have called upon David Cameron to support Greek debt cancellation, saying it could be funded by seizing capital from speculators and banks that were the true beneficiaries of Athens’ bailouts.

Jun 29 09:37

Will distance from Greece save U.S. markets?

The means by which faraway market storms come to whip around U.S. stock prices is some form of contagion. This can occur when basic global banking and capital-market function is disturbed, or when many of the same people who own the collapsing assets also own stuff here and need to sell it to raise cash.

Webmaster's Commentary: 

They are ignoring the credit default swap problem.

Jun 29 09:17

Greece Will Open 700 Bank Branches On Thursday - For Limited Pension Withdrawals Only

Good news - some Greek bank branches will re-open sooner than expected.

*GREEK OFFICIAL: 700 BANK BRANCHES TO OPEN THURSDAY FOR PENSIONS

Bad news - only pension withdrawals are allowed in limited size.

*GREEK PENSION WITHDRAWALS WILL BE LIMITED TO EU240: OFFICIAL

Party's over.

Jun 29 09:11

And So It Begins – Greek Banks Get Shut Down For A Week And A ‘Grexit’ Is Now Probable

Is this the beginning of the end for the eurozone? For years, European officials have been trying to “fix Greece”, but nothing has worked. Now a worst case scenario is rapidly unfolding, and a “Grexit” has become more likely than not. On Sunday, the European Central Bank announced that it was not going to provide any more emergency support for Greek banks.

Jun 29 08:54

Anger Aimed at Troika's Ruthless Neoliberalism as Greece Exit Looms

President of the European Commission Jean-Claude Juncker delivered a speech in Brussels on Monday that observers say has dramatically escalated the tensions surrounding a referendum vote in Greece next Sunday—a vote that could ultimately result in the country's exit from the Eurozone.

Webmaster's Commentary: 
Jun 29 08:39

Greek Contagion Spreads As Several Italian Bank Stocks Failed To Open

While things have normalized since the open thanks entirely to the SNB's aggressive EUR-buying, CHF-selling intervention (good to see that central banks have read the BIS' report and have learned from their prior intervention mistakes), earlier this morning we got a snapshot of what happens if and when the SNB, and then the ECB itself, finally lose control when as a result of the Greek crisis the contagion promptly spread a few hundred kilometers west to Italy where as the WSJ reported, "several Italian banks failed to start trading on Monday as fears over a Greek debt default induced many investors to shed peripheral stocks, including Italian, with banks suffering the most."

Jun 29 08:35

Greece Done - Maybe

Greek debt talks collapse, banks close, capital controls in place and gold barley moves. The initial reaction on the Asian open was a quick $15 rise in gold and a 2% drop of the Euro against the US$. There is a sense that a last-minute deal may still be pulled off, but the general mood is one of who cares. I would suggest that there may be more nervousness than is suggested by gold’s price action and the risk to traders lies in more upside pressure. With holidays in Canada and a shortened July 4th week expect high volatility.

Jun 29 08:26

We Are All Greeks!

It’s not Greece which has failed, but rather Chancellor Merkel, Finance Minister Schäuble, the EU Commission, the European Central Bank, and the IMF. Why should the Greek government stick with the austerity measures demanded by the EU, which have already reduced the Greek economy by a third, lowered the birth rate, raised the death rate, and increased youth unemployment to 65%? A policy that even the IMF had to admit was completely incompetent, and that the UN expert on debt and human rights condemned as a clear violation of human rights? Greek Prime Minister Alexis Tsipras’s decision not to capitulate to the “shock and awe” method of the Eurogroup’s Shylocks is not only correct, but offers the chance for all of Europe to break with the insanity of the casino economy, which only serves the interests of the banks and speculators—provided however, that Germany and other countries find the courage to mobilize Europe’s moral and intellectual strengths.

Jun 29 08:24

EU chief feels 'betrayed' over Greek debt talks

European Commission President Jean-Claude Juncker has said he feels betrayed by Alexis Tsipras', the Greek prime minister, suprise call for a referendum last weekend and said that "playing one democracy against 18 others is not an attitude worthy of the great Greek nation".

Webmaster's Commentary: 

Awwww, poor widdle Junkcer feels weally bad!

