Posts Tagged ‘economy’

About 3,000 unemployed demonstrators have clashed with riot police in Naples during a protest against rocketing youth unemployment. The violence erupted in the city after a visit by Labor Minister Elsa Fornero and left 23 people injured.

­Protesters donned masks of the unpopular Fornero and waved banners calling for Prime Minister Mario Monti to step down. Fornero and the German labor minister, Ursula von der Leyen, are in Naples for talks on Italy’s economic and unemployment problems.

A skirmish erupted when a breakaway group hurled stones and bottles at police, who returned fire with teargas, leaving 23 injured.

Fornero infuriated many Italians when she told them last month not to be “choosy” when looking for work.

Italy’s youth have borne the brunt of the economic crisis and government measures to tackle it do not appear to be working. Unemployment among 15-24-year-olds stood at 35.1 per cent in September, up 4.7 per cent on last year.

Italy is laden with debt and entered into recession at the end of last year. The economic gloom has been exasperated by reports of corruption and misuse of public funds by officials and politicians.

Italian prosecutors have filed charges of market manipulation against seven officials of the Standard & Poor’s (S&P) and Fitch ratings agencies the rating agencies for a number of downgrades of Italy last year.

An Italian expert said that firms like S&P and Fitch are meddling where they shouldn’t and creating hysteria in regard to Italian debt:
“These agencies came out with declarations when the markets would be open and therefore this created a big cult [panic] on the markets about Italian sovereign debt.” Paolo Raffone told RT.
S&P and Fitch say they are cooperating fully with the Italian inquiry.

Read the full report here

The Extinction Protocol

November 1, 2012 GAZAFor the best part of the past 16 months, the Palestinian Authority failed to pay on time the wages of more than its 200,000 public-sector employees. The delays in salary payments are caused by delays in the transfer [to the Palestinian Authority] of emergency aid funds and Palestinian tax revenues collected by Israel on behalf of the Palestinian Authority. The economic implications of the situation are far-reaching and disastrous, argues economist Yitzhak Gal in a report prepared by him for the monthly e-newsletter Iqtisadi (September issue, published by the Tel Aviv University Moshe Dayan Center for Middle Eastern and African Studies under the heading “The Palestinian Economic Crisis: A Loud Wake-Up Call.” The situation is liable to have dangerous [social and political] consequences due to the fact that the Palestinian public-sector employees, including the security establishment personnel, account for [well] over a…

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Dandelion Salad

by William T. Hathaway
Guest Writer
Dandelion Salad
September 9, 2012

Vicious fanatics are trying to kill us and destroy our country. They’re blowing up our soldiers overseas. They’ve infiltrated our country. We must defend ourselves against these mad-dog berserkers before it’s too late.

This litany has been repeated by corporate-controlled media and politicians for years now, pumping fear into us. It is used to justify a massive ongoing war that has killed hundreds of thousands of our fellow human beings and almost bankrupted the USA.

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The Extinction Protocol

August 14, 2012BEIJINGThe armyworm outbreak in China’s key grain producing areas has posed a major threat to the corn and rice crops this year, authorities said Tuesday. The agriculture ministry has warned the local governments to heed to its pest control advice to ensure grain security, the China Daily reported.We haven’t seen such a pest plague in so many places in almost a decade,” a spokesman for the ministry’s crop production department said. To date, at least two million hectares of autumn crops nationwide have been affected. The areas include Hebei, Jilin, Liaoning, Heilongjiang and Shanxi provinces, the Inner Mongolia region and Beijing and Tianjin municipalities. The government will allocate 200 million yuan ($3.5 million) to fight the pests, the official added. –NY Daily

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Occupied Palestine | فلسطين

[ PIC 13/08/2012 – 12:38 PM ]


GAZA, (PIC)– Economist Dr. Maher Al Tabbaa affirmed that the sudden closure of the Gaza tunnels without opening the commercial crossings and without lifting the siege will cause huge economic losses in Gaza.

Al Tabbaa called, in an article on Monday, for ending the siege and the hardships caused by the imposed use of tunnels, stressing that using the tunnels will only end after opening all commercial crossings to allow the entry of all kinds of goods to the Strip.

He pointed out that the decrease in prices of building material incoming through tunnels has contributed in increasing residential buildings, implementing some projects and increasing the percentage of workers in the construction sector, and thus, significantly decreasing the unemployment rate.

The economist stressed that the tunnels, whose number exceeds 1200, have become the only alternative option available for bringing goods to Gaza, noting…

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