The German parliament has voted in favor of the EU’s permanent bailout scheme and more lenient budget rules. Chancellor Merkel has been criticized with making a U turn in policy, easing borrowing costs on flagging banks without additional austerity. “Today Germany, with the approval of the fiscal pact and the ESM [European Stability Mechanism] by all parties in both houses of parliament, will... 

Most EU members are in favor of issuing eurobonds, but Germany opposes mutual debt obligations. Don Coxe, an investor and chairman of Coxe Advisors LLP, says Berlin cannot afford to hand out more bailouts when confidence in EU banks is crumbling. ­The talks are taking place in Brussels, where EU leaders are meeting for two days to agree on new growth measures for the union. RT: In a recent blog article... 

The Cypriot government has issued a statement confirming that it has officially made an EU bailout bid, citing heavy exposure to debt-stricken Greece. This makes it the fifth state within the currency union to ask for help. The request comes just days before a deadline to recapitalize one of the country’s largest banks. “The purpose of the required assistance is to contain the risks to the Cypriot... 

French Finance Minister Pierre Moscovici pictured on May 21, 2012at a press conference in Berlin, Germany French Finance Minister has warned that Greece’s exit from the eurozone will be on the agenda if Greek authorities do not respect the bailout deal after parliamentary elections in mid-June. “The question would be raised without a doubt…. if the Greeks themselves do not respect their... 

Logo of the Portuguese bank BPI The Portuguese bank BPI has reportedly asked for 1.3 billion euros in public aid to comply with the principles laid out by the European Banking Authority, as the financial crisis in the eurozone seems to be deepening. Banco BPI, which is Portugal’s third largest listed bank, said on Monday that it would also raise 200 million euros from private investors. The news... 

Ireland is voting in a referendum on an EU austerity pact. If Dublin does not accept tough budget deficit obligations, it would be a kiss goodbye to EU rescue money, which could be followed by default and a eurozone exit. The mooted European Fiscal Pact was initiated by Germany and France. If approved, it would oblige Dublin to strictly control its budget deficit, which reached 13.1 per cent last... 

Presidential hopeful Ron Paul has condemned a plan being considered in the United States House of Representatives that would allow for the US to continue aiding in the defense of Israel by equipping the Jewish state’s military with added weaponry. From Washington, D.C. on Wednesday, Congressman Ron Paul (R-Texas) attacked the contents of an act currently up for discussion that, if passed, would... 

Koran handouts in Germany: Freedom of religion vs. fears of Muslim extremism One of the most radical Muslim confessions is on an aggressive campaign of preaching ultra-conservative Islam in Germany. Protected by the freedom of religion act, they spread a message that raises concerns within German society. The Salafist community in Germany organized a campaign with long-term goal to put no fewer than... 

A grim Ministry of Finance report circulating in the Kremlin today states that the shocking record rise this past week of the United States outstanding debt to $15.692 trillion (just $600 billion short of their debt ceiling) has pushed the world’s most powerful economy into a situation of its outstanding obligations now being 101.5% of its entire gross domestic product (GDP), which when coupled... 

At a time when America has a $1.5 TRILLION deficit, America should be cutting everything possible in sight, right? So why does America have a $770 million program to fix up mosques overseas? Let’s break this down a bit. Why do we have a $770 million program to fix up mosques? Can you imagine a $770 million program to fix up Christian churches (or even a $7.70 program)? Why are we spending $770... 

Humiliating: North Korea, embarrassed by the failure of the much-hyped rocket launch, is now widely believed to be weighing undertaking its third nuclear test in order to show its military strength The United States will not go forward with planned food aid to North Korea, the White House said on Friday, after the impoverished nation’s unsuccessful launch of a long-range missile which Washington... 

US President Barack Obama and Israeli Prime Minister Benjamin Netanyahu New data shows Washington has given more than 115 billion dollars in financial aid to Israel over the years, indicating Tel Aviv’s great dependence on the US. According to the report published by the Congressional Research Service Israel has received more assistance from the US than 15 European countries did to recover from the... 

Slain Libyan dictator Muammar Gaddafi (R) and French President Nicolas Sarkozy A French investigative news website says that slain Libyan dictator Muammar Gaddafi had contributed 50 million euros to French President Nicolas Sarkozy’s election campaign in 2007. In a report published on Monday, the Mediapart news website claimed that one of its journalists has seen documents confirming the contributions. According... 

The US has proposed that Israel withhold from waging an assault on Iran till the next presidential term in America in exchange for most advanced weaponry, reports the Israeli Maariv newspaper. However,the White House denies the claim. The proposal was supposedly made during the visit of Israeli PM Benjamin Netanyahu to Washington, the newspaper says, citing unnamed diplomats and intelligence sources. It... 

North Korea's cooling tower seconds before its public demolition at Yongbyon nuclear complex. North Korea says it is ready to halt missiles tests, disable its nuclear reactors and allow IAEA observers into the country in exchange for a food aid package from the US. US state department spokesman Victoria Nuland confirmed on Wednesday that North Korea had agreed to meet demands to disable its nuclear...