Jun 29 07:48

Greek Banks Shut Down

Jun 29 07:31

Greek Contagion Spreads As Several Italian Bank Stocks Failed To Open

"several Italian banks failed to start trading on Monday as fears over a Greek debt default induced many investors to shed peripheral stocks, including Italian, with banks suffering the most."

Jun 29 07:30

Referendum Week: Market Reaction

Jun 28 22:54

Vladimir Putin on France and Europe: “NATO Member States have Renounced their Sovereignty”

“As you know, the modern world, especially the Western world, is highly monopolised and many Western countries – whether they want to hear this or not – have voluntarily given up a considerable part of their sovereignty. To some extent, this is a result of the politics of blocs. Sometimes we find it very difficult to come to terms with them on geopolitical issues. It is hard to reach an agreement with people who whisper even at home for fear of being overheard by the Americans. This is not a joke or a figure of speech.”

Jun 28 22:47

As it happened – Yanis Varoufakis’ intervention during the 27th June 2015 Eurogroup Meeting

The Eurogroup Meeting of 27th June 2015 will not go down as a proud moment in Europe’s history. Ministers turned down the Greek government’s request that the Greek people should be granted a single week during which to deliver a Yes or No answer to the institutions’ proposals – proposals crucial for Greece’s future in the Eurozone. The very idea that a government would consult its people on a problematic proposal put to it by the institutions was treated with incomprehension and often with disdain bordering on contempt.

Jun 28 21:57

The Greeks for whom all the talk means nothing – because they have nothing

After seven years of a crisis that has left 26% of Greece’s workforce unemployed, 30% of its people below the poverty line, 17% unable to meet their daily food needs and 3.1 million without health insurance, it is hard to see how anything decided in Brussels or in Athens in the coming week will do much to change the lives of a large number of Greeks any time soon.

“Those that were already on the margins have been pushed right to the very, very edge, and those who were in the middle have been pushed to the margins,” said Ioanna Pertsinidou of Praksis, a charity that runs day centres for vulnerable people and offers legal and employment advice.

“So many people – ordinary, low-to-middle income people with jobs and homes and their lives on track – have seen their lives go drown the drain so fast,” Pertsinidou said. “People who never dreamed that one day they would not be able to pay their electricity bill, or feed their children properly.”

Jun 28 17:24

Ignoring Tsipras Plea For Calm, Greeks Storm ATMs, Stores, Gas Stations

Just a few hours ago Greek PM Tsipras addressed his nation imploring then to "remain calm" and reassuring them that their "deposits were safe." It appears the Greeks did not believe him. Many were wondering where the Greek bank lines were for the past several months. Turns out the local depositors were merely waiting until just after the last minute to withdraw their funds... horde gas... and stack food. Greece, it appears is Venezuela - the new socialist paradise.

Webmaster's Commentary: 

Jun 28 17:22

Top German Politician Blasts Nuland & Carter: "F##k US Imperialism"

With intra-Europe relations hitting a new all-time low; and, having already been busted spying on Merkel, Obama got caught with his hand in Hollande's cookie jar this week, the following exultation from one of Germany's top politicians will hardly help Washington-Brussells relations. As Russia Insider notes, Oskar Lafontaine is a major force in German politics so it caught people’s attention when he excoriated Ash Carter and Victoria Nuland on his Facebook page yesterday... "Nuland says 'F*ck the EU'. We need need an EU foreign policy that stops warmongering US imperialism... F*ck US imperialism!" When he comes out swinging this way, you know something is changing.

Jun 28 17:19

Ignoring Tsipras Plea For Calm, Greeks Storm ATMs, Stores, Gas Stations

Just a few hours ago Greek PM Tsipras addressed his nation imploring then to "remain calm" and reassuring them that their "deposits were safe." It appears the Greeks did not believe him. Many were wondering where the Greek bank lines were for the past several months. Turns out the local depositors were merely waiting until just after the last minute to withdraw their funds... horde gas... and stack food. Greece, it appears is Venezuela - the new socialist paradise.

Jun 28 17:13

Euro plunges as traders head for safe havens

The euro has plunged nearly 2 per cent against the US dollar in the first signs of the market turmoil about to be unleashed by Greece's failure to agree the terms of a bailout package with its European Union and International Monetary Fund creditors.

