Greece is raising cash by selling off an area of state-owned land on Mykonos for luxury tourism. Desperate attempt to repay debts also driven by inability to find funds to develop infrastructure on islands. There’s little that shouts “seriously rich” as much as a little island in the sun to call your own. For Sir Richard Branson it is Neckar in the Caribbean, the billionaire Barclay... 

FGM Collecting Evidence, Testimonies To Sue Israeli Over Flotilla Attack Members of the Free Gaza Movement are collecting testimonies and evidence by contacting activists who were onboard the Turkish ship that was attacking by the Israeli occupation forces while heading to Gaza as part of the Freedom Flotilla humanitarian aid convoy. Member of Free Gaza Movement, Audrey Bomse, stated that testimonies... 

The European Union should push world powers to bring in a global levy on banks to “make those who caused the crisis pay,”Germany’s Chancellor Angela Merkel said on Thursday. EU leaders are keen not to repeat the experience of the last two years, when they had to bail out banks with public funds to prevent the financial crisis from worsening. The intervention left them with huge deficits,... 

Greek Riots of 2010 Europe is likely to see intermittent protests over the summer against painful economic measures, impacting markets but much tamer than the violent unrest in Greece that sent jitters through southern Europe. Long regarded as the most prone to street violence in western Europe — as well as the most financially troubled — Greece has seen several angry protests culminating... 

Bilderberg-controlled news outlets in Europe and the Western Hemisphere are conditioning the public to accept two of the super-secret elite’s major goals in advance of its meeting June 4-7 in Sitges, Spain: a U.S. attack on Iran and a financial bailout of Greece and other European Union (EU) countries. But even before the Bilderberg group gathered behind the sealed-off, guarded Dolce Hotel in Sitges,... 

Aid Ships Israeli authorities have warned that they would block a contingent of aid ships carrying construction materials and humanitarian supplies for the people of Gaza. “Ships that make their own way to Gaza don’t do anything to help the people there,” Yigal Palmor, a spokesman for the Israeli Foreign Ministry, claimed on Tuesday. Israeli authorities said the cargo vessels would... 

A German stockbroker in Frankfurt puts a hand to his head as he watches the computer screens today. The German stock market slipped today amid German anger and fears over the European bailout German anger at the 750billion Euro Greek bailout is swelling as world markets slid after initial excitement at the bailout fizzled. The headline on the front page of Germany’s biggest newspaper, Bild, summed... 

Chancellor Angela Merkel was heckled in the German parliament yesterday as she urged MPs to back the country’s €22.4 billion bailout for Greece, insisting that the “future of Europe” rested on the success of the rescue package. Ms Merkel’s cabinet gave the go-ahead for a German contribution to the €110 billion joint European Union and International Monetary Fund bailout... 

Economic Crash The situation of the United Kingdom in fiscal terms is in fact worse than the situation of Greece. That may come as a surprise to you, but if you look at the most recent paper on the subject published by the Bank for International Settlements, it is very clear. The trajectory of U.K. public debt over the next 30 years, absent a major change of policy, will take it to a mind-blowing 500%... 

Investors are abandoning the euro at a rate not seen since the collapse of Lehman Brothers Holdings Inc. as Europe’s worsening fiscal crisis threatens to splinter the 16-nation currency union. Pension funds and banks sold euros this month at the fastest pace since the second half of 2008, when the currency tumbled more than 25 percent against the dollar between mid-July and the end of October, according... 

Greek special forces chanted harsh anti-Turkish-Albanian slogans during an official military parade in Athens, reports said. Greek special forces chanted harsh anti-Turkish-Albanian slogans during an official military parade in Athens, reports said. According to reports, “racist and Nazi” slogans were chanted against Muslims of Greece: Macedonians, Turks and Albanians at the military parade... 

Street clashes broke out between rioting youths and police in central Athens today as tens of thousands demonstrated during a nationwide strike against the cash-strapped government. Hundreds of masked and hooded youths punched and kicked motorcycle police, knocking several off their bikes, as police responded with volleys of tear gas and stun grenades. The violence spread after the end of the march... 

Protesters in Greece are demanding that the plutocrats pay The recession has increased the wealth gap to dangerous levels, and George Osborne does not seem serious about tackling it, says Edmund Conway. If you don’t work in the City or in economics, you may not have heard of the annual Mais lecture, which was delivered last night by George Osborne. But it’s a big deal, arguably the most... 

The man about to break the euro? George Soros is said to be placing large bearish bets against the single currency A secretive group of Wall Street hedge fund bosses are said to be behind a plot to cash in on the decline of the euro. Representatives of George Soros’s investment business were among an all-star line up of Wall Street investors at an ‘ideas dinner’ at a private townhouse... 

Chart (click to enlarge) And so the tragicomic becomes surreal. Yesterday’s news about the departure of the head of the debt management agency, Spyros Papanicolaou, was somewhat of a yawner, until we realized that his replacement would be none other than Petros Christodoulou, who until today was head of Private Banking and Group Treasury at the National Bank of Greece (reporting directly to the...