Jun 28 17:13

Euro Drops as Tsipras’s Referendum Call Stokes Greek Exit Risks

The euro dropped more than 1 percent as trading opened in Asia Monday after Greece’s government moved the nation a step closer to leaving the currency bloc by effectively asking voters to decide on its membership.

Jun 28 17:09

Euro drops below US$1.1 as Greek exit risks grow

The European single currency dropped below US$1.1 in early Asian trade on Monday amid growing concern Greece was headed for financial collapse and a possible eurozone exit.

Jun 28 17:09

Wave of contagion expected after dramatic weekend raises ‘Grexit’ chances

Global financial markets are braced for a wave of contagion from Greece on Monday, with expected heavy losses for southern European government bonds and regional stock markets as investors scramble to discount a possible “Grexit” that most had still assumed was unlikely as late as Friday afternoon.

Greece will keep its banks closed on Monday and implement capital controls after international creditors refused to extend the country’s bailout.

“That is going to have a real big impact on markets and that will generate increased volatility,” said Ian Stannard, European head of FX strategy at Morgan Stanley in London.

Jun 28 17:08

Markets brace themselves for bumpy opening

European markets are braced for a wave of contagion from Greece on Monday, with heavy losses for southern European government bonds and regional stock markets expected as investors scramble to discount a possible “Grexit” that most had still assumed was unlikely as late as Friday afternoon.

Jun 28 16:33

Euro Exchange Rate To Dive As Greeks Rush Banks And Government Says, ‘No Cash’

The euro exchange rate is set to its one of its all-time historic lows against the United States dollar as the possibility of Greece exiting the European Union becomes more and more of a reality.

Webmaster's Commentary: 

The Asian FOREX markets just opened and the Euro is getting pounded.

Jun 28 15:06

The Central Bank of Macedonia has ordered the country's banks to withdraw funds from banks in Greece

"This is a temporary precautionary measures taken to prevent possible significant capital flight from Macedonia to our southern neighbor, which could lead to significant disturbance of the balance of payments and stability of the financial system", — reads the statement of the Central Bank of Macedonia.
It is noted that precautionary measures apply only to future transactions and do not affect those that already occur between the Greek and Macedonian organizations.

Jun 28 15:04

ATMs in Greece may stop work until Tuesday

Banks will be closed Monday for at least six working days, until next Monday, July 6.
"Measures include a daily limit on cash withdrawals in the Bank the sum of 60 euros per day with one account per person in each Bank. Be limited to interbank transfers of funds abroad and from abroad. The operation of entrepreneurs will be checked," the source said.

Jun 28 14:04

‘We don’t need EU permission’: Greek parliament ratifies bailout referendum

As an equal member of the EU, Greece does not need to ask permissions from anyone to let the Greek people speak and have their voices heard, PM Tsipras told his parliament, promising that the state’s sovereignty and future will be decided via referendum.

Jun 28 13:31

Varoufakis: If Europe Wants to Humiliate Greece, Do We Need Such Europe?

If Europe is going to stop its bailout program for Greece in order to humiliate the country’s government, a question remains open whether Athens needs such a Europe, Greek Finance Minister Yanis Varoufakis said in an interview with the German newspaper Bild.

Jun 28 13:20

Belgian doctors give healthy woman, 24, green light to die by euthanasia because of 'suicidal thoughts'

  • Laura, 24, does not suffer from any terminal disease or physical illness
  • She told doctors who assessed her condition that 'life, that's not for me'
  • Five people a day currently die with the assistance of medics in Belgium
  • New figures show that euthanasia numbers have jumped by a third
Jun 28 12:54

Greek debt crisis: Banks to stay shut, capital controls imposed

Greek banks will be closed and capital controls will be imposed, Prime Minister Alexis Tsipras says.

Jun 28 12:25

Greek banks will not be open on Monday

Greek banks will not be open on Monday, June 29. The decision was made to avoid the financial crisis.
Banks will not open until at least July 5 — the day of the referendum, where the citizens of Greece should speak about the offerings of creditors, according to the newspaper Kathemerini, with reference to its sources.

Jun 28 10:58

Armenian activists do not accept president's offer

Activists protesting against electricity price hike have not accepted the offer by President Serzh Sargsyan.

Member of “No to Plunder” initiative Vaghinak Shushanyan said they do not consider this a victory and will continue the struggle. He added that Baghramyan Avenue will be closed, since the Armenian authorities did not meet any of their demands.

Serzh Sargsyan neither canceled the decision to rise electricity price, nor promised to hold accountable the law enforcers for their illegal actions on June 23.

In a statement made earlier on Saturday, the Armenian leader said the government will absorb the electricity price hike before the end of evaluation conducted by an international company.

Webmaster's Commentary: 

The rate hike is just an excuse. This still feels like another US covert overthrow in progress. And if the Armenians think the cost of living is high now, wait until they see what it is under a new US puppet government!

Jun 28 10:40

Armenian protests resemble Ukrainian Maidan coup scenario - Russian MP

Upper House MP Igor Morozov has said that the current mass rallies in Armenia resemble the first phase of the latest coup in Ukraine, adding that the crisis could be being managed by the United States from their major diplomatic mission in Yerevan.

“Armenia is now close to a coup d’etat with use of firearms. This is going to happen unless President Serge Sargsyan learns some lessons from the Ukrainian Maidan and makes some conclusions,” the senator told RIA Novosti in comments over latest developments in Armenia’s capital, Yerevan.

Jun 28 10:35

A humanitarian tragedy imposed on Greece

The austerity program imposed on Greek society is a humanitarian tragedy.

Greece has lost more than 25 per cent of its GDP over the last five years. This is without historical precedent.

Even the Great Depression more than 85 years ago was not this bad.

Jun 28 10:27

Greek Crisis Moving Fast as Emergency Measures Considered

The European Central Bank (ECB) began discussions on Sunday to extend emergency financial support for Greece as the country moves forward with a referendum on a proposed bailout, at the same time as its current bailout speeds to a June 30 expiration.

Jun 28 10:25

GREECE: GOVERNMENT ‘PRINTING DRACHMAS’

Jun 28 10:21

From Kosovo to Crimea — Tales of Referendums

To President Obama it is irrelevant that the vast majority of Crimean citizens want to belong to Russia. His hatred of Russia and especially of President Putin has tipped any balance he may have displayed and is now extreme to the point of being malevolently insulting. He is increasingly intent on confrontation and has stated that the decision of the citizens of Crimea to accede to Russia is illegal. The White House announced that "We reject the 'referendum' that took place today in the Crimean region of Ukraine", and Obama declared "I again call on Russia to end its occupation and attempted annexation of Crimea".

Jun 28 09:53

Greece: The system versus the people

So what a wonderful system the European Union in its utter wisdom has created for the people of the Old Continent in general and the Greeks, Portuguese and Spanish in particular. A North-South divide, the Haves and the Have Nots, a two-speed, two-tier continent of the Rich and the Poor. Two Lands, Two Peoples, One Leader. Deutschland über Alles!
It is a not just a shame the way Europe has treated Greece, it is a scandal. Even more so, the callousness and sheer disrespect that everyone from Government officials to the media to the common person in the street have shown towards Greece and the Greeks, labelling them "irresponsible", "lazy" and "spendthrifts", an attitude so clear to see in the derogatory and insulting acronym PIGS given to Portugal, Ireland, Greece and Spain.

Jun 28 09:49

35% suicide surge in Greece after austerity measures

The austerity measures in Greece generated a surge of suicides.
The number of suicides has increased by 35% for the last two years.
Bond obligations, increase of expenses in comparison with the incomes of the citizens often lead to depression and despair amid the population and instigate further suicides.
Charles C. Branas, MD have tracked the suicide rate in Greece for more than 30 years and found out that the highest monthly rates occurred in 2012.
"The passage of new austerity measures in June 2011 marked the beginning of significant, abrupt and sustained increases in total suicides (+35.7%) and male suicides (+18.5%)," the investigators write.
The tendency can be tracked in the country since the beginning of the EU economic crisis in 2008.

Jun 28 09:34

‘We don’t need EU permission’: Greek parliament ratifies bailout referendum

As an equal member of the EU, Greece does not need to ask permissions from anyone to let the Greek people speak and have their voices heard, PM Tsipras told his parliament, promising that the state’s sovereignty and future will be decided via referendum.

Referendums have been used all across Europe as a way for people to directly express their will and have their voices heard, and Greece is fully in its right to conduct one PM Alexis Tsipras said during a late-night debate in parliament.

Jun 28 09:31

Greferendum looms: Greeks rush to ATMs, EU saddened, closes door

After months of tense negotiations with its European creditors, Greece is letting the people decide what to do next.

Jun 28 09:28

Armenian president suspends increase in electricity prices

Armenian President Serzh Sargsyan has suspended an increase in household electricity prices in a bid to end protests in the capital Yerevan.

Webmaster's Commentary: 

Scaring the politicians can actually work! :)

Jun 28 09:27

ECB Says "Greek Bank Holiday Now Necessary"

Earlier this morning we noted that the ECB has now frozen the ELA cap for Greek banks in the wake of PM Alexis Tsipras' move to call for a euro referendum and the Greek parliament's vote to allow the poll to go ahead.

Jun 28 09:16

Greeks Line Up at Banks and Drain ATMs as Tsipras Calls Vote

Greece’s banks may need an injection of fresh emergency funds to operate Monday as people rushed to pull out money after Prime Minister Alexis Tsipras called a referendum that could decide his country’s fate in the euro.

Jun 28 09:16

More than a third of Greek ATMs run dry for a while on Saturday

More than a third of automated teller machines across Greece ran out of cash on Saturday before they were replenished as Greeks pulled out money on fears their country was set to crash out of the euro, three banking sources said.

Jun 28 09:15

Shock vote on terms of bailout pushes Greek banks to the brink of meltdown as long queues form at country's cashpoints

Greek banks were on the brink of meltdown last night after the shock announcement that its crisis-hit government would hold a referendum on the terms of a fresh international bailout.

Webmaster's Commentary: 

The referendum will include the option of leaving the EU.

Jun 28 09:13

'Plan B' looms after Greece and Europe fall out

With Greece's creditors refusing to extend its bailout, attention has turned swiftly to preventing massive capital flight as worried Greek citizens pull cash from ATMs.
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Fears that the banks may not open Monday have prompted the European Central Bank to meet but officials say it will be up to Greece to stem an outflow that has already reached dangerous levels.

Webmaster's Commentary: 

Not to put too fine a point on it, but that money in the banks is the property of the Greek people and neither the banks for the government have any right to say they cannot have it!

We are seeing the latest chapter in what has become a global repeating pattern. Private central banks crush a nation with artificially created debt, and when the system collapses, as it always must, they stick the people with the losses!

Jun 28 09:00

Draghi Freezes Greek ELA, Varoufakis Tells BBC "Looking At Imposing Capital Controls, Closing Banks"

With Greece having gone past the point of no return, things are now escalating very rapidly, and moments ago the BBC's Nikc Sutton tweeted that the BBC's Mark Mardell was told the Greek government will be "looking overnight at imposing capital controls and closing banks on Monday."

Webmaster's Commentary: 
Jun 28 08:50

'We Won't Get Tired': Riot Police Deployed in Armenia as Protests Over Electricity Hike Rage On

As night fell on Friday, reports emerged that buses with riot police had arrived at a major street in Yerevan where nearly 20,000 protesters had gathered to demand a reversal of a 17 percent price hike that is set to kick in on August 1. The protests are being referred to on social media as the Electric Yerevan demonstrations.

Webmaster's Commentary: 

This reeks of another covert US overthrow.

Jun 28 08:49

'Nein Danke' - smaller German firms see U.S. trade deal as threat

Martina Roemmelt-Fella, who owns a small, family-run turbine manufacturer in Bavaria, should be a cheerleader for a trade deal between Europe and the United States that promises to ease the flow of goods and services across the Atlantic.

But instead she fears the Trans Atlantic Trade and Investment Partnership (TTIP) being hammered out between Brussels and Washington will give too much power to big multinationals at the expense of small companies like hers.

"The proposals are being negotiated behind closed doors with the help of 50 or 60 big corporates," said Roemmelt-Fella, whose firm is one of the thousands of small and medium-sized companies known as the 'Mittelstand' that account for 89 percent of Germany's exporters and form the backbone of the economy.